Using the 7 Habits® to Build Wealth ~ Habit 5: Seek First to Understand, Then to Be Understood®

In this seven-week series, we are using the book, “The 7 Habits of Highly Effective People,” by the late Stephen Covey, and applying it to the NDQ method and philosophy of building wealth.

Habit 5: Seek First to Understand, Then to Be Understood

Most people are self-centered in dealing with others. We have our ideas and we want to tell people what we think, what we want and how we think something should be done. When we carry on conversations, instead of listening to others, we are all formulating our next comment.

What if instead we actually listened to others? What if we first made a true effort to hear other people and listen to what they have to say? Would it change relationships if we concerned ourselves with what others thought and needed before we launched into our own ideas and needs?

Our goals of wealth building often affect others, such as a spouse or other family members. While you may have no doubts about spending less and investing as much as possible, you may have a spouse that isn’t sold on the concept. How you listen to your spouse will make a difference in the two of you coming to an agreement on how you will spend, save and invest for your future. If you don’t understand your partner’s needs or just assume you know, your outcome will not meet your expectations and your relationship will suffer.

Make sure you listen and understand the other person first before you start discussing your own needs and wants or solutions. After you understand the other person, you will then be able to talk about your own situation. Once you each understand the other, you can figure out the win-win from Habit 4.

NDQ

p.s. Check out the new NDQ Guide: 500 Tips the guide that will give you actionable steps to jump start your savings and investing immediately.

You may also enjoy:

New Series: Using the 7 Habits® to Build Wealth

Using the 7 Habits® to Build Wealth ~ Habit 1: Be Proactive®

Using the 7 Habits® to Build Wealth ~ Habit 2: Being With the End in Mind®

Using the 7 Habits® to Build Wealth ~ Habit 3: Put First Things First®

Using the 7 Habits® to Build Wealth ~ Habit 4: Think Win-Win®

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