Tony Robbins
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Abstract
Anthony Jay Robbins, author of books such as Unshakeable which is a financial freedom playbook where they coauthored with Peter Mallouk is known for his inspirations in his seminars, infomercials and self-help books. He is an American philanthropist and he coaches many people in his seminars. In the book Unshakeable, Tony and Mallouk highlight the book with three sections which include; Wealth: The Rule Book, The Unshakeable Playbook and lastly The Psychology of Wealth. Unshakeable mainly points to the ideology and the set of laws of investing and building real riches for standard people. Tony and Mallouk continue to say that to gain financial freedom, investing should be long-term and taxes and fees should be reduced. Diversification should be done intelligently and people should also focus on being completely and fulfilled. The book indicates how someone can be the master of their investment outcome instead of sitting frightfully on the sidelines. The rules given in this book help keep people from certain mistakes which would, in turn, be costly and it also explains what to do to make the right financial decisions.
Tony Robbins is an author, coach and mentor that I look up to, to provide me with the right knowledge on ideal financial education. Through reading his books, I have been equipped with great lessons on how to invest and how to be fulfilled as I grow financially. I started reading Tony Robbins books back on campus and the content in them has made me look at investing in a completely different way. This small description from his official website: Tony Robbins is an entrepreneur, NY Times bestselling author, philanthropist, and the nations first life business strategist. For more than four and a half decades, millions of people have enjoyed the warmth, humor, and transformational power of Tonys business and personal development events. He has been honored by Accenture as one of the top 50 Business Intellectuals in the world; by Harvard Press as one of the top six business leaders in the World. He is a philanthropist who has provided over 600 million meals in the last six years in partnership with Feeding America and is on track to provide one billion meals by 2025. Tonys coaching methods have been proven at the highest levels of success in every game imaginable where he coaches people to continually improve, innovate and grow.(Robbins)
Tony Robbins has a series of seminars on his website, Robbins Research International where he coaches many people on the importance of investing and how to go about it. He has participated in many charity programs such as feeding people in America. Through his website, Tony Robbins has dedicated his life to assisting individuals and businesses prosper. In some of his videos on his website, I have learnt how to be innovative, competent and confident in the way I approach and tackle my problems and how to welcome success. In one of his seminars that I attended online, Tony Robbins talks about How to improve a business with strategic innovation.(Robbins). He gives principles to improve business and create the value that puts someone top of the competition. He says that there must be ways of how to create new things that are not in the market. He gives examples such as Starbucks and Apple companies who came up with unique methods to stay one step ahead of every other company they compete with. Tony explained to me what strategic innovation meant to him where he said it is changing the rules for competition within an industry to be able to stay ahead of everyone else in the competition.
Changing the rules of the games gives one power to do whatever they want in their line of business and they get to innovate different things quite often to keep their top position in the competition within their industry or an entire industry. Tony encouraged me to think outside the box while venturing into a certain industry. He taught me to learn to think about what people need that they do not think or know that they need. By giving me examples of companies that were overtaken by new companies that dared to think out of the ordinary and invent new ways and things that had not existed, I was able to understand his terms of strategic innovation.
As I watched his video of Business Chokeholds to overcome he taught me that mindset in a business is really important which is the major chokehold in any business. A business could have a major fallback such as slow cash flow but the mindset of the business is the only thing that could lead the business back to a success point. An empowered mindset and psychology will help me come up with ways to improve my business to a point where cash flow will not be a problem anymore. I learnt from him that everyone has the answers they all need to gain power in their business by simply turning an idea in their mind and turn it into a reality. If I find the assumption that is not spoken and turn the assumption into an answer and believe that you can make it true. Believing that the problem exists will prevent me from seeing how I can improve it. Changing my view of problems and believing that I can solve a problem with the answers in my head would help me deal with my business fallbacks and make me feel empowered. Tony taught me the three big moves on how to overcome business chokeholds. This included: finding the unspoken assumption, challenging the assumption and finally breaking through the limiting emotion. (Robbins)
Tony Robbins life has been all about helping people discover their power in becoming leaders and coming up with businesses that are built on strong foundations of leadership lessons. I challenge you to make your life a masterpiece. I challenge you to join the ranks of those people, who live what they teach, who walk their talk.(Tony Robbins). According to Tony, not having an exit strategy is just making a business just another job. Having an exit strategy will help it grow even more. I knew that having an exit plan will help build a good system that will create money even without my presence.
