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EP421: TL Nuggets #85 - The 3 Ingredients For Success
102 Plays2 years ago
“Success is achieved and maintain by those who trying and keep trying. For there’s’s nothing to lose by trying and a great deal to gain if successful. By all means try! Do it now! - W. Clement Stone.
There are many paths to success but it seems that regardless of the path you take, whether you have a positive attitude or not is the most determinant factor.
In 1922, W. Clement Stone created Combined Insurance, a first of its kind company which later became a multimillion dollar corporation. He lived through some extremely hard times and learned that a positive mental attitude was the cornerstone of his success. He and his wife devoted much of their lives to philanthropy and eventually founded the W. Clement & Jessie V. Stone Foundation. Inline with his passion for promoting a positive attitude, the foundation promoted and funded mental health, education, children and youth, and religion.
The next three episodes will explore one of W. Clement Stone’s formulas for success.
- Inspiration to action
- Activity knowledge
- Know-how
To learn more about Combines Insurance, go to https://www.combinedinsurance.com/us-en/corporate/anniversary.html.
To learn more about the W. Clement & Jessie V. Stone Foundation, go to https://www.wcstonefnd.org/.
Today’s episode is taken from Nicky’s and Perry Wong’s new book, How To Create A Million Dollar A Year Income: The Priceless Guide For Insurance Agents, Sales Professionals, And Anyone With A Big Dream. You can find it on Amazon.
Visit eCircleAcademy.com and book a success call with Nicky to take your practice to the next level.
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Transcript
Introduction and Sponsorship
00:00:03
Speaker
Welcome to the Thought Leader Revolution with Nikki Blue. Join the revolution. There's never been a better time in history to speak your truth, find your freedom, and make your fortune. Each week, we interview the world's top thought leaders and learn the secrets of how they built a six to seven figure practice. This episode has been brought to you by eCircleAcademy.com, the proven system to add six to seven figures a year to your thought leader practice.
00:00:33
Speaker
Welcome to another exciting episode of the podcast, The Thought
Thought Leader Nugget 85: Ingredients for Success
00:00:36
Speaker
Leader Revolution. I'm your host, Nicky Ballew. And boy, do we have another exciting episode lined up for you today. Today's episode is another one of our amazing thought leader nuggets, Thought Leader Nugget number 85. And what we're going to be talking about today is the three ingredients for success.
00:00:52
Speaker
So let's start with a couple of quotes.
The Life and Philosophy of W. Clement Stone
00:00:54
Speaker
Success is achieved and maintained by those who try and keep trying, for there's nothing to lose by trying and a great deal to gain if successful. By all means try, do it now. That's from W. Clement Stone.
00:01:07
Speaker
And the next quote is, all personal achievement starts in the mind of the individual. Your personal achievement starts in your mind. The first step is to know exactly what your problem, goal or desire is. If you're not clear about this, then write it down and rewrite it until the words express precisely what you're after. Every disadvantage has an equivalent advantage. If you take the trouble to find it, learn to do that and you'll kick the stuffing out of adversity every time. W. Clement Stone.
00:01:35
Speaker
The next bunch of episodes here are inspired by legendary motivational teacher and billionaire businessman W. Clement Stone. Now, Stone was born in 1902, and his life was a colorful and interesting one. He went through World War I, the Spanish flu pandemic that killed 100 million people, the Great Depression, World War II, the Korean War, the Cuban Missile Crisis, Vietnam, and the dawn of the information age. He was born poor. His father died when he was three, leaving the family deeply in debt,
00:02:03
Speaker
and he was forced to sell newspapers while his mom worked as a dressmaker. He dropped out of high school to sell insurance and eventually founded the Combined Insurance Company in 1922, which became the source of his success and his wealth. He was an unusual man in that he not only could create wealth, but he could articulate how to create it. Some can do it, but can't teach it. Others can teach it, but can't do it. W. Clement Stone could do both.
00:02:33
Speaker
Here's an excerpt from his official biography from the W. Clement Stone Foundation. William Clement Stone, May 4, 1902 to September 3, 2002, was a prominent businessman, philanthropist, and self-help book author. W. Clement Stone was born in and grew up on Chicago's South Side. From an early age, he demonstrated the entrepreneurship, tenacity, and optimism that were the hallmarks of his life.
