Tag Archive: smart

Abandon Ship!

 
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Yesterday, we said that persistence is the single most important ingredient for your success. If you persist long enough, you’re sure to succeed! However, you have to be smart about it. With that in mind, here are four signs that it’s time to abandon ship!

Internal signs
#1 – It’s affecting your health.
Your health is more important than any career. You may be having anxiety attacks, experiencing constant stress, feeling burned out or fatigued. These are indications that it may be time for a change.

To succeed bigg, you’ll feel stressed from time-to-time. You need to push on, unless it’s affecting your health long-term. NOTHING is worth that. If your long-term health is being affected by what you’re doing, it’s time to abandon ship!

#2 – You’re bored beyond belief.
You’ve been there, done that. Every day feels like a week. It’s harder and harder to get out of bed in the morning. You don’t look forward to work. You feel like you’re stagnating.

The first sign covers your physical health. Here we’re talking about your mental health. When you’re bored to tears, it’s time to abandon ship!

External signs
#3 – There’s no room for growth.
This is related to the second sign. However, in this case, it’s beyond your control. It may be that you’ve been promoted as far as you can go. Perhaps you can’t expect any significant increase in your income. Maybe your company is reaching maturity.

You’ve taken it as far as the circumstances will allow. If there’s little or no opportunity on the horizon, it’s time to abandon ship!

#4 – The trends are bad.
Change happens. It affects your industry – for good or bad. If it’s creating damage, ask yourself 

Is it a trend or is it a fad?

Fads are short term – they will come and go. Trends are long-term things that you can’t change. Warren Buffet, the Oracle of Omaha, said, “When management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.”

We don’t doubt that you’re good. But even you can’t buck the trends. If it’s a fad, push on! If it’s a trend that’s devastating your industry, abandon ship!

Have you felt the need to abandon ship? Or maybe you’re considering it now?
Share your experience with us … leave a comment below!

But don’t just jump ship … prepare your life boat first.

Store up provisions.
Find ways to save some money – skip that latte or pack a lunch until you get settled. Set it aside to provide for you and your family.

Don’t forget your life jacket.
This is your support network. Talk to people who will encourage you, weigh in with ideas, and perhaps refer you to good opportunities.

Remember your compass.
Obviously, you need to know that you’re headed in the right direction. Check out these great resources for guidance:

Your Personal SWOT Analysis (Part I)    

Your Personal SWOT Analysis (Part II)   

Coping With Life Change    

Your Potential Power    

Are You Going Through A Mid-Life (Career) Crisis  

Is It Time For You To Rock And Roll (Change Careers)    

10 Signs That You’re Ready To Quit Your Job And Start A Business    

Stretch Yourself Anew    

What Makes You Tick    

Finding The “Good” In Good-Bye    

How Do You Define Success      

Visualizing The Life You Want (Part II)    

Climbing The Stairway To Success    

Take your oars.
You don’t want to just float, so grab your oars. These are things you can do to steer you in the right direction – like take a class or get a part-time job in a field you think might be interesting.

Bring your flare gun.
Prepare to market yourself – spruce up your resume and cover letter. Think creatively so you get the attention of the right people.

Our Bigg Quote today comes from George William Curtis.

“It is not the ship so much as the skillful sailing that assures the prosperous voyage.”

You are the captain of your own ship. Usually you will persist and stay with the course. But occasionally, the best thing you can do is to find a new ship and start your journey anew. Bon voyage!

Next time, we’ll answer a question for one of our newsletter subscribers. He wants some tips on wooing potential investors over dinner. We’ll talk about how to be dashing while dining!

Until then, here’s to your bigg success!

Does It Pay To Be Smart?

 
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We ran across an interesting study about what your IQ says about how rich you’ll be. The study was conducted by Jay Zagorsky, an economist at Ohio State University, and published in the journal, Intelligence.

Zagorsky measured the income and wealth of people who were 40 to 47 years old. He sorted the data by IQ level.

Does it pay to be smart? Yes … and no.

Yes, it pays to be smart.
Zagorsky’s study confirmed what previous studies had shown. People with higher IQs tend to have higher incomes. We wonder if it’s a function of IQ or if educational attainment plays in – since it’s also been proven that higher levels of education tend to result in higher incomes.

Regardless, people with above-average IQs tend to earn more.

No, it doesn’t pay to be smart.
Zagorsky found that people with lower IQs are just as wealthy, perhaps even more so, than people with high IQs! Zagorsky defines wealth as assets minus liabilities. How much you own compared to how much you owe.

Few people with below-average IQs had high income. However, a relatively large number of them had a high net worth.

It turns out that people with higher IQs were MORE likely to have trouble paying bills, have maxed out credit cards, and have declared bankruptcy, than people with lower IQs.

Why aren’t smart people rich?
Zagorsky offers several theories for why being smart doesn’t necessarily lead to being rich. It’s possible that smart people are more confident in their ability to earn more money, so they spend more money. Perhaps they feel they can take more risk, because they can make more money if they need it.

We wonder if it’s not because of the age group. People with IQs below the norm probably started working earlier, on average, than people with high IQs, who were earning advanced degrees. So people with lower IQs have had more years in the workforce. Will people with high IQs catch up with them over time?

Smart or not, we’re only human!
What this study really confirms is a timeless principle – the real secret to accumulating more wealth is to spend less than what you make. How profound!

We’re all human – some smarter than others. However, we’re all subject to that human trait that makes us spend as much as we make. Make more … spend more.

Do you remember the secret to begin accumulating wealth, as told in The Richest Man in Babylon?

A part of all you earn should be yours to keep.

If you don’t spend it, you’ll always have it. And more – because your money will make money for you if you invest it right.

For whatever reason, people with below-average IQs seem to do a better job of that than people with above-average IQs. At least according to this study.

What do you think? Why do people with lower IQs have more wealth? What tips do you have for managing money? Let us know.

Our bigg quote today is by Benjamin Franklin.

“A penny saved is a penny earned.”

It’s smart to save money, because being smart with your money is money in the bank.

Next time, we’re going to talk about your own personal SWOT analysis – analyzing strengths, weaknesses, threats, and opportunities. It’s a follow up to Visualize The Life You Want and Live Your Dream Life With Purpose.

If your goal is to save more money, learn how to achieve that goal with our Bigg Goal-Setters Workbook. It’s free when you subscribe to our free weekly newsletter. We bet you’re smart enough to recognize that for the deal it is!

Until next time, here’s to your bigg success!

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