Posted by Brian Tracy on Sep 19, 2008
There are two great principles for achieving financial success.
The first Principle is what we call the law of attraction. The law of attraction says that you are a living magnet. It says that your thoughts create a force field of energy that radiates out from you and attracts back into your life people and circumstances in harmony with them. Any thought you have, combined with an emotion, positive or negative, radiates out from you and attracts back into your life the people, circumstances, ideas and opportunities consistent with it.
How to Attract the Success You Desire
Many people feel that this is perhaps the most important of all mental laws. It says that if you have a very clear idea in your mind of your desired goal, to become wealthy, and you can hold that idea in your mind on a continuing basis, you will inevitably draw into your life the resources that you need in order to achieve it. Every person who has become wealthy or successful has become wealthy and successful as a result of holding the idea of wealth and success in their mind long enough and hard enough, until they drew into their lives the resources they needed to accomplish it.
Your World Reflects Your Thoughts
The second principle is called the law of correspondence. This mental law is very powerful. It says, "as within, so without." It says that your outer world is like a mirror that reflects back to you what is going on in your inner world. And this law of correspondence says that everything that happens outside of you corresponds to something that’s going on inside of you. When we say that your outer world is a reflection of your inner world, we mean both at a conscious and at a subconscious level.
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Visualize Your Goals Clearly
If you consciously believe that you have the ability to achieve your goals and you can hold a picture of those goals clearly in your mind long enough and hard enough, eventually your outer world will correspond with it.
Three Reflections of Success
There are three places where we see this law of correspondence. First of all, your outer world of people will correspond exactly with your own attitude. You will always see your attitude reflected back to you in the faces and the behaviors of the people around you. If you have a positive, optimistic attitude, people will respond to you almost immediately, even before you open your mouth, in a positive and cheerful way.
Relationships Show You Who You Are
The second area where we see the law of correspondence is in your relationships. Your relationships will always mirror back to you exactly the kind of a person you are. When you are happy and optimistic and at peace, your relationships will be happy and harmonious and loving. But when your thinking is disrupted or negative for any reason, consciously or unconsciously, this will be immediately reflected in your relationships.
Inner and Outer Wealth
The third place you see the law of correspondence is with regard to your wealth. Your external world of wealth and financial accomplishment will be a mirror image of your inner world of preparation. The only part of the equation that you can control is your conscious thoughts, and if you can keep your conscious thoughts on what you want, on your images of wealth and affluence, eventually your external world of reality and experiences will reflect it back to you.
Action Exercises
Here are two things you can do to apply these principles in your financial life:
First, guard your thoughts carefully. Whatever you think about, combined with the emotions of desire or fear, you will attract into your life. Be sure that you are attracting what you want by continuing to think only about what you want.
Second, keep feeding your mind with new information, ideas and pictures of the person you want to be and the life you want to live. By creating this inner attitude of mind, you change the outer aspects of your reality.
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Tags: Financial Success
Posted by Brian Tracy on Sep 12, 2008
The starting point of all riches is the development of a prosperity consciousness.
You must become a financial success in your thinking long before you achieve it in your reality. Both poverty and riches are the result of a state of mind, and the most important single step you ever take on the road to wealth and financial independence is the decision to change your thinking, to impress into your mind an unshakable belief that you can and will achieve your financial goals. This must happen before anything else happens.
Think And Grow Rich
When I was growing up, I was fascinated by stories of successful men and women and how they made and lost their fortunes, and then made them over again. I read about the importance of a prosperity consciousness in the book, Think And Grow Rich, by Napoleon Hill, several times. But I never fully understood what it meant until about five years ago. Then it hit me and I’ve never been quite the same since. Every aspect of my life has improved dramatically, especially in the area of accumulating wealth, since I finally understood what is meant by a prosperity consciousness.
Two Great Discoveries
Here are two of the most exciting principles ever discovered in the long search by mankind for the secrets of health, happiness and great personal wealth.
