AS1-Mike-KoenigsIn this excerpt from the first Action Seminar, Mike Koenigs describes his personal formulas for success in business.

Success Formulas. OK. A couple of success formulas. Here is what I got from interviewing a lot of people for the movie.

Number one is clarity of vision. Again, it is “Think and Grow Rich” material.

Theater of the mind…already did that.

Becoming attractive to what you desire. Again, it is not the money, it is what the money will bring you, or what you think it will bring you. But, if it is a mentor, who do I need to become right now to become attractive to (name your mentor). Joe Sugarman, John Carlton. It is what qualities do I need to have?

Eliminating repetition. Recognizing patterns. Again, the way to wealth is finding something that works and being able to repeat it. Either mechanize it, systematize it, or find people to do it for you, outsource…that’s kind of a big “duh”.

This is a huge one…Don’t ask for anything that doesn’t benefit others. So, back to the psychic vampires. Any time I see a certain number come up, I see the name, I know that person. Don’t hear from them unless they are asking for something. And it usually is going to suck. And there will be no value to me or the people I care about. Am I going to take that call? Absolutely not. Will I ever return that call? Absolutely not. Do they have any credibility in my life? Absolutely not.

But, if you get a call from someone where it is always “I’ve got a gem for you. I think it is going to double your income. One little thing and I will do all the work. Only pay me if it turns around, I guarantee it won’t damage your brand.” Do you think I will take that call? Right?

So, this is a big mistake newbies make and most people make in any business situation.

Consistency and discipline. Classic Brian Tracy things. He has become a good friend recently and I highly recommend his material, as well.

I am going to move on to some case studies. Oh, a journal. Never walk anywhere without a notebook or a journal. Consistently I see people who are failures in life don’t write stuff down. They don’t know how to think or act in a disciplined way and they don’t think or act with specificity.

Specificity is the key.

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