Word Of the Week #582: Emulate

September 30, 2015 by · Comments Off on Word Of the Week #582: Emulate 

Emulate – to strive to equal or excel, especially through imitation.

Who is the person that you strive to equal? Is there a famous person you would most like to emulate? What steps have you taken to achieve that?

We follow up with Lou Carlozo’s article “THINGS WEALTHY PEOPLE DO EVERY DAY.” This week includes the last three things plus some interesting habit comparisons between the wealthy and the poor.

  • They network. Like poor Cubs fans, rich people tend to hang out with each other. They also dedicate time to widening their circles of acquaintance and influence, whether through business organizations, LinkedIn or groups that attract ambitious, entrepreneurial minds.
  • They keep learning. Audio books. Avid reading. TED Talks videos. Whatever the forum, wealthy folks are absorbing more knowledge. Corley’s research showed that 63% of wealthy listen to audio books during commute to work versus 5% of poor people.
  • They rise early. The early bird gets more than the worm, it seems. “Take 100 millionaires from across the world, and I’ll bet you not one of them sleeps in,” wrote Murray Newlands, a startup adviser, investor, and entrepreneur. “The majority of these individuals are up at 6 or 7 a.m. slaving away while the rest of us are still eating pancakes.”

Corley managed to segment out what he calls “rich habits” and “poverty habits,” meaning the tendencies of those who fit in each group. “But, everyone has some rich habits and some poverty habits. The key is to get more than 50% to be rich habits,” he says. Rich people always keep their goals in sight.

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I found these additional “habit” FUN-facts at Business Insider.

  • “I focus on my goals every day.”   Rich people who agree: 62%     Poor people who agree: 6%  Not only do wealthy people set annual and monthly goals, but 67% of them put those goals in writing. “It blew me away,” says Corley. “I thought a goal was a broad objective, but the wealthy said a wish is not a goal.” A goal is only a goal, he says, if it has two things: It’s achievable, and there’s a physical action you can take to pursue it. Rich people always keep their goals in sight.
  • They read … but not for fun. “The rich are voracious readers on how to improve themselves,” says Corley. In fact, 88% of them read for self-improvement for 30 minutes each day, compared to 2% of poor people.
  • They make a point of going above and beyond at the office and do more that the job requires.                Rich people who agree: 81%            Poor people who agree: 17%
  • They aren’t hoping to win the jackpot by playing the lottery.                                       Rich people who agree: 6%              Poor people who agree: 77%
  • They watch their waistline by counting calories every day.                                                     Rich people who agree: 57%            Poor people who agree: 5%
  • And they take care of their smiles by flossing every day.                                                Rich people who agree: 62%             Poor people who agree: 16%

This week focus on who you would most like to emulate. How much time do you spend networking? What educational books or videos have you devoted time to? Are you writing down goals that are achievable with an action plan? What percentage of “rich habits” do you already possess?

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Word Of the Week #581: Wealthy

September 23, 2015 by · Comments Off on Word Of the Week #581: Wealthy 

Wealthy – having an abundant supply of money or possessions of value.

Do you have all the money and possessions of value you want? Have you ever wondered how wealthy people achieve all they have? How much of your attention is focused on attaining the level of wealth you want?

I felt this San Diego UT article “THINGS WEALTHY PEOPLE DO EVERY DAY” by Lou Carlozo was a great follow up to last weeks’ WOW on Attention. This week features the first four things.

So, what do the well-to-do do daily? That is, besides ask the butler to clear the tablecloth with one of those chrome crumb-scraper things?

It’s true that money can’t buy many things – but some things can buy money, and wealthy people practice them daily.a wealthy

  • They have a to-do list. Tom Corley, the president of Cerefice & Company accounting firm in Rahway, N.J., conducted a self-styled, five-year study on wealthy people (defined as having an annual income of $160,000 or more and a liquid net worth of $3.2 million or more) and poor people (defined as having an annual income of $35,000 or less and a liquid net worth of $5,000 or less). His results appear in the book, “Rich Habits: The Daily Success Habits of Wealthy Individuals.” When Corley asked about to-do lists, 81% of rich people said they kept them, compared to 19% of those in poverty. Two-thirds of wealthy listers complete 70% or more of their daily tasks.
  • They keep their cool. To write his 1937 book “Think and Grow Rich,” author Napoleon Hill studied the habits of more than 500 wealthy people. He learned that those who overreact make a poor impression. As Hill wrote in another essay, “Remember that silence may be much more effective than your angry words.”
  • They don’t watch TV. The wealthy make productive use of time, as Corley relates on his “Rich Habits” website. Only 23% of the rich watch more than an hour of TV a day, compared with 77% of the poor.
  • They read Financial Times. Go ahead, make fun of those salmon-colored newsprint pages; the Financial Times crowd is laughing all the way to the bank. In February, Harvard’s Nieman Foundation ran an article on the Financial Times’ supposed struggles. Its website ranks only 44th in the U.S. business news category, the article stated, but it appears some folks are counting the wrong numbers. The piece also cites FT’s own stats, which estimate average subscriber income at $250,000 while 13% of readers are millionaires.”

This week’s focus is on how wealthy you want to be. How good are you at keeping your cool? How much time do you spend watching TV? Do you have a daily to-do list? What percentage of it gets accomplished?

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