All Causation is Mental
The first principle is this. All causation is mental. That means that everything that you are or ever will be will be a result of how you use your mind. You are merely a mind with a body to carry it around with. The entire man made world that you see is simply an expression of thought. Your entire life is an expression of your own thinking. And since the quality of your thinking determines the quality of your life, if you improve the quality of your thinking, you must, you will, inevitably improve the quality of your life.
Change Your Thinking, Change Your Life and see results!
The Law of Expectations
The second principle is what we call the law of expectations. This law says that whatever you expect with confidence, positive or negative, becomes your reality. If you confidently expect to succeed, if you confidently expect to learn something from every experience, if you confidently expect to become wealthy as a result of applying your talents and abilities to your opportunities and you maintain that attitude of confident expectations long enough, it will become your reality. It will give you a positive optimistic cheerful attitude that will cause people to want to help you, and will cause things to happen the way you want them to happen.
Action Exercises
Here are two things you can do immediately to practice these principles in your day to day life:
First, start thinking today in a positive, optimistic, confident way about personal and financial success. Continually imagine what differences it would make in your life if you were financially independent. This is the starting point of developing a prosperity consciousness.
Second, develop your own attitude of positive expectations. Look for the good in every situation. Look for the valuable lesson in every setback or difficulty. Be positive and cheerful about everything that happens and you will be amazed at the difference it makes in your life.
Change Your Thinking, Change Your Life
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Posted by Brian Tracy on Aug 29, 2008
Why People Succeed or Fail
Parkinson’s Law is one of the best known and the most important laws of money and wealth accumulation. It was developed by English writer C. Northcote Parkinson many years ago and it explains why most people retire poor.
The Way the Law Works
This law says that, no matter how much money people earn, they tend to spend the entire amount and a little bit more besides. Their expenses rise in lockstep with their earnings. Many people are earning today several times what they were earning at their first jobs. But somehow, they seem to need every single penny to maintain their current lifestyles. No matter how much they make, there never seems to be enough.
The Key to Financial Success
The first corollary of Parkinson’s Law says: "Financial independence comes from violating Parkinson’s Law."
Parkinson’s Law explains the trap that most people fall into. This is the reason for debt, money worries and financial frustration. It is only when you develop sufficient willpower to resist the powerful urge to spend everything you make that you begin to accumulate money and move ahead of the crowd.
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Slow Down Your Spending
The second corollary of Parkinson’s Law is: "If you allow your expenses to increase at a slower rate than your earnings, and you save or invest the difference, you will become financially independent in your working lifetime."
This is the key. I call it the "wedge." If you can drive a wedge between your increasing earnings and the increasing costs of your lifestyle, and then save and invest the difference, you can continue to improve your lifestyle as you make more money. By consciously violating Parkinson’s Law, you will eventually become financially independent.
Action Exercises
Here are two things you can do to apply this law immediately:
First, imagine that your financial life is like a failing company that you have taken over. Institute an immediate financial freeze. Halt all non-essential expenses. Draw up a budget of your fixed, unavoidable costs per month and resolve to limit your expenditures temporarily to these amounts.
Carefully examine every expense. Question it as though you were analyzing someone else’s expenses. Look for ways to economize or cut back. Aim for a minimum of a 10 percent reduction in your living costs over the next three months.
Second, resolve to save and invest 50 percent of any increase you receive in your earnings from any source. Learn to live on the rest. This still leaves you the other 50 percent to do with as you desire. Do this for the rest of your career.
The Way to Wealth System
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Posted by Brian Tracy on Aug 22, 2008
The Law of Capital - your most valuable asset, in terms of cash flow, is your physical and mental capital, your earning ability.
Your Earning Ability
You may not even be aware that, unless you are wealthy already, your ability to work is the most valuable asset that you have. By utilizing your earning ability to its fullest, you can bring thousands of dollars each year into your life. By applying your earning ability to the production of valuable goods and services, you can generate sufficient money to pay for all the things that you want in life. The amount of money that you are paid today is a direct measure of the extent to which you have developed your earning ability so far.
Use Your Time Well
The first corollary of the Law of Capital says: “Your most precious resource is your time.” Your time is really all you have to sell. How much time you put in and how much of yourself you put into that time, largely determines your earning ability. Poor time management is one of the major reasons for poor productivity and underachievement in every industry in America. It is the number one problem for both managers and salespeople in every field.
