Tuesday, September 10, 2013

The Most Successful People Practice Better, Not More

How long does it take to become elite at your craft? And what do the people who master their goals do differently than the rest of us?
That’s what John Hayes, a cognitive psychology professor at Carnegie Mellon University, wanted to know.
For decades, Hayes has been investigating the role of effort, practice, and knowledge in top performers. He has studied the most talented creators in history — people like Mozart and Picasso — to determine how long it took them to become world class at their craft. Furthermore, he has investigated the choices and experiences that have led to their success.
Let’s talk about what Hayes has discovered about world class performers. And more importantly, let’s discuss how you can use these insights to achieve your goals and become your best.

“10 Years of Silence”
Hayes started his research by examining successful composers. He analyzed thousands of musical pieces produced between the years of 1685 to 1900. The central question that drove his work was, “How long after one becomes interested in music is it that one becomes world class?”
Eventually, Hayes developed a list of 500 pieces that were played frequently by symphonies around the world and were considered to be the “masterworks” in the field. These 500 popular pieces were created by a total of 76 composers.
Next, Hayes mapped out the timeline of each composer’s career and calculated how long they had been working before they created their popular works. What he discovered was that virtually every single “masterwork” was written after year ten of the composer’s career. (Out of 500 pieces there were only three exceptions, which were written in years eight and nine.)
Not a single person produced incredible work without putting in a decade of practice first. Even a genius like Mozart had to work for at least ten years before he produced something that became popular. Professor Hayes began to refer to this period, which was filled with hard work and little recognition, as the “ten years of silence.”
In followup studies, Hayes found similar patterns among famous painters and popular poets. These findings have been further confirmed by research from professors like K. Anders Ericsson, who produced research that revealed that you needed to put in “10,000 hours” to become an expert in your field. (This idea was later popularized by Malcolm Gladwell.)
However, as Hayes, Ericsson, and other researchers started digging deeper, they discovered that time was merely one part of the equation. Success wasn’t simply a product of 10 years of practice or 10,000 hours of work. To understand exactly what was required to maximize your potential and master your craft, you had to look at how the best people practice.


From Robert, trainer for Team USA:
I was invited to Las Vegas to help Team USA with their conditioning before they headed off to London. I’ve had the opportunity to work with Carmelo Anthony and Dwyane Wade in the past, but this would be my first interaction with Kobe.
The night before the first scrimmage, I had just watched “Casablanca” for the first time and it was about 3:30 AM.
A few minutes later, I was in bed, slowly fading away, when I heard my cell ring. It was Kobe. I nervously picked up.
“Hey, uhh, Rob, I hope I’m not disturbing anything right?”
“Uhh, no. What’s up Kob?”
“Just wondering if you could help me out with some conditioning work, that’s all.”
I checked my clock. 4:15 AM.
“Yeah sure, I’ll see you in the facility in a bit.”
It took me about twenty minutes to get my gear and get out of the hotel. When I arrived and opened the room to the main practice floor, I saw Kobe. Alone. He was drenched in sweat as if he had just taken a swim. It wasn’t even 5:00 AM.
We did some conditioning work for the next hour and fifteen minutes. Then, we entered the weight room, where he would do a multitude of strength training exercises for the next 45 minutes. After that, we parted ways. He went back to the practice floor to shoot. I went back to the hotel and crashed. Wow.
I was expected to be at the floor again at about 11:00 AM.
I woke up feeling sleepy, drowsy, and pretty much every side effect of sleep deprivation. (Thanks, Kobe.) I had a bagel and headed to the practice facility.
This next part I remember very vividly. All of the Team USA players were there. LeBron was talking to Carmelo and Coach Krzyzewski was trying to explain something to Kevin Durant. On the right side of the practice facility Kobe was by himself shooting jumpers.
I went over to him, patted him on the back and said, “Good work this morning.”
“Huh?”
“Like, the conditioning. Good work.”
“Oh. Yeah, thanks Rob. I really appreciate it.”
“So when did you finish?”
“Finish what?”
“Getting your shots up. What time did you leave the facility?”
“Oh, just now. I wanted 800 makes. So yeah, just now.”
For those of you keeping track at home, Kobe Bryant started his conditioning work around 4:30am, continued to run and sprint until 6am, lifted weights from 6am to 7am, and finally proceeded to make 800 jump shots between 7am and 11am.
Oh yeah, and then Team USA had practice.
It’s obvious that Kobe is getting his 10,000 hours in, but there is another part of his story that is even more important.
The Importance Deliberate Practice
Kobe isn’t merely showing up and practicing a lot. He is practicing with purpose.
Kobe had a very clear goal at practice: 800 made jump shots. He was deliberately focused on developing the skill of making baskets. The time he spent doing it was almost an after thought. That sounds simple, but it’s very different from how most of us approach our work each day.
When most people talk about working hard, they use the amount of time they worked as an indicator of how hard they worked. (i.e. “I worked 60 hours this week!”)
Putting in a lot of time might make you tired, but simply working a lot (even if it’s 10,000 hours over the course of your career) isn’t enough to make you a top performer. It’s not the same thing as practicing deliberately. Most people who think they are working hard are merely developing the skill of being in the gym, not the skill of making baskets.
To keep this basketball analogy going, consider this quote about deliberate practice…
Consider the activity of two basketball players practicing free throws for one hour. Player A shoots 200 practice shots, Player B shoots 50. The Player B retrieves his own shots, dribbles leisurely and takes several breaks to talk to friends. Player A has a colleague who retrieves the ball after each attempt. The colleague keeps a record of shots made. If the shot is missed the colleague records whether the miss was short, long, left or right and the shooter reviews the results after every 10 minutes of practice. To characterize their hour of practice as equal would hardly be accurate. Assuming this is typical of their practice routine and they are equally skilled at the start, which would you predict would be the better shooter after only 100 hours of practice?
—Aubrey Daniels

