This week we are taking an interlude.
Self-care.
What is it all about?
How do we do it well?
With silly season on the horizon AlphaMama.net is reaching out to you. Yes YOU! To share with us your tips and strategies on how to work your way through the overwhelm of life.
Hit us up with your best guidance. We are all ears.
This week we are discussing the tips and strategies held within this gold nugget of a resource –
Self-Discipline: Develop Daily Habits to Program Your Mind, Build Mental Toughness, Self-Confidence and Willpower
by
Ray Vaden
Ray Vaden is an elusive author. It was nigh on impossible to locate any details about him. If you have information on who Ray Vaden is, please get in touch!
Check it out on amazon at: https://www.amazon.com.au/Self-Discipline-Develop-Toughness-Self-Confidence-WillPower/dp/1087861764
Summary of key points in the book:
10 qualities that are shared by all high achievers
WHAT IS THE FORCE THAT MOTIVATES HIGH ACHIEVERS????
The ability to use their imagination….
STEPS
Seven keys to self-discipline
First step is to have a purpose. Create a purpose. Define a cause that you can wholeheartedly devote your time, resources and att4ention. This cause points you in a direction. It gives you a reason to get out of bed ihn the morning.
2nd step – find role models who have already achieved what you want to achieve. Study their life patterns, methods and techniques. They are normal people like you but with self-discipline. You will start feeling emotions
3rd step translate your desire into a sensory rich vision of success. Touch taste sight sound in front of you. You know you can do it.
4th step – they share an all-encompassing passion and emotion for their goal or desire.
5th step – planning. Through effective planning you can plan out the steps you need to take to turn your vision into a reality. You will figure out exactly what you need to do to accomplish your goal and how long it will take…
6th step is to acquire skills to make your plan a success. Each time you master a skill your confidence in your ability to achieve your goal increases.
7th step – persistence and perseverance. Persistence is staying with your vision no matter how long it takes and to persevere despite any setbacks.
HOW DO YOU FIND A PURPOSE???
4 Point Exercise:
POINT 1 Limitless wishing.
Close your eyes. Imagine you are on a beach walking along the sand.
A soft breeze is keeping you cool, and you are enjoying the waves splashing rhythmically along the shore.
As you stroll along the water’s edge, you see an object in the distance that is half buried in the sand. The waves splash over its surface leaving it exposed to your curious eyes. You hasten towards it to see what it is before it is engulfed by the following waves.
In a couple of minutes, you are standing over it, still not sure what it is. It’s metal, somewhat round like an old lamp. You dig your fingers into the wet sand and pull it out.
There is an inscription on the side of the object, but you cant read it clearly. You begin to rub some of the sand away to read the inscription and suddenly it starts releasing a cloud of what looks like steam or gas.
You drop it. Slowly before your eyes a genie takes form. When he speaks his voice is kind. He thanks you for releasing him from hundreds of years of captivity. He offers you a reward for helping him he offers you 5 wishes. You can wish for anything you want as long as it is specific and humanly possible to achieve.
Think long and hard about it – what are the things that would turn your life around and make you truly happy. What it is it you secretly wish for day in and day out. Write it down in present tense starting with “I want”:
Example:
1. I want health and fitness of professional elite athlete levels so that I feel amazing and self-disciplined and have the ability to achieve great physical feats and live a long healthy life.
2. I want amazing relationships that include a loving husband and a few beautiful children, loving family connections and amazing friendships to share my life with.
3. I want to independently earn enough money through my contribution to society that I never have to worry about money or finances ever again and I have enough resources to help others, give to others, and support others on their journey.
4. I want to be an extremely successful business woman that inspires all women everywhere to embrace their power, find their purpose, and follow their personal dreams and ambitions to achieve holistic success in their lves.
5. I want to be an innovation leader, I want to achieve greatness by completing transforming the political landscape to reflect humanism, love, humanity, empowerment, sustainability, wholeness, vulnerability as strength.
POINT 2 WISHFUL IMAGINING
Close your eyes again. Imagine that your first wish has come true. Imagine what your life looks like now. What kind of clothes you would wear, people you would hang out with, house you would live in, what are you eating for breakfast and dinner. Maybe you have a private swimming pool, new career or new friends.
Imagine you are having dinner and drinks with your best friend, and you are explaining how your new life feels. This is a friend you can trust completely so you can say anything. Imagine what you look like – are you younger, thinner, better dressed? Is your friend looking envious? Picture every single detail – including the season, the place, the restaurant, to the glasses on the table.
Repeat for every one of the 5 wishes you wrote down.
POINT 3 Creative Biography
When amazing people pass away they often leave a legacy … people write their biography or eulogy.
What do you value above all else?
What would you like to be remembered for?
Open a history book and turn to the first letter of your last name:
You find your entry. It is a brief summary of your life and your greatest achievements.
What does it say?
POINT 4 What do I deep in my heart really want to do? What is my purpose in life?
You will now write down your statement of purpose.
First write a statement of purpose for another. Imagine..
Eg.
George Washington: I would like to use all of my strength, intelligence, resources to secure liberty and freedom for all of my colonists.
Amelia Airheart: When I grow up I am going to have adventures and show the world that women can be as heroic as men.
ROLE MODELS
People tend to find their mentors in 2 ways.
Indirectly – through books, films, articles
Directly through spending time and observing the mentors behaviour.
