entrepreneurs

10 Ridiculous Myths About Entreprenuers Debunked!

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THERE ARE LOTS of very wrong myths out there about entrepreneurs these days. It may be worthwhile for you to examine them before actually jumping into the field as it helps answering  whether starting a business is right for you!

 

Myth No.1: Entrepreneurs Are Born

Many people, believe that entrepreneurs possess innate, genetic talents.

However, medically proven that entrepreneurial is not inherent and certainly entrepreneurs are not born; they learned to become entrepreneurs.

Though, entrepreneurship is a self taught and experienced driven field of subject but today globally many colleges and universities offers courses on the subject and in fact entrepreneurship is currently being successfully taught.

The fact that almost anyone can be a successful entrepreneur is undeniable but every aspiring entrepreneur should understand starting your own company is not an easy decision and you must prepare yourself for it.

Myth No.2: Entrepreneurs Are Mainly Motivated to Get Rich

Any successful entrepreneur, will tell you that starting a business is not a get rich quick alternative.

New businesses especially usually take years to turn a profit. During the business start-up stage, entrepreneurs do not buy anything they do not need, such as fancy cars, travel trips and so on.

Most of them use their surplus money to pay off debt or re-invest it in the business.

Their focus is on creating a company with a strong financial base for future expansion.

Myth No. 3: Entrepreneurs Are High Risk Takers

Even the dictionary describes an entrepreneur as one who assumes business risks.

However, like all prudent business people, entrepreneurs know that taking high risks is a gamble.

Entrepreneurs are neither high nor low risk takers.

They prefer situations in which they can influence the outcome, and they like challenges if they believe the odds are in their favor.

Like most humans, entrepreneurs generally seek the best risk in return reward situation.  They are often are a little hesitant to risk everything and take wild chances.

Myth No. 4: Entrepreneurs Are Often High-Tech Wizards

The media often overplays the success of these few high-tech entrepreneurs where in reality only a small percentage of today’s personal businesses are considered high tech.

It takes high profit margins, not high tech, to make it as an entrepreneur.

In fact, very few businesses require high tech abilities Furthermore, most businesses are not even tech businesses at all.

Myth No.5: Entrepreneurs Have Limited Dedication

It is a myth that entrepreneurs are not dedicated to any one thing because dedication is an attribute that all successful entrepreneurs exhibit.

They are dedicated to becoming their own boss. To this end, they’ll work like a monster to make their business succeed.

Myth No. 6: Entrepreneurs Are Loners and Introverts

Though, entrepreneurs might work alone on a business idea but an astute entrepreneur knows that he or she must draw on the experience and ideas of others in order to succeed.

Entrepreneurs will actively seek the advice of others and will make many business contacts to validate their business ideas.

The entrepreneur who is a loner and will not talk to anybody will never start a successful business.

Entrepreneurs are willing to work independently if it is necessary to succeed but even independent-minded people can get lonely, especially if you are working day and night in small home-based business.

Myth No. 7: Entrepreneurs Are Job Hoppers

Successful entrepreneurs, worked for a large corporation for a number of years before they started their own business. In fact, most entrepreneurs have usually had a good track record in the workplace.

In every instance, they used the corporate structure to learn everything they could about the business they intended to establish before they started their own. Entrepreneurs are not job hoppers.

Myth No. 8: Entrepreneurs Finance Their Business with Venture Capital

Venture capital is capital invested in a project in which there is a substantial element of risk, typically a new or expanding business.

Entrepreneurs, know that venture capital money is one of the most expensive forms of funding they can get.

Consequently, they will avoid venture capitalists, using them only as a last resort.

Most entrepreneurs fund their business from personal savings, or by borrowing from friends or lending institutions.

Myth No. 9: Entrepreneurs Give Little Attention to Their Personal Life

All successful entrepreneurs work long hours, which cuts into their personal life.

However, long working hours are not exclusive to entrepreneurs. Many corporate managers and executives work well beyond the average 40-hour workweek.

In the corporate world, you may not have control over your schedule. Entrepreneurs have control over their time hence they can to preserve their private time.

Myth No. 10: Entrepreneurs Are Often Ruthless or Deceptive

Many people believe that to make it as an entrepreneur, you have to be deceptive and step on anybody who gets in your way.

On the contrary, this mode of operation doesn’t work for the entrepreneur.

The truly ruthless or deceptive entrepreneur will often alienate others and be forced to waste time and energy repairing relationships with employees, customers, and suppliers, or simply fail.

