If You Want to Be a Successful Entrepreneur, Take Note of These 7 Lessons

While everyone seems to have a good business concept, few ever execute their ideas successfully.
If You Want to Be a Successful Entrepreneur, Take Note of These 7 Lessons
By: Alejandro Saracho

One of the main objectives of creating a business is related to the generation of wealth: for the environment, for society, and for the business owner.

The generation of wealth is related to money and its correct management. Many entrepreneurs start their business as operators or technicians and never delve into money management. That makes their businesses stay small or not survive over time.

That is why I decided to write this article entitled “7 secrets of money to undertake successfully”:

1. Entrepreneurial Mindset

Many people think that all they need to start is a good idea. Unfortunately, it is not like that, good ideas abound everywhere and are destined to die if you do not have an entrepreneurial mindset.

Creating a new business requires hard work, high tolerance for frustration, being willing to carry on when it seems like all is lost, implementation, implementation, and more implementation. But above all, it requires an obsession to achieve your dreams, more than an obsession to generate money.

If you look for money, your chances of success will decrease (because at the beginning you won’t have it). If you seek to transform people’s lives and make a change on the planet, money will come as a consequence.

So do you or do you not have an entrepreneurial mindset?

2. Viable Business Model

Most people who start a business become obsessed with their brand and their product, and this is one of the most common mistakes I see in entrepreneurs. Your brand and your product are worth nothing unless they show that they are capable of generating money.

  • First: you need to make sure that someone is willing to buy your product/service. Describe who your valuable customer would be, approach people who meet the characteristics, and see if they are willing to buy.
  • Second: you need to develop your business model — that is, know how to interconnect all parts of your business. You need to know how you are going to attract prospects, how you are going to convert them into customers, how you are going to produce and deliver your product or service, how you are going to charge, and how you are going to pay. When you have it assembled, you will realize that your model requires money to function. Those are your costs and your expenses.
  • Third: you need to make your financial statements or your numbers and make sure that your business is profitable and scalable. You find profitability when you calculate your sales minus your costs and minus your expenses. You find scalability when you validate that there are many people who meet the characteristics of your valued customer, that you can serve them through your business model, and that you have enough money to start and maintain it.

If you meet these three points, we can say that your business is viable. If you realize that it is not, you can adjust your business model as long as you validate that someone is willing to buy what you offer.

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3. Absolute Austerity

One of the mistakes people make when starting their business is that they buy and overspend. They look for the best computer, the best offices, the best car or they use their money on things that are not directly related to generating sales.

A principle that Carlos Slim uses that I highly recommend is called Absolute Austerity. When you buy something, make sure that it is directly related to the generation of sales.

If you need a computer, ask yourself which computer meets your basic needs (not which one meets the needs of your ego). And ask yourself, if I buy a more expensive computer, will this increase my sales?

4. Cash Flow

Cash flow is the gasoline that drives businesses. Many businesses that are highly profitable (that is, that generate profit), die because the entrepreneur or business owner did not know how to manage their cash flow.

There are three levers that I recommend to manage your cash flow well:

  • The first: charge before and pay later. In this way, you can finance your business with the money of your clients, instead of you becoming their bank.
  • The second: handle low inventories. One of the places where your money gets stuck is in inventories if you have too much of it. Try not to give in to the temptation to buy too high a volume for a discount.
  • The third: reserve of protection. Try to have enough backup money to pay for one to two months of business. There are always fat cows and skinny cows. When you don’t have the money to pay for the lean operation, a profitable business ends up going out of business.

5. Reinvest Your Profits

One of the temptations of the entrepreneur is to spend his earnings as soon as they arrive. My suggestion is to reinvest them in the same business. You can use them to attract more prospects with marketing and sales or to streamline your operation and lower your costs and expenses.

Until when should you reinvest your earnings? Until you have reached a good critical mass and the business can operate even without you.

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6. Plan Your Transition

One of the questions that I get asked the most is: when is the right time to quit my job and dedicate myself fully to my business?

The answer is when your business is able to generate enough money (consistently and constantly) to replace the salary that your work generates.

It is important to plan the transition with clear goals and objectives. In such a way that you say: in six months the business must leave me this amount of money. When I reach this amount of money I will quit my job. This way you will know where to focus and when the transition will occur.

And I know that many entrepreneurs are kamikazes and are willing to quit right now.

Can you do it and achieve it successfully? Of course. However, if you want to avoid or lessen the impact of entrepreneurial trauma and emotional crises, I recommend planning your transition.

7. Continuous Learning

This part is essential for any entrepreneur. You need to be willing to continually learn if you want to be successful. If you don’t like learning, maybe entrepreneurship is not for you because, in a short time, you will become obsolete and the business will end up failing.

Now, there is a type of education for every purpose.

  1. If you want to learn to be a better collaborator in a company, you need to consider academic education (such as masters, diplomas, specialties).
  2. If what you want is to learn how to generate better results in your business, what you need is focused education (such as conferences, seminars, workshops).

The difference between the two is that the first gives you a lot of theory (and takes a lot of time) and teaches you how to run someone else’s business and the second teaches you implementable principles (in a short time) and teaches you how to run your business.

What is the first thing that I recommend you learn? To manage your money. To manage your personal finances.

Business money is a reflection of how you handle your money. If you learn to do it, you will achieve that your business generates sustainable results.

