“A formal Education Will Make You A Living, Self-Education Will Make You A fortune”
What is something that all wealthy people have in common? Some may say an early morning routine, a certain diet or some crazy 18-hour work schedule. I have been studying successful people for the last decade and there has been one major thing that has stuck out. That one thing is self-education.
Can you think of one person that is extremely successful from his/her college degree? I can’t. This is exactly why I invest at least 10% of my income in education every single month. In fact, the last 14 days I have gone to two conferences, bought two courses, finished a book and paid for a 1-on-1 mentor session. I know if my education stops, my growth stops, and if my growth stops I have zero chance at being successful.
I have learned so much the past two weeks it is almost overwhelming. So, I wanted to take the time to share my top 3 takeaways from the two billionaires (picture below) and the multiple deca-millionaires I met over the past 2 weeks.
Jesse Itzler & Sara Blakely
1) Speed of Implementation.
Did you know we forget more than 50% of what we learn in 24 hours and over 90% in under just one weeks time?
Here are some interesting statistics on how much information we actually retain given different courses of action:
90% retention if we teach someone else/use immediately.
75% retention when we practice what we learned.
50% retention if we learn when engaged in a group discussion.
30% retention when we see a demonstration.
20% retention when we learn from audio-visual.
10% retention when we learn from reading.
5% retention when we learn from a lecture.
I use to read, watch informational videos, interview successful people and wonder why my life wasn’t changing or getting better. It wasn’t until I actually made a commitment to take action IMMEDIATELY after learning something did my life change.
At the conference I was at 7 days ago, several of the speakers spoke about how important the “speed of implementation” is. One speaker said: “I can tell how successful someone is going to be by how quickly they take action on what they learn.”
So how do I efficiently and effectively retain information? It’s not always feasible to do immediately. When I cannot act on what I learn, I take notes and put a reminder in my calendar to take action on the information within 12 hours. The action I determine to take varies and depends on the information learned.
Based on the statistics above, teaching immediately is the best way to retain information. If you follow me, you probably see me doing Instagram stories about various topics quite often. The reason I do this is that I am re-teaching myself the information I have learned. Not only do I retain more, but I also learn more from researching tough questions from my audience. I would highly recommend implementing some form of teaching in your journey with growth.
“If you Can’t Be Yourself, Who Are You Going To Be?”
2) Be You. Be Different.
This was a huge one that resonated deeply with me, so much it gave me chills when Jesse Itzler started talking about it. He claims that one reason he is so successful is that he is unapologetically himself. He and his wife spoke a lot about being unorthodox and doing things differently from everyone else.
Sara had her major breakthrough with the biggest retailer in the nation because she skipped the trade shows (what everyone else was doing) and called the decision makers directly. She then showed up at their office to sell them. She is now worth over $1 billion dollars.
Jesse has a similar story with his company Marquee Jet. No one had ever started a jet company with no experience and not owning a single jet. He talked about how people called him crazy all the time, even their first major partner with NetJets (Warren Buffet’s company) called them crazy before finally making a deal with them.
Both of them talked about feeling out of place, unworthy and insecure at the beginning of their entrepreneurial journey’s. They went on to say how important it is to continue to trust your gut and be yourself. They both attribute their success to being unorthodox.
Nothing truly great will happen from doing what everyone else is doing. If you feel weird/different, embrace it and realize you are lucky (unless you want to be average that is…).
“He who chases two rabbits catches none”
Do you ever stop to think about if what you are doing actually aligns with what you are thinking about? So often, we are not present in what we are doing because we are thinking about different things.
We practiced meditation at the conference where we compartmentalized our thoughts into 3 categories; past, present, and future. It was amazing once I started to be aware of my thoughts about how often I was not 100% focused. Multi-tasking is an excellent way to never actually get anything done, so you must train your brain to focus on the task at hand.
Each and every day I have one major thing I need to get done and I do not let the day end until it is complete. While I work on two different businesses, I have one major goal. I also time block my day and have one major task in each time block that I focus on. If my mind starts thinking about another task I write it down and get to it later.
One thing I have learned about focus is it is more important to decide what not to focus on. Try to work on taking out the distractions in your life. If you constantly pick up your phone, remove it from your environment. A killer book that I recommend every entrepreneur reads is The One Thing by Gary Keller. Seriously, go get it if you are struggling with focus. I just finished reading it for the second time and I can tell you it has helped me gain much more clarity into what I actually need to be focusing on. If you are having trouble prioritizing and time blocking, here is a resource I use: