Increase Your earning ability | Brian Tracy

Aristotle back in 350 BC introduced a concept that would become one of the most powerful ideas in the world he called it the principle of causality which we now refer to as the law of cause and effect the Bible speaks of this as the law of sewing and reaping and Isaac Newton described it as the law of action and reaction what this principle tells us is that for every outcome in your life there is a specific cause if we want a particular result let's say we want to double our income and then double it again

we need to identify the cause behind that effect here's a simple strategy find someone in your industry who is already earning twice as much as you then approach them and ask how did you achieve this level of success remember every High earner once earned less just like you they followed certain steps applied certain habits and now their results have multiplied this isn't Magic it's the power of cause and effect in action so learn from the top performers in your field replicate their habits and strategies and soon enough you'll find yourself achieving the same or even

greater results I learned this firsthand from someone who shared this exact wisdom with me early in my career I followed his advice kept learning kept applying myself and within a year that same person ended up working for me he had been very successful but had stopped growing and developing new skills meanwhile I continued to push myself to learn more and improve that's the lesson if you do what successful people do you will inevitably achieve similar results it's a proven law now let's ask an important question what is your most valuable asset in terms of your

wealth and everything you own what's the single most valuable thing you possess many people think it's their home their car or their Investments but the truth is your most valuable asset is your earning ability it's your ability to generate income I think about it your earning ability is what puts money in your pocket now and in the future it's what creates cash flow and Financial Security when I first learned this I to thought my house or my savings account was my greatest asset but no it's your ability to earn money that ability is priceless you

could lose your house your job or even move across the country but as long as you maintain your earning ability your skills knowledge and experience you'll always have the power to generate income your earning ability has been developed over your entire lifetime every job you've had every lesson you've learned every skill you've mastered all of it has contributed to building this valuable asset and the more you invest in yourself through learning and improving the greater your earning ability becomes this realization alone sets you apart for most people because it empowers you to take control of

your financial future understanding this is worth tens of thousands even hundreds of thousands of dollars to you over the course of your lifetime the more you focus on increasing your earning ability the more successful you'll become what's the difference between you and someone living in Bangladesh where the average income is around $180 a year or in China where it's still about $200 a year the answer is simple it's your earning ability you live in an economy that offers the potential for one of the highest standards of living in human history why because of the power

that resides between your ears your ability to think learn and apply that knowledge to create value now doesn't that make it crucial to take good care of your earning ability isn't it important to constantly upgrade it to analyze where it is today and where it can be tomorrow the answer is are res resounding yes the men and women who achieve greatness in our society don't wait for things to happen they take deliberate steps every day to improve and maintain the value of their earning ability as Aristotle said we do not act rightly because we have

virtue or Excellence but we have those because we've acted rightly in other words you become excellent by doing things in an excellent manner you are what you repeatedly do and the actions you choose Define your success but here's the most important part what you do and how you do it is entirely up to you you have the unique ability to make choices about how you live how you work and how you grow Excellence comes from making the decision to say yes to doing your very best in every situation when you say yes I will give

this task my absolute best effort and you do that consistently you develop the habit of excellence and Excellence is one of the most powerful ways to bring joy and fulfillment into your life when you strive for excellence success follows naturally but here's the catch self-discipline is the key to achieving that Excellence without self-discipline people fall into the traps of failure frustration and underachievement they make excuses they avoid the hard work and they settle for mediocrity this lack of self-discipline is the number one reason why people don't reach their full potential there are two major enemies

of success happiness and personal fulfillment that we must guard against the first is the path of least resistance this is what causes people to constantly seek the easy way out they look for shortcuts they avoid challenges and they refuse to put in the necessary effort they show up to work just in time and leave the moment the clock hits 5 they hope for quick fixes and easy money over time this mindset becomes a habit and it prevents them from achieving real success the second enemy is the expediency Factor this is even more dangerous because it

leads people to focus only on short-term pleasure ignoring the long-term consequences of their actions it's the tendency to do what's easy fun and comfortable right now rather than what's necessary for Success people choose what feels good in the moment even if it leads to failure down the road the truth is Success doesn't come from doing what's easy it comes from doing what's hard from consistently applying yourself to the tasks that matter most it's about resisting the temptation to take the easy way out and instead focusing on the long-term rewards that come from discipline effort and