Related:

30 Ways to Become a More Successful Entrepreneur (neilpatel.com)


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How To Survive The Upcoming Hyperinflation Predicted By Michael Burry

Dr. Michael J. Burry from the “Big Short” Fame Is Warning People of the Upcoming Hyperinflation of the U.S. Dollar. And, Again, No One Is Listening.

Dateline: Creve Coeur, MO. USA/February 26th, 2021/By: Jeffrey L. Klump


He made a name for himself shorting the sub-prime housing market in 2005.

Dr. Michael J. Burry made billions for himself and his investors when he decided to short the housing market.

Everyone at the time thought he was crazy.

This writer told people in 2003 that there would be a major crash in the real estate/housing market.

I was laughed at and told real estate never goes down.

Enter Michael Burry once again, and on February 20th, 2021, when he sent out a Tweet Storm from his Twitter account Cassandra@micaeljburry.

In the tweets that were sent, which have since been deleted by Twitter, Burry warned everyone that we are approaching a hyperinflationary event for the U.S. dollar, similar to what happened in Weimar Germany in the 1920s.

Here is part of that saved Tweet from Michael Burry: People say I didn’t warn last time. I did, but no one listened. So I warn this time. And still, no one listens. But I will have proof I warned.

You can already see hyperinflation in asset prices including the U.S. stock market, bond market, and real estate market.

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All of these markets are at all-time highs and none of these markets reflect any sense of reality.

Here is another excerpt from Michael Burry’s Tweetstorm:

The US government is inviting inflation with its MMT-tinged policies. Brisk Debt/GDP, M2 increases while retail sales, PMI stage V recovery. Trillions more stimulus & re-opening to boost demand as employee and supply chain costs skyrocket. #ParadigmShift

The U.S. dollar has already been hyperinflating in terms of the U.S. stock market and bond market.

When you see markets like this at unreal prices, that is hyperinflation in terms of those assets because prices are measured in U.S. dollars.

The U.S. dollar has hyperinflated in terms of Bitcoin #BTC as well.

Bitcoin was over $60,000 U.S. dollars at one point during the past week.

In some African countries, Bitcoin is over $80,000 in terms of their country’s paper currency.

If you need information on Germany’s Weimar inflation during the 1920s, Click Here.

There are 2 assets that have yet to hyperinflate versus the U.S. dollar, and when they go hyperbolic, it is game over for the U.S. dollar empire.

Those assets are physical gold and silver.

Both of these assets are affordable in terms of the U.S. dollar, but that will not last long and you will have trouble finding both. They are in very high demand.

Michael Burry has a knack for seeing things unfold in the future because he actually sees things right now in reality. Not as if he wants them to be, but as they really are.

Even Bank of America is sounding alarm bells regarding the hyperinflation of the U.S. dollar. Click Here to read.

Gasoline prices are already going up. Joe Biden is taking the blame for it, but he has nothing to do with the increase in the price of oil.

Gas and food prices are going up because the U.S. dollar is failing. It is in the early stages of hyperinflating in terms of retail goods and services.

Listen carefully to the smartest man in the world, Clif High from HalfpastHuman.com. He talks about “Wooflation” which is a combination of inflation, deflation, and hyperinflation. 

The only way that you will be able to survive the hyperinflationary storm of the U.S. dollar, is to get out of the dollar, as much as possible.

Do what you can to find hard assets like physical gold and silver.

Another asset you may have access to is Trees. Lumber prices are at an all-time high.

Wall Street has rigged the system in both the stock market and bond market to their favor.

This was proven just recently by the Reddit Raiders and their unbelievable short on GameStop.

That event alone showed the whole world just how rigged and fraudulent the U.S. financial system in total, is being manipulated.

Click Here for the full story.

You want anything physical and tangible.

Take your money out of the banking system.

Physical paper dollars will have some value for a period of time, but if your bank fails, you are screwed. Don’t expect the government to come save you. They will be putting out all kinds of other fires.

Water and food should be at the top of your list to have on hand. You cannot survive without them.

This is the second phase of the financial collapse that I have been predicting.

The first phase was in 2008.

Are you ready for everything and anything?

People say I didn’t warn last time. I did, but no one listened. So I warn this time. And still, no one listens. But I will have proof I warned.” Dr. Michael J. Burry

Related:

https://www.zerohedge.com/markets/michael-burry-warns-weimar-hyperinflation-coming

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Jeffrey L. Klump is a writer, blogger, work from home business opportunity specialist, and currently working on the book, “Post Traumatic Stress Isn’t Just For Soldiers”. You can contact him here.

 


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5 Powerful Reasons Why You Should Write Down Your Goals

Goals Serve a Purpose, but You Need to Be Thinking of Them Often
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Published on Jan 1, 2021

By Amanda Dudley

Image Credit: Unsplash


The year was 2017. Ninety-nine year old Annie was pictured smiling as a policeman handcuffed and led her into a cell. You’ve probably never seen a smiling convict before but Annie’s case was a little different. While most people would be shivering at the thought of being placed in a damp, dark cell, she had just achieved one of her life-long goals: getting arrested.

Everyone on earth (including your cat) has goals – from the Forbes-worthy plans to the downright ridiculous ones that would probably top the “craziest life goals you’ve ever heard of” list. The 6-year old girl down the street wants to own Disneyland someday, while your cat probably wants to become the only owner of your house. These goals can be achieved. However, the big question is how? How do you stop your goals from just ending up as unchecked items on a bucket list?