Each player in the example above could brag about practicing for one hour, but only one of them is practicing deliberately.
Researchers have noted that top performers in every industry are committed to deliberate practice. The best artists, musicians, athletes, CEOs, and entrepreneurs don’t merely work a lot, they work a lot on developing specific skills. For example, Jerry Seinfeld’s “don’t break the chain” strategy is all about deliberately practicing the skill of writing jokes.
Applying This to Your Life
Mozart has been called the “genius of geniuses” and even he toiled away for 10 years before producing popular work. I don’t know about you, but I find this inspiring.
I don’t have the natural talent of Kobe Bryant or the sheer brilliance of Mozart, but I’m willing to put in my “10 years of silence.” I’ve only been writing on this site for 9 months, but I see this as the beginning of a 30–year project for me. And because I’m in this for good, I can win with commitment, grit, and unwavering consistency.
You can take the same approach to your work, to your goals, and to your legacy. By combining these two ideas — the consistency of “10 years of silence” and the focus of “deliberate practice” — you can blow past most people.
On a daily basis, this doesn’t have to look big or impressive. And that’s good, because it will often feel like you’re failing. What feels like struggle and frustration is often skill development and growth. What looks like little pay and no recognition is often the price you have to pay to discover your best work. In other words, what looks like failure is often the foundation of success.
Thankfully, just one hour of focus and deliberate practice each day can deliver incredible results over the long–run. And that brings us to the most important questions of all:
Are you working toward your 10 years of silence today? Are you deliberately focused on developing your skills? Or are you simply “putting in your time” and hoping for the best?

Wednesday, August 21, 2013

15 Tycoons Who Won't Leave Their Fortunes to Their Kids

15 Tycoons Who Won't Leave Their Fortunes to Their Kids

Not all of the world's billionaires are dedicated to being extraordinarily altruistic — many decide to spend their money indulging in fancy cars, planes, and yachts.

But others want to spread as much of their wealth as possible before they die. A select few even want that last check to only cover the cost of their funeral.

Of course, not everyone stands to gain from such selflessness — namely, the children of these generous donors.

Though they will still have untold opportunities, advantages, and connections, to help them succeed, the children of these 15 tycoons won't be living large off their inheritances.

—Eric Goldschein also contributed to this story.


1. Business magnate Warren Buffett
REUTERS/Rick Wilking

As an incredibly wealthy investor and philanthropist, Buffett has pledged to give away99% of his wealth, either during his life or when he dies. He started by promising 83% of it to the Gates Foundation, according to FORTUNE Magazine.

The Oracle of Omaha isn't worried about his children not getting their fair share. Echoing a common sentiment on this list, Buffett said in his letter to the Gates Foundation: "I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing."

