Note that my my transcription has been slightly edited to help with context and readability.

Rule 1: You Got To Get Out There

• “Young people, you got to get out there. You got to give it everything you got whether it’s your time, your talent, your prayers. Or, your treasures because remember this: You will never see a u-haul behind a hearse. You can’t take it with you. Ask yourself: What are you going to do with what you have?”

Rule 2: Fail Big

• “Fail Big. Do what you feel passionate about. Take chances – professionally. Don’t be afraid to fail or to think outside the box.”

Rule 3: Dream, But Have Goals

• “Dreams without goals are just dreams, and they ultimately fuel disappointment. So have dreams, but have goals. Life goals, yearly goals, monthly goals, daily goals. But, in order to achieve these goals, you must apply discipline and consistency.”

Rule 4: Plan

• “Plan. You have to plan every day. Like the saying ‘failing to plan is planning to fail’ “.

Rule 5: Hard Work, Works

• “Hard work, works. Working really hard is what successful people do. But remember, just because you’re doing a lot more, doesn’t mean you’re getting a lot more done. Don’t confuse movement with progress.”

Rule 6: Take Risks

• “Nothing in life is worthwhile unless you take risks. Nothing. Nelson Mandela said there is no passion to be found playing small and settling for a life that’s less than the one you’re capable of living.”

Rule 7: Fall Forward

• “Fall forward. Don’t fall back on something. If I’m going to fall, I don’t want to fall back on anything, except my faith. I want to fall forward. I figure at least this way, I’ll see what I’m going to hit. Every failed experiment is one step closer to success.”

My thoughts: I’m not sure I 100% agree that what he means is to keep doing the same thing, even after failure, hoping that it will eventually succeed next time. Sometimes pivoting and giving up on a bad idea so that you can move onto something that isn’t is the right decision. Hence the saying “the definition of insanity is doing the same thing over and over again and expecting a different result”. He cited Edison’s failures before developing the light bulb. I’m sure Edison re-evaluated his hypotheses along the way. But he goes on to explain it this way.

• “You will fail at some point in your life. Accept it. You will lose. You will embarrass yourself. You will suck at something. There’s no doubt about it and I know that’s probably not a traditional message for a graduation ceremony. But I’m telling you. Embrace it because it’s inevitable. And I should know – in the acting business you fail all the time. Early on in my career, I auditioned for a part in a broadway musical. It was a perfect role for me (I thought), except for the fact that I can’t sing. I didn’t get the job. But here’s the thing. I didn’t quit. I didn’t fall back. I walked out of there to prepare for the next audition, and the next audition, and the next audition. I prayed, I prayed, and I prayed. But I continued to fail and fail and fail, but it didn’t matter because you know what? There’s an old saying, ‘if you hang around the barbershop long enough, sooner or later, you’re going to get a haircut. So you will catch a break, and I did catch a break.””

My thoughts: he goes on to mention that he did a recent successful Broadway show (that had no singing) which coincidentally happened to be in the same theater that rejected him 30 years earlier.

• “Do you have the guts to fail? Here’s my second point about failure: if you don’t fail, you’re not even trying. I’ll say it again, if you don’t fail, you’re not even trying. My wife told me this great expression: ‘to get something you never had, you have to do something you never did’. Les Brown’s a motivational speaker. He made an analogy about this. He says, imagine you’re on your deathbed and standing around your deathbed are the ghosts representing your unfulfilled potential. The ghosts of the ideas you never acted on. The ghosts of the talents you didn’t use, and they’re standing around your bed angry, disappointed, and upset. They say, ‘we came to you because you could have brought us to life’. They say ‘and now we have to go to the grave together’. So I ask you today, how many ghosts are going to be around your bed when your time comes? Don’t only take risks, but to be open to life. To accept new views, and to be open to new opinions. To be willing to speak at a commencement at one of the best universities in the country is scary. Well, it may be frightening, but it will also be rewarding. Because the chances you take, the people, you meet, the people you love, the faith that you have. That’s what’s going to define you. Never be discouraged. Never hold back. Give everything you got. And when you fall throughout life, fall forward.”

• “Say thank you. Say thank you for grace. Thank you for mercy. Thank you for understanding. Thank you for wisdom. Thank you for parents. Thank you for love. Thank you for kindness. Thank you for humility. Thank you for peace. Thank you for prosperity.”

Rule 9: Say Thank You In Advance For What’s Already Yours

• “Say thank you in advance for what’s already yours. That’s how I live my life. That’s one of the reasons for who I am today. Say thank you in advance for what is already yours. True desire, in the heart, for anything good, is God’s proof to you, sent before hand, to indicate that it’s yours already. I’ll say it again – True desire in the heart. That itch that you have. Whatever it is you want to do. That thing that you want to do. To help others. To grow, and … to make money. That desire – that itch. That’s God’s proof to you sent beforehand, to indicate that it’s yours. Anything you want, that’s good, you can have, so claim it. Work hard to get it. When you get it, reach back and pull someone else up. For each one, teach one.”

Rule 10: Make A Difference

• “Don’t just aspire to make a living. Aspire to make a difference.”

Below is the YouTube video. Enjoy!