Indirectly
Autobiographies, magazines, articles, biographies. Inspirational films and tv shows.
– Who did you admire most?
– what inspired a throb of recognition? A resonance:?
– a fictional character? Who do you greatly admire and wish you could be like??
Directly
The people who achieve in their lives. What do they do? Networking. How do they deal with the highs and lows of life?
Quality of contacts you find –
Models directly – apprenticeship.
Most high achievers – mentor who can pass on his or her skills…
Coaches.
They too could easily perform like the idol they had… discovering their idols were human and fallible – they began to realise they could also achieve great things
CREATING A VISION OF SUCCESS
Sensory Goals – “magnificent obsession, burning desire to complete your purpose”
Take your statement of purpose and transform it into a SENSORY GOAL STATEMENT:
There are 3 key elements:
Sense of concrete reality, result and specific time frame fuels your drive towards success.
STEP 1 WRITE YOUR SENSORY GOAL STATEMENT
“In May 2023 I will run a 47 km marathon in under 5 hours at Wilsons Prom and be classed as an elite Athlete”
“In February 2023 I will win at least one gold medal in my division at Masters for Surf Lifesaving Victoria with Point Leo Surf Club”
“By July 2023 Ellison-Whyte Law will have an annual turnover of $500,000 Australian Dollars and will have a profit of at least $250,000 Australian dollars”
“By December 2023 Ellison-Whyte Law will win a nationally recognised award for innovation in the legal industry and I will become an industry leader”
What is your criterion for success?
If its to run a business – it might be when you move into your own office or hire your first staff member.
Having a measurable goal will help you determine whether you are achieving.
STEP 2 Your next step is to create a VISION OF ACHIEVEMENT
The purpose of this exercise is to create concrete images of your desired achievement so that you can visualise yourself achieving the goal “if you can see it, you can believe it, you can achieve it.”
Creating a vision achievement scrapbook that is tailored to you can have a powerful effect on your motivation and drive.
Devote some time today or this evening to locating these pictures. Continue to be on the look out for more.
STEP 3 make a listing of all the advantages and rewards you will experience as a result of achieving your goal. Close your eyes for a few minutes and imagine you have already achieved your goal –
How is your life different because of it?
What recognition have you achieved?
Has it made a difference with your family and friends?
Has it made an impact on other areas of your life?
Are you getting up at the same time in the morning, driving the same car to work, are you going out more/less in the evenings?
Wearing different clothes?
Write down every single outcome you can think of from the achievement of your goal. Don’t just write down the general rewards get as specific as possible.
STEP 4 – Sensory Vision – snapshot.
Draw a picture of what you will feel like, what you will see, what you can hear, see, feel, taste, smell.
NEXT – Record your sensory vision snap shot in your own words.
Daily Routine – every morning you will focus on your vision board. The vision board, the recording of the sensory goal description. Listen to the recording daily.
Take a few moments each day to visualise your vision
Listen to your sensory rich achievement every night before bed.
At the end of each day – REFLECT on what happened during the day and how it was targeted towards achieving your goal.
Record your vision over again every 2 weeks so that it stays relevant to your effort as you evolve.
ACTION PLAN –
Planning is the logical mapping out of where you want to go and how you are going to get there. Planning is going to help you save time.
There are 5 vital steps of a self-disciplined achiever that never quits or loses sight of their goal.
If you follow these 5 steps diligently – your long road to success will turn into an exciting journey of knowledge, discovery, challenge and reward.
Set backs can bea real stitch however – there are 5 ways you can turn any set back into a positive as follows:
First, never try to ignore a problem or a handicap. Deal with your problems directly. Don’t avoid them or try to hide from them. When you have a problem, study it from all angles and try and determine the best way to proceed.
Second, don’t blame other people for your setbacks and don’t chalk it up to bad luck. You make your own luck in this life and you have to solve your own problems. Learn to tackle them head on, being as realistic as possible and as level headed as possible. Mentors can provide a great deal of help in a bad situation. Try acting as if you are your own mentor. What would he or she do in your situation or what has he/she already done to overcome an obstacle similar to yours.
Third, continually strive to strengthen your qualities of self-discipline. Set backs often occur because of weaknesses in certain areas. Try and turn those weaknesses into strengths. Be your own severest critic, but not your own worst enemy. Don’t tell yourself “I failed”, tell yourself “I slipped, but i am going to pick myself up and go on”.
Fourth, in almost every setback there is a seed of opportunity. A silver lining if you will. Find it and use it. You may find yourself taking a slightly different path to achieving your goal than you first imagined, but you will get there just the same. Take the new path and see where it leads you. Following this new path helps take the emotions sting out of set backs and is a healthier way to react to a bad situation than deciding to give up.
Fifth, remember no matter how insurmountable a problem may appear, there is always a solution. A problem is only really a problem if you think you can’t solve it. If you take the attitude that every problem has a solution and you approach your problem with an open and creative mind you will find the solution.
The authors for Desiging Your Life are Stanford University professors Bill Burnett & Dave Evans
Who are Bill and Dave? Check out their bios here: https://www.linkedin.com/pulse/designing-your-work-life-bill-burnett-dave-evans-its-way-jessi-hempel-1e/
Standford offers design thinking courses for your life, check them out here: https://www.youtube.com/watch?v=Oq6Knn-6SU4http://lifedesignlab.stanford.edu/
You can purchase the book here: https://designingyour.life/
Both authors have starred in TED Talks on the topic. Check out their videos below:
Bill Burnett https://www.ted.com/talks/bill_burnett_5_steps_to_designing_the_life_you_want?language=en
Dave Evans https://www.ted.com/talks/dave_evans_design_your_life
Get inspired!!!
