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In the previous post, part one of “Wealth Creation Begins With Personal Development,” I noted how all achievement in our life starts with a dream, fueled by desire, and brought into reality through planning and focused action.

The foundation of all achievement is personal development. When we work on developing and improving our skills and abilities, we empower ourselves to achieve anything we can imagine. When we apply this to the process of wealth creation, there is no limit to what we can accomplish.

To help illustrate the process of wealth creation through effective personal development, I referred to Brian Tracy’s program, The Universal Laws of Success and Achievement. Specifically, five of the 10 Laws of Wealth Creation highlighted in Session 8 of the popular program. Brian, a bestselling author and renowned professional speaker, is a recognized world leader in the field of personal development and business training.

In this post, we will examine, in brief, the remaining five Laws of Wealth Creation, and please remember that the few details listed here are significantly abbreviated from their original versions available in Brian’s program:

Law of Bootstrapping: I find Brian’s perspective here both interesting and revealing. He says that entrepreneurs who start with too little capital are more likely to succeed than
those starting with too much! “More important than capital are energy and imagination,” says Brian.

Law of Courage: Brian’s theme here is “No guts, no glory!” He explains that your willingness to risk failure is a measure of your desire to be rich. “To succeed faster,” he declares, “double your failure rate.”

Law of Risk: I think most entrepreneurs realize that there is a direct relationship between level of risk and likelihood of loss. To succeed in a big way we must be willing to take risks, but that does not mean taking blind risks. Brian points out that “successful entrepreneurs analyze risk carefully and avoid it as much as possible.”

Law of Undue Optimism: Brian cautions that excessive optimism can work two ways: it can lead to both success and failure. He advises to plan ahead and “make provision for your costs and problems being greater than you foresee.”

Law of Persistence: This is another foundational law that successful entrepreneurs apply habitually. Brian says that if you persist long enough you must inevitably succeed. “Persistence is self-discipline in action,” says Brian. “It is also a measure of your belief in yourself.”

That completes this abbreviated overview of Brian Tracy’s session covering the Laws of Wealth Creation, just one of numerous sessions included in his program, The Universal Laws of Success and Achievement. In total, the program highlights 149 individual laws of success and achievement, each presented in detail to teach the listener how to harness the power of these principles for greater personal success.

Personal development is foundational to success in all areas of our life. If you want to achieve more, you can learn to emulate the successful practices of the leaders in your field. Successful people make a lifelong commitment to personal development.

Wealth creation may be just one element of your personal success plan, but even wealth creation begins with personal development!

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* Read Part One of this two-part post: Wealth Creation Begins With Personal Development

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Personal Development

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