The Mark of Success: 50 Common Traits of Prosperous People (part 2)

What can we learn from the most successful people in the world? In fact, just about every individual that’s become a leader or icon in their chosen vocation have the same traits in common.

Some of the most successful people in recent history include Bill Gates, Warren Buffet, Jeff Bezos, Richard Branson, Mark Zuckerberg, Oprah, and Elon Musk, establishing important legacies that benefit society. But apart from being ultra-rich and powerful, they have far more in common than you might think.

In part one of this series, we covered 25 traits of the world’s most prosperous people, which was warmly received with your questions, comments, and observations. So, we’ve worked hard to isolate the next 25 common traits of the rich, successful, and powerful here:

26.      Incredible communication skills.

High achievers are almost always great communicators, interacting with others efficiently using simple, clear, and concise messages, whether in person or in writing.  This also includes the ability to actively listen – a vastly undervalued skill.

27.      Masters at conflict resolution.

Industry leaders and icons don’t shy from conflict. Known as straight-shooters, they understand that it’s a healthy and necessary function of growth. That doesn’t mean they’re necessarily aggressive or combative, but let others speak their minds, vent, and advocate for their own opinion, just like they do. By facing conflict head-on, they’re able to work through it, solving problems instead of letting them fester.

28.      They keep their egos in check.

Successful people want to learn from others so that they can constantly grow and improve.  Instead of taking things personally and quickly becoming defensive, maintain perspective and seize the opportunity.

29.      Adopting others’ viewpoints.

The mark of a great mind is that it can consider two opposing viewpoints at the same time.  Leaders and succeed-ers can do the same with people, having empathy for others by adopting their viewpoints. They are always looking to add information to their existing opinion, which remains open and flexible.

30.      They outsource. 

We may think that top producers are control freaks and do everything themselves but, in fact, they actually maximize time, energy, skills, and income by outsourcing whenever possible. They do the math and figure out when it makes sense for them to handle certain tasks, or when to assign it to someone else. 

31.      Teamwork.

Achievers work with the best financial planners, tax professionals, attorneys, and other skilled professional they can find.  They build epic teams, and outsource as much of their systems as possible, understanding their role and focusing on their own strengths.

32.      Focus on interpersonal relationships.

Genuine, personal relationships are invaluable. Prosperous people don’t rely on technology to establish and fosters relationships for them.  They call and talk, set up meetings and take the time to interact – face-to-face whenever possible. They also give you their undivided attention and interest when speaking with you.

33.      Eating right.

Hi-power thinkers, achievers, and do-ers take great care of themselves, and that starts with eating right. The brain won't run optimally without the right fuel, and a healthy routine is essential for the heights they are climbing every day.

34.      They heed their creative/energy time.

It’s fascinating when you look at the creative cycles of geniuses; not only do they understand their optimal thinking and working times, they block that time and protect it fiercely.

35.      Stay active.

Just like with food, exercise is a big piece of staying on top of success. No matter how busy they get, successful people have a very regular exercise routine as well as making their health a priority.

36.      Relaxation.

Successful people are able to breathe, stay calm, and think clearly because they regularly decompress to shed the extreme stress of their day.  Their relaxation ritual can be simple meditation, yoga, getting a massage or going for a walk. 

37.      Stamina.

This trait is usually overlooked, but successful people work long hours and expend incredible amounts of energy day after day. They understand that special achievements take special perseverance over the long haul. 

38.      Quality time.

No matter how busy they are, successful people schedule time off to spend time with their families, see friends, and enjoy their lives. 

39.      Fun!

Likewise, winners embrace the journey, not the destination and have fun as they work, play, or whatever they’re doing. That positive outlook rounds out their lives.

40.      Financial discipline.

The billionaire not-quite-next-door is extremely careful and structured with his or her money.  Even before they achieve wealth, they track all of the income and expenses, whether it’s by inputting them into a spreadsheet, saving receipts, or using tracking software. 

