Breakout Host Jeff Macke is the author of the best-selling new book, Clash of the Financial Pundits: How the Media Influences Your Decisions for Better or Worse. In it, he talks about personal career setbacks and what he, along with other thought leaders interviewed for his book, have learned from them.

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There are a million ways life is going to take down everybody," Macke tells The Daily Ticker. "It's a theme throughout the book. Every person I talked to — all successful — they've all had things they've had to overcome." Macke shares his valuable advice for getting past challenges in the video above.

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These are his three key steps:

1. Admit defeat. "Everyone says it's ok and you don't have real problems relative to the real sufferers in the world," Macke says. "And that's true, but you know what? At three in the morning when you're staring at your ceiling ... you're not awake because you're worried about the world's problems. There's something eating you up personally." The first step, he says, is accepting you have a problem that you have to recover from.

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2. Set a routine and build some wins. Macke says this is critical so you are not just whiling away. He believes people are best suited to a schedule ... you get out of bed, go to the gym every day, maybe you write for a half-hour every morning. "As you check these items off your daily list, they're small accomplishments," he says. "It rebuilds your sense of self-esteem — that you're a person who can get things done ... you're still capable of victories."

3. Rebuild selectively: Create the life you want. Macke is a "huge fan of the personal butt-kicking." And one reason is it allows you to clear the bad out of your life as you rebuild. "I jettisoned so many things — goals, houses, things that just didn't bring me happiness in the first place," he says. He boiled it down to just a few things he really wanted in his life, and says the rest will take care of itself.

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