The Seven Principles of Success
A Practical Guide to Using People, Self, and Time to Your Advantage
The other day, browsing Threads, I came across a video titled "7 Rules to Become a multi-millionaire." The speaker, Chris Choi, shared seven tips that helped them become a millionaire.
Becoming a millionaire may seem like an unattainable goal, but by breaking it down into these seven achievable steps and applying them regularly, it's possible.
In this article, I have summarized the seven steps required to become a millionaire. To simplify the information, I used mental frameworks or first principles.
The seven steps outlined in this guide are categorized into three distinct areas: people, self, and time. By adhering to these steps, you will conduct yourself productively throughout your life and potentially achieve great success — and possibly — even becoming a millionaire.
These steps are designed to help you develop the skills and habits necessary to succeed personally and professionally.
By building strong relationships, developing a growth mindset, and managing your time effectively, you can position yourself for success and achieve your goals.
With dedication and hard work, you can use these steps to create a fulfilling and prosperous life.
Let's start with people. This is the first area that you need to focus on.
The Principle of People Management
The first principle of people is to be careful who you share your dreams with.
The second principle is to watch for your circle and ensure you are not the biggest fish in your pond.
Your network determines your net worth, and you are the average of the five people you spend the most time with. Therefore, you need to evaluate the people you hang out with to grow and improve.
Your environment makes up who you are. From a spiritual and esoteric perspective, you are constantly surrounded by the energies and auras of the people you interact with.
If you are on a journey of self-awareness, the five people in your circle may not be on the same path.
When you share your goals with them, their lack of self-awareness may cause them to shut down your ideas without malice.
If you want to level up and your environment is full of people who are not growing, it will be difficult for you to achieve your goals. You need a new network of individuals who have been through the same problems and challenges you face. They can provide wisdom and guidance based on their experiences, making it easier for you to level up. Your literal and energetic environment has a significant impact on your net worth.
To sum up, be careful who you tell your dreams to and watch out for your circle. Your environment affects you in more ways than you know, so you must constantly evaluate and change it to ensure you are surrounded by individuals who help you grow.
The Principle Of Self-Management
Firstly, we need to adopt new habits and rituals.
Secondly, we need to get familiar with being uncomfortable.
The next aspect that we need to consider here is related to ourselves. There are two things that we need to keep in mind when it comes to ourselves. Firstly, we need to adopt new habits and rituals.
The habits and rituals that we have followed so far have brought us to where we are today. However, if we aspire to reach the next level of our lives, we need to do something new that can take us there.
Secondly, we need to get familiar with being uncomfortable. If we want to create new rituals and habits, our bodies will likely resist them, as we tend to resist change. Therefore, we need to be comfortable with feeling uncomfortable.
What happens is that we realize this pain is a good thing.
This uncomfortability is a good thing.
This new habit that I am trying to implement is a good thing.
I follow a page called "After School" on Instagram and also watch their YouTube videos. They provide a lot of valuable insights. Recently, they shared a post about how every individual faces pain with every choice they make.
You have to choose between the pain of regret or the pain of discipline.
If you do something you're not supposed to, you'll regret it later and feel the pain. But if you do something you're supposed to, even if it's not easy, you'll feel the pain of discipline because you're pushing against the resistance.
Getting uncomfortable in life and finding peace in that discomfort is important. When you become comfortable with being uncomfortable, you become comfortable with the pain of discipline.
Knowing this is helpful when you're trying to establish new habits and rituals. You must understand that there will be some pain involved, but you need to push through it.
If we can do this for ourselves, we start to do things that take us out of our comfort zone. And as the old saying goes, fortune favors the bold. You can only be brave when you step out of your comfort zone.
The Principle Of Time Management
The first principle of time is that we should give up things that are not remunerative.
The second principle of time is making money in our sleep, which is about creating a system that doesn't necessarily need our presence.
In the following aspects of the video, the speaker discusses the two principles of time that we need to be mindful of as we take on tasks or projects. The first principle of time is that we should give up things that are not remunerative.
If we invest our attention in things that will give us a return, it is a better use of our time than investing our attention in things that do not provide us any value. We need to understand the value of our attention.
The speaker uses the analogy of Netflix, social media, and all such activities that waste our time and suggests that we should give them up because the time we spend on them is not remunerative.
The second principle of time is making money in our sleep, which is about creating a system that doesn't necessarily need our presence.
This means we must invest our time in things that will give us value even when we are not physically present.
The speaker suggests the idea of sacrifice, where giving up something like drinking or social media can serve as a reminder to stay focused and work towards something.
One of the major issues with our current society is that we often trade our time for money, leading to the never-ending rat race. This is due to our indoctrination through education, which taught us to follow this path.
Recommended Reading: The Origins Of Education
Recommended Reading: How Millennials Were Set Up To Fail
However, most successful people have realized that by taking back control of their time and attention, they could focus on what they desired, which eventually manifested for them.
This highlights the power of time and attention, and it makes us wonder if the creators of our society intentionally designed systems that consume our time and attention to serve their corporate goals.
Recommended Reading: The Cost of Paying Attention
Recommended Reading: The Secret Behind The Secret
It's important to note that we're not suggesting that one should quit their job immediately. In fact, it's quite the opposite. Money is a valuable resource that can help us make positive changes in our lives, so it's important to respect and be mindful of it.
However, we should look closer at how we spend our time and whether we're investing it in activities that pay us back spiritually, physically, and mentally.
This is where the hobbyist mentality comes into play, which I explain in detail in my article"How to Live Your Best Life."
Additionally, I discuss other productive principles in "Critical Thinking and Action Taking, Part Three."
To close on the topic of time, we need to understand the importance of knowing the objective whenever we take on a task or a project. We need to be clear about what we expect to get done and why we are doing it.
This clarity helps us make the most of our time and ensures that we invest it in things that will give us value. I plan to discuss this idea further in their upcoming article on productivity.
To Close, The Principle That Connects All
We've discussed three essential aspects of success: people, personal habits, and time. If you can manage these six things effectively, you're on your way to becoming successful and even a millionaire.
However, the seventh principle is crucial. It's living within your means. Even if you've succeeded, you must keep the principles that brought you here. You might tweak them to improve yourself, but the last rule is that you don't splurge or become gluttonous. That's breaking the very principles that got you here in the first place.
Your goal should be to live under your means to stay level-headed, aware, and in control of your success. This is the awareness piece, where self-awareness plays a crucial role.
When you've achieved success, the ego might want to take over and indulge in splurging, but there's a time and place for everything.
You can have a good time, but only if you've made time for it and understand the value of it. Don't trade off productive work that needs to be done for temporary gain or fun.
So, these are the seven principles of success that are worth considering. Your thoughts and feedback on these would be greatly appreciated. Thank you for your time, and I hope you have a productive day.
Call to Action
If you enjoyed this article, please consider taking action to show your appreciation.
You can share it with a friend, restack it, or leave a comment with feedback.
If you really enjoyed it, you can become a paid subscriber or make a small donation. Here’s three reasons why you should become a paid member.
Your support, no matter how big or how small, means a lot and is greatly appreciated.Â
Thank you and best of luck in your journey.
How To Order Book (Two Options)
If you're located in the United States and want a signed copy, you can order directly from me.
However, if you're outside the United States, you may want to consider ordering from Amazon for faster shipping and delivery — and if you have Prime as well.
I have espoused to most of these rules for the past 40+ years - Rule #7 is my "gotcha" rule...I need to relearn it this year for sure.
Thank you so much, Franklin; I always appreciate you and your perspectives!
The graphics you use in your blogs are great! Like your writing, they are intriguing and thought provoking. Well done!