Welcome to another edition of the Introvert Millionaire Habits Newsletter!

This is where you’ll get up-to-date information on habits, productivity, solopreneurship, and financial independence. 

● The 5-Hour Rule for Mastering a Skill

● 3 Lists to Freedom

● When to Buy Quality Instead of Quantity

● 100 Ways to Make $1,000

● The Resource Roundup

● Unlock This Free Stuff

Let’s get to it…

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📈 The 5-Hour Rule for Mastering a Skill

Want to learn an important skill, but can’t find the time to work on it?

Or maybe you struggle with finishing a project?

Or do you want to spend your time on something important, rather than mindlessly scrolling through your phone?

If you answered yes to any of these questions, then you can vastly improve your life by implementing a concept that’s commonly known as “The 5-Hour Rule.”

So in today’s featured article, I will talk about The 5-Hour Rule, why it’s important, and five simple ways you can implement this concept into your busy schedule.  

Let’s get to it.

What is The 5-Hour Rule?

The 5-Hour Rule is a popular framework that means dedicating 1 hour a day for 5 days in order to learn or to master something.

This time is spent on learning, reading, reflecting, experimenting and taking action on a skill you want to master.

This concept has been used by many others since Benjamin Franklin’s time. Successful people like Barrack Obama, Benjamin Franklin, and Warren Buffet have all used The 5-Hour Rule to master something important.

What makes the 5-hour rule so important is that it allows you to create a strong and beneficial habit that can last for years. The benefits include:

● Creating consistency in your life

● Improving your time management skills

● Providing a healthy learning system

● Increasing your long term productivity

Now that you know why The 5-Hour Rule is important, let’s go over a simple five-step process for implementing this concept into your life.

1. Create Time for Learning a Skill

We all have busy schedules that are jam-packed with tasks, projects, and other obligations, so it might be hard to find that extra time to start something new. 

You work all day, and finally, when you have free time and try to do something productive, your willpower is depleted.

Then how do we overcome this?

One strategy is to create a new category of time that’s dedicated to learning. You would treat it like any other important aspect of your life like work, family time, and exercising.

Furthermore, there are a number of strategies you can use find the time to focus on the 5-hour rule:

● Make it part of your morning routine.  For more on this concept, watch our video about the 7-step process for creating a morning routine

● Maximize your commute time by listening to audiobooks and podcasts related to the skill you want to master.

● Use James Clear’s concept of temptation bundling where you pair a pleasurable indulgence with learning this skill.

● Reduce the amount of time you spend watching tv, going on social media, or scrolling through your phone.

Out of all these ideas, the most effective strategy is to wake up a little earlier each day to focus on this skill.

That way you can take advantage of your fresh willpower and start your day by doing something productive.

2. Set Small Goals

Einstein says: 

“If you want to live a happy life, tie it to a goal.”

It is extremely important to have specific goals for this project in order to plan out each step and know how you’re making progress toward it.

For instance, let’s say you want to start a blogging side hustle that you hope will eventually replace your job. This is a massive long-term goal that requires a series of small steps and goals.

So you’ll want to set specific goals throughout the journey and plan each step along the way. Get started by dividing the whole learning process into smaller parts, and planning out each objective.

For instance, you could set small goals like:

● Picking a profitable niche related to one of your interests

● Learning how to set up a basic Wordpress website

● Researching keywords and topics related to your niche.

● Publishing your first batch of articles

● Networking with other people in your industry to market your website.

You can’t do all these tasks at once, but if you break down the process into a series of small goals, then you'll be surprised at how much you can accomplish by using The 5-Hour Rule. 

3. Customize Your 5-Hour Rule

Warren Buffet, the legendary billionaire investor, is known for his intense work schedule.

Reportedly, he spends about five to six hours a day reading financial reports. Even though Buffet follows the 5-hour rule, he’s an extreme case where he’s structured his entire life around learning.

That said, you probably can’t dedicate hours to learning.

But the reason I mentioned Warren Buffet is to show you can adapt The 5-Hour Rule to fit your schedule. 

You can increase the time or do it at different times or different ways. The important thing here is to be consistent.

If you believe that adding more hours to learning and implementing will help you achieve your goals faster, then go ahead and do it. This is your life, so how you implement The 5-Hour Rule depends on your personal situation.

4. Experiment with New Strategies

After starting the process of learning, take time to evaluate your progress.

Ask yourself:

● Are you being efficient with your time?

● Are you getting closer to your goals?

● What can be done better?

Once a week (as part of a weekly review) make it a point to analyze your goals and see how you’re making progress toward them.

Also, take time to learn new strategies and try them out. Experimenting often leads to brighter ideas, so don’t hesitate to change things up.

5. Transform Learning into a Daily Ritual

We already talked about waking up earlier and implementing the 5-hour rule into your morning routine.

Even though you don’t necessarily have to do it in the morning, it is important to dedicate a minimum of five hours of time each week to work on a skill.

That’s why it’s important to turn this rule into a daily ritual.

