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Your Morning is Ruining Your Day

Your Morning is Ruining Your Day

When you woke up this morning, what did you do?

Did it involve hitting the snooze alarm multiple times? Possibly running to the shower, changing, and heading out the door? Or maybe you even made enough time to grab a granola bar on the way out the door.

If your mornings are defined by any of these situations or consist of any similar iteration then you’re doing it wrong.

I like to think of the morning as a foundation to the start of your day.

If you start your morning in a rush to get going, you’re going to go through the day in a rush. And this my friends is what the majority of America does.

The majority of America sleeps until there is absolutely no more time available for sleep, and then rushes to get to their workplace.

If you can wake up early to get to something that you have to do, like go to work, then you can certainly muster up the gusto to wake up for something you want to do.

Like IMPROVE your life.

If you start the day with personal development, then I can guarantee you that your life will improve dramatically.

This goes back to one of my favorite quotes by Charlie Munger:

“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you.”

What are you doing to develop yourself, not for the sake of your employer, but for YOU?!

While you’re reading this, you’re probably saying, “but I’m so busy, there’s not enough time in a day.” Then make time! You make time for the things you want to accomplish.

If I told you, that you could accomplish at least 75% of the the goals you set for yourself if you dedicated an hour of your day to personal improvement, would you do it?

I guarantee you would. And that’s exactly what can happen if you dedicate yourself to it.

And when’s the best time to do it.

The morning!

I recently read a book by “Yo Pal” Hal Elrod (great name to have people remember you) called The Miracle Morning: The Not-So-Obvious Secret Guaranteed To Transform Your Life… (Before 8AM).

I typically shy away from books with this overly enthusiastic title, but I saw some good reviews from people I respect so I decided to give it a shot. Besides, nobody has ever gone broke buying books to read.

Although much of the book is simply words to fill pages, there were some great tips I picked up.

The first one is to have a strategy when you wake up. Don’t just fall asleep without a plan on how you’re going to attack your morning.

This is how I go about mine:

  • 5:30 AM: Wake Up (I am slowly waking up earlier and earlier till I reach 4:00 AM which is my goal for waking up.)
  • Immediately put on workout clothes and drink a glass of water.
  • Spend 10 minutes praying. This can be replaced with meditating for some.
  • Spend 10-20 minutes reading the bible.
  • Spend 10-20 minutes reading a book of my choice, most often non-fiction, or reading Bloomberg Businessweek or WSJ.
  • Spend 20-30 minutes walking/running ‘Famous Amos’ (dog) or stretching/breaking a sweat.
  • Once all of that is done, I make my breakfast, drink my coffee and then begin getting ready for the upcoming day.

Notice how I don’t even begin thinking about the upcoming day until after I’ve done all the things I WANT to do.

By picking a morning schedule and sticking to it, you are winning the morning. Although it may seem small, these small wins compound themselves over time. This is an idea I recently picked up from the book, The Power of Habit: Why We Do What We Do in Life and Business.

The second idea I picked up from The Miracle Morning is to spend time in silence. This is talked about by many of the guests on the Tim Ferriss Podcast (my personal favorite) but simply being able to sit in silence in a world that is constantly in motion is a skill few will master.

This small portion of your day simply being content with nothing will radically change your life.

As will starting your morning on your terms.

So, stop being a victim of your situation. Stop allowing the morning to ruin your day. Rebel against the way everybody else is living.

Make the morning a victory, and watch as your days become victories.

Stay Strong, Live Long,

Cooper Mitchell

Springfield mo financial advisor

Springfield Mo Financial Advisor

Springfield, Missouri is a unique place.

It’s large enough to feel like a “big” city at times, yet has a very much hometown feel. I find it somewhat funny that many people work with an advisor employed by a large corporation, when there are locally owned advisory businesses in Springfield, Mo.

I was born and raised in Springfield. I’ve seen it go through many changes and have been happy to operate my business here.

But why Springfield?

I saw a need for genuine advice combined with the use of current technology and training from the perspective of someone born and raised in Springfield, Mo. A town known for its heavy emphasis on family values.  I strive to “Forge Financial Success” for clients utilizing all the tools available with a personal touch.

Let me speak on a few things that set me apart from the rest for those in the area looking for help.

First off, I’m younger than the average investment advisor. Which, in reality isn’t saying much because the average financial advisor’s age is around 50 according to MarketWatch.  A question I think people should ask themselves is, “will my advisor retire before I no longer need their services?” If the answer is possibly yes, than I would think about who you’re working with. Not only should you question whether they will retire before you, but are they up to date with current investment strategies, tools that technology has brought about, or even how to communicate using more than just a phone?

