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Are You Developing Millionaire Habits?
Posted by Nicky Coffin
In our last article we talked about the power of the mindset phenomenon known as cause and effect.
Today I want to explore something on a similar line and that is the effect our habits have on us.
We are taught from an early age that cultivating ‘good’ habits is what we should strive for if we want to live a happy and healthy life.
We clean our teeth, we drink 2 litres of water a day, and we take the stairs instead of the elevator. We all know the drill; don’t we?
When it comes to our business life it’s easy to forget how useful habits can be as a way to help us perform at our best and achieve our goals; especially those daily rituals that we implement consistently.
Thomas Corley studied the habits of 177 self-made millionaires. From his research he was able to demonstrate the cause effect relationship of certain habits and how they were a common theme running through the lives of these amazing men and woman.
The premise is that if we model these behaviours/habits/rituals into our lives we too could become millionaires? Though there is a bit more to it than that, it’s a great starting point for all of us.
Richard Branson attributes a portion of his success to his love of exercise and being able to swim round Necker Island every day. Fantastic if you have your own Island! Though what about you and I? How can we integrate habits into our daily life?
The truth: It’s much easier than we all realise. It’s the consistency and the compound effect that makes the difference.
So here are a number of key habits that Corley identified that anyone reading this article can start as soon as tomorrow.
1. They get up early
The old quotation about the early bird catching the worm obviously has a foundation. It’s common that these individuals get up at least 3 hours before the ‘official’ start of their working day.
It’s a fantastic strategy (and one I use myself) to deal with the disruptions that are inevitable, such as a meeting that went on too long, or the plethora of things business owners like you and I have to deal with on a daily basis. In my own experience when the phone isn’t ringing and the first flood of emails hasn’t started to arrive there is space to focus and act in a way that doesn’t seem to happen during the rest of the day.
2. They exercise
According to Corey over three quarters of the 177 millionaires he studied exercised every day. Even allowing for the odd stretching of the truth this is a huge figure. Primarily this was aerobic exercise.
The correlation between success and exercise is logical when you consider our biological make up.
Cardiovascular exercise is good for the body and the brain. It increases the production of glucose, which is brain fuel. The more fuel you feed your brain, the more it grows and in theory the smarter you become.
3. They hang out with other smart people
Jim Rohn the well-known business mentor and New York Times bestselling author, is often quoted as saying, we are a sum of the people we hang out with and the books we read.
Talk to any parents with teenagers and they will share with you their angst about who their impressionable children are hanging out with. It’s natural and I know I will feel exactly the same as Calum gets older (yikes).
This is based on our own experience of the impact our close connections have on us and how it impacts our lives for the good; or not.
Negative people can be toxic and can have an unconscious effect on our mindset. It’s a much better idea to seek out people to hang out with that will support our goals who are enthusiastic and optimistic.
These folks are great to be around and help lift us up to success. In our own mastermind programmes here at Centredexcellence many of the delegates value the chance to interact with like-minded recruitment owners like themselves.
I totally understand that this would be a habit to be cultivated. Imagine being surround by people who are a few steps ahead and being able to ‘hang’ out with them. Do you think you would get some ideas and best practise strategy? Perhaps even see a potential issue on the horizon that you can deal with because you have access to advice from someone that has been there, seen it, done it and worn the tee shirt? I think so; don’t you?
4. They are avid readers
I can definitely tick this box. My bookcases are overflowing and my ipad is running out of space. Knowledge really is power. Of the 177 millionaires questioned 88% of them devote at least 30 minutes a day to self-education. That isn’t skimming on Facebook its picking up a book, downloading and listening to a podcast or signing up for a webinar.
For many millionaires reading is about education and enlightenment rather than entertainment. This links to hanging out with smart people. I too invest in my education and growth and in my personal mastermind group we consistently share our favourite books.
Struggling on where to start? Google the top business books or ask for recommendations. Go to Amazon and search on the books with the highest reviews.
How do you fair? How many of these are you actively implementing in your daily rituals?
I would love to know. Email me and let’s have a chat.
High performing consultants are the lifeblood of any successful recruitment organisation. The challenge starts when your recruiters underperform. There is a solution and I cover it in-depth in my latest ebook; How to Convert Your under Performers to Consistent Billers in 14 Days or less. You can download it here.