00:02:58
Speaker
To help support his family, Mr. Stone began selling newspapers on the street at the age of six. When the older youth drove him away from the busiest corners, he moved his sales to restaurants where he eventually won over owners and customers. At age 19, Stone started working with his mother, selling accident policies. He evidently had enormous energy and drive. At age 19, he averaged selling 48 policies per day. Later in his life, he reached a nine-day average of 72 policies per day
00:03:25
Speaker
and sold 122 policies in one day. He did this using a cold canvas system at office buildings, meaning he had no pre-arranged appointments. Most of us can't conceive of talking to that many people in one day. He might have made some sales of multiple policies for some families, but he must have seen an awful lot of customers in a day to make those sales.
00:03:46
Speaker
One of the decisions that Stone made was to increase his production, was to limit the time he would spend on his sales effort. If a customer would make the commitment and designated time, he would move on to the next call. When Stone reached the 72 policy per day level, he started concentrating on building his own sales force.
Philanthropy and Legacy of W. Clement Stone
00:04:02
Speaker
When the Great Depression hit, he devoted more of his attention to creating a sales training program to improve the effectiveness of a sales team.
00:04:08
Speaker
including spending some initial time with new sales persons in the field. He also developed custom insurance policies that would be easy to sell and renew. Through these experiences, Mr. Stone developed his lifelong philosophy of positive mental attitude, PMA, which he viewed as the cornerstone of his success.
00:04:25
Speaker
He believed in the power of optimism and that even an adversity lay seeds of success. He was highly successful and eventually started the Combined Insurance Company of America with a modest initial investment of just $100. Combined Insurance grew into a multi-million dollar enterprise that became a corporation in the 1980s. W. Clement Stone married his high school sweetheart Jesse Verna-Tarson in 1923 and they had three children.
00:04:52
Speaker
The Stones were committed lifelong philanthropists who supported countless civic and community groups as well as political humanitarian causes. In its early years, the Stone Foundation promoted PMA and distributed grants focused on four key areas, mental health, education, children youth, and religion. It also created and coordinated operating programs such as self-improvement projects and prisons and consulting services and management and positive mental attitude training from non-profit organizations.
00:05:20
Speaker
Since the late 1990s, the Foundation has concentrated its grant making in three areas, early childhood development, youth development, and education, with an emphasis on teacher quality and principal leadership. Today, the Foundation has an asset base of over 80 million and distributes almost 2 million grants each year, primarily in Chicago, Boston, New York, and the San Francisco Bay Area. W. Clement Stone died in September 2002 at the age of 100.
00:05:50
Speaker
His son, Norman Stone, President of the Foundation, and many of his grandchildren, several other family members, serve as trustees, corporate officers, and committee members, and they sustain the Stone's family tradition of philanthropy and their steadfast conviction that every individual can make a significant contribution to improving the quality of life for others.
00:06:09
Speaker
Throughout his life, Mr. Stone donated an estimated $275 million to various charitable organizations. Mr. Stone's inspirational self-help books, which have reached a worldwide audience, reinforce the conviction that anyone can become successful no matter how poor his start in life. Wow, he obviously lived an incredible life.
00:06:31
Speaker
and made a difference for millions of people. Stone was a man who worked enormously hard, but his work was done by using simple formulas for success.
Stone's Success Formula and Future Insights
00:06:40
Speaker
And he taught these formulas to all who were interested, be they salespeople in his company or buyers of his best-selling self-help and success books. Stone's philosophy was simple. He believed that the key to creating success was built on one formula above all others. He called it the three ingredients for success formula.
00:06:57
Speaker
And it's been the basis for my co-author Perry Wong and my own success. Now, what I'm going to do right now is outline this formula for you. And then in future episodes, I'm going to spend an episode on each ingredient so that we can go into greater detail on how to apply them. And you have all the information you need to properly use them in your own life to generate the success you want and deserve. So here are the three ingredients, inspiration action,
00:07:27
Speaker
activity knowledge, and know-how.
Conclusion and Call to Action
00:07:31
Speaker
And that wraps up another exciting episode of the podcast, The Thought Leader Revolution. To find out more about this incredible book, go to the show notes at thoughtleaderrevolution.com or go to Amazon and pick yourself up a copy, how to create a million dollar a year income by Nicky Baloo and Perry Wong. Until next time, goodbye.
00:07:55
Speaker
This episode has been brought to you by eCircleAcademy.com, the proven system to add six to seven figures a year to your thought leader practice.