This week we are talking about the essential elements of wild discipline.
What is self-discipline?
the ability to control one’s feelings and overcome one’s weaknesses. – google.
The up-shot is self-discipline is about having self-control. Easily said … but as many of us know…. not so easily achieved.
So – where do we start?
Well according to the Tarahumara based on Chris McDougall’s book “Born to Run” – this practice of self-discipline starts with something unassuming.
It starts with FUN. Having fun. Following the fun. Enjoying.
Check out Tara Woods TED Talk on Rewilding here: https://youtu.be/A-sZH-JFf0Y
by Morgan Housel
Find it on Amazon here: https://www.amazon.com/gp/product/0857197681/ref=as_li_qf_asin_il_tl?ie=UTF8&tag=collfund-20&creative=9325&linkCode=as2&creativeASIN=0857197681&linkId=d46064f5f74177dac8d665e90383b12e
Who is Morgan Housel?
Morgan Housel was a financial columnest for the Motley Fool and Wall Street Journal. He is also the author of The Psychology of Money which has sold over one million copies. He is now a partner of the Collaborative Fund which is an investment firm focused on supporting and investing in the shared future.The firm’s funds focus on investments around two macro themes: the growth of the creative class, and the concept of the collaborative economy.
Why the Psychology of Money?
Morgan notes in his book, the Psychology of Money, that there is a lot of literature around budgeting and how to do finances but a lot of literature does not account for or focus on the fact that humans are irrational balls of emotion that do not behave in consistent, reliable ways. Many of our choices are formed via emotion and the way we feel – and we can see this reflected in how we choose to invest.
He based his book on an article by the same name which you can find here: https://www.collaborativefund.com/blog/the-psychology-of-money/
In his book (and article) he goes through 20 points on the psychology of money, looking at the concept of risk versus luck and reflecting on people who have a lot of things versus people who have wealth and how the wealthiest people in the world have exercised consistent investing over time to reach their fortunes.
I loved his analysis of Warren Buffet noting that Buffet started investing at the age of 10 years old. By the time he was 30 years old he had reached his first million. He mentioned that he has averaged returns of 22% over time and it is really TIME that is the critical element in his success. When you compound 22% returns over time, you quickly find you are snowballing wealth. Most of his fortune has come over the age of 60 years.
In the same vein he refers to Jim Simon’s who has made over a billion dollars from investing between 1988 until 2018. He achieved this by using quantified trading strategies, for the Medallion Fund and managed to return on average 66.1% gross before fees from 1988 until 2018. Jim Simon’s has been a more successful investor than Warren Buffet, however he has not been doing it for as long so ultimately it is TIME that is the secret to enormous amounts of wealth.
So what are the secret strategies to being a successful investor according to Housel?
Here are some of my favourite tips from the book:
I think this book is a really great way to cut through some of the BS around investing and prime your mindset for what truly is grit and resilience necessary to become a successful investor.
Recognising that its not all roses and pretty pictures. That you may actually be investing for a really long time before you see results. That it takes perseverance, resilience, grit, determination. Starting from a place of being enough and not getting greedy for more than is necessary. Recognising that wealth and status aren’t the be all and end all – true wealth comes down to having your health, loving relationships, freedom, and what he stresses the most is TIME. Having freedom over how you spend your time is the ultimate wealth any human being can experience.
In order to succeed what you really need is consistency and self-discipline. We have recently visited with a friend in Darwin from the defence force and they shared a story about the army and how in the army they teach people a technique of survival which is about setting your parameters or the boundaries you require to survive and then sticking to those boundaries. All it takes is knowing what you want, setting the boundaries and then the self-discipline to stick to the strategy over time.
It’s great having you all on board! I look forward to catching up with you next week where we will be discussing creating a vision for your life!!
Author: Michael Hyatt
Who is Michael Hyatt?
Michael Hyatt is a leadership expert who has published a number of New York bestsellers. CEO of Michael Hyatt & Company, a leadership development firm helping successful, but overwhelmed leaders focus so they win at work and succeed at life.
Book: The Vision Driven Leader
Find it on Amazon HERE
{{{{PODCAST COMING SHORTLY!!!!}}}
Summary
Hyatt dispels the 10 essential questions that an aspiring leader needs to ask in order to develop an effective and compelling vision that will lead their life, business or organisation to succeed in whatever endeavour they choose as follows:
Question 1 Are you a leader or a manager?
Question 2 What difference does vision make?
Question 3 What do you want?
Question 4 Is it clear?
Question 5 Does it inspire?
Question 6 Is it practical?
Question 7 Can you sell it?
Question 8 How should you face resistance?
Question 9 Is it too late?
Question 10 Are you ready?
Highlights
In Part 1 (Questions 1 & 2) Hyatt makes a compelling argument for why vision drives everything and is the necessary element for success in just about any endeavour you can think of.
I have come across this before, noting that the vision is the what and when you know your what then you can be flexible on how you get there, but it’s important to know what you are trying to achieve from the outset so you can focus based on the direction you are pointing and the goals you are trying to achieve.
