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Soundview Executive Book SummariesMaster Strategies of Super Achievers
Entrepreneur extraordinaire Steven Scott was once a low earner who failed in nine jobs before he discovered the power of a mentor in his life. Once he teamed up with his mentor, he writes that he was able to gain the skills that allowed him to launch more than a dozen multimillion-dollar companies from scratch and become a millionaire. In Mentored by a Millionaire, Scott presents the strategies that many millionaires before him were able to put into practice to achieve extraordinary success.
According to Scott, those who achieve this kind of success do so by using a set of master strategies that are consistently used by extraordinarily successful people, regardless of their level of wealth or education. These successful people, he explains, learn these master strategies from mentors.
A Dismal Failure
In Mentored by a Millionaire, Scott describes his many failures during his first years out of college. The one factor in his life that made a difference, he writes, was finding a mentor who had achieved many of his impossible goals. Not to be confused with a teacher, who merely imparts information and relies on the learner to determine the correct way to use the information, an ideal mentor is someone who has achieved extraordinary success in a similar goal by using the information and processes in which he or she is coaching the learner.
After describing 10 tips for identifying and recruiting a mentor, Scott shows readers how they can reprogram their brains to succeed. This reprogramming, he writes, takes these three steps:
- Realize that you have everything you need to achieve extraordinary success right now - except the strategies, skills and techniques that are included in Scott's book.
- Make the personal commitment to use those strategies and techniques on a daily basis.
- Utilize a specific master strategy to reprogram your mind for extraordinary success.
Scott's mentoring begins by first helping readers diagnose their personality type to get them to envision who they are and what their strengths and weaknesses are. Then he provides Ray Kroc and Frank Phillips as two examples of entrepreneurs who had no previous know-how in the fields that would eventually make them very wealthy men - Kroc was a milkshake machine salesman who went on to create the McDonald's franchise system, and Frank Phillips was the barber and bank teller whose lack of time, talent, know-how and money did not hold him back from becoming the founder of Phillips Petroleum.
Limited resources? No problem, writes Scott. If limited resources are your biggest obstacle for becoming successful, then Scott explains how recruiting the financial resources of others is the most preferred path of "superachievers," and offers steps that can help you on your way to realizing your dream.
Failure Is an Opportunity
Scott provides ways readers can turn failures into opportunities for success. As an example, he points out that even Henry Ford's first venture into automobile manufacturing was a total failure when he was fired after only two years by the board of directors of the Detroit Automobile Co. Ford said, "Failure is only the opportunity to more intelligently begin again."
One empowering lesson Scott imparts to those working to become more successful is how not to avoid criticism. Instead of avoiding critics at all cost, Scott writes, "Bring on the critics ... and beat them!" Even though criticism "can irritate us to a degree that nothing else can, when we know how to receive it, it can produce benefits beyond measure," he writes. To convert criticism from a dreaded foe to a valued friend and teacher, he adds, one must do these three things:
- Consider the source of the criticism. Think about the critic's qualifications, the basis of the criticism, and the motive for giving the criticism.
- Consider the accuracy of the criticism. A few criticisms are extremely accurate, some are partially accurate, and many are totally inaccurate or gross exaggerations. The less accurate criticisms are, the more easily their sting is removed.
- Take responsibility for your response to the criticism and mine it for gold. You can either yield to your inclinations and react to the criticism or you can restrain your inclinations and respond to the criticism.
Why We Like This Book
Mentored by a Millionaire offers numerous words of wisdom that strike directly at the barriers that keep people from realizing their greatest dreams of success. By offering his own experiences, as well as those of others, as examples of ways difficulties can be transformed into opportunities, Scott presents a plan that can help anyone attain his or her goals. Copyright © 2004 Soundview Executive Book Summaries