 

10 Things Smart People Don’t Do

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1. They don’t overlook the possibility to save money

Prudence is a virtue, not to be mistaken with greed or stinginess. Being able to handle your finances and save, by avoiding unnecessary expenses, is an admirable quality. In fact, it is surprising how many small details there are, warranting closer scrutiny.

These seemingly meaningless expenses can be easily avoided, and the amount of money you can save can amount to something rather significant.

For starters, buying a tap filter can reduce the money spent on bottled water. Opting to refill a printer cartridge, rather than buying a new one is another judicious investment. Replacing light bulbs inside your home with those that conserve energy, is yet another wise choice. Utilizing apps to reduce credit card processing fees, or choosing a big bank as your provider, instead of your local town bank, is also a good decision.

The internet has an unfathomable amount of quality content, both educational and entertaining. Paying for a cable or magazine subscription is undeniably meaningless. Almost anything you are after can be found online, at cheaper price, either as a streaming service, or as an online news article.

The point is, learn how to fully realize the things you are already paying for or have at your disposal – that’s what being smart is all about.

 

2. They don’t heavily rely on others

There is nothing wrong with having friends, family members or coworkers you can trust and rely on. Everyone should have someone they can count on when things go south. Heavily relying on someone, however, only portrays you as powerless. As a smart individual, you should never indulge such a commodity.

You can have a brilliant mind, outstanding intelligence, etc. but if you do not put those traits to good use, then you will only come off as incompetent. When you are in need of assistance, pay close attention, see if your problem was truly difficult. In a great number of cases, it is our fear and insecurity that prevent us from acting.

There is always a thought “What if I only make things worse?” The thought is perfectly justified. The unwillingness to overcome such a fear on the other hand, isn’t.

 

3. They don’t act irresponsibly

Do not mistake this statement as “Smart people don’t have fun” or “Smart people are boring.” You can have fun, you can have a drink, or have a good laugh. Irresponsibility does not equal uninteresting, it only means you like to have an organized lifestyle.

Superior organization leads to greater efficiency, whether you are a student, an employee, a business owner, an artist, or a celebrity.

We all have certain responsibilities, and they are not always imposed by someone else. Putting them off for no valid reason is simply packing to travel into a more stressful future. Almost everyone experiences how being irresponsible tends to backfire, but smart people simply practice what they learn from such inconveniences.

 

4. They don’t feel defeated just because they need to reevaluate their convictions

Our environment, our parents, our education and our past are all responsible for forging our convictions and our perception of the world. It leads to a creation of what is referred to as “umwelt” which roughly translates as “self-centered world”. Umwelt is more connected to how we create the image of the world surrounding us by using our sense, but it can be extended to our point of view on philosophical matters.

The convictions we acquire throughout life are not wrong per se, but are very likely to be proven incompatible when exposed to an entirely new experience or more difficult questions that need answering. Also, if you move out and change the environment you are likely to witness different patterns of behavior, simply because education, or lack of education in some areas, resulted in the blooming of other other human qualities.

Sooner or later, our convictions are challenged and sometimes they will triumph, sometimes they will be trumped. Smart people constantly challenge their convictions; they do not discard them. They reshape them, and they allow them to grow proportionally with their new experience. Don’t miss out on the opportunity to broaden your mind-set, you are not defeated if you gained something valuable.

 

5. They don’t dwell on their errors

To clarify, this refers to companies that manufactured a bad product, or movie directors who made bad movies, etc. It is not uncommon to come up with an idea for something that appears like a true masterwork for us, but once it’s realized, the general public may not be that impressed. It can feel humiliating and really unpleasant, however it happens, whether we like it or not.

When you are making something intended to be appealing to the masses, and in the end fail, start over again from scratch. If you want to impress, listen to your audience, don’t try to patch up the product, or make sequels, in an attempt to prove your vision was brilliant.

This kind of behavior will only cost you your credibility, and even when you manage to come up with something good, people might not even bother to give it a try. It won’t make you neither weak nor foolish, if you know when to give up. It will only give you more time to work on your comeback.

 

6. They don’t permit their past to hold them back

The past cannot be erased, and it does not come back to haunt us, it simply never leaves. We need to learn how to cope with it, and not allow it to interfere with our future achievements. If there is nothing useful to be recovered from the past experience, simply close those doors and let it go.

Past experiences shape who we are today, and our previous struggles can build a strong character, but people tend to use their past to justify their mistakes or behaviour. Perhaps we use these excuses to gain understanding from others, or to make it easier to forgive ourselves.