As Hyatt states, it is important that a vision is the next and not the now. It’s about where you are going, the unachieved, the unattained.
How do you cultivate a compelling and effective vision?
In Part 2 Hyatt provides practical tips and strategies for how to cultivate and develop a vision script by focusing on what you want and then testing it through a series of tests to ensure it is durable, sellable, indestructible.
He finishes with working through how to stay on track and keep the vision alive in Part 3 (Questions 8 to 10).
Check out our favourite tips and strategies from the book below:
All vision starts with desire.
What is the difference between mission and vision? They both inform strategy but in different ways.
The answer to these 4 questions defines your identity, your clientele and your answer to your customers challenges and the results you produce.
A mission describes what a business is.
A vision describes where it is going.
Mission is here, vision is still out there. Mission is now, vision is next.
Mission-Vision Differential
| Mission is about… | Vision is about…. |
| what | where |
| here | out there |
| now | next |
| brief | robust |
Mission should fit on a t-shirt.
Vision robust document that describes your future… 3-5 years. Step into the future and describe what you see in 4 key areas of your business:
What do you want for your future??
Every statement about the future tells us about how we are performing in the present and influences what we do next.
The Future of Your Team
It’s important to start your vision script with your team. The right team will enable you as the leader to focus on what you do best. They will execute strategy, take care of your customers and cultivate new ones. The right team will blow you away with their ideas, skill and know how.
What does the ideal team look like to you three years out? How does your organisation take care of them and cultivate a winning culture?
Convey enough detail so that other people can see what you see – so together you can build it.
When you imagine your team 3 years out, what do you see?
What do you provide in relation to benefits, lifestyle?
Ex. “our team mates live and breathe our ideology. Our team are free to execute their talents without management breathing down their neck. We encourage innovation and experimentation – if something doesn’t work we learn and move on.”
What do you want the future to look like for you and your team? Where do you want to take this thing? What did we really want?
Make a plan for the next 3-5 years in the following areas:
Vision script…every vision statement tells us about how we are performing in the present and influences what we do next.
The future of your TEAM
Your team makes everything else possible. The RIGHT team makes it possible for you the leader to focus on what you do best. They will execute strategy, take care of your customers, and cultivate new ones.
The right team will blow you away with their ideas, ambitions, skills and know how.
What does the ideal team look like to you three years out?
Convey enough detail so you can clearly explain it to others and they can see what you see so you can together build it. When you imagine your team 3 years out – what do you see? In terms of their TALENTS, EXPERIENCE, and Worklife balance. What do you offer in terms of benefits, incentives, opportunities for growth?
Eg. “Our teammates live and breathe our core values and ideology. They possess impeccable character, extraordinary talent and proven track records.
Our employees demonstrate reasonable autonomy in executing and planning their own work without the impediment of overbearing management, stifling bureaucracy or procedural red tape.
We encourage innovation and experimentation. If something doesn’t work we learn from it and move on.”
The future of your products
What are the products or the services you offer?
Eg. “We create products that enable leaders to get the focus they need to win at work and succeed at life”
“We create products that delight our customers, exceed their expectations and deliver dramatic transformation”
Vision is about next not now… the future vision creates a measuring stick for the present but also superior to the present.
You’re not there yet.
“Our ultimate product is not our information or tools but the transformation our customers experience when using them”….
“We routinely say no to distractions masquerading as opportunities”
“We employ stable and talented speakers, coaches and podcasters”
The future of your sales and marketing
Think broadly and philosophically about your marketing… this is fundamentally about how you relate to your customers.
“We employ customer acquisition strategies that make our offers irresistible”
“We understand that our customers and clients are the REAL HEROES and we serve as a guide that helps them overcome their obstacles and achieve their desired transformation”
WHAT IS YOUR IMPACT – the future of your impact
Finally – your vision script should describe the intended outcome of your service/product. What is the result of realising your vision?
Financial impact or reach, influence or something less tangible
“As a result we are transforming our world and achieving outstanding results”
Key financial metrics “we have achieved these outstanding results without compromising our team, values or our culture”.
…..
What if my business is driven by something outside of these key areas? Add what is essential to your business.
How to write your own…
Dedicate time and focus – WHAT DO YOU WANT? Time and focus. Stick with it until you are on point.
“Homo-prospectus” we thrive from considering our prospects…
THREE TIPS FOR CREATING A VISION SCRIPT
You’re trying to paint an inspiring, clear, attractive picture of your organisation’s future – nothing else. It’s not about setting strategy…
Get alone with your own thoughts… Find solitary place away from the office. Unplug from the constant and get in touch with your thoughts.
We are conditioned to think about limits/constraints. It’s a self-fulfilling prophecy. We tend to experience what we expect. We create defences that block our progress.
Part of being clear about the future is being honest about the past and the present and how they are influencing our view of what is possible in the future.
Two feats at once. Total honesty about the here and now and commitment to the belief that it can be better. Far better.
SWOT
“Everything is broken”….
The future takes shape of choices today. Write in present tense as though your vision has already has happened.
Eg.
“Nelson books publishes 7 new york times best seller books each year. We sell 10 books that sell over 100,000 units per year. We have great relationships with the authors and the agents and we have a staff of extremely talented and extremely committed people”.
