If you've been following this site for any length of time, you know that Coral and I are probably happiest when we are on the water. I unfortunately didn't really get introduced to boating or wake boarding until I was about 23 (which is already old-man status in that arena). One thing I've learned about the water in my short time there is that the percentage of successful people is HIGH.
One reason: Boating is not cheap haha.
Don't get me wrong – for every millionaire or walking success story that I've met out on the water, there are plenty of people that have financed their way onto the lake. It's really that way anywhere. You can't tell how successful people are by looking at the crap they own or wear. It's just not possible in today's finance everything world.
I want to be clear – the list I'm about to share is about “normal” success stories. I'm not talking about billionaires or mega mega mega millionaires…I don't really know anyone quite like that (yet). I've learned these from normal people that killed it in their careers, started their own successful businesses, retired early, etc. 🙂
5 Things I've Learned about Successful People
1. They fail…a lot
This one should maybe say that they take calculated risks often and they don't always work out. Whether it was starting businesses that ultimately flopped or trying out a different investing strategy that wasn't as awesome as they had hoped, they were at least TRYING SOMETHING. That's such an important thing that I'm trying to impress on all of you lately.
With every failure you are one step closer to awesomeness.
2. They know money CAN buy happiness (hear me out)
I was hanging out on my good friend's Sea-Ray 460 ([email protected]$$, BIG boat), and I mentioned that money doesn't buy happiness. His response changed my view on that completely. He said: “Money by itself can't buy happiness, but it can buy or produce things that make you happy”.
I.E. – Early retirement, a boat, nice house, vacations, financial security, etc., are a piece of happiness that kicking @$$ with your money can bring (would love to hear everyone's thoughts on this in the comment section).
3. They Shamelessly Self-Promote
There is nothing wrong with being humble, but if you're humble to the point that nobody knows what the hell you can do, you're doing yourself a disservice. One thing I've noticed about successful people is that it doesn't take too long to figure out what makes them great at what they do. Either they will talk about it, or the people they know will do it for them.
4. They know how to sell
The reality is that if you want to make money, you generally need to learn how to sell products or your own skills to progress in your career. I'll take myself as the perfect example here: I suck at selling in the “traditional” way. Maybe it's because I can't BS very well or something, but I'm definitely not extroverted or high-energy enough to be a salesperson.
However – I DID have to learn to sell on this site and with my marketing services via the internet. I just found a way to do it that I enjoy. 🙂 If you have a normal job, you have to learn to sell your skill set and show why you are a producer instead of a consumer at your company.
5. They don't rely on “luck”
I just want to mention this really quickly – if you are someone who sees/meets a successful person and thinks “eh, they just got lucky”…you've already freaking lost or will very soon. The smartest people I know look at success stories and try to find value instead of a blueprint.
Remember that.
Unless they won the lottery, a successful person's luck is the point where opportunity and preparation meet. Period. Stop it with that luck nonsense.
This is just a small sample
In my opinion, there are a ton of factors that go into making someone a “success”. What I have tried to do is very closely observe how these people act, and then apply it to my own projects and life. I feel pretty confident that my online business will be successful because of it (and some could argue that it already is).
The biggest takeaway should really be this: find a mentor. Put yourself in a position to be around successful people as often as possible and listen closely. Ask questions. Learn. If you can't find those people in your area, you're always welcome here. 🙂
About Millennial Money Man
Bobby Hoyt is a former band director who paid off $40,000 of student loan debt in 18 months on his teaching salary and then left his job to run Millennial Money Man full-time. He helps other Millennials earn more through side hustles, save more through budgeting tools and apps, and pay off debt. He is a personal finance expert who has been seen on Forbes, Reuters, MarketWatch, CNBC, International Business Times, Business Insider, US News, Yahoo Finance, and many other personal finance and entrepreneurship media outlets.
Comments
The Green Swan
I agree, successful people tend to fail occasionally along their path to success, but I think the key worth mentioning is that they learn from their failures and do better next time. I’ve been turned down or turned away countless times during my career, but I learn from it and keep trying. Never give up!
Also, completely agree with your friend regarding happiness.
Thanks for the post!
Millennial Money Man
They either learn and get better, or just realize they totally suck at that venture and move on to something else! A lot of people waste time trying to be great at something they’re not.
Taylor
I agree that you always need to be selling, and I am glad you found an avenue to sell that you are comfortable with. Most people think of selling as picking up the phone and “dialing for dollars”. However, I view selling as building relationships and networking with people. Once you begin establishing more relationships, you can start to grow your network and hopefully your business.
Millennial Money Man
That’s kinda how it works with blogging too! Build trust and a good reputation, and then people are more likely to buy products or services that you recommend. Takes a ton of time. I’ve tried to do sales calls and sales meetings. Just not my thing…I don’t know how to BS for that long haha.
