“What are the 6 secrets to a successful life?”
Couple of months ago, I stumbled on Li Ka-Shing, a Hong Kong billionaire. He gave 6 Secrets to a successful and rewarding life and I must confess that since I began to follow his teachings, my life has improved drastically.
1. Whatever your monthly income is, divide it into five sets of funds.
Suppose your monthly income is only $2,000, you can live well. Divide it into five sets of funds: the first $600, second $400, third $300, fourth $200, fifth $500.
First set of funds ($600)
This is for living expenses. Live simple. Spend less than twenty dollars a day. Eat a basic breakfast. Have a simple set lunch and cook your own dinner.
While you are young, your body will not have too many problems for a few years with this way of living because you are still strong and adaptable.
Second set of funds ($400)
This is to expand your interpersonal circle. This will make you well off. Your phone bills should be budgeted to a minimum, say a $100. Every month, take 2 people out to lunch/dinner and pay for them; budget $150 for each.
What kind of people should you take out to lunch/dinner?
Those who are wiser and richer than you; those who have helped you along in your career; those who work harder and have bigger dreams than you.
After a year, your circle of influence would have grown tremendously. You’ll also enhance your image of being good and generous.
Third set of funds ($300)
This set of funds is for learning. You should spend about $50 to $100 in a month to buy books. Because you don’t have a lot of money, you should pay attention to learning and learn as much as you can.
When you buy a book, read it carefully and completely consume the lessons and strategies that the book offers. After reading, make sure you try to teach someone else the lessons in your own words.
Sharing with others improves your credibility and enhances the affinity. Also, studies have shown that it helps you learn the lessons better.
In addition, try to save up per month to attend a training course. Many successful people do this. For example, Warren Buffet once attended Dale Carnegie’s Public Speaking Course.
When you participate in good training, not only do you learn good knowledge, you also get to meet like-minded friends who are not easy to come by.
Fourth set of funds ($200)
Use it for holidays overseas. Go on vacay. Reward yourself by traveling at least once a year. Traveling will expose you to the world and increase your experience of life and continuous growth.
Stay in youth hostels to save cost. In a few years you would have travelled to many countries, met different people, and have different experiences. You’ll recharge yourself and have passion in your work continually – sharpening the saw, so to speak.
Fifth set of funds ($500)
This is for investing. Save the $500 in your bank and grow it as your initial startup capital for a small business.
Because small businesses are relatively safe, even if you lose money, you will not lose too much money. Go to wholesalers and look for products to sell.
However, when you start earning money, it will boost your confidence and courage and you’ll have a whole new learning experience of running a small business.
Earn more and you can then begin to buy long-term investment plans and get long-term security on your financial wealth. No matter what happens, this will be your war chest for bad times and will ensure stability.
2. Learn How To Sell
Even if your monthly income increases to say $3,000 you must still continue to work very hard. You should try to find a part time job – preferably in sales.
Sales is challenging, but it is the fastest way for you to acquire the art of selling; a crucial skill you’ll have for the rest of your life.
Moreover, businessmen everywhere need help. Offer yourself to do part time for any kind of opportunities. This will help to hone and improve your skills.
All successful entrepreneurs are good sales people. They have the ability to sell their dreams and visions.
You will also develop the sense of what sells and doesn’t, what might be a success and what won’t be.
You will start to develop eloquence and soon, you’ll be closer to your financial goals. By the second year, your income should be increased to at least $5,000.
3. The Art of Living
Life can be designed. Career can be planned. Happiness can be prepared. You should start planning now.
When you are poor, spend less time at home and more time outside. When you are rich, stay at home more and less outside.
When you are poor, be good to others. Don’t be calculative. When you are rich, you must learn to let others be good to you. You have to learn to be good to yourself better.
When you are poor, you have to throw yourself out in the open and let people make good use of you. When you are rich, you have to conserve yourself well and don’t let people easily take advantage of you.
These are the intricate ways of life that many people don’t understand. This is the art of living.
4. Be Disciplined
You do not need to be afraid of being poor, but you need to know how to invest in yourself and increase your wisdom and stature.
You need to know what is important in life and what is worth investing in.
You also need to know what you should avoid and not spend your money on. This is the essence of discipline.
A famous theory from Harvard says:
The difference of a person’s fate is decided from what a person spends in his free time between 20:00 (8 p.m) to 22:00 (10 p.m).
Use these two hours to learn, think and participate in meaningful lectures or discussion. If you persist for several years, success will come knocking on your doors.
5. Don’t Dwell On Mistakes
Whatever happened in the past is over. Do not dwell on past mistakes. There’s no point crying over spilt milk.
Everybody falls into error. When you miss opportunities, don’t dwell on it, as there are always new opportunities on the horizon.
Being able to smile when being slightly misunderstood is good upbringing. When you’re wronged and you’re calm, it is generosity.
Now you know the 6 secrets to a successful life. Will you apply them? Let us know in the comments below.