To get started ask yourself a number of probing questions as follows:
What needs to change in our business model so that my team doesn’t burn out or leave?
What kind of authors or list of titles do we need to attract to minimise the turn and maximise our profitability?
How would our organisation stack up against competitors in the market place?
What kind of organisations or processes could we invent that would help our business scale faster?
What interests, concerns or excites you. Do the oracles job for them… what will your business look like in 3 years? How can we become the business that might put us out of business in 3 years? Why would it have a competitive advantage?
Who do we want our customers to become?
Who are you spending time with, where are you travelling, what are you reading?
A vision should be something that personally motivates and interests you. Let your curiosity pull you along… that is what it is for.
The vision scripter. Visiondrivenleader.com
Don’t get hung up on “how” you will achieve your
Questions to ask yourself:
In 3-5 years
TEAM
What kind of teammates do you want to attract?
What characteristics do they all share in common?
How do they work? What is their work ethic?
What do you do to attract top talent?
What is your compensation philosophy?
What does your benefits package look like?
Why are prospective employees attracted to your company?
What makes people beg to join your company?
What does your office environment look like?
Why does that matter to you?
PRODUCTS
What results do your products create?
What value do they deliver?
Who do your products help?
How do your customers feel when they use your products?
What’s the user experience like?
What is the production creation process look like?
How do you choose what to offer?
What makes your products superior to those of your competitors?
SALES & MARKETING
What markets do you serve?
How large is your customer base?
How do you reach them? How much does it cost you to acquire new customers?
What is your cost per lead? What is the lifetime value of your customer?
How do you see your marketing, sales, and customer experience operate?
What’s their role in customer retention and acquisition?
IMPACT
What are your results? What is your revenue? Profit? Staff count or size of your
What financial thresholds excite you as the leader? What do you wish to make free/how do you want to spend your time as the leader? What do you see as your role? How will the growth of your organisation impact you and your team?
How will the industry competitors think of you?
The complexity of your business….may need you to look beyond 3-5 years.
Describe your vision in as much detail as possible.
Read your vision daily. When you are clear in what you want – you capitalise. You tend to filter out opportunities that deter you. Because of your focus and alignment you …
Vision is essential to leadership. He thought it would take 3 years to reach his vision and it was achieved in just 18 months…
QUALIFYING QUESTIONS
Make your vision concrete and compelling and others will join you to make it a reality.
Vision script is wet cement – lets refine it so it is clear:
Is it clear? – every vision script looks different depending on the leader that creates it. Write your vision script in whatever style:
Is it clear? Make it concrete. A good leader thinks in shades of grey and speaks in black and white.
QUESTION 4 – IS IT CLEAR?
Vision grid –
ABSTRACT & IMPLICIT
Quadrant 1 – abstract and implicit. Never completely externalised – foggy. Don’t know what direction.
Quadrant 2 – abstract & explicit – enthusiastic – but has clearly/tangibly expressed what saying
Quadrant 3 – Concrete and Implicit – still not solidly expressed to everyone else…
Quadrant 4 – Concrete & Explicit – a well written vision script can help with. The leader has a well developed concrete vision for the future and has clearly expressed this and articulated it to the team in precise unambiguous language – this allows the team to develop strategies, goals, tasks to execute vision. More than that they can get a sense of the passion and the purpose behind it all – clarity creates connection. There is nothing more satifying than proceeding with confidence. Knowing your team is aligned and passionate about the future because your vision is CLEAR. So – how do you gain clarity??
5 steps to gain clarity:
The road ahead….
Is your vision clear? In order to be a good leader it is important to have clarity of vision so your company can survive and thrive – a vision that not only expresses what you want but is also concrete & explicit.
With that level of clarity (clarity without inspiration leads to boredom and disinterest) and inspiration without clarity leads to excitement without direction.
Inspiration is what we will explore in next question:
QUESTION 5: DOES IT INSPIRE?
“Moved people move people”
It’s not enough to have a vision and its not enough that your vision is clear.
For a vision to be effective it must be powerful enough to shake off complacency and replace it with the motivation to take action. Unless your vision script ignites hearts, minds, passion, and creativity you won’t attract the talent or the buy in from your team necessary to reach your destination. Your customers won’t buy into it either and you will forego the impact and contribution that you might otherwise have on the world stage.
A vision that fails to inspire will surely expire.
Does your vision inspire? There are 4 characteristics to ensure it does:
If your vision for tomorrow is more or less than your vision today – it fails.
FOCUS POINTS:-
What isn’t, not what is.
What isn’t… eg. uber. Don’t look at what exists – focus on what you do differently. What is unique – what if we found a way to make the whole process easier… everything is obvious once you know the answer.
Step out into the future and envision what could be …. 70% market share. 72 Billion dollars value – UBER.
Make it BIG.
Exponential, not incremental.
Eg. iphone. Got rid of physical keys & replaced with virtual keys – creating more space for a bigger/better device.
The industry were very sceptical.
Risky, not stupid.
Physical paper planner… paper planner….
Are you likely to fail?
Does your team believe in it?
Does the plan impale your business?
What, not how.
Malala only needed us to yearn for justice, equality. Vision and strategy are important but vision.
By finding your what people find their why. Give yourself permission to imagine the ideal future without worrying about how you will get there.
Changing the script….
QUESTION 6: is it practical?
Hyatt suggests 10 annual goals, break this down into quarterly objectives and then weekly goals of no more than 3-5 … then daily tasks.
