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"It takes as much energy to wish as it does to plan."
Eleanor Roosevelt
Take a moment to close your eyes and think about what your definition of âwealthâ is. Have you got something in mind?
To me, wealth is freedom. Specifically, freedom of choice. When we're financially independent, we can structure our day exactly how we like and we have the means to fully experience life. It also offers the resources to contribute to the causes we care about, say, helping to find a cure for a disease that may have impacted your family.
Many people, sadly, have a negative connotation of wealth. Itâs completely up to you to create your own definition, but I urge you to ensure itâs written in the positive. Reframing your mindset is one of the most fundamental steps in transitioning to being a financial winner.
Yet, we donât teach this in schools.
Wealth does not guarantee youâll be free of problems. In fact, for many people, building wealth creates a whole host of new problems because their same bad habits are just amplified. However, if youâve got the right blueprint, wealth is an enormously powerful force for good in your family, your community, and the world.
With an idea of what wealth looks like to you, take another moment to think about what "lifestyle" you want. A lot of people over-complicate personal finance, but all weâre essentially doing is thinking about what life we want to live and then setting up the pieces that are going to enable us to enjoy that lifestyle.
Simple, right?
So close your eyes and fast forward to 5, 10, 20 years down the track: What does your ideal life look like?
Can you vividly describe your house, and where you are? Who are the people youâre enjoying it with? In that moment, what is making you the happiest?
Like with any worthy endeavor, we get the best results by beginning with the end in mind. With that foundation, let's explore some proven strategies you can immediately apply to achieve financial independence and become a financial winner.
We see this with every goalâpeople have the best intentions, always promising to âget around to it' but never do. Make the commitment to start now:
If youâre not willing to make personal finance a priority, none of the other steps will help you. As the Chinese Proverb says: âThe best time to plant a tree was 20 years ago. The second best time is now.â
If you can measure it, you can manage it. In previous episodes, weâve spoken about the importance of auditing your energy so you can stay happy, and weâve spoken about auditing your time so you can stay productive. This is the version we do for managing your money.
Track every dollar you earn and every dollar you spend using a spreadsheet or, the old-fashioned way, on a piece of paper. (You can also use ASICâs Budget Planner, which although designed for Australians is just as applicable globally).
Write down your:
Income:
Expenses:
Add these five expense fields together and multiply to create your Annual Expenses.
Next, take your Annual Income and subtract your Annual Expenses. How much is left? This answer will show whether youâre trending in the right or wrong direction. (Warning: This might be confronting, especially if you discover that your expenses are more than your income, but itâs much better to be aware now so you can take steps to fix it.)
Now, weâve got a clear idea of where your money is going. Just remember: the aim is to have as much money working for you as possible, rather than the other way around.
That paves the way for step threeâŚ
One of the easiest ways to give yourself a pay rise is to spend less! Just as one of the easiest ways to give yourself a pay cut is to spend more. This is one of the most painfully obvious and simple tips, yet it eludes so many people.
The digital world means weâre constantly bombarded with advertisements, while at the same time getting hammered with posts on social media that fire up our human drive to keep up with the Joneses. If youâre not sure what it means to 'keep up with the Joneses', itâs trying to match the social status of your neighbors and friends by doing foolish things with money you donât have, such as buying a new luxury car, just to impress them.
When you make a habit out of spending less than you earn, you have more money at your disposal to create greater wealth in the future. For example, if a bill arrives, you can pay it now without incurring an additional interest charge. If thereâs an essential purchase you need to make, you might find there are favorable terms for an upfront payment, or a penalty for paying in installments.
If youâre currently in debt, do everything you can to pay off bad debt (i.e. debt that is not tax deductible) as quickly as possible, making sure to prioritize items that have the highest interest rate (e.g. your credit card). For example, if youâve got $1,000 available, it would be better to put it towards a credit card bill that is incurring 18% interest, rather than a student loan that might only be incurring 5% interest. Aim to reduce and then eradicate your reliance on credit cards altogether.
