The Five Factor
Blog Written by: Jim Stovall
Among the most significant discoveries in the field of human success and achievement in the past quarter century is the understanding that we become like the five people with whom we spend the most time. Humans are very social and impressionable creatures. We have a tendency to be influenced by everyone around us, but most significantly, we are impacted by the five people in our inner circle. Whether they are friends, family members, or colleagues, the five people in our immediate environment the majority of the time have the greatest influence upon us.
Further studies have shown that our income and financial net worth will approach the average of the five people we are in contact with the most. This does not mean we shouldn’t spend time with and even serve those who are less fortunate. It simply means we need to be aware of the people who have an influence upon us.
In my book The Millionaire Map in which I recount my own journey from poverty to wealth, I discuss in detail the concept of developing a “dream team.” Your dream team is made up of the people you would most want around you in any venture or endeavor. They would be people with the greatest name recognition, experience, and expertise within the arena where you are competing. For example, when I was an athlete, I was trained for several years by an Olympic champion. His success, his habits, and his competitive nature rubbed off on me.
I began my business career in the television industry when I founded a company that I still run called the Narrative Television Network. I made a list of individuals that comprised my potential dream team within the TV industry. The first name on the list was Ted Turner, and he served on our advisory board and remains a good friend and someone I can call on to this very day. When I began writing and working in the financial industry, I contacted Steve Forbes, and he has been a friend, mentor, and colleague for over 15 years. When my books became the basis for a number of movies, I associated with and formed relationships with people such as Academy Award-winner Louis Gossett Jr, James Garner, Peter Fonda, Raquel Welch, and many others.
Please understand I’ve been turned down and ignored by many people whom I wanted on my dream team or in my inner circle, but at least I reached out to them. If you ask someone to be a part of your dream team, they might tell you no, but if you don’t ask them, I can guarantee the answer is no.
As you go through your day today, remember the five factor, and choose wisely.
Today’s the day!