Still, if you acknowledge your flaws but refuse to do something about them just because you have an excuse, then you have chosen an easy way out, and that’s not what smart people do.

 

7. They don’t rely on good luck to solve their problems

“Hope for the best but be prepared for the worst.” A good quote to be guided by when you invest your time and efforts into something. Hope for the best possible scenario is what motivates us, whereas preparing for the worst prevents us from falling apart. On the other hand, simply hoping for the things to work themselves out is no different from being lazy.

Luck should only take credit for a fragment of your success, considering that relying on it too frequently will only suffocate your ambition.

Besides, smart people would never permit luck to take glory for all their hard work. When you pour your heart and soul into achieving your goal, it would be disappointing to give good fortune the title of “major contributor”.

 

8. They don’t neglect important aspects of their business 

One of the key factors responsible for success is attention to details or just paying good attention in general. When one is trying to be a smart business owner, he or she is generally governed by the idea that with a quality product, success is guaranteed.

The logic is not entirely flawless, since even if you can offer a top quality product at a better price than your competition, you are still a far cry from a lucrative business.

The absolute necessity for a successful selling period is credibility, meaning you will need to have a good advertising tactic. This implies striving towards omnipresence and professional appearance, which brings us to the most efficient tool for spreading this kind of brand awareness, and that is your website.

The impact of the website should never be underestimated; people will judge you as a professional based on your website design, its responsiveness, authority and its content. There are numerous people who offer an amazing type of service or products, in person, but simply look like amateurs online.

Start off by finding a good web hosting service, to ensure your sites responsiveness, proceed with quality design, and finally, eloquently describe your product or service.

Clearly, this is a single example of an important aspect, there are others as well. like providing a good customer service and creating efficient incentive plans etc. But the point is never to push in one direction. Always work on numerous fronts.

 

9. They don’t hesitate to learn from their mistakes

Mistakes are inevitable. Sooner or later something goes wrong, and an unaccounted for variable emerges, and places a grave dent in our previously well-laid schemes. You can’t always have everything under your control, and we do not have the degree of awareness necessary to view every possible angle.

Mistakes are there to remind us of our flaws, and force us to mitigate the impact they have on our lives. Honestly, mistakes can teach us a lot about our lives, and ourselves, but only if we let them.

Learning from your mistakes means finding what is worth salvaging from your unfortunate experience, realizing what went wrong and finding a way to avert it in the future. Smart people use this input to work on themselves, and change the things they have the power to change.

Arrogant people look for excuses, and choose to blindly believe in their judgement without any retrospect. Not only does this kind of behaviour hinder your future success, it also drives people, and allies, away from you.

 

10. They don’t give up on their ideas just because other people don’t agree with them

I know that it was stated how knowing when to give up and start anew is a good thing, and how being too stubborn or pushy will ultimately yield bad results. Well, a wise person knows when he or she should push the envelope and stand firm when the situation takes a turn for the worst.

There is a difference between when someone gives your idea a chance and did not like it in the end and someone not giving your idea a chance at all. We are all entitled to constructive feedback on why our ideas or products are not satisfactory.

If someone wants to discard our efforts based on a hunch, do not let them. Fight for your chance to shine, or try finding someone else who will hear you out and appreciate your idea.

There is always a possibility that someone is intimidated by your expertise; thus that person wants to hinder your development. If you want to publish or launch something, look for more than one opinion. Even if the first one is flattering, look for more.

Constructive criticism can be used as a precious insight for the future.

Resources: lifehack.co

10 Habits of The World’s Most Productive People

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Everyone has had the experience of not having enough hours in the day to accomplish everything you need to. Given the busy lives that we all lead, staying organized and staying productive can be a challenge. It is easy to get caught up on the wrong path and waste valuable time you need to get things done. Take some advice from ten of the world’s most productive people about staying on task and staying productive.

1. No Email in the Morning

Author of The 4-Hour Workweek Tim Ferriss has a brilliant strategy for handling the ubiquitous time-sink that is email. He spends the first few hours of the day ignoring it. According to Ferriss:

“You might need to get into your email to finish 100% of your most important to-dos. But can you get 80 or 90% done before you go into Gmail and have your rat brain explode with freak-out, dopamine excitement and cortisol panic? Yes.”

