September 30, 2017

Items in italics are direct quotes from the articles below

https://www.cnbc.com/2017/09/20/billionaire-mark-cuban-says-dont-follow-your-passion.html

Chances are, you’ve been advised to “follow your passion” or “do what you love” at one point in your life. Billionaire entrepreneur Mark Cuban says to ignore that conventional career advice. In fact, “‘follow your passion’ is easily the worst advice you could ever give or get,” the “Shark Tank” star wrote on his blog in 2012. Your passions “aren’t worth a nickel,” he continues. “Think about all those passions that you considered making a career out of or building a company around. How many were/are there? … Why were you not able to make a career or business out of any of those passions? “Or, if you have been able to have some success, what was the key to the success? Was it the passion or the effort you put into your job or company?” He encourages a person to follow the effort. Look at where you’re actively applying your time is the best indication of your future. The question is what are you building of value with your time? “But when I got one of my first jobs out of school using technology, it was like, ‘Wait, I love this.’ I’ve taught myself the program, I could go seven hours, eight hours without taking a break thinking it was 10 minutes because I was concentrating so hard and so excited and really loved it. “And that’s when I realized that I can be really, really good at technology.” Cuban argues that when you spend more time working at something, then you will get good at it, and as you get good at it you will enjoy it. “When you enjoy doing something, there is a very good chance you will become passionate or more passionate about it,” the billionaire writes. “When you are good at something, passionate and work even harder to excel and be the best at it, good things happen.” Monitor where your time and effort is going, and monitor to see if you are truly becoming an expert at it. Passion is a process, but the most important step you can take is the first step.

https://www.inc.com/linda-naiman/5-brain-hacks-that-will-help-you-think-smarter.html

When I bought my first computer years ago, I hired a tutor to teach me how to use it, but before she had finished giving me instructions my fingers were all over the keyboard pushing buttons. “What do these do?” I wanted to know. She was a little horrified because I could have frozen my computer, but she told me I was a natural-born hacker. I laughed and was glad to know that. Hackers are naturally curious and resourceful. We like to find expedient ways to solve problems; kind of like design. I asked Neil Pavitt, author of Brainhack: Tips and Tricks to Reach Your Brain’s Full Potential, (an incredibly useful book which he asked me to comment on before it went to press) for some effective hacks you might not know about. Happily he obliged: write by hand, don’t try to have good ideas, just say it, plan a pre-mortem, and turn performance anxiety into performance energy. Writing by hand forces your brain to think and capture only the essential information vs typing. To have a truly good idea, you should be willing to put all your ideas on paper, and out of those ideas, you can find one good idea. Even verbalizing a problem will help engage your brain into solving a problem vs. thanking about it. When you create a plan, imagine the worst-case scenarios and this will engage your mind to creatively solve each problem that could arise. At work you want focused performance energy, but you don’t want the stress that comes with performance anxiety. The trouble is, your adrenal gland can’t tell the difference between you needing the energy at work, to you worrying about it at night. Stress is just performance energy that’s outstayed its welcome. So to make your performance energy work for you, start by spending less time thinking and more time planning and doing. If you’ve got a speech or presentation to make, don’t spend time imagining how it’s going to go, write down what you’re going to say and practice it. These simple techniques are for the express purpose of exercising your brain, and increase the performance not just at work but in life.

If you are interested in creating a budget, then contact me for a financial checkup in the contact me section. Also, learn more about the self-lending principle in the mustard seed section.

This week, I’ve included One of the Most Motivational Videos You’ll Ever See [WARNING!!! – Belief Changer] from the VideoAdvice YouTube channel.

“If you think you know it all, you’re a fool for sure; real survivors learn wisdom from others.”

Proverbs 28:26 MSG

 

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September 23, 2017

Items in italics are direct quotes from the articles below

http://www.marketwatch.com/story/the-youtube-channels-for-investors-to-watch-now-2017-09-20

