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Published on January 27, 2020

8 Daily Habits of the Successful People (Which Are Rare)

8 Daily Habits of the Successful People (Which Are Rare)

I wrote an article on how to stop bad habits. The aim was to help you enhance your creative thinking, productivity, and establish a work-life balance as well as achieve mental health.

However, once you have broken bad habits, there is a need for you to learn and imbibe the habits of the successful people, which the rest of the world doesn’t have. This is crucial as it will propel you to superstardom and guide you on the road to success. But first, you must define what success is to you.

To some, it is making more money, getting promoted at work, or becoming more influential. While to others, success is learning as well as upskilling, making progress on a career and in business.

As soon as you are clear on the definition of success, it is crucial to learn and practice the habits of successful people.

Here are 8 daily habits of the successful people:

1. Read Extensively

One common habit most successful people possess can be found in the library. Have you found a leader who does not read? Every reader leads. Reading is one of the notable habits of the successful people.

P.J Worsfold, the head of product division for FTSY or footsy, an AI-powered platform that matches people to shoes that properly fit them said he spends an hour after dinner to digest information about relevant industries, pop culture, and current events.

Reading is an avenue to sneak peek into the minds of great and successful individuals, visit locations that you may never reach physical and improve yourself in every aspect of life.

2. Work Out

Bill Gates founded Microsoft and he is one of the wealthiest individuals on the planet. He has given charitable courses via the Bill and Melinda Gates Foundation.

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So what does Bill Gates do daily that the rest of the World is not doing?

He was known to work out on the treadmill back in 2008 after waking up. He combines that with watching videos from the Teaching Company series of Great courses according to a report by the Business Insider.[1]

Every successful people knows that it takes a great body to hold a strong mind. Success requires mental fitness.

Tom Carley, in his book, Change Your Habits, Change Your Life, stated that 76 per cent of the rich population exercise for a minimum of 30 minutes daily. Most of them attribute their success and happiness to physical fitness.

Mark Zuckerberg is a 35 years old billionaire with a worth of over $72 billion. He says,[2]

“I ensure I work out at least three times every week-first thing in the morning.”

3. Eliminate Fear

Fear is a great threat to success. You cannot achieve remarkable results without courage.

Do you know Warren Buffet used to be afraid of public speaking to the extent that he fell ill and even talked about it in an interview? He was anxious about delivering speeches in high school and during his university days. He revealed that he dropped out of a course on public speaking and avoided presenting by all means and at all costs.

So how did Warren overcome his fear of public speaking and won an award of completion of the course?

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Here are Warren Buffet’s habits on gaining your confidence in public speaking.

  • Take small steps to improve.
  • Re-frame your nerve endings as a positive reaction to opportunities.
  • Rehearse like it’s the real deal

He took a teaching position, having completed his public speaking course to maintain his posture or risk drifting backwards.[3]

4. Never Give Up

Successful people understand that tough times expire. When you hear the names of successful people like Jack Ma, the founder of Alibaba and Elon Musk, you may not believe they went through a hard time.

Musk was not only bullied at school, but he was also fired from Paypal. Yet, he was not discouraged. His company, Tesla, recently became the most valuable company in America as it is now $2.1billlion richer according to Forbes.[4]

Harvard rejected Jack Ma for about ten times as his idea of escrow payment was not accepted. He was also rejected as a job candidate at KFC. Yet, he became one of the wealthiest personalities in China and the world.[5]

Here’s a takeaway from me:

“If you find yourself in a trying situation, you may change your goals, but you must not give up. Every success story comes with sacrifice. Never give up!”

5. Stay Hungry, Stay Foolish!

When Steve Jobs and Steve Wozniak started what would be known as Apple today in his parents’ garage, nobody knew that the giant step of 1976 would become formidable and relevant in this century. A significant setback for Steve was when the board of directors forced him out of his company in 1985 as they did not believe in his Mackintosh idea.

He slept on the floor during his tough times, and he exchanged coke bottles for meal tickets at a local Hare Krishna temple. His focus was on his vision.

