ONE single habit that I’ve witnessed more wealthy people practice than anything else .. what would that be?
Obviously, this is a tough question to answer, because there are a number of important things that go into creating success and wealth. Some are extremely obvious – almost too obvious to even mention – while others are counter-intuitive, and not what most people would ever believe to be true.
However, after watching myself in a variety of situations as well as thousands of other entrepreneurs and business owners, I’ve come to the conclusion that there really is one critical habit that stands above virtually everything else when it comes to creating success in your life.
Here it is.
“Think and Grow Rich“, originally published in 1937, was one of the most influential books ever published on the subject of performance and personal development. In that book, which remains a relevant guide to prosperity, Napoleon Hill outlined 13 Principles which he found to be responsible for the success of 500 of the world’s top business icons and leaders.
And one of those principles, I believe, holds the keys to determining what level of success you will achieve in your lifetime.
And that principle is ..
The Power of Making a Decision
Hill found that
all of the most successful people in the world had the habit of making swift and committed decisions. And once made, they were slow to reverse decisions they had made.
They gathered the necessary information, and moved forward quickly with a decision. Even in times when they didn’t have all the information they needed, that wasn’t used as an excuse to delay making that decision for a future day. The belief seems to be, better to make a decision with some information, than to make no decision at all.
The reverse of this is also true — people who never achieve much success or wealth in their life are often the types of people that avoid making decisions, and end up cultivating a different, but deadly, habit .. that of
procrastination.
Of course, those who make swift decisions aren’t always right or correct. Mistakes sometimes are made, and in hindsight, a decision made wasn’t the correct one. But over time, the fact that someone makes a LOT of decisions means that they’ll make a lot more correct decisions than not. In other words,
the incorrect decisions are far outweighed by the decisions that move them forward to success.
Why is it making swift, firm decisions is such a scary thing for so many people?
Here’s another way to look at what a decision really means.
Decision = Commitment
And therein lies the problem.
When you make a decision, you are
making a commitment towards one choice, and usually eliminating one or many more other choices that you could have made.
In fact, when you look at the origin of the word
decision, it comes from the Latin root,
“de-cisio” which essentially means “
to cut off all alternatives.”
In other words .. most people subconsciously look at making a decision as removing choices or options they’ve got.
And as human beings .. we like choices. We like options. We like flexibility.
But our human instincts to crave alternatives actually keep us from making a commitment, and deciding to proceed on a specific path or choice.
But here’s the mean trick that our brain plays on us — we think we’re “not” making a choice when we procrastinate .. “I’ll decide that tomorrow” .. but in
reality procrasination is a choice in itself!
When you procrastinate you’re actually making the decision NOT to make a decision.
That’s a decision that has consequences.
If your life isn’t where you want it to be right now, a primary reason I can guarantee for that is that you are not making the decisions and choices that need to be made.
Do you find yourself procrastinating a lot?
Do you find it difficult to make decisions?
The truth is, most people do. The world today is filled with uncertainty, unpredictability, and for a lot of people, life is a “moving target” that makes it more difficult to be 100% sure of the decisions you make.
So with all of this change and uncertainty in our lives, how do you make the best choices for yourself to move ahead?
Ah. The million dollar question.
While there’s no easy answer, what I’ve found very powerful in my own life is using my
Personal Core Values as the primary decision tools when I’m facing a decision I’m not clear about.
When I’m trying to determine what path to take with something, and the path isn’t lit up for me already, then I choose based on my Core Values. They’re like a lantern in the darkness, allowing me to see the steps that I need to take.
Let me give you a simple example. With my business partner
Kourosh, we have a lot of different ventures and businesses operating within our little world. Over time, we’ve been forced to decide where to spend our energy and focus, since we can’t be all things to all people.
One of the key decisions was, do we continue to grow and expand our real estate portfolio, or do we focus more energy on growing our training and coaching business?
That’s the kind of decision that I could spin around with for years, being able to come up with good reasons and arguments on both sides of the fence.
So, over the past year or so, I conciously sat down and thought about what the best decision would be to make, taking my personal Core Values into account.
When I did that, I realized that the training and coaching business would be better serving my Core Values than the real estate business. I love growing and learning, and contribution is a key value for me. Helping entrepreneurs achieve freedom and be accountable were all important elements of the training business.
Our training and coaching business allows us to impact people in a more personal and life-changing way, and give us more of the “juice” that gets us excited to do what we do.
As it turns out, I’m lucky because Kourosh’s Core Values are similar to mine, and are also served by this decision.
As a result,
we’ve simplied our business, and have
allowed ourselves to become more involved in the things that we love doing, and where we think we’re
adding a lot more value to people’s lives. This doesn’t mean we aren’t doing real estate any more — but we now are clear on where we’re headed, and more importantly,
WHY.
So if you struggle with making decisions and you’re a “professional procrastinator”, I suggest you get real with the true consequences of your inaction, and then look to your own Core Values to help guide you.
And remember, making a decision is making a commitment .. so make a commitment to move yourself closer to success and wealth by practicing to become a better decision maker!
Post a comment and let me know what you think — how do you overcome procrastination, or are you struggling right now?
What did this post make you think, and did it cause you to make a realization?
I’d love to hear from you so please post and share below!]]>
51 Responses
Wow! This is the word for the day. It is forcing us to take a deeper look at ourselves and make a decision for change. Aaah… that hurts!
I quite agree on decision making. Sometimes, some projects are put on hold by me because there is not enough information to go forward and as a result remain pending. I think that procrastination often gets a bad rap because it is viewed primarily through other people's judgment. Our decisions based on core values will not necessarily align with what others think we should do and hence the perception of procrastination.
I personally experience this on a regular basis from the ones closest to me. These sometimes are really challenging.
thanks for the insight!
Greg I think that you are correct in this being the most important principles for success. Once described to me another way, "Ready, Aim, and Fire" or a thought turns into a plan and then put the plan into action. The commitment to "fire" and stay with your original plan is very difficult at times, as I have found numerous times, but staying with the plan eliminates all of the intermediate procrastination that shows up once the plan is in action. Good posting, thanks.
great topic. My coach did a study of multi-millionaires and one common trait that all had was they said their success comes from 80% inner game or the mental outlook on themselves and businesses and 20% was just the tech of the business.
People procrastinate out of fear also. In other words what if I make the wrong decision? What would people think? Would I lose money? etc. So they put off making any decision. I would rather have someone make a decision, take action, and adjust as they go along. Henry Ford once said, "Failure is the only opportunity to start over more intelligently." Failure gives you feedback as to what is not working so you can correct it and make it better. Don't be afraid to fail. Take it as feedback as Thomas Edison did with the light bulb. Make a decision to move forward with what you want. Decide on what you want as clarity always comes first, then make a decision on taking action and how to proceed. Make a plan and implement. Thanks for the great topic Gary.
Keith Young
Greg,
This is awesome. I'm going to post the link on my Facebook Page right now.
I love the point that it's not only about being quick to make a decision, but it's also about being slow to change. Stay the course. Very nice.
Thanks for a great article! 🙂
Great stuff Greg! Over the last couple of years, I've been pushing myself to make more decisions. The results? Sometimes they turn out to be the right ones, sometimes the wrong, but in the end I am learning more, and getting more done, and the forward momentum I have created within myseld seems to be unstoppable. Here's a quote from Miles Davis I heard recently that has stuck with me, and since it seems on topic I thought I would share it:
"Don't fear mistakes… there are none"
To me it means, make decisions quickly and turn your actions into a state of flow. Don't dwell on mistakes, rather turn them into "learning lessons" and keep on, keepin' on. You'll be far more inline with, as you've coined them, you're core values. And you'll put yourself one step closer to achieving your goals.
Great stuff Greg!
In my professional life, I've worn many hats: art gallery owner, school teacher, resort real estate sales and marketing, sales team training, and most recently owner of a facial spa and wellness centre. In each case I've had one thought and focus……..I have a job to do…..what do I need to do to get that job done with the best results for those on both sides of the equation….and then I just get at it and don't look back.
Greg,
It kind of goes back to what Garrett Gunderson talks about, soul purpose. I've found that the more in touch with my soul purpose and the why of my life, the clearer the image of what I should be doing on a daily basis.
Thanks for your wisdom. It's a good reminder that the choice to live on purpose is a daily choice and requires conscious decisions on a daily basis.
Oh my, my husband and I are supreme wafflers! We waffle back and firth between doing and not doing so much we are in a constant state of having lots of plans and never getting anything done! Bad enough to have one int the family, but two, holly cow it can be a hard road to hoe!
We both recently made a REAL commitment to change our lives and the first thing we did was hire a coach. It has been great so far.
Tank you so much for the excellent insight!
Tanya,
I am at the point where I believe a coach would be a good option for me. How did you go about finding one you felt had the right skills and was going to work for you?
Jill, have you found your coach yet? If not, I might be able to help you. You are right in trying to find the right "fit". You can contact me at [email protected] with any questions you have. First meeting is free! My niche is Personal Growth and Relationship Coaching.
While I have often heard the advice that one should not burn their bridges behind them, I have found this to be a powerful technique in my business. You cannot fail if you cannot backtrack. There is only one direction that you can follow and that is onward and upward. Once you take this approach, your life will never be never be the same.
Thanks for another great post Greg! I always look forward to reading your valuable content.
How I overcome procrastination is having a great accountability partner(s). My wonderful wife and my business partner both help me stay focused. I find as long as I keep MOVING then everything else works out. This doesn’t mean that I get everything right but it helps me be consistent.
Thanks again!!!
"…we now are clear on where we’re headed, and more importantly, WHY." was your statement, Greg, that caught my greatest attention. I have another book that I was almost ready two months ago to publish — an easy decison at that point based on my experience with publishing two other books this past summer. But then I signed up for your "The Authority Formula" course. And I realized that I should take more time to become very clear about where I am headed — by being sure that I know exactly what my market wants. So my decisiveness on that book has waivered — or, at least, been put on "pause" — while I continue with The Authority Formula (TAF). And I eagerly anticipate getting that clarity through your TAF course in the coming weeks so that I have new, stronger clarity about my next book, including what should be in it and how I position it. Thank you, Greg, for challenging us!
I agree with your perspective entirely. If I was honest with myself, procrastination plays a role in my life, especially when I feel overwhelmed. You're right, making a decision is much better than making no decision, even if it's the wrong decision. We just need to correct and go on. Great information, thanks!
Greg,
Connecting decision making to individual core values is a wonderful insight. I have always been quick to make decisions, for better or worse, and have always been annoyed by people who seem incapable of making any decision. Looking at my core values that were calculated earlier this month, I now know why people who cannot make a decision have bothered me so much.
I always love your content and added value-Thank you-Angela
Greg,
I am big believer in the power of Decision. And while seeing it as the end of other options does at times lead people to choose procrastination instead, ultimately it's the greatest Power one has to create the life they really want.
I call it "burning the boats." Once one truly chooses a direction there is no turning back. This, in and of itself, guarantees eventual success.
I also like your guidance in regards to making decisions that will serve the advancement of your best self (and the best world along with it) through use of Core Values. Without them we are like high sea explorers setting out on a cloudy night with no navigation tools.
Life is all about options, what we choose within those limitless possibilities creates the world we live in everyday.
To a committed life!
Very useful as always. I find as a garden designer I am by taking on a contract forced into a decision,then when problems come up, by being in the moment,using intuition and honesty, with myself & my client problem solving becomes effortless. I have made a decision to start a new holistic centre without funding in place,but by making concios choices & problem solving along the way, I feel sure this will be a success. Thanks Gregg, what you have to say encourages me I am going in the right direction.
Sending this comment is about the only thing I have not procrastinated lately. I must say – Yes, I definitely struggle with procrastination. I found this information useful. This reinforces one of the pillars of sound management. I once was tasked with taking over the management of a non-producing group of very green, very young salespeople. They were immobilized by procrastination and fear of failure. Out of frustration and last-ditch desperation I coached them to "get out there and make mistakes as fast as possible". It shook things up and the best of them quickly rose to the challenge. They really did not make that many mistakes and their activity level in all respects increased enormously. I will do well to remember the message communicated here as well as my own words from 20 years ago. Thanks, eh.
3 years is a long time to be procrastinating the things i've tried havn't worked so have come to the realisation I need help! Icould give up but I know there's a way..
Hi Greg,
Thanks for your insight. As a psychologist I think the biggest problem is that many people are fearful. You may ask why and they do have the answer if they think or find it buried under a lot of years. I worked with people that started out with one reason and after a few sessions +HYPNOSIS came up with the real reason. You asked and important question, continue to ask them. Doris Lee McCoy….
