Exam 1 Flashcards
Why should I care about Henry Hill?
Henry Hill was an athlete who wanted to compete in an area that he could win. He wasn’t great at traditional sports like baseball, basketball or football. So Henry Hill directed all of his time, energy, and focus on archery. The importance of seeing the target and knowing what you have to do to achieve your goals set you miles above your counterparts. Know what you can do and do consistently.
He knew what he was good at and did it consistently.
Elaborate on Michael Hyatt’s 4 Zones
Zone 4- Drudgery Zone
Zone 3- Disinterest Zone
Zone 2- Distracted Zone
Zone 1- Desire Zone
What are the 7 points in Brian Tracy’s Book: The power of Focus
- Clarity
- Focus
- Purpose
- Concentration
- Excellence
- People
- Persistance
Seven Factors that make the Millionaire Next Door
- They live well below their means
- They allocate their time, energy, and money efficiently in ways conductive to building wealth.
- They believe that financial independence is more important than displaying high social status.
- Their parents did not provide economic outpatient care.
- Their adult children are economically self-sufficient.
- They are proficient in targeting market opportunities.
- They chose the right occupation.
How does being well organized, how does that make us better prepared emotionally and financially? Why make a list?
Having a set list of goals makes them obtainable. Not having a list of things that need to get make the person feel overwhelmed, hopeless and forgetful of the tasks that do need to get done. Same is true for financial goals, if we don’t know how much we are going to make, or how we are going to manage our money, we will never become wealthy.
Writing notes vs typing notes
- Writing notes create an opportunity for the writer to directly engage in the material being taught.
- Writing notes eliminates the distraction of technology that cause us to lose focus of the immediate task at hand.
- Those who strictly use laptops for studying purposes still struggled to comprehend the material compared to those who toke longhand notes.
- Typing is better for those who are using their laptop to do things like research. You can have the article pulled up and taking notes on it.
Brian Tracy: The Power of ______
- Clarity
- Focus
- Purpose
- Concentration
- Excellence
- People
- Persistance
What are the Richest Man in Babylon Rules?
- Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family.
- Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field.
- Gold clingeth to the protection of the cautious owner who invests it under the advice of wise men wise in its handling.
- Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those who are skilled in its keep.
- Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment.
What is Risk?
xxx
What is the difference between employment and self-employment?
Pro:
- Doing it your way
- Unlimited upside potential
- The MND’s solution
Cons:
- It’s up to you… no safety net
- Could lose your assets and go bankrupt
- Not for the faint of heart
What are 3 things that millionaires do and 3 things they don’t do?
What they do:
1. Believe that frugality discipline and thinking differently are still the hallmarks of building lasting wealth.
2. Critical to all goals is the allocation of time, energy, and money.
3. You make a decision each day to build or higher building wealth. They take immediate responsibility.
What they don’t do:
1. Play the comparison game
2. Play the name game… “poor me and my parents have never did these things for me”
3. Not all work and no play type folks