Excellence if you want to achieve your goals you need to develop the habit of self-discipline you need to focus on doing what is necessary not what is expedient and you need to commit to continuous learning growth and Improvement by doing so you will increase your earning ability build a successful life and achieve the kind of results that most people only dream about one of the most powerful yet challenging principles for success is the ability to make a complete commitment whether it's to a job a relationship or profession the willingness to fully dedicate yourself is rare

many people unfortunately never truly make that leap they show up do their work and perform reasonably well but their heart isn't fully in it and while they may avoid getting fired they're also not excelling the truth is no significant success is possible without total commitment Ralph Waldo Emerson once said that every great achievement is the Triumph of enthusiasm what he meant is that the ability to throw yourself wholeheartedly with passion and energy into whatever doing is the foundation of all accomplishment if you can't commit fully it may be a sign that you're not in the

right place deep down we're all searching for something that we can commit to completely something that captures our enthusiasm and motivates us to give it our all Allan Cox in his book The Achievers found that the executives who climbed the corporate ladder the fastest were those who found the right fit in their careers they became totally absorbed in their work losing themselves in it similarly Dr Shelli blotnik conducted a 20-year study of 1,500 people tracking their financial success she discovered that 83 of these individuals became self-made millionaires what set them apart they picked work they

loved specialized in it became excellent at it and eventually they were paid handsomely for their expertise but there's more to it these individuals not only made money but they also kept it they didn't gamble it away or take unnecessary risks they were conservative with their finances over time their wealth grew steadily for example one person in the study started by cleaning toilets on the night shift for an airline today he's is the president of that Airline earning nearly $2 million a year now after 35 years reaching millionaire status may seem inevitable with that income but

it wasn't just the paycheck that made him wealthy it was his long-term commitment to his work and his disciplined approach to managing his money the defining quality of these successful individuals is that they became completely absorbed in their work they didn't just punch the clock they were fully engaged entirely committed over time they got so caught up in their work that they didn't even realize how much progress they were making many of them reached the age of 43 or 4044 and were surprised when their accountant informed them by the way you're worth over a million

dollars they didn't set out to become millionaires they simply committed to Excellence in their field and the wealth followed the lesson here is simple commitment is the key to success when you find something you love throw yourself into it specialize become excellent and the rewards will come but it all starts with the decision to commit fully to give 100% not 50% not 90% but everything you've got if you're only halfway in you're leaving your potential untapped and that's where most people fall short the ones who succeed the ones who make real progress in life are

the ones who commit wholeheartedly and when you do that success becomes inevitable it's absolutely critical that you find work you can fully commit yourself to the same goes for your relationships whether personal or professional commitment is the foundation for Success if you're an employer you need to recognize the impact of having people on your team who aren't committed these individuals can become like rotten apples in a barrel slowly affecting the rest of the organization I found that people who aren't fully committed to their jobs are often the ones causing trouble whether it's low morale or

conflicts within the team on the other hand those who are committed they don't have to be the most talented the best looking or the most educated if they are truly committed to their work they'll outperform everyone else commitment beats Talent when talent doesn't commit commitment is one of the most valuable assets you can bring to any job or relationship it's more important than Talent looks are credentials when you commit yourself to your boss your job your company and your relationships Everything Changes you start to excel because you're giving your all loyalty plays a huge role

in this equation Peter Ducker the legendary Management Consultant said that more Executives fail because of a lack of loyalty than for any other reason a lack of loyalty is simply a lack of commitment and without commitment you'll never reach the top in any field take a look at self-made millionaires they work hard really hard they start earlier work harder and stay later than everyone else they earn a reputation for being some of the hardest working people in their industry and everyone knows it this brings us to the 40 formula the formula is simple you work

40 hours a week just to survive but everything over 40 hours that's where success begins if you only work the bare minimum 40 hours into to day the average work week is closer to 35 hours you'll just get by you'll never get ahead never become a financial success never earn the respect of your peers you'll always remain average but every hour you put in Beyond those 40 is an investment in your future in fact if you want to know where you'll be 5 years from now just look at how many hours over 40 you work

each week the average self-made millionaire in America Works 59 hours a week some push it even further working 70 or 80 hours a week they're not just working harder they're working smarter they're fully committed and that commitment shows in the hours they invest in their future the typical self-made millionaire doesn't work five days a week they work six and their days are longer than average too if you want proof try calling a self-made Millionaire's office before normal working hours or after everyone else has gone home chances are they're still there they arrive before their team

and they stay long after everyone else has left they understand that success isn't a part-time job it's a full-time commitment but here's the key work all the time you work when you're at work don't waste a minute get in early put your head down and start immediately when people try to distract you politely excuse yourself and say I have to get back to work don't waste time running errands chatting with friends or reading the news during work hours focus on your tasks stay disciplined and maximize every minute you're on the clock resolve today to become

