Brian Tracy presents four keys to entrepreneurial/business success: Clarify (develop absolute clarity about who you are, what you want, and goals), Simplify (eliminate or delegate low-value tasks and focus on the vital few), Maximize (identify and develop your special talents and strengths), and Multiply (leverage other people’s customers, knowledge, efforts, and money). He emphasizes the 80/20 rule, gives statistics about TV and social media usage to illustrate wasted time, and stresses that outside capital is widely available for credible business propositions.
Questions this video answers
95%
The 80/20 rule: 20% of activities account for 80% of results.
About 158 hours per month (previously ~150 hours).
About five and a half to six hours per day.
About five hours per day.
Chapters
So here's where we start with our entrepreneurs. We say there's four keys. One is to clarify. Clarity is 95% of your success. Be absolutely clear about who you are, what you want and your goals. Second is to simplify, strip out and get rid of all of the extraneous things in your life that are bogging you down. Number three is to maximize. And maximize is to take your special talents, abilities and opportunities and really develop them to a high level. And number four is to multiply. And that is to leverage your talents and abilities. So here's the definition. We say clarify is develop absolute clarity about who you are. One of the things we do is we help people take assessments to determine who they are, what they like to do, what they're supposed to be doing. And we find that if you're in the wrong career for you, you'll never have any excitement about it. You'll never have any desire to get better at it. But if you change and you start doing what is right for you, you suddenly come alive, you become excited about what you're doing. So who you are, what you want, and the best way to achieve it. Clarity, clarity, clarity. We'll talk about all of these things. Second is to simplify. Simplify means to delegate, outsource and eliminate all low value, no value tasks and activities in your life. In other words, look at the things you do in your life that contribute very little. And we'll talk about this later, very little to your success. But you keep doing them anyway. And you'll find that about 80% of your life is trivia. Remember the 8020 rule? 20% of what you do accounts for 80% of your results. Success rewards satisfaction, happiness, joy, everything is in the top 20%. Which means the bottom 80% could be cut out completely and it had no negative effect on your life. What do most people spend most of their time on? Bottom 80%. Do you know television watching since the last time we did this, this seminar just a few months ago. At that time it was 150 hours a month. For the average adult in America, it's up to 158 hours in less than a year. Average American is watching five and a half to six hours of over five hours of television per day. Average non adult is on social media five hours a day. Television watching, by the way, for young people is dropping dramatically now. Networks are going bonkers. But it's older people who are not high tech. They watch television five hours a day. Just imagine if you took two of those hours and you Read something worthwhile, you'd be rich in a few years. Television makes you poor. They did an interesting study. They took people socioeconomic categories, Wall Street Journal. They found as you went down the socioeconomic categories to the poorest of the poor, they had no books in their homes and the biggest televisions they could afford. As you went up to the top and they watched about seven hours of television a day. As the band began to go up in terms of income, television watching decreased, decreased until they got to the top 5 or 10%. These people very seldom watch television. They would pre record something and watch it at their leisure later on in the evenings or on the weekends. Very seldom watched television and their homes were full book. So if you wanted to get into the top 10%, what you do is you have to do things that the top 10% of people do. So number next is maximize. Determine your special talents, abilities and strengths and focus on developing them to a higher level. And you will learn how to do this in the time we spend together and then multiply is to leverage yourself and your business with other people's customers, other people's knowledge, other people's abilities, other people's efforts, other people's money and other people's resources. Now, you've heard the old saying, it takes money to make money. Yes, that's true. But it doesn't have to be your money. It can be somebody else's money. And all successful people have developed the ability to call on the money of others. Why? It's because they do good work and they do good planning and they take good care of their money. And people line up to give them money. There's now we have trillions of dollars of money waiting. I have a good friend, one of my business partners, multi, multi millionaire started with nothing. It's worth tens of millions of dollars. And he's sitting on a pool of money that he keeps at very low levels of interest. He said, I can't find a place to put it and I will not put it until I find a place. If somebody could come along with any kind of a business proposition where a person has credibility and has a track record and has a good business proposition, there's more money available than you can dream of. The money is there in torrents. It's like tsunamis of money that are available. So that's why when you read in the paper, you read that some such company just paid $1.8 billion or 2.6 or 9.9 or Google just offered Groupon $6 billion cash for their business. There's lots of money for good business ideas, but it doesn't have to be your money. It can be somebody else's money. And your ability to attract that money and to justify it is really important. So four ways to change your life and.