Invest Yourself Carefully
The second corollary of the Law of Capital says: “Time and money can be either spent or invested.” One of the smartest things that you can do is to invest three percent of your earnings every month back into yourself on personal and professional development, on becoming better at the most important things you do. In fact, if you just invested as much in your mind each year as you do in your car, that alone could make you wealthy.
Invest one hour of your time reading in your field every day. Listen to audio programs in your car. Attend every course that can advance you in your career. Get personal and professional coaching to help you to get the very best out of yourself.
Get Better At the Things You Do
There is nothing that will give you a bigger and better “bang” for your buck than reinvesting a part of your time and money back into your capability to earn even more. All wealthy and successful Americans have learned this sooner or later, and all poor and unhappy Americans are still trying to figure it out.
Watch this video on the story of The Universal Laws of Success and Achievment.
Increase Your Return on Life
The third corollary of the Law of Capital says: “One of the best investments of your time and money is to increase your earning ability.”
The purpose of corporate strategic planning is to increase “return on equity” or ROE. This requires organizing and reorganizing corporate activities so that the company is earning a higher return on the capital invested in the organization. In your work life, your personal equity is your mental and emotional capital. Your job then is to earn the highest possible return on your human capital, to increase your “return on energy.” This way of viewing yourself must become a key part of your attitude throughout your work life.
Action Exercises
Here are two things you can do to apply this law immediately:
First, take a list of your output responsibilities, the things you do that represent accomplishments, not activities. Examine the list and rank the tasks by priority, on the basis of the value of the work to your company.
Second, take a list of all the things you do, day in and day out. Take this list to your boss and ask him or her to rank your tasks in terms of how valuable he or she considers them to be. Then resolve to work on your most valuable tasks every minute of every day.
This is only 1 of 149 Universal Laws of Success and Achievement
Universal Laws are at work whether you know about them or not. These laws explain why some people are more successful than others. By knowing them, you can explain and predict the workings of the world - and allow them to work in your favor.
Learn all The Universal Laws of Success and Achievement today.
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Tags: Financial Success
Posted by Brian Tracy on Aug 15, 2008
Attitude is Everything
The most important attitude for financial success is long-term thinking. Successful people think a long way into the future and they adjust their daily behaviors to assure they achieve their long-term goals. In a longitudinal study done at Harvard University in the 50s and 60s, they studied the reasons for upward socio-economic mobility. They were looking for factors that would predict whether or not an individual or family was going to move upward and be wealthier in the future than in the present.
They studied factors like education, intelligence, being born into the right family, or having the right connections. In every case, they found individuals who had been born with every blessing in life who did poorly. They also found individuals who had been born or come to this country with no advantages at all who had been extremely successful. What was the distinguishing factor?
They finally determined that there was only one key attitude that mattered. They called it "Time Perspective." Time perspective refers to the amount of time that you take into consideration when planning your day to day activities and when making important decisions in your life.
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Time Perspective
People with long-time perspective invariably move up economically in the course of their lifetimes. When you spend weeks, months and years developing your skills and ability and expanding your experience in order to be successful, you have long-time perspective. The average professional person has a time perspective of 10, 15 and 20 years.
Begin to see that everything that you are doing today is part of a long-time continuum, at the end of which you are going to be financially independent or financially unfortunate. People with short-time perspective think only about fun and pleasure in the short term. They have what economists call "The inability to delay gratification." They have an irresistible tendency to spend every single penny they earn and everything that they can borrow.
When you develop long-time perspective, you develop the discipline to delay gratification and to save your money rather than spending it. The combination of long-time perspective and delayed gratification puts you onto the high road to financial independence.
Action Exercises
Now, here are two things you can do to develop the attitudes of financially successful people:
First, think long-term about your financial life. Decide exactly how much you want to be worth five years, ten years and twenty years from today. Write it down. Make a plan. Take action on your plan every single day.
Second, develop the ability to delay gratification. Instead of buying something on impulse, put off buying decisions for a day, a week or even a month. Decide in advance to "think it over" before you buy anything. This can change the way you spend money almost immediately.