Vision is fixed, strategy is malleable.
Stay connected with the vision and allow strategy to evolve and flex. The vision is everything how you get there may change.
The vision strategy differential
The vision stays the same the strategy changes… no plan of operations survives beyond the first task.
The commander and chief will always focus on objectives and be ready to make changes.
Vision isn’t protect
The way to achieve our goals us holding tight to your vision and loosely to your strategy.
Meaning & purpose in the workforce.
Compelling vision script will compel people….
What kind if people do you need on your team??
The vision becomes the benchmark, keeping the vision script in the forefront of your mind…
-do they embrace your vision
-can they help you achieve your vision..
Diversity enhances a teams ability to solve problems…
The visibility problem
Research shows 4/10 staff members really knew what the vision of the organisation was…
All team members need to be on board, enrolling your team.
QUESTION 7: CAN YOU SELL IT?
Can you sell it to 4 key stakeholders… leadership, staff, external stakeholders…
Can you sell your vision script?
Others that need to be involved feel some ownership. You want input, validation, buy in.
Why us the new vision good for them? Why should we care?
HOW TO PRESENT YOUR ASK
To secure approval or buy in from those who count:
Next week we are looking at SELF-DISCIPLINE! Stay tuned…
AlphaMama.net is on the road! We will update our post with podcast shortly… Stay tuned.
How to Achieve Financial Independence and Retire Early by JD Roth
Website: https://www.getrichslowly.org/
Who is JD Roth?
https://www.getrichslowly.org/about/ regular guy who went to the school of hard knocks. Made a number of poor choices, found himself in a shitload of debt and then did the hard yards to get himself out of it.
EPISODE 1 What is financial independence?
Think of the matrix. “You’ve felt it your entire life, that there’s something wrong with the world. Like a splinter in your mind driving you mad. It is this feeling that has brought you to me…. The matrix. The matrix is everywhere.”
“Remember all I am offering you is the truth and nothing more”.
If you follow this course – you will come to see money differently.
We live in a culture built on debt.
Definitions
What does it mean to be retired?
Leaving one’s job and ceasing to work. “Retirement” relevantly recent concept only available in wealthy nations where citizens have relatively long life spans. Throughout history people have lived short lifetimes.
What is financial independence?
You’re earning enough money to support your spending habits for the rest of your life.
Spend less than you save. Some people in the FIRE movement – save half of their income.
The more you save, the quicker you achieve financial freedom.
Formula includes following elements:
Generally sustainable to take 4%
Multiply your current annual expenses by 25. If the product is less than your savings, you’ve reached FI – Financial Independence.
My expenses would be $50,000 per annum so product $1,250,000 to achieve financial independence.
Financial Independence is not one thing. It is a series of incremental thing. A series of financial milestones – each more exciting than the last.
Money Scripts
Our attitudes and beliefs are shaped by parents, community, and friends.
Our view of reality is like a map to navigate our way through life. If the map is true you will do well. If it is false, you will get lost along the way.
We aren’t born with these maps we pick them up along the way. No two maps are the same. No map is 100% accurate. Our mental maps require constant revision and updating.
Revising our mental maps requires effort. It’s not easy. Most of the time these maps are hidden. They are subconscious.
“Invisible scripts” from book “I will teach you to be rich” by Ramit Sethi
Examples:
‘Money is the root of all evil’
‘I can’t get ahead because the economy sucks’
‘I have to go to university in order to be successful’
‘I can always make more money’
Etc…
Most of our money scripts come from childhood.
WHY IS A MONEY SCRIPT IMPORTANT?
IF you don’t like your relationship with money, you need to re-write your script. You will have to do things differently to get new results. Rewrite your script and act on it to make change.
If you want to make changes you must take action.
EXERCISE 1
Take some time to think about your own money script and think about how it has affected your life.
What does it mean to be rich? What does wealth mean to you?
Freedom. Freedom to do whatever I like and not have to worry about making ends meet or finding money to pay bills.
Think about the first messages about money you ever received. What were those messages? How have they influenced you from childhood??
I recall my mum always saying “we could never own that” “we don’t have any money” and having a “poor person” mindset. She would say things like “it’s better not owning anything” and while there was no value put on anything, we struggled financially, didn’t save for the future, spent impulsively and frivolously, didn’t exercise self-control or self-discipline at all.
It impacted on me significantly as I tended to spend frivolously, not exercise self-discipline or self-control etc and I found the whole experience, conversation around it extremely humiliating.
Imagine you are in a romantic relationship with money. What does it look like? Are you in control or does money control you?
It is reckless in that I am not monitoring it and it has been totally derailed.
What is one step you can take today to improve your relationship with money?
Create a budget and focus on my FI number.
First Step to escaping your money myth is getting clear on purpose
EPISODE 2 – THE POWER OF PURPOSE
It’s important to have the right mindset.
Have a plan. Build a foundation.
What attitudes can you develop that are likely to help you at completing your journey to financial independence? How can you create a plan so amazing that you are willing to walk to work bleary eyed every morning in order to achieve it?
Each of us largely create our own reality and our own happiness by choosing what we focus on and how we react to it.
The shape and content of your life is largely a reflection of how you experience objective reality.
There are two ways that you can primarily change your life:
Sometimes the best way to improve things is to change the world around you.