41.      Lack of conspicuous consumption.

Research shows that when people have earned large amounts of money, they still rarely show off their wealth.  In fact, owning things is not really the point of their existence. Instead, they save and reinvest for the long term, using their wealth to pay for experiences, rather than things.

42.      Quality of life.

The wealthy do go on adventures, occasionally treat themselves to luxury items, and will go all-out for their families, but they do these things within a larger framework of smart planning and understanding value.

43.      Big picture thinking.

People who live meaningful and comfortable lives don’t buy assets with the exception of quick riches or short-term gains. Instead, they make quality investments and hold them, with the eye toward creating something that will pay them back many times over the decades.

44.      Invest young.

Even in their 20’s, these folks understand the power of compounding.  By putting money into 401k’s, Roth IRA’s and the like early, they benefit from high returns as they get closer to retirement.

45.      Automated savings.

Whatever they earn, successful people break off a tiny piece and stash it, deducting it directly from each paycheck. This is what they mean by “pay yourself first,” as it gives them a solid foundation to invest and grow before they ever touch the rest of the funds for basics or play.

46.      Plan for rainy days.

Successful people may take risks, but they definitely are pragmatic as well, planning and preparing for the unforeseen. They keep a good amount of savings, make sure they are well insured and protected, and generally minimize liability in every aspect of their lives.

47.      They pay off bad debt.

Interest from credit cards, car loans, and other credit is a silent killer for many family budgets. In fact, successful people universally pay off credit cards, car loans, small installment loans, and don’t carry personal debt on a month-to-month basis. While they often pay off their mortgages as well, they distinguish between “good debt” that helps with investment, taxes, and credit, and “bad” debt that just depletes their bank account.

48.      They can be great because they can serve.

These people reach a certain height of success where happiness is measured by how much they can positively impact the world, not just themselves. To do so, they serve on Boards, advise, mentor, attend community meetings, vote, and even support politicians that serve in their civic interests.

49.      A core of altruism.

From Bill Gates to Warren Buffet to the Oprah, just about every notable accomplished person donates significant sums to those in need. But they create the convenient excuse that they’ll become rich first, and then start giving; they make it a part of their life from early on.

50.      They love to work, and never want to quit.  

People who lead truly exceptional lives rarely look forward to a time they can retire and stop working Instead, they are extremely passionate about what they do for a living. Their work brings them joy, so they want to keep being productive as long as they can!

The Science of Goal Setting - And The Secret Ingredient That Will Help You Achieve Them.

Most of us have goals in life, whether they are short-term, like to get a raise at work or start eat healthier, or big, ambitions dreams like starting a successful business or cycling across America. Reaching those goals, however, often proves to be elusive, as we start and stop, talk ourselves out of them the moment we get discouraged, or they just remain whimsical wishes that never leave our brains. But instead of internal and emotional factors, reaching goals successfully is actually more of a science, your success based on factors you can predict and control.

A landmark study at Harvard found some shocking evidence that goal setting correlates with massive success. Of course Harvard business school is the top institution of its kind, and students and professionals who are selected for their MBA program are already the brightest and best in the country. But there were pronounced differences within the Harvard class that made the study on goal setting remarkable.

In 1979, Harvard MBA graduates were surveyed with the question: “Have you set clear, written goals for your future and made plans to accomplish them?” 

Of the Harvard business school graduates interviewed, this is what they found:

84% had no specific goals at all.

13% had goals but they were not committed to paper.

3% had clear, written goals and plans to accomplish them.

The same graduates were tracked down for a follow-up interview in 1989 to gauge how successful they’d become and if that at all correlated to their goal setting 10 years earlier. 

The researchers were shocked what they found. Of the same Harvard students originally surveyed:

The 13% of the class who had goals were earning, on average, twice as much as the 84% who had no goals at all.

Even more staggering, the 3% who had clear, written goals were earning, on average, 10 times as much as the other 97%...put together! 

