Saturday, March 23, 2013

Managed Frustration

A blood curdling scream came from the bedroom. Sounded like my seven year old.

What happened? Did someones hair get pulled? Did a ceramic Christmas tree just put a dent in one of my kids foreheads? That actually happened once. Did one of them just break their arm?


My youngest daughter was putting away the Lego's and she decided to dismantle what my oldest daughter just put together. 

Life and death? No. To a seven year old? Yes.

It was interesting what happened next; I just got a message that a meeting had been cancelled that I was really looking forward to. 

I told my daughter, "You really need to work on your adversity quotient(AQ). She said, huh?"

This was a perfect time to talk about the adversity quotient to my daughter. 

I was once taught that success is managed frustration. We all have things happen to us; what's important is how we react. 

Adversity Quotient is something I have learned about from Orrin Woodward in his book Resolved: 13 Resolutions for LIFE. Mr. Woodward goes into great detail on how and why some people are successful and some that can't push through.

His explanation is a lot more detailed and very well researched. I could never do it justice; after all he is the best selling author. 

There are three areas that he digs into: Intelligence Quotient, Emotional Quotient and Will Quotient. If you haven't read this book pick it up as soon as you can. It is a phenomenal book with time-tested principles discussed in great detail that includes specific people that have had success in several areas. 

As it is explained in the book, AQ is the ability to persevere in tough times, handle pressure and stress and continue to move forward despite the odds. The example I am using with my daughter may seem elementary but it is a perfect example of how she can choose to react to a situation she is not happy about. 

Because my oldest daughter is only seven I could only go into so much detail about how to react and respond to life. Once I explained it to her I had her explain it into her own words back to me. 

In my own life I can say my adversity quotient is tested daily in work, life, family and especially spending time with the in-laws. Just kidding! 

Those that can make it through and choose how to react properly will make it further than the person that just gives up. 

The adversity quotient is just a small tidbit of information I have learned from the LIFE business

The purpose of the LIFE business is to provide world class information to help people in all areas of their life. I have learned a great deal of information from the LIFE business and I am proud to follow leaders like Chris Brady, Bill Lewis and Steve Morgan

Thanks for reading and feel free to leave your comments below.

God bless!

Nicholas Nighbor

Saturday, March 16, 2013

What's Holding You Back

Did you know that you can train an elephant to not run away by attaching a long metal stake dug into the ground attached to his foot? Did you know if you put a small stake in the ground with the same elephant but much older it won't try to run away?

Why is that? Limiting beliefs.

Steve Morgan just posted a great article on his website talking about how we limit our own beliefs. Read on and feel free to comment on how you feel about limiting beliefs.

I think many people are alike, they have limiting beliefs.  I know that growing up I developed limited thinking.  The way that I overcame this personally was through the information in the LIFE business.  We have worked with Best selling authors Orrin Woodward and Chris Brady for a decade of our lives now.  It made all the difference.  They say that over the next 5 years you will be the same person except for the books you read and the people you meet.  I have asked people for years, “if we recorded you talking to yourself would you be embarrassed if we played it for others to hear?” They always say yes.  I can’t believe that we talk so negative to ourselves, but we do.  What I have found by reading the right books, is that you can do anything you put your mind to. Click link to read more. What's holding you back?

Thanks for reading!

Nicholas Nighbor

Wednesday, March 13, 2013

Changed my life... part III

Albert Einstein has been credited to say that compound interest is the most powerful force in the universe. There is certainly truth to that statement. If you are just reading this blog series for the first time, I am doing a three part series on the three keys to wealth from Robert Kiyosaki's amazing book Cashflow Quadrant. 
If you would like to check out the other two parts click on the links: part I and part II.

