Lecture Notes: Jim Rohn's Presentation

Introduction

Speaker: Jim Rohn
Focus: Sharing personal story and ideas for personal development
Background: Grew up in Idaho, brief college education, early financial struggles

Met Earl Shoaf, a wealthy man with a strong philosophy of life
Shoaf became a mentor, teaching Rohn disciplines, skills, and personal development
Transformation: From financial struggles to becoming a millionaire by age 31

Philosophy: Change yourself to change your future
You get paid for the value you bring to the marketplace, not the time
Economic Ladder: It’s possible to increase value and income exponentially
Self-Improvement: Work harder on yourself than on your job
- Develop skills, language, habits
- Read books (e.g., Think and Grow Rich, The Richest Man in Babylon)
Learning Methods:
- Personal experience
- Observation
- Listening and reading
- Keeping a journal of valuable lessons

Importance of Goals: Goals give clarity and make paying the price easier
Steps to Setting Goals:
1. Decide what you want
2. Write it down
3. Keep old lists
4. Check off completed goals
Goals should inspire and help you grow
Design the Future: Approach with anticipation, not apprehension

Definition: Ability to live from the income of personal resources
Philosophy:
- Poor: Spend money and invest what’s left
- Rich: Invest money and spend what’s left
- Strategy: Never spend more than 70% of income
Principles:
- 10% for charity
- 10% for active capital (investment)
- Profits are better than wages
- Adopt a lender, not spender, mentality