Showing posts with label financial success. Show all posts
Showing posts with label financial success. Show all posts

Saturday, June 15, 2019

The Billion Dollar Secret



Rafael Badziag interviewed 21 billionaires for his book “The Billion Dollar Secret” and found that six shared habits helped lead to their success. Badziag spent five years conducting face-to-face interviews with 21 self-made billionaire entrepreneurs around the world (defined as those with a net worth of at least $1 billion) and researching their lives and companies. He found that they share the same six habits, which created the foundation for their businesses and financial success.

BusinessInsider published six habits that the author claims are shared by all the billionaires he interviewed.

Here they are:
1. Billionaires wake up early .
2. Billionaires keep healthy.
3. Billionaires read. 
4. Billionaires contemplate. 
5. Billionaires develop routines and rituals. 
6. Billionaires practice discipline.

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New law of productivity



Deep Work is about the science of productivity, the best way to get more meaningful work done is by working deeply – working in a state of high concentration without distractions on a single task.

The new law of productivity is:
High-Quality Work Produced = (Time Spent) x (Intensity of Focus)

“Deep Work: Professional activities performed in a state of distraction-free concentration that push your cognitive capabilities to their limit. These efforts create new value, improve your skill, and are hard to replicate.”
“Shallow Work: Noncognitively demanding, logistical-style tasks, often performed while distracted. These efforts tend to not create much new value in the world and are easy to replicate.”

Deep Work Is Rare, Yet Highly Valuable

“The Deep Work Hypothesis: The ability to perform deep work is becoming increasingly rare at exactly the same time it is becoming increasingly valuable in our economy. As a consequence, the few who cultivate this skill, and then make it the core of their working life, will thrive.”
 For starters, shallow work is easier. In addition, shallow work seems to be encouraged by most businesses. Think: constant connectivity, expectations of fast response times, or open plan offices. Employees, choosing the path of least resistance, will simply adopt to this type of shallow-work-inducing environment by, well, working in a shallow manner.
According to Cal Newport author of the book “Deep Work”, most workers today succumb to something he calls increasingly visible busyness or busyness as proxy for productivity. In the absence of clear indicators of what it means to be valuable and productive at work, many knowledge workers turn toward an industrial indicator of productivity: doing lots of stuff in a visible manner.
Cal Newport sums it up: “Deep work is hard and shallow work is easier and in the absence of clear goals for your job, the visible busyness that surrounds shallow work becomes self-preserving.”

The Rules of Deep Work.....
Rule #1: Work Deeply
Rule #2: Embrace Boredom
Rule #3: Quit Social Media
Rule #4: Drain the Shallows

As the world advances, three kinds of people will survive and prosper:
I-Owners of capital or people with access to it
II-Those who can work with intelligent machines and technology
III-Superstars in their field of work

Deep Work focuses on the third type. To become one, you need to develop two skills: the ability to quickly master hard things and the ability to produce at an elite level, in terms of both quality and speed. Deep Work is the concept that interlinks these two skills.

Source:”Deep Work: Rules for Focused Success in a Distracted World” by Cal Newport

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