"20 Success Secrets To Live By

For This Year And Beyond..."

Every year, I sit down and reflect on the previous year's successes, failures, and lessons I've learned from
each of them.
Putting myself through this "mental" exercise has always been immensely valuable to me in terms of profit,
personal growth and happiness.
I thought you might find it useful (and enjoyable) if I shared some of my thoughts and observations with you
to stimulate your planning and goal setting for the future:
1. Honesty Is Always The Best Policy -

There is no middle ground on this issue.

Your success in business and in life depends on your integrity. People trust (and like) people that are "straight
shooters."
And, don't get the impression I'm saying this is always easy. In fact, I've witnessed some very good people do
some very questionable things when the "chips were down" and they were desperate.
It's easy to be honest and maintain your integrity when everything's going well in your life. But, what
happens when you have no income, and you have to pay your mortgage? Or, when you make a mistake that
could cause you to have to refund a client's money or get screamed at?
That's when you have to dig down deep, and do the right thing.
Remember, it takes a lifetime to build a good reputation, and a moment of stupidity to ruin it!
2. Judge Business Partners By The Same Criteria You Used To Pick A Spouse -

Why do you think so many partnerships fail? Why do good friends or even family members end up hating each
other after going into business together?
Simple: they didn't look at their partnership like a marriage. In fact, a partnership is even more volatile
because it's basically a marriage without "sex."
That means it's even more important to do some "due diligence" upfront to make sure both of you are
compatible.

1. Are both of you in the same financial position? Or, does one of you need money
right away while the other is wealthy?
2. Do you both have the same exact strengths? Or, is one of you a "people person"
while the other one is a "behind the scenes" type?

3. Do you share the same vision for the business? Or, does one of you want to build
an empire while the other one just wants a steady paycheck?
4. Are you both flexible? Or, is one of you dogmatic, hard headed, and impossible
to work with?
These are just a few of the questions you must ask yourself and each other before you enter into any kind of
partnership.
If you're not honest with yourself and each other upfront, your partnership and business are doomed from
the start.
3. Always Have At Least Two Different Wealth Accumulation Plans -

Most people I meet have the "lottery mentality."

Their retirement plan is basically hoping to win the lottery, inherit money, marry wealthy, or make one deal
worth millions.
Unfortunately, that's why 96% of Americans rely on social security as their primary source of income. Only 4%
of our country ends up with enough of a "nest egg" to retire on.
What a sad statistic, and one that could easily be avoided if people had at least two wealth accumulation
plans: (1) A Conservative Plan, and (2) A Moderate To Risky Plan.
Everyone (and that includes you!) should be consistently funding some sort of "tax-deferred" retirement
plan, which is quietly compounding every single year. You should be deferring anywhere from 10% to 25% of
your income every single month into one of these plans. Treat it like a "bill", and pay that bill first before
you pay anything else.
Do this for 15 - 20 years with a decent money manager, and you will amass millions of dollars.
While you're passively funding this "conservative plan", you can actively pursue "deals" or building a saleable
business which you can (hopefully) sell one day for millions of dollars - - adding to your already substantial
net worth, and maybe even allowing you to retire 10 or 15 years earlier if you want.
Just don't make the "Riskier Wealth Accumulation Plan" be your only plan. This way, if things don't work out
exactly as planned, you'll still be a wealthy individual in retirement.
4. Start Businesses For Only Two Reasons -

There are only two reasons for starting a business: (1) Passive Income, or (2) Saleability.
If you go into a business for any other reason, you are basically creating a job for yourself.
You must always have some type of "exit strategy" in mind when you start a business.
If you don't currently have an "exit strategy" for your business...

Start Planning One!

Your goal should be to either sell your business or have it running independent of you in the next 5 years or
less.
By forcing yourself to think this way, you will begin to attract opportunities, which will allow you to "extract"
yourself from the business.
5. Handpick Your "A" Clients And Keep Them For Life -

A wise man once said to me, "I'd rather have 100 millionaires indebted to me than $100 million dollars in the
bank."
Over many years in business, you will build a client base. Some of these people will be great clients, some
will be awful, and some will be "O.K."
Your job is to recognize the "great" ones, build a relationship with them, and do everything you can to keep
them for life.
If you do this properly, you will never have to waste time prospecting for new clients again, your business
will be 10 times more profitable than it is right now, and it won't seem like "work" anymore - you'll actually
have a blast.
And, you don't need a lot of these clients; 25 to 50 will be more than enough because if you build the
relationships properly, they will refer their friends and family who are just like them.
Bottom line: All clients are NOT created equal. Find the "A" clients and do everything you can to build and
foster those relationships.
6. Become A "Niche" Marketer -

Many of you were already smart enough to realize there's a lot more money to be made by focusing on a
niche - as opposed to being an "insurance agent", "stockbroker", or "CPA."
Let me give you an example...
Every year, for the past 4 years, I've been going to a fee-based financial planning firm located in Texas. They
charge new clients a fee of $7,500 for a 1-day consultation and "financial plan" and then switch you over to a
"maintenance plan" at about $400 per month.
I am not their typical client. They focus on wealthy dentists, which is a relatively small, tightly defined
niche. They speak at industry seminars, and the rest of their business is generated by referrals.
Here's the amazing part. They have over 800 dentists paying them an average of $6,000 per year in fees, plus
every single one of them puts between $30,000 and $50,000 a year into a privately managed pension fund.
They have over $700 million dollars under management currently, and growing by about $32,000,000 a year!
That's the power of niche marketing.
7. Provide Value In Everything You Do -

I think it was Ray Kroc who said, "You can have whatever you want out of life IF you give enough other
people what they want out of life."
Most people approach business and personal relationships from the perspective of "What's in it for me",
instead of asking the question "What value can I provide to you?"

