I thought this book was a quick and easy read with lots of motivating content. The action items included within make this an ideal first book in your journey to financial freedom. I used this to gain nuggets of wisdom from the author and sources, although I cannot follow all suggestions. The author encourages entrepreneurship, while the best route to fast income, it is not feasible for everyone. Unlike the author, I support a family of 6 on my sole salary. The book does not make mention of how many businesses fail within the first 5 years. Without a backup plan, many cannot jump into starting their own business. I would suggest to take what works for you and run with it!
What the author gets you to think about is how you can bring more value, thus increasing your worth. His 6 musts to 6 figures are:
- Absolute Clarity– get clear with what you want. Focus on just 1 or 2 skills at a time and break down into manageable goals.
- Increasing Your Confidence Account– as you check off your goals, your confidence should grow. The author further explains if you don’t have confidence, you will always find ways to lose.
- Shifting Your Circle Of Influence– it’s very important who you hang out with. I do not hang out with anyone that is considerably wealthier than I am, I need to find a different circle of friends. I remember when I tried out for the tennis team my senior year of highschool. I had only played a few months when I tried out. After trying out, I was ranked number 7 (only the top 4 got to travel.) How this relates is, I played up to the level of my opponent. The ranking was set by a match best of seven. I lost every match; however, I lost 4-3 to the second best player and 5-2 to the best. The second best player lost 6-1 to the best and no one else had won a game against him. Better players have always brought out more competition in me.
- Consistent Energy And Motivation – create habits and meeting goals should give you more motivation to continue to improve. With the New Year, you may be brimming with resolutions and work fervently for a while. The key is to continue with consistent action and not get burnt out.
- Creating Intentional Result Rituals – analyze what is getting you results and continue those activities. Remember the 80/20 principle that states you get 80% of results from 20% of actions. The principle translates to almost everything.
- Continually Focusing On Growth And Learning– learning does not stop when you finish school. Never stop or you will become complacent. What you put in your mind needs to be consistent with your goals in order to meet your desire.
I picked up a few great quotes from this book. Even if you do not buy the book, refer back to these on occasion:
“Learn to work harder on yourself than you do on your job. If you work hard on your job you can make a living, but if you work hard on yourself you’ll make a fortune.” – Jim Rohn
“Strive to become a better person, and, instead of comparing yourself to others, differentiate. The goal is to be slightly better than who you were the day before. The only person you should try to be better than is the person you were yesterday.” – Peter Voogd
“Until you value yourself,you won’t value your time. Until you value your time, you won’t do anything with it.” – Scott Peck
Part of what makes this such a good starter book is that there are several points in which you have to stop reading, think about and write down specific goals, actions, or thoughts. To get the most from this book, do not skip over those parts and complete these action items. One of the better exercises is to create your top 5 goals over the next six months, further break down the steps you will take the next three months toward your goals, and ten reasons you have picked your goals. I think the reasons are important, because a goal without reason is probably not well thought out and your heart is not really in it.
If you love your job and want to spend this next 30 years saving 10% into a 401(k)plan, this is probably not the book for you. This book is for those that hate their jobs and want to pave their own way. I would definitely recommend to anyone that is not completely happy with their current work or financial situation.
Please comment what you learned from this book to keep the discussion going.