Tag: personal growth

The John Maxwell Rule of 5

John Maxwell, renowned for his insights into leadership and personal development, proposed the Rule of 5, a strategy that focuses on performing five specific actions every day to achieve success. When applied to building wealth through your career, this approach not only fosters sustained growth but also ensures that your daily actions align with your long-term financial goals. Here, we adapt Maxwell’s Rule of 5 to the context of wealth building, providing a strategic framework to help you maximize your career potential.

1. Every day is unique and full of opportunity:

Recognize that each day brings its own set of opportunities and challenges. Approach every morning with a mindset geared towards seizing opportunities that align with your career and financial goals. Whether it’s networking, learning a new skill, or taking on a challenging project, ensure that you are always on the lookout for ways to advance professionally and increase your market value.

2. Decide who you want to be:

Your professional identity is central to your career development. Decide on the kind of professional you want to be known as—be it a thought leader, a go-to expert in a specific field, or a transformative leader. This identity should guide your decisions and actions. For instance, if you aim to be recognized as an industry expert, dedicate time each day to deepen your expertise through study, practice, or teaching others.

3. Decide how you want to live:

Your lifestyle choices have a direct impact on your ability to build wealth. Make deliberate choices about spending, saving, and investing. Create a budget that reflects your career goals and financial aspirations, and stick to it diligently. Remember, the way you manage your money today dictates the financial freedom you will enjoy in the future.

4. Decide what you want to achieve:

Goal setting is crucial. Define clear, measurable career goals that contribute to your wealth-building journey. These might include salary targets, investment milestones, or business objectives. Break these down into annual, monthly, and daily goals to maintain a clear view of what you need to do each day to move closer to these benchmarks.

5. And never give up:

Persistence is key in any long-term endeavor, particularly when it comes to building wealth. There will be setbacks and failures along the way, but resilience is a critical component of success. Keep pushing forward, learn from your mistakes, and stay committed to your goals. Regularly review and adjust your strategies to stay aligned with your evolving career and life circumstances.

Rule of 5

The 95:5 Rule

The 95:5 rule

Have you heard of the 95:5 Rule? Based on research by Professor John Dawes, this rule states that at any given time, only about 5% of buyers are actively in-market for a particular product category. The remaining 95% represent future buyers who will enter the market when the need arises.

But what does this have to do with your career? Turns out, quite a bit.

Think of your career journey like a long hike. At any given point, you’re actively exploring a small number of opportunities – maybe 5% of what’s out there. These could be new roles within your company, a promotion you’re chasing, or skills you’re actively developing. This is your “in-market” 5%.

However, the vast majority of potential paths are not yet on your immediate radar. They represent the 95% of future possibilities that will become relevant as your circumstances and goals evolve over time. Just like a hiker can’t see the entire trail at once, you can’t pursue every career option simultaneously.

To make the most of the 95:5 Rule in your career:

  1. Actively invest in the 5% – Give your full energy to the opportunities you’re currently pursuing. Whether it’s crushing your current role, learning a new skill, or interviewing for a dream job, be “in-market” with gusto.
  2. Keep an open mind to the 95% – Don’t get tunnel vision. Keep scanning the horizon for new possibilities, even if you’re not ready to pursue them yet. This could mean attending industry events, growing your network, or simply staying curious.
  3. Trust in the journey – Just like a hiker has faith that the trail will open up new vistas, trust that your 95% of future possibilities will become clearer with each career step. Each role, project, and connection is shaping your path.
  4. Regularly reassess – As the “in-market” 5% shifts, periodically reevaluate your career priorities. Are you still energized by your current focus? Is it time to bring some of that 95% forward into active exploration? Pausing for self-reflection keeps you agile.

By embracing the 95:5 Rule in your career, you can balance active pursuit with open-minded exploration. Focus on the most impactful 5% while trusting that the 95% will continue to reveal new opportunities as you grow. Your career hike may be long and winding, but it’s all part of the adventure.

The RIDE methodology

Ever feel like your dreams are trapped behind a wall of obstacles, both seen and unseen? You’re not alone. But what if those obstacles could be transformed into stepping stones? The RIDE methodology unlocks the secret: Reflecting on your deepest desires, Investigating your blockers, Doing practical tasks for progress, and Elevating your future self. This infographic is your roadmap to self-improvement, showing you how RIDE can pave the way to a fulfilling future.

R: Reflect on Your Inner Compass Before embarking, pause and ask, “What truly matters to me?” Like Anna, who dreamt of becoming a renowned author, identify your burning desire. This, like Anna’s moment of clarity, is your guiding star. Remember, Lao Tzu reminds us, “The journey of a thousand miles begins with one step.” Yours starts with identifying your destination.

I: Investigate Your Inner Dragons No hero slays the dragon without understanding it. Here, face your “dragons” – those self-doubts, fears, or limiting beliefs that hinder your progress. Michael, a talented musician, discovered his dragon was stage fright, rooted in past failures. Only by acknowledging and confronting this fear could he conquer his stage and shine. Remember, as the Zen proverb says, “Obstacles do not block the path, they are the path.” Use them to grow stronger.

D: Do the Daily Dance of Progress Dreams are beautiful, but action is the bridge to reality. Divide your journey into small, actionable steps, like laying stones across a river. Sarah, who yearned to run a marathon, broke her goal into daily runs, gradually increasing the distance. Each step, like Sarah’s, is a victory, building strength and turning dreams into achievable goals. Channel Pablo Picasso’s wisdom: “Action is the foundational key to all success.” Take action, one step at a time.

E: Elevate Your Future Self Imagine your future self, successful and thriving. This vision, like John’s dream of leading his own startup, becomes your wind in the sails. It propels you forward, even through storms. Abraham Lincoln said, “The best way to predict your future is to create it.” So create your future, one step at a time.

The RIDE is More Than a Map, It’s a Philosophy RIDE isn’t just a strategy, it’s a way of life. Reflecting gives direction, investigating empowers you to overcome, doing builds momentum, and envisioning propels you forward. Remember, the journey itself holds the beauty, the growth, and the discoveries. As Ralph Waldo Emerson said, “Life is a journey, not a destination.” Embrace the RIDE, dear adventurer, and transform your path into a journey of endless possibility.