When Attitude Trumps Intelligence

You’re probably very aware that these days educational merit tends to be given great weight. It has become an accepted truth that people can only be successful in life and business if they have a university degree, and it must now be from a top educational establishment as well, not from just any old college. 

Frankly, there’s a great deal of snobbery and misinformation around this issue. It is true that education is important; I would never deny that, but we have lost our way a bit and we are also in danger of neglecting those talented people who don’t have university educations and still have something valuable to contribute to society.

Stanford University research

It’s somewhat ironic that the evidence I’m going to use comes from one of the USA’s top universities; Stanford in Palo Alto. A psychologist called Carol Dweck, whose life mission is to study attitude, has recently produced a study that reveals your attitude to life and other things is a much better indicator of potential success than your IQ.

Fixed or flexible?

Carol discovered that most of us have one of two mindsets that we operate from: we are either a fixed mindset person or we have a growth mindset. Which one do you think is most likely to lead to business success? 

Let’s see: if you have a fixed mindset, you

 “believe you are who you are and you cannot change.” 

The issue with this is that when the person is presented with any new ideas and work challenges, they tend to believe they can’t handle the ‘new stuff’ and so feel overwhelmed. They get that “rabbit in the headlights’ look!!

The ‘growth mindset’ person believes they can “improve with effort.” This person can outperform a fixed mindset person even if they have a lower IQ measurement.  Why? Well, because they believe they can learn and grow. 

They embrace change and treat new things as an exciting adventure. They are the person who says: I’ve never used social media but I’m willing to learn and they go to classes and spend hours researching techniques until they have created a whole new skillset for themselves that they can now use to find work. They didn’t need to go to Stanford, Harvard or any other university to do that.

Breaking through boundaries

You would think that people who know they are smart have more confidence than the people that society has labelled ‘stupid’ simply because they don’t have qualifications on paper. And to a large extent that’s true. 

Indeed, many of these people are over-confident. However, the Stanford research showed that many of these confident people only reaped the benefits of this feeling as long as the going is easy for them. If they can’t go beyond their comfort zone and break through the boundaries, they face problems with progressing. Growth mindset people tend to welcome setback; they see them as opportunities.

Embrace failure

Ultimately, Carol Dweck says that how you deal with failure is a huge determinant in your success. The growth mindset person looks at a ‘failure’ and says, “This didn’t work, how can I solve the problem?” The fixed mindset person tends to label things ‘failures’ and not look for ways to improve.

So, you see; your attitude can carry you through challenges more effectively than your IQ.  And that’s why you’ll discover that a lot of entrepreneurs didn’t go to university; they were too busy launching their big business idea!

Tips for Bringing Investors On Board

So, you’ve got a brilliant idea for a business start-up, and you’ve also done the right thing and put a business plan together, and now all you need is a bit of a cash injection to get up and running. You think the business plan should sell the project for you—and indeed, it’s a big part of your resources—but what you really need to get right within the plan is the amount of money you really need to get started.

I’ve been there and know that if you ask for too little, you run the risk of running out of cash almost as soon as you started. This makes you look pretty stupid to your investors when you have to go back and ask them for more cash. Plus, there’s the possibility that they won’t give you the additional cash injection. I’ve sourced some excellent tips that show you how to close the deal with investors and keep them onside.

Work out what money you need – then double it!

I advise you to always kick high when you’re pitching for money. Like I said earlier, it means you won’t run out and have the kind of interruptions that could hold your business launch back. Having a strong cash flow at the beginning is potentially the difference between failure and success.

Show optimism in your revenue figures, but provide evidence

It is all very well showing amazing revenue figures in the first few years of trading, but no potential investor will believe your figures if you don’t back them up with solid research data that shows why you’re sure that there’s good reason for the optimistic estimates. To be honest, investors know that

Keep control of your company

It is very important that you keep hold of a controlling stake in your company; otherwise you are nothing more than a minority shareholder. Do you know what that means? You can be pushed out of your own company by the majority shareholders. You risk the possibility of having no say in the future direction of your business. If investors demand a majority shareholding, I advise you to politely decline their investment if they insist on it. There are business structures that protect you from majority shareholders, and you should consult a legal expert in the commercial law of your country about what those company structures are.