Time Power Package
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Posted by Brian Tracy on Aug 8, 2008
Start From Nothing and Become Financially Independent
More than eighty percent of self-made millionaires in America began with nothing or in many cases, less than nothing. I can certainly relate to that because when I was growing up and right into my early 30s, I never had any extra money with which to start a fortune. It seemed to me that there was always enough, if not more than enough bills, to absorb every penny I earned. I was always in debt.
Be Ready for Your Opportunity
And even if a great business opportunity did come along, I wouldn’t have been able to do anything with it. As I began studying financial success and self-made millionaires, I noticed that almost everyone around me was in pretty much the same boat. The idea of becoming really wealthy was a distant dream with very little possibility of coming true. You may be in the same situation, with more bills than money or assets.
Look at the Numbers
The statistics are a little scary. Of 100 people who reach retirement age, according to insurance industry statistics, only one will be wealthy. Four out of the hundred will be financially independent; fifteen will have some savings put aside. And the other 80 will be dependent on pensions, still working or broke - this after a lifetime of well-paid work in the most affluent society in human history. Now why does this happen?
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Why People Retire Poor
There are two main reasons why people retire poor. First, they never decide to retire rich. They wish and hope and pray, but they never make a firm, unequivocal decision that they’re going to do it. Second, even if they do decide to retire rich, they procrastinate until it’s too late. They always have some good reason for putting it off.
Start With Desire and Decision
If you sincerely want to beat the odds, to achieve financial independence and retire wealthy, there are four critical steps that you must take, all starting with the letter D.
The first step is desire. You must want it badly enough to make an unshakable commitment and to be willing to make sacrifices. The second D is decision. You must make a decision right now to do whatever is necessary, to be willing to pay any price, go any distance, to achieve your goal.
Practice Determination and Discipline
The third D is determination, which is to keep at it until you succeed in spite of all the problems and obstacles you will experience. And the fourth D is discipline - the discipline to master yourself to develop the habits necessary for achieving financial independence.
Those are the four Ds. Desire, Decision, Determination and Discipline. And you can measure how successful you’re going to be in the future by measuring how well you’re doing in each of those on a scale of one to ten.
Action Exercises
Here are two things you can do immediately to put these ideas into action.
First, make a decision, right now, that you are going to be financially independent, no matter what obstacles you face in the short term. Then write it down, make a plan and start to work on it every single day.
Second, resolve in advance that you will persist in the face of every setback or obstacle you face. You will never give up. You will keep on moving forward until you finally achieve your goal.
Million Dollar Habits
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Posted by Brian Tracy on Jul 25, 2008
W. Clement Stone once said, “If you cannot save money, then the seeds of greatness are not in you.”
Throughout the history of American enterprise, you’ve heard the words, "work hard and save your money." Work hard and save your money. It is the oldest rule for success in America. It’s so important, as a matter of fact, that W. Clement Stone once said, "If you cannot save money, then the seeds of greatness are not in you."
Saving is a Discipline
Why is it that saving money is so important? Because saving money is a discipline and any discipline affects all other disciplines in your life. If you do not have the discipline to refrain from spending all the money that you earn, then you are not qualified to become wealthy and if you do become wealthy, you’ll not be capable of holding on to it.
The Law of Attraction
A principle with regard to saving your money is the law of attraction. The law of attraction is activated by saved money. Even one dollar saved will start to attract more money. Here’s what I suggest that you do. If you’re really serious about your future, go down and open a savings account. Put as much money as you can into it, even if it’s only ten dollars. And then begin to collect little bits of money, and every week go down and put something into that account.
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Attract More Money Into Your Life
You will find that the more you put in that account, the more you will attract from sources that you cannot now predict. But if you do not begin the savings process, if you don’t begin putting something away towards your financial independence, then nothing will happen to you. The law of attraction just simply won’t work.