Even though there’s no clear-cut formula for success, one way to ensure that you can actually achieve your goals is to write them down. In fact, psychological studies have shown that people who write down their goals are 42% more likely to achieve them than people who don’t. But don’t just take our word (and statistics) for it. 

Here are five solid reasons why writing down your goals is a surefire formula to success:

1. Increases motivation

Most people say that the Bermuda Triangle is the hardest thing to find. However, this isn’t exactly true. Do you know what’s harder to find? Motivation when you need it the most. For a lot of people, it’s quite easy to set and map out personal or professional goals. On the other hand, when it comes to actually take action, their zeal suddenly disappears. An easy solution to this problem would be to set a goal and then write it down immediately. 

Studies have revealed that when you write down your goals, the motivation to achieve them increases substantially. Subconsciously, you would feel committed to the objectives you’ve written down and as such, take the necessary steps to achieve them. Writing down your goals is just like giving yourself a subconscious command. Consequently, each time you get distracted, your brain will subtly remind you of your goals and aspirations. 

“If you want to be happy, set a goal that commands your thoughts, liberates your energy and inspires your hopes.” —Andrew Carnegie

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2. Makes it easier to remember 

Believe it or not, a large number of people often forget their goals or aspirations. With the hustle and bustle of modern life, it’s far too easy to get distracted and forget about any goals or New Year resolutions you may have set. However, putting your goals on paper helps to enhance remembrance. Ever heard of the generation effect? If you haven’t, here’s a quick breakdown of this neuroscience term. The generation effect is a phenomenon when a person finds it easier to remember information generated by their own mind, rather than the information they read or picked up from a book. When you write something, your brain automatically assumes that it’s important and focuses on it. 

For instance, if you read a travel guide to Paris, you’d most likely remember only a few bits and pieces from it. However, when you jot down salient points from the guide in your own words, your brain knows that this piece of information is more important than the one you just read from the guide. As such, you’d find it easier to recall it later. This is basically how the generation effect works.

Even though the generation effect seems like a fancy term, it’s more common than most people think. When you map out your goals and write them down, your brain assigns importance to them and as such, makes it easier for you to recall them. 

3. Helps clarify your goals 

Let’s admit it, our goals can be a little vague and non-specific sometimes. For instance, let’s assume your goal for the year was to do something daring. In this case, your goal for the year could end up in an epic fail because you’d spend so much time trying to choose a daring task. 

It’s even harder because “daring” could mean anything, ranging from hiking up Mount Everest or drinking a bottle of hot sauce without water. However, writing down your goals would help to narrow your focus and clarify what you really want to do. This way, there’d be no room for confusion or dilly-dallying. 

4. Enhances hope

Hope is one extra reason why you should be writing your goals as soon as you set them. When it comes to achieving one’s goals and aspirations, hope is an essential factor. Without hope, you’d most likely lack the drive to take the necessary steps towards achieving your target. 

Writing down your goals and committing to them fuels hope and gives you something to look forward to. When you’re hopeful, you’re able to achieve your goals in no time at all. 

“Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success.” —Pablo Picasso

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5. Sets boundaries between wishes and goals

What’s the difference between a goal and a wish? A shooting star. Just before you chuckle or roll your eyes at this joke, it’s important to note that there’s a whole world of difference between goals and mere wishful thinking. 

Before your goal is written down, it’s just one of your thoughts or longings. However, the moment you pen down your goals, you give it substance and transform it from a wish to a target. It becomes something real and tangible. You could even set deadlines and action plans. This way, you won’t spend hours building castles in the air when you have a real target. 

Any dream or goal can be achieved eventually. Sure, it may take time, but a great way to kickstart your success is by penning down your goals. Writing down each goal spurs your subconscious into action and transforms your passive longing into actual targets. This way, the distance between you and your aspiration will be shortened. At the end of the day, who needs shooting stars when you have a pen and paper?

 

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(For additional information on goal setting for 2021, go to =>Why You Should Write Down 100 Goals For 2021 And Beyond (addicted2success.com)

RELATED TOPICS:CONSISTENCYDETERMINATIONGOAL SETTINGHOW TO ACHIEVE YOUR GOALSHOW TO BE SUCCESSFUL IN LIFEHOW TO GET WHAT YOU WANTHOW TO SET GOALSNEVER GIVE UPPUSH YOURSELF FORWARDTHE DOMINO EFFECTDON’T MISSStop Apologizing for Pursuing a Successful Life

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Amanda Dudley

Amanda Dudley is a writer and a lecturer with a Ph.D. in History from Stanford University. When she is not lecturing and helping students with complex assignments, she works as a part-time essay writer, providing top-quality essay writing services and academic projects. An efficient writer, she delivers projects in good time, ensuring that her clients are satisfied and content.



 

How To Develop Traits For Success From 7 Entrepreneurs

7 Entrepreneurs and Their Traits That We All Can Develop for Success

Published 4 hours ago

on Sep 15, 2020

By Madhur Kushwah


Succeeding in life and entrepreneurship takes more than just desire and passion. According to many successful entrepreneurs, life rewards people who take time to cultivate their minds for success.

If you have read Napoleon Hill’s Think and Grow Rich, you might recall his idea of a mastermind alliance. In case you’re not familiar with the book — a mastermind alliance is “a friendly alliance with one or more people who will encourage one to follow through with both plan and purpose.”

