The Founders Of The World’s Five Largest Companies All Follow The 5-Hour Rule

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Bill Gates. Steve Jobs. Warren Buffett. Jeff Bezos. Larry Page. They are all polymaths too.

by Michael Simmons, Serial Entrepreneur, Bestselling Author, Contributor To Fortune, Forbes, HBR, Time, & Many More

(reblog from Thrive Global)

The founders of the five largest companies in the world — Bill Gates, Steve Jobs, Warren Buffett, Larry Page, and Jeff Bezos — all share two uncommon traits. After studying self-made billionaires for many years now, I believe that these two traits are responsible for a lot of their wealth, success, impact, and fame. In fact, I put so much faith in these two traits that I’ve used them in my own life to start companies, be a better writer, be a better husband, and achieve financial security.

Here are the two traits:

  1. Each of them is a voracious learner.
  2. Each of them is a polymath.

Let’s unpack these two terms, and learn a few simple tips for using them in your own life.

First, the definitions. I define a voracious learner as someone who follows the 5-hour rule — dedicating at least five hours per week to deliberate learning. I define a polymath as someone who becomes competent in at least three diverse domains and integrates them into a skill set that puts them in the top 1% of their field. If you model these two traits and you take them seriously, I believe they can have a huge impact on your life and really accelerate your success toward your goals. When you become a voracious learner, you compound the value of everything you’ve learned in the past. When you become a polymath, you develop the ability to combine skills, and you develop a unique skill set, which helps you develop a competitive advantage.

By Bill Gates’ own estimate, he’s read one book a week for 52 years, many of them having nothing to do with software or business. He also has taken an annual two-week reading vacation for his entire career. In a fascinating 1994 Playboy interview, we see that he already thought of himself as a polymath:

PLAYBOY: Do you dislike being called a businessman?

GATES: Yeah. Of my mental cycles, I devote maybe ten percent to business thinking. Business isn’t that complicated. I wouldn’t want to put it on my business card.

PLAYBOY: What, then?

GATES: Scientist. Unless I’ve been fooling myself. When I read about great scientists like, say, Crick and Watson and how they discovered DNA, I get a lot of pleasure. Stories of business success don’t interest me in the same way.

The fact that Gates considers himself a scientist is fascinating given that he dropped out of college and had spent his whole life in the software industry at that point.

Interestingly, Elon Musk doesn’t consider himself a businessman either. In this recent CBS interview, Musk says he thinks of himself as more of a designer, engineer, technologist, and even wizard.

The list goes on. Larry Page has been known to spend time talking in depth with everyone from Google janitors to nuclear fusion scientists, always on the lookout for what he can learn from them.

Warren Buffett has pinpointed the key to his success this way: “Read 500 pages every day. That’s how knowledge works. It builds up, like compound interest.”

Jeff Bezos has built his whole company around learning on a massive scale via experimentation and has also been an avid reader his whole life.

Finally, Steve Jobs famously combined various disciplines and looked at it as Apple’s competitive advantage, going so far as to say:

“Technology alone is not enough. It’s technology married with the liberal arts, married with the humanities, that yields the results that makes our hearts sing.”

And, of course, the founders of these five companies aren’t the only massively successful individuals who share these two traits. As I’ve written about before, if we expanded the list to a sample of other self-made billionaires, we quickly see Oprah Winfrey, Ray Dalio, David Rubenstein, Phil Knight, Howard Marks, Mark Zuckerberg, Elon Musk, Charles Koch, and many others share similar habits.

Why would some of the busiest people in the world invest their most precious resource — time — into learning about topics seemingly unconnected to their fields, like fusion power, font design, biographies of scientists, and doctors’ memoirs?

Each of them commands organizations of thousands of the smartest people in the world. They’ve delegated almost every task in their lives and businesses to the best and brightest. So why have they held on to this intense amount of learning?

After writing several articles attempting to answer these questions, this is what I’ve ultimately come to:

At the highest levels, learning isn’t something you do to prepare for your work. Learning is the most important work. It is the core competency to build. It’s the thing you never delegate. And it’s one of the ultimate drivers of long-term performance and success.

As I came to this realization, I wondered: Why isn’t it obvious that we should all become voracious learners and polymaths throughout our whole lives given that we live in an increasingly complex, rapidly changing, advanced-knowledge economy? Why does the average person think of deliberate learning as an optional thing to do on the side?