Invest Your Money Conservatively
Once you begin to accumulate money, here’s another rule. Invest the money conservatively. Marvin Davis, self-made billionaire, was asked by Forbes Magazine, "How do you account for your financial success?" And he said, "Well, I have two rules for financial investing." He said, "Rule number one is, don’t lose money." He said, whenever I’m tempted, whenever I see an opportunity to invest where there’s a possibility I could lose it all, I just simply refrain from putting the money in. Rule number two is, whenever I get tempted, I refer back to rule number one. Don’t lose money.
Get Rich Slowly
George Classon says, in The Richest Man In Babylon, that the key is to accumulate your funds and then invest them very conservatively. One of the characteristics of self-made millionaires, one of the characteristics of old money in America is that it’s very cautiously, conservatively and prudently invested.
Don’t try to get rich quickly. Concentrate rather on getting rich slowly. If all you do is save ten percent of your earnings, put it away, and let it accumulate at compound interest, that alone will make you wealthy.
Action Exercises
Here are two things you can do to apply these lessons to your financial life:
First, open a separate savings and investing account today. From this day forward, put every single dollar you can spare into this account and resolve to never touch it or spend it for any reason.
Second, whenever you consider any investment of your savings, remember the rule, "Don’t lose money!" It is better to keep the money working at a low rate of interest than to take the chance of losing it. Be careful. A fool and his money are soon parted.
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Tags: Financial Success
Posted by Brian Tracy on Jul 18, 2008
Eight Keys to MLM Success
If you’re looking at a multi-level marketing opportunity, here are eight key considerations. Look for a multi-level business that has, number one, quality products with a good reputation. Never waste your time trying to sell anything that is not of excellent quality. Quality products are the starting point of your success in business. No successful business can ever be built on an average or mediocre product.
Look for Competitive Prices
Number two, look for a company that has prices that compare favorable with the competition. Remember, nobody’s going to pay more for your product or service if they can get the same or equivalent somewhere else at a lower price. So check the price comparisons.
Demand a Money Back Guarantee
The third thing you look for is a 100 percent unconditional money-back guarantee. In other words, the product must be so good and the company must stand behind it so strongly that they’re willing to give a 100 percent refund guarantee on anything that they sell. That’s a very good rule for starting and building any business.
Carry a Small Inventory
The fourth key in finding a multi-level marketing opportunity is that there should be a small or zero inventory requirement. You should be able to get into a multi-level marketing business with very little money. Not more than a hundred dollars.
Keep Good Records
The fifth requirement is that the company provides prompt delivery and efficient internal bookkeeping. A multi-level marketing business that’s well organized will be able to deliver your products within 24 or 48 hours for you to sell, or deliver to your customers. They’ll also take very good care of the books and give you accurate financial statements each month.
Keep your customers coming back with Customers for Life
Seek a Strong Support Organization
A sixth thing to look for is a strong support organization. This is perhaps as important, if not more important, than anything else. Look for a support organization that will offer you training, that will give you seminars on product knowledge, that will give you motivation, and give you opportunities for personal and business development. Many people who have started with multi-level marketing companies have gone on to be very successful in their own businesses because of the training they got from the multi-level company. If the company doesn’t have a training system, try to find a company that does.
Honesty is the Best Policy
The seventh factor that you require is honesty and integrity. Make sure that the parent company has an impeccable reputation in the marketplace. Remember it has to be a company that you can be proud of. You should never have to make excuses for the company you’re working for.
Product Should be Consumable
Products should be consumable, leading to reorders and repeat business. You should try to sell a product that people use up on a regular basis, so that if they’re happy with it, they’ll continue to reorder and reorder and reorder. And once you get a customer, sometimes you can have a customer for years.
Action Exercises
Here are two things you can do to put these ideas into action:
First, look for a product that you really like, use and enjoy yourself personally. You can only sell something to someone else if your heart is in it. And if your heart is in it you will enjoy using the product yourself.
Second, look for a product that has something new or special that makes it different and better than any other similar product in the market today. The number one reason that any product fails is because it is not superior to and different from the competition.
Customers for Life
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Tags: Financial Success
Posted by Brian Tracy on Jul 11, 2008
What do wealthy people do or have that enables them to accomplish so much more than the average?