Imagine what wonders you would make if you could have the most successful people as your allies. In this blog post, I have listed 7 successful entrepreneurs and their advice to develop traits for success.

1. Gary Vaynerchuk – Enthusiasm

“If you 100% enjoy the chaos and the unknown, you’re an entrepreneur.”

Running a business involves dealing with many people and shouldering several responsibilities; at times, working this hard can exhaust you to unexpected levels. That’s why entrepreneurs need to be pleasantly energetic. 

If you have watched any of Gary’s videos, you can visibly tell that his energy is on another level. Being energetic helps Gary work long hours, like 12 – 14 hours a day. Gary suggests practising natural optimism for high energy.

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2. Grant Cardone – Confidence

“Comfort makes more prisoners than all the jails combined.”

Having confidence in your abilities will take you places. While on your entrepreneurial journey, people will point fingers at you for your decisions, choices and desires, but how you respond to them will depend on you.

The degree to which you have faith in your skills and vision will drive your efforts. If you have confidence in yourself, you’ll not budge from your goals. Confidence will also allow you to do more for other people. Keep doing the difficult things to build confidence, says Grant.

3. Narayana Murthy – Courage

“Progress is often equal to the difference between mind and mindset.”

Courage is the differentiating factor between successful and the rest. Entrepreneurship requires you to go out and make decisions that no one else is making. To do that, you need courage. 

Many entrepreneurs fail not because they lack skills or resources, but because they shrink when they should expand. All the stories we hear are stories of courageous decisions and not cowardice. Without courage, there is no progress in life and business. According to Murthy, openness to new ideas is what makes people and organizations courageous.

4. Mark Zuckerberg – Change

“People think innovation is just having a good idea but a lot of it is just moving quickly and trying a lot of things.”

Change is the only constant in life and entrepreneurship, and people who realise this are usually the ones who change the world. Often we make the mistake of sticking to one way of looking at things, which hinders our progress. Learning how to move quickly and at the right time is the winning formula of the game of entrepreneurship. Mark states to move quickly, “iterate, learn from the feedback and go from there.”  

5. Bill Gates – Gratitude

“Through it all, what makes you happy?”

On your entrepreneurial journey, there will be instances where you’ll feel dissatisfied with your progress. To keep dissatisfaction at bay, practise gratitude — it’ll keep you focused on your destiny. 

Helping others to achieve their goals is one of the many ways to practice gratitude. You can also do philanthropic work to express gratitude. Practising gratitude generates a cycle of good relationships by promoting others to do generous work. Giving $41.3 billion away is how Gates expresses his gratitude.

6. Jeff Bezos – Patience

“Put the customer first. Invent. And be patient.”

Sticking to a long term vision and having patience while you build your dream is important for success. Having patience can help you stay in the present moment, and consider the big picture. If you look at Bezos’ journey, you’ll notice Amazon has been around for 26 years, but it feels like it’s been in business for 7 or 10 years, which shows how patient the multibillionaire has been in building his company.

Patience allowed Bezos to build Amazon from a suburban Seattle garage company to a multinational conglomerate. Bezos says, stay focused on long-term to be patient. 

7. Steve Jobs – Leadership

“My job is not to be easy on people. My job is to make them better.”

Leadership is the most important trait of a successful entrepreneur. When you’re at the helm of an organization, people look up to you for inspiration and effective influential decision making. The ability to influence others will help you get the best out of the people. 

Jobs has been arguably the most influential corporate leader in the last century which allowed him to build Apple from scratch. Developing leadership skills will also help you impact people and touch their lives. ‘No excuses’ is the way forward to be an effective leader.

Which piece of advice from the 7 entrepreneurs above resonated most with you & why? Share your thoughts with us below!

RELATED TOPICS:CHARACTERISTICS OF SUCCESSENTREPRENEURIAL TRAITSHOW TO BECOME AN ENTREPRENEURHOW TO SUCCEEDJEFF BEZOSLEADERSHIPSTEVE JOBSSUCCESS ADVICESUCCESS TRAITSSUCCESSFUL LIFEDON’T MISSThe One Mindset You Need to Focus on to Thrive in Times of Uncertainty

Madhur Kushwah

Madhur Kushwah is a certified content marketer. Currently, he writes for a leading ed-tech company and Marketing Hashtags. Connect with him @madhur_kushwah!


How To Let Your Inner Leader Out

The 5 Ways On How To Let Your Inner Leader Out

Dateline: September 10th, 2020

By: Ben Grant


For some reason, many people think that such words as “leadership” or “leadership qualities” refer only to extraordinary people. But these words are not as special as they might seem to many. What is more, every person has the potential to become a leader, the only thing you need to do is wake certain qualities up. If you are doubting your skills, then our tips will help you reboot your inner leader. Below you will find out about the most common problems that prevent you from enhancing your inner leader, and the top five tips to help you solve them.

Why Don’t Most People Show Leadership in Life?

There are several common reasons that prevent many people from becoming leaders.

