Jim Rohn book: 7 Strategies for Wealth and Happiness

In this Jim Rohn book, you’ll find that people who work hard, set goals, learn, manage money, use time wisely, have good friends, and enjoy life often find great opportunities for success and happiness. These are the seven strategies for wealth and happiness.

By Jim Rohn, 1986, 204 pages.

The author dropped out of college after just one year because he wanted to start working, thinking he knew enough. He admits it was a big mistake. At 25, he was broke and his life was similar to most people’s. He’d been working for six years, but he had debts, a modest salary of $57 a week, and his promises to his wife were forgotten. He was ambitious and worked hard, believing it would lead to success, which was another mistake.

He considered starting a business but lacked the capital. That’s when he met Mr. Earl Shoaff, who changed his life by teaching him success strategies. He later became a well-known speaker worldwide.

In his book, Jim Rohn shares 7 strategies that helped him succeed. These strategies are based on five key words: Fundamentals, Happiness, Wealth, Success, and Discipline.

1st strategy: Unleash the power of goals.

Goals are like specific dreams that make you want to do something. If you know what you want and really want it, you’ll figure out how to get it.

Ask yourself, “What makes me want to do things?”

According to Jim Rohn, there are four things that can make you want to do things:

When people recognize your efforts.
When you feel like you’ve succeeded.
When you’re doing it for your family.
When you’re being kind and helpful to others.

Setting goals: there are 2 types of goals according to him.

Long-term goals: Think about what you want to achieve in the next 10 years as your long-term goals. Once you reach one goal, set a new one.
Short-term goals: Set short-term goals too.

When you fail at something, make sure it bothers you. If it hurts, you won’t want to go through it again. But if it’s painless, failure becomes something routine.

Set high goals that push you to work hard, but make sure they’re achievable. If they’re too far out of reach, you might get discouraged.

Ask for what you want, but do it smartly. Believe in yourself and your goals.

When you have goals, prioritize them. Ask yourself if a goal is really important or not.

Concentrate fully on what you’re doing. If you want to daydream, do it during your set aside times for that. Otherwise, stay focused. It can make a big difference in your life.

2nd strategy: Seek knowledge

Learning to appreciate valuable things around you is crucial.

Keep on studying even if you’re not in school anymore.

Try keeping a diary. At the end of each week, take some time to think about what happened during the past 7 days. Also, think about your mistakes.

How to gain wisdom? Two possibilities in this case

Reflect on your life experiences and learn from them. This can turn your experiences into valuable assets.

Also, learn from other people’s mistakes. You can do this in various ways:

Read books and listen to tapes. Successful people are curious and always seek knowledge.
Talk to successful individuals, ask them questions, and listen to their advice.
Watch how successful people behave, especially if you want to achieve similar success.
Even if you’re busy, try to spend just 30 minutes a day learning.
Remember that practice makes perfect. Repetition helps you learn.

“Repetition is the mother of learning”.

Set aside some money each month to invest in your education and personal growth. This investment can help unlock your potential.

3rd strategy: Learn to change

Imagine someone gives you a million dollars; you’d work hard to become a millionaire, right? Well, a wealthy person once said that if you distributed all the money in the world equally, it would soon end up in the same people’s hands.

To get more than what you have, you need to go beyond your current limits. To achieve more, you must prove your value and work for it. If you want to be better than average, have a great attitude, care about others, and really want to succeed.

Don’t just wish for something better; become better yourself. The issue is within you, so stop blaming others for it.

Here are three things we do to ourselves that hold us back:

Procrastination: Putting things off is risky because it can lead to problems piling up over time.
Blame: Sometimes we blame others when the real issue is our own weaknesses or mistakes.
Excuses: We often make excuses to avoid facing reality.

If we don’t let go of these self-imposed limitations, the next five years will be just like the last five. To make progress, we need discipline and small, gradual changes. Start with small challenges and work your way up, like cutting out butter to lose weight.

“Great oaks from little acorns grow”.

4th strategy: Control your finances

If you prioritize money above all else and neglect important values, you’ll ultimately lose instead of gaining. Our actions reveal a lot about who we are.

Jim Rohn suggests that paying taxes should be seen positively, as it supports government functions like defense and public services. However, it’s essential not to overpay.

The 70/30 rule

Allocate 70% of your income to cover essential expenses like rent, food, and taxes.

Allocate the remaining 30% as follows:

10% to charity
10% to capital investment (like starting a part-time business),
And 10% to savings to prepare for life’s challenges.

Know how to make a mid-course correction

Remember to make adjustments if you veer off course, just like a rocket going to the moon may need mid-course corrections. It’s normal to stray; the key is getting back on track.

Keep score

Keep track of your financial situation by creating a balance sheet: list your assets on one side and your liabilities on the other, then subtract your liabilities from your assets.

Develop a mindset of wealth and happiness. Learn to love, even when it involves giving money.

5th strategy: Master time.

You must effectively handle your schedule:

Your time is your most valuable asset. It’s finite, and there’s no way to obtain more.

There are four different approaches to time management:

The Drifter: Aimless wandering won’t lead to a better life.
The 9 to 5 Time Manager: Strikes a balance between drifting and becoming a workaholic.
The Workaholic: Overprioritizes work at the expense of family and personal life.
The Enlightened Time Manager: Prioritizes all life aspects, focusing on productivity rather than just clocking in hours, which is often the norm in traditional employment.

