| No. 4: An Unwavering Commitment to Process Exceptional people don't just pursue a dream. They fall in love with the process that makes it come true. They don't just work longer and harder. They work smarter. Bob claims that if you're not aspiring to dominate, to be the very best, you're coasting. And you can only coast in one direction. No. 5: Single-Mindedness Champions don't generally live well-rounded lives. They know they cannot be great business leaders, great parents, great athletes, great socializers and tireless contributors to their communities. They have a passion for one thing and pursue it with the zeal of the newly converted. In Bob's experience, champions spend most of their waking hours striving to become the very best at what they do - and spend their remaining hours with their families. No. 6: Honest Evaluation Many people set high standards for themselves. But then they go easy on the self-evaluations. Average achievers tend to overestimate how hard they work. Champions don't. They define excellence in specific terms and commit themselves to the most rigorous standards. No. 7: Resilience Failure is inevitable in business and in life. But exceptional people don't let it define them. They find something to cling to, some hope for the future. Each setback comes with some lesson to be learned. "Working Hard" Is the Bare Minimum Robert Frank would counter that plenty of people are talented and work hard but - because they aren't lucky - don't achieve great business or financial success. What he doesn't seem to realize is that working hard is the bare minimum for exceptional people. Champions know working hard doesn't guarantee success. It only guarantees that they can live with themselves. With great achievers, long hours are just a starting point. They understand that their biggest struggle is the one within themselves. Anything that causes them to prepare less meticulously or execute less perfectly is a distraction, a hindrance, an encumbrance. That's why they surround themselves with, and listen to, those people who will help them succeed. As Bob writes, "The exceptional person has a vision - of great performances, of a great career, of a great something - and doesn't care what others may say or think. He ignores information that suggests his dream is unrealistic. He just sets about making that vision a reality." Does this really sound like luck? By sheer coincidence, I read the Rotella book and the Frank book at the same time. It felt like I was traveling between alternate universes. In one, success is determined by greatness of vision, indomitable will, laserlike focus, persistent striving and uncommon resilience. In the other, well, it's just a roll of the dice. Good investing, Alex | 
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