So, do you want
the good or the bad news first? I’ll start with the bad news.
The bad news is
that there isn’t one single “secret” that will unlock success and nothing
is guaranteed no matter how hard you work. However, the good news is that
success isn’t a secret at all, but the cultivation of millionaire habits, a strong work
ethic, and personal paired with business intelligence and the recognition that
the harder you study and prepare, the greater your odds of success will be.
But since that
remains foreign to some people, here I will reveal some of those not-so-secret
“secrets” to success. Some may seem like common sense; others might surprise
you. But all of these things will help remove roadblocks, which can allow you
to reach your full potential.
1. Self
possession. The dictionary
defines self possession as “the state or feeling of being calm, confident,
and in control of one’s feelings; composure
.”
Basically, if you
are self possessed, you are comfortable in your own skin and confident in your
abilities. You know who you are and what you want. You have clear, specific
goals, and you know that you have the stuff that it takes to attain them…maybe
it’s not even about money for you, it’s more about having the freedom to travel
the world and start a charity like I did, whatever your goals, clearly
define them and then work your butt off every single day to actually achieving
them!
So yes, in a way,
this means that to be successful, you must “find” yourself. Really take the
time to figure out who you are and what you want: it will make the road to
success far more accessible.
2.
Flexibility. No, this doesn’t
mean you should sign up for yoga or pilates. The flexibility I’m referring to
is less about twisting your body into pretzel positions and more about
being able to switch gears on the fly.
Be willing to
explore something new, or to break out of your traditional working habits and
try new strategies in the pursuit of success. Notice the direction that the
market is taking, and be willing to go with the flow versus trying to
steadfastly hold your ground. The ability to be nimble in finance and business
is one of the true secrets to success.
3.
Self observation. The most
successful people have developed the ability to go inward. There are benefits
to doing this that go far beyond just finding oneself. The ability to self
observe means that you can view yourself realistically and learn how to play to
your strengths and diminish your weaknesses.
In looking at
yourself, be honest: what is it that you do well? Make a concerted effort to
highlight those things that you do well so that you can perform well in
business. Also be able to look at your weaknesses and bad habits. Everyone has them; the key is
to be able to identify them, so that you can take proactive steps toward
diminishing them, improving yourself, and de-emphasizing the things you aren’t
good at.
4. Successful
friends and mentors. Have you
ever heard the theory that you are the sum of the people you surround yourself
with? If that’s true (and quite frankly, it is), then choose to surround
yourself with quality, successful people.
A mentor should be among your circle of
colleagues and friends; this person can act as an invaluable resource and help
streamline your career. However, don’t stop there. Also surround yourself with
an inner circle of successful people who you want to be like. Attend networking
events and get to know people. When you make friends in high places, it will
inspire you to do better for yourself too.
5.
Learning the basics first. This
might seem painfully obvious, but the fact is that plenty of people try to
find success in business without ever taking the time to learn the basics…see my
free stock market guide here and free best-selling book here.
While sudden
success could still happen, it’s more a fluke than anything, and cannot be
counted-on. To ensure that you will attain success, like ALL of my top
millionaire and upcoming millionaire trading challenge students, take the
time needed to master the basics of finance/business FIRST. Many people win
short-term, but they’re not prepared nor setup to achieve long-term and lasting
success and that’s a mistake.
If you want to be
a trader, a good start would be to enroll in the Tim Sykes Million Challenge. As part of
this team, you’ll learn the art of trading in a supportive, informative
atmosphere from SEVERAL millionaire traders, not just me anymore as my top
millionaire trading challenge students help me
mentor other students now too, for which I’m eternally grateful. You’ll learn
the skills with a real-life emphasis that will allow you to get ahead quickly
and make consistent money.
6.
A professional workplace.
To find success as a professional, you’ve got to play the part. When you wake
up in the morning, get your mindset right, maybe even dressed up or workout and
spend some time just mentally preparing for the day. Even if your place of
business is on your smartphone or laptop, be sure that you keep your work space
organized and your files in order. Small things like this might seem trivial,
but it can really promote a professional state of mind. Plus, you won’t spend
half of your time trying to get organized as you go, which will streamline your
work in a huge way.
7. Making
peace with risk. Risk is
inherent and ubiquitous in most types of business, but particularly in trading.
You’re not going to change that, nor is there a way to totally avoid it. So why
not embrace it?
Truthfully, I
don’t know anybody who loves risk, from my Tim Sykes Million Challenge Team students
to billionaires. But to accept it and to know that risk can reap rewards can
deepen your business prowess. Knowing that risk exists, and respecting it, can
allow you to work with and around it so that it doesn’t hold you back from
attaining what you want in life…rule #1 here is to
cut losses quickly so don’t ever forget that and allow yourself to turn a small
mistake into a potentially big disaster.
8. Relaxation. To become successful, you’ve got to work 18 hours a
day and totally sacrifice your social and family life, right? Not at all. If
anything, I would urge you to work less hours and simply be smart about the
work you do.
If you work too
hard (yes, it’s a thing) you will burn out, and you might totally crash and
burn in business. This is obviously not ideal. To keep your success
long-burning and sustainable, be sure to take ample breaks and to rest and
restore often.
Perhaps a better
name for this post would have been “the not-so-secret keys to success”. Because
truthfully, there isn’t one golden ticket when it comes to finding success.
It’s more the result of careful cultivation of knowledge, habits, and business
prowess. By continuing to work on your own self improvement, you’ll find that
success is yours for the taking.
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