(Note: some people can do well out of the bonus points assigned to new credit card recipients; however, it often requires a lot of research, an in depth knowledge of the fine print, and an ongoing focus to avoid penalties, so my preference for most people is to avoid credit cards altogether if possible.)
Again, the aim is to have as much money working for you as you can.
Itâs human nature to spend all that we getâthatâs why tax agencies like the IRS and ATO tax your employer first before you receive your wages. Yet, funnily, if we donât have it to spend, we donât miss it.
Personal finance classic The Richest Man in Babylon by George S. Clason suggested that one of the key wealth creation tips was to âsave at least 10% of everything you earn.â You might think that losing 10% of your income would be unlivable, but if the government introduced an additional 10% tax on income, most people would be able to adjust their lifestyle to accommodate. You might even be motivated knowing that 10% will be returned to you at a later date ⌠with interest.
Rather than seeing how much is left in your bank account after youâve enjoyed the week, make the commitment upfrontâthe moment you receive your payâand save at least 10% of everything you earn.
There are even apps out there, like Acorns, that round up to the nearest dollar from everyday purchases and invests that tiny amount into a diversified portfolio recommended for your risk profile. For example, if you bought a $3.25 coffee, $0.75 would be invested into the portfolio. That might not sound like much, but you would be amazed at how much it adds up over a year, especially when you are able to harness the power of compound interest (more on that in the next post) and have the option of adding more anytime you like.
Too many people ignore the benefit of good money management because they believe they arenât earning enough. âIâll do it when I get my next pay rise,â they say. Only they never get around to it.
Regardless of how much youâre currently earning, get into the habit of good financial decisions.
If you struggle with change, technology is here to help! There are services out there nowadays that make the process automatic, so the habit is done for you. Previously, we spoke about apps like Acorns that enable you to contribute a portion of everyday purchases into an investment account. However, here are two other simple options to help:
Generally, you should follow this order when you receive your pay:
Get into good habits as early as you possibly can.
Due to fear about losing all their money in the stock market, many people opt to leave their money in a savings account. However, this is about one of the worst things you can do with money youâve set aside to invest.
Letâs look at a few countries to inspect their interest rates and compare them to inflation:
| Country | Interest Rate | Inflation |
| Australia | 1% | 1.3% |
| Canada | 1.75% | 2.4% |
| Japan | -0.1% | 0.7% |
| United Kingdom | 0.75% | 2% |
| United States | 2.5% | 1.6% |
Source: Trading Economics (July 2019)
In many cases, inflation is higher than interest so youâre actually losing money keeping it in the bank.
Financial winners invest their money wisely. An easy way to get started is to invest in an index fund, which provides low fees, diversification, and a decent annual returnâensuring you opt to reinvest all dividends and stick with it over the long-term. The stock market has one or two volatile years each decade, but historically has returned around 9% per year.
You can also use dollar cost averaging, which is a strategy to smooth out any volatility. The idea is that you continue to buy X number of shares each month, no matter what. When the market is performing strongly, your portfolio will be doing well, and when the market is weak, you can buy more shares at a cheaper price. This strategy protects against the futile task of âtiming the marketâ and over the long term you will have a lot more money working for you than you would have otherwise.
For example, if you invested in the Nasdaq-100 Index Fund in the US 10 years ago (between 2009 â 2019), you would experience the usual volatility but enjoy a strong overall average annual return:
Source: Yahoo Finance (July 2019)
If you invested in the Australian All Ordinaries Accumulation Index for that same 10-year period, the average annual return would be 10%, again assuming dividends are reinvested. Performance will vary based on the fund you choose and at what time you start, but remember:
For most people, keeping your money stuck in a savings account is far from ideal. Just remember that obtaining professional advice for your unique situation is extremely important because it can vary significantly depending on your circumstances, investment goals, and risk profile (weâll touch on this more later).
