Tag Archive | "Commitment"

6 Skills of Self-Made Millionaires That You Should Be Using, Too

Heed the advice of those who have reaped success. Here are six skills used by self-made millionaires that you should be using and building upon each day, reports Entrepreneur

1. Be able to identify fruitful opportunities.

Carlos Slim Helu, Mexican business magnate and philanthropist, said, “When there is a crisis, that’s when some are interested in getting out, and that’s when we are interested in getting in.”

Learn to identify open doors when they appear, then consider the risks and weigh them against potential benefits. An opportunity can be a great one regardless of whether no one or everyone is rushing to grab it — if no one is, that’s your cue to move forward; if everyone is, that’s your chance to prove you’re better than the rest.

2. Focus on actions over words.

“Actions speak louder than words,” supposedly, and the late Andrew Carnegie agreed. As his career grew, he said, “As I grow older, I pay less attention to what men say. I just watch what they do.”

Understand that a shining business plan or investment presentation means little when you don’t demonstrate the ability to carry out your ideas well. Customers and clients want to see flawless application of your company’s core values and mission statement. Keep this formula in mind when seeking out employees, as well. A perfect resume doesn’t necessarily constitute a perfect employee, if that person can’t properly act on his qualifications and intentions.

3. Maintain a clear vision of success.

“Vision is perhaps our greatest strength… it has kept us alive to the power and continuity of thought through the centuries, it makes us peer into the future and lends shape to the unknown.”

Hong Kong business magnate Li Ka-Shing, the richest person in all of Asia, believes in vision as a motivational tool for success. What does success look like to you? If your answer is just “a lot of money,” this may not be the article for you.

Many people envision success as finally seeing their product on store shelves, making up for initial overhead costs, gaining a certain following or changing the community in which they live. In order to stay on track toward fulfilling your goals, it’s important to maintain a clear vision of what that goal is — and what things will look like once it’s achieved.

4. Never stop learning.

Entrepreneurs who don’t acknowledge the need to constantly learn new things are denying themselves and their businesses the chance to grow. Even once you achieve some degree of success, understand that those around you (even those who are less successful) know something you don’t.

Listen to what others have to say about their experiences. Learn from their achievements and their mistakes. If you don’t want to base your development on other people, try taking a step back and exploring the areas of entrepreneurship you can still improve upon. Elon Musk, founder of PayPal, SpaceX and Tesla Motors, says “that’s the single best piece of advice — constantly think about how you could be doing things better and questioning yourself.”

5. Get the job done.

This one sounds simple, but you’re likely procrastinating without even knowing it. Those who spend an immense amount of time marketing a business before there’s even a business to advertise are putting off actually building a brand. The same goes for those who spend time attempting to perform Web or graphic design themselves, obsessively organize finances and legal paperwork, and so on.

Even as an entrepreneur, you can’t wear every hat, and it’s often smart to assign tasks that aren’t immediately related to building your business to someone else. Don’t be afraid to ask for help from a small team of employees or some remote freelancers if it means you’ll be able to turn your company into everything you dreamed.

“Getting the job done has been the basis for the success my company has achieved,” said Michael Bloomberg, entrepreneur, investor and former mayor of New York City.

6. Only hire rock stars.

You can’t exemplify greatness if the people who make up your company aren’t great, too. My brother Matthew and I have always made a point of carefully selecting those we hire on to our teams, even if it takes a little extra time. We like people with a heavy determination to GSD (Get Stuff Done).

As we have such grand expectations for our employees, we always make sure to treat them as more than just that. Matthew and I strive to take care of them as we would with family. Matthew and I also allow our employees the flexibility to work from anywhere and provide bonuses from time to time to thank them for their trustworthiness and flexible capability. The extra appreciation certainly goes a long way in enhancing work ethic and promoting remote teamwork.

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Don’t Get Bitter, Get Better

The meetings all went well, the dealer and GM were present, all the sales and F&I managers seemed to agree with the plan and the coffee and doughnuts were fresh. What more can you ask for? Now it’s off to the races! … Or is it? Everyone agreed with the plan, but are they actually committed it?

In the agency space, when it comes to implementing change, there is a big difference between agreement and commitment. Whether it’s the rollout of a new account or the installation of a new product, the process for account development can take a sharp turn if the dealership’s staff is not fully committed.

Getting to know the difference between a commitment and an agreement before you trust the rollout or installation went as planned is vital to the overall success and development of the account. It’s also the only way to ensure all those meetings make you, the dealer and their team better, not bitter.

Fear of Commitment

Typically, all you have accomplished when the dealership’s staff displays a lack of engagement during meetings is an agreement. It’s the meeting in which the dealership’s staff engages in meaningful discussions, dialogue and debate that a true commitment is formed. Agreement happens when people sit in meetings, nod their heads and then, afterward, either fail to take action or deliver on time.

Commitment, on the other hand, occurs when people take responsibility and then follow through to completion. Agreement results in head nods. Commitment results in action. There is something about progress and improvement that gets a dealer’s attention. No progress or improvement and you may find yourself swimming with the sharks. No amount of coffee and doughnuts will save you.

One of the greatest obstacles impeding your ability to development and progress with a dealership is its staff’s commitment to make the shift. Just because they say they’ll do it doesn’t mean they will. How many times have you found yourself shaking your head in wonderment after learning that the F&I and sales management staff had not begun executing a specific procedure, policy or process that they all agreed would make a positive impact? Does your stomach turn while listening to the list of excuses they provide for not following through with the plan? Do you find yourself disappointed and discouraged with their lack of motivation and discipline? Do you find yourself on the edge of that slippery slope known as mediocrity?

Don’t give in to their shortcomings. Don’t allow the dealership’s staff to control your destiny. Sometimes you will work your tail off, do all you can do, and still not get the results you want. Sometimes there will be obstacles that get in the way of your progress and you will feel defeated. Sometimes you will simply give in to all the mediocrity that surrounds you. That’s life! When things simply don’t go as planned you have two options: get better or get bitter.

Personal Standards

When you feel you gave it your all or put in a great effort and fell short of the objective, the important thing when evaluating the outcome is your viewpoint. It’s your viewpoint that matters the most when assessing the damage. Every now and then, you need to take a good look in the mirror and ask yourself, what is the real reason? Did you truly give it your all and what can you do to make the outcome better the next time you’re faced with a similar situation?

Reevaluate your drive and your knowledge. Be truthful with yourself. Once you evaluate the facts and assess whether or not you truly gave it your best, you can take comfort in the fact that you left it all on the line. Only then can you step back and realize you have bettered yourself by pouring your all into it. If your best effort wasn’t enough this time, you are better prepared to accomplish it next time.

Becoming the best agent you can be requires holding yourself to a high standard. If you fell short of your objectives because you failed to give your all during your preparation, that will become immediately apparent to you. Life is full of probabilities. If you can learn from your shortcomings, you will be better prepared to take on a new challenge in a meaningful way. Sometimes falling short and realizing that you did not provide the effort needed and working harder with your next chance can make you stronger in the long run.

The choice is always yours. When faced with defeat, you can get better by focusing on correcting past mistakes, providing necessary effort and working your tail off to ensure that you will be ready next time. Or you can get bitter by allowing yourself to slip into sulking self-doubt, failing to correct your mindset and ensuring you will be unsuccessful going forward. Get better at controlling your destiny. If you don’t, someone else will.

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