7 SHOCKING HABITS Of Successful People

Successful people follow patterns. And if you're not successful, you're following the wrong pattern. Stay tuned to find out more.

You know, it's been almost 22 years since I started my first business, but not much has really changed as far as my DNA and my personality. What I mean by that is I was very, very fortunate to spend time with multimillionaires long before I even thought about making a dollar. And now that I have access to other mentors that are even further along than my first ones, what I wanted to do is I wanted to better understand how you define the patterns in which you dictate success. Now, with that in mind, what I wanted to do was I wanted to share with you seven specific patterns that these multi, multi millionaires use to actually balance their life, ignite their career, and to actually create unstoppable momentum in hopes that you could do the same. So let's jump in. Number one on the list, highly successful people have learned to say no more than they say yes. The reason is, is because they value their time, talent, resources and they want to make sure that their time, talent and resources are going to come back to them in some type of ROI or return on investment. They can't sit down with every single person that wants to pick their brain and for them to invest time, it pulls them away from something else that may be a higher priority. One of the things that I see as a pattern of people who aren't being, well, their best or most successful they could be is that they're trying to people please and try to make everybody else happy rather than actually focus on what's important for their life and their priority. I'm not talking about being selfish, I'm not talking about not giving back. I'm talking about day to day interactions of being distracted and taking your eye off the ball. Highly successful people keep their eye on the ball and they keep focused and they follow through with diligence. So you got to make sure that that is the primary thing that you're going to learn to do. If you're not already saying no more than you're saying yes, then you're going to have to look at that hardcore to make sure that you're moving in the right direction by looking at what's important and making a conscious decision and telling everybody else, hey, look, I got this priority over here and when I'm done we can maybe chat over here. It's super important. Number two, they look at failure as a growth pattern, not a mistake, not as catastrophic, not as an Identity problem. They look at failure as a method of learning. They look at ways when something goes wrong or something doesn't go to plan. They don't take it personally. They're like, it didn't go to plan. I need to reinvest, do that differently. I need to maybe invest over here. I need to learn over here. I need to have the mentorship over here. Highly successful people, when it comes down to it, they are focused on learning through their mistakes, which is why they've been unstoppable, because we are all going to make mistakes. But if failure becomes part of your identity, you are never going to actually get to the fullness of your possibilities. So you've got to be on point and not see every time that you make a mistake or every time something doesn't go to plan as being a catastrophic identity phase. Instead, look at it as a learning lesson and always ask, what can I learn from this? And if you'll do that, you'll continue to move towards successful behaviors and away from what's been holding you back all this time. So let's go on to the next one, right? People who are super successful spend more time investing than they do spending. Now, you may look and see that they got airplanes and they got cars, they got nice houses. And one of two things is either true. Either it's a small percentage of their actual income and they're paying cash, or they're heavily leveraging themselves in debt, putting on a front. Which one would you want to have? The reality is, most people who are struggling to become successful in any area of life or business or career are struggling to actually use their resources to actually build. Instead, they get it and spend it. Get it and spend it. Get it and spend it. If money's going through your hands like a waterfall, then you are never going to be able to build a solid foundation to build your skyscraper on. So let me ask you this. Do you want to build a small house or a skyscraper kind of life? Which one's more important for you? Which one's going to give you the greatest sense of freedom and balance? Which one's going to allow you to make decisions for yourself rather than going to a job that maybe you're not super crazy about, but you're doing just because you have bills to pay? Talk about a meaningless life.

I've been there myself. I know what it's like to think one way and have to change my thought process to think differently. What I'm saying is, every single thing in your life can be a means to an end. It's an opportunity to learn to save and invest rather than to spend. So what that means is you're going to have to become wiser with what you have. The old saying is those who are faithful with little will will be made masters over much. Are you worth being made master over much? If I gave you a dollar, could you turn it into 10? Or if I gave you 1,000, could you turn it into 100,000? That's the kind of mindset you have to look at your finances and your overall stewardship with to make sure you're making consistent progress. Which takes us to number four, ratios. People who are super successful use ratios. They avoid overspending because they only allot a certain amount of their income for them to spend and quote, unquote, put up for enjoyment. For example, when I first started, when I very first started, it took 100% of my income in order for me to get stable. Once I got stable and paid off my debt, I was able to use about 60% of my income to then create a foundation. Okay.

Now fast forward to where I am now. Now I'm getting pretty stinking close to where I can live off about 20% of my total income year after year. It doesn't happen overnight, but it will happen. And it starts with this process of spending and investing and where you put it at and being a good steward and then is dumped into the ratios and making sure that the ratios that you're using, right, the ratios that you're using allow you to build a prosperous future. Most people have something called a debt to income ratio. When you go to buy, get a mortgage or buy something, or buy a house, buy a car, so on and so forth. Your lenders are looking at your debt to income ratio. The national average of debt to income ratio that they consider stable or healthy is about 38%, almost 40% of your total income. That is not what I'm sharing.

I think your total portfolio of expense, I think you should consistently be working to get that closer to around 20% of your total income. Why? Because that allows you more dollars to dump into savings, more dollars to dump into investments, more dollars to dump into emergency fund, more dollars to dump it into investments and other like, business endeavors that are going to give you a larger return. That's what I'm talking about. That's the power of ratios. It's basically taking the compound interest that you would be charged with a credit card and actually making it work for you. So what would you rather do? Pay 8 to 19% to a credit card company or make 8% to 19% for yourself.

