Be glad you don’t live in Norway

“The past does not define you, the present does.”
- Jillian Michaels

It sometimes seems to me like this country is torn up with envy.

(By the way, I hope you had a great weekend. Mine was nice and slow at home with the family–enjoying the holidays together. Is it just me, or can the “holiday” season be not quite a holiday?)

With this economy still not yet recovering, there are still plenty of families that are doing just fine–even thriving. But it’s not considered very kind to demonstrate one’s prosperity in this environment, which is perfectly understandable.

But, whatever your specific situation, I suggest that you make a clear and sustained effort to keep your eyes off the situation of those around you–and continue to focus on what YOU can do to grow your family’s wealth and joy. Really, it’s the only thing which you can actually control.

Envy truly sucks the joy out of your life…but it could be much worse than it is in this country. We could live in Norway.

A few weeks ago marked the annual release of EVERYBODY’S tax records to the general public in Norway–giving any interested party a precise picture of their neighbor’s annual income and wealth.

(Story here: http://finance.yahoo.com/news/Lutefisk-and-loot-Tax-records-apf-2955581855.html?x=0&.v=1&.pf=taxes&mod=pf-taxes )

How do you think that would be for feeding envy, huh?

Well, I prefer to MODEL what really wealthy people are doing…which is why I’m passing along this Strategy Note about how to create true wealth breakthrough.

Let me know your thoughts!

“Straight Talk” Personal Strategy
The Billionaire’s Strategy For Success

John Paul Getty became the richest man in the world during his time by practicing a few basic principles of risk-taking and reward throughout his life. I’ve gathered them for you-regardless of if you run your own business, they apply.

How To Assess A Decision
Whenever John Paul Getty was considering a business decision, he would ask, “What’s the worst possible thing that could happen in this situation?” Then, when he was clear about the worst possible outcome, he focused all his attention on making sure that it didn’t happen. You should apply this technique to every risk situation or investment you ever make.

The Billionaire’s Strategy for Success
Remember Murphy’s Law: “Whatever can go wrong will go wrong.” There are several secondary laws to Murphy’s Law, such as “Whatever can go wrong will go wrong at the worst possible time” and “Of all the things that can go wrong, the most expensive thing will go wrong at the worst possible time.”

Another sub-law is “Everything takes longer than your best calculation.” Whenever I get together with business owner friends, many of them ask me how I think about this issue. When that happens, I suggest that they take their very best estimate of break-even for any business venture and then triple it to arrive at a more realistic number. I’ve found that whenever I encourage a friend about this, they are amazed to find that, in spite of their best initial calculations, it indeed takes about three times longer than they thought it would to start making money.

Always Add A Fudge Factor
Another sub-law is “Everything costs more than you can possibly anticipate in advance.” In minimizing risk in any venture, always add a “fudge factor” to account for the degree of uncertainty. Whenever I do a business plan, I always add 20 percent to the total of all costs that I can identify, to come up with the probable cost. Anything less than this, whether in business or your personal life, is likely to be an exercise in self-delusion and open you up for some unhappy surprises. Once you have identified the worst possible things that could go wrong, make a list of everything that you could do to offset these negative factors. Engage in what is called “crisis anticipation.” Look down the road, into the future, and imagine every possible crisis that could arise as the result of changing external circumstances.

Do The Things You Fear
One of the very best ways to develop your ability to take intelligent risks is to consciously and deliberately do the things you fear, one step at a time.

A very good way to overcome the fear of risk taking is to set clear, written, measurable goals for yourself, and then to review those goals regularly. When you have clear goals and plans, and you continually work on them and evaluate your progress each day, you will see what you’re doing right and how you could improve your performance. You’ll feel more competent and capable and better about yourself. You’ll become more thoughtful and reflective and willing to take on even greater challenges. You’ll feel like the “master of your fate and the captain of your soul.” And your likelihood of success will become greater and greater.

Action Exercises
Now, here are three steps you can take immediately to put these ideas into action.

First, take any worry situation in your life today and ask, “What is the worst possible thing that could happen?” Then go to work to make sure it doesn’t occur.

Second, look into the future in your life and determine the worst things that could happen. Engage in “crisis anticipation” regularly and continually be taking steps to guard against them.

Third, work from clear, written goals and detailed plans. Review them regularly. Consider alternatives and always look for ways to increase the likelihood of your success.

I hope this helps!