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Top 5 Lessons from My Millionaire Students

01/11/2017 03:18 pm ET

Teaching others is one of the most fulfilling things you can do. It's why I've taken on a group of millionaire students. I attempt to show them how they can go after their goals and make their dreams come true. What people don't often talk about is how teachers also learn from their students.

These are the top five lessons I've learned from working with my diverse group of millionaire students.

1. "You Don't Need to be a Genius to Make Money from the Market."

Look at the graphs and charts and it's easy to think that you need to know everything about math to master the market. Some of my best students are the ones who simply knew how to spot patterns and trends before anyone else. My most successful students were the nimble ones.

2. "Embrace Online Education and It Will Change Your Life."

No longer do you need to grow up in New York or Los Angeles to make a success of yourself. You can come from a town in the middle of rural Wyoming and you can still be successful. All you need is an Internet connection and the desire to embrace online education.

There's really no excuse for failing any longer. You have the tools at your disposal, regardless of where you live or how you grew up. Reduce your learning curve by reading up on material available online.

3. "A Supportive Team Will Push You."

I discovered that my most successful students were the ones who had support from family and friends. They lifted them up when they failed and they motivated them when they needed a kick in the pants. Few people can succeed alone. Find someone who supports you and they'll be invaluable to your success.

4. "A Mentor Cuts Down on Education Time."

Education time is a big factor in why people take years longer than they need to in order to succeed. My students all had a good base, but it was only when we started working together that they really started to make big gains in life. It taught me that a mentor is one of the best tools you can have.

Not only does it cut down on education time, it helps to avoid those newbie mistakes.

5. "Mistakes are Good...But Only If You Learn from Them."

Everyone makes mistakes. Entrepreneurs always say that you should always fail, but my most successful students advance on that. They don't just make mistakes, and they don't try to hide them, they learn from them. I've seen people try to hide their mistakes because they're ashamed. They repeat them and they never move forward.

Make mistakes, but endeavor to learn from them.

Last Word - The Principles of Success

These five lessons are the principles of success. Adopt them in your life and you'll increase your chances of success. The principles of success are important and they'll guide you regardless of what you want to achieve. But you need to acknowledge them first.

What do you think is the biggest factor that contributes to success in life?

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