If you made 19% on $100, you're making roughly 120 bucks. If you make 19% on that again. Yeah, you got it. Compound interest, baby. It spikes, it grows. It creates a snowball of prosperity rather than a snowball of debt. All right, number five.

Highly successful people don't react. They respond.

At the time of this recording, the world's dealing with COVID Okay? People that have managed to push through Covid had enough wisdom and experience for the most part, to have a nest egg put away. So in the event of a traumatic experience or some kind of inevitable thing that's going to affect the economy, which always happens in cycles, okay? Right. Winter always comes, spring comes after summer, fall. It's cyclical.

That's why it's so important for you to understand the seasons of what's going on. The people that became super duper successful even though the economy was taking a dump were the same people who knew that the economy would one day be a struggle. So they use their ratios to. To insulate them from trauma. Here's what happens when an economy goes down. When an economy goes down and you've lived by ratios, you have cash. When everybody else is operating in fear, you're operating in wisdom. That cash allows you to buy things on sale.

Why? Because people who are fearful of losing everything always use it to liquidate as quickly as possible. That's why you see, stock markets go way up, and then something like a Covid happens and they shoot way down.

Everybody that's from here to here essentially did it in fear. I know that rhymes. That's interesting, right? But seriously, everyone at the top of the market, they saw Covid happen and they dumped their stocks. Next thing you know, their stocks lose money. Next thing you know, they don't have the capital to invest on something that's on sale, okay? Highly successful people are routinely using capital to buy things on sale, using capital to invest in things that will double or triple or even quadruple their return.

Using things to actually increase the overall equity. So I like the real estate, okay? I spend. I have. I have a real estate side of one of my businesses. I have commercial properties. I've got a couple residential properties. Each of those is in. Number one, it's diversified, so I've got eliminating my risk in certain areas because of diversification. And number two, each of them, I bought at the on sale phase, which means even if the. Even if the economy continues to decline, that property at some point in time will begin to raise rapidly in value. And should I choose to sell it, I'm going to sell it at the height of a market, not at the bottom of it. Okay. These are all basic principles that highly successful people use to become wealthy. Now, a lot of people get basically mad when people become wealthy because they have the resources to actually buy things on sale. So the person that sells it on sale, so to speak out of fear, that allows a person to buy it when they're not in fear or acting out of wisdom, gets offended because they had to sell. In reality, it's the decision making here that led to that outcome of having to sell off everything. Does that make sense? Everything starts in the head. Everything starts in how you look at things and the wisdom you use to do it, which is why you've got to pay close attention to what people use to actually become super successful and even wealthy at times. All right, next up.

Piggybacking on this, piggybacking on responding versus reacting is patience.

Super successful people, no matter what's going on in the world, have the resources, have the wherewithal, have the patience to sit still and watch.

What is the market going to do? Not what do I think it's going to do? Not what does CNN tell me it's going to do. Not what does Fox News tell me it's going to do. What is it going to do? I'm going to sit right here and I'm going to watch because I've already used my ratios to build my safety net. So even if I lose a little bit of money in the front while I'm being patient, it's not going into my reserves. Does that make sense? That allows me to properly organize and look at the market in such a way to say.

I like that type of business. That's a good business. Okay, this one's going to be restored. This one's not going to make it. They're too heavily, heavily leveraged in debt. This one's got some pretty good capital. They're being patient. They're being a good company. I wonder if they're looking for an investor. Hmm. What do I do there? Okay, the same thing with the real estate, the same thing with the banking industry. Each one of these different areas require a different level of skill set. Okay. Sometimes the smart thing to do is to be patient and get the knowledge essentially that you need right here. Actually get the knowledge you need to make a wise decision. But if you haven't done a good job with your ratios and you're reacting to things rather than responding to things, then it's going to make it very difficult to you to pause and be patient as markets are changing. Okay, now this is a big picture, right? Next up, number seven, focus.

Highly successful people avoid distractions at all cost. We talked a little bit about that with the saying no more than saying yes kind of thing.

Most people underestimate the power of focus for 12 months and they overestimate the power of dreaming for 10 years. When you set out to focus on your goals, your ambitions and your dreams, you are going to specifically look at different methodologies and strategies to help you increase over time. Not that long ago I was coaching a. Call me a young man, he's actually my age, I feel like I'm pretty young, right? I was coaching a man. He had, he had a family of three heavily levers in debt dudes making well over six figures and still can barely make his mortgage payment.

What did I teach him?

You got to start over here. You start, you have to start saying no to the things that you think you want and focus on the things that you need. Lights, shelter, food, clothing and turn the faucet off for everything else.

Where you think you made mistakes. And this is part become part of your identity because all of a sudden you put your family at jeopardy because you made bad financial decisions. It's not a failure, you're not a failure. You just made a bad financial decisions. And it's time to rebuild.

Every single dollar that you have. On top of getting out of debt. Providing for your basics, you learn to put into an investment strategy that allows you to dig out over time to increase the delta of your ratios to give you the ability to respond rather than react. To actually take the time to allow you to have patience, which allows you to actually create more focus, which allows you to create more wealth.

Make sense.

Successful people do things differently. Steve Myrick taught me that first lesson and I've had a variety of other multimillion dollar entrepreneurs share other experiences and other strategies with me ever since. And when I distill everything that they've taught me into one place, this is what you got. So in the meantime, check out this next video if you want to go to the next level and I'll see you in the next one. Take care of.