Investors today have more information at their fingertips than ever before. Real-time stock apps, trader blogs, 24-7 streaming business news, fintweets, Reddit communities — there are countless ways to get your due diligence on. It’s high time we add YouTube to that list — the Alphabet-owned GOOG, -0.42% GOOGL, -0.45%  video streaming platform has a deep bench of traders, experts and would-be Warren Buffetts (or perhaps would-be Jim Cramers) proffering advice. For every season of investing, there is a YouTube channel. Youngsters looking to understand the basics can find intro courses. Those who’ve caught the trading bug and want to turn pro will find countless gurus to guide the way (though many will be looking to turn free viewership into a paid subscription). For the chartists, there is plenty of chart porn, and for veterans, channels that delve into the nitty-gritty, from how to trade off specific news events to the optimal number of screens you need, to when to hold a trade over a weekend. As with most things on the internet, it can be difficult to wade through the millions of offerings to identify which ones are truly worth your time. This article is filled with numerous channels and I suggest reading the pros and cons of each channel. Here are the channels recommended by the author: L2inc, Khan Academy, Bulls on Wall Street, Fous4Trading, PrestonPysh, Sasha Evdakov, Timothy Sykes, Warrior Trading, Market Gauge, Forex News by DailyFx, Martin Shkreli, SMB Capital, Meir Barak, shadowtrader01, Tasty trade with Tom Sosnoff and team, Anne Marie Baiynd, Financial Education Channel, Peter Schiff, and Brian Shannon. What I like about this article is that the author recommends the most frequently watched episode, provides a summary of the channel, shows how many subscribers the channel has, the frequency of posts, and the type of investor the channel is for. No matter what asset class you’re passionate about, take the time to learn more about it. Never stop learning. Living in the Information Age, you have access to too much information. It takes wisdom and experience to discern the information that will be useful to you. I also recommend finding a mentor and like-minded individuals who are committed to the same vision as you. Two is far better than one.

http://www.businessinsider.com/entrepreneurship-doesnt-have-to-be-all-or-nothing-2017-9

If you ask many entrepreneurs, striking out on your own is all-consuming. It’s living on ramen. It’s having six roommates in two bedrooms. It’s getting down to your last $10 before catching a break. But that’s not exactly necessary, says Patrick McGinnis. On an episode of Farnoosh Torabi’s podcast “So Money,” McGinnis, a venture capitalist and investor, says this vision of entrepreneurship excludes a lot of people — and it’s not necessary. The idea that “unless you are living on the side of the road on the box, eating ramen for every meal and suffering, you’re not an entrepreneur,” he told Torabi, is a “very dated way of thinking about entrepreneurship.” McGinnis explains that you don’t have to quit your day job to be an entrepreneur. He invests 10% of his time and resources into a new venture while still holding his full-time job. McGinnis himself still holds a day job. “I have invested in over 20 different ventures over the last six years,” he told Torabi. “I have a day job, I’m not looking to leave that day job, but I’ve used entrepreneurial activities investing, advising in startups in order to create a diversified portfolio of ownership positions and exciting companies that teach me new things to get me upside.” Before you invest yourself fully into your business full time, ask yourself these questions. Can you afford the benefits that your employer would normally provide? What will you do to take care of your retirement? I highly encourage anyone to invest in passive income generating assets, however I would never encourage anyone to quit their job to start a business that they hadn’t at least been operating on their spare or part time. Personally, my wife operates a spare time business while she works full-time. I remember telling my mother-in-law about her business and she assumed that we were going full time in this venture to which I immediately clarified and said absolutely not. If over time the income generated is greater than the profession then possibly. But currently my wife loves her job, so why take away something she loves and is being paid for, when there isn’t a guarantee that she can thrive. Life is about thriving and not just surviving. In the end know your numbers, and be a 10% investor.

I’ve added two new pages involving self-improvement and technical analysis. Feel free to visit them.

If you are interested in creating a budget, then contact me for a financial checkup in the contact me section. Also, learn more about the self-lending principle in the mustard seed section.

This week, I’ve included How The Economic Machine Works by Ray Dalio from the Bridgewater YouTube channel.

“If you think you know it all, you’re a fool for sure; real survivors learn wisdom from others.”

Proverbs 28:26 MSG

 

 

 

September 16, 2017

Items in italics are direct quotes from the articles below

http://www.businessinsider.com/former-citi-ceo-30-of-banking-jobs-will-be-wiped-out-in-5-years-2017-9

Vikram Pandit, former CEO of Citigroup, says 30% of banking jobs could disappear within the next five years.  In an interview on Bloomberg Television, the 60-year-old Indian-American said threats from artificial intelligence and robots will “change the back office.”  “I see a banking world going from large financial institutions to one that’s a little bit more decentralized,” he told Bloomberg’s Haslinda Amin. Last year, Citigroup predicted 30% of job losses over a decade vs Pandit’s prediction of five years. A key component of this change is artificial intelligence taking away the back-office processes that are being handled by employees. As these processes become more and more automated, the employees that are willing to continue education, and train others that may have the opportunity to keep their jobs. Because we live in the Information Age, it’s important to have the skill of wisdom to be able to discern the useful information from just information. Many other former and current finance executives have voiced similar concerns about jobs being made redundant thanks to artificial intelligence. Last month, Axel Lehmann, COO of Swiss bank UBS, said AI would “fundamentally change the banking business.”  “I don’t want to get blindsided. It’s less the technology, as such, providing a transformative element in the banking industry,” he said in an interview with Business Insider. “It’s really alternative business models that has the potential to shake up everything and eat into our cake. In my opinion, the