10 ways to become successful in both career and life according to Tom Corley

What would it take you to become successful or accomplished?
What would it take you to be greater than who you are or who you think you can become?
Are there things you wanna do but can’t at the moment?
How can I do them?

I read Meiko Patton’s article on “Twenty-one Ways to Achieve Wealth and Success” this morning. It’s a powerful read. It is based on Tom Corley’s book “Rich Habits – The Daily Success Habits of Wealthy Individuals.” The followings are the gist of the takeaways for me.

1. Set good daily habits.

Good habits are the foundation of wealth building. If you understand that your bad habits may be preventing you from becoming wealthy, that realization will be the first step in your improving your circumstances.
Corley’s suggestion: Take out a sheet of paper. List your bad habits in one column and then invert each one to place under a new column for good habits.
For example, Bad habit: I watch too much TV. Good Habit: I limit myself to one hour of TV per day.

2. Create long-term goals.
Break down into manageable tasks with an action plan.

3. Get things done.

4. Engage in self-improvement daily.

5. Take care of personal health.

6. Make time for relationship building.
Reach out to your contacts and look for ways to help them with no expectation of in return.

7. Do things in moderation.

8. Keep a positive outlook.

9. Reject self-limiting thoughts.

10. Save money on a regular basis.

Citation: PATTON, MEIKO. “Twenty-one Ways to Achieve Wealth and Success.” The Globe and Mail. Entrepreneur.com. Entrepreneur Media Inc, 22 Oct. 2014. Web. 23 Oct. 2014.

7 Things the Canadian Major Banks’ Economists are saying about the Economic Outlooks

What does it take to make your own economy?

Here’s what the economists from Canada’s major banks — TD, CIBC, Royal Bank, Scotiabank and Bank of Montreal — are saying about the economic lookout during the 2014’s panel discussion hosted by the Toronto Region Board of Trade

“Compared to other developed economies, the U.S is actually a relatively low-cost place to make goods, partly because it doesn’t require as much labour as it used to thanks to cheap power and mechanization” — CIBC chief economist Avery Shenfeld.

1. The U.S. manufacturing sector has “got its mojo back!”

2. Millennials living in their parents’ basements are holding the homebuilding sector back. Why? A huge student debt and poor job prospects (which is the next point). Thus they cannot afford to start the new families at the age of 25 or 30 the way their parents did.

Student Loans in Canada | Photo Credit: Salon

Student Loans in Canada | Photo Credit: Employment and Social Development Canada (ESDC)

 

3. The Canadian job market has been disappointing. One of the most pronounced changes has been “the shift to part-time and temporary employment”.

“Companies are feeling a lot of heat these days and looking for more flexible arrangements” — TD economist Derek Burleton

Job Search Maze | Photo Credit: Heriot-Watt

 

4. Expect a “healthy pause” in the housing market.

“High consumer debt levels are still cause for concern, and will limit spending. In the housing market, debt burdens combined with poor affordability likely mean flat growth ahead” — Paul Ferley, assistant chief economist at RBC

5. Three per cent growth is the new four per cent growth. US’s total GDP growth is expected to be 3 per cent while Canada’s total GDP growth is expected to be closer to 2.5 per cent.

6. Canada’s export-led recovery is real! External trade has also benefited from a weakening Canadian dollar.

“The Canadian dollar will fall even further through to 85 cents U.S. next year.” — Paul Ferley, assistant chief economist at RBC

7. The economies of the BRIC (Brazil, Russia, India and China) countries have landed like a brick. Brazil and Russia are in recession: China is slowing down: India is movin a little bit. Pre-recession global growth was around five percent and today`s global growth is hovering close to three percent.

BRIC – Brick | Photo Credit: cfi.co

After learning these seven economic lookouts, the big questions for everyone including the millennials – perhaps the recent graduates with massive student loans and credit card debts – are:

• What does it mean to me?
• What should I be doing?
• How? Or what steps do I need to take so I can take care of myself…and my family? So I can live a life and be worry-free.

Photo Credit: dLife

Photo Credit: Tricommstrategies

Stay tuned. In a few days, I’ll be covering the answers to the questions asked above.

Thanks for reading this post. And please feel free to comment, like and share this post. I wish you’ll have a lovely day!

Citation: Freeman, Sunny, Mr. “8 Things You Need To Know From Canada’s Big Bank Economists.” The Huffington Post. N.p., 23 Sept. 2014. Web. 23 Sept. 2014.

What does success mean?

Success means differently to different people. Why? Because success is personal.

To Bill Gates, his success and legacy is Microsoft. As for Mark Zuckerburg, his success is Facebook while Jeff Bezos would say his is Amazon. Elon Musk goes it’s Tesla. Then Julia Hartz would insist hers is Eventbrite.  Sandra Lerner’s success is to cofound Cisco. Coco Chanel would say hers is Chanel.

Aside from having thrown all the brands as successes associated with the people, success needs not be just about building a big multinational business, nor should be just about making a lot of money. Why?
Again, because it’s personal. I particularly like how Maya Angelou has described what success is about.

Like yourself! | Photo Credit: Nischala

A local carpenter would be a successful person if he likes what he does with his career and life including how he works, earns an income, lives, spends time/money and enjoys life. Perhaps being known as a reliable carpenter in the community he lives in and making a decent amount of income (let’s say $40,000) would be quite a significant suceess for him.

While the local carpenter would be content with a local reputation and a $40,000 income and feeling quite successful in life, a lawyer who is already a partner in the prestigious law firm, earning $100,000 and aiming for an international recognition and an income that would land him in a top 10% of the world, then where he stands now may not be where he needs to be. Although he may feel partially successful for the journey he has come so far, he still needs to work towards his desired success.

My Point? Success is whatever you want it to be. Numbers may not as important as how you feel about yourself.

Photo credit: redconfetti

Another important misconception about success is that it would look like a straight line. A perfect straight line is a misconception because success is not a perfect straight line. It would look differently for different people. But in general, the success line can go up, down, north, south, east, west, straight, in cicle and waves. The line can go all over the place. Only when it reaches to its destined location, success happens.

So how do you get to your destiny or your success? According to Winston Churchill, you just need some courage. Enough courage to challenge yourself, go out of your comfort zone and grow will get you closer and closer to the success.

May you all be successful.

Photo Credit: best-lifequotes