 

2. Create a System for Certain Tasks

When you have something you work on everyday it is best to create a system to handle it efficiently and without getting overwhelmed. Tony Hsieh, CEO of Zappos.com has come up with a strategy for staying on top of emails that he calls “Yesterbox.” Each morning when he boots up his computer he only answers emails he received the day before. As he explains on yesterbox.com:

“The great thing about this is when you get up in the morning, you know exactly how many emails you have to get through, there’s a sense of progress as you process each email from yesterday and remove it from your inbox, and there’s actually a point when you have zero emails left to process from yesterday.”

 

3. Limit Decision Fatigue

Each time you have to make a decision you use up a little bit of your limited supply of mental energy. To make the most of your cognitive reserves eliminate unnecessary decisions and simplify others. Take an example from productivity gurus like Steve Jobs, Barack Obama, and Albert Einstein andwear the same outfit every day. By not spending time and energy on picking out clothes, you have more time and energy to devote to more worth-while things.

 

4. Handle Things Once

When swift action or decision-making is required, use Harvard Business Professor Robert Pozen’s OHIO strategy and Only Handle It Once. If you get an important email that requires your attention, reply immediately and move on to the next task. Keep your day moving and keep easily finished tasks off your to-do list.

 

5. Prioritize Tasks

Sometimes the best strategies for staying productive are the most obvious. Facebook founder and CEO Mark Zuckerberg stresses the importance of getting easy tasks out of the way in rapid-fire succession:

“I think a simple rule of business is, if you do the things that are easier first, then you can actually make a lot of  progress.”

 

6. Take Vacations

In a world where everyone is always fighting to get ahead it might seem counter-intuitive to go on vacation, but more and more companies are adopting policies that make time away from the office mandatory. Taking some time to clear your head and relax can do wonders for your productivity when you return. Follow Yahoo CEO Marissa Mayer’s philosophy:

“I pace myself by taking a weeklong vacation every four months.”

 

7. Sleep

Similar to taking regular vacations, getting a good night’s sleep will recharge your brain and improve your ability to stay on task. Huffington Post founder Arianna Huffington swears by the strategy of stepping away from a perpetually busy schedule to get the necessary amount of rest (at least 7 hours a night). Not only are you more able to make decisions when you’re rested, those decisions tend to be of better quality and you are less likely to feel overwhelmed by them.

 

8. Stay Fit

Take a page from Virgin CEO Richard Branson’s playbook and treat working out like it is part of your job. Many productive people (and scientists alike) find that engaging in at least 20 minutes of moderate intense exercise each day keeps their brains working at a high level and their energy levels high to match.

 

9. Start Early

You may not love the idea of waking up at the crack of dawn but a surprising number of the world’s most productive people love to get a head start on their day by starting early. Starbucks CEO Howard Schultz takes advantage of working at a company built on foundations of caffeine:

“I get up around 4:30, and naturally the first thing I do is make some coffee.”

 

10. Keep a Routine

Let’s end with a tip from one of the busiest and most powerful men in the world, US president Barack Obama. The secret that keeps him from getting overwhelmed when the going gets tough is to keep to a strict schedule. In addition to only ever wearing blue or gray suits, the leader of the free world insists on his morning workout, dinner with his daughters, and having a late night block of time devoted to reading and preparing for the next day’s work. By limiting uncertainty, he is able to stay maximally productive.

Resources: lifehack.co

 

10 Management and Business Skills Everyone Should Learn To Be More Productive

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Business leaders measure productivity by the quality and quantity of output over input. Management seems to have a big part in a business. They decide, implement actions, and take the control. The professional skills and roles of managers are important to be adapted and put into practice not only by business people but all people who want to do and be more everyday.

1. Prioritize tasks

Lining up your daily tasks can be one of the effective ways to be productive.Focus on what is important by asking what are the things needed to be done first or by measuring the value of each task needed to be accomplished. It is essential to assess the things needed first to finish the right job at the right time.

 

2. Manage time properly

Get an early start. Doing things now instead of later is the ultimate secret that business people use to get more done, providing a schedule and record to help them track their activities and progress during the day. They reward themselves with a break that is short enough to avoid wasting time but long enough to refresh and clear their minds.

 

3. Know when to say ‘yes’ and when to say ‘no

What keeps people from saying ‘yes’ instead of ‘no’ (when they mean ‘no’) is the fear of losing opportunities. In some cases, there are people that don’t want to be rude to others and make others feel rejected, so they take the responsibility. But, it is all up to you. Come to think of it, everyone has their own desires and priorities in life. There is nothing wrong with saying ‘no’ to the things you don’t want and you are no longer interested in doing, as long as saying it will do no harm to others.