I don’t want to bash on advisors that are older than I, because I’ve gained a lot of knowledge from them. But, there’s something to be said about an advisor who is up to date and understands not only the times, but also a clients needs. Because the longer you do something, the more stuck in your way’s you become, and one of the biggest things I’ve found is EACH CLIENT IS DIFFERENT.

The second way I strive to stand out in a wave of advisors is to constantly progress. Not only in the area of designations, but also knowledge, the use of technology, and understanding markets. A quote by one of the greatest investors of all time in Charlie Munger goes,

I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you.

This quote speaks volumes to me because I find it to be so true. You come in and stack one brick at a time, and eventually you’ll look back and have a house built. This is the way I not only strive to help my clients in their retirement, but also the way I structure my companies growth. Constant progression.

Thirdly, I am pressure free. There’s this idea in the financial services industry that you have to pretend to be a used car salesman to earn someone’s business. In my opinion, I’ve found this to be the complete opposite of the truth. When I make a recommendation, I ask what the potential client feels about the recommendation and let them decide when to move forward. The choice of an advisor should not be taken lightly and I don’t want somebody making rash decisions.

My goal is to have a client for life; and to earn that trust it takes time.

Finally, I’m an independent business owner. Meaning I’m directly ingrained in the success of my company, and I believe so much in my company that it’s my middle name. I put my name as my business because I’m willing to put my reputation on the line and like the captain of a ship, I’m anchored to the ship’s wheel.

Want to learn more? Visit the Work with Cooper page!

– Cooper Mitchell

Munger

Using Momentum to Achieve Success

Today I’d like to discuss the use of momentum. Have you ever been working hard on something only to realize nothing was going your way? Whether that be a project for school, work or any other endeavor and then all of sudden things started to fall into place really quickly.

It was as if you were tied up and suddenly you broke the chains and were running free. It’s at this point that I think the most effort must be applied.

Often times when we experience this jolt of success we rest on our laurels. We take a step back and look at what we’ve accomplished. I’ve noticed this many times in my own life for example after having a great hockey game, gaining a new client, or having success in any other entrepreneurial effort. It’s at that moment that I rest and think of what I’ve accomplished.

However, this is the most important time to dig in and get to work. You’ve just experienced success, your confidence is sky high, and your outlook on life is extremely positive. Take that momentum going forward and use it to your advantage.

For those of you in sales, if you’ve just closed a sale over the phone, pick up that phone again and make more calls. If you’re a small business owner and just completed a successful marketing program, don’t wait to develop another one, start it immediately!

Have you ever noticed something similar in your own life where after you experienced success, rather than sitting back, you pushed forward and saw more benefit than if you would have followed the former?

Cooper Mitchell

2067411569

How to Gain an Edge in Life

To gain an edge in life you must do things that others don’t. There are many ways to get ahead, but a book I’ve been reading lately titled “Poor Charlies Almanack: The Wit and Wisdom of Charles T. Munger” had a quote by the great investor that really stuck out to me. If you don’t like your current situation, do something about it. The only permanent part of life is death, and if you’re reading this, you are still alive.

You can read my review of Poor Charlie’s Almanack Here

“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you. Spend each day trying to be a little wiser than you were when you woke up. Discharge your duties faithfully and well. Step by step you get ahead, but not necessarily in fast spurts. But you build discipline by preparing for fast spurts. Slug it out one inch at a time, day by day. At the end of the day – if you live long enough – most people get what they deserve.” – Charles T. Munger

Cooper Mitchell

Click to Read my Review

Poor Charlie’s Almanack Review

I’ll be the first to say it, Charlie Munger is one of the greatest minds of our time. Period. In my mind, one of his greatest accomplishments is to still be working hard, not just sloughing off, at over 90 years old! His other accomplishments include:

  • 2015 Estimated Net Worth: $1,300,000,000 (That’s 1.3 BILLION, with a B)
  • Ran an investment partnership on his own from 1962-1975 and generated compound returns of 19.8% when the DOW had an annual appreciation rate of 5%
  • Howard Buffett, Warren Buffett’s eldest son once said, “My father (Warren) is the second smartest person I know, Charlie is the first.”
  • Warren Buffett’s right hand man (although to me, they’re on equal footing)
  • At one time was Chairman of Wesco Financial Corporation (You can find the Annual Shareholder Letters here) a corporation eventually purchased by Berkshire Hathaway and at it’s peak held a concentrated equity portfolio of  $1.5 Billion.
  • Gave the largest gift ever received by the University of Michigan in the amount of $110 Million

There’s many more stats I could regurgitate but I’ll save you. Just know he’s a man worthy of your attention.