2. EBay founder Pierre Omidyar

Brian Harkin/Getty Images

Ever since Omidyar became a billionaire when he was 31 years old, the eBay founder has made it his life's work to donate the majority of his money to those less fortunate instead of to his three children, according to Forbes.

He signed the Gates and Buffett Giving Pledge in 2010, and continuously gives eBay shares to the Omidyar Network, his philanthropic investment firm.

He and his wife Pam are also the single biggest private donors to the fight against the human trafficking industry.

3. New York City Mayor Michael Bloomberg

Andrew Burton/Getty Images

Bloomberg gets paid $1 a year for his government duties because with a net worth of $19.5 billion, he's pretty much set financially.  

But Bloomberg is also an avid philanthropist, having donated millions to Johns Hopkins University, the Carnegie Corporation, and thousands of other non-profits.

In his letter to The Giving Pledge, Bloomberg wrote that "nearly all of my net worth will be given away in the years ahead or left to my foundation."

Bloomberg's two daughters, however, may be left to foot the bill upon his death.Bloomberg once said, "the best financial planning ends with bouncing the check to the undertaker."

4. Rockstar Gene Simmons

Frazer Harrison/Getty Images

The bassist for KISS, one of the best-selling American bands of all time, is a self-made man. He was born in Israel, moved to Queens with his mother, and started a group that would end up compiling 28 gold records over the years. 

Simmons wants the same path for his two kids, Nick and Sophie. He told CNBC several years ago: "...in terms of an inheritance and stuff, they're gonna be taken care of, but they will never be rich off my money. Because every year they should be forced to get up out of bed, and go out and work and make their own way."

So the $300 million bucks that belong to Simmons will be headed somewhere else upon his death. 

5. Australian iron magnate Gina Rinehart

Paul Kane/Getty Images

Rinehart — the richest woman in Australia — wants to cut her children out of their inheritance.

She herself inherited her company and fortune from her father, Lang Hancock, and her children were also named in his estate.

But court documents in the Australian media show that Rinehart doesn't believe her four kids are fit to manage the family fortune.

“None of the plaintiffs has the requisite capacity or skill, nor the knowledge, experience, judgment or responsible work ethic to administer a trust in the nature of the trust in particular as part of the growing HPPL Group,” she once claimed in court papers.

6. Microsoft founder and CEO Bill Gates

Stefan Postles/Getty Images

Bill Gates is one of the richest people in the world. But he and his wife Melinda aren't interested in keeping their money for themselves, or for their three children.

"I knew I didn't think it was a good idea to give the money to my kids. That wouldn't be good either for my kids or society," he told The Sun in 2010.

Instead, the Bill & Melinda Gates Foundation was founded in 1994, and today has assets of over $37 billion. The Foundation even started "The Giving Pledge," which invites other wealthy individuals to join the Gates' lead and donate half their money to charity. 

7. Actor Jackie Chan

REUTERS/Jonathan Alcorn

The movie star announced in 2011 that he had decided to give away half his money to charity when he dies. Chan added that he was not planning on leaving his son Jaycee any of the millions of dollars he has made during his film career.

"If he is capable, he can make his own money. If he is not, then he will just be wasting my money," Channel NewsAsia quoted Chan as saying.

8. Home Depot co-founder Bernard Marcus

Bernard Marcus, left (AP Photo/Alan Mothner)

Marcus grew up in Newark, New Jersey to Russian immigrant parents, and went on to start Home Depot. His retail success helped him accumulate $1.5 billion in net worth. His philanthropic efforts include funding the Georgia Aquarium and starting the Marcus Foundation. 

Not wanting his kids to inherit large sums of money — for their own good, he told Forbes — Marcus plans on giving the majority of his Home Depot stock to his foundation, which benefits the handicapped and education.

9. Businessman Chuck Feeney

The Atlantic Wire

Chuck Feeney is the the co-founder of Duty-Free Shoppers Group (those airport shops), and was one of the world's billionaires in the late 1980s until he transferred all his wealth to his foundation, Atlantic Philanthropies, according to Forbes.

Before giving away their inheritance, he also went to great lengths to teach his children the value of saving money, including making his kids chat with their friends on payphones, work during their vacations, and work through college, according to The Daily Mail.

Today, it's rumored Feeney doesn't even own a house or a car. He once famously told The New York Times, "I want the last check I write to bounce."