 

4. Begin with the end in mind

Business people have a clear picture of the goals they desire to achieve or to have at the end of the day, week, month or even year. It helps them focus more on important concerns. It also involves the idea of “believing in yourself” that you can do it. Efficient and timely strategies can lead to successfully achieving the goal. Nothing happens in waiting for things to come your way, so the most important step is to make it happen.

 

5. Keep on learning and finding new ways

Knowledge can be found everywhere. It is not only something people can get in school, but is also acquired through their personal experiences. Productive business people look for hobbies that will encourage their learning everyday. They explore. They are open to new great things that could help them grow mentally, physically, and emotionally.

 

6. Allocate resources efficiently

In business terms, resource allocation is the proper assignment and management of scarce resources to effectively support an organization’s goals. Management knows how to maximize their time (to get duties done before the deadline) and power (to create and accomplish more productive things everyday). They learn to value what they have today and create wise actions out of it, because not all things will be present at all times.

 

7. Use the right tools to stay productive

Productive tools can improve the level of productivity and maximize efficiency while working. Mobile phones, although not objectively stated, are obviously essential when dealing with your team, for example, in group projects, since it can bridge the gaps of communication with the members. With the rise of technology, productivity applications on mobile devices are highly useful and powerful and helps business people keep track of daily agendas and increase their productivity level.

 

8. Live for today

“Work smarter, not harder.”

Productive business people normally dwell on things they have yet to achieve, but they always have breaks intended to appreciate life and to focus in the ‘now.’ They avoid worrying about things regarding the future that can ruin the day.

 

9. Deal with the unexpected

Unexpected events can come anywhere, at any time, to anyone. Business people prepare for the worst. They learn to keep everything in mind to deliver a quick and meaningful response.

 

10. Get organized

Like beauty, organization comes from within. It has to start within oneself before other people can actually see it. Organized people know how to keep everything in its proper place. They carry a journal and love to make lists. They are busy categorizing so everything will fall into place.

Resources: lifehack.net

Why You Should Want Your Employees to Love Each Other

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There is something to be said for an environment where people feel comfortable expressing appreciation, respect and caring for their co-workers.

When employees can feel really comfortable and supported in the workplace, magic can happen — innovation peaks, creativity stirs and collaboration naturally happen. This is how really great results are produced. When you create an environment where “we win” is supported over “I win,” you will create a much more supportive and collaborative work environment. And what’s not to love about that?

 

1. Embrace differences.

Most workplaces today are extremely diverse. Backgrounds, life experiences, choices and worldviews — we all bring something different to the table. You don’t have to become an advocate for each person’s unique traits, but you can embrace those differences to benefit the workplace as a whole. Do this by looking for ways to assign people with unique talents and abilities to certain situations where they would be a good fit and by looking for common ground among people and celebrating both the similarities and the differences.

 

2. Listen deeply.

Focus on listening as much as you talk. Every person has a need to feel heard, and being a good listener can help your employees feel that they have a voice. Even if you can’t implement an employee’s idea or solve a problem she may have, your willingness to listen will make a difference.

 

3. Care about others — and show it.

It may seem easy to simply care about your employees, but it can be difficult for some bosses to show it in a genuine way. Take time to understand your employees’ points of view, and make exceptions to the rules when necessary. Make it a priority to express your appreciation to them in a genuine way.

If emotional intelligence is something that your workplace just doesn’t embrace, consider making an argument for how this can effect not just employee morale, but your company’s stock performance too. An important economic link between company intangibles, such as employee satisfaction, and broader financial performance among large publicly held companies.

So make your workplace where employees love each other. This could be the key to achieving your organization’s goals.

Sources: Entrepreneur.co

7 Mental Shifts That Allowed to Become a Young Millionaire

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1. Age is just a number.

Embrace your youth wholeheartedly. If you spin your age as an asset, which can be done in a variety of ways, it can be an extremely powerful differentiator. The moment you begin to give yourself an excuse for not being successful is the moment of almost certain failure.

If you believe you can really make it then you will make it. Besides, there is nothing people want to see more than a hard-working, intelligent and dedicated young professional who succeeds. Create a snowball of momentum that makes people want to be a part of your life.

 

2. Reinvest in yourself.

The best safest investment made is in future is Reading. Read at least 30 minutes a day, listen to relevant podcasts while driving and seek out mentors vigorously. You don’t just need to be a master in your field, you need to be a well-rounded genius capable of talking about any subject whether it is financial, political or sports related. Consume knowledge like air and put your pursuit of learning above all else.