Financial winners build a diverse portfolio of quality assets that appreciate. In contrast, financial losers spend all their money (and then some) on items like jet skis and new cars that depreciate.
Letâs use an example. In 2009, Jennaâs after-tax salary was $50,000/year, and she decided to setup an auto debit for 20% of her pay each fortnight (equaling $10,000/year) going to a new account that she couldnât touch for everyday purchases. Jennaâs skills increased in that time, and so did her salary, but she kept her contributions at $10,000/year.
The funds were invested into an index fund that averaged 9%/year. Prior to tax and inflation, here is what Jennaâs account would be worth:
Remember, this is just from 20% of her take-home pay from 10 years ago! Imagine if Jenna held the commitment of 20% of her income as her salary increased?
Albert Einstein once said: âCompound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn't, pays it.â Itâs the key to understanding how small sums add up, leading to enormous gains for financial winners and extreme losses for financial losers.
Letâs reflect again on Jenna in the last example. The longer she left her investment, the quicker it multiplied. Letâs add two more periods:
Thatâs the power of compounding!
Financial losers spend all their pay, and often borrow even more on credit cards, for items that depreciate, such as travel, clothing, and new cars. To illustrate the power of compound interest working against you, letâs think about Jennaâs friend, Luke.
In 2009, Luke didnât listen to Jenna and decided to borrow $20,000 for a European holiday and some new clothes. Luke made these purchases on a credit card because the bank, who he trusted, said his financial history was good. The interest rate on the credit card was 20%.
Luke returned from holiday and noticed that each bank statement said he only needed to pay 2% of the balance ($200/month), which he did diligently. He met with Jenna who informed him of the problems with spending money on credit cards, so Luke cut up the credit card and never used it again.
However, the statements kept coming.
Eventually, after nine years, Luke was free of his credit card debt. Paying more than $23,000 in interest alone had taught him a valuable lesson. He realized that banks know compound interest better than anyone, and thatâs why they seem happy to lend indiscriminately. Luke learnt the hard way that âCompound interest on debt was the banker's greatest invention, to capture, and enslave, a productive societyâ as Albert Einstein said.
At a recent haircut, the hairdresser, Michelle, was telling me how her life was going to change. A friend-of-a-friend had approached her about an âamazing opportunityâ in Las Vegas where they were going to pool their money, borrow some additional funds from the bank, and buy property that was guaranteed to return 15% per year.
Michelle was young and inexperienced with investment, and clearly too trusting of this acquaintance. Alarm bells should ring if anyone comes to you with an opportunity that boasts guaranteed returns, especially high ones. As the adage says: âIf itâs too good to be true, it usually is.â
Previously, we have spoken about investing in an index fund. For the average investor, this is a reliable strategy because it provides good exposure to the market (i.e. diversification) at a low cost. You can sell all (or part) of your investment at any time, and itâs regulated by the authorities such as the SEC or ASIC. If one company on the index fails, youâre still protected by the strength of the other companies.
On the other hand, if you invested all your money in a single company, you might wake up one day to find that the company has gone under and youâve lost all your money. A parcel of many companies has much smoother returns and less risk than a single company.
For most people, buying a home is the goal. A benefit of this is the forced saving commitment as you work to pay off the loan. However, if you need to access funds quickly, you cannot sell the kitchen. If youâve got a background in building or property, buying a house can be lucrative but, for the average person, starting with an index fund is often the better option.
If you do buy property, remember that most of the value is in the land, which should dissuade you from buying brand new apartments off the plan, lest you find yourself in a situation like this.
For speculative investments, such as cryptocurrency, only use money youâre willing to lose.
I love the Zig Ziglar quote: âRich people have small TVs and big libraries, and poor people have small libraries and big TVs.â The best investment you can make is in yourself. A commitment to your ongoing education will help you not only identify opportunities but recognize potential danger too.