"When you procrastinate you’re actually making the decision NOT to make a decision."
What a powerful way of looking at procrastination. Something that used to plague me and rob me of my potential. Very powerful article!
Thanks Greg – great post!
Procrastination is what I would call "the easy way out". As you say, it's a decision in its own right NOT to do something. It takes great discipline to keep moving and to continue making decisions. As the saying goes: "what's easy to do, is also easy not to do". Making decisions can be scary at the best of times. However, I believe that making a decision will keep the positive energy flowing and it will continue to propel your business foward.
Running a business is a huge learning curve at its best however, if you're up for the challenge, it will be a rewarding process on so many different levels!
Keep up the great work!
thanks for this simple but correct assesment of my circustance. Most often I hesistate,nay, procrastinate because I do not want to offend someone,I shall address the problem straight away. Thanks once more. Theo
I felt so" at home with these words" really. I have been that committed decision maker and although I have had some success I do not as of yet have the level of success I require to live a life of wonder and financial security.
But your words helped me to understand to stay on the path…keep making decisions, but now with compassion based on my core values.
Greg,
This is a very good read.
I am a very indecisive person and it drives me nuts. I know this is the root of procrastination and very detrimental to my success and goals in life. In fact this I am sure is the reason that I have soooo many goals. With so many goals I freeze up with the decision of which way to go first. It is good to have reminders like this to snap me to attention and make me more aware again.
I am going to print this out and hang it somewhere for when I need a tune up in my decision making.
Thank You
HI Greg,
I don't generally hestiate in making decsions but I want to thank you for the reminder about making decsions based upon my core values. I have recently been doing some work to clarify my core values, so your message is very timely for me. I am in the process of change (as always) and have several difficult decsions to make. I am grateful for your efforts and support.
I just can't decide what comment to write….
This is so correct… I too examined my core values several months ago – after attending the last Engage 2010 presentations, thank you Greg and Kourosh.
Prior to attending I was looking for ways to grow my real estate business. The presentations forced me to take a good look at my real talents and core values.
I have now found a project that is authentic to my values, allows me to stretch my creativity and is a worthwhile endeavour. Yes, I still have real estate but this is now relegated to being an investment not a business I am wanting to grow anymore.
I am now much happier and much more aware of how I can contribute to the world. This feels good to me and it will be successful because it is the right decision for me. Procrastination is not an option when you are doing something that you love.
Hey there Greg,
As always you know what to say and how to say it. I've procrastinated for most of my life but thanks to a lot of the training I learn from you, I have discovered my personal core values and have begun to pursue the passion surrounding them.
However, I have never procrastinated on commitment – choosing a path and having the courage to make mistakes along the way. I now bring this experience to the table when I talk with investors and life clients…more people need to read these articles and be able to adapt it into their own lives to make a true change.
Thanks for keeping up with all your insight…I'm always learning from you.
Hi Greg,
Your article was spot on and for me it brought up the question: “if not me, then who?”
If I choose not to make the decision, then someone else will. Time and procrastination will ensure that your over thought out decision will be someone else’s influence in the end. So do look at YOUR core values in your decision making and accept that even if it didn’t pan out , at least you won’t have the added stress of regret!
Wow! So obvious but such an eye opener! Thank you for that little "slap in the face". I needed that!
What a great post!…This article helped me to think how I am making all my decisions, and now I will use my core values in case I don´t have all the information needed to make a good and timely decision.
Thanks for share this tips with us, people who wants to be financial freedom!!.
Sincerely, Maria P.
Colombia, Latinoamerica.
My New Year resolution is already been formed as the decision to give and receive a deeper sense of gratitude for all that life has to offer. And I will keep in mind as 2011 arrives to keep an open mind and heart to sticking to the power of your advice today Greg. Thank You and a very Happy Thanksgiving to you and yours.
Hi Greg,
I believe the single best skill set would be an Entrepreneur’s ability to always be nimble and ready to deal with any changes that occur.
Hi John – the ability to adapt and change is important, but making the decision to be so, and then to put it into action, is what really matters!
Wow, I am amazed at the simplicity of change and complexity of choices. Congrats on your decisiveness.