It is critically important to spoil yourself to a healthy extreme in order to reward your hard work and avoid burnout. Consider splurging on memorable experiences and luxuries that will enhance your lifestyle. I get a weekly massage like clockwork, and it is one of the best productivity hacks I employ.

 

3. Avoid decision fatigue.

Attention is a finite daily resource and can be a bottleneck on productivity. No matter the mental stamina developed over time, there is always going to be a threshold where you break down and your remaining efforts for the day become suboptimal. Conserve your mental power by making easily reversible decisions as quickly as possible and aggressively planning recurring actions so you can execute simple tasks on autopilot.

 

4. Build a resilient mind.

The biggest differentiator between mediocrity and meteoric success is the ability to work productively for hours at a time. These long stretches are when important work is almost exclusively completed. Focus is paramount and, without intentionally developing mental stamina, you won’t be able to effectively compete with those who have systematically built up their endurance over decades in the business world.

Fast track your skills by being mindful of distractions and recognizing when you begin to wander out of focus. Perform a thorough analysis of your daily activities each night and aggressively seek opportunities for improvement.

 

5. Think big. Be big.

The science behind goal setting and its remarkable ability to accelerate success is infallible. If you don’t already have your one-, five- and 10-year goals written out and visible to you on a daily basis, do so right now. I read mine the second I wake up every single morning. Now ask yourself, what would have to happen to accomplish your 10-year goals in just one year?

The inherent power in maintaining consistency with your acknowledged goals can work both positively and negatively, and is cause for concern if you anchor yourself to a slower timeline of achievement. Be mindful and diligent in charting an optimal path that pushes you to your limit.

 

6. Be methodical.

Plan your work and then work your plan. Perhaps my biggest breakthrough was large-scale automation of my marketing systems. I created a process that allowed me to quintuple my marketing output while increasing my conversion rate considerably.

The simplest way to put your own content plan in motion is to create a multi-step campaign that touches a prospect through a variety of different mediums every week for at least a month. Follow a logical order and craft your content in a persistent way, while never becoming annoying.

Not in a sales role? You can take a similar approach to any analytical, creative or administrative position by developing rigid organizational systems that help improve your efficiency when faced with repetitive tasks.

 

7. Believe in yourself.

Someone has to make it, and nothing is stopping you from being the person who accomplishes your wildest dreams. Nearly every person who has ever failed has had an excuse. Successful people have stories of the challenges that they overcame with creative solutions. The moment you confidently feel that there is nothing you can’t learn or develop to solve the most complex of problems is the moment of guaranteed greatness.

If you still aren’t sure how to begin, start with a promise to work towards the achievement of consistent excellence each moment of every day. This is the basic building block and mentality with which I am building my career.

Keep it simple and remember that success is not an entitlement. If you really want to excel, you have to get out there and earn it every day for the rest of your life.

Sources: Entrepreneur.net

5 Pointers for Getting More from Your Team

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How to effectively communicate your expectations as a leader

Managers are taught that holding employees accountable is the key to getting results, yet they often fail to clearly communicate their expectations. Rather than getting frustrated, try these steps:

1. Know what you want first. We may assume others are being thoughtless or selfish when they don’t satisfy our needs, but we haven’t clarified in our own minds what we want. Get clear on this first.

2. Clearly communicate expectations and ensure understanding. Ask the person to summarize or re-explain. This helps make sure you’re on the same page.

3. Define your desired outcome. What do you want the end product or behavior to look like? Rather than telling an employee, “I need this ASAP,” say, “I need this by 10 a.m.”

4. Explain what you do want rather than what you don’t. Rather than saying, “Stop emailing me about urgent issues,” try, “When an issue is urgent, I would really appreciate it if you could call me or stop by my desk.”

5. Reward the positive and coach the negative. If your expectations are met, make sure to show appreciation. If not, before assuming the person intentionally disappointed you, clearly communicate what you wanted.

Resources: success.co

3 Ways to Increase Employee Vitality as You Grow

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If you’re in charge of a company with an expanding client base and quick financial growth, it can be easy to forget one key factor of your company’s success — your employees.

No matter how big your brand becomes, your company is nothing without the people who make it run. While it’s easy to think of your business as something that belongs only to you, it’s important to treat your employees as vital contributors to its health.

Keeping employees invested and engaged during your growing pains takes effort, but what’s worse is allowing them to get left behind. Gathered from my own experience growing a business, here are three tips to keep your team happy and united:

1. Set expectations early.

Setting expectations early on — for workloads, company culture, benefits, etc. — helps employees remain happy over time. If your team knows what they are agreeing to, they are more likely to remain involved during periods of growth.