The Law of Reciprocity is very powerful. Basically, the more you give, the more you get in return.
Focus on being a giver not a taker, and you will be richly rewarded for your efforts.
8. Choose A Legacy You Want To Be Remembered By -

By choosing a legacy you want to be remembered by, you make life far less complex.
For example, I want to be remembered as an incredible father, husband, brother, son, and friend.
When I die, I hope there are hundreds (or even thousands) of people at my funeral who can honestly say I
had a positive impact on their life.
I'm not very concerned about being remembered for my business accomplishments or financial success.
This brings tremendous clarity to everything I do.
For example:

a. I only do business with people I like and respect.

b. I terminate annoying relationships even if they're profitable.
c. I only work on projects and businesses that I believe in and have a passion for. I
don't just do things for the "almighty dollar."
d. I always choose time with my family over business.
Be very clear on how you want to be remembered - it makes "life decisions" a lot easier.
9. Take Holidays, Vacations, And FREE Days Off Your Calendar First -

In our 2X+1 Financial Mastermind Coaching Program, "success coach", Jeff Smith, always reminds members
that the purpose of your business is to fund your lifestyle - it shouldn't be the other way around.
So, if you're planning out your year ahead, start by planning out your vacations and FREE time first and take
it off your calendar now.
That will force you to finish your work during the other available days, and will also create a "reward" to look
forward to.
I can't emphasize enough how important it is to take quality time off from work to rejuvenate.
Once I began doing this, my life changed in so many wonderful ways. First of all, I was a much happier
person. Second, I spent much more time with my family and friends, which made them and me happier.
Finally, I made more money than I ever made in my life working far fewer hours.
Try it - I promise, you will like it!
10. Forgive Others For Making Mistakes -

Human beings are not perfect. We all make mistakes from time to time. Some of us learn quickly from our
mistakes, others take a little more time.
If you like (or love) someone, and they make a mistake (even a really big one) - forgive them.
I have a standing rule with my family (which includes my wife's family) that I will forgive them for practically
anything. I don't get "petty" over personality differences with brothers-in-law, mothers-in-law, sisters-in-law,
etc. I understand we are all different people, and I look for the best in each of them even if I don't agree
with them.
I try to do the same thing with close friends.
Life is way too short. Plus, as we get older, there are fewer and fewer people we let into our lives. Don't get
rid of the good relationships you already have over petty disagreements.
Trust me - it's not worth it.
11. Fight And Defend What You Believe In -

This may sound contradictory to my last statement. I can assure you - it's not.
Let me start by saying, there are very few things in life that are worth fighting over. But, there are a couple
of "key" beliefs or "core" values I'm willing to fight to the end for:

a. My life if it's threatened.

b. My wife or son's life if they're threatened.
c. An attack on my character and integrity.
Notice what's not included on my list:

a. An "ego" argument with a drunk or a driver with road rage.

b. A petty disagreement with my wife, family, friends, staff, or clients.
c. A business deal gone bad.
You have to recognize what is really worth fighting for in life. In most cases, you're better served by saving
your breath (and legal fees) and moving on instead of doing battle.
Most people lose their perspective in these situations. But, always remember if you're fighting, you can't also
be productive, loving, etc.
It's very difficult to have simultaneous positive and negative emotions, so carefully pick your battles.
12. Stay In Good Physical Condition -

There is a direct correlation between your mental and physical state.

The healthier and more "fit" you feel, the more positive and happy you are.

Plus, we all know financially successful people who "let themselves go", and end up suffering from heart
attacks, strokes, etc. Remember, money is not a replacement for good health. Trust me, your millions won't
mean anything to you if you're terminally ill, or on your way to a premature death.
The body naturally ages and slows down as we get older. Don't help the process by not exercising regularly
and eating poorly.
13. Try To Be Someone Your Children (And Others) Can Admire -

Think about people you most admire. Why do you most admire them? Hopefully, it's for the "right" reasons.
Here's some traits I most admire:

1.
2.
3.
4.
5.
6.
7.
8.
9.

Honesty
Integrity
Doers
Optimists
Success Without Ego
Charitable
Leadership
Good Parents
Good Friends

10.
11.
12.
13.
14.
15.
16.
17.
18.