Tony came up with a Rapid Planning Method (RPM) which involves a question that is; what is the outcome? In this question, I learnt that I should answer what you want at the end of starting something to make a meaning bring the best product. It helped me come up with goals that I should have achieved in a certain period to get to the result.
As I read Tonys book, I came across the meaning of unshakeable which he describes as an unwavering and undisputed confidence; a steadfast commitment to the truth; presence, peace of mind, and calm amidst the storm (Robbins). In this book, Tony encouraged me to opt for index funds that provide consistent and long-term growth with low fees thus dealing with the problem of having too many fees to pay and gaining power over my own business or investment. Putting money into an index fund helps someone choose all stocks at the same time and therefore reducing the number of risks that would have been incurred by choosing just one stock. This will give confidence of money growing over a while.
The next lesson that Tonys book has taught me is the importance of compounding wealth and making growth quicker. Tony writes; the S&P 500 returned an average of 10.38% a year from 1985 to 2015. Lets say you invested $50,000 in 1985. How much would it have been in 2015? The answer: 941,613.61. Thats right. Almost a million bucks (Robbins). The stock market keeps growing each year. Investing should be viewed as a long-term game. Compounding wealth means that the wealth continues to multiply itself leading to an increase in wealth. The third lesson is the lesson on really avoiding mutual funds since they grow slower than index funds especially since mutual funds are controlled by professional investors. And index funds by a computer. Tony says; Todays winners are often tomorrows losers. Mutual funds do not do well in a long-term period as compared to index funds.
Tony goes on to teach the next lesson of avoiding fees which would eventually cost a lot in the future. Mutual funds have fees and are mostly controlled by people while index funds are mostly automated and have fewer fees associated with them. The other lesson that this book has taught me is to remain calm since the falls are normal in any given market. Tony goes on to say; when any market falls by at least 10% from its peak its called a correction- a peculiarly bland and neutral term for an experience that most people relish about as much as dental surgery. When a market falls by at least 20% from its peak, its called a bear market. The other lesson in this book is about diversification to avoid losing money while doing investments. Having multiple investments at different types of places or businesses help create multiple sources of income and to avoid fallbacks.
There is an importance in giving back to society and gratitude. This being a lesson towards the end of the book of Tony where he emphasizes the importance of charitable work for example where he works in partnership with Feeding America to feed people in America. Tony points out that; What we really want are the emotions we associate with money: for example, the sense of freedom, security, or comfort we believe money will give us, or the joy that comes from sharing our wealth. To gain wealth there needs to be a major centre of attention on growth, giving and gratitude.
Tony Robbins studied other successful people to help him get successful. He had a mentor called Jim Rohn who mentored him throughout his career who taught him that to be successful was to do more for others than any other people were. Adding value to others people should be the main focus. Tony attended many seminars of Jim Rohn and they taught him to not want fast change but to build and accumulating his skills.
James kouzes and Barry Posner Leadership Framework apply slightly to the leadership adventures of Tony Robins whereby the lessons in the framework are similar to those in the book of Tony. These lessons include; setting the path, challenging the process and taking the available opportunities, empowering other people to act towards their goals and uplifting and teaching others by sharing the lessons learnt along the way.
Tonys book has captured most of the lessons that a good leader needs to have and the financial lessons to help equip a good leader. Leadership should involve risk-taking as both go hand in hand. A leader should be equipped with financial education to maximize his growth and the growth of other people. The lessons about charity work and giving back to the society is indeed important in that it helps improve the society where the leader is in making it a more comfortable environment where people relate in one point of view. Helping other people grow to improve the general lives of everyone. However, I do not believe that giving too much should be encouraged since most people are lazy and often depend on handouts and take advantage of people willing to help them.
References
Robbins, Tony & Mallouk, Peter. 2019. Unshakeable: Your Guide to Financial Freedom. Simon & Schuster
Kouzes, James & Posner Barry. 2007. The Leadership Challenge: How to Keep Getting Extraordinary Things Done in Organizations. Jossey-Bass
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