If you're interested in creating true Financial Freedom for yourself and your family, there are some lessons that we've learned that we think you'll find helpful on your journey. Here's a quick reminder of some of them.
The final important lesson may take a little explaining:
Thoroughly understand the principle of 16x and apply it in your life. The results will astound you.
This refers to "The Breakthrough Principle of 16x" by Richard Koch - a fascinating book which divulges a ready-to use innovation process for getting 16 times better results... all with no more effort or energy than you currently expend.
Here's a small excerpt from the preface of "The Breakthrough Principle of 16x" that neatly summarises why we adhere to this lesson.
So how did it go for you this morning? Most likely you climbed out of bed at about the usual time. Then you hit your routine — a familiar pattern of steps that involve getting cleaned up, clothed, and maybe caffeinated to face the day. Heading into your closet, what did you pick to wear? There’s little doubt, out of all the articles of clothing you have to choose from, only a handful were even considered as you got dressed. The same 20 percent of your garments are what you end up wearing 80 percent of the time. Now think of all the toiletries in the cabinets, drawers, and shelves of your bathroom. How much of that stuff do you actually use these days? It’s a safe bet: The same 20 percent of those many personal items are all that you use 80 percent of the time. The rest is pretty much clutter. You hardly ever touch it... And so unfolds the ordinary, everyday proof of a remarkable principle at work in your life. It’s called the 80/20 principle.... But there’s another principle that follows from the 80/20 concept, one that isn’t so well known. And it holds the secret to stunning performance breakthroughs on the job as well as in your personal life. This related principle is about practical, down-to-earth innovation... It’s the new story of the “16 times” principle, or 16x for short. The 16x principle positions you to multiply your effectiveness by a factor of 16. Let’s go over that again, and make sure it sinks in. You can use the 16x principle to become super-productive... to achieve results which are 16 times better than what you’ve been getting. Maybe even more. And you can do this without experiencing a smidgen more stress or strain. Just like the 80/20 principle that underlies it, the 16x principle belongs to everybody. It can work for anyone and everyone... (b)ut the important thing is to discover how powerfully it can work for you.
Extract taken from:
Koch, R., 2005. The Breakthrough Principle of 16x. 1st ed. Dallas: Pritchett, LP.
We hope these lessons were effective in helping you to think about your values, focus, drive and your life in general. If you'd like more detail about any of them just ping us an email and ask!
If you enjoyed this article, why not try some of our other articles on the philosophy behind Financial Freedom: