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15 Differences Between Successful and Highly Successful Individuals

15 Differences Between Successful and Highly Successful Individuals

Quick question: What really differentiates the successful individual who seems to be getting along fine from the highly successful individual who’s in the media all the time?

Is it the extra work they put in which the other person just couldn’t do? Or perhaps it’s the connections the highly successful person has?

After following some of the highly successful people in my industry, I’ve come to discover that while the difference between them and the successful ones may not be so evident, there’s that thin line that separates them.

Highly successful people have different priorities, unique perspectives and better ways of doing things. They don’t become different people, but they become better than just being successful.

Here are 15 things that most people do that highly successful people don’t:

1. They have an inner drive for accomplishment

They love being active and getting things done. But their activity oftentimes leads them to taking on more than they can chew – They also have an inner drive for excellence.

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All successful people are determined to work harder and get things done. However, they try as much as possible to only get the right things done because they understand prioritization and goals.

2. They have great teams to help them with their goals

But because of their drive, they often tend to expect over delivery from their teams.

Highly successful individuals not only gave great teams but know how to relate well with them. They can communicate their thoughts and intentions very well. They understand that the well-being of their team members contributes immensely to their success. So they have empathy while also delivery results.

3. They try to accomplish a ton of work in as little time possible

Even if it means extending the day to 30 hours, they’d love it. For this reason, they tend to be too focused on work and neglect the other important things in life.

Highly successful people understand that their time is very precious. They also understand that apart from work, their relationships are valuable. So they create time to spend with the important people in their lives while at the same time making good use of the 24 hours they have available. They know the importance of having down time and rest.

4. They tend to talk a lot about themselves

In any gathering, they would be the ones handing out business cards and trying to set up meetings.

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Highly successful people on the other hand look for key relationships in that gathering they could form. They don’t try to be everywhere, but lock in specific relationships that could greatly contribute to their success.

5. They understand that difficulties are part of every business

Highly successful individuals also understand this, but are very careful in handling them. Twice a year, Bill Gates would go into seclusion for a whole week alone, thinking up new ideas and finding better ways to solve problems. Then he would return to Microsoft with genius innovations that even the successful people in the company would be amazed by.

6. They are passionate about what they do and pursue their goals with determination and zest

Highly successful individuals also have passion as a backbone, but are careful to direct that fire in the right direction. Passion has a way of making you want to do many things at once. Highly successful people understand this and fuel their passion with care.

7. They try to please as many people as possible, so they tend to say yes to almost everything

Highly successful people understand that pleasing everyone could be detrimental to their personal goals. So ‘No’ is often part of their vocabulary and they only say ‘Yes’ to activities and causes that are aligned with their goals, whether it is learning a new skill, building quality relationships or just having a good time.

8. They understand the importance of learning and look for new avenues.

The highly successful individuals learn from everything including their mistakes and those made by others. They understand the negative effect of complacency and strive to learn something new every day, even if it’s from just walking the dog down the street.

9. They sometimes like to be heard and that’s okay

Highly successful individuals prefer to listen first before speaking. They listen to the people around them to get the unsaid ideas and tips. They only speak once they have a full grasp of what is being talked about or when they have immense value to share. To them, silence is golden in specific situations.

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10. They love to work and don’t necessarily see the importance of other activities where work isn’t involved

Highly successful individuals know the importance of taking care of themselves. They understand that they are the only ones who can achieve their goals. So they include things like exercise, meditation and adequate sleep to their routine.

11. They are very confident in themselves and in what they do…

But this confidence doesn’t stop them from comparing their level of success with others.

Highly successful individuals don’t give room for self-consciousness or comparison. They’re confident in what they do and understand that’s the only way other people can be confident in them. They’d rather be the benchmark than make someone else the benchmark.

12.  They often monitor and get obsessed with competition

They always want to know what the competition is doing so they can do it better.

Highly successful individuals are more focused on themselves and aren’t worried about what the competition is doing. Instead, they think about what they can do differently.

13. They take negative criticism to heart…

but not the highly successful ones. They welcome criticism because it helps them grow and achieve their goals.

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14. They want to see the results of their efforts fast, so they work really hard to make that happen

The highly successful individuals understand that delayed gratification is an important ingredient of success. They understand that success doesn’t happen overnight and so have the patience and perseverance to wait.

15. They tend to take the bulk of their work on themselves perhaps due to lack of personnel or finance

The highly successful individuals are very resourceful. When starting a new business, they’re able to acquire the money or the personnel required to make their dreams a reality.

What are your thoughts on these difference between successful and highly successful individuals?