For example, if in 2008 when the stock market crashed, you paid attention to the doomsday news stories and sold your index fund investment, you mightâve felt satisfied in the short-term thinking you had avoided further disaster. However, if you had invested in yourself too, you wouldâve understood that the stock market is driven in large part by greed and fear, and that all you did was crystallize a loss. After all, the index fund was invested in real companies who have come through these downturns before. As a result of selling, you missed the growth that has happened since, which likely far surpassed the point where you sold.
The right book or podcast could be worth more than a million dollars to you, but most people would rather watch TV. The best investment you can make is in yourself.
Approximately 50% of marriages end in divorce (divorce rates by country), and if youâve ever been involved in a divorce or witnessed one firsthand, youâll know itâs definitely one of those things you want to avoid.
Financial issues, which in most cases can be alleviated through communication and planning, is the leading cause of relationship stress and marriage breakdown. Here are some interesting statistics:
Schedule time regularly to ask your partner about their goals, and then share your own thoughts. It might feel like an awkward conversation at first, but it will save you a lot of heartacheâand potentially tens of thousands of dollarsâdown the track.
This is an extremely important one. I strongly urge you to seek professional advice where your unique circumstances, goals, and risk profile can be evaluated, and an investment plan prepared for you after taking all that into account.
Whatâs the best way to find a good financial planner?
Once youâve done the above, make a list of 3-4 people, or companies, that you think would be a good fit, and then take an initial consultation to see who takes the time to understand you. One of the best ways to judge the merits of a prospective financial planner for you is by the questions they ask and how attentive they are to your responses.
Onwards and upwards always,
James Whittaker
In case you missed it:
11 Tips to Supercharge Your Productivity
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âCompound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn't, pays it.â â Albert Einstein
ââA part of all I earn is mine to keep.' Say it in the morning when you first arise. Say it at noon. Say it at night. Say it each hour of every day. Say it to yourself until the words stand out like letters of fire across the sky.â â George S. Clason (The Richest Man in Babylon)
âToo often, a vast collection of possessions ends up possessing its owner.â â Warren Buffett
âItâs good to have money and the things that money can buy, but itâs good, too, to check up once in a while and make sure that you havenât lost the things that money canât buy.â â George Lorimer
âBuy when everyone else is selling and hold until everyone else is buying. Thatâs not just a catchy slogan. Itâs the very essence of successful investing.â â J. Paul Getty
âThe power of compound interest the most powerful force in the universe.â â Albert Einstein
âNever spend your money before you have it.â â Thomas Jefferson
âWe make a living by what we get, but we make a life by what we give.â â Winston Churchill
âIf money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability.â â Henry Ford
âYou only find out who is swimming naked when the tide goes out.â â Warren Buffett
âThe individual investor should act consistently as an investor and not as a speculator.â â Ben Graham
âNot everything that can be counted counts, and not everything that counts can be counted.â â Albert Einstein
âIt takes as much energy to wish as it does to plan.â â Eleanor Roosevelt
âSuccessful investing takes time, discipline and patience. No matter how great the talent or efforts, some things just take time. You canât produce a baby in one month by getting nine women pregnant.â â Warren Buffett
âAn investment in knowledge pays the best interest.â â Benjamin Franklin
âHappiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.â â Franklin D. Roosevelt
âLife is full of uncertainties. However, I can guarantee you one thing: those who put an investment program in place will have a lot more money when they come to retire than those who never get around to it.â â Noel Whittaker
âSomeoneâs sitting in the shade today because they planted a tree a long time ago.â â Warren Buffett
âEmpty pockets never held anyone back. Only empty heads and empty hearts can do that.â â Norman Vincent Peale
âBefore you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give.â â William A. Ward
