Tony Robbins is so much
more than the fast-talking life coach with the TV infomercials. He is credited
with helping some of the world's most powerful, wealthy, and successful
people--from billionaire hedge fund manager Paul Tudor Jones to the late anti-apartheid
crusader Nelson Mandela to Salesforce.com founder and CEO Marc Benioff.
Even Bill Clinton leaned on
Robbins's advice during
the former president's impeachment proceedings. Some of Robbins's best lessons
from his long career as a life coach to the rich and powerful were captured in an interview with Inc. editor-in-chief Eric Schurenberg.
After the Great Recession, Robbins says he saw people lose their
homes, their businesses, and just about everything they had worked for their
whole lives. America is still hurting from the 2008 crash, but Robbins says you
can be successful.
Below is Robbins's most important advice for entrepreneurs.
Set
up a one-employee side business.
The first step in being financially successful is knowing you
can be, he says.
"You need to understand the game is still winnable,"
Robbins tells Inc. You don't have to be Paul Tudor Jones
to make money, just start putting your money to work now.
"Set up a financial business on the side with no employees,
it'll be an extraordinary nest egg that could bring you income for life,"
he says. Robbins says you should not wait until you have a pile of cash, get
started with what you have.
"To be a great investor, you need to make good decisions
without perfect knowledge. The first step is not to wait until you have a huge
sum of money. The illusion is that when you have more money, you'll invest and
it'll be more worth while," Robbins says. "The most important thing
to do is start investing now, so you can unlock the power of compounding."
Robbins recounts the story of a UPS employee who never made
more than $14,000 a year, but retired with a $70 million fortune "without
inheriting a dime." Theodore Johnson's friend told him he was going
to take 20 percent of his salary off every paycheck and invest it. To make due
without that money, Johnson's friend told him to treat it like a 20 percent tax
that Uncle Sam took out of every paycheck. Over the years, compound interest
and good investments helped build a $70 million fortune.
"You don't earn your way to a fortune, you invest your way,
you compound it," Robbins says.
Add
value, and help those around you.
Robbins wants you to dream big, get inspired, and live a life of
wild success, but in order to get there, you have to accomplish smaller things
and build up. Long-term, sustainably wealthy entrepreneurs didn't wake up in a
room of cash, they set out to add value and help people.
"You can get rich by screwing someone, but if you're going
to stay rich, you have to be constantly helping people," he says. When
Robbins's first child was born, he was only making $38,000 a year. By the next
year, he was making $1 million a year. "That jump wasn't a sudden new
skill set, it was a must for me psychologically to produce that wealth,"
he says.
Robbins's mentor, the entrepreneur and motivational speaker Jim
Rohn, gave him two lessons on how to tap your strongest talents and resources
to be successful:
"Find your passion and find a way to use it to do more for
others than anyone else does and add value. And proximity is power. If you want
to get the job done, you have to get in the environment of the best of the
best," Robbins recalls Rohn saying.
When Robbins told Rohn he needed to provide for his family, Rohn
said for the goals he had, he needed to be in the proximity of the best
moneymakers. Robbins wanted to acquire more wealth, so he started hanging out
with investment bankers. "I did that for a couple of years, but it
seemingly produced no business results. Until one day, one of those
relationships grew into a deal that made me $400 million in a day, we took a
company public," he says. "I could've worked my entire lifetime and
not made that happen, I had to be in proximity with the best."
No one grows personally and professionally by themselves,
everyone needs help. If you want to do a certain thing--make money, build a
company, help feed the hungry--then you need to be around people who do that
well.
"My own growth has always been about challenging myself to
be around people who play the game of life at a higher level. In order to stay
on the court with them, you need to lift your game, you need to grow," he
says. "If you're around them and you're adding value, you'll find
opportunity. Proximity is power."
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