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By 1985, he founded NEXT and Pixar Animation Studio in 1989 with his co-workers and friends. By 1997, Apple was about to file for bankruptcy. Jobs was invited for the negotiation of purchasing NEXT and this led him to return as the CEO of Apple. The company regained profitability in less than a year. He shared his success habit at the Stanford University Convocation Speech in 2005- Stay Hungry, Stay foolish.[6]

6. Jot Down Notes

You could imagine the jam-packed schedule of Bill Gates. Notwithstanding, he keeps track of every idea and plan by jotting down notes. Another successful billionaire that shares the same habit is Richard Brandson. Richard is a heavy note-taker. Richard and Gates both spoke at a conference in London.

While Gates was making the closing remark, he pulled out some pieces of paper from his pocket. The notes were scribbled on some paper he had kept in his pocket, according to Richard Branson. Richard attributed the habits of the successful people to this simple habit of jotting down notes.[7]

7. Plan Every Minute

Bill Gates is one of the posters for success when it comes to time management. Telegraph reported that he broke his schedule into five minutes intervals.

And guess what? Elon Musk, the founder of Tesla and SpaceX, does the same. Every minute is carefully planned. He does not believe in procrastination. He shared the same philosophy on time management with Warren Buffet:

“Time is the only asset that money can’t buy.”

You can buy all the assets in the world but you can’t purchase more time. Successful people have the habit of making every minute count.

So let’s talk about you! Do you leave the next thing for later? Do you do what comes by, or you have your time scheduled?

Bill Gates and every successful people maximize their time.[8]

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“Anything that wastes your time wastes your golden opportunity to become successful.”

8. Share

Sharing includes charitable giving or sharing of ideas. Giving is another common habit that most successful people have in common. They understand the significance of giving. They believe that:

“Life is not in duration, but a donation.”

Bill and Melinda Gates, Mark Zuckerberg, Oprah Winfrey and Serena Williams are some of the successful givers. Recently, Serena ended a three years title drought and donated her winnings of about $43,000 to the victims of Australia fire.[9]

You don’t need too much money before you can donate, you can start with what you have. You can volunteer to teach orphans or provide help for communities recovering from a volcanic eruption in the Philippines.

An impact should be a result of success and not only wealth accumulation.

The Bottom Line

Habits, be it good or bad, are what make or mar the success of any individual. If you want to become successful, you only need to break the bad habits and reinforce the habits of the successful people that I have shared so far so good.

It takes consistent effort and routine to succeed. It may require more skills and consistent practice, but success is inevitable.

More Habits of Highly Successful People

Featured photo credit: Austin Distel via unsplash.com

Reference

More by this author

Leon Ho

Founder & CEO of Lifehack

Learning Methods to Help You Learn Effectively and Easily How to Take Advantage of the 80 20 Rule to Succeed in Life How to Find a Sense of Purpose to Live a Full Life How to Set Professional Development Goals for Success Social Learning How Social Learning Helps You Learn Faster and Easier

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Last Updated on September 30, 2020

Effective vs Efficient: What’s the Difference Regarding Productivity?

Effective vs Efficient: What’s the Difference Regarding Productivity?

When it comes to being effective vs efficient, there are a lot of similarities, and because of this, they’re often misused and misinterpreted, both in daily use and application.

Every business should look for new ways to improve employee effectiveness and efficiency to save time and energy in the long term. Just because a company or employee has one, however, doesn’t necessarily mean that the other is equally present.

Utilizing both an effective and efficient methodology in nearly any capacity of work and life will yield high levels of productivity, while a lack of it will lead to a lack of positive results.

Before we discuss the various nuances between the word effective and efficient and how they factor into productivity, let’s break things down with a definition of their terms.

Effective vs Efficient

Effective is defined as “producing a decided, decisive, or desired effect.” Meanwhile, the word “efficient ” is defined as “capable of producing desired results with little or no waste (as of time or materials).”[1]

A rather simple way of explaining the differences between the two would be to consider a light bulb. Say that your porch light burned out and you decided that you wanted to replace the incandescent light bulb outside with an LED one. Either light bulb would be effective in accomplishing the goal of providing you with light at night, but the LED one would use less energy and therefore be the more efficient choice.

Now, if you incorrectly set a timer for the light, and it was turned on throughout the entire day, then you would be wasting energy. While the bulb is still performing the task of creating light in an efficient manner, it’s on during the wrong time of day and therefore not effective.

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The effective way is focused on accomplishing the goal, while the efficient method is focused on the best way of accomplishing the goal.

Whether we’re talking about a method, employee, or business, the subject in question can be either effective or efficient, or, in rare instances, they can be both.

