Journal logo

A Short Summary of the Seven Mindsets Discussed in 'The Seven Mindsets of Success' by Sten Morgan

This was a great book and I want to tell you about the author and why you should listen to him.

By Kyle MetcalfPublished 6 years ago 5 min read
Like

This was a great book and I want to tell you about the author and why you should listen to him. Sten was a successful Financial Advisor at Raymond James but, at 25, he decided to start his own Financial Planning firm called “Legacy Investment Planning.” In just five years, he acquired $120mm in assets. Most people in this industry don’t reach those numbers until they have been in the business 15-20 years, and there are even more who never reach that amount their entire careers. The fact that Sten did this in such a short amount of time at such a young age is practically unheard of. The Seven Mindsets of Success explains the mindsets that he adopted to reach what he calls “Rapid Top-Level Success...”

Mindset #1: Future Self

This mindset is about holding yourself accountable. Decide where you want to be in five years. What goals do you have and what do you want to accomplish financially and in life? Make sure the timeline for your future self is three to five years. Ten years is too long. Now, ask yourself: “Would my future self be pleased with the actions I’m taking to reach my goals”? Ask yourself that question every day.

Mindset #2: The Safety Net

We are capable of much more when we have the resolve that failure is not an option. Taking extreme risks, where to fail would mean a total loss, is the fastest way to success. What is the safety net that saves you from losing everything if you fail? A comfy salary? Money from family? Find out what that is and remove it. Take away the safety net and you will be forced to take higher risks to reach success faster.

Mindset #3: Perspective

You need to get perspective from others and ask for feedback. Make sure you’re not taking advice from some burn-out or someone that’s not an action taker. Find a mentor if you don’t have one already. To maximize productivity, we must live in reality. Other’s perspectives can sometimes see our reality when we can’t. Look at the Johari Window Model. We shouldn't spend time defending the boxes where we think we know something and others don't. Just listen to perspective and let it marinate in your brain. You need to focus on the information that is going to make you successful. You need to have a “Growth Mindset” which is realizing you are in control and that you can learn from your mistakes. Also, learn from other’s mistakes. Read books and discover successful people’s failures. Here’s an example: when I was 19 I wanted to start a landscaping company. My plan was to do quality work so I wasn’t planning on being the “cheapest,” but I did want to be the best. I figured that if I could land a few large contracts with builders, I would be set. I set up a meeting with a guy that owns a successful landscaping company and does landscaping on houses in River Oaks, Houston’s most elite neighborhood. He said he had tried to go the builder route and he found that builders are very cheap and stingy, especially when it comes to landscaping. After a 30 minute conversation with this guy, I realized my plan wouldn’t work, and I also realized that I didn’t want to start a landscaping company! A 30 minute conversation saved me from starting a business that I would’ve hated with a “doomed-to-fail” business model.

Mindset #4: Circumstances

Only focus on what you can control and change. Oscar Pistorius had both of his legs amputated when he was 11 months old, yet he became the first amputee to participate in an Olympic race in the Summer Olympics of 2012. Oscar did not complain about his circumstances, instead he trained non-stop and became an Olympian. Successful people hyper-focus on ONLY things they can control. Unsuccessful people complain about circumstances and hyper-focus on what they can’t control. Step one is being aware of what you can control. Step two is asking yourself what you can do about it.

Mindset #5: Discomfort

Successful people don’t avoid discomfort, they pursue it. You can’t grow if you live in your comfort zone. The only way to continue to grow as a person is by LIVING outside of your comfort zone. Actively approach your fears and attack them. Very simple and straightforward, yet extremely difficult for most of us.

Mindset #6: Conflict

Conflict is a good thing. It will help you bring clarity to relationships, which are healthy, which need to end, which need to be strengthened. Getting more real in a relationship will make the relationship better. Don’t avoid difficult conversations. Get them out of the way as soon as you can.

Mindset #7: Time Balance

Contrary to popular belief, you do not have to sacrifice EVERYTHING in order to be successful. Be intentional with your time. Focus on one task at a time to complete each task faster in order to get as many tasks completed as you possibly can. Focus on your current task and always push the boundaries so you can get better. Remove distractions such as social media so you can give your current task your full attention. Ask yourself; “what’s the one thing I can do today that will make everything else easier or unnecessary”? Plan your day the night before so that you know what to prioritize and what to get done first. You need to know where you want to be in order to prioritize your tasks so you can effectively determine where and how to spend your time. Continue to break down what you’re doing, what you’re good at, and what you need to improve. Address your weaknesses and come up with strategies to overcome them. Learn to delegate your tasks to be more effective with your time.

I give this book 5 out of 5 stars.

In conclusion, you need to be clear one thing: WHY? You need to know why you are doing this and why you want to be successful. Otherwise, your enthusiasm will fade and you won’t reach the levels of success that you want to reach.

Click for Your FREE trial!

book review
Like

About the Creator

Reader insights

Be the first to share your insights about this piece.

How does it work?

Add your insights

Comments

There are no comments for this story

Be the first to respond and start the conversation.

Sign in to comment

    Find us on social media

    Miscellaneous links

    • Explore
    • Contact
    • Privacy Policy
    • Terms of Use
    • Support

    © 2024 Creatd, Inc. All Rights Reserved.