Over the past 5 years I’ve had the priviledge of speaking with some of the most successful entrepreneurs and investors from around the world. In this short article I would like to share with you the 4 Top lessons and Distinctions I’ve learned from them.

Lesson #1 Don’t sit and wait around for the perfect moment

In one interview one of the millionaires said he did exactly this for 9 months on a project he KNEW he would make alot of money. It cost him $200,000 in lost income because he procrastinated. Don’t get me wrong, he wasn’t just sitting at home putting his feet up, though, being extremely busy. Here’s the thing: EVERYONE is ‘busy’! The difference between Millonaires and ‘everyone’ else?

Most people are ‘busy’ doing minor things. They spend time on low $ value activities. They spend their spare time watching tv and sit on the sofa. Sure, it’s still keeping ‘busy’, but what difference would it make if they majored in MAJOR things, like spending an hour a day dedicated to improving their wealth?

What other projects are you sitting on, that you feel should really be up an running making you money? How long have you been sitting on them? How much are you losing? What ‘excuses’ are you telling yourself as to why this isn’t happening? What are you going to DO about it?

Lesson #2 Powerful rewards and Big Punishments relating to an outcome for maximum results

Another Millionaire I interviewed uses this exact strategy with many of his high net worth clients. Rewarding someone for an outcome is not new. For a few people, this movement ‘toward pleasure’ is enough to get them fired up. They see the end result, and it might be something intangible like recognition from peers or feeling a sense of achievement. A larger percentage though are motivated by tangible things, such as cars, houses, boats, money. Got a big goal you’re firing towards? Set a big reward if you achieve it as part of your celebration!

Another, and MUCH more powerful driving force for people is the drive to move away from pain. Away from losing something valuable, away from disappointing others, even ones-self! People will go to much larger lengths to avoid pain than they ever will to gain pleasure. Studies have proven this time and time again. You may notice these very patterns appearing in your life (think of some examples where you’ve avoided pain and compare them to situations where you’ve been driven by pleasure).

How can you apply this? Commit publicly about something you value that you will give up or give away if you fail. For example, your CAR! I think you can guess the result of using these two powerful strategies.

Determine whether you are primarily motivated by pain or pleasure, but it is a lethal combination when you use both. Think of something important you’ve been putting off. Then make COMMITMENT to somebody else (not yourself) as to when you will achieve it, and what you are willing to put on the line if you don’t. I think you’ll like the results very much.

Lesson #3 Activity expands to fill the time

When there is no urgent deadline, things just ‘cruise’ at an easy pace, and fill up the time. But put a time frame and make yourself accountable, and things start to REALLY happen.

This is true both on a long term (months/years) and short term (hours/days) scale.

Have you ever spent 1.5 hours in the gym and just dawdled around from machine to machine? You know you’re there for a extended period so you take your time, and save yourself between exercises. Now lets assume you only had 20 minutes to go to the gym. Now you’re on purpose, moving quickly between exercises and increasing your intensity ten fold because you’re only there for a short period of time.

This applies in work situations aswell. Use it to your advantage.

Do you ever find things that should take you 30 minutes or less are taking you 1, 2 or maybe more hours? On a long term scale, do you find things that should take you 1 month max are taking you 6 + months, or heaven forbid, years? Why is that?

A great question I ask which has been very effective is this: What if your life (or the life of your child) depended on getting this task done in 30 minutes, what would you do? It’s a great question to cut through the fluff and get focused on the super important things.

Lesson #4   It’s not about the money

When you stop chasing money and start creating VALUE, things will always start to grow massively in your favour (another lesson taught to me through my interviews). Most of the successful experts have have always wanted to help people, but it was only when they focused on their ‘WHY’ did they find an authentic and long term way to monetise their idea profitably. For most, they just love playing the game now, and hanging out with other ‘eagles’. The money is nice, but its just a way to ‘keep score’!

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