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5 Traits Of The World’s Richest Man, Bill Gates

5 Traits Of The World’s Richest Man, Bill Gates

If you’re searching for a great role model of ultimate success, you can’t find better than Bill Gates. Microsoft, the organization he established, made an entire industry. With a net worth of almost $80 billion, he is the wealthiest man on the planet. His charitable and humanitarian activities reach far and wide and have really made the world a better place.

What prompted Gates’ success? Being an incredibly smart engineer and successful businessman, he certainly was in the perfect spot with the right idea for a product. Throughout the years, he has shown some traits and habits that led him towards a sustained success in his business and philanthropy. Bill has certainly laid out a long list of lessons for anyone looking for motivation or a guide to success. Whether you are searching for someone to invest in your company, paying off your mortgage, or even finding a new career, there are many lessons that we can learn from Bill Gates.

Here are some of the most desirable traits of Bill Gates, which anyone can develop.

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1. Learn to say “no”

Gates received this advice from Warren Buffett, and it is very valuable for everyone. Regardless of how ambitious or eager you are, everyone has 24 hours in a day, and the difference between the successful and the unsuccessful is determined by the way they spend those 24 hours. Nobody knows the importance of saying “no” better than the richest man in the world, who, in an interview, repeated the words of his friend Warren Buffett: “You have to be good at saying no.” He elaborated that saying no allows you to focus on the things that really make a difference.

2. Embrace your critics

“Embrace bad news to learn where you need the most improvement,” Gates wrote about the importance of negative feedback in his 1999 book Business @ the Speed of Thought. Despite the fact that it’s never pleasing to hear negative feedback, complaints and dissatisfaction allow you to learn and do better in future.

“Your most unhappy customers are your greatest sources of learning,” he wrote.

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Certainly, there will be situations where some criticism will not be useful and you have to use your judgment to tell the difference. Keeping this in mind, the next time someone criticizes you, don’t walk away or curse them. Stay, listen, thank them, and learn.

3. Be optimistic

It can be difficult to be optimistic in a world where lots of things seem to be going in the wrong direction. To be successful, one needs to believe in optimism, because without it, not a single person would ever start a business, invest in a new idea, or test a new product or market.

Bill Gates escalates the great value of optimism, and since his social work aims at some of the most depressing problems in our world, such as poverty, sex trafficking, lack of education, etc., he needs a lot of optimism.

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“Optimism is often dismissed as false hope,” he said in a Stanford commencement speech in 2013. “But there is also false hopelessness.”

4. Be judgmental about your success

“Success is a lousy teacher, it seduces smart people into thinking they can’t lose,” Bill Gates wrote this in his book The Road Ahead.

A product which is a successful item today could wind up obsolete tomorrow, he explains. That is what exactly happens to old desktop computers and Windows operating systems.

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You might find successes more pleasurable than failures, but failures teach you the most and give you the best chances to cultivate.

5. Measure your progress

In a letter from the Bill and Melinda Gates Foundation, Bill Gates penciled some lessons from the history of the steam engine.

“You can achieve amazing progress if you set a clear goal and find a measure that will drive progress toward that goal,” he wrote. “Finding the right goal and the right metric for tracking one’s progress is surprisingly difficult.”

Setting and achieving goals will become easier when you have a yardstick to measure your progress, and you have the best chance of success when you track the progress you’re making toward your goals.

Featured photo credit: Exploring Markets via flickr.com

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Tayyab Babar

Tayyab is a PR/Marketing consultant. He writes about work, productivity and tech tips at Lifehack.

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Last Updated on March 31, 2020

How To Break the Procrastination Cycle

How To Break the Procrastination Cycle

How often do you find yourself procrastinating? Do you wish you could procrastinate less? We all know how debilitating procrastination can make us feel, and it seems to be a challenge we all share. Procrastination is one of the biggest hindrances to moving forward and doing the things that we want to in life.

