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business | The Ultimate Game of Life - Part 2

All posts tagged business

Humans Now Have a Lower Attention Span Than a Goldfish… Why Nobody is Listening to You…

Do you ever feel like nobody is listening to you? Well to be completely honest, nowadays, they probably aren’t.. Our world has evolved into mindless zombies with their eyes glued to their phones and our attention span as a result of all the media consumed is now less than that of a goldfish… The problem? Managers in the workplace are not excluded from this study…

According to ResourcefulManager.com, a website that offers advice and resources for managers, the average Fortune 500 manager scores a 2 out of 5 on listening abilities.

There’s a cost: errors, miscommunication, wasted time, and employee turnover.

listening infographic final


 

Source: https://www.resourcefulmanager.com/

The Best Piece of Money Advice From Someone Who Manages Multimillionaires Money

I think it’s safe to say we all wish money grew on trees! That way we wouldn’t have to worry about where are income came from… (we can all keep dreaming). As money doesn’t just appear out of no where and start growing , we can tend to our wealth that we do have and nurture it so it will grow to become the max potential we wish it to be… Below are pieces of advice from a man who has spent the last 16 years advising some of the wealthiest families in the United States…

Think like an entrepreneur

The enterprising family exhibits entrepreneurial creativity in many aspects of their life. They often break from tradition, accept new approaches, and take measured risks.

Entrepreneurs know that rules are constantly changing — and the same is true when it comes to building wealth. To do well, be a self-learner, hire the right expertise, and acquire creative, goal-oriented financial advice. Be a financial entrepreneur.

 

Ask smart questions and insist on answers

Don’t be afraid to ask yourself and your advisers the tough questions.

Ask yourself: Do I have enough to support my lifestyle? Do I know what will happen to my family if something happens to me? Is my wealth having the impact that I desire? Am I missing anything?

Ask your adviser: Can you get me answers to my questions (see above)? How do you get paid?

When these questions are answered, you will be better informed and gain greater confidence in yourself, your adviser, and your approach.

 

Define success, then achieve it

Take time for you (and your spouse) to clearly define, set, prioritize, and agree upon and document specific goals that you want to achieve, such as a specific lifestyle or charitable grant.

This may sound trite or even cliché, but our clients who set goals move to action quicker, make better decisions, and get better results relative to their peers. Taking a goals-based approach defines benchmarks that are relevant and meaningful for you and your family.

Have a plan

This one might seem obvious. After all, most experts advocate having a plan if you want any chance of meeting your financial goals.

But it is important to understand that “set it and forget it” is not a plan.

Enterprising families build plans that are smart, focused, dynamic, and useful. Wealthy Americans spend an average of 15 hours per week thinking about their planning relative to their goals compared to the nine hours spent by the broader US population.

If being financially successful is important, then this will be time well spent.

Track cash

In my experience, individuals often underestimate their spending on average by 25% and sometimes as much as 50%.

Further, they save less than they think they do or less than they should to meet future goals.

Most alarming, their cash reserves are dangerously low and therefore, they may be ill prepared for an emergency or call on capital.

It is critical to prioritize liquidity and automate bill payment and savings. Additionally, adopt cash flow reporting to get the insight you need to adjust your plan and make better cash choices.

 

Original Source:

 

 

These Scientifically Proven Skills Will Make You A Successfull Businessman (or woman)

Turns out, your EQ is the most important trait when it comes to being among the top successful businessmen and women… You really have to understand the people around you and know how to master and manipulate people but at the same time, earn their trust be likable. The more you understand how to work the puzzle of people in your circle of business, the more successful you’ll be:

In Dr. Travis Bradberry’s Entrepreneur article, “Why You Need Emotional Intelligence To Succeed In Business,” our EQ is made up of four core skills: self-awareness, self-management, social awareness and relationship management.

And it’s a high development in these four components that make someone with high Emotional Intelligence unstoppable.

1. Self-Awareness: How you handle your emotions

According to Bradberry, “self-awareness is your ability to accurately perceive your emotions and stay aware of them as they happen.”

High intelligence doesn’t count for anything if you can’t control it. If you don’t know how to deal with the highs and lows of business, you’ll remain on the bottom.

It may seem easier said than done, but being able to control your own emotions is key to being able to control those around you. If you can’t control how you react to new situations, bad news and change of plans, you no longer have control over the situation.


2. Self-management: How you direct your emotions

In addition to controlling your emotions, you also need to know exactly how to use them to your benefit. You have to know how to manage your own expectations, mood swings and perceptions.

Most importantly, you have to direct what you’re feeling toward the right outlet.

According to Bradberry, you have to be able to use your awareness of your emotions to stay flexible. Because when you’re able to utilize your positive emotions and stay above the negative ones, you’ll be able to fly above the competition.


3. Social Awareness: How well you understand the emotions of others

Social awareness is really just being able to read between the lines: How well can you pick up on what people aren’t saying?

Your ability to accurately pick up on emotions in other people and understand what’s really going on is key to social awareness. Once you understand how to play on other people’s emotions, you’ll learn how to interact with them and tell them what you know they want to hear.


4. Relationship Management: How well you create interactions from their emotions

According to Forbes, Israeli-American psychologist Daniel Kahneman found that people would rather do business with a person they like and trust rather than someone they don’t, even if that person is offering a better product at a lower price.

The key to success in business is trust. If people like you, they’ll work with you. And the only way to get people to like and trust you is to understand what they need to hear and feel from you.

 

Read more from the original Source:

http://elitedaily.com/money/skills-successful-businessmen/1315592/

 

Why Entrepreneurs Are, Well… Entrepreneurs

You know that saying, “If you don’t chase your dreams, someone else will hire you to chase theirs”? Well which side of this quote are you on? If you aren’t on the hiring side, maybe you’re tired of being micromanaged and underpaid because your worth isn’t recognized? If so, get inspired by just of the few perks of being an entrepreneur:

You have the ability to build something of value.

Beyond the financial benefits, owning your own business gives you the ability to create something that adds value to your community. This can be an incredibly rewarding experience.

You not only have the ability to help others, but you also can create jobs and give people a chance to learn and grow.

You have the ability to grow exponentially.

Climbing the corporate ladder is incredibly slow. Think about all the hoops you have to jump through just to get a raise or promotion.

Now, imagine you could give yourself a raise or promotion.

When you own your own business, there is no ceiling to how much you can make. It’s literally up to how hard you work. It’s no wonder three out of four millionaires in America are entrepreneurs.

You have all the control.

One of the biggest issues I had with getting a “real” job was being managed. It made me incredibly anxious knowing someone was constantly looking over my shoulder, critiquing my work and telling me what to do and when to do it.

As an entrepreneur, you set the rules.

Feel like sleeping in? Do it. Want to work on a passion project? Go ahead.

The control and freedom entrepreneurship gives you is what most of us work our entire lives for.


Original Source: http://elitedaily.com/money/perks-being-entrepreneur/1210596/

 

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