When it comes to effective vs efficient, the goal of achieving maximum productivity is going to be a combination where the subject is effective and as efficient as possible in doing so.

Effectiveness in Success and Productivity

Being effective vs efficient is all about doing something that brings about the desired intent or effect[2]. If a pest control company is hired to rid a building’s infestation, and they employ “method A” and successfully completed the job, they’ve been effective at achieving the task.

The task was performed correctly, to the extent that the pest control company did what they were hired to do. As for how efficient “method A” was in completing the task, that’s another story.

If the pest control company took longer than expected to complete the job and used more resources than needed, then their efficiency in completing the task wasn’t particularly good. The client may feel that even though the job was completed, the value in the service wasn’t up to par.

When assessing the effectiveness of any business strategy, it’s wise to ask certain questions before moving forward:

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  • Has a target solution to the problem been identified?
  • What is the ideal response time for achieving the goal?
  • Does the cost balance out with the benefit?

Looking at these questions, a leader should ask to what extent a method, tool, or resource meets the above criteria and achieve the desired effect. If the subject in question doesn’t hit any of these marks, then productivity will likely suffer.

Efficiency in Success and Productivity

Efficiency is going to account for the resources and materials used in relation to the value of achieving the desired effect. Money, people, inventory, and (perhaps most importantly) time, all factor into the equation.

When it comes to being effective vs efficient, efficiency can be measured in numerous ways[3]. In general, the business that uses fewer materials or that is able to save time is going to be more efficient and have an advantage over the competition. This is assuming that they’re also effective, of course.

Consider a sales team for example. Let’s say that a company’s sales team is tasked with making 100 calls a week and that the members of that team are hitting their goal each week without any struggle.

The members on the sales team are effective in hitting their goal. However, the question of efficiency comes into play when management looks at how many of those calls turn into solid connections and closed deals.

If less than 10 percent of those calls generate a connection, the productivity is relatively low because the efficiency is not adequately balancing out with the effect. Management can either keep the same strategy or take a new approach.

Perhaps they break up their sales team with certain members handling different parts of the sales process, or they explore a better way of connecting with their customers through a communications company.

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The goal is ultimately going to be finding the right balance, where they’re being efficient with the resources they have to maximize their sales goals without stretching themselves too thin. Finding this balance is often easier said than done, but it’s incredibly important for any business that is going to thrive.

Combining Efficiency and Effectiveness to Maximize Productivity

Being effective vs efficient works best if both are pulled together for the best results.

If a business is ineffective in accomplishing its overall goal, and the customer doesn’t feel that the service is equated with the cost, then efficiency becomes largely irrelevant. The business may be speedy and use minimal resources, but they struggle to be effective. This may put them at risk of going under.

It’s for this reason that it’s best to shoot for being effective first, and then work on bringing efficiency into practice.

Improving productivity starts with taking the initiative to look at how effective a company, employee, or method is through performance reviews. Leaders should make a point to regularly examine performance at all levels on a whole, and take into account the results that are being generated.

Businesses and employees often succumb to inefficiency because they don’t look for a better way, or they lack the proper tools to be effective in the most efficient manner possible.

Similar to improving a manager or employee’s level of effectiveness, regularly measuring the resources needed to obtain the desired effect will ensure that efficiency is being accounted for. This involves everything from keeping track of inventory and expenses, to how communication is handled within an organization.

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By putting in place a baseline value for key metrics and checking them once changes have been made, a company will have a much better idea of the results they’re generating.

It’s no doubt a step-by-step process. By making concentrated efforts, weakness can be identified and rectified sooner rather than later when the damage is already done.

Bottom Line

Understanding the differences between being effective vs efficient is key when it comes to maximizing productivity. It’s simply working smart so that the intended results are achieved in the best way possible. Finding the optimal balance should be the ultimate goal for employees and businesses:

  • Take the steps that result in meeting the solution.
  • Review the process and figure out how to do it better.
  • Repeat the process with what has been learned in a more efficient manner.

And just like that, effective and efficient productivity is maximized.

More on How to Improve Productivity

Featured photo credit: Tim van der Kuip via unsplash.com

Reference

[1] Merriam-Webster: effective and efficient
[2] Mind Tools: Being Effective at Work
[3] Inc.: 8 Things Really Efficient People Do

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