The ONE Shocking Success Factor of the Super Rich

– The one success factor of millionaires and also billionaires, what is that one thing. This is going to be the thing I’m going to share with you that’s going to make or break your business. (soft hip hop music) It’s all about their ability to consistently make the right decisions at the right time, that produce the right result, I’ll say that again. The ability to consistently make the right decisions at the right timing, that produce the right result. That is the secret, of success for millionaires and billionaires.

Now one of the core things why I say decision making is one of the critical deciding factors of your success is going to be understanding how you’re gonna make decisions. I had the opportunity for example to invest half a million dollars in a SAS business last year. I had to decide what was the decision I was gonna make. I had to review all of these different options, I had to weight the ups and the downs, and all these different things because, I don’t know about you, but $500,000 is a lot of money even to me, so for example, pulling that trigger you have to assess the business, you have to assess all these things, if you put in the money, what’s going to happen, if you don’t put in the money what’s going to happen.

Now that’s one of the big decisions that I give you an example of, but for example what about the small decisions that you make every single day?

Because that’s what’s gonna really make the difference. Small decisions like in your business like who to hire? Who to fire? Why should you bring someone on? How are you going to leverage your resources, your cashflow to be able to go to the next step, what is the next step?

Once you solidify your next six month or three-month plan or quarter plan, whatever it is, if you execute on that what is the result of that, what’s the pros and the cons, all of those things that are all about the decision-making ability that you make. The reason why, for example, Jeff Basos, Jack Mob, Bill Gates, Warren Buffet, doesn’t matter who you name anybody that’s well known or even successful, have made key decisions, not the big ones, but the small ones, that add up every single day that bring them to where they are now. All the small decisions that they had to make every single day whether they should work one hour, five hours, eight hours, or they put in 10, 15 hours a day every single day of their life.

Or what specific ways to leverage your resources. How are they going to make the right decisions at the right time, that produce the right results?

That’s why it’s so important for you to understand the decision-making thing, I’m going to give you three core questions that my mentor gave me, that is simple, it’s clear, you don’t have to overwhelm yourself because analysis by paralysis is one of the dangers of decision making. So the three questions are, the first one, what is the upside? The first thing you winna always consider and we’re really good at these as human beings is what is the upside in our business. What are the advantages, what are the pros, what are the things that we’re going to get if we make the decision to actually execute on that. The second thing is what’s the downside?

What could you stand to lose, what could the alternatives be to that specific decision. What about the resources that you invest. You winna make sure that you cover your downside, but you got to know what the downside is first. And the final one, and the most important question of all can you live with the downside? Meaning that can you actually understand, once you have that downside, if I put in $500,000 into that SAS business, and then lost it all, can I live with that?

Can I actually understand that in that moment, if I lost $500,000 what would that do to me, personally and what would that do to the business? You got to weigh that risk and you got to weigh the reward.

You can’t just be thinking about the upside all the time. That’s a critical thing, what’s the upside, what’s the downside, can you live with the downside, the most important part. The second most important thing why decision making is the one critical core factor of success is to understand and deeply reflect on decisions that you’ve made up to this point in your life.

Doesn’t matter if you’re 20, or 30, or 40 or 50 at this age point in your life right now, I want you to look back and I want you to actually get a document and I want you to list out, what is the decisions that you’ve made in your life to get to where you are today? A, b, c, d. Any of the major or also the minor decisions that you make right now, and also in the past.

I want you to analyze them and I want you to understand, your own decision-making mindset. And I want you to adjust it where you’re focusing on understanding that the big decisions you ask yourself those three critical questions, but every single day the decisions that you choose to make, whether you decide to work x amount of hours, who you decide to engage with and surround yourself with how you decide to leverage certain aspects in your life the decisions that you make every single day, the minor ones, make sure that you’re aware of those and develop that self-awareness because once you have that self-awareness you’re going to be able to understand your decision making ability much more deeper and once you have that depth, you’re able to take it forward to the next level, every single day I always have a sheet where I look at what are the top three outcomes, and I’m making decision and defined outcome, like this is what I’m going to do these three days, this is what I’m going to do this week, this is our quarter one plan, and this is what’s going to happen.

Even the small minor things like when to wake up when to eat breakfast, when to eat lunch, when to eat dinner, who should I meet today, who should I meet next week, why should I meet them? All these things are decisions that you’re making and that compound and add up. The critical word here is compounding. So, every single decision that you make, however smalls, compounds into a big and massive result, always remember, cause equals effect, decision, equals results. So you winna make sure whether that’s a good or a bad result that you make the right decisions in your life, in your business that’s going to move you forward and give you the experience without making a ton of mistakes, though when you do the analysis you’re able to understand how to reduce the amount of mistakes that you make and we always consider mistakes as decisions that don’t give us the outcomes that we want.

So that’s why we winna focus on that. Understand that when you reflect on this you understand your decision making ability, you reduce the amount of mistakes that you make in your life finally now that you know the one critical deciding factor of millionaires and billionaires, you can apply this into your own lives to make sure that you can take your business and your life to the next level.

By reducing the amounts of mistakes that you make. So if you got one core insight from this video I want you to comment below and let me know right now what is a one thing that you got from this video, make sure you like this video and the most important thing is that you subscribe to the channel so you get things like this, where I’m sharing with you from the real world experience of decision making abilities all of these things of how you can take your entrepreneur mindset and your business to the next level.

So, make sure to hit the subscribe button and also the bell icon, so you get future releases and updates on videos that I put out for you.

Thanks for watching and I’ll see you in the next one.

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