Your power dwells deep within you. Far too many people create an idea, believe it’s going to work, and then they hit a roadblock. This could be something small and usually relatively insignificant, and then from there, they forget, they give up. If this is something you did in the past, don’t feel downcast; you’re among the majority. What matters is that you change the way you do things from this point onwards.You need to develop the mental tools and determination to avoid giving up when the going gets tough. It is all within your mind!

Want to achieve more? Change your mindset

The first step toward developing the right mindset is to achieve the desire, not just any old willingness, but a desire which is solid and unwavering, no matter what comes your way.So, how do you develop an unwavering desire? You control your thoughts. You tell yourself what you want; the more specific, the better, and you create a definite plan to get it. You write all of this down, and you read it aloud to yourself two times every day. Within a short amount of time, your desire will grow to levels that cannot be beaten down with small roadblocks.

Unwavering desire is a crucial step to success

Many people struggle with faith. This is probably because you can't actually see faith. it is a feeling and a sense of comfort. To have more faith, you need to use autosuggestion, and that involves talking to yourself firmly daily. You need to say to yourself you’re going to develop confidence and that you aren’t going to stop trying until you get what you want. you should visualize already achieving what you want; how does it feel? How does it look? All of this will help to influence your subconscious and therefore develop that invisible faith.

Faith cannot be seen but it is a powerful part of our lives

There are two types of knowledge, and both are powerful: one is general, and one is specialized. Specialized knowledge will help you take giant leaps forward in your particular niche. Knowledge itself doesn’t bring you riches; it simply influences your plan, and therefore your actions. Read into your particular industry or area of interest and learn more. Ask questions and seek answers. The more specialized you can be, the more you’ll succeed.

Make your knowledge specialized to be one step ahead of the game

If you want to achieve your dreams in adulthood, you need to continue imagining. Your imagination is where you come up with ideas and make your plans.There are two types of imagination: synthetic imagination allows you to reaffirm existing knowledge, and creative imagination allows you to dream up new ideas and plans. Synthetic imagination isn’t really about coming up with anything new; it is simply about rehashing the things you already know. On the other hand, creative imagination is potent, and it is where the brain communicates with something called infinite intelligence.

If you can imagine anything, you can achieve it

Infinite intelligence allows you to focus on your end plan, taking you where you want to go. Through this, you experience those hunches or flashes of ideas that don’t seem to have much sense or reason. If you put those ideas and hunches into a plan, this plan needs to be definite and organized. The more solid and organized you are, the more likely your goal is to succeed. However, you cannot do this alone, and you need to create a team of people with whom you can bounce ideas off, gain advice, and a new perspective. Napoleon Hill calls these your Mastermind Alliance.

you should expect to fail a few times because it is simply a part of life. but you merely rebuild it and try once more. Your Mastermind Alliance will help you with this. Of course, you need to be a leader amongst your alliance and develop the right leadership skills. These include:• Total courage• The ability to control yourself and your actions• A sense of justice• Keen decision–making skills• The ability to make definite plans• Always going above and beyond• A pleasant, easy–going, and understanding personality• Responsible, someone who will accept responsibility when required

Be a leader

The most successful people on the planet can make quick and firm decisions without allowing procrastination to affect their choices. Caring too much about what other people think or listening to opinions is simply going to slow you down. For this reason, be very selective with whom you let into your group; friends and family might mean well, but it rarely works.Persistence is developed via the following traits:• Having a purpose, a very definite one• Desire• Being self – reliant• Making very definite plans• Ensuring specialized knowledge• Strong willpower• Creating positive habits

Avoid procrastination

subconscious mind, in particular, is very vulnerable to the things you tell yourself and repeat, so it makes sense to use this to your advantage. To help protect yourself against fear and other negative factors, you need to develop willpower and always use it to build up a wall. This wall will keep out negativity and help you focus on your mind and a positive mindset.It’s also important to surround yourself with positive and helpful people, not those who are negative. A negative person can easily transmit their negativity and doubt onto you without even trying.

The power of the brain and the subconscious mind

Remember, changing your mindset doesn’t happen overnight. This is a process you must dedicate time and effort.<ul><li>By becoming a stronger, more decisive person, you’ll change your mindset about success.</li><li> Becoming a successful person isn’t down to luck. It’s down to hard work and perseverance. </li><li>Take control of your emotions, create a plan, and start to move towards your goals in life. </li><li>Focus on becoming a stronger, more single–minded person.</li><li> Identify the people you want by your side throughout your journey, i.e., your Mastermind Alliance</li><li>create a plan, and start to move towards your goals in life.</li></ul>

Tips To Memorize

Success comes to those who become success conscious. Failure comes to those who allow themselves to become failure conscious.