Des @ Half Banked
YESSSSSS omg I had the money-can-kind-of-buy-happiness conversation the other day with a friend who was feeling bad that he was considering financial stuff when it came to dating. I am very much of the opinion that while sure, just having money can’t make you happy, it can make a lot of things in life easier, which can remove stress / add happiness. It’s a big factor, and something to at least consider!
Millennial Money Man
For sure! It’s such an interesting topic. I’ve gotta admit, when my wife and I are out on our boat….we’re pretty damn happy haha!
Mimi
This blog was right on target! I think the man that started Honda had around 27 failed businesses before his success. Life is about being persistent in your endeavors.
The sales thing always bothered me, too. I don’t like to seem “pushy”, but when we started our business I realized I was “selling” something and my mindset changed. Instead of fearing that I was annoying someone or being pushy on something someone didn’t want, I viewed it as helping others. Helping them decide that they wanted MY product or service. It’s all in the perception.
And last but certainly not least; MONEY CAN FREE UP YOUR ANXIETY SO YOU CAN LIVE LIFE TO THE FULLEST – THUS HAPPY!!!!!!!!! I have been rich and I have been poor, and rich is a much happier way to go through life’s struggles. Life can be a series of struggles and victories, and having financial security makes both better.
Millennial Money Man
Love this comment! There’s even a ton of failures within your business. I can’t tell you how many times I’ve had sponsorships or projects for this site fall through, but it’s all about the big picture. If you’re growing – all is well! 🙂
Christa Szabo
Oh I agree! I feel that “money can’t buy happiness” statement is a thing of the past. In my experience, the people who I’ve known to say that statement use it to make themselves feel better about their financial situation and almost gives them a reason to not educate themselves. But maybe that’s only my experience.
But I was really happy to see the first thing you posted. I’ve tried starting my own food business for a really long time. I even just had to shut down my Etsy shop because the state law prohibits selling food items online from your house. So, instead, I’m going all out!! I’m taking everything I’ve learned and am trying to open a bakery in my town! I’m working on a business plan, talking to my local alderman about zoning and am planning on marketing on social media and going door to door with old school flyers! (In this part oc the country, a lot of people don’t have internet access). If it works, which it will lol, fantastic!! If not, well I know I’ll have learned a lot and just apply that to my next endeavor. Thanks for the amazing articles! They really are inspiring!
Millennial Money Man
Wow Christa, congrats! If at first you can’t succeed….try again 🙂 If you ever need help with social media strategy – let me know!!!!
Financial Panther
Very true on knowing how to self promote and sell! I struggle with this myself…I’m a pretty humble guy and really don’t want to look like a braggart, but at the same time, you have to market yourself as well, whether it’s a job, business, or anything else. No one else will do it for you, after all. Key is probably to self promote and sell without looking like a jerk. It’s a fine line!
Millennial Money Man
It is a fine line! I’m the same way, I have a hard time talking about stuff that is going well for me, but I force myself to do it. Like you said – if I don’t talk about it…who will?
Millennial Moola
Just look at a guy like Trump. Never invented anything useful. Never built anything that’s particularly special. Just promotes the hell out of himself and sells sells sells. Somehow he gets multimillion dollar deals to put his name on hotels he has nothing to do with
Millennial Money Man
#Brandpower haha
Ace Tully
“I DID have to learn to sell on this site and with my marketing services via the internet” Do you have a post about this or could you tell us what resources you used to improve your skills?
Millennial Money Man
I’ll have a REALLY good recommendation in Monday’s post.
Stephanie
Hi Bobby! I encountered your blog some months ago and I must confess I find your story captivating. I commend you and your wife for what you’re doing: being courageous enough to fight for the life you genuinely want.
I started working as a Secondary school teacher quite recently but I’d love to be a millionaire someday too… In the meantime, I’m trying to destroy my student loan as soon as possible before moving into investing and saving as if there were no tomorrow. I know my goal is quite a challenge but I want to think I’m also able to make it happen.
Thanks for all your invaluable advice and best of luck for the future!
Millennial Money Man
Wow Stephanie thanks so much for the kind words! Glad you found the site. Keep me posted on your loans and let me know if I can give some tips. 🙂
FinanceSuperhero
Excellent observations all around. I used to find wildly successful people to be mysteries wrapped in enigmas, but it really can be distilled down into broader points like these.
Recently, I read that a majority of successful people also do two other important things consistently:
1. Rise at least 3 hours before leaving for work
and
2. Work out or otherwise exercise every day
Millennial Money Man
Yeah I’m still not doing #2, although I have no reason for NOT doing that. I’ve always depended on my super fast metabolism…but we all know what happens to that haha.
Ryan
“Your so lucky!” is a phrase people use to make themselves feel better about their lack of success.
Selling and self-promoting is not something that’s coming naturally to me either but I’m getting there.
Millennial Money Man
Yeah it was a little weird for me at first, but I’ve definitely found that I’m way better at selling online than I am in person haha!