Before reading this book or understanding anything about business I was completely oblivious to the power of compounding. After digging into it a little more I understood very quickly why. 
Let me start with an example we are all familiar with. Who has taken out a loan. Car loan. Home loan. Have you every borrowed money and had to pay interest on something?
If you take out a $150,000 home loan at 5% for 30 years you will pay of a total of $289,000 in principal and interest. This is no surprise to most homeowners; we all know that we have to pay some interest to borrow the money. That means you would have to pay almost double for what the house is worth over that period of time.
Let's take it another step though, every single month a homeowner makes a payment to their mortgage company that homeowner is falling prey to the power of compounding. It is working against that homeowner every day there is a lien on a property, an automobile and even recreation vehicles.
I understand most people must take out a mortgage in order to become homeowners but back to my last article. Do we really need to finance that new truck? Do we really need to take out that home equity loan for the addition on the house. The longer a consumer is in debt the longer the power of compounding will work against them. 
Out of all three keys to success this has been the hardest for me to comprehend. I think the reason why is because I have never been taught to use the power of compounding before learning these tips from this book. We are also taught every day in our media to buy or lease that new car for only $250 a month. That statement right there goes again all three keys to wealth. It tells you think short term, get it now and it's not that big of a payment. 
But we all start somewhere by utilizing the power of compounding in our life. If you read a book and learn, you will grow. If you read another book you will grow. As you read and learn you are compounding your knowledge to get better. That is the power of compounding; applied to learning. This can be applied to thinking, fitness, finance and even time with family.
This last step will never take full effect until the first two are practiced. First have a long term vision, because we should all know quick fixes can never be permanent and second, delay your gratification. Deny yourself, set a goal, accomplish the goal and then reward yourself. The victory and prize will mean so much more. 
I hope you have enjoyed reading this three part series. If you haven't yet, go and pick up Cashflow Quadrant. 

Feel free to comment, share and let me know your thoughts. 
ifferent information = Different actions = Different results.

Thanks again for reading and God bless!


Monday, March 4, 2013

Changed my life: part II

Last week I introduced a book that had a great impact on my life. Anyone that has looked into creating long term sustainable success the title of the book is Cashflow Quadrant by Robert Kiyosaki. If you missed last week's post click on the link Changed my life.
Of the three keys to success; last week I touched a little on the importance of long term vision. This week I will be going a little more in depth on step two. Step two states; in order to create long term wealth you must learn how to delay your gratification.

Delay my gratification; what does that mean?
When I learned what this concept meant it was completely foreign to me.
Here are a few examples.
Did you know at one point people use to take a picture on their camera, they would have to finish their 35mm roll, take it in to a photo processing center and have to wait two weeks to get their pictures back?
What do they do now? They take a picture on their phone send it across the world wide web and people from the other side of the world can see it in seconds!
Did you know that a long time ago people use to save up their money and pay cash for their cars, can you believe that? They wouldn't have to apply for a loan; they already had the money! What do they do now? They finance their cars, boats, atv's, and televisions. It's only $250 a month for 60 months. That's a good deal right?
Did you know a long time ago people would eat dinner with the food they planted in their garden? What do they do now? Run to the store, pick up some canned fruit and put it on the plate. Voila!
The times have changed. Just look around you; everything is go go go, instant instant instant.
How does this have anything to do with creating wealth. It has everything to do with wealth. When I learned this simple concept it changed my finances instantly (pun intended).
Think about it. Just because you want that new truck, should you get it? Just because you can afford the payment on a house four times your income, should you get it?
Please understand me. I do not have this all figured out. I am following some fantastic leaders that have not only taught me these concepts, they live these concepts. Just a couple of these leaders are Orrin Woodward, Chris Brady, Bill Lewis and Steve Morgan. They are my example of how to delay my gratification. I use their example because they have the fruit on the tree.
This is how Kiyosaki explains it in his book. 'They were willing to make short term sacrifices to gain long term success, which is the basis of delayed gratification.' Put another way, giving up the good for the great; living for today, not for your future.
The LIFE business teaches about this very concept about delayed gratification. Unfortunately, we live in a instant gratification society, perhaps that is why the majority of Americans are drowning in debt.
You can change that though. It's going to take something though; a long term vision. If I take 10 years to get into debt it is going to take some time to get out. Give it some time; learn these principles and apply them.
And when you are in control of your money and you tell it where to go the feeling is so relieving.
There is a shortage of good information in our society that teaches solid financial education. The LIFE business offers that.
Be sure to stop by next week to learn about the third and final step for creating wealth.
Thanks for reading and God bless!!

Nicholas Nighbor