How To Be Successful

March 05, 2021

Observing countless founders, I've discovered that many initially seek wealth, but eventually seek impact. Here are the 13 keys to extraordinary success.

To begin, comprehend the power of compounding. Aim for exponential growth in your career, just like a rapidly expanding business. Avoid linear career paths where your years of experience do not improve your effectiveness significantly.

Aim for higher returns with each step of your career. To accomplish this, capitalize on capital, technology, brand, networks, and people management.

Second, develop self-belief. It is not a matter of ignoring criticism, but of having the courage to hold opposing views. Self-belief should be balanced with self-awareness. Listen to criticisms, assess their validity, and decide whether or not to act on them.

Third, learn to think for yourself. It is difficult to teach original thinking. Develop it by reasoning from first principles and coming up with new ideas. Learn to quickly test these ideas in the real world.

Fourth, improve your sales abilities. You must persuade others of your beliefs. A compelling vision, strong communication skills, and charisma are required. Believe in what you're selling and work to improve your sales skills on a regular basis.

Fifth, make it simple to take risks. The majority of people overestimate risks while underestimating rewards. Once your basic needs are met, place small bets that, if successful, could yield huge returns.

Sixth, concentrate. Working on the right thing is more important than working long hours. Once you've determined your priorities, stick to them with tenacity.

Seventh, put in a lot of effort. Combine smarts and hard work to become truly exceptional in your field. Working hard early in your career is the best time to do so because the benefits will compound over time.

Eighth, be daring. Work on something exciting and worthwhile. Instead of second-guessing your goals, follow your curiosity.

Ninth, be determined. Believe in your ability to effect change. Be persistent and patient in your quest for good fortune.

Tenth, make yourself difficult to compete with. Develop personal relationships, a strong personal brand, or expertise in multiple fields to gain leverage.

Eleventh, create a network. As much as you can, assist others and be generous in sharing the benefits. Create a reputation for pushing people to achieve more than they thought possible.

Twelveth, recognize that wealth is derived from ownership rather than high salaries. Invest in assets that are likely to appreciate quickly, such as businesses, real estate, or intellectual property.

Finally, be self-motivated. Do things to impress yourself and to fulfill your desire to make a difference in the world. The most successful people I know are motivated by their own standards and ambitions, not by others' expectations.

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Written by Phong Tran who lives and works in Tokyo building useful things. You can follow him on Twitter

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