The 21 Success Secrets of Self Made Millionaires by Brian Tracy. The title may be a mouthful, but there is enough little pieces of information to bite off in this book that will keep you satisfied for years.
It is a great one hour read, with some foundations you can apply to your life at any age or stage, and for any goal, not just making money.
Complete with exercises to apply the theory, it can help you to focus and motivate you to kick start your journey.
The rags to riches success is worth following for the simple fact that it is a template that can be applied to anyone’s life. Self made millionaires started out on the same playing field. There were no advantages. Therefore, anyone can follow the same principles and expect to see the same results. Tracy (p.viii, 2001) explains in the preface “I chose self-made millionaires as my focal point because these people had demonstrated special qualities and behaviours that were both observable and measurable. They had started with nothing and passed the magic million-dollar mark as the result of doing certain things in a certain way, over and over.”
Here are some ideas to chew on.
“Nobody is better than you and nobody is smarter than you.” (Page 2)
“What one thing would I dare to dream if I knew I could not fail?” (Page 7)
“You are always the president of your own personal service corporation, no matter where you might be working at the moment. ” (Page 14)
You are always representing and selling yourself as you business and brand, regardless of who you work for or where you work.
“If you won a million dollars tax free, tomorrow, would you continue to do what you are currently doing? (…) what would you do if you had all the time and money you needed and were free to choose your occupation.” (Page 17)
“When you are really good at what you do, you feel wonderful about yourself.” He writes that you should “ask yourself what one skill, if I developed and did it in an excellent fashion, would have the greatest positive impact on my life?” (Page 20)
Tracy on self made millionaires “they start earlier, they work harder, and they stay later.” (Page 22)
“practice the 40 plus formula. The formula says that you work 40 hours per week for survival; everything over 40 hours is for success.” (Page 22)
“work all the time you work” (Page 23) In other words, don’t sit there checking your social media or chatting with your colleague about who won the game. Work.
“leaders are learners” (Page 26)
“read in your field for at least 30-60 minutes each day” (Page 26)
“reading is to the mind as exercise is to the body” (Page 26)
On the value of listening to audio books. “Turn your car into a learning machine, into a university on wheels.” (Page 27)
“attend every course and seminar you can possibly find that can help you to be better in your field” (Page 27)
“resolve today that you are going to save and invest at least 10 percent of your income throughout your working life. (Page 29)
“the fact is that if you save $100 per month…page 29
“This means that anyone, even a person earning minimum wage, if he or she starts early enough and saves long enough, can become a millionaire over the course of his or her working lifetime.” (Page 29)
“practice frugality, frugality, frugality in all things. Be very careful with every penny. Question every expenditure. Delay or defer important buying decisions for at least a week, if not a month.” (Page 30)
“a major reason that people retire poor is because of impulse buying” (Page 30)
“All self made millionaires have an obsession with customer service.” (Page 36)
“Keep asking yourself these questions, what do my customers really want? What do my customers really need? wHat do my customers consider value? wHat can I give my customers better than anyone else? wHy are my customers buying from others today, and what would I have to offer them to get them to buy from me?” (Page 36-37)
“Your success in life will be in direct proportion to what you do after you do what you are expected to do” (Page 37)
“always look for opportunities to do more than you are paid for.” (Page 37)
“Here is a question for you to ask and answer on a regular basis: What kind of a world would my world be if everyone in it was just like me? This question forces you to set high standards for yourself and keep raising the bar.” (Page 40)
“Act as though your every word and action were to become a universal law.” (Page 40-41)
“Carry yourself as though everyone were watching and patterning his or her behaviour after yours.” (Page 41)
“Time is the currency of the 21st century” (Page 45)
“Instant gratification is no longer fast enough” (Page 46)
“People who have a reputation for moving quickly attract more opportunities and possibilities to them” (Page 46)
As Tracy says “Success is predictable. Success is not a matter of luck or accident or being in the right place at the right time.” (Page 73). If you are prepared to be constantly learning, saving and being disciplined, success is guaranteed.
And if that is the case, we can all be millionaires!
Has anyone read any of Brian Tracy’s books? Is there any other advice of his that you have applied to your life?