TOP 10 INSIGHTS FROM 150 CONVERSATIONS ON JOYFUL PROSPERITY

Through interviews and questionnaires with individuals who have achieved or are striving toward joyful prosperity, we’ve uncovered invaluable insights. These findings distill years of wisdom and experience into practical lessons designed to inspire and guide those embarking on their own journey to a life of balance and fulfillment.

1.??? Be the best in what you do - Skills in Financial Freedom Equation

One of the best pieces of advice that emerged from my interviews was: "Be the best in what you do, and you will never have to worry about money." To do this, you need to have exceptional skills that can be monetized. In short, you need to keep your skills sharp and continually strive to be the best at what you do. This is the best way to achieve financial freedom.

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Many of the individuals I interviewed who had achieved financial freedom had reached key positions in global multinationals. This is only possible by having world-class skills, as the competition is global. Others who achieved financial freedom through entrepreneurship excelled in risk management, identifying opportunities, and not fearing failure. Some lost their wealth but took it as a learning experience to create even more.

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The concept of being the best in what you do, encompasses several excellent ideas. One is that no amount of money is ever truly enough, as catastrophic events (black swam events) or significant losses can occur. There are examples of very wealthy people who lost all their wealth. However, individuals with the right skills, energy, and mindset can recreate their wealth. Take, for example, George Foreman. After retiring from boxing, he faced financial difficulties and lost much of his earnings. Foreman made a remarkable comeback, returning to boxing at the age of 45 and winning the heavyweight title. He later achieved substantial abundance through his endorsement of the George Foreman Grill, which became a huge commercial success. Another example is Henry Ford. Before founding the successful Ford Motor Company, Ford experienced several business failures. His first two automobile companies, the Detroit Automobile Company and the Henry Ford Company, both failed. Despite these setbacks, Ford's innovation with the assembly line and the Model T revolutionized the auto industry and built his fortune.

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The second key thought is to develop, ‘Focus.’ To be the best requires a high level of focus and discipline. Digital revolution has done some outstanding service to humanity but has its limitations as well. One of the biggest is the decrease in attention span. It’s hard for people to focus and want shortcuts. The knowledge for many is through social media with much of it cannot be verified.

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In my view there are no shortcuts to honing world class skills, it requires practice, practice and more practice with a focused mind. Let’s take the example of Jahangir Khan, arguably the greatest squash player of all time. Here are his accomplishments:

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1. World Open Titles:?Jahangir Khan won the World Open (now known as the World Squash Championships) six times (1981, 1982, 1983, 1984, 1985, 1988).
2. British Open Titles:?Jahangir Khan won the British Open ten times consecutively from 1982 to 1991.
3. Unbeaten Streak:?Jahangir Khan had a remarkable unbeaten streak of 555 consecutive matches from 1981 to 1986, which is one of the longest winning streaks in sports history.

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No one has surpassed Jahangir Khan's record for the longest unbeaten streak in squash or his number of consecutive British Open titles. His records and dominance in the sport remain unparalleled. To leave a champion's legacy, Jahangir Khan practiced for several hours on the squash court daily. He often trained for 6 to 8 hours a day, focusing on technique, strategy, and fitness. His training included physical conditioning, running, weight training, and agility exercises. This comprehensive fitness regime helped him maintain his stamina and strength during matches.

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Additionally, Jahangir worked extensively on his mental game. He believed that mental toughness was as important as physical fitness. He practiced visualization techniques, imagining different match scenarios and preparing himself mentally for various challenges. Jahangir's discipline was unmatched. He maintained a strict diet and sleep schedule, ensuring his body was always in peak condition for training and matches.

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He was a world-class, focused, and disciplined sportsman. The sacrifices he made helped him become a legend of the sport.

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What it means to be the best?

"Best" is a relative term. It can mean being the best in a family, village, community, city, country, region or the world. The financial reward for skills varies based on the continuum of mastery and how useful those skills are to others. The more valuable the skill, the higher the value you will command. Being the best is about continual self-improvement, not competing with others but perfecting oneself. It's about honing skills to levels that are difficult to match and monetising them to earn top dollars, meeting the rhythms of life for joyful prosperity.