Think and Grow Rich has been called the "Granddaddy of All Motivational Literature." It was the first book to boldly ask, "What makes a winner?" The man who asked and listened for the answer, Napoleon Hill, is now counted in the top ranks of the world's winners himself. The most famous of all teachers of success spent "a fortune and the better part of a lifetime of effort" to produce the "Law of Success" philosophy that forms the basis of his books and that is so powerfully summarized in this one. In the original Think and Grow Rich, published in 1937, Hill draws on stories of Andrew Carnegie, Thomas Edison, Henry Ford, and other millionaires of his generation to illustrate his principles. In the updated version, Arthur R. Pell, Ph.D., a nationally known author, lecturer, and consultant in human resources management and an expert in applying Hill's thought, deftly interweaves anecdotes of how contemporary millionaires and billionaires, such as Bill Gates, Mary Kay Ash, Dave Thomas, and Sir John Templeton, achieved their wealth. Outmoded or arcane terminology and examples are faithfully refreshed to preclude any stumbling blocks to a new generation of readers.

personaldevelopment

Personal Development

business

Business

Ever wondered how life would be if we could condition our minds to Think and Grow Rich? Author Napoleon Hill claims to have based this book on twenty years of rigorous research on the lives of those who had amassed great wealth and made a fortune. Observing their habits, their ways of working and the principles they followed, Hill put together laws and philosophies that can be practiced in everyday life to achieve all-round success. The narrative is rich with stories and anecdotes, which not only inspire, but also show a way forward to take action. After all, riches are not just material, but also pertaining to the mind, body and spirit.  Having sold more than fifteen million copies across the world, this book remains the most read self-improvement book of all times!

Oliver Napoleon Hill was an American self-help author. He is best known for his book Think and Grow Rich, which is among the best-selling self-help books of all time. Hill's works insisted that fervid expectations are essential to improving one's life.

Napoleon Hill

Think and Grow Rich

Behavioral economics is the study of how the social, psychological, and emotional facets of human nature play into the field of economics and investing. It represents a combination of cognitive behavioral factors that should be considered when making important financial decisions – such as knowing which stocks to pick, when to sit tight, when to sell or trade, and how much to invest.Author Michael Bailey has identified steps in the stock-picking process so you can avoid the major pitfalls that have been known to sink even the most seasoned investors.

Behavioral Economics Helps In Making Better Investment Decisions

Investing is a process that involves the following: looking for new ideas, researching companies, mapping out your long-term expectations, deciding on the timing and size of your investment, making a purchase and analyzing the results, considering when or when not to sell, reevaluating your expectations, and focusing on learning and improvement.

Definition Of Investing

Being libertarian means being open to all ideas and free of opinions or biases that might blind you from the perfect investment opportunity. After looking at things with an open mind, you’ll need to narrow them down by exerting a certain amount of paternalism. The process here is about narrowing things down. Eliminating choices. Giving yourself fewer options.Bailey recommends seeking out stocks that have the potential to beat, or outperform, the market, Like a company that has changed management, made a sizable acquisition, created a new division, or perhaps launched a new product campaign.

The Libertarian and Paternal approaches.

In 2016, Bailey took an open-minded, libertarian approach to looking for new long-term investment ideas. This led him to explore options like cloud computing, cyber security, and self-driving cars. From there, he shifted to a paternalistic approach and took a close look at these three different ideas. Self-driving cars still seemed a little too high-risk at the time. As for cloud computing, he already had holdings in Microsoft and Google – so he felt he had this trend covered. He narrowed it down to cyber security, an area that would likely continue to have long-term relevance in the market.

Example 

Researching your options and getting to know the details of the businesses you're considering is a crucial part of the stock-picking process. Make sure you don’t end up being blinded by the inside view. It be can incredibly useful to talk to people who are part of the industry. But you don’t want to get so far inside that you lose sight of your impartiality. So remember to always take a step back and consider the outside view before drawing any conclusions. Don’t hesitate to get out of your comfort zone and dig deep when researching your options.

Research Your Options

Safe bets are often bad investments. This ties into the availability bias. A safe bet is likely one that everyone knows about – and if everyone knows about it, that stock isn’t going to beat the market or do much for your portfolio. So a good tip here would be to give yourself a range of risk to choose from – or to find a way to mitigate the risk by broadening your framework. And that’s what risk bias is. once you’re aware of your risk aversion bias, you can take steps to neutralize it!

“Availability Bias” And “Risk Bias”

Crafting an investment thesis simply involves writing down your reason for picking the stock you decided upon. What made you choose this stock? What are your expectations? This is the time to exercise your rationality and lack of bias. Be clear and practical, and don’t let inside views or bold forecasts skew your judgment. A good investment thesis is priceless. It’ll not only help you figure out the right stock to pick, but will also help you make a number of other important decisions – like when to buy or sell.

“Investment Thesis”

Another useful tool that goes hand-in-hand with an investment thesis is an investment committee. This is generally an impartial group of professionals who can help debate the pros and cons of an opportunity and make sure that a thesis or plan is realistic. Of course, groups can also be susceptible to biases and behavioral pitfalls. So when it’s time to debate a decision, the smart move is to break the committee up into smaller groups. Also, it’s important to encourage everyone in the investment committee to be sharp, take notes, make observations, and speak up without fear.

“Investment Committee”

There are a number of reasons why a stock could hit a rough patch. One common and unfortunate cause is the media echo chamber. A small, insignificant problem may arise and get reported on – which then causes a significant sell-off. This sell-off can snowball into another news item, which in turn fans the flames of panic even further. If you can recognize this particular feedback loop when it occurs, you’ll gain some reassurance that the initial problem was, in fact, minor – and not cause for alarm.

Your Investment Got Off To a Bumpy Start

In 2007, just before the major global recession, Bailey bought stock in a medical device company called Covidien.Covidien entered some choppy waters early on as the recession hit, that didn’t necessarily change the thesis. Medical device technology was still on track to play a big role in the future, and Covidien remained in a perfect position to outperform the market. So despite some concerned voices around him, Bailey stayed with the company. And it did indeed outperform for a number of years – before eventually being bought by Medtronic in 2015.

Example

You gotta know when to hold ’em, and know when to fold ’em.”

Holding your stocks can be riddled with behavioral pitfalls and misleading noise is important. But there are also things to be aware of when it comes to knowing when to fold ’em. Avoid the whole “set it and forget it” mindset. You want to focus on a growth mindset, not a fixed mindset. This means recognizing that you can learn from both successes and mistakes and continue to improve every day. You want to set up regular intervals where you reevaluate your investment thesis to see if it needs updating or adjusting in order to reflect the outside view.

Don’t put all your eggs in one basket. Mix it up. Put together a portfolio that isn’t all low-risk or high-risk, that’s instead a healthy diversified combination. from time to time, we all make decisions based on negative feelings like regret. If only we’d done this or hadn’t done that, Figure out what happened and learn from the past rather than get hung up on what-ifs. Above all, keep an open mind, continue to learn along the way, and don’t let early missteps scare you off. It might not seem like it at first, but stick with it and you’ll see: investing can be fun!

Biases, fears, and influences both internal and external can cause investors to make bad decisions every step of the way. But here’s some more actionable advice:Ask yourself four questions when researching potential stock picks.“Who uses? Who chooses? Who pays? Who profits?” In other words, who’s using the product or the service ? Who’s choosing which products and the services are being offered? Who are the customers or clients paying for these things? And who’s profiting – where is that money going?

Final Thoughts

Each and every one of us holds the amazing power to modify our life at any time we decide to do so

Use the power of behavioral finance to make smarter, better-informed decisions through every step of the investing process In an economy where markets are more unpredictable than ever, emotions can derail the efforts of even the most experienced investors and wreak havoc on portfolio returns. Applying powerful behavioral finance concepts, Stop. Think. Invest. provides a framework for identifying personal biases and avoiding mistakes that can cost big profits. Based on the author’s extensive research and 100 key behavioral finance concepts, this guide provides a winning 12-step process you can use to successfully manage your trading and investing for long-term success, including: Begin the initial research into a new stock Create an investment thesis—why are you buying the stock? Trade timing and size—when are you buying and how much? Make the initial purchase Review the trade—round up or round down Test your original investment thesis Stop. Think. Invest. reveals critical information about behavioral finance flaws, such as anchoring, confirmation bias, recency bias, and loss aversion. Unlike other behavioral investing guides, Stop. Think. Invest. offers a fully organized and practical approach to applying behavioral finance to everyday investing.