  • Unwillingness to Stand Out From the Crowd – Most people like to “live like everyone else” and go with the flow. In most cases, this is the result of their childhood experience. After showing an initiative at an early age, they received rejection or criticism. Therefore, the majority strive not to stand out from society, and calmly do what they are asked or ordered to do.
  • Internal Fears – Many people cannot reveal their inner leader due to the presence of fears and low self-esteem. The most common fear is the fear of failure. By the way, all this interferes not only with the manifestation of leadership qualities but also with living the way they really want to live. It is extremely difficult for many to cope with these fears on their own, but it is even more difficult to decide to fix these problems with the help of psychologists. Therefore, only a few become successful and can show their leadership potential.
  • The Misconception About Inner Leaders – Some people think that they will be able to show their leadership talent when needed. But in practice, they never reveal their potential. What is more, such people purposefully miss many opportunities and think that they will prove themselves next time.
  • Disbelief in Your Own Leadership Qualities – Many people think that leaders are born, not made. This stops them from awakening their inner leader and somehow expressing their individuality. Such people admire their successful peers but do not even know that they can do the same.

If at least one of the reasons seems to be about you, then it’s time to work on yourself and awaken your inner leader. It is important to remember that you have to follow the road to success day after day, since you cannot arrive at your final destination instantly. Therefore, the following tips will help you change your life.

“Do not follow where the path may lead. Go instead where there is no path and leave a trail.” – Ralph Waldo Emerson

Five Simple but Effective Tips to Awaken the Inner Leader:

 

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1. Look Inside Yourself

In order to become a leader, you need to start working on your personality. To lead other people and make them listen to you, you need to learn to lead yourself and be able to hear yourself first. It is a lot of work, but it is the key to success. The ability to lead yourself will allow you to become a leader for others. Consider the following 3 questions:

  • Why do I want to be a leader?
  • What will the development of leadership potential bring?
  • How do I need to act and think?

When you start to understand yourself, learn to listen to yourself, and put everything on the shelves, then you can start to act. Therefore, the first thing to do is to begin to understand what leadership means to you. 

Try to return to the above questions as often as possible, since, as soon as you start working hard in order to better yourself, your answers will change. These responses will guide you towards unlocking your inner leader.

2. Find and Accept Your Uniqueness

It is extremely important for you to bring out your uniqueness. Most people think that they are not that different from other people but, in fact, this is not at all the case. 

List your strengths and unique abilities. Each leader knows his or her strengths, and each person has them. Most people think that it’s necessary to work on weaknesses, taking your strengths for granted. But to awaken leadership qualities, you need to start by working out the strengths. This does not mean that you shouldn’t pay attention to weaknesses at all, surely, you should work on fixing the critical ones too. But keeping the focus on your strengths will help you to boost your self-esteem and awaken your inner leadership potential.

3. Leverage Your Public Speaking Skills

Unfortunately, many people have a fear of engaging in discussions, and this may be the result of negative experiences. If this is familiar to you, then you need to learn how to fix it. Perhaps people are not listening to you because you speak incoherently or not clearly. Therefore, reading classical literature and video recording your speeches will become paramount in solving these problems.

Whilst everything is obvious with the first, the questions may arise about the second one. Pick a topic and start talking about it on video. After that, see what you have done, and your mistakes in your speech will immediately become apparent to you. Be sure to write down each problem, and the next time you do this exercise, try to fix it. By the way, this exercise will help not only improve your speech but also help to cope with the barrier of starting a conversation.

“It usually takes me more than three weeks to prepare a good impromptu speech.” – Mark Twain

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4. Learn to Control Emotions

Most likely, you paid attention to the fact that you are more engaged when listening to those people who are emotionally balanced. Often such people emit positive emotions, but they never overplay them. So the next challenge will be to learn to control your emotions, calmly respond to criticism and always keep your emotional state under control. Real leaders are hard to drive mad. The previously mentioned exercise with video recording can help you with this too. For example, you may start a private video blog, and make a short video every day analyzing situations that happened, your emotions, and the ways you responded to them. 

5. Be Yourself

Staying true to yourself and your principles is an essential skill of every leader. Most likely, in the early stages of working on your inner leader enhancement, you begin to follow the example of some famous leaders and copy their demeanor. Hence, the best thing is to reveal your strong sides and be authentic. Of course, you can and should take examples from great leaders, but you don’t need to copy them. Be unique and true to yourself!

Now you know what you need to do to become a leader for yourself and for other people. The main thing to remember is that leadership is what you make of it. When you learn to control yourself, understand your actions, improve your speaking skills, then you begin to develop as a leader further. Implement these five tips, and get a solid chance to succeed.

What do you think is the most defining characteristic of a great leader? Share your thoughts with us below!

RELATED TOPICS:BE A LEADERCHARACTERISTICS OF A LEADERHOW TO BE A LEADERHOW TO LEAD PEOPLELEADERSHIPLEADERSHIP TRAITSLEARN TO BE A LEADERPUBLIC SPEAKINGSELF-CONFIDENCESELF-ESTEEM

 

 


 

 

 

 


How To Be A Successful Leader From Home

Before the pandemic, working from home was something that a few people did and a lot more were interested in trying out.

Before the pandemic, working from home was something that a few people did and a lot more were interested in trying out. Now it’s rather suddenly become a fact of life for entire workplaces and teams, and many of us are still working to adapt. If you’re finding it difficult to manage some elements of working with your team or even staying on top of your own workflow and habits in this new normal, here’s some great advice compiled from my clients who are experienced in successfully working and leading from home

For Your Team:

Overcommunicate, especially when things are uncertain. Provide additional detail and context to make up for the information people can no longer pick up organically in casual conversations. Be as clear and consistent as possible to keep everyone moving in the same direction.

