Continuous learning

"Continuous learning is the absolute requirement for success in any field." The reason I say this is because the only moment in time when you are not learning is when you are dead. We start learning the moment we are born into this world. Everything that we venture for the first time has a learning curve. Whether they are playing sports, learning musical instruments or starting in a new job has its own learning curve. Successful people will always try to learn as much as they could in their new field and speed up their learning curve in order to become competent. While, people who fails usually has less patient and tend to quit early. By staying focus and adopting a continuous learning attitude, you can excel in any field you choose as long as you can withstand the learning curve barrier.

Creating or Uncreating Habits

"The beginning of a habit is like an invisible thread, but every time we repeat the act we strengthen the strand, add to it another filament, until it becomes a great cable and binds us irrevocably, thought and act." - Orison Swett Marden

Our mind is a very powerful supercomputer. It will detect things that we do repeatedly either we aware of it or not, and programmed it into our subconcious mind and set it as autopilot every time we encounter the same experience. For example, if you start a new habit of waking up late and consistently doing it for 21 days, your mind will accept it as a habit and therefore you will have hard time to woke up early after that as the habit has been programmed to your brain. Habits are not borned in us but created by us. The way we do things in our daily routines will become habits as our mind wants to ease the operation of the brain and therefore it can make room for other new input and tasks. Knowing the power of the brain and the way it works can help us to develop the character that we want.

Sunken Ship

How to know that you are already in heavy debt? These are some indicators stated on the book by Azizi Ali, Millionaires are from a different planet!

1) Missing payments
2) Paying less than the agreed amount
3) Paying the minimum due
4) Busting your credit limit on the credit card
5) Having to borrow more money to settle old debt commitments
6) Not able to handle minor financial emergencies
7) Avoiding calls of creditors
8) Wondering how on earth are you going to get out of this mess

So, if you are having some or all of the symptoms as stated above, you are in big trouble. Having debt is like cruising the sea in a sunken ship. The more holes the ship have, the more deeper the ship will sank. Therefore, the first immediate step you should do is to try to find the biggest hole in the ship and plug it quickly. In the financial world, it means try to identify which debt carries the highest interest and eliminate it quickly.

The 80/20 Rule

"The first law of success is concentration - to bend all the energies to one point, and to go directly to that point, looking neither to the right nor to the left." - William Mathews

The power of effective action is by knowing what to focus on and making it happen fast. By applying the universal law known as Pareto rule, 80/20, we can be certain that in order to successfully complete a task efficiently is by focusing on the 20%, or the most critical part of the task. By tackling the 20%, the rest 80% will follow suit. We are bounded by time and therefore this law will be helpful in reducing the amount of time and work required in our journey to success.

Characteristics of Successful People

There is no one sure way of path to becoming rich. But there are certain characters and attributes of people that give them an advantage and the ability to create wealth. These people usually have these following characteristics:-
1) They are dilligent people.
2) They do not waste time, they do not procrastinate and work hard in everything they do
3) They will always try to be good and efficient in whatever they do
4) They have multiple streams of income
5) They control their spendings and moderate in living
6) They pay themselves first
7) They save more and spend less
8) They rise early in the morning

The Money Trap

The major reason why so many people are struggling financially is because when every time they get an increase in their salary or making more money, they also increase their spending habits. These includes getting into a larger debt, buying more items that are not a necessity in the first place. As I can quote from a book entitled Cashflow Quadrant by Robert T. Kiyosaki
"It's not how much you make, but it's how much you keep, how hard it work for you, and how many generations you keep it for."

Success Quotes

"Most people live - whether physically, intellectually or morally - in a very restricted circle of their potential being. We all have reservoirs of life to draw upon of which we do not dream." - William James

"The great end of life is not knowledge but action." - Thomas Henry Huxley