âTo attain emotional maturity, each of us must learn to develop two critical capacities: the ability to live with uncertainty and the ability to delay immediate gratification in favor of long-range goals.â â Noel Whittaker
âA successful person is one who can lay a firm foundation with the bricks others have thrown at him.â â David Brinkley
âHow many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.â â Robert G. Allen
âDonât keep knowledge trapped in your head or your money stuck in a savings account.â â James Whittaker
âThe stock market is filled with individuals who know the price of everything, but the value of nothing.â â Phillip Fisher
âMoney is a terrible master but an excellent servant.â â P.T. Barnum
âBecoming wealthy is not a matter of how much you earn, who your parents are, or what you do ⌠it is a matter of managing your money properly.â â Noel Whittaker
âWhat we learn from history is that people donât learn from history.â â Warren Buffett
âWealth is the ability to fully experience life.â â Henry David Thoreau
âIf you understand compound interest, you basically understand the universe.â â Robert Breault
âWealth is not his that has it, but his that enjoys it.â â Benjamin Franklin
âBe fearful when others are greedy, and greedy when others are fearful.â â Warren Buffett
âIf youâre in the luckiest 1% of humanity, you owe it to the rest of humanity to think about the other 99%.â â Warren Buffett
âIâm a great believer in luck, and I find the harder I work the more I have of it.â â Thomas Jefferson
âEvery time you borrow money, you're robbing your future self.â â Nathan W. Morris
âIâm only rich because I know when Iâm wrongâŚI basically have survived by recognizing my mistakes.â âGeorge Soros
âCompound interest on debt was the banker's greatest invention, to capture, and enslave, a productive society.â â Albert Einstein
âToo many people spend money they donât have to buy things they donât need to impress people they donât like.â â Robert Quillen
âRich people have small TVs and big libraries, and poor people have small libraries and big TVs.â â Zig Ziglar
âSometimes a very expensive life lesson can be worth every penny.â â Noel Whittaker
âIf you donât value your time, neither will others. Stop giving away your time and talents. Value what you know and start charging for it.â â Kim Garst
âI just sit in my office and read all day.â â Warren Buffett
âUnderstanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things.â â Charlie Munger
âThe four most expensive words in the English language are, âThis time itâs different.ââ â Sir John Templeton
âLong ago, Ben Graham taught me that âPrice is what you pay; value is what you get.â Whether weâre talking about socks or stocks, I like buying quality merchandise when it is marked down.â â Warren Buffett
âGood and evil increase at compound interest. That's why the little decisions we make every day are of infinite importance.â â C. S. Lewis
âIt is not necessary to do extraordinary things to get extraordinary results.â â Warren Buffett
âThereâs always a way if you look hard enough.â â Noel Whittaker
âA journey of a thousand miles must begin with a single step.â â Lao Tzu
âThe asset I most value, aside from health, is interesting, diverse, and long-standing friends.â â Warren Buffett
âWrite it on your heart that every day is the best day in the year.â
Ralph Waldo Emerson
When faced with misfortune, most people are quick to lash out at others. Yet, high achievers know that itâs not laying blame that leads to successâitâs proudly taking ownership of every aspect of your life.
These 10 questions will empower you to rise in almost any situation, allowing you to reset your energy, prepare actionable plans, and advance with stronger resilience than ever before.
Understanding this has been one of the most profound turning points in my life. Incredible stories of Janine Shepherd and Jim Stovall prove that thereâs a gift in every adversity ⌠you just have to find it. While a challenging skill to master in the moment, dig deep and youâll find a little comfort in even the most difficult hardship. Mastery of resilience is the foundation of the growth mindset and what keeps high performers focused when others give up.
Numerous studies, including this one from UC Berkeley, have shown that people who use a regular gratitude practice are happier. When youâre focused on positive energy, it shifts your focus from resentment and envy to abundance, improving everything from personal relationships to career success. If youâre new to gratitude, grab a copy of The 5 Minute Journalâitâs what I use personally and is truly lifechanging. Also, schedule a weekly calendar reminder to send good vibesâwhether a message, phone call or emailâto someone whose efforts and support you appreciate.
