Eating the Elephant

Eating the Elephant
By Brian Tracy

You have heard the question, “How do you eat an elephant?” The answer is, “one bite at a time.” This metaphor applies to achieving any big goal, as well. How do you achieve a huge goal? You accomplish it one step, one task, one measure at a time.

Identify Your Most Valuable Task
Ask your boss, “What one thing do I do that is more valuable than anything else?” Whatever his or her answer, look for ways to perform more and more of that task and to get better and better at doing it. It is absolutely amazing how much you can accomplish if you break your tasks down into bite-sized pieces, set deadlines, and then do one piece at a time, every single day.

Continuous and Never Ending Improvement
If you want to increase your hourly rate and your income, look for ways to get a little bit better at the most important tasks you do, every single day. Read one hour per day in your field. Listen to audio programs on your way to and from work. Take additional courses whenever you can. These activities will propel your entire career onto the fast track. When you invest an extra one or two hours per day in self-improvement, the cumulative effect on your greater ability to get results can be extraordinary.

Save Your Pennies and the Dollars Will Save Themselves
If you want to become wealthy, begin to question every single expense. Set a goal to save $3, $5, or $10 per day. Put this money away in a savings account and never touch it. As it grows, invest it carefully in well-chosen mutual funds or index funds. Make daily, weekly, and monthly saving and investment into a habit, and keep it up for the rest of your working life.

Become a Learned Person
If you read fifteen minutes each evening, rather than watching television, you will complete about fifteen books per year. If you read the classics of English literature for fifteen minutes each day, in seven years you will have read one hundred of the greatest books ever written. You will be one of the best-educated and most erudite people of your generation. And you can achieve this just by reading fifteen minutes each evening before you go to bed.

Increase Your Income
If you are in sales and you want to increase your income, keep careful track of how many calls, how many presentations, how many proposals, and how many sales you are making each day, each week, and each month. Then set a goal to increase your number of calls, presentations, and proposals per day. Set a goal to increase your number of sales each week and each month. Every day, measure yourself against your own standards.

If You Measure It, You Can Manage It
In each area of your life, analyze your activities carefully and select a specific number that, more than anything else, determines your level of success in that area. Then focus all of your attention, all day long, on that specific number. The very act of focused attention will cause you to perform better in that area, both consciously and unconsciously.

Action Exercise
Set a minimum, specific amount for daily, weekly, monthly saving and investment, discipline yourself to put away those amounts.

 

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    The Laws of Negotiating

    The Laws of Negotiating
    By Brian Tracy

    The Laws of Negotiating are closely related to economics. They are part and parcel of the same process. Both economics and negotiating are based on the fact that each person places different values on different things. Everyone behaves economically in the sense that they always strive to negotiate the very best situation or result for themselves in each situation.

    The Universal Law of Negotiating
    Everything is negotiable. All prices and terms are set by someone. They can therefore be changed by someone. Prices are a best-guess estimate of what the customer will pay. The cost of manufacturing and marketing a particular product or service often has very little to do with the price that is put on it. Don’t be intimidated by written prices, assume that they are written in pencil and can be easily erased and replaced with something more favorable to you. The key is to ask.

    The Law of Futurity
    The purpose of negotiation is to enter into an agreement such that both parties have their needs satisfied and are motivated to fulfill their agreements and enter into further negotiations with the same party in the future.

    The Law of Win-Win or No Deal
    In a successful negotiation, both parties should be fully satisfied with the result and feel that they have each “won” or no deal should be made at all. When you are determined to achieve a win-win solution to a negotiation, and you are open, receptive, and flexible in your discussions, you will often discover a third alternative that neither party had considered initially but that is superior to what either of you might have though of on your own.

    The Law of Unlimited Possibilities
    You can always get a better deal if you know how. You never need to settle for less or feel dissatisfied with the result of any negotiation. If you want a better deal, ask for it. You will be quite astonished at the better deals you will get by simply asking for a lower price if you’re buying and asking for a higher price if you’re selling.

    The Law of Timing
    Timing is everything in a negotiation. Whenever possible, you must plan strategically and use the timing of the negotiation to your advantage. If you are in a hurry to close a deal, your ability to negotiate well on your own behalf diminishes dramatically. The person who allows himself or herself to be rushed will bet the worst bargain. You resolve 80 percent of the vital issues of any negotiation in the last 20 percent of the time allocated for the negotiation.

    The Law of Terms
    The terms of payment can be more important than the price in a negotiation. You can agree to almost any price if you can decide the terms. It is important to never accept the first offer no matter how good it sounds. Act a little disappointed when you hear the first offer, and then ask for time to think about it. Realize that no matter how good the first offer is, it usually means that you can get an even better deal if you are patient.

    Action Exercise
    Whenever possible, talk to someone who has negotiated the same sort of deal with the same person. Find out what the other person is likely to want and what he or she has agreed to in the past. Forewarned is forearmed!

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