I believe that these people are successful as a result of what I call leverage. Leverage is the key to maximizing and multiplying your potential for success and financial achievement. Here are three examples of leverage that you can develop to achieve financial independence:
Become an Expert
First, become an expert in your chosen field. Read all the books, take all the courses, listen to all the audio programs. Second, specialize in those areas that are of greatest importance and greatest value to your company or to your customers. And the third key is know your product or service inside out. Aim to be recognized as the industry expert in your field. Remember the person who has the expertise has a far greater contribution to make than the person whose knowledge is just average.
Develop Your Skills
The second type of leverage is skill. The better you are at your job, the more you will be paid. The top 20 percent of salespeople earn as much as ten and fifteen times the average earnings of the bottom 80 percent. There are three keys to developing the leverage of skill. First, make a decision to be the best. Pay any price. Make any sacrifice. Go any distance to become excellent at what you do. Second, engage in continuous improvement. Never allow yourself to become satisfied or complacent at your current level of skill. And third, always strive to exceed the expectations of your customers, your boss, of the people you serve. Always do more and better than you’re paid for.
I’ve found the secret of how people become millionaires and I want to share it with you!
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Save Your Money
The third type of leverage is money. Money is a powerful source of leverage and usually follows the development of knowledge and skill in your field. One of the reasons that it takes money to make money is that the accumulation of funds is an essential step in the development of the personal qualities and character that must precede the achievement of financial independence. In other words, you become the person capable of becoming financially independent by accumulating the funds that are necessary for you to achieve it.
Action Exercises
Here are two things you can do immediately to put these ideas on personal leverage into action:
First, resolve today to become an expert in your chosen field. Set it as a goal, make a plan and work every day to become a little bit better in the most important things you do.
Second, develop the habit of saving money out of every single paycheck. It was once said that, "If you cannot save money, the seeds of greatness are not in you." The very act of regular saving changes your character and gets you ready to achieve financial independence.
Money, Money, Money
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Tags: Financial Success
Posted by Brian Tracy on Jul 7, 2008
The Law of Abundance- there is ample money for everyone who knows how to acquire it and keep it.
We live in an abundant universe in which there is sufficient money for all who really want it and are willing obey the laws governing its acquisition.
You Can Have All You Want
There is plenty of money available to you. There is no real shortage. You can have virtually all you really want and need. We live in a generous universe and we are surrounded on all sides by blessings and opportunities to acquire all we truly desire. Your attitude, of either abundance or scarcity toward money, will have a major impact on whether you become rich or not.
Make a Decision
The first corollary of the Law of Abundance says that, "People become wealthy because they decide to become wealthy."
They become wealthy because they believe they have the ability to become wealthy. Because they believe this completely, they act accordingly. They consistently take the necessary actions that turn their beliefs into realities. And you can always tell what your beliefs really are by looking at your actions. There is no other way.
The second corollary of this law says: "People are poor because they have not yet decided to become rich."
Decide to become rich and Get Out of Debt
Examine Your Own Thinking
In the book, The Instant Millionaire, by Mark Fisher, the old millionaire asks the boy who has sought his advice about becoming a millionaire, "Why aren’t you rich already?"
This is an important question to ask yourself. However you answer this question will reveal a lot about yourself. Your answers will expose your self-limiting beliefs, your doubts, your fears, your excuses, your rationalizations and your justifications.
Review Your Reasons
Why aren’t you rich already? Write down all the reasons you can think of. Go over your answers one by one with someone who knows you well and ask them for their opinion. You may be surprised to find that your reasons are mostly excuses that you have fallen in love with.
Whatever your reasons or excuses, you can now get rid of them. The world is full of hundreds and thousands of people who have had far more difficulties to overcome than you could ever imagine, and they’ve gone on to be successful anyway. So can you.
Action Exercises
Here are two things you can do to apply this law immediately:
First, imagine that every experience you have ever had with money contained a special lesson that was designed just for you to help you to ultimately become financially independent. What are the most important lessons you have learned so far?
Second, analyze yourself honestly and determine your biggest block, your major self-limiting belief that holds you back from becoming more successful financially. Resolve to act from now on as if this block no longer exists.
Get Out of Debt
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Tags: Financial Success
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