known as the hardest working person in your company when you earn that reputation you'll attract the attention of the people who can help you move up faster than almost anything else you could do hard work doesn't go unnoticed and it's often the single biggest differentiator between those who make it and those who don't remember success doesn't come from Simply showing up it comes from committing yourself fully going the extra mile and working harder than everyone else around you your success in life like in business is governed by key principles and two of the most important

are what I call the law of accumulation and the law of incremental Improvement the law of accumulation teaches us that every great success is the result of countless small often unnoticed efforts every time you make an effort however small you add to your reservoir of success these efforts accumulate over time leading to extraordinary outcomes it's like compound interest each little step you take bills on the last bringing you closer to your goals the second principle The Law of incremental Improvement is a crucial subw of accumulation this law tells us that real success doesn't happen in

giant leaps but in small consistent steps the most successful men and women in any field become better by improving just a little every day they focus on continuous self-improvement constantly working on themselves refining their skills their mindset and their strategies no one jumps from average to extraordinary overnight success is a process of small consistent advancements hour by hour day by day year by year you've likely heard the phrase knowledge is power but it's important to recognize that knowledge by itself is not enough the real power lies in Practical knowledge knowledge you can use to get

tangible results in your field the more valuable knowledge you acquire and apply the more successful you will become knowledge that remains theoretical won't drive results it's the knowledge that you act upon the information that you put to work that leads to breakthroughs in fact research shows that top Achievers in every field possess more knowledge than the average person it's this knowledge that sets them apart they've mastered their craft by knowing more by continuously learning and applying new insights this gives them a distinct advantage and allows them to leverage that knowledge for greater results what's even

more critical to understand is that knowledge in the world is doubling every seven years this means that if you want to stay competitive you must continually learn and adapt if you aren't doubling your knowledge you aren't just staying in the same place you're actually falling behind consider this millions of new articles books and studies are being published each year in order to stay relevant you must be committed to learning and applying new information if you want to keep Pace in your field you must make it a habit to upgrade your knowledge consistently ultimately your success

will be in direct proportion to the amount of useful information you gather and apply sometimes just one key idea discovered at the right time can transform your entire career or business the ability to find that one critical piece of information to spot an opportunity or to apply a technique that makes a difference can completely alter your future trajectory success is built on the small daily actions and the continuous quest for new applicable knowledge focus on making incremental improvements Gathering practical knowledge and applying it relentlessly and you will find yourself on the fast track to success

here's a key idea when it comes to knowledge and the rewards it brings think of your knowledge as if it's being stored in a bucket or a pot when you first start out in your career the amount of knowledge you have is small and as a result the rewards you receive whether they're Financial personal or professional are equally small your rewards are a direct reflection of the amount of useful knowledge you possess as you accumulate more knowledge the rewards you receive increase as your knowledge grows so do your rewards and the more valuable you become

in your field the more those rewards expand but here's the critical point your job is to fill that pot with as much useful information and knowledge as you can the more you put into it the more valuable you become however there's a catch imagine there's a leak at the bottom of the pot some of the knowledge you acquire is constantly leaking out becoming obsolete outdated or Irrelevant this means that if you stop filling the pot with fresh updated knowledge you don't just stay where you are you start to fall behind the world moves forward and

if you're not actively learning and growing you risk losing ground so what's the solution how do you ensure that you're constantly upgrading your knowledge staying on the fast track and continually adding value to your pot one of the most powerful methods to stay ahead is simple committing to reading just one hour per day can change the trajectory of your entire career and life think about it one hour of focus reading a day can turn you into an expert in your field within just 3 years in 5 years you can become a National Authority one hour

a day translates into roughly one book per week now when I say reading I'm not talking about newspapers TV guides or magaz azines I'm talking about reading what I call mental protein something that feeds your mind teaches you new skills and expands your knowledge in a meaningful way it's about diving into educational materials books and resources that help you grow in your field the average adult has about 72 discretionary hours a week after work and sleep you still have those hours left to invest in yourself I'm suggesting that you take just 10% of those hours

around 7 hours a week and invest them in your personal and professional development by reading if you dedicate just 1 hour per day that adds up to 50 books a year over the course of a decade that's 500 books now here's the surprising part the average adult in America reads less than one non-fiction book per year if you simply commit to reading one non-fiction book per month you'll immediately move into the top 1% of professional development in the country think about the edge this gives you over your competition by reading just 30 to 60 minutes

a day by completing one book a week and reading 50 books a year you can Propel yourself to the very top of your feel guaranteed the act of reading regularly is one of the simplest yet most effective ways to increase your value expand your knowledge and ensure that you're always moving forward in life and in business don't let that pot of knowledge run dry keep filling it and watch your rewards grow in today's fast-paced world staying on top of your field requires more than just basic knowledge you need to be intentional about the information you