There are times when the best way to improve your life is to change your environment.
Due to many of us are used to following rules and living up to certain standards – so have thus developed an external locus of control.
External vs Internal LOCUS of control
In psychology a LOCUS OF CONTROL refers to how people view the world around them and where they place responsibility for things that happen in their lives.
External
You believe that the world happens to you.You believe circumstances outside of yourself and largely outside of your control are the cause or fate of your happiness and life circumstances. In
Internal
You believe you are in control. You either change your environment or change the way you are reacting to the world around you.
You can change that person or you can change how you relate with that person. Here’s the reality – you can’t control other people.
People who try to change the world around them believe in the external.
People who change themselves to deal with the world. Internal locus of control – shift.
If you don’t like your circumstances it’s up to you to change them.
You have the power to determine your own destiny. FIRE Movement followers: Believe you – Forge your own path. Be proactive rather than reactive.
The pursuit of financial independence is by nature a proactive. Default actions lead to default results.
If you don’t act, you do not escape the matrix.
I want the freedom to do what I want when I want – common attitude of people searching for financial freedom/independence.
When you are running towards something you are being proactive.
HOW DO YOU IDENTIFY YOUR PURPOSE IN LIFE??
I had no greater goal so no wonder I got into debt.
George Kinder – certified financial planner
Discover goals and values of client – he considers himself a life planner, not a financial planner.
Asks his clients three questions:-
Life planning is all about asking that final question. What would you do/how would you feel about the last day of your life?
Most people miss people, experiences, events, achievements.
EXERCISE – Personal Mission Statement
Steps (each on a new page)
What does a personal mission statement sound like?
“I want to be the best person I can be both mentally and physically. I want to sample all the world has to offer by fostering new relationships, exploring new ideas and daring to try new things. I want to use my skills and experience to improve the lives of others while also improving my own.”
Set goals based on what goals align with your mission statement. Your mission statement shapes how you manage your money and your life. Yours should too.
This week we are talking self-discipline with the book Healthy as F*ck by Oonagh Duncan.
Who is Oonagh Duncan?
She is a multi-award-winning fitness expert and author.
Oonagh’s website: https://www.oonaghduncan.com/#about
TED Talk: https://www.youtube.com/watch?v=NgoJjIFULDE
Healthy as F*ck book: https://www.amazon.com/Healthy-Habits-Need-Lean-Stay/dp/1492693863
Oonagh’s 7 Habits of Healthy Motherf*ckers
What are the phases of changing a habit?
STAGE 1 Pre-contemplation – not thinking about changing habit
STAGE 2 – Contemplation – starts thinking about changing habits.
STAGE 3 – Preparation – started taking some steps towards making change such as research, investing in equipment, resources that will help achieve the change of habit.
STAGE 4 – Action. Starts doing, developing structures and habits that actively engage with the changing habits
STAGE 5 – Maintenance. Has been ‘doing’ the new habit consistently for a while. Self-sufficiency, solid habit loops, feels successful. The initial thrill has worn off, sometimes feels bored or complacent. Experiences compliance fatigue. If new habits are not reinforced, it can lead to the next stage.
STAGE 6 – Relapse.
—- How do we avoid relapse??
Every day of our lives is filled with ups and downs.No need to sweat the downs too much… pull back the camera and look at the bigger picture.
Ask yourself:
Is my progress generally trending up or down?
Who is Canna Campbell?
She is the founder and director of financial media platform, SugarMamma.TV and author of The $1000 Project & Mindful Money. A licensed Financial Planner for almost 19 years and founder of SASS Financial Services a financial planning firm.
Canna Campbell’s YouTube channel: https://www.youtube.com/c/SugarMamma
The $1000 Project book: https://www.amazon.com.au/1000-Project-Canna-Campbell/dp/0143788086
What is the $1000 Project??
Canna Campbell decided to start a project to save money so she could consistently earn passive income. She did this by saving parcels of $1000 at a time and then putting the cash into blue chip shares.
Canna Campbell’s Guidelines/Rules for the $1000 project
Guideline 1 – Be mindful with your money
Money earned over and above your usual salary. You make real savings count. This is what makes your money grow as soon as possible.
Acknowledge and show gratitude for these financial blessings. Every single dollar adds up.
No matter how small or big your financial windfall – make it count.
Guideline 2 – Work within your real life
Live your life as you previously did. Go through your budget and look at what you do and don’t really need.
You may find you value what you spend money on even more. Take more care for what you do have.
Throw out everything you don’t need in your life. It will liberate you.
Start from a place of self-love and nurturing you.
Guideline 3 – Consistency is King or Queen
As soon as you have a saving, no matter what you do to earn that saving, then place those funds into the savings account immediately.
By making this the goal you focus your attention on and open your awareness to opportunities to make money and save money.
If you check it daily and keep track of it you will become addicted.
You need to see regular and consistent wins on the board to keep you focused.
Give YOUR goals the best rules and timeframe you can. You have nothing to lose.
EARN IT
The $1000 project sets to show you that you are not a victim of circumstance – you can get up and make it happen. You’ll need to get out of your comfort zone.
It’s achievable. It’s worth it. Even if it’s not always easy.
Get creative.
First step to earning extra money – brainstorm as many ideas as you can to earn more money. The crazier the better. Some of your crazy ideas could be cash cows. Think of things you can realistically do today.