Reminds me of the article on disappointment. To negate what has been appointed. Internally, this feeling can be devastating. Usually associate with someone else’s behavior, internally still belong to us as individuals. If we know our core values, and have a written constitution, we can look at how we betray the very appointments given to us from inside ourselves. Without constitution all we have is declaration after declaration. Once declaration has been made and constitution is establish we have to review ours bills, bills being debts, our debts of right. Where will we ‘spend’ our time. What will we tolerate, and will ask others to conform to our own constitution? Perhaps each sovereign unit has it’s own constitution which defines it’s future actions. Without written constitution it’s hard to accept that person, entity or title as sovereign, therefore unequal and disappointing. To see others negate there own appointed position, to watch them make declaration after declaration and still not understand that their own constitution, their own bill of rights determines their own sovereignty. To make a decision it is best to have choices, to have choice equal hope, to have earnest hope, one needs honesty. I appreciate your honesty and thanks for your post.
Thank you Greg for your article.Very nice and usefull for me.I appreciate that you are working and follow up your suggestions,thanks again.Anita
Hey Greg,
To be successful in life and business, we have to make decision,
to take action, to get out from the comfort zone ,
to be persistent and dedicated to the goal.
Great post Greg! I have to be honest and say I have struggled with procrastination many times and I have come to realise that most of the time when I procrastinate it's because my priorities are different to most people. For example I have 2 children (11 and 13). Most mothers with children my age are employed. I on the other hand am blessed with a husband who earns enough to provide for our needs and I have chosen to define myself as a Professional Mother. When people suggest that I could work while my children are at school my reply is "Yes but I would have less time to make sure my head is in a good space to be the loving mother I choose to be and I couldn't volunteer in the community in the same way. I feel more appreciated by this kind of work than I ever have in paid employment."
Congratulations on clarifying your future path and thank you for a post that I felt validates mine too.
Great article. I will be on my way to pick up this book today as I have not read it yet. I like the line at the end – “making a decision is making a commitment .. so make a commitment to move yourself closer to success and wealth by practicing to become a better decision maker!” – I made that commitment 4 months ago with one goal in mind. 3 Months in and I achieved it! I just reset my goal and I keep going.
MY question is, how do you figure out what your core values are? How does, for eg, a core value such as "integrity" or "my loved one's happiness" help me make a business decision?
Drelle, your business drives a lot of the outcomes you get in your life, which are all affected by your values. You asked how does "my loved one's happiness" affect your business decisions. Well, what is required in order for your loved ones to achieve happiness? Have you ever asked them? Is it spending more time with you? Is it knowing you will spend their birthday with them? Is it knowing you'll have dinner every Sunday together? The point here is that once you understand what that requires, you can then build your business AROUND that outcome. If you know that Sunday dinner is critical, you would then set the boundary for yourself that you wlll never miss Sunday dinner, and you will schedule anything related to your business around that time. The bottom line is that you make business decisions that support your core values, instead of making decisions randomly or without considering your values.
Your comment " I love growing and learning, and contribution is a key value for me, speaks to my heart and values. Clarifying our core values is a must for life and business! We make choices all day long but do we make conscious choices that align with our core values? When we do all our decisions move us forward toward our goals.
Thanks, that is true. "Procrastination" is a decision to not make a decision. I think to avoid this, always write down –date, time and the decision we make in the diary, and read the dairy everyday to check –decision made and to check if timely action is taken. If action is taken, write down the steps of action taken. Plan and write the more steps and time needed to complete the project.//
Hi, I am a “professional in procastination” Everything you just have said above in this article is
about me. I yhink I haven´t had a true commitment with my self.
I am stucked…ou really made me think.
By the way, this is the first time I read you, and of course, answer you.
Have a nice day,
María
Greg
You are correct. I see so many clients who know all the theory, have studied the markets for years and just haven’t done anything.
And they wonder why they are not rich
The insight and punch for me was the latin root of the word: “to cut off all alternatives.”
That was great as I have a creative mind and consider many alternatives to be ones that can work. “This can work” I say to my self… okay… but we still haven’t made a decision. Hmmmm it begs the question to myself… “hows that working for you?!” Thank you Greg for the insight. My challenge to myself is to embrace the “cutting off of all other alternatives.” Thank you.