For example, if you practice the 5-hour rule in the morning, you can take advantage of it and turn it into a ritual. This way you’ll start the day by focusing on something productive. 

One simple way to do this is to turn the 5-hour rule into a SMART goal that you take action on each morning. 

Final Thoughts on The 5-Hour Rule

The 5-hour Rule isn't just a strategy; it's a commitment to lifelong learning and personal growth.

By dedicating just one hour a day, or five hours a week, to deliberate learning, you're setting yourself up for continuous improvement and success.

The world's most influential thinkers and leaders swear by it, and it's a practice that can yield incredible benefits for anyone willing to invest the time.

Think of the 5-hour rule as an investment in your most valuable asset—yourself.

Whether it's reading, reflecting, or experimenting, these activities stimulate your brain, enhance your problem-solving skills, and open up a world of possibilities.

You're not only staying current in an ever-changing world but also getting ahead by developing new skills and insights that can propel you forward in both your personal and professional life.

So, why not start today? Set aside time to read that book you've been eyeing, take a course, or simply reflect on your experiences.

Make learning a habit, and approach it with the same dedication as you would a workout regimen. The compound interest of this knowledge and self-improvement will pay dividends in ways you can't even imagine.

⚙️1% Better Life

Here’s a simple idea you can apply to any business (or if you feel overwhelmed with too many tasks):

💲Wealth Building Wisdom

We all love to save money, right?

Well, sometimes it’s better to spend a little bit more on an important item instead of trying to cut corners.

That’s the topic that is discussed in the Lifehacker article “When It Makes Sense to Buy Quality Instead of Saving Money.”

It suggests that being frugal doesn't just mean spending less but spending wisely. Sometimes, purchasing a more expensive, high-quality item can save money in the long run because it may last longer and perform better than a cheaper alternative.

The article advises considering the cost per use of an item, which can justify a higher upfront cost if the item is used frequently and can stand the test of time.

It also highlights that investing in quality can lead to better experiences and outcomes, whether it's in the durability of clothes or the performance of tools and technology.

Essentially, the key takeaway is to assess the long-term value and not just the initial cost when making purchasing decisions

💡 Solopreneurship Spotlight

As you’ve probably seen, there are countless ways to generate income with a side hustle.

The trick?

Knowing what strategies actually work.

That’s why I like Nick Loper’s book: $1,000 100 Ways: How Real People Make Real Money on the Side.

What’s interesting about Nick’s book is he interviewed 100 different people who each shared their experience with a specific income-generating model. 

These entrepreneurs provide a simple overview of how it works, the pitfalls, and a simple way to get started. 

If you’re struggling with figuring a simple way to make money on the side, then be sure to check out this book.

🗂️ The Resource Roundup

🎣 Mindful Productivity: Balancing Hobbies and Responsibilities for Sustainable Success. – Carl Pullein advises making time for your hobbies. Engaging in hobbies can boost mental health, improve productivity, and even help with your career. He suggests setting boundaries, managing time wisely, and sometimes saying no to over commitment to ensure there’s time for both work and leisure activities.

☀️ 5 Ugly Truths That Make Life Beautiful – In this podcast episode, Mark Manson discusses five harsh truths about life that, when accepted, can lead to greater fulfillment and purpose. He explores concepts like suffering, trauma, and mortality, arguing that embracing these realities rather than avoiding them can foster personal growth.

🥇 This is the Best Career (Life) Advice I Ever Got – Ryan Holiday shares the best career and life advice he ever received: focus on the process, not the outcomes. He emphasizes that dedicating yourself to daily improvement and consistent effort leads to long-term success and fulfillment.

😡 Remember, Anger Leaves a Lasting Mark – Got anger issues? The Art of Manliness warns that while expressing anger might feel satisfying in the moment, it often leaves long-term scars and damages trust. The article emphasizes the importance of taking a step back to cool down before reacting and finding healthy outlets for anger, such as physical activity or creative pursuits.

🚫 100 Days of Rejection, Winner’s Game vs. Loser’s Game, & More – Sahil Bloom shares insights on personal growth and resilience and discusses the “100 Days of Rejection” challenge, where deliberately facing rejection helps build confidence and overcome fear. He also emphasizes focusing on actions that lead to success rather than avoiding failure.

That’s it for today.

I will see you on Friday where we will talk about a simple framework you can use to gain more control over your life. 

Talk soon

Cheers,

Steve Scott 

P.S. Whenever you’re ready, here are a few ways I can help you:

#1. 90 Days to Your #1 Goal: How to Achieve a Breakthrough Goal in Under 3 Months: Whether it's starting a business, getting in shape, or writing a book, this course is your step-by-step framework to make it happen.

#2. Steve on Twitter: Get up-to-date messages and threads. I publish a few times a day on this platform.

#3. What is Your #1 Challenge?: Are you struggling with something specific? If so, can you take a few minutes to answer this one-question survey. It's a simple question, but your answer is a big deal. This will help me create reports, guides, and free content that tackle your biggest challenges.

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