Raise the flag if something looks off. It’s important to speak up, because it’s harder to spot things that have gone awry when everyone is working separately. If you have a concern, check in to see if what others think . And if you’re spinning your wheels on a project, let your colleagues know. Identify problems early so you can start working toward solutions.

Create inner circles of collaboration. If you do your best work in collaboration with a work partner or small group, block a few hours to share a virtual room. Use technology to see each other, view each other’s screens and set up a virtual whiteboard to share ideas and work through problems.

Check in with others. Find the structure that works best for maintaining open channels with each member of your team, making sure you check in regularly. It’s more important than ever that you ask lots of questions and listen to the answers.

Recognize effort as well as accomplishments. There are fewer opportunities for recognition when everyone is working separately, so make an extra effort. In addition to celebrating wins, recognize those who are contributing extra effort and longer hours, those who are working through stressful situations, and those who have taken a risk or tried something new—even if it didn’t work out.

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For Yourself:

Start and end the work day at a specific time. Those who are new to working from home often experience burnout because they feel they never leave work. Set a schedule for the beginning and end of every work day. Of course there will be some nights you work late, but make them the exception, not the rule.

Work with your peak hours and low-energy moments. We all have times when we’re more focused and productive and times when our energy is lower and we’re more prone to distraction. An advantage of working from home is that it’s easier to balance your time, energy and productivity around your individual rhythm.

Remove as many distractions as possible. When you’re working from home, it’s easy to realize you’ve just spent an hour on social media or down an internet rabbit hole. Take social media off your work computer. Leave your phone in another room and get rid of any distractions that you know will get in the way of your productivity.

Create breaks during the day. No one can sit at a desk for 12 hours straight and do their best work. Even 15 to 30 minutes a couple of times a day can make a big difference in your focus and clarity. Treat it like a meeting and make yourself unavailable.

Exercise or do something vigorous at least four days a week. Aside from the physical benefits, exercise increases mental sharpness and makes you better at handling stress. It’s harder to fit exercise in, especially if you’re used to the routine of going to a gym, but your productivity and mental attitude—not to mention your health—depend on it.

Pay attention to your mindset. Working from home makes it extra important that you stay on top of your thoughts and mental attitude. It can be harder to find ways to clear your head, and there are fewer interactions with others to keep you grounded. Find things that nourish you—take your laptop out on the porch, play some music, read an author whose work inspires you.

Fight loneliness and isolation. Working from home, you miss out on camaraderie, companionship and interacting with others. But you don’t have to feel you’re on an island. Set up a virtual lunch date or happy hour, or create chat channels for topics of interest. Spend a bit of time every day connecting with co-workers about nonwork topics- think of it as the online version of stopping by their desk to chat.

Lead from within: Successfully working from home is a skill; it takes time and commitment and dedication to develop that skill. But with a great leader at the helm, people and teams can find their way and be as successful as ever.


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How To Utilize Data To Inform Your Sales Process

The Four Ways That Data Can Be Utilized To Inform Your Sales Process

By Dave Mattson | August 28, 2020


For as long as there have been salespeople, there has been data to analyze about the process they use to bring in business. The only issue has been how effective leaders are at drawing conclusions from that data.

All too often, companies don’t make effective use of the information available to them from their sales teams. They fail to generate the most relevant data points… or they focus on information that is familiar to them but less than meaningful. These common mistakes result in, among other things, the dreaded “garbage in, garbage out” sales forecast. So: How can you as a sales leader use data to support both the organization and the sales team? Here are four questions that will help you to do just that.

Question One: Do you have a sales process? This may sound like an obvious requirement, but most organizations we work with do not have a sales process! If you start breaking down data without a systematic process in place for generating sales, the data you come up with isn’t going to do you a lot of good. Note that a sales process gives people the steps they need to follow, from start to finish, to create revenue for your organization. Every company has a slightly different process; you can think of the data generated by the various steps of your sales process as being like an MRI. When it’s done properly, that kind of comprehensive scan is going to tell you what you need to know about the internal workings of your sales team. But to be useful, the analysis must line up with a functioning sales process!

Question Two: Have you identified your expectations? What are your expectations for each of the phases of your sales process? Break the process into its constituent parts: lead development, also known as prospecting; qualification; and then fulfillment and servicing the account. These three phases can also be understood, in the enterprise world, as landexpand, and renew. So. What are the specific outcomes you want to see within each of those three areas? What are the behaviors that make those outcomes possible? What are the departmental benchmarks – meaning what are your time-bound goals for behaviors that will land new business, expand existing business, and renew relationships with your best customers? Once you know that, you can break it down. What are the team benchmarks? What are the individual benchmarks? Set specific expectations. Hopefully, you’ve overlaid some competitive information, and you are meeting or exceeding the relevant industry benchmarks as you work with your team to identify the right goals. Once you have set the expectations, you will have something to compare the relevant real-world data to. (See Question Three.)