Let me highlight that astounding fact another way: 

In a group of smart, successful people with no other apparent differences, the men and women who simply thought about their goals earned 200% more per year than those who had no goals!

And for the 3% who actually committed those goals to paper with a plan to reach them, they made 1,000% more.

The breakthrough finding was that when people set clear goals, and most importantly committed them to writing, they went on to achieve, succeed, and earn far more than their counterparts who had no specific goals.

The results were an incredible eureka moment in the science of goal setting and study of the human mind, but surely the achievement of these Harvard goal-setters must be an anomaly?

A psychology professor at Dominican University in California, Dr. Gail Matthews, set to find out when she conducted a study of 267 participants on goal setting. She compared several test groups to see if the findings of the Harvard study stood up to scrutiny. She broke her participants into several groups.

Among them were:

Group 1 thought only about their goals but didn’t commit them to paper.

Group 2 thought about and wrote down their goals.

It went all the way up to Group 5, that not only wrote down their goals, but wrote down action steps they could take to reach them, shared their goals with a supportive friend, and finally, made weekly progress reports to that friend.

Her work concluded that Group 2 – who simply committed their goals to paper - was 42% more likely to achieve them than Group 1.

And what about Group 5, who wrote down their goals, action steps they could take to reach them, shared their goals, and made a weekly progress report?

Incredibly, that group achieved their goals at a 78% higher rate than Group 1.

The most comprehensive research into goal setting took place in 2011, when a mega-analysis combined the findings of 38 smaller studies that took place before. The conclusions of these studies and countless other research into the field of human achievement prove there is a simple formula to successfully achieving your goals, no matter who you are or what your goals:

1) Design specific goals.

Goals that are concrete and laser-focused end up with higher success rates. Interestingly enough, goals that are bigger and more ambitious result in higher performance and success, not less.

2) Write them down.

Committing your goals to writing achieves a lot more than just having a visual reminder. Once they are spelled out on paper (or a computer screen), our minds perceive them as tangible, real-life experiences, not just wishes or dreams, and start acting accordingly.

3) Plan action steps.

It’s critical to plant a flag as the outcome or goal you ultimately want to reach, but it’s also important to map out your strategy to get there. By breaking your goal into smaller steps and planning how you’ll implement them, you’ll have a solid track to run the train of your efforts. 

4) Share those with a friend or accountability partner.

One of the most underrated aspects of goal setting is the psychology of group or external support. Having someone to give you feedback and hold you accountable makes a huge difference in goal achievement.  In fact, a study by researchers Chhokar and Wallin found that even regular feedback on a person’s progress raised goal performance. But when that feedback ceased, the same subjects suffered a sharp drop in performance.

5) Monitor progress with a weekly report.

On the journey to any goal there are plenty of ups and downs, landmarks and setbacks. Research has demonstrated that measuring and documenting progress along the way, whether daily, weekly, or whatever increment is relevant, helps keeps people on track and pushing forward to reaching their finish line.

There is incredible power in this process, and it doesn’t even really matter what your goals are. Whether you’re trying to earn an extra $50,000 this year, finally lose those extra 20 lbs., or even find the love of your life and get married – this method of achievement through goal setting is proven to work.

But there is a catch, one keystone that all of the studies and scientists found was absolutely essential to achieving any goal. Without this linchpin, the 5 steps are completely useless: 

You have to get started. 

Yes, it’s that simple – action is the foundation of all goal achievement. It doesn’t matter if you make mistakes along the way (you will) or suffer setbacks and obstacles (you probably will). The amazing power of this goal setting science will only work with action, and that’s the part that holds more people back than anything along the way. If you don’t - if you outthink yourself one more time, procrastinate and make excuses, or fail to commit to your own success yet again, you’re almost guaranteed to fall short.

But if you’re part of the 3% who write down their goals, set an action plan, share that, hold yourself accountable, get started and don’t give up, you are statistically nearly 100% guaranteed to succeed.