If youâre working a job you hate, or spending too much time helping someone else achieve their goals, perhaps itâs time you restored balance into the equation and thought about what you wanted. Readers of Think and Grow Rich: The Legacy might recall the greatest turning point in Sandy Gallagherâs career was when she realized her entire life had been about making someone elseâher fatherâhappy. As she transitioned toward forging her own path, Sandy found that she was not only happier and more fulfilled in her new career, she was able to positively impact far more people, too.
As Simon Sinek said, âPeople donât buy what you do, they buy why you do it.â When youâre clear on why you do what you do, whether an individual or a company, it allows you to persist through adversity, attract a tribe of people excited in your mission, and remain constantly alert for resources that will help you on your journeyâthe ultimate pathway to finding your how.
In a world of instant gratification, buck the trend of demanding it now and, instead, proudly put in the work. This is a fundamental step emphasized repeatedly in Think and Grow Rich and the process of autosuggestion. With your most important goals, write down the specific actions youâll takeâthe price youâre willing to payâto make them a reality. Youâll find that the level of success you achieve is in direct proportion to the consistent effort you take.
Audit your time each day for one week so you can easily pinpoint where youâre knocked off course. (Even simple things such as deleting time-wasting apps, switching your phone to airplane mode for regular blocks, and removing clutter, can all make a massive difference to your daily productivity.) Next, look around your living and working environments. If they donât motivate you to go the extra mile each day, make some changes. In my office, I have a huge print that says âACTION: The difference between having and wantingâ reminding me of the importance of sustained effort. Surround yourself with inspiration.
Your energy source is the most important part of your life and should be insulated from sabotage at all costs. Surround yourself with people who think positive, dream big, and align with your valuesâthose demonstrated in the top-right corner of the Friendship-Success Quadrant (below). Youâll find your energy levels increase tenfold as a result. This is the power of the mastermind and the one attribute that has made the most significant difference in my own life. Once youâve found the right people, use this to turbocharge your success.
Paradoxically, we often reserve our love and kindness for others, and then engage in negative self-talk when weâre aloneâitâs certainly a weakness of mine. Rob Dyrdek introduced me to Dr George Pratt, the clinical psychologist and hypnotherapist who Rob credits as changing his life. George helped me to be more aware of negative self-talk and gave me some exercises that I now have scheduled in my calendar every week to keep focused, relaxed and happy. Hereâs a short one you can try. Donât just make time for your mental health, schedule it.
As part of human nature, and only enhanced in the digital age, we often massively overthink and overcomplicate situations. Sometimes, taking a step back and giving ourselves a mental reset to ponder âWhat would this look like if it were easy?â can be the quickest way to an acceptable solution, saving valuable time and energy in the process.
The end of the calendar year is a good reference point for how your life is progressing. If youâre unable to answer this question quickly, fill out the Success Plan (template). Feel the emotions of having already attained those 3-5 things, then make sure youâve got a detailed planâwith regular action items scheduledâbuilt into your weekly calendar so imagination becomes reality. High performers all have systems to optimize their success.
Through a calm demeanor and an inquisitive mind, the best way forward is always revealed. Remember, you are the only problem you will ever have and YOU are the only solution.
Take actions today that your future self will thank you for. After all, the right question could save your life.
Onwards and upwards always,
James W.
In case you missed it: âThe One Number that Doesnât Matterâ
PS â Join my VIP newsletter AND get a free bonus from Think and Grow Rich: The Legacy (instant download).
âMiss a meal, but donât miss a book.â
Jim Rohn
This holiday season, rather than squandering money on gifts with little long-term value, consider giving something practical that gets the recipient excited about taking ownership of his/her future.
Aside from allowing us to delve into the minds of the most inspiring and innovative people on the planet, books are a great gift because they sit there staring back at us: providing gentle prompts, imaginative thought and unprecedented motivationwhen we need it most. In fact, many of the people I interviewed for Think and Grow Rich: The Legacy noted that, in times of distress, just staring at the cover of Hillâs original classic made them feel better about themselves.