There are many reasons why you might be procrastinating, and sometimes, it is really difficult to pinpoint why. You might be procrastinating because of something related to the past, present, or future (they are all intertwined), or it could be as simple as biological factors. Whatever the reason, most of us follow a cycle when we procrastinate, from the moment we decide to do something to actually getting it done, or in this case, not getting it done.

The Vicious Procrastination Cycle

For some reason, it helps to understand that we all go through the same thing, even though we often feel like the only person in the world who struggles with this. Do you resonate with the cycle below?

1. Feeling Eager and Energized

This is when you commit to taking a new action or getting something done. You are feeling confident and optimistic that, this time round, you will do it!

2. Apprehension Starts to Come Up

The beginning stages of optimism are starting to fade. There is still time, but you haven’t done anything yet, and you start to feel uneasy. You realize that you actually have to do something to get it done, and that good intentions are not enough.

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3. Still No Action

More time has passed. You still haven’t taken any action and probably have a lot of excuses why. You start to panic a little and wish you had started sooner. Your panic starts to turn into frustration and perhaps even irritability.

4. Flicker of Hope Left

You can still make it; there is a little time left and you ponder how you are going to get it done. The rush you get from leaving your task until the last minute gives you a flicker of hope. There is still time; you can do this!

5. Fading Quickly

Your hope starts to quickly fade as you try desperately to understand why you just can’t do this. You may feel desperate and have thoughts like, “What is wrong with me?” and “Why do I ALWAYS do this?” You feel discouraged, or perhaps angry and resentful at yourself.

6. Vow to Yourself

Once the feeling of anger or disappointment disappears, you most likely swear to yourself that this will never happen again; that this was the last time and next time will be different.

Does this sound like you? Is the next time different? I understand the devastating effect that procrastination has on many lives, and for some, it is a really serious problem. You also have, on the other hand, those who procrastinate but it doesn’t affect them in any way. You know whether it is affecting you or not and whether it undermines your results.

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How to Break the Procrastination Cycle

Unless you break the cycle, you will keep reinforcing it!

To break the cycle, you need to change the sequence of events. Here is my suggestion on how you can effectively break the vicious cycle you are in!

1. Feeling Eager and Energized

This is when you commit to taking a new action or getting something done. You are feeling confident and optimistic that, this time round, you will do it! The first stage is always the same.

2. Plan

Thinking alone will not help; you need to plan your actions. I always put my deadlines one or two days in advance because you know Murphy’s Law! Take into consideration everything that you need to do, how long it will take you, and what you will need to get it done, then plan the individual steps.

3. Resistance

Just because you planned doesn’t mean that this time is guaranteed to be different. You will most likely still feel the resistance so expect this. This stage is key to identifying why you are procrastinating, so when you feel the resistance, try to identify it immediately.

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What is causing you to hesitate in this moment? What do you feel?  Write them down if it helps.

4. Confront Those Feelings

Once you have identified what could possibly be holding you back, for example, fear of failure, lack of motivation, etc. You need to work on lessening the resistance.

Ask yourself, “What do I need to do to move forward? What would make it easier?” If you find that you fear something, overcoming that fear is not something that will happen overnight — keep this in mind.

5. Put Results Before Comfort

You need to keep moving forward and put results before comfort. Take action, even if it is only for 10 minutes. The key is to break the cycle and not reinforce it. You have more control that you think.

6. Repeat

Repeat steps 3-5 until you achieve what you first set out to do.

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Final Thoughts

Change doesn’t happen overnight, and if you have some deeper underlying reasons why you procrastinate, it may take longer to finally break the cycle.

If procrastination is holding you back in life, it is better to deal with it now than to deal with the negative consequences later on. It is not a question of comfort anymore; it is a question of results. What is more important to you?

Learn more about how to stop procrastinating here: What Is Procrastination and How to Stop It (The Complete Guide)

Featured photo credit: Luke Chesser via unsplash.com

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