Question Three: Are you measuring the right stuff? Get meaningful data. Specifically, make sure you are getting data that connects to a specific step of your sales process. Make sure you are using your CRM system as a source of actionable business intelligence… not as a demonstration of compliance on the part of your salespeople. Make sure you are tracking leading indicators (activities that predictably generate revenue, such as having an initial voice-to-voice conversation with a decision maker) not just lagging indicators (activities that connect to revenue that has already been generated, such as filing a signed contract). Often, leaders spend too much time on lagging indicators and not enough in leading indicators. Identify the leading indicators that spotlight the effectiveness of a particular step of your sales process (such as the number of times a salesperson begins a discussion about the budget). Use that data to strategize improvement. What specific tools, resources, and behaviors will help everyone ensure the needle is moving in the right direction? How will you share the data in a way that inspires salespeople to monitor – and control – their own behavior?

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Question Four: Are you looking at a problem… or a symptom? This is perhaps the most important question of all. Is the data you’re examining pointing you toward an actual problem, or is it identifying the inevitable result of some underlying issue that you haven’t yet addressed? Sometimes, what seems obvious about a sales team’s needs isn’t obvious at all. Let me give you an example: Often, companies will look at their presentation-to-close ratio, realize that it’s low, and then self-diagnose based on that. They’ll say to themselves, “Okay, we need some help; we need to get better at delivering our presentations.” They think that’s the right response to what the data is telling them. But time after time, we find that’s not the problem.  When we do some digging, what we generally uncover is that they have a poor qualification process. The majority of those people they’re presenting to, they shouldn’t have been presenting to in the first place. They had no opportunity to win. Remember: There is a time to step back and get some help in assessing what the data is really telling you.

New technologies in CRM, in artificial intelligence, voice intelligence, and in any number of other areas are giving us all access to much deeper analyses than we could have made just a few years ago. As sales leaders, we can get the right data up on the dashboard… we can use that data intelligently… and as a result of what we learn, we can do a better and better job of leading our teams and our organizations in the direction they need to go. That starts with asking ourselves the four questions I’ve shared here – so we can avoid the all-too-common mistake of trying to land the plane without an instrument panel!

Interested in learning more about how you can utilize technology and data to inform your organization’s sales process? Learn why Sandler partnered with Gong to bring a measurable, data-driven approach to sales learning programs.

 


 

How To Learn About Entrepreneurship From Colonel Sanders

The 7 Inspiring Lessons Colonel Sanders Can Teach Us About Entrepreneurship

Published 2 days ago

on Aug 30, 2020

By Graham Chapman


Colonel Sanders was rejected exactly 1009 times before he was able to sell his KFC recipe successfully. In addition to this, he failed at every job he even turned his hand to during his life. After a lifetime of facing failure after failure, he finally sold KFC at the ripe old age of 75.

In this blog, we’ll be covering seven of the inspiring lessons that the Colonel’s entrepreneurial journey can teach us, and whether you’re 25 or 75 years old, there’s something here for any budding entrepreneur.

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Lesson #1: Failure Breeds Success

As I mentioned, the Colonel was rejected over a thousand times before he was successfully able to sell his Kentucky Fried Chicken recipe – that’s a lot of rejection. Not only that, but Sanders failed miserably at every other career he ever attempted. Between the ages of ten and forty, Sanders tried his hand at the following, among other things:

  • Streetcar conducting
  • Farming
  • Law
  • Sales
  • Fire fighting

This just goes to show that no matter how much you experience failure, there’s still time, no matter how old you are, which brings us neatly onto our next lesson.

“I’ve only had two rules. Do all you can and do it the best you can. It’s the only way you ever get that feeling of accomplishing something.” – Colonel Sanders

Lesson #2: It’s Never Too Late

When Colonel Sanders was 75, he finally sold KFC for $2 million (roughly $15 million today). Can you imagine experiencing such a win, after a lifetime of losing? I’ve met people during my career who think they’re over the hill by the time they’re in their thirties! Yet the Colonel ploughed on in the face of adversity and ended up as the founder and face of a brand we’re still so familiar with over five decades later. 

Lesson #3: The Past is In the Past

In order to be successful as an entrepreneur, many people simply need to learn that the past is in the past, and it will only define your future chance of success if you allow it to. It doesn’t matter how many times you’ve failed, where you’ve come from or what negative things you’ve experienced or done in the past.

Your past doesn’t hold the keys to your future success. The Colonel failed at every career he ever attempted. He even spent much of his life in an unhappy marriage, ending in divorce and had to provide for three children by the time he was nineteen. For most, that’d be enough for them to settle down into an unfulfilling career, but the Colonel pressed on with faith in his own abilities and principles. 

Lesson #4: Giving Up is the Only Way to Fail

Failure is a natural side effect of life; the story of Kentucky Fried Chicken tells us that quitting is the only failure. If you have the same outlook and faith in what you’re trying to do, the possibility of significant success is never off the table. Even when you see the clock is ticking and the days and years are flashing by, there’s no time limit on being a success. Never stop searching for that light at the end of the tunnel.

Lesson #5: A Fresh Start is Sometimes All You Need

It’s clear to us now that cooking was a passion of the Colonel’s, but he didn’t discover his enthusiasm until much later in his life. It’s only through having the courage to fail and start over, again and again, that he was able to discover his real calling. 

When you try to succeed at multiple disciplines, it’s a sure-fire way to burn yourself out. The start is always the hard part, and for most, the idea of doing it over and over again, in their 50s, 60s and 70s would be absolutely exhausting. The energy and passion that the Colonel showed by doing this well into his seventies is an inspiring lesson to any entrepreneur. 

