The 7 Strategies for Wealth and Happiness, by Jim Rohn

As we all know, Jim Rohn was a legend in the field of personal development.  The lessons he shares in his books and seminars are timeless. I discovered more than seven strategies for wealth and happiness in this book alone, and I’ll share a few of my take-aways with you.

Discipline is not usually associated with happiness.  When people talk about discipline they usually think restriction and constraint.  Jim argues that discipline is the master key to unlock wealth and happiness.  Discipline is simply a commitment from yourself to do what’s required to reach your goals.  It’s about evaluating your values and deciding to become the person you must become in order to have what you want to have.  Jim says discipline is about banishing excuses and performing at optimum levels, regardless of the hardships you may be facing at the time. 

In his best-selling book, Great by Choice, Jim Collins calls this concept “20-mile marching”.  It means that, on a daily basis, you march 20 miles towards your goals.  Whether it is hot, cold or windy - you march 20 miles.  Whether it’s stormy, sunny or snowy - you march 20 miles...  Whether you feel happy, sad or indifferent – you march 20 miles…  Discipline is commitment!

Discipline comes from motivation.  When you are motivated enough, you can accomplish anything.  When you know exactly what you want, and you want it bad enough, you will find a way to get it.  There are many paths to success.  There are just as many opportunities to build wealth.  The question is: How bad do you want it?  Start at the epicentre. And Simon Sinek would say, “Start with Why”, and the how will follow.

“Success is not about ‘having’, it’s about ‘becoming’.” Jim says it’s wise for you to set a goal to become a millionaire, not because the money, but because of the skills you’ll develop, the relationships you’ll cultivate, the leader you’ll become.”   He says once you develop the millionaire mind-set, you can give away all that money and still possess the ability to rebuild 10X that amount.

Goals are a fundamental element of happiness and wealth creation.  In fact, the desire to create wealth is a goal in itself, albeit, a vague goal that is not so compelling because it lacks clarity.

To set clear and compelling goals

you have to ask yourself the following questions:

• What do I want to do?

• What do I want to become?

• What do I want to see?

• What do I want to have?

• Where do I want to go?

• What would I like to share?

As we all know, goals fall into 3 major categories: long-term,

medium-term and short-term.  It is important to have a couple of goals in each of these categories.  Short-term goals create momentum.  They help you believe in your vision.  They help you build the required habits of success.  Long-term goals give your life a broader perspective.  They give your life direction and meaning.  Medium-term goals are guide posts, they show you if you’re moving in the right direction or not. 

They help you track progress and make adjustments where necessary.

In order to reach your goals, Jim Rohn suggests you make losing painful.  “Don’t join the easy crowd,” he says, “go where the expectations are high and the pressure to perform is high.”  This will contribute to your growth and personal development.

This is critically important for the wealth-seeker.  If you’re not growing you’re dying.  Jim Rohn says, “Income rarely exceeds personal development”.  Decide now if you’re prepared to change yourself to reach your goals.  If you’re not prepared to change your ways for the better, then you’re doomed to languish in mediocrity.  As you commit to develop the habits required to make you a successful person, “your ability will grow to match your goals”.

Remember to ask for what you want.  Most people never get anywhere because they are afraid to ask.  Asking is a very important skill. Ask any successful salesman, and they will tell you.  This sentiment is echoed by Jack Canfield, author of The Success Principles.

“Work harder on yourself than you do on your job,” advises Jim.  Manage your time efficiently.  Allocate your time to the tasks that will move you forward in the direction of your dreams.  Get your priorities straight, know the difference between a productive task and a non-productive activity.  “Don’t major in minor activities,” as Jim puts it.

To be successful, you have to pay the price of discipline, goal-setting and personal development.  This is a small price to pay in comparison to the value you will derive from practising these habits.  There’s a lot of cheap rubbish out there.  Learn the difference between cost and value.  Prioritise value and the cost will be irrelevant.

The journey to success is not straight and breezy.  It is steep, curvy and windy.  You cannot attain any significant success without a challenge.  Jim Rohn says that for things to get better in your life, you have to get better.  “Don’t wish it were easier, wish you were better.”

I will take it one step further and say, “don’t wish it were easier,

don’t wish you were better, make yourself better!”

The limitations we face include procrastination, blame and excuses.

Procrastination is a sneaky little character because you don’t realize how much time you have wasted until it is too late.  Don’t squander time. Stop counting the days, make every day count.

Blame is another limitation: take 100% responsibility for your life and your circumstances.  Stop pointing fingers, and face your fears. Tackle your challenges head on.  This is the path to true personal wealth. The life you are experiencing right now is the direct result of the choices you’ve made in the past.

Excuses are yet another limitation holding you back. 

Let me ask you a question: why are you not where you thought you would be in your life by now?  Whatever excuse you come up with in response to this question is irrelevant.  There are hundreds of people who’ve faced much worse and still came out on top.  Don’t let your laziness steal your brighter future from you.  You can change all things for the better when YOU change for the better.

Whether you end up rich or poor, the difference is not in how much money you make, the difference is in how much money you spend.  “Poor people spend their money and then save what’s left.  Usually there’s zero or a negative figure.  That’s why we have so much debt going around.  Rich people invest their money and then spend what’s left. “This is a simple philosophy that makes all the difference. 

If your outgo exceeds your income, you are in financial trouble.  This situation is what we know as debt.  It leads to depression and unhappiness.

Jim Rohn suggests you use the 70/30 formula

for wealth creation, i.e., 70% of your income will be spent

on your living expenses. 

Divide the remaining 30% among 3 purposes:

• Charitable courses;

• Capital investments; and

• Savings

This formula was also endorsed by George S. Clason

in his mammoth book, The Richest Man in Babylon.

Remember, profits are better than wages. 

Your capital investments account will help you reach

financial independence faster.

The crux of this book is that you should be happy with what you have while pursuing all that you want.  Become a person who is worthy of a million Rands.  Keeping a journal helps you to be grateful for what you have.  It allows you to savour the small, daily accomplishments.  Journaling fuels the fire you need to become a person of substance.

Plan your week before it starts.  Know your priorities for the day as soon as the day starts,  Don’t just fly in blindfolded.  Reclaim your calendar.  Learn to say NO to petty requests that don’t advance your agenda.  Make sure your priorities for the week fit in with your short, medium and long term goals.  “It is easy to become mediocre,” explains Jim, “just spend major time on minor things with minor people.”

Pay attention to the people you let into your inner-circle. 

Be selective when choosing friends and associates. 

You cannot ignore the power of influence. 

Think about your closest associates,

are they helping you to become,

achieve or acquire what you want?

What have they got you reading?

What have they got you doing?

Where have they got you going?

How have they got you feeling?

“Your time on earth is limited. 

Life is too short to spend it less than wisely. 

If you want true success, you have to be around the right people.”