consume there are specific magazines and Publications that are key to your success in business and in your chosen field if it's critical to make sure you're reading the right material Publications like Forbes Fortune Success magazine Inc and the leading trade magazines in your industry are invaluable resources why because the most successful people in any field are constantly reading these magazines to stay current on Trends strategies and insights that keep them ahead they invest time in what matters most on the other hand there are many people who waste time reading newspapers or irrelevant Publications or Worse

spend hours in front of the television these R ractions do nothing to help you achieve your most important goals you need to cut out anything that doesn't contribute directly to your success Focus only on the material that will help you grow and get closer to your major objectives the top performers understand this and that's why they dominate in their fields another essential tool for self-improvement and continuous learning is the use of audio programs listening to audio while driving can turn your commute into a university on Wheels think about it the average person drives 12,000 to

25,000 mil per year which translates into 500 to 1,000 hours spent behind the wheel that's the equivalent of 12.5 to 25 full 4our work weeks each year in other words by listening to educational audio programs during your driving time you can get the same benefit as attending one or two full semesters at a university audio tape learning is one of the greatest advancements in education allowing you to absorb key information learn new skills and become one of the best educated people in your field simply by leveraging time that would otherwise be wasted but remember you're

not alone in this race your competitors are out there and many of them are listening to these same programs and gaining The Edge on you if you're not taking advantage of this powerful tool they are and in today's competitive environment every bit of extra knowledge and insight can make the difference between winning and losing don't let them get ahead in addition to reading the right materials and listening to audio programs seminars are an incredibly powerful way to accelerate your learning a seminar is more than just an educational event its compressed time every hour you spend

in a seminar is the result of the presenter spending hundreds of hours refining and Distilling the material Gathering the most essential insights and preparing it in a way that makes it easy for you to absorb by attending seminars conducted by experts in your field you can save yourself countless hours weeks even years of trial and error it's crucial however to attend the right seminars avoid seminars taught by people who have only theoretical knowledge or who teach at universities without any real world experience the best learning comes from those who have been in the trenches who

have real practical successful experience in the field you'll often get more actionable insights in a one or two day seminar than you could by spending hundreds of hours trying to figure it out on your own the return on investment is massive and the time you save is invaluable become a seminar fanatic seek out experts who have achieved real success and immerse yourself in their knowledge by doing this you not only accelerate your learning but you also gain the insights and strategies that can can help you leap ahead in your career so commit to regularly attending

seminars and learning from the very best it's one of the most powerful Investments you can make in yourself joining professional associations is one of the smartest moves you can make in your career but here's the interesting part despite there being thousands of people in any given field only a small percentage actually become members of these associations even fewer attend the meetings regularly however here's the key Insight it's almost always the top performers the best people in their fields who are not only members but also active partic ipants in these associations and the rest they miss

out on the incredible opportunities that these associations offer so if you want to be one of the best in your field the first step is to get involved attend the meetings listen to the speakers and immerse yourself in the knowledge being shared professional associations are under pressure to bring in the best speakers with the most valuable information so when you go sit there with an open mind and take notes diligently don't be passive no one's memory is good enough to capture everything so take notes is essential this habit alone can help you retain more insights

and strategies that can Propel your career forward secondly take advantage of the workshops that these associations offer often they feature some of the best educational sessions you'll find anywhere tailored specifically to your field these workshops provide concentrated learning that can help you leap ahead in your career from my own experience I found that joining professional associations and attending their meetings regularly can save you 5 years of hard work by providing you with Cutting Edge knowledge and Industry best practices next make sure to attend the annual meetings these gatherings are designed to offer maximum value to

Association members so don't miss out the annual meetings are where you can access the latest trends network with top professionals and soak up knowledge that you simply won't find elsewhere it's amazing how much you can learn and how many doors can open by attending these events now here's one of the most valuable strategies you can apply I call it umbla which stands for up move walk around this is one of the most effective ways to get timely relevant information in your field what does it mean it means getting out of your office or comfort zone

and engaging with others in your industry meet with colleagues ask questions see what others are working on and share insights the top 75% of successful Executives and professionals are always interacting with others exchanging ideas and staying informed don't isolate yourself get among them and learn from their experiences by regularly attending Association events networking with others and keeping your finger on the pulse of your industry you'll Ensure that you stay on top of your game being part of these associations puts you in direct contact with the leaders in your field and gives you access to knowledge

that most people miss out on finally commit yourself to lifelong learning and staying on the fast track don't settle for being average keep moving keep learning and stay ahead when you engage with others absorb valuable information and apply it to your work you'll position yourself as a leader in your field associations provide the perfect platform to do just that stay involved stay informed and keep pushing toward excellence