Monday , 24 October 2016

How Do You Measure Up Against These 15 ‘Successful People Traits’?

Objective and independent thinking is increasingly important to investing and trading success, particularly in the current and prospective economic and financial market times. How do you score yourself against the 15 ‘successful people traits’ outlined below?

So asks Aimee Groth ( in an article* regarding how successful people think as put forth in John C. Maxwell’s New York Times bestselling book, How Successful People Think. 

Lorimer Wilson, editor of (Your Key to Making Money!), has further edited ([  ]), abridged (…) and reformatted the article below for the sake of clarity and brevity to ensure a fast and easy read. The author’s views and conclusions are unaltered and no personal comments have been included so as to maintain the integrity of the original article. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.

Groth goes on to say, in part:

[Maxwell introduces his book with the words “The world’s most successful people have one thing in common: they think differently from everyone else” and below are the 15 traits he mentions as being associated with such successful people:]
  1. Thinking is a discipline – work at it. Consider developing a thinking schedule…[setting] aside a half day every two weeks, a whole day every month, and two or three full days every year.
  2. Figure out where you need to focus your energy, and then use the 80/20 rule. Devote 80% of your energy to the most important 20% of your activities. Remember that you can’t be everywhere, know everyone, and do everything… Avoid multitasking: it can cost you 40% efficiency.
  3. Expose yourself to different ideas and types of people. [Be] selective about spending most of your time with people who challenge you.
  4. If you have an idea then follow through. “Ideas have a short shelf life. You must act on them before the expiration date.”
  5. Thoughts need time to develop. Don’t just settle on the first thing that comes to mind. Remember the last time you had a brilliant idea at 2 a.m., but it sounded sort of ridiculous when you woke up the next morning? Thoughts need to be “shaped until they have substance” and need to stand the test of “clarity and questioning”.
  6. Collaborate with other smart people. Thinking with others yields higher returns. It’s like giving yourself a shortcut. That’s why brainstorming sessions are so effective.
  7. Reject popular thinking (which often means not thinking at all). Too many people act, hoping that others have thought things through first. To reject popular thinking you must be OK with feeling uncomfortable. Also remember that right now, there are a bunch of other people out there deciding to think for themselves — and they are the ones who are successful.
  8. Plan ahead, while leaving room for some spontaneity. When you’re strategic, you reduce your margin of error. Simply having vague ideas of where you are and what you want to accomplish will get you no where. The keys to being strategic are: 1. break the issue down, 2. ask why the problem needs to be solved, 3. identify the key issues, 4. review your resources, 5. put the right people in place. [As] Henry Ford once said, “Nothing is particularly hard if you divide it into smaller parts.
  9. To think differently, do different things. Try new routes to work, meet new people, read books you might even consider boring. The key is exposure to new ideas and ways of life.
  10. To appreciate others’ ideas, you need to value other ideas. You can’t think you’re always right. Give other concepts a chance. Have an agenda — for the day, and when you meet with people.
  11. Take time to plan out your weeks, months, and long-term goals — and then they follow through…Don’t walk into meetings, parties and coffee dates blind…Decide what you want to learn from people before walking through the door.
  12. [Undertake] reflective thinking to give you perspective and confidence in your decision-making skills. If you’re not reflecting, it’s holding you back more than you think. As Socrates said, “An unexamined life is not worth living.”
  13. Get over negative self talk. Winners think in terms of “I will” and “I can.” Smart people don’t see limitations, they see possibilities. Former baseball star Sam Ewing once said that “nothing is so embarrassing as watching someone do something that you said could not be done.”
  14. Creative people are dedicated to ideas. They embrace ambiguity, don’t fear failure, and hang out with other creative people.
  15. Naturally optimistic people find it hard to be realistic thinkers. A realistic perspective allows you to get close enough to a problem in order to tackle it. Facing potential consequences also helps you be more efficient, and it gives you credibility. To become a more realistic thinker, you must:
    1. appreciate the truth,
    2. do your homework and get the facts,
    3. think through the pros and cons,
    4. consider the worst-case scenario, and
    5. align your thinking with your resources.

At the end of the day, it’s important to remember we can all change the way we think. Learning how to master the process of thinking well leads you to productive thinking. If you can develop the discipline of good thinking and turn it into a lifetime habit, then you will be successful and productive all of your life.


Related Articles:

1.  2 Ways to Reduce Your Debts Using the “Snowball” Method

What is the best way to reduce debt? The most-efficient means is probably the snowball method. There are two main variations of the snowball method, but you must consider your personality to determine which of the two is right for you. [Let me explain.] Words: 1251

2.  10 Money Ideas That WILL Change Your Life

Personal finance isn’t nuclear physics – just spend less than you earn, save and invest the rest – but knowing what should be done and actually doing it, however, are two different things. Here are 10 money lessons I wish I had known when I was 20 which have the power to change your life if you are willing to embrace them. Words: 1340

3.  In Debt? Here are 10 Ways Out

When people talk about getting their personal finances in order, they usually try to find relatively pain-free and low-cost ways to reduce debt and increase savings but this is a long-term approach which some people just cannot “afford”. [For them] …it may be worthwhile to consider taking the hard way out of debt. [Let me explain.] Words: 1370

Consumers should follow a few basic rules to protect their money…Let’s review 10 of them: Words: 620

5.  Don’t be Cheap, be Frugal! Here are 10 Ways to Get More for Your Money

Frugality often gets a bad rap. Many people misunderstand frugality and assume that it’s nothing more than being “cheap” when, in reality, frugality is making sure that you get the most from the money and resources you have, even if they are limited. [Here are 10 ways to do just that.] Words: 1132

6.  Are You a Millionaire? 10 Reasons You May Not Be and What to do About It

The reason you are not a millionaire (or even on your way to becoming one) is really quite simple. You probably assume it’s because you aren’t earning enough money but the truth is that, for most people, it does not matter how much money you make… [but, rather,] the way you treat money in your daily life. [Let me explain.] Words: 875

Many people assume they aren’t rich because they don’t earn enough money. If I only earned a little more, I could save and invest better, they say. The problem with that theory is they were probably making exactly the same argument before their last several raises. Becoming a millionaire has less to do with how much you make, it’s how you treat money in your daily life. The list of reasons you may not be rich doesn’t end at 10. [Here are 10 more.] Words: 842

8.  Do You Have What It Takes to Become Filthy Rich?

Saving money isn’t all about whether or not you know how to score screaming bargains. It has more to do with your attitude toward money. Many millionaires, in fact, have frugal ways and understanding how personal traits can influence your finances is an essential ingredient for building wealth. Do you have the 10 key traits to become rich let alone very, very rich? Words: 815