Second – make a list of things that will make you money that inspire you. If you can come up with money creating ideas that you value and love it won’t even matter. Look for things that can enrich your life.
Money creation ideas:
Money saving ideas
Every time you make savings you MUST transfer it into your dedicated account
If you honestly reflect on what makes you happy in life you realise it has to do with connection. Connecting with loved ones. Creating a space with the people you love. None of that
Knowing you put in effort rather than paying for effort is long-lasting.
Canna Campbell’s FRUGAL FEBRUARY – how much can you save in the next month??
What did she learn?
Canna Campbell’s youtube video: How to manifest money
She holds a spiritual belief around money and how it flows,
The key is to look at money like energy and be open to the flow of money
Foundations for your financial future
When you are building a house (a house that can survive all weather conditions over the course of time) you need strong solid foundations. That way whenever these disasters occur your house will remain standing.
Building financial foundations in your life is very similar.
What should the top priorities be when laying the foundations for your future financial stability?
How can you use the principles from the $1000 project to create long-term financial freedom??
Things you may like to add to your list of goals
Debt from worst to least worst
Priority 1 – credit card debt. The worst kind of debt you can have. Highest interest rate. Damaging to your credit rating. Hard to maintain or pay off. Credit card debt will negatively affect your credit rating. Pay this off as soon as possible. Not tax deductible, no capital growth or passive income gained.
It also has a positive impact on your attitudes. Often to pay off debt we have to overcome a number of emotions: shame, guilt, disgust. Carrying around these feelings isn’t good for you.
Priority 2 – personal loans/car loans. High-interest rates, harmful to financial attitude, negative impact on your credit rating. Usually used to purchase a depreciating asset. Save on interest and pay it off quickly using the $1000 Project. Eg. if you have a 5 year loan of $7000 and can come up with 3 parcels of $1000 in a year you could pay off your loan 1.5 years early saving yourself $4000 in interest!!!
Priority 3 – student loans and hecs debt. Many people are complacent about putting attention on their student loans. This is an indexed loan. Compulsory repayment rate is 4-8% of your income until it is paid off. Having large amounts of student debt can reduce the amount of money you are allowed to borrow.
Priority 4 – home loans. If you are paying principal and interest it is better, however the interest is still. Pay it off as quickly as possible. Having a 30 year loan and paying it off at a minimum is going to cost you a lot of money. You could save yourself $100,000s and pay off the loan 10 years in advance!
Priority 5 – emergency fund account. having an emergency fund account can save you from reaching for a credit card or personal loan. Having a nice amount in savings can help to reduce the stress in your life. In Canna’s opinion – whatever will work for you. Someone young with few responsibilities may like a small amount – a family may want 6 months worth of savings.
Priority 6 – wealth creation. The best place to start is to work out how much money you need to live the life you desire. First write down all of your living expenses. Keep a spending diary for a month or check your bank statements carefully. Check the TRUE cost of living. This can be enlightening and painfully grounding. Then dream of your IDEAL LIFE and allow that to guide what you keep in and what you let go of. Know your MAGIC NUMBER. As soon as you know it – start working towards it immediately. Start investing in passive income and watch it grow over time towards reaching your goals!!!
PASSIVE INCOME
Work because you choose to not because you have to! Imagine how great that would feel.
Building naturally growing passive income is a great financial goal to have.
Passive income allows freedom to work when and where you like. To give to charities. To go on holiday. Freedom to walk away when something is not working for you.
Canna’s passive income investment strategy is investing in shares – with a focus on Blue Chip shares.
What is a blue chip share?
Shareholdings in a huge company with an excellent reputation. These are typically large, well-established, and financially sound companies that have operated for many years and that have dependable earnings, often paying dividends to investors.
Understand the basics –
Check out the share trading course you can take for free through the ASX below:
https://www2.asx.com.au/investors/investment-tools-and-resources/online-courses
Canna suggests turning to ETF’s (exchange traded funds) or LIC’s (listed investment companies) if you do not feel confident with your knowledge of companies and the markets.
Another similar option is managed funds.
The key is be clear on the following:
What are your goals?
What is your timeframe for investment?
What is your risk appetite?
This will help direct where to invest to reach your financial goals.
When you start investing your risk appetite may be a lot lower than as you build your wealth you may have increased funds to allow for a higher risk appetite. As you grow and diversify your investments you reduce your financial risk and can weather losses in one or two investments better.
Never stop growing your financial knowledge and experience.
Rest Revive Reward.
If you set yourself a powerful enough goal you will develop your resilience and endurance.
It can be consuming. Ticking the parcel off the list.
This week we are talking about self-discipline as discussed in Extreme Ownership: How Navy SEALS lead and win by Jocko Willink & Leif Babin.
It’s no surprise that the key principle expressed by the book is…. Extreme Ownership.
What does that mean?
It means not making excuses ever. Never blaming others. Owning your failures wholeheartedly and when working in a team, encouraging and cultivating a team culture where each member takes complete ownership for the success of the team.
The book goes through a number of key principles of what extreme ownership looks like which we will discuss further below.
Finally – and this is my personal favourite – Jocko Willink reminds us that ultimately discipline = freedom.
Discipline is waking up early, doing the hard yards, consistently showing up but when we are disciplined we buy ourselves freedom in our lives.
Discipline is the pathway to your freedom. What a great motivator to stay on track.