10. British Chef Nigella Lawson

AP Photo/Lionel Cironneau

Lawson is a best-selling author and TV personality, which made her a millionaire even before she married (and then later divorced) wealthy advertising tycoon and art collector Charles Saatchi.

Though Lawson herself comes from a wealthy background, she seems to be a firm believer in not giving her two children that same advantage. She came under fire for saying, "I am determined that my children should have no financial security. It ruins people not having to earn money."

She followed up that statement by saying she didn't plan on leaving her kids "destitute," but stood by the idea that they would have to support themselves after school ended.

11. Media mogul Ted Turner

Michael Loccisano/Getty Images

Turner is such a prominent philanthropist that he is as famous for giving away money as he is for making it.

After accumulating his wealth through the founding of media outlets like CNN and TBS, Turner has gone on to give literally billions of dollars to causes like the United Nations Foundation

Turner has five children from three marriages, but they shouldn't expect a large endowment once he passes. Whether jokingly or not, Turner was quoted in 2010 as saying he was "almost to the edge of poverty" and just wants enough money to cover funeral expenses when he dies.

12. Hedge fund manager John Arnold

AP Photo/J. Scott Applewhite

John Arnold may only be 40 years old, but last October he closed his hedge fund, Centaurus Energy, and retired after amassing an estimated wealth of $4 billion over the last 10 years.

Now, Arnold and his wife Laura have dedicated the rest of their lives to giving away that wealth through their foundation to support innovative ideas, instead of to their three children.

"Because of our backgrounds and because of our own experiences, we just don't believe in dynastic wealth," said Laura Arnold in an interview posted on givesmart.org.

13. British composer Andrew Lloyd Webber

Jeff J Mitchell/Getty Images

Having racked up hundreds of millions of dollars and becoming a knight thanks to his work as a theater composer, Webber wants to use that money to encourage teaching the arts.

Webber once said that "(A will) is one thing you do start to think about when you get to my age. I don't think it should be about having a whole load of rich children and grandchildren. I think it should be used as a way to encourage the arts."

His five children will be "taken care of," but the majority of the estate will go towards arts programs. 

14. Director and producer George Lucas

AP Photo/Lucasfilm Ltd. & TM, Lisa Tomasetti

Lucas signed on to Bill Gates and Warren Buffett's Giving Pledge back in July of 2010, promising to give at least half of his wealth away by the time of his death.

“I am dedicating the majority of my wealth to improving education,” Lucas wrote in hispledge letter.

The father of four also said in a statement that he would donate the $4 billion+ Disney paid him to acquire Lucas Films to charity as well.

15. Texas oil and gas magnate T. Boone Pickens

Chip Somodevilla/Getty Images

Pickens spent his whole life — from delivering newspapers to taking over Gulf Oil — making money via acquisition. The corporate raider now has a net worth of $1.4 billion because of it. 

So it's no surprise that Pickens isn't in favor of handing his money over for free, even to his children. Pickens is one of America's billionaires to take The Giving Pledge, donating at least half of his money to charity.

And when asked about leaving money for his kids, he had this to say: "I've long stated that I enjoy making money, and I enjoy giving it away...I'm not a big fan of inherited wealth. It generally does more harm than good."

Tuesday, August 13, 2013

STOP YOUR LIMITING BELIEFS: 10 EMPOWERING BELIEFS THAT WILL CHANGE YOUR LIFE

The Power Of Beliefs: How Our Meanings Decide Our Destiny
What is a belief? It’s a feeling of certainty about what something means. The challenge is that most of our beliefs are generalizations about our past, based on our interpretations of painful and pleasurable experiences.
The challenge is, most of us do not consciously decide what we’re going to believe. Instead, often our beliefs are misinterpretations of past events. How do ideas turn into beliefs? Think of an idea like a tabletop with no legs. Without any legs, the tabletop won’t even stand up by itself. Belief, on the other hand, has legs. To believe something, you have references to support the idea—specific experiences that back up the belief. These are the legs that make your tabletop solid and that make you certain about your beliefs.

