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8-16 Education Moment: The Five Hour Rule

Posted by on Aug 17, 2016 in Education

  • Bill Gates
  • Elon Musk
  • Warren Buffet
  • Mark Zuckerberg
  • Mark Cuban
  • Arthur Blank
  • Dan Gilbert

All of these people have at least two things in common.

The first: They’re all self-made billionaires.

The second: They all follow the five-hour rule.

The five-hour rule is the practice of setting aside at least 5 hours a week for deliberate practice or learning. These are incredibly busy people running gigantic business empires, and each and every one of them find at least 5 hours a week for deliberate education or practice of their craft.

Most professionals focus on productivity and efficiency and not improvement. So if you follow the five-hour rule, that investment in improvement can put you at a huge advantage compared to everyone else.
Conduct yourself like a self-made billionaire, and practice the five-hour rule.

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The BNI Boat Cruise

Posted by on Jul 29, 2016 in Dance Card

Members of BNI Chapter 15 at the annual boat cruise

Members of BNI Chapter 15 at the annual boat cruise

A fun evening was had by all at the annual Manhattan BNI boat cruise. 16 members of the chapter were there for a fun evening filled with food, booze, networking, and some intermittent drizzle.

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New Beginnings – 4/5/16

Posted by on Apr 13, 2016 in Education

“Coming together is a beginning; keeping together is progress; working together is success.” – Henry Ford.

Coming together is a beginning

This morning is a beginning. We have come together from chapter 18 and chapter 30 to begin as chapter 15. Beginnings can be challenging; new faces and names to remember, new stories to understand, and the anxiety that comes with trying to develop new relationships. There is another word for anxiety though: excitement.

Keeping together is progress

For us to progress, we must embrace that excitement. It is up to each of us to meet with each other, get to know the new faces, and put in the time and effort necessary to build new relationships. In order to keep us together, we must grow together, and new relationships don’t grow on their own; they require nurturing.

Working together is success.

And with the proper nurturing, these new relationships will flourish. Keeping together will no longer require effort, and we will begin to work together. There is an African proverb that says “Many hands make light work.” Let us join our hands, working together towards success.

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Boldness Has Genius, Power, and Magic in it – 3/22/16

Posted by on Mar 21, 2016 in Education

“Whatever you can do, or dream you can do, begin it. Boldness has genius, power, and magic in it.” ~Goethe

Boldness has genius, power, and magic in it.

John Paul DeJoria was born in 1944 to poor immigrant parents in Los Angeles. His parents divorced when he was two years old and by nine he was selling Christmas cards to help support the family.

When his single mother could no longer support her two sons, they were sent to foster care. In high school, he was a member of a street gang and was told by a math teacher that he would never succeed at anything in life.

After high school and spending two years in the Navy, he struggled to find direction in his life. He bounced from one job to the next struggling to make ends meet, often turning in bottles and cans to help support himself.

In 1966, his wife took all their money, and left him, alone, with their two-year-old son. He found himself homeless for the first time.

In 1980, he and a friend spent their last $700 to start a business. They found an investor willing to invest half a million dollars but on the day the money was supposed to arrive, it didn’t. The money never arrived. So John Paul found himself homeless once again and living out of his car.

The universe had dealt John Paul a terrible hand. Most people would give up. Curse the hand that fate had dealt. Not John Paul.

He went door-to-door selling his product while living out of his car. The company did well. Very well. And in 1989 he started a second company. And that company did well too. Very well.

John Paul DeJoria is not living out of his car anymore. Today, he is worth $2.8 billion dollars.

You may be familiar with John Paul Dejoria’s companies: Paul Mitchell Systems and Patron Tequila.

Whatever you can do, or dream you can do, begin it. Boldness has genius, power, and magic in it.

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3-8-16 Education Piece – Persistence Pays Off

Posted by on Mar 12, 2016 in Education

Everyone joins BNI for one reason: more business. We are all here for referrals and leads which will lead to new business. What if I told you that you could close a greater percentage of your prospects doing one simple trick?

The trick is persistence.

Only 2% of sales are closed on the first meeting. That means one out of every 50 first meetings you take will result in a sale.
Studies have shown that only 20% of sales leads are ever followed up on, but 80% of sales are closed after 5 or more follow-ups. 80%!
And even though 80% of sales occur after 5 or more follow-ups:

  • 44% of sales people give up after one no
  • 22% give up after two nos
  • 14% give up after three nos
  • 12% give up after four nos

Meaning only 8% of sales people keep following up past four nos where 80% of the sales are made. If you’re looking to close more deals, be persistent and keep following up.

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