7 Keys To Success
Okay, I’m borrowing that line from A Few Good Men – but there are so many applications. Some of you can’t handle making extraordinary money because you think too little of yourself. Some of you are waiting to start your dream because you don’t have a perfect plan. Some of you say you want more success but won’t invest $20 in a book or $97 in a course that could show you the way. Some of you are spending your time doing what most anyone else could do.
Episode #882 April 07, 2023
Hi this is Dan Miller – and yes you’re listening to the 48 Days Radio show – where each week we take 48 minutes to dive into real-life questions about finding your passion, deciding what kind of life you want to live – and then finding or creating work that allows you to show up every day, excited to be able to do something that is meaningful, fulfilling – and profitable. This is where normal, indecision and ambiguity come to die. Welcome to the 48 Days Radio Show. Thank you for being a listener of this podcast. I love hearing from you and being allowed to think through the questions we all have about finding or creating work that matters, for people who care.
Stages of Life
I’ve been working on my own view of The Stages of Life for a Long Time. I keep modifying it, but here is my take on The Stages of Life
20s – The Learning Decade, when you try lots of things to see which ones motivate and fit you
30s – The Experimenting Decade, when you get to sort out your interest and eliminate the ones that don’t fit who you are
40s – The Mastering Decade, when you focus on the things that you’ve decided to go with, develop your skills and become an expert in something
50s – The Reaping Decade, when you reap the rewards of the decisions you’ve made in the previous decades and you create systems to reach your highest earning potential
60s – The Guiding Decade, when you mentor others and leverage your major life message
70s- The Leaving a Legacy Decade, when you put things in place to live on when you’re no longer here on earth
80s – The Maximizing Decade, when you spend 75% of your time doing the one thing you do best
90s – The Savoring Decade, when you savor your well-lived life
Note: If you’re in one of the later decades and feel like you haven’t gone through The Learning, Experimenting or Mastering Decade, that’s okay. Everything I’m known for today happened since I turned 50.
It’s never too late for a new beginning.
There’s an old saying that if you plant corn, it will mature in 180 days. If you plant bamboo, it will mature in 5 years. If you plant walnut trees, they will mature in 40 years. My advice and one of the keys to succes is to be doing all three at every stage of your life.
A Venn Diagram is the idea of having multiple streams of income. That is possible for anyone.
For instance, having a book is just one tiny part of creating a business. You can also look at speaking around your message, developing products, live events, coaching, affiliate commissions, membership site, create a mastermind group.
It doesn’t matter if you’re an artist or a window washer, or have a regular W-2 job, you can create your own Venn Diagram.
Here’s an example of my Venn Diagram.
One of the Keys To Success: Working In Your Zone of Genius
In this exercise, you categorize the things you do into 4 areas:
- Incompetent – Things you can do but you’re not very good at it and don’t really enjoy it.
- Competent – Things you do that you do pretty well but aren’t really very passionate about it.
- Excellence – Things you do very well, but you know you can be replaced pretty easily. This is where most people get stuck.
- Genius – That unique individualized blend of your unique talent and passion, where only you can do this. It provides the most leverage to create your biggest impact in the world and likely will reward you the most financially.
When I went through this exercise, I was spending about 25% of my time in my Zone of Genius, and I set a goal to move to spend 75% of my time doing activities in my Zone of Genius.
To do this, you first need to get the activities in your Zone of Incompetence off your plate. Eliminate them.
Then take your Competent Activities and delegate them to someone else who is more skilled in that area than you are.
For your Excellent Activities, create systems for them. Create a course or a system.
Then work on how you can expand the amount of time you spend on activities in your Zone of Genius.
As you move up that ladder to your Zone of Genius, your chances of failure actually increase because you’ll be doing things you’ve never done before — possibly even that no one has ever done before. And that comes with a certain amount of risk.
A lot of people want to avoid risk. If you want to avoid failure and risk, then stay in your area of competence.
Would you rather do something guaranteed every day and make $50,000 a year or try new things and open the door to really big opportunities?
What if you tried 5 new things only to lose $20,000, but then you have one where you make $250,000?
One of the keys to success is to recognize that you have the option.
Upper lImit challenge
I was first exposed to that term in The Big Leap By Gay Hendricks. He says: “Each of us has an inner thermostat setting that determines how much love, success, and creativity we allow ourselves to enjoy. When we exceed our inner thermostat setting, we will often do something to sabotage ourselves, causing us to drop back into the old, familiar zone where we feel secure.”
We tend to bring things down to a level that matches our sense of deserving.
I talked to Alan Thomas a few days ago. He’s in our Eagles Elite Program. After losing 129 lbs, he now helps other people lose weight through his Rethink Dieting Program. He’s been having trouble with his knees, so he did a Zoom call with a doctor who asked him to walk across the room. He instantly knew that he has lost weight, and told him that he was walking like he was still overweight.
If you want to be a millionaire, you have to start thinking like millionaires think. Do what they do. If you don’t, you won’t be able to handle the money when it comes in.
Minimum Viable Product
This is my encouragement: Don’t wait until it’s perfect.
Check out our story of developing a Minimal Viable Product on our new website page here.
I got this term from The Lean Startup by Eric Ries.
Reed Hoffman, the founder of LinkedIn, says, “If you’re not embarrassed by the first version of your product, you’ve launched too late.”
A great example: Mark Alewine, a member of our Eagles Community, has just written a custom song for The 48 Days Eagles Community, which we love. They continue to improve and enhance it. Check it out here.
The Power of Investing In Yourself
When someone asked billionaire Warren Buffet what the best investment he ever made was, he said it was a course he took a $100 Dale Carnegie Course.
Investing in yourself allows you to develop yourself as a person so you’re actually able to give to others more through that investment than other things.
One of my life-changing investments was The Strangest Secret by Earl Nightingale. It was $15 when I was 13 years old. That’s equivalent to about $150 in today’s terms. That was an investment that gave me a big monetary return as well.
I recommend that you start by investing 3% of your income in yourself.
Once you begin making $50,000 a year, I recommend you begin investing 5% of your income.
The return that you get when investing in yourself will be astounding.
I believe this is foundational in the keys to success.
Find out more about the formula I use and ideas to invest in yourself.
Quotation:'The best investment you can make, is an investment in yourself.” Warren BuffettClick To Tweet
Join us at one of our 48 Days Innovate Experience Events
We’ll be talking about:
• Ways to Invest
• 3 Practices for Attracting People To You
• How To Share Your Idea As An Investment Opportunity at our event in Sarasota, FL in August 2023
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