books

Books

Use the power of behavioral finance to make smarter, better-informed decisions through every step of the investing process In an economy where markets are more unpredictable than ever, emotions can derail the efforts of even the most experienced investors and wreak havoc on portfolio returns. Applying powerful behavioral finance concepts, Stop. Think. Invest. provides a framework for identifying personal biases and avoiding mistakes that can cost big profits. Based on the author’s extensive research and 100 key behavioral finance concepts, this guide provides a winning 12-step process you can use to successfully manage your trading and investing for long-term success, including: <ul><li>Begin the initial research into a new stock</li> <li>Create an investment thesis—why are you buying the stock?</li> <li>Trade timing and size—when are you buying and how much?</li> <li>Make the initial purchase</li> <li>Review the trade—round up or round down</li> <li>Test your original investment thesis</li> </ul> Stop. Think. Invest. reveals critical information about behavioral finance flaws, such as anchoring, confirmation bias, recency bias, and loss aversion. Unlike other behavioral investing guides, Stop. Think. Invest. offers a fully organized and practical approach to applying behavioral finance to everyday investing.

Michael Bailey

Stop. Think. Invest.: A Behavioral Finance Framework for Optimizing Investment Portfolios

Your habits can either help you succeed or contribute to your failure.﻿

Habits Are The Things That Differentiate Us

Most people start out working under someone else, while very few venture into a vocation without really working under anybody. Whatever path you're on, the only thing certain to guarantee speedy progress is growth. When you're intentional about growth, you'd gather knowledge and experience quickly and these would propel you to great heights

Do your best while you can

For an employee, a growth mindset means taking the business as your own, doing your best and exceeding expectations. People tend to consider these things as foolish; they believe it makes you a “yes-man” for your boss. But what they fail to see is that imbibing a growth mindset isn't as much about what your employer or organization would gain from it as it is about you growing fast.Whether you're an employee or business owner, decide today to make growth a priority.

“Successful people, whether they're working for somebody else or working for themselves, do whatever they do to the best of their ability – as if the boss is watching them every minute of every day.”

Unfortunately, for far too many people, their motivation is their bills. A lot of us get all set for work early in the morning and return late, all just for the bills; there's nothing else driving us. No higher purpose, no vision, nothing. And that's why it's easy to get distracted in the day. It also explains why our lives seem to end after the day's work is over; why we keep negative friends; why we indulge in destructive habits and so on.

Vision brings meaning to your actions

Success is all about meeting set targets and that means if you have no target you're pursuing, then you can't succeed. It's just like getting into your car with no destination in mind. You'd waste gas without getting anywhere or accomplishing anything.

Without a vision for your life, the likelihood of living a waste

Pause for a moment to think about your life and the things you'd like to accomplish. Find a nice piece of paper, write an area of your life — say relationship or money — then below it, write down the things you want to see in that area. For example, if you write romantic relationships, under it, create a vision that appeals to you. Do you want a mutually satisfying relationship with your significant other? What kind of family would you like to raise? Write them all down .Do the same exercise for every other area of life. It may take hours or days to complete, but don't stop until you're done.

By the time you're done, you'll have been clear on what you want out of life. From now, you'll seize to live just for living sake, but every moment of the day, you'd know the reason for doing what you do. You'd become less distracted, more focused and less likely to make mistakes your future self would regret.

Pick a piece of paper to write down anything you want in life. Then below it, write down why you want it. For example, you may want financial freedom because you've been broke before and you don't want to return to that kind of life. Next, ask yourself the “why” behind the first why.Example: I want financial freedom because I don't want to go broke again. But why don't I want to be broke?Think about it and answer the question. Let's assume you don't want to be broke again because you were broke as a kid and it forced you to take on jobs you didn't like. Up next, ask the third why.

Understand the WHY behind your actions

Always repeat the want, followed by all the why's you've discovered before asking the next why. Do this until you've asked yourself seven times. Make sure it's seven! Not five, not eight, seven.As you approach and get to number seven, the reasons you begin to give will come right from your heart and that's your true WHY.

Note

There's a hero in you as much as there's a villain in there, but the one you concentrate most on is the one that wins.Focus on your strengths. All through life, well meaning people have taught us to work on our weaknesses but how far has that advice taken us? For most people, the advice to work on weaknesses has only resulted in frustration. The truth is, you'd never be good at everything.Focusing on your weaknesses and failing will feed the villain in you which in turn waters down your confidence. Don't let it happen.

Deal with the enemy within

How do you identify a limiting belief or negative story you've been clinging to? All it takes is a little soul searching. When you consider starting something new like a business or getting married, what's the first thing you say to yourself? What's that first thought that comes to mind? If it goes something like “marriage is hard, no point trying or I'm not smart enough to grow a business from scratch” then, bingo, you just found the belief holding you back. Follow the trail of that thought, keep searching your soul and you'd find the story that's been keeping you.

