Sunday, April 13, 2008

Prove yourself wrong and you're heading toward greath wealth

Most people don't have the reflex that both Warren Buffet and Bill Clinton have: to prove themselves wrong.

U.S. President Bill Clinton would often play this game: he would have his entire staff argue for a particular policy while he tried to demolish its merits.

Similarly, Warren Buffet (the second richest man in the world) would always try to logically demolish his own reasoning so as to prove that his decision is wrong. Of course, if he cannot demolish his rationale, then that would be proof to him that his decision is correct.

Most people (including myself) tend to think that we are right. Very few of us ever go to any great lengths to demolish or disprove our own reasoning. This is why most people never get rich.

The debate is not really between the Haves and Have nots, but the Think and Think nots. In other words, people who don't think, will never get rich.

Here's another interesting fact: if you read the extensive diaries of Ayn Rand, you'll notice one oft-repeated line that she writes repeatedly: "Think this through."

This is why her arguments and reasoning and intellect are so formidable: she's always trying to destroy her own arguments even before any other person gets a chance to hear them! No wonder Alan Greenspan (former chairman of the U.S. Federal Reserve) considered her his mentor.

So the success secret here is quite simple: Don't trust your own intellect or reasoning. Develop the habit of constantly trying to argue AGAINST yourself and your decisions.

Some people call it the Revolving Door technique. Here's how it works if you own a company and are running it.

Imagine that you're walking out of your business through a revolving door, but instead of stepping out into the street, you go right back into your business -- but as a new CEO.

In other words, you are NOT emotionally attached to any decisions or commitments taken previously by the other "you." You're a new CEO and you mean business.

This mindset will enable you to see clearly what is going on in your business, and to make the appropriate changes if necessary.

In other words, the Revolving Door technique gives you a pair of FRESH eyes so you can see things CLEARLY.

I used a business as an example, but it could be your career, or a romantic relationship you're in, or any other situation.