One way to establish expectations is through a robust orientation schedule. At the onset of employment, new hires should meet with peers across all departments as well as the leadership team. Encourage team to not only share what their role is in the company and how they will interact with the new employee, but also to share some personal insights such as family, hobbies, etc. When employees can understand other roles and how their own positions interact across the company, they can feel confident in their contribution and status.

 

2. Communicate often.

How often and how well you communicate with your employees is tough and often overlooked. Whereas profits and sales are quantifiable, talking with your team is not. The communicate on a regular and consistent basis able to understand them more in term of their feeling and work task. There are also ways to incorporate communication into events that stimulate engagement. Plan a happy hour for an upcoming holiday, or do something more unique, like celebrating Monday instead of Friday. For example, our team tends to host impromptu celebrations ranging from barbecues to work-hours parties such as our event to unveil a new logo. Although these get-togethers seem simple, they create avenues for communication where your team can enjoy the benefits of their hard work.

 

3. Get to know your employees personally.

As your brand continues to expand, it can become stressful to sacrifice valuable work hours to spend time with your employees. However, during periods of growth, knowing your team personally is important. Employees who feel a direct and genuine connection to upper management will feel a stronger relationship and accountability to their company, too.

Finding the time to build personal relationships starts with setting the time aside. Rather than just saying you will meet with employees, budget real time into your calendar and then stick to it. There are many fun ways to schedule this time. For instance, I like to host monthly feedback lunches. Not only do these lunches give me the chance to learn more about my team in a casual setting — we all share a fun fact about ourselves — but they are also a great opportunity for unfiltered company feedback.

Not only does consistently interacting with your employees build relationships, but it also weeds out the weaker connections. When you create a culture where everybody works together toward the same goal, it’s likely a mutual feeling when it’s not the right fit. By setting expectations early on, it’s relatively easy to tell when an employee’s values and objectives are not aligned with the company’s. Separation becomes natural, and when employees do leave, it’s typically for the right reason — or another sensible opportunity — not because they feel left behind.

There’s never a wrong time to start engaging employees and building out the practices to do so. While you might not be in a state of growth right now, you can only hope that one is just around the corner.

Sources: Entrepreneur.co

10 Practices for Becoming a Self-Made Millionaire

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Becoming a self-made millionaire is no easy task. Yet, for the individuals who have accomplished this major feat in the past, the process involves following a few set rules like these or guidelines that have proven to help self-made professionals, no matter what industry they may be in. If you have your sights focused on a life as a self-made millionaire then consider these rules to live by.

 

1. Do it for the challenge.

If you ask any self-made millionaire why they got started in the field they did, chances are they will not just say “to make a million dollars.” The true story behind most people’s success is that they wanted to accept the challenge of following their dreams and becoming successful on their own terms.

 

2. Never get too comfortable.

There should never be a time in your journey to the top where you stop and think “Ok, I’ve done enough, I can stop working so hard.” If you’ve met your goal and made a million dollars, set another one. You should never be comfortable, you should always be working for more.

 

3. Study and work harder than anyone.

No matter how talented you are, you will never reach your full potential success unless you are willing to study and work harder than anyone else. This is the only way to truly achieve your goals.

 

4. Learn from failures and mistakes.

You are going to make mistakes and you are going to fail. How you react to those failures is what makes you successful. If you fall, don’t get down on yourself, but look at why you failed, take it as a learning experience, brush it off and move on.

 

5. Read every day.

This rule cannot be emphasized enough — you need to be reading all the time. Never stop reading and never stop finding new topics to read about. You need to keep aware of the cutting edge movements within your industry to stay ahead of the trends.

 

6. Keep your mind and body healthy.

Exercise along with mental health breaks are all an important part of being the most successful version of yourself that you can be. Work out daily, eat right and always get plenty of sleep.

 

7. Surround yourself with successful like-minded people.

Surrounding yourself with the wrong people can be a major drain on you. Make sure that you are around people who share your same goals and visions, who are motivated and are true peers that also want financial success. Being around these individuals will motivate you and help you stay focused. Avoid people who don’t care about work. People who spend all of their time partying are not good for your success.

 

8. Give to the less fortunate and take care of loved ones.

We’ve talked about taking care of your mind and body, but it is also important to take care of your soul. Never lose sight of the world around you and those who are in need. Taking care of your loved ones is one of the best ways to enjoy your financial success.