Create a positive story for yourself

Your habits can either make or mar you; they either push you forward or limit you, so choose them wisely.The things you do daily are what come together to create the future big thing you're seeking. If you're going to have a more impactful career in the future, it's not up to what you do tomorrow, it's what you do today and the day that follows that will eventually add up to create the future you desire.Create an empowering story for your life. Make sure it's about the goals you want to achieve and it highlights your strengths while saying nothing about your weaknesses.

Conclusion 

Quality summary of Millionaire Success Habits: The Gateway to Wealth & Prosperity by Dean Graziosi

problemsolving

Problem Solving

leadershipandmanagement

Leadership & Management

Millionaire Success Habits: The Gateway to Wealth & Prosperity by Dean Graziosi

“In simplified form, the principle holds that a minority of causes, inputs, or efforts are responsible for the majority of the results. In other words, only a few things are responsible for the vast results we see around us. Just as only a few people control the majority of the world's wealth, and only a few students come out top in their class. If you take time to observe, you'll see the Pareto principle at work all through life.”

what exactly is the 80/20 principle?

“For most people, certain lifestyles remain a dream that will never come true. The main reason for this is that the majority of such people have limiting beliefs that keep them stuck in lifestyles they don't like. They hate their work. They don't like their relationships. Their bank account is nothing to write home about, but they can't seem to do anything to change their situation.Another set of people similar to these are those that don't even know what they want out of life. These people just go through the motions, taking whatever life throws at them.

Yes, you can live the lifestyle you've always dreamed of

Don't feel bad, if you belong to any of these categories. But understand that you can have the life you desire for yourself.To live the life of your dreams, you need to know exactly what it looks like. Pick a pen and paper, or use a digital notepad to write down all the things you want out of your life. Make the list as exhaustive as possible. Next, who do you know that is living such a life? What did they do to get there, and what are they doing that you're not? Success always has a blueprint.

It's hard to speak on success and “having it all” without talking about careers. The reality is, most — if not all — of us will have to work. At least as adults. And it's not bad to work; what's bad is fitting square pegs in round holes. Many people are doing just that. You will find them in careers that don't suit their lives, and they won't leave.

If you don't like your job, you can still be in it if it's the only thing paying the bills, but don't forget to have an escape plan. As an example, let's say you'd like to be an author, rather than work in your current accounting job. It's not reasonable to quit immediately. You could continue working with the accounting firm while building your writing career on the side. If you do this consistently and long enough, it will get to the point where the income from your writing side gig will suffice to take care of you.When this happens, save some more from your accounting job then quit.”

As important as work and career are, it's still important that you live a balanced life. You should be happy on all fronts. If you're not, it shows that something is missing, and you may need to apply 80/20 thinking to bring balance to your life. If you're making progress at work but failing maritally, then you need to address that quickly. If it's your health that's suffering, pause and focus on it. The point is, don't live a lopsided life. Let each area of your life be healthy. That's how to truly be a happy person and if it's possible for others, it's possible for you, too.”

“The 80/20 principle advocates focusing on the top 20% that brings the most results, while neglecting — or paying less attention to — the bottom 80%. Doing this will not in any way cause the bottom 80% to be entirely neglected; the 80/20 principle is nature's way of balancing itself. What you neglect as the bottom 80% is the top 20% for other people. So, you neglecting it means allowing someone else to maximize their life and business.

For example, if you're a business owner and you focus on investing more in the few workers that bring in the majority of the profits, you might eventually lay off some workers who aren't productive in your company. This isn't wrong; in fact, it will profit both of you, because those laid-off workers might later realize that they aren't made for the role they took in your company. In turn, this may lead them to self-discovery. Of course, this isn't always the case, but many great men and women would never have been great if someone didn't push them out of where they weren’t meant to be.

Apply 80/20 to time management. Take a piece of paper and pen down how your most productive days went. Note the things you did differently that helped you tick off your to-do list. Did you begin work earlier? Did you rest well the day before? What did you do about social media distraction? Note all the things you did differently. Use the list as your unique productivity and time management template.

Try This

Quality summary of The 80/20 Principle: The Secret to Achieving More with Less by Richard Koch

Think and Grow Rich

Stop. Think. Invest.: A Behavioral Finance Framework for Optimizing Investment Portfolios

Millionaire Success Habits: The Gateway to Wealth & Prosperity by Dean Graziosi

The 80/20 Principle: The Secret to Achieving More with Less by Richard Koch

Hesham Seleem