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The journey of personal improvement and excellence has no destination; it's about sharpening one's skills daily to live a life of higher consciousness and using those skills to generate value for oneself and others.

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The journey of skill mastery starts with identifying the skills you have or have a spark that can be developed into a fiery skill and then working tirelessly to perfect them. No work is small; it's the attitude that makes it big or small. If you can do your job with excellence, regardless of its size, it will be noticed and lead to higher responsibilities. The point is to improve ourselves and our skills every day through practice. The concept of small, consistent improvements leading to significant long-term results is central to both the teachings of Masaaki Imai in Kaizen and James Clear's "Atomic Habits."

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Kaizen, a term popularized by Masaaki Imai, is a Japanese business philosophy that emphasizes continuous, incremental improvement. The idea is that small, daily changes can lead to major improvements over time. Kaizen was originally developed to improve manufacturing processes and efficiency in Japanese factories and later adapted to various sectors, including personal development.

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Atomic Habits, a book by James Clear, elaborates on how tiny changes can lead to remarkable results through the power of habit formation. Clear argues that success does not come from major, once-off changes but from the cumulative effect of small habits repeated over time. He focuses on how these habits influence identity and how reinforcing positive habits can lead to substantial personal and professional growth.

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Both philosophies advocate for the power of incremental improvements and share a common understanding that small, consistent actions can lead to profound and lasting change. The point is to be the best you have to improve yourself every day to reach world class level overtime. The biggest challenge with most of us is that we are judged all the time and focus too much on wanting to bring everyone to our way of thinking, rather than leaving others to themselves and focus on improving just one individual - yourself. If others are doing well or poorly it’s their problem. By commenting and sharing judgments is not going to change them but will annoy others and that negative energy will affect you, resulting in wasting your time and energy. Stay away from habits that don’t lead to joyful prosperity.

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We should strive to compete with ourselves at our own level. The next memo should be better than the last, the next marketing campaign should be more successful, the next exercising session should be more calorie burning than the last, and the new financial forecast should be more accurate. It's about inner healthy competition to continually improve, expand capabilities, and create top value for others, thereby becoming more valuable and generate higher value.

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2.?? Priority to provide for the family and extended family – Mindset in the financial freedom equation

Fear is a scourge, but it can also be a powerful motivator. For the financially independent individuals I studied, one of the primary motivations was the desire to provide the best life for their families, escape the memories of a financially challenging past and avoid any financial upheaval that could negatively impact their loved ones. In their case, fear served as a catalyst to excel, invest wisely, and manage risks effectively.

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Prioritizing the well-being of one's family and extended family is a common theme among those who have achieved or are on the path to financial freedom. Their stories highlight the importance of building a secure financial foundation to protect their families from potential hardships. This sense of responsibility often drives individuals to work harder, make informed investment decisions, and manage risks prudently.

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The beauty of joyful prosperity is that once you achieve it and maintain it to ensure a pleasant life, you can start to share a portion of your surplus wealth with extended family and those in need. This act of giving is an expression of gratitude for what you have received from God and those who have supported you on your journey. Generating abundance is crucial because you cannot give what you do not have. Despite having the best intentions, if you lack the financial means, you cannot help others. Thus, a key element of joyful prosperity is the ability to give.

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Many of the individuals I interviewed mentioned that they are actively involved in supporting more people and engaging in charity work, which brings them immense satisfaction. Having done enough to secure their family's future, they are now focusing on helping others. This transition from personal financial security to philanthropy underscores the true essence of joyful prosperity—using one's abundance to create a positive impact on the lives of others.

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Once they have ensured their family's financial security, these individuals often turn their attention to giving back to their communities. They recognize that wealth is not just about personal gain but also about the capacity to help others. This generosity creates a ripple effect, spreading positive impacts beyond their immediate circle.

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In conclusion, the motivation to provide for one's family and the ability to give back are integral components of joyful prosperity. By focusing on these aspects, individuals can achieve a fulfilling and balanced life, using their wealth to create lasting positive change for themselves and others.

Next learnings to follow soon...