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RICH AND SUCCESSFUL PEOPLE ARE LEARNING MACHINES AND SELF LEARNERS SELF-MADE MILLIONAIRES HAVE SELF READING HABITS

 
 
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RICH AND SUCCESSFUL PEOPLE ARE LEARNING MACHINES AND SELF LEARNERS SELF-MADE MILLIONAIRES HAVE SELF READING HABITS
by System Administrator - Wednesday, 26 July 2017, 5:40 AM
 

By: M.S.Yatnatti: Editor and Video Journalist Bengaluru: No matter where you are in life, keep on learning and you will succeed. It is very important to understand that Some of the world's highest achievers have one thing in common: it isn't a high IQ, nor is it an incredible lucky streak, but their appreciation for reading the Books were their most profitable investment.The wicked problem solver is special. They acquired knowledge or skill on their own initiative rather than through formal instruction or training. There are problems and then there are big problems and big can be wicked with extraordinary challenges that can overcome only through partnerships .Companies have long cooperated within their ecosystems, working with suppliers, partners, customers, and even competitors. Wicked issues are different because traditional processes can't resolve them; wicked problems often crop up when organizations have to face constant change or unprecedented challenges. Usually under that definition, a self taught person would use the resources you listed such as textbooks, online materials, videos, recorded lectures, uploaded worksheets/exams, and those free online courses that don't include assistance. It may or may not also include assistance from online forums like physics forums, reddit, or stackexchance.Be your own boss .Create a startup and be your own boss .Let it be small or big be your own boss .A small seed can become big tree .You have to have passion commitment and good idea good networking skills .

A start up need to have a well documented business plan investment strategy and including exit options to angel investors in the start itself aslater problem should noy crop up with founders. You should have good product and it should be in need and it should have better feature than other products. what is not working discontinue it .Scale it as demand grows .Do not ignore Marketing .Growth capital is very important but do not over raise the finance and hire good talent as an when it is required .Do not over pay as it will be very difficult to manage the start up.Time is everything .Be different find right investors and venture capitalists and not vulture capitalists. Raise money intelligently find the right people be sure and flexible .Do not ignore open source technology. Well documented code of conduct is very important for every employee.and directors of the startup. Well defined Information technology is one of the biggest mass employers. Be different startup .Find unsolved problems of customers and solve it, everybody has problems. Many have many problems .Few problems are universal. Few problems are local few are national and few are international .Find unsolved problems. Companies succeed because they solve and understand the unsolved problem and come up with solutions that are very different from what others do. Put yourself in the customer's position; perhaps you would have experienced a pain point yourself. You may not fully understand the difficulty unless you experience it yourself .Develop deep customer insights. Secret of your success is in Passion, determination, vision, agility, team play, fund-raising skills.What exactly defines the DNA of a booming startup? What do some of the biggest names in the investment community look for in startups and entrepreneurs Clarity of vision Domain expertise? What key factors do successful entrepreneurs attribute to their triumph? Need to be understood diligently. Information technology is one of the most important mass employer in the country today providing significant valueaddition and employment creation. Coding is one of the hottest skills on the tech market. According to a recent survey from Burning Glass, programming jobs are growing 12 percent faster than the average. According to the survey, in 2015 there were seven million job openings that required coding skills.

This is a solid path for those of you who want to complete a Computer Science course on your own time, for free, with courses from the best universities in the World.In our opinion the curriculum, we gave and will give preference to MOOC (Massive Open Online Course) style courses because those courses were created with selflearning in mind.Internet is biggest class room biggest University biggest library biggest research center. This can be used for self learning.You certainly do not need a university to learn in this modern age, universities are now boxes you put money and time into and get a network and a certificate out of. Self-taught in any field is just as good as academic study, provided it produces the necessary result. Before you earn a PhD, you can rely to some extent on other people to teach you things. After you finish a PhD, almost everything you learn past that point will be self-taught. There are many people who never went to school but they are masters in their business . They study at self taught University. That is what a PhD is all about in the most fundamental sense; it is learning how to learn about just about anything you need to learn. Once you pass that point, you will rarely be able to find a teacher for anything you want to learn, so it all becomes self-taught learning. Reportedly When Steve Siebold was a broke college student, his quest to become rich began with one interview -- with a millionaire, he told US News & World Report. Since then, he's interviewed more than 1,200 of the world's wealthiest people over the past three decades and become a self-made millionaire himself.In his research, he noticed a pastime the rich have in common: They self-educate by reading."Walk into a wealthy person's home and one of the first things you'll see is an extensive library of books they've used to educate themselves on how to become more successful," Siebold writes. "The middle class reads novels, tabloids, and entertainment magazines.".Rich people would rather be educated than entertained.

