There are three skills you need to be financially successful: making money, keeping money, growing money. James Altucher is mostly only good at making money.
“I’ve had several instances where I’ve started a business, sold it, made a lot of money, and then basically lost everything I made, whether it was $50 million or $5 million or whatever,” he tells Fast Company. “I always have a tendency to lose everything I made.”
At some point, Altucher started thinking about the routines and habits he kept while he was making money starting and running more than 20 companies, investing in over 30 companies, advising another 50 private companies (ranging from $0 in revenue to a billion in revenue), publishing a handful of books, including the upcoming The Rich Employee, and hosting a number of podcasts, including an upcoming one with Freakonomics’ Stephen J. Dubner called Question of the Day.
There are some simple rules, like drink coffee first thing in the morning and 20 minutes before you write so that it “sets your brain on fire, makes you go to the bathroom, cleans your body out before you set your heart on fire.” Then, there’s his 30% rule, which basically says that everyone should cut or rewrite at least 30% of their masterpiece after they think they’ve finished it. Next, there are some complicated rules that require some math, like the 4/64 rule and the 30/150/millions rule. But, specifically, there are two rules that have always brought Altucher back to success every time he falls down and loses everything.
Below are his two rules to live and work by:
Sourced through Scoop.it from: www.fastcompany.com
Staying focused on the right things can make all the difference.