Featured photo credit: Petras Gagilas via flickr.com

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Last Updated on January 6, 2021

14 Ideas on How to Measure Productivity to Make Progress

14 Ideas on How to Measure Productivity to Make Progress

Everyone has heard the term productivity, and people talk about it in terms of how high it is and how to improve it. But fewer know how to measure productivity, or even what exactly we are talking about when using the term “productivity.”

In its simplest form, the productivity formula looks like this: Output ÷ Input = Productivity.

For example, you have two salespeople each making 10 calls to customers per week. The first one averages 2 sales per week and the second one averages 3 sales per week. By plugging in the numbers we get the following productivity levels for each sales person.

For salesperson one, the output is 2 sales and the input is 10 sales: 2 ÷ 10 = .2 or 20% productivity. For salesperson two, the output is 3 sales and the input is 10 sales: 3 ÷ 10 = .3 or 30% productivity.

Knowing how to measure and interpret productivity is an invaluable asset for any manager or business owner in today’s world. As an example, in the above scenario, salesperson #1 is clearly not doing as well as salesperson #2.

Knowing this information we can now better determine what course of action to take with salesperson #1.

Some possible outcomes might be to require more in-house training for that salesperson, or to have them accompany the more productive salesperson to learn a better technique. It might be that salesperson #1 just isn’t suited for sales and would do a better job in a different position.

How to Measure Productivity With Management Techniques

Knowing how to measure productivity allows you to fine tune your business by minimizing costs and maximizing profits:

1. Identify Long and Short-Term Goals

Having a good understanding of what you (or your company’s) goals are is key to measuring productivity.

For example, if your company’s goal is to maximize market share, you’ll want to measure your team’s productivity by their ability to acquire new customers, not necessarily on actual sales made.

2. Break Down Goals Into Smaller Weekly Objectives

Your long-term goal might be to get 1,000 new customers in a year. That’s going to be 20 new customers per week. If you have 5 people on your team, then each one needs to bring in 4 new customers per week.

Now that you’ve broken it down, you can track each person’s productivity week-by-week just by plugging in the numbers:

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Productivity = number of new customers ÷ number of sales calls made

3. Create a System

Have you ever noticed that whenever you walk into a McDonald’s, the French fry machine is always to your left? 

This is because McDonald’s created a system. They have determined that the most efficient way to set up a kitchen is to always have the French fry machine on the left when you walk in.

You can do the same thing and just adapt it to your business.

Let’s say that you know that your most productive salespeople are making the most sales between the hours of 3 and 7 pm. If the other salespeople are working from 9 am to 4 pm, you can potentially increase productivity through something as simple as adjusting the workday.

Knowing how to measure productivity allows you to set up, monitor, and fine tune systems to maximize output.

4. Evaluate, Evaluate, Evaluate!

We’ve already touched on using these productivity numbers to evaluate and monitor your employees, but don’t forget to evaluate yourself using these same measurements.

If you have set up a system to track and measure employees’ performance, but you’re still not meeting goals, it may be time to look at your management style. After all, your management is a big part of the input side of our equation.

Are you more of a carrot or a stick type of manager? Maybe you can try being more of the opposite type to see if that changes productivity. Are you managing your employees as a group? Perhaps taking a more one-on-one approach would be a better way to utilize each individual’s strengths and weaknesses.

Just remember that you and your management style contribute directly to your employees’ productivity.

5. Use a Ratings Scale

Having clear and concise objectives for individual employees is a crucial part of any attempt to increase workplace productivity. Once you have set the goals or objectives, it’s important that your employees are given regular feedback regarding their progress.

Using a ratings scale is a good way to provide a standardized visual representation of progress. Using a scale of 1-5 or 1-10 is a good way to give clear and concise feedback on an individual basis.

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It’s also a good way to track long-term progress and growth in areas that need improvement.

6. Hire “Mystery Shoppers”

This is especially helpful in retail operations where customer service is critical. A mystery shopper can give feedback based on what a typical customer is likely to experience.

You can hire your own shopper, or there are firms that will provide them for you. No matter which route you choose, it’s important that the mystery shoppers have a standardized checklist for their evaluation.

You can request evaluations for your employees friendliness, how long it took to greet the shopper, employees’ knowledge of the products or services, and just about anything else that’s important to a retail operation.

7. Offer Feedback Forms

Using a feedback form is a great way to get direct input from existing customers. There are just a couple of things to keep in mind when using feedback forms.

First, keep the form short, 2-3 questions max with a space for any additional comments. Asking people to fill out a long form with lots of questions will significantly reduce the amount of information you receive.

Secondly, be aware that customers are much more likely to submit feedback forms when they are unhappy or have a complaint than when they are satisfied.