I think it’s because of three strong messages we’ve all been taught — in school, in college, and in general society — that may have been true in the past but are definitely no longer true. Here’s how these three lies break down:

  • Lie #1: Disciplines are the best way to categorize knowledge.
  • Lie #2: Most learning happens in school/college.
  • Lie #3: You must pick one field and specialize in it.

These beliefs are so insidious that they’ve destroyed our intuition about learning and knowledge, and they ultimately hold us back from creating the success we want. If we can become aware of them, we can rectify them, just as the most successful people in the world have done.

To continue with this insightful article please go to THRIVE GLOBAL (Arianna Huffington founder of  HuffPost) for more!

 

21 inspiring Paulo Coelho Quotes for Entrepreneurs

 

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© 2018 Lynda Filler Photography

 

Thank you: Posted by P. Charitha

Paulo Coelho, the Brazilian lyricist and novelist is best known for his widely translated novel The Alchemist. A successful writer with the highest number of social media followers reaching over 29.5 million fans through his Facebook page and 12.2 million followers on Twitter, he uploaded his personal papers online to create a virtual Paulo Coelho Foundation.
Check out these inspiring quotes from his Blog which will motivate and keep you going steady in your entrepreneurial journey! We start with this quote.
“Fortunate are those who take the first Steps.”
So pat yourself on the back and move forward with your new idea and start the journey!
 
Believe in your Dreams
 “People are capable at any time in their lives of doing what they dream of.”
“One day you will wake up and there won’t be any more time to do the things you’ve always wanted to do. Do it now.”
“You are what you believe yourself to be.”
“When you want something, the entire universe conspires in helping you to achieve it.”
And
“Miracles only happen if you believe in miracles.”
When you Fail
“Never give up.”
“There is only one thing that makes a dream impossible to achieve: the fear of failure.”
“You drown not by falling into a river, but by staying submerged in it.”
“Don’t give in to your fears, if you do, you won’t be able to talk to your heart.”
Keep the positivity Flowing
“When you are enthusiastic about what you do, you feel this positive energy. It’s very simple.”
“If you want to be successful, you must respect one rule: never lie to yourself.”
“It’s the possibility of having a dream come true that makes life interesting.”
It’s not an easy Journey
“Sometimes you have to travel a long way to find what is near.”
“Be brave. Take risks. Nothing can substitute experience.”
“When you find your path, you must not be afraid. You need to have sufficient courage to make mistakes. Disappointment, defeat, and despair are the tools God uses to show us the way.”
Take that Risk
“You have to take risks. We will only understand the miracle of life fully when we allow the unexpected to happen.”
“A life without cause is a life without Effect.”
In those many moments of ups and downs where you have been told that it’s too risky or it’s not worth all the trouble & money keep fighting for your dream  because if you :
“Fight for your dreams and your dreams will fight for you.”
“If you think adventure is dangerous, try routine: it is lethal.”
re-blogged from Paul Coehlo Blog

What is something you find easy that most people find hard?

 

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I have many things I think I find easy but the first word that came to mind is Entrepreneur.

When I was young I think I was shy. Everyone laughs at me when I say that. I was/am a military brat. It’s a lonely world out there if you’re shy and don’t make friends easily. I learned very quickly how to introduce myself and make new friends every three years.

I started selling clothing from my home at twenty. It took guts. But I never thought twice about it. It came naturally to me to go for something I wanted. Later I moved to a retail location in Toronto. I found three small investors and it never crossed my mind that they wouldn’t invest in me! When I moved to Montreal and began a manufacturing company after working as an International Fashion Buyer for the largest company in Canada. I had no formal training but I had confidence and I was innovative and good.

Over the years I’ve learned countless skills—all self-tough—that have allowed me to be fluid in career choices. I’ve always been successful. That doesn’t mean it’s always been easy. Absolutely not.

I love to make money and spend it! I’m creative and have a gift for business. Now I’m following another passion. I’ve been writing for years. Now I write full time and have 12 books on Amazon.

I think most successful people will tell you it’s more than one thing that accounts for their success. I think most successful people will tell you it’s more than one thing that accounts for their success. I’m also a great leader. People will follow me and success is not necessarily a solitary journey.

I’ve given you a path but you can be sure I fell down, lost my faith in myself countless times. But I’ve always believed in myself and that has made all the difference.