Case Study: From $2 to $20 billion Two teenage boys found employment at a grocery store in Omaha, Nebraska. The older boy, from a poor family devastated by the Great Depression, bred and sold hamsters for spare change. The younger boy, grandson of the store owner, had been delaying college and working odd jobs, like selling chewing gum and coke bottles door to door. Back then, each boy made about $2 a day. Just a few decades later, they'd be raking in $20 billion in profit per year with their conglomerate, Berkshire Hathaway. Who were these boys? None other than Charlie Munger and Warren Buffett. How did they become the most successful investors America has ever seen? Buffett spends 80% of his day reading Fastrack to 2007, the 84 year-old Charlie Munger, reveals to a crowd of aspiring law students the secrets to their success: "I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you.” Supposedly, in the early days of Buffett's investment career, he would read 600-1000 pages in a single day. Nowadays, he still dedicates 80% of his day to reading. His takeaway for everyone: no matter where you are in life, keep on learning and you will succeed. Work smart, According to financial adviser Ric Edelman, in order to ensure future wealth, you must equally work hard and smart. One way, he suggests, to do that is to invest your money in the stock market or a retirement fund. "You can do this without taking a huge amount of risk, without a lot of effort, and without spending a lot of time,.Put emphasis on earning, Another way to work smart? Increase your earnings, not just your savings."The masses are so focused on clipping coupons and living frugally, they miss major opportunities," reportedly said Siebold .There's no need to abandon practical saving strategies. However, if you want to start thinking like the rich, stop worrying about running out of money and focus on how to make more. A common thread among millionaires is that they develop multiple streams of income and adopt smart savings habits .don't be content with a steady paycheck ,Average people choose to get paid based on time -on a steady salary or hourly rate -while rich people choose to get paid based on results and are self-employed."It's not that there aren't world-class performers who punch a time clock for a paycheck. But for most, this is the slowest path to prosperity, promoted as the safest," said Siebold. "The great ones know self employment is the fastest road to wealth."While the world-class continue starting businesses and building fortunes, "The masses almost guarantee themselves a life of financial mediocrity by staying in a job with a modest salary and yearly pay raises," he added.Note that "everyone has the same opportunity to acquire wealth," says self-made millionaire Steve Siebold.But not everyone seizes the opportunity. Be out of comfort zone if you want to build wealth, be successful, or get ahead in life, you're going to have to get used to uncertainty or discomfort. Overcoming fear and taking calculated risks are the key elements to achieving success."World class thinkers learn early on that becoming a millionaire isn't easy and the need for comfort can be devastating. They learn to be comfortable while operating in a state of ongoing uncertainty," said Siebold. Pursue your own dream.If you want to be successful, you have to love what you do -that means pursuing your passion.Too many people make the mistake of chasing someone else's dream -such as their parents' -explains Thomas C Corley, who spent five years researching self-made millionaires."When you pursue someone else's dreams or goals, you may eventually become unhappy with your chosen profession," he said. "Your performance and compensation will reflect it." One of the most effective ways to earn more money over time is to invest it, and the earlier you start, the better.You don't have to be an expert about personal finance or use fancy economic jargon to start investing. You don't have to come from an affluent family, and you don't even have to earn a massive paycheck. Start by investing in your retirement savings or a low-cost target date fund and you'll see huge returns in the long run. Don't buy things you simply can't afford .If you live above your means, you won't get rich. Even if you start earning more or get a hefty raise, don't use that as a justification to give yourself a lifestyle raise.