You can offset this tendency by asking everyone to take the survey at the end of their interaction. This will increase compliance and give you a broader range of customer experiences, which will help as you’re learning how to measure productivity.

8. Track Cost Effectiveness

This is a great metric to have, especially if your employees have some discretion over their budgets. You can track how much each person spends and how they spend it against their productivity.

Again, this one is easy to plug into the equation: Productivity = amount of money brought in ÷ amount of money spent.

Having this information is very useful in forecasting expenses and estimating budgets.

9. Use Self-Evaluations

Asking your staff to do self evaluations can be a win-win for everyone. Studies have shown that when employees feel that they are involved and their input is taken seriously, morale improves. And as we all know, high employee morale translates into higher productivity.

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Using self-evaluations is also a good way to make sure that the employees and employers goals are in alignment.

10. Monitor Time Management

This is the number one killer of productivity in the workplace. Time spent browsing the internet, playing games, checking email, and making personal calls all contribute to lower productivity[1].

Time Management Tips to Improve Productivity

    The trick is to limit these activities without becoming overbearing and affecting morale. Studies have shown that most people will adhere to rules that they feel are fair and applied to everyone equally.

    While ideally, we may think that none of these activities should be done on company time, employees will almost certainly have a different opinion. From a productivity standpoint, it is best to have policies and rules that are seen as fair to both sides as you’re learning how to measure productivity.

    11. Analyze New Customer Acquisition

    We’ve all heard the phrase that “It’s more expensive to get a new customer than it is to keep an existing one.” And while that is very true, in order for your business to keep growing, you will need to continually add new customers.

    Knowing how to measure productivity via new customer acquisition will make sure that your marketing dollars are being spent in the most efficient way possible. This is another metric that’s easy to plug into the formula: Productivity = number of new customers ÷ amount of money spent to acquire those customers.

    For example, if you run any kind of advertising campaign, you can compare results and base your future spending accordingly.

    Let’s say that your total advertising budget is $3,000. You put $2,000 into television ads, $700 into radio ads, and $300 into print ads. When you track the results, you find that your television ad produced 50 new customers, your radio ad produced 15 new customers, and your print ad produced 9 new customers.

    Let’s plug those numbers into our equation. Television produced 50 new customers at a cost of $2,000 (50 ÷ 2000 = .025, or a productivity rate of 2.5%). The radio ads produced 15 new customers and cost $700 (15 ÷ 700 = .022, or a 2.2% productivity rate). Print ads brought in 9 new customers and cost $300 (9 ÷ 300 = .03, or a 3% return on productivity).

    From this analysis, it is clear that you would be getting the biggest bang for your advertising dollar using print ads.

    12. Utilize Peer Feedback

    This is especially useful when people who work in teams or groups. While self-assessments can be very useful, the average person is notoriously bad at assessing their own abilities.

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    Just ask a room full of people how many consider themselves to be an above average driver and you’ll see 70% of the hands go up[2]! Now we clearly know that in reality about 25% of drivers are below average, 25% are above average, and 50% are average.

    Are all these people lying? No, they just don’t have an accurate assessment of their own abilities.

    It’s the same in the workplace. Using peer feedback will often provide a more accurate assessment of a person’s ability than a self-assessment would.

    13. Encourage Innovation and Don’t Penalize Failure

    When it comes to productivity, encouraging employee input and adopting their ideas can be a great way to boost productivity. Just make sure that any changes you adopt translate into higher productivity.

    Let’s say that someone comes to you requesting an entertainment budget so that they can take potential customers golfing or out to dinner. By utilizing simple productivity metrics, you can easily produce a cost benefit analysis and either expand the program to the rest of the sales team, or terminate it completely.

    Either way, you have gained valuable knowledge and boosted morale by including employees in the decision-making process.

    14. Use an External Evaluator

    Using an external evaluator is the pinnacle of objective evaluations. Firms that provide professional evaluations use highly trained personnel that even specialize in specific industries.

    They will design a complete analysis of your business’ productivity level. In their final report, they will offer suggestions and recommendations on how to improve productivity.

    While the benefits of a professional evaluation are many, their costs make them prohibitive for most businesses.

    Final Thoughts

    These are just a few of the things you can do when learning how to measure productivity. Some may work for your particular situation, and some may not.

    The most important thing to remember when deciding how to track productivity is to choose a method consistent with your goals. Once you’ve decided on that, it’s just a matter of continuously monitoring your progress, making minor adjustments, and analyzing the results of those adjustments.

    The business world is changing fast, and having the right tools to track and monitor your productivity can give you the edge over your competition.

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    Featured photo credit: William Iven via unsplash.com

    Reference

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