Usdollar100front

One of Charlie’s hero’s is Benjamin Franklin. Mr. Franklin is known for many things, but one of which is his annual almanack known as Poor Richard’s Almanack. In the spirit of Mr. Franklin, Charlie with the help of Peter Kaufman put together a MASSIVE coffee table book (seriously this thing is heavy) about various things Charlie Munger has done and said over the years. It also contains people close to Charlie, including but not limited to Warren Buffett, Louis Simpson (President of Geico), Bill Gross (PIMCO), and Bill Gates (you know him).

The book is very different from others you may find. It has a very loose structure, although it’s much more structure than it may look (could be similar to Charlies though process) and brushes over nearly every aspect of Charlies life from birth to present day.

A common word found throughout Poor Charlies Almanack is:

LOLLAPALOOZA

Charlie-Mungers-lollapalooza-algo

The Lollapalooza Effect is  is a combination of factors, filtered through multidisciplinary models, that lead to an outstanding result. So what does that mean? Let me give you some examples of Lollapalooza effects, because spotting these is one of the biggest and best parts of the book:

  1. Tupperware

Tupperware manufactures and sells products related to food storage. In 2012 it had an annual sales of around 2.6 billion dollars. Tupperware is an MLM where you can signup with tupperware to host a party, have friends attend the party. Why? In the party, several tupperware products will be available for sale, which your friends will buy. Depending on the sales you get a sales commission. Several psychological factors combine together, which helps to sell the products. These factors are:

  1. Reciprocation– Games are played when the party starts. Prizes are given to the winners. Those who did not win also gets to reach a grab bag. Everyone has received a gift before the buying begins. This allows them to start feeling good about the product.
  2. Commitment – Each participant describes publicly about the uses and the benefits of tupperware products they already own.
  3. Social Proof – Everyone is buying the product. So the product has to be good.
  4. Liking – Your friend purchases the product because of you.

These factors combine to create a LOLLAPALOOZA Effect (say that 10 times fast.)

The monster of a book also contains various speeches that Charlie has given. You may be thinking, “Can’t I just find these on YouTube?” Well no, you can’t, I’ve looked. And the speeches are filled with so much you can learn from. It’s like you’re sitting down with Charlie and he’s just spewing the knowledge he’s acquired over his many years on this planet. To not take the time to learn would be foolish.

Charlie is a very quotable man. He seems reserved, especially in Berkshire Hathaway Shareholder Meetings, but when he does decide to open his mouth, outside of the often said, “I have nothing left to add,” you can be sure gold will be shared.

Berkshire Hathaway Caricatures

Some of my favorite quotes from the book just scanning through include but are not limited to:

  • “Read all the time”
  • “Be prepared, act promptly, in scale, on a few major opportunities.”
  •  Jessy Livermore, “Big money is made in the waiting”
    Munger then goes on to explain that he would sit on 10-20 million at a time in T-Bills just waiting.
  • “It takes character to sit there with all that cash and do nothing. I didn’t get to where I am by going after mediocre opportunities”
  • “There are worse situations than drowning in cash and sitting, sitting, sitting. I remember when I wasn’t awash in cash and I don’t want to go back. – Munger
  • On Coumpound Interest:
    • “Compound interest is the eighth wonder of the world” – Einstein
    • “Never interrupt it unnecessarily” – Munger
    • “…’tis the stone that will turn all your lead into gold…Remember that money is of a prolific generating nature. Money can beget money, and its offspring can beget more” – Benjamine Franklin
  • “Generally speaking, envy, resentment, revenge and self-pity are disastrous modes of thoughts. Self-pity gets fairly close to paranoia, and paranoia is one of the very hardest things to reverse. You do not want to drift into self-pity. … Self-pity will not improve the situation.” – Munger
  • “Wisdom acquisition is a moral duty. It’s not something you do just to advance in life. Wisdom acquisition is a moral duty. As a corollary to that proposition which is very important, it means that you are hooked for lifetime learning. And without lifetime learning, you people are not going to do very well. You are not going to get very far in life based on what you already know. You’re going to advance in life by what you learn after you leave here.” – Munger
  • “I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you.” – Munger  (This is my personal favorite)

  • “Our game is to recognize a big idea when it comes along, when it doesn’t come along very often. Opportunity comes to the prepared mind.” – Munger
  • Munger

That’s a lot of quotes and isn’t even close to 1/1000000000 of the knowledge you’ll gain from this book. So, do yourself a favor, spend the $50 to improve your future. Like I always say, you can go out and spend this money on things that will pass, or you can spend it on improving your self and learning. Something that only the grave can take away.

Where to Purchase:

PoorCharliesAlmanack.com

-Cooper Mitchell