Good Spouses
Good Teachers
Great Athletes
Intelligence
Creativity
Fun-Loving
Hospitable
Flexible
Goal-Oriented

The list goes on and on. The interesting thing is - the traits I admire most make up the type of person I
aspire to be.
My belief is that if you focus on becoming this type of person, you will naturally be the type of person your
children and others will admire.
14. Don't Make Important Decisions Based On What Other People Will Think Of You -

Most people make all of their decisions this way. They are so preoccupied with what other people will think
of them, that they make decisions based on what will make others happy instead of themselves.
I've always prided myself on my independence and it has served me well in life.
Following the "herd" is the surest path to mediocrity in life.
Question "conventional wisdom." Question the opinions of your teachers, friends, family, consultants, the
media, etc.
One of my mentors once said to me, "For the most part, you will be much better off doing the exact
opposite of what everyone else does in life."
I have found this advice to be practical and true.
15. Be An Implementer -

There are lots of dreamers out there who are extremely creative and full of ideas. What they lack is followthrough.

It's the "implementers" of the world who become successful. They may not be that creative or even
interesting to talk to, but when they latch onto an idea they stick to it and follow it through to completion.
The moral of the story is: If you're a "creative type" full of ideas and you bore easily, find yourself an
implementer and make him or her your partner. Trust me - in the long run, you'll be much more successful.
16. Commit To Your Goals In Writing And Be Accountable -

Would you ever try baking a cake without a recipe? Well, maybe you would, but it's probably going to taste
awful.
The same thing goes for your life goals. You must have a clear, concise plan (recipe) for where you want to
end up.
How much money do you want to make? How much wealth do you want to accumulate? What type of house
do you want to live in? What type of friendships do you want to have? How many vacations do you want to
take? What skills do you want to master? How do you want to be remembered?
Spend some time, and really think about these questions. Then create a 10-year, 5-year, 3-year and 1-year
plan for achieving these goals and tracking your progress.
This will keep you accountable, and focus your actions on attaining your goals.
I assure you - written goal setting really works!
17. Always Go First Class -

In our younger days, my wife and I tried to "save" money in the wrong places.
We traveled coach. We stayed at economy hotels. We went to "decent" restaurants, and lived in an average
apartment in New York City.
Then, one day, we decided to see what it felt like to go "first class."
We booked first class airfare (using our American Express miles), we stayed at a 5-star resort, we ate 5-star
meals, and moved to a luxury building.
What we discovered was very interesting.
We found it to be "cheaper" to go first class.
Let me explain...
We stopped experiencing time delays, there were little or no service frustrations, and everything was
packaged into one price (so we weren't being nickeled and dimed).
But, most important of all, it encouraged me to become even more successful. I got "addicted" to nice
things, and wanted to make sure I could fund that type of lifestyle.
Please don't misunderstand what I'm saying. I don't want you to go into debt, but if you're planning on going
on vacation anyway, try upgrading to first class airfare, and spend the extra $100 - $200 a night and stay at
the best hotel.

In the end, it will cost you less in terms of your time and hassles, and you'll be far more productive when you
go back to work.
18. Don't Settle -

Remember when you were a kid, and the world was yours to conquer? All of us feel invincible in our youth.
Unfortunately, many people lose that passion and drive as they get older. We get married, have children, buy
a home and have a mortgage.
All of these life responsibilities make us more "risk-averse." Many people start settling for a mere fraction of
their childhood dreams.
They take jobs they don't like, hang out with friends they no longer share common interests with, and
basically lower their expectations.
Don't settle - push yourself outside of your comfort zone. That is the only way you will grow and prosper.
It's also the secret to staying young and vibrant.
19. Be Altruistic And Help People Who WANT To Be Helped -

Most (not all) of us enjoy giving as opposed to taking. It makes us feel good about ourselves.
The problem is many times we try to give to people who really don't want to be helped.
Let me offer you a few examples:

1. You give business advice to your brother-in-law who hates his job.
2. You give health and fitness advice to your overweight parents.
3. You give relationship advice to your friend who can't seem to meet the "right"
mate.
4. You give advice to a client on how to get out of debt and start saving.
Every one of these charitable deeds are done with the best of intentions. You really want to help those
people.
The problem is: They haven't decided to make a change in their life yet, and therein lies the problem.
A person must first recognize that they have a problem, and then commit to solving that problem no matter
what it takes.
I spent the majority of my adult life trying to help family, friends, and clients who really didn't want to be
helped. I found it very frustrating and exhausting since most (not all) of them didn't change no matter how
good my advice was.
Now, I wait for people to display their commitment to changing first, and then I offer advice. If I don't see
some type of effort or progress initiated on their part afterwards, I stop offering advice from that point
forward.

Bottom line: Help people who truly want to be helped. Period.

20. Make Sure You Run Your Business Using The E.L.F. Formula -

E.L.F. stands for "Easy", "Lucrative", and "Fun."

This is the simple, straightforward formula you should use when determining whether or not you want to
enter into any new business relationship or deal.
Like I mentioned earlier, there are lots of unfulfilling ways to make money. We all know people who are
wealthy and miserable - they hate their business, their clients, and their life.
Life's way too short to spend 8 - 10 hours a day hating what you do.
Only pick business relationships and deals that are relatively easy, very profitable, and fun to work on!