Exude confidence

When you meet with your potential investors, show passion for your idea and confidence in it. Never go into a meeting where you’re asking for money with an air of desperation. The investors will see this as a weakness and probably won’t feel you’re a sound investment.

Have everything documented

Have your terms of business worked out and written down to show to investors. Only change those terms if it is in YOUR interest to do so. Also, be prepared to show the investors what you have put into the project in terms of commitment, especially if you have put money in. It gives them more confidence if they can see that you also have something to lose, because then you’re likely to work harder.

And those are the five key tips for bringing investors on board: you might also find this article on seed stage funding sources very useful when you’re deciding which investors to approach. And I wish you good luck with your endeavours!

10 Things You’ll Love About Being Alone

Some people love being by themselves; they have no trouble feeling comfortable with it and truly enjoy their own company. However, there are a great many people who have a terrible fear of being by themselves and seek the company of others at all times. I feel, that there are many advantages to being comfortable with your own company and that it is a ‘skill’ that all of us should learn.

At some point in our lives we are likely to find that we’re living solo and it’s a boost to know that you can be in that situation and not fall apart. Also, I tend to think that business entrepreneurs should treat their position as one of ‘flying solo’. So, what are the advantages of being able to enjoy life alone? Here are 10 benefits to start with:

Recharge your batteries

Being with other people uses a fair amount of energy, both emotional and physical. We have to put a significant amount of effort into keeping friends and family happy and that effort uses up fuel. Time out alone lets you recharge your batteries.

Time to think

When people and activity constantly surround you, your mind is being bombarded by distractions. It’s impossible at times to ”think straight” as they say. It is also very difficult to reflect on your own life and make new plans and decisions. You need some time alone to do this.

Discover your feelings

When we’re in company, we automatically tend to focus on catering for the other people’s emotions, unless of course we’re total narcissists who only think about our own needs. This also applies when you’re living with a partner and you focus on keeping them happy to the detriment of your own feelings. Time alone, especially when you’re in a relationship, allows you to get back in touch with the reality of what you’re feeling, untouched by consideration for others.

Please yourself

Do you like going bowling? Perhaps not, but your friends or partner do – so you go! In other words, you compromise. It’s the only way to have a relationship. But, when you’re on your own, you can do exactly what you want! And, pleasing yourself doesn’t make you selfish!

Increase productivity

Do you have a special project you’d like to start, but constant company is getting in the way? Yes, there’s nothing like time alone for increasing productivity!

Enjoy relationships more

What is it they say? “Absence makes the heart grow fonder” and there’s little doubt that when you’ve been in your solitary ‘cave’ for a while, you appreciate the company of your friends much more.

Increase your independence

When being alone is a challenge, mastering it is a great feeling and when you realise that you can be on your own without the world stopping you feel stronger and more independent.

Focus on your happiness

While you are in your own company – only your happiness matters!

Don’t apologise

Similarly, there’s nobody to apologise to. Stayed out a bit late? Well, who is going to complain? Not you!

Act alone

You will learn how to make decisions and take action without asking others if it’s OK for you to do it. You will learn to trust your own instincts!

And, there you have it – 10 great reasons to love being alone!

Whoa! I’m going to Barbados

“Welcome aboard Coconut Airways” is one of the opening lines of band Typically Tropical’s 1970s hit “Barbados” that captured the swaying palm trees and steel band vibe of this Caribbean island that has a particularly British ‘twist’ to it. 

It’s one of those happy tunes—and what they call a ‘one hit wonder’ that is irresistibly corny, but makes you feel happy, just like Barbados.  I heard a statistic the other day that visitors rate the friendliness of Barbadians so highly that it’s responsible for 39% of repeat visits to the island. It must be great for a nation to known for that rather than punctuality, or something similarly bureaucratic.

I like the Britishness of this island and it’s one of the reasons I’ve been taking holidays there for quiet a few years now. Did you know that its nickname “Bimshire” appears in the Oxford English Dictionary and that Bajans (the slang name for anyone from Barbados), which is the name for a person from Barbados, still love to take afternoon tea, although, there might be a splash of local rum in the china cups? Its name actually comes from the Spanish for “the bearded ones” and I think we can assume that when the Spaniards first landed the natives hadn’t discovered Gillette razors. I don’t blame them, I quite like a bit of designer stubble myself.