Give back to those in need. I started my Timothy Sykes Foundation to help those who are less fortunate. It has really made a difference in my perspective and work ethic.

 

9. Be honest and transparent.

Lying and being deceitful will never get you as far as you think. You need to always be honest, straightforward and transparent with people. This is a truly important and undervalued practice that will help you earn the long-term professional success you have always wanted.

 

10. To succeed think long-term, not short term.

So many people are focused only on their short-term success and have goals like “I want to make X amount of money in the next year.” Don’t focus on short-term goals, focus on the long-term big picture of where you want your life to be. These are the types of goals that will get you motivated to being truly self-sufficient and building actual wealth for you and your family.

While there undoubtedly is a certain amount of challenge that comes with becoming a self-made millionaire, if you keep these rules in mind and learn from the success of those who have accomplished this goal in the past, then you will be armed with the insight you need to help make your financial goals a reality.

Resources: Entrepreneur.co

Are You a Manager or a Leader? Here’s How to Tell the Difference.

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Within any organization, systems and structure is required to ensure that all the trains run on time. Having an applied universal system in which all members can follow and abide by is a great way to uphold standards, increase accountability and promote unity. You need people whose responsibility is carrying out these systems and assuring that they are implemented properly. Throughout time, these people have held many different names and titles — chief, official, lord and duke, just to name a few. In today’s day and age, we have added new positions to the list, such as supervisor, CEO or manager.

While the names attached to these positions of power are constantly shifting and fluctuating, there is one title that has transcended the years and remains the same — leader.

The reason for this is that a leader can accomplish things that none of these other positions can. Leaders possess unique qualities and traits which prevent them from being molded or classified as simply a supervisor or manager. Here are a few of these qualities.

 

1. Followers versus subordinates

Managing those below you means overseeing your subordinates. Delegating responsibilities, designating tasks and expecting results in return is the way in which a manager operates. Those working under a manager will do what they are told, not because of any blinding devotion, but in expectation of a reward, be it money, accolades or a possible promotion.

In contrast, the most obvious and apparent indicator of a leader is one who has followers. A leader does not have people below them but rather people behind them. Those who work for a true leader are constantly encouraged and inspired, and this is the driving factor behind their work. When you have followers instead of subordinates, they will strive to go above and beyond to achieve a goal, will stay loyal to you through the ups and downs, and will, most importantly, place their trust in you.

 

2. Sustainer versus grower

When a manager is considering how best to achieve their goals, they are usually concerned with sustaining whatever it is they are managing. That is to say, they think of the best ways to maintain the system in which they find themselves. While there is not necessarily anything wrong with this, it does not leave much room for advancement or expansion.

If you are only concerned with how to keep things running the same way, you will become stagnant and, consequently, invite others to surpass you. A leader is someone who is constantly looking forward. They are innovators who possess a growth mindset and are not comfortable with simply performing at the same level.

Marshall Goldsmith says it best in his book, What Got You Here Won’t Get You There: How Successful People Become Even More Successful. Sometimes the systems and strategies that got you to where you are will not take you to the next level. Managers sustain what they have, and leaders shift and change to take their team to the next level. Each day we get older, we become less flexible. Leaders who grow people and organizations know that and try to become more agile each day. When a leader is in charge, they will strive to venture into uncharted territory and reach heights that others may not even think possible.

 

3. Systems versus people

A good manager knows how to work within a system and ensure that others are doing the same. With that being said, their main concern is to perfect the system and then to work different people into it. On the other hand, leaders put people first and create systems to support the people themselves. Leaders have the ability to relate with and understand people. This skill means that they can get the best out of those that they work with, and adjust the system accordingly.

Focusing on the team members who are actually doing the work gives you access to a wealth of knowledge and potential that a set of rules, company policy or handbook, could never provide.

Looking at these traits, it is easy to understand why the title of leader stands in a category of its own. A manager serves an important role and is vital to organizational success, but a true leader is invaluable. Knowing the difference between the two is imperative. If you can recognize and understand what it takes to be a leader, you can then use that knowledge to develop your own leadership skills as well as the skills of the people around you.

It is also important to realize that although these traits can and should be found in every leader, there is no universal handbook to leadership. We are all individuals with our own backgrounds, strengths and weaknesses. Therefore, it is inevitable that everyone’s leadership style will be different. Herein lies the beauty of leadership. To be a proper manager, you must follow the rules and keep the order as best as possible. To be a leader, however, you have to think creatively, add your own personal flair and inspire as many people to join you as possible along the way.

Sources: Entrepreneur.net