For the time-poor, or those with reading difficulties, audiobooks are the perfect way to consume massive knowledge in a short timeframe. For portability, and to easily retain a summary of your highlighted passages, ebooks canât be beat. For a well-rated classic, or something you want to revisit time and time again, thereâs no substitute for a hardcover, which is also far more personal than gifting a digital product.
Welcome to my first annual recommended reading list of gifts for yourself or a loved one.
Think and Grow Rich: The Legacy by James Whittaker
Writing this book is the greatest honor of my life and itâs truly humbling to see it continue to resonate with so many people around the world. The theme of the book is that how you respond to adversity when it inevitably strikes is far more important than the adversity itself, and this is demonstrated through a combination of moving stories and practical tips. My hope is that it continues to inspire people of all backgrounds to extraordinary achievement.
Want a signed copy? Signed copies with free worldwide shipping are available for USD $25 or AUD $30 per copy. Remember to email us with at least two weeksâ notice to ensure your order arrives in time. Discounts are available for bulk orders â email for more info. (Unsigned copies are also available on Amazon.)
Defiant by Janine Shepherd
If youâve read or watched Think and Grow Rich: The Legacy, youâll undoubtedly be familiar with Janine Shepherd. Her remarkable story is the best personification of resilience and tenacity that Iâve ever seen.
Defiant is a comprehensive account of a champion athlete having her entire life ripped away by a freak accident, before summoning the courage to continue and pursue a gold medal in the sport of life. I finished this book in two sittings, then called Janine to tell her how amazing it was! Highly recommended.
Shoe Dog by Phil Knight
Iâve always been a fan of Nike, and Shoe Dog is a warts-and-all account of founding one of the worldâs most recognized companies and navigating all the perils along the way. Often, with global brands, we forget that the business all started as a simple thought impulse. Knight traveled around the world looking for inspiration, battling the market leaders (and even the US Government) and setting up distribution channels.
His philanthropic values, entrepreneurial spirit and uncanny resourcefulness make this an excellent gift for aspiring entrepreneurs with lofty goals.
The 5 Minute Journal by Intelligent Change
If you follow me on Instagram, youâve probably seen how frequently I post these as Daily Stories. A huge percentage of CEOs have spoken about the importance of journaling for mental well-being; yet staring at a blank page each day can be daunting. The 5 Minute Journal provides a useful structure to start and finish the day in the right mindset. To me, itâs been truly lifechanging and is the book I gift the most.
(If youâre on Instagram, I want to follow you too! Just send me a message or email with your username so I can keep track.)
Chief Maker by Greg Layton
This book is written for middle level managers looking to equip themselves with the skills and mindset to not only secure a C-level role but thrive.
In addition to a unique backgroundâthink living with Shaolin Monks in China, running ultra-marathons, and coaching world champion athletesâGreg has become a close personal friend. He compiled his firsthand research with true changemakers into his 5-step âGREAT Methodâ asthe ultimate career progression handbook. Better yet, Chief Maker is FREE as part of a Christmas promotion.
Crushing It by Gary Vaynerchuk
We all know the importance of having mentors regardless of what life stage weâre in, but too many people are focused on trying to find one in real life. The most influential people of all timeâfrom Marcus Aurelius to Jeff Bezosâturned to the written word for inspiration, and you can do the same. In 2012, when I lived in Boston and was at a career crossroads, Gary Veeâs books were enormously influential.
Crushing It is his latest book and will help entrepreneurs and professionals, as well as those looking for a profitable side hustle, monetize their passion and package their talents for success in the digital age.
The following three books are timeless classics and will be on my bookshelf forever:
A handwritten card or letter to acknowledge the recipient for all the loving and selfless actions they have taken to brighten the world and illuminate your spirit.
I proudly recommend all these books and know they would be a welcome gift in any stocking. This holiday season give your friends and loved ones the inspiration and ability to help themselves.
Onwards and upwards always,
James W.
In case you missed it: âThe Path to Greatnessâ