Lesson #6: Take a Leap of Faith

It’s no great shock to learn that following your heart’s desire is often the key to success, happiness and contentment. How is it then, that so many of us won’t chase after what we truly want from life? Sitting back and relaxing into your comfort zone means that many of us don’t realize how vital passion and desire really are. In the end, the pursuit of a passion will make anyone happy, contented and prosperous. 

“One has to remember that every failure can be a stepping stone to something better.” – Colonel Sanders

Lesson #7: Keep it Simple

It seems crazy to say it, but Kentucky Fried Chicken started by selling chicken on the side of the road. After selling his recipe, the business grew rapidly, and these days it’s commonplace to see KFC franchises in countries all over the world – 145 to be exact. The lesson here is never to be afraid of keeping things simple. So long as you’re willing to start, work hard and keep at it, things will grow. 

It’s often the case that would-be entrepreneurs will put off starting their venture, launching their website or whatever it might be because they simply don’t believe they are big enough to make a start.

 RELATED TOPICS: COLONEL SANDERSENTREPRENEURSHIPEXPERIENCING FAILUREFAILUREHOW TO OVERCOME FAILUREKFCPERSEVERANCERISKSUCCESSFUL ENTREPRENEURSTAKING RISKSDON’T MISSWomen Trailblazers: The Most Successful Female Founder in Every Country

Graham Chapman

Graham Chapman is a sustainable product and business expert and owner of powerguard.co.uk.


The 4 Ways of How to Build a Learning Culture While Your Workforce is Remote

 

Mandating a three-hour webinar training is no longer going to cut it.

BY MARCEL SCHWANTES, FOUNDER AND CHIEF HUMAN OFFICER, LEADERSHIP FROM THE CORE@MARCELSCHWANTES


4 Ways to Build a Learning Culture While Your Workforce Is Remote

As business leaders and individuals grapple with the staggering impact of Covid-19 one thing has become undoubtedly clear. In order for leaders to foster organizational resilience and weather the post-pandemic storm, they must prioritize the learning and development of their workforce.

I don’t mean mandated Zoom presentations in which employees multitask on the side. What I mean is flexible, passion-driven learning where employees learn what they want, when they want and on their own terms.

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Shelley Osborne, VP of Learning at Udemy, offers a much-needed revision to corporate training in her new book: The Upskilling Imperative: 5 Ways to Make Learning Core to the Way We Work. In it, Osborne challenges traditional, one-size-fits-all approaches to training that are no longer relevant to modern workers–let alone those working remotely.

Shelley recommends the following to help leaders develop an effective and sustainable learning culture–with an eye toward continuous employee growth and long-term business success during (and beyond) Covid-19.

Demonstrate how learning drives business success

“When beginning to build their learning culture, leaders must consider that employees need to understand how their learning impacts business outcomes,” says Osborne.

As businesses continue to operate with limited staff or reduced capacity, it’s critical for employees to stretch their skill sets further and fill tasks and roles they wouldn’t normally. Individuals are more likely to learn and seek out learning when they understand the role it plays in overall business success.

“Leaders can signal the value of learning throughout the organization by setting aside their own time for it and sharing with their teams and the broader organization what they’re learning,” she says. “This makes it clear to employees that learning at work is not only accepted, it’s encouraged.”

Let your employees define flexibility for continuous improvement

Harnessing the power of learning isn’t as simple as rolling out more training modules or sending people to a slew of workshops.

Employees require more flexibility today than ever before, and that is especially true when it comes to learning. Due to Covid-19, parents are working double duty as busy professionals and homeschool teachers, while other employees navigate the nuances of working remotely with roommates. Bottom line: mandating a three-hour webinar training is no longer going to cut it.

Building a sustainable learning culture means giving employees time and space to learn where and when they want. Doing so will encourage them to seek out new learning opportunities independently and allow for psychological safety and the ability to learn.

“One of the greatest leadership lessons I’ve learned is that we must recognize we aren’t perfect and there is always room to learn and grow,” says Osborne. “When you have teams and businesses that provide flexibility for growth and development, we can all continuously improve.”

Focus on change agility

We need to do more to lay the groundwork for unexpected change. However, this preparedness can’t be exclusive to pandemics and recessions. We must understand and accept that change is constant, necessary, and beneficial for surviving and thriving in today’s workplace.

Osborne refers to this type of adaptability as “change agility”–seeing change as an ongoing opportunity, not as a threat or liability. And at the center of change agility is continuous learning.

“Grounding a company’s culture in learning is the surest way to navigate through change,” says Osborne. “A strong learning culture empowers employees to upskill themselves in the face of change, continually grow and adapt to new challenges.”

Continuous learning & Covid-19

If there is one message Osborne would like readers to take away from her book, it’s that learning programs must evolve with the times. Traditional approaches to training (a la overhead projector and chalkboards) were built for a world we don’t live in anymore. What’s more, they aren’t engaging for today’s workers who are accustomed to consuming digital content on their own terms. This was true before the pandemic and it’s undeniable now.

Beyond modernizing the learning experience at work–companies need to transform at every level into learning-driven organizations, where working and learning are inextricably linked.

As companies continue to navigate this new environment, Osborne is optimistic that the fundamental shift toward flexible, accessible online learning is here to stay. AUG 29, 2020. Like this column? Sign up to subscribe to email alerts and you’ll never miss a post. The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.


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