The mastery of your time:

You should become proficient at saying “NO.” It’s crucial to establish boundaries between work and leisure. When you’re working, focus on work, but when you’re on your days off, stop dwelling on it.

Understanding yourself is key. Discover your most productive times. Jim Rohn recommends jotting down your thoughts on paper and planning your days. He suggests using four essential tools:

A journal: Great for recording valuable information, ideas, and advice.
A project book: Dedicate sections to different projects for organized planning.
A calendar: Use it to note appointments, fees, meeting details, and to-do lists.
A game plan: Start each day with a clear plan, then consider your goals for the week and month. Planning is crucial for success.

6th strategy: Surround yourself with winners.

We tend to adopt the financial habits of those around us. So, it’s important to always consider:

The influence of the people you associate with.
Whether you’re comfortable in their company.

If you’re unsure, ask yourself these additional questions:

How have they influenced your actions?
What are you listening to because of them?
How have they shaped your conversations?
What are you reading because of them?
Where are they taking you?
How are they impacting your thoughts?
How are they affecting your emotions?
What are you saying because of them?

Evaluate whether the knowledge you gain from them is aligning with your goals. If someone is steering you away from your dreams, try to minimize their influence, especially if it’s challenging to cut them out entirely (e.g., colleagues). Instead, spend more time with the right people—successful individuals who can help you create a path to success.

7th strategy: Learn the art of living well.

To improve your life, prioritize quality over quantity from the start. Don’t let money have more influence than it should. Understand that money is like a magnifier. For instance, if someone has a drinking problem, having more money will likely lead them to consume even more alcohol. On the other hand, for someone who is already happy, increased wealth can amplify their happiness.

Love and friendship are immensely important for a fulfilling life. These connections allow us to experience life to the fullest because we are inherently social beings. Cherish relationships and remember that friends play a vital role in our lives as well.

The most powerful forces that are in us are emotions, here are the 5 main ones:

Disgust: When harnessed effectively, it has the power to transform a life. It can serve as a catalyst for change when we reach a point of no return, motivating us to overhaul everything.
Decision: Making a life-altering decision can be akin to an internal battle. When you encounter a crossroads, it’s crucial never to remain indecisive. Choose your path, even if it might lead to a mistake, because no choice is worse than indecision.
Desire: True desire originates from within but can be ignited by external factors. Keep an open heart and don’t build barriers to shield yourself. Allow your life to be enriched by the sparks of desire from various sources.
Resolve: Being able to say, “I want,” is paramount. As Benjamin Disraeli aptly put it, “Nothing can resist a human will that stakes even its existence on the extent of its purpose.” Your determination can overcome any obstacle when you are resolute in your goals. Resolve is promising yourself that you’ll never give up.

“For how long will I try to make my dreams come true?” You should answer this question with, “As long as it takes”.

Action: It is the crucial element that guarantees outcomes. Positive results can only be achieved through taking action.

“Faith without action serves no useful purpose.”

Affirmations are useful if used as a tool to create action.

To finish, Jim Rohn suggests always asking these 4 questions:

Why try?
And why not try?
Why not you?
And why not now?

Book critique of “7 Strategies for Wealth and Happiness”

The Jim Rohn’s book “7 Strategies for Wealth and Happiness” covers fundamental principles for personal growth. Despite its focus on wealth, these strategies apply to success in all aspects of life.

As someone interested in personal development for a while, I found Jim Rohn’s book familiar in some ways, as it reinforced what I’ve already learned. It also introduced new ideas. I’ve been implementing goal setting and financial management, particularly through life insurance investments. Additionally, I’m working on continuously learning. Currently, I’m practicing the sixth strategy: surrounding myself with positive and successful individuals, although it can be challenging. Using these methods, I’ve realized that certain people in my life drain my energy, so spending less time with them has been helping me stay positive and make progress

Strategy 5, which is mastering your time, is also highly significant. I’m actively working on improving my time management through organizational techniques to gain more freedom.

If I had to recommend immediate strategies to apply, I would suggest starting with setting goals, as advocated by J. Rohn. Continuous learning and financial control are also essential. These strategies have significantly impacted my life.

For instance, setting precise, time-bound goals has enabled me to achieve weight loss (11 kg in 12 weeks), grow my business (increasing daily website traffic by over 100 visits and generating income from my blog), and become more sociable (feeling more comfortable talking to strangers). It’s crucial to write down your goals for 1 year, 5 years, and 10 years and commit to achieving them without procrastination. Display them where you can see them daily. Also, avoid setting too many goals; focus on the most important ones, as I’ve learned from experience in this area.

In summary, Jim Rohn’s book “7 Strategies for Wealth and Happiness” is an excellent book that covers the fundamental principles of success, especially for beginners in personal development. It makes for a valuable gift that can truly change someone’s life.

Conclusion

“7 Strategies for Wealth and Happiness” has several strong points that make it worthwhile. The book offers practical advice that is simple to put into action. It draws extensively from Jim Rohn’s personal experiences and his valuable relationship with Mr. Shoaff, who imparted these important values to him. Furthermore, the book is written in an easily understandable manner.

However, there are some weak points to consider. While the advice is generally excellent, some of it may seem somewhat outdated, though it can still be adapted to modern contexts. Additionally, the book could have provided more comprehensive information about setting and achieving goals.