For example, if you believe you’re extremely intelligent, you likely have a lot of references to back it up. Maybe you did well in school, people always tell you how smart you are, you catch onto things quickly, etc. You can find experiences to back up almost any belief. The key is to make sure that you’re consciously aware of the beliefs you’re creating. If they don’t empower you, change them.
All personal breakthroughs begin with a change in beliefs. The moment we begin to honestly question our beliefs and the experiences we assign to them, we no longer feel absolutely certain about them. This opens the door to replacing your old, disempowering beliefs with new beliefs that support you in the direction you want to go.
If you develop the absolute sense of certainty that powerful beliefs provide, then you can get yourself to accomplish virtually anything, including those things other people are certain are impossible.
Here are ten examples of empowering beliefs to try on:

1. The past does not equal the future.
2. There is always a way if I’m committed.
3. There are no failures, only outcomes—as long as I learn something I’m succeeding.
4. If I can’t, I must; if I must, I can.
5. Everything happens for a reason and a purpose that serves me.
6. I find great joy in little things… a smile… a flower… a sunset.
7. I give more of myself to others than anyone expects.
8. I create my own reality and am responsible for what I create.
9. If I’m confused, I’m about to learn something.
10. Every day above ground is a great day.
Energize and empower your beliefs each morning through the Hour of Power—get your free audio now.
“Beliefs have the power to create and the power to destroy.”
—Anthony Robbins


Thursday, August 8, 2013

The 6 Human Needs: Why We Do What We Do

Why do human beings do the things they do? How is it that one person will sacrifice his own life for another, while another will murder a stranger for sheer pleasure? What creates a Charles Manson or a Nelson Mandela? What is the force that drives and shapes all of our emotions, actions, qualities of life, and ultimately, our destinies?
While each human being is unique, we also share nervous systems that function in the same way. There are also six fundamental needs that everyone has in common, and all behavior is simply an attempt to meet those six needs.

The Six Human Needs

1. Certainty: assurance you can avoid pain and gain pleasure
2. Uncertainty/Variety: the need for the unknown, change, new stimuli
3. Significance: feeling unique, important, special or needed
4. Connection/Love: a strong feeling of closeness or union with someone or something
5. Growth: an expansion of capacity, capability or understanding
6. Contribution: a sense of service and focus on helping, giving to and supporting others
This drive is encoded in our nervous system.
The means by which people meet these six human needs are unlimited. For example, one of the six human needs is the desire for certainty that we can avoid pain and gain pleasure (i.e. comfort). Some people pursue this need by striving to control all aspects of their lives, while others obtain certainty by giving up control and adopting a philosophy of faith. Variety makes us feel alive and engaged. Then there’s the desire for significance—a belief that one’s life has meaning and importance. Some individuals will pursue this need by competing with others, or by destroying and tearing down those around them. Others may strive to fulfill this need through connection with other human beings.
The force of life is the drive for fulfillment; we all have a need to experience a life of meaning.Fulfillment can only be achieved through a pattern of living in which we focus on two spiritual needs: 1) the need to continuously grow; and 2) the need to contribute beyond ourselves in a meaningful way. All dysfunctional behaviors arise from the inability to consistently meet these needs. When our attempts to reach fulfillment fail, we will settle for comfort—or for meeting our needs on a small scale. Look to replace any dis-empowering ways of meeting your needs with things that empower and support you and others.
Understanding these needs, and which ones you are trying to meet in any given moment, can help you create new patterns that lead to lasting fulfillment.

Wednesday, August 7, 2013

The Parable of Brother Leo

The Parable of Brother Leo

A legend tells of a French monastery known throughout Europe for the extraordinary leadership of a man known only as Brother Leo. Several monks began a pilgrimage to visit Brother Leo to learn from him. Almost immediately, they began to bicker about who should do various chores.
On the third day they met another monk going to the monastery, and he joined them. This monk never complained or shirked a duty, and whenever the others would fight over a chore, he would gracefully volunteer and do it himself. By the last day, the others were following his example, and from then on they worked together smoothly.
When they reached the monastery and asked to see Brother Leo, the man who greeted them laughed. “But our brother is among you!” And he pointed to the fellow who had joined them.
Today, many people seek leadership positions, not so much for what they can do for others but for what the position can do for them: status, connections, perks, advantages. They do service as an investment, a way to build an impressive resume.
The parable about Brother Leo teaches another model of leadership, where leaders are preoccupied with serving rather than being followed, with giving rather than getting, with doing rather than demanding. Leadership based on example, not command. This is called servant leadership.

Can you imagine how much better things would be if more politicians, educators, and business executives saw themselves as servant leaders?