Every entrepreneur has big dreams, though very few people put in enough work to make their dreams a success.
Are you a dreamer or a doer? Dreaming is easy while making it happen is really difficult.
In this blog post I’m going to discuss how to make the best of 2018.
1. Set Priorities
Finding success is all about setting your priorities. Whether it is a daily to-do list or a monthly planner or a bucket list, you have to find out your highest priorities.
You can follow Warren Buffett’s two-list strategy to find your priorities. Write down the 25 most important things you want to do in your life, then circle the first 5 and keep them as your first list. The remaining items will be the second list. You should concentrate on the first list and shift your priority away from the things in your life that aren’t as important as these goals.
You should add your professional goals, personal commitments, hobbies, and health-related activities.
Without setting priorities you may lose your vision and go in a wrong direction or waste your time and energy on things that will not contribute to living a happier, more successful life.
Say no to bad habits
Some habits may hinder your growth, find them and get rid of them. Smoking, procrastination, and lack of physical activity are some of the most common bad habits among us. Bad habits could affect your physical and emotional health as well as your overall performance. It takes 21 days to break a bad habit. So try avoiding bad habits by replacing them with new, good habits.
Forming new habits
As you may know already, our thoughts reflect in our actions and our actions become our habit, and habits turn out to be our character. So, as the saying goes, “When you change your thoughts you can change yourself.”
You can join groups with like-minded individuals or find a mentor, and get rid of your bad habits with their help. For example, you may hit the gym more regularly if you go with a companion. Sometimes we need an external force or a person to remind us of our goals.
2. Future Planning
Once you’ve set your priorities for the immediate future, the next step is to plan for your extended future. It can be easy to get caught up in the present and the daily stresses of life in general, but it is extremely important to plan for the future to come.
Currently, I take 3 different approaches to “planning” for my future and they basically boil down to making an investment. The investments are in order by priority…
- Investment in Myself
- This is THE MOST important investment you could possibly make. Continual education and personal growth is the one key to EVERY big entrepreneur’s success.
- Low-risk savings
- Low-risk savings are things like your personal savings account. I withdraw $21 ($3 per day, for 7 days) per week into a savings account that I NEVER touch. At the current investment rate, with an average of .01% interest, by the time I reach about 50 years old I’ll have saved over $1.5 million dollars.
- This holds the same principle as the micro-transaction economy. Set up the withdrawal to happen daily/weekly (automatically) and you never even notice the money being taken.
- High-risk Investments
- As an entrepreneur, I have a natural tendency to like to take risks. I like Texas Holdem, Blackjack, Roulette, and even the occasional scratch-off ticket. For my “high-risk” investment, I’m investing my budget into cryptocurrencies.
- I started on October 9th, 2017 and by the end of the year, I had around $5,500 PROFIT sitting in my investment portfolio.
“Risk comes from not knowing what you are doing.” – Warren Buffet
3. Get Focused
If you want to accomplish more than your competitors, then you have to be focused. As an entrepreneur, you’ll face hurdles every day. Those who maintain the ability to stay focused usually tend to accomplish the most.
Honing your skills and expanding your knowledge is very important in this fast-paced world. You don’t have to go to universities to acquire new skills. You can easily learn from audio books, podcasts, online courses, or YouTube videos in your free time. One of the best pieces of advice I’ve been given by one of my mentors was, “Jordan, it’s not about what you do at your 9 to 5, but what you’re willing to do with the next 2-3 hours after work to push even further forward.”
Basically, what he was telling me was that the AVERAGE person goes to work, comes home, and turns on the television. Above average people (the successful ones) come home and work on another activity or hobby that benefits the quality of their life.
If you follow these tips, I’m sure that you’ll be able to perform your best in all your efforts and see the glimpse of success that I saw for yourself in 2018!