Great weather and white beaches

Barbados is in the tropics, so it’s sunny year round with an average daytime high of 30°C / 86°F. In fact, Barbados has over 3,000 hours of sunshine annually! Fortunately, because it’s surrounded by the Atlantic Ocean and its location, there are trade winds that create a cooling breeze so it’s never unbearable. Depending on what you prefer, the driest months are December to May and June to October will keep you ducking out of tropical rainstorms. I have to say that I don’t mind these, because they dry up quickly and they add a ‘refreshed’ feel. There’s something compellingly tropical about the smell of lush foliage after a rainstorm and the way the water drips off the leaves, while you’re wandering around in your swimwear.

Things I’d recommend to do

Atlantis submarines: 

if you don’t dive or snorkel, or you have kids with you, then take this underwater voyage on a craft that submerges to 150 ft and travels across a coral reef teeming with bright colored fish. The tour lasts 90 minutes, but please note that children must be a minimum of three foot tall. It’s simply brilliant and all the family will love it.

Barbados Concorde Experience: 

believe it or not, at the island’s main airport you can tour Concorde G-BOAE and watch an exciting sound and light show on the side of the plane. It’s a better way to spend your time before flying home than in the duty-free shop.

Garrison Savannah: 

it’s one of the world’s famous racetracks and a great place to go for fun and a picnic. Highlight of the Barbados season is the Sandy Lane Gold Cup. Members of Crypto888 will have an added interest in the Sport of Kings now because of the sports arbitrage betting programme.

There are lots of plantations to visit and see how they lived back in the day and you can get a really amazing Sunday lunch at Sunbury Plantation House. The historic part of Bridgetown is really fascinating and if you’re looking for some local nightlife then you must go to Oistins Fish Fry on Friday nights. It’s a street party where the women fry the local catch and there’s live calypso and reggae, plus beer and rum. Yes, of course there’s rum! I bet you want to sing “Whoa! I’m going to Barbados” now!

5 Reasons to Work with an Online Business

I know that for many of the multi-level marketing people I’ve met over the years, the opportunity to be involved with a home-based business with flexible hours is one that saved them from poverty to put it bluntly. 

I’ve met many single parents in particular who have been ‘saved’ by working with an MLM, simply because it has meant they had flexible working hours that they could fit around their children. They were also their own boss and worked when they needed to. 

The MLMs that require meeting customers in their homes and workplaces could be scheduled to fit with childcare and nobody fired anybody because a kid got sick and the parent had to stay home and look after them.

1. Make Money Online

Now I’d like to share a new MLM development with you and demonstrate why working online can give you the financial success that we all desire. Indeed, since many of us got into using the Internet, it has changed our economy in so many ways. 

Remember when eBay started? The idea of bidding for a product against a bunch of other people was really quite revolutionary. Yes, the auction idea is very old, but how many people outside of antique dealers and art collectors, go to an auction? No, eBay was a revolution because it brought the auction concept into everyone’s home. Plus, you could become an eBay seller. 

There was a home-based business right there!  And there are so many more that I could go on all day! But what are the five reasons that an online business can help you make money – well here goes.

2. Scalability

The Internet allows you to scale your business up quickly when success happens fats. If you own a bricks & mortar shop it’s much harder to grow with demand. Uber and Amazon are excellent example of success stories that have taken advantage of scalability. Some features of this are: 

• Immediate access to 3 billion potential customers (the number of people online worldwide)
• It’s inexpensive to set up a great website these days
•  Low set-up and business running costs
• Social media provides almost free publicity

3. Time is money

The Internet is pretty fast and efficient these days and you’ll find that your time to money ratio is

much better here and that allows you to focus on the big ideas rather than sweat the small stuff – the software can do that for you!

4. Creating a loyal following

An online business gives you better opportunities to create a fanbase and you’ll find that on-site reviews and recommendations, plus social media sharing are extremely effective ways of attracting new customers who turn into followers.

5. Maximise your time

The Internet has made it possible to take an idea from the drawing board to online within 24-hours if you have a mind to do that. Talk about an efficient way to get a business going! And once customers start validating your product by buying it, they’ll be freeing up your time to think of your next big idea.

Now is the perfect time!

Don’t delay – the time to get a successful business online and start making money is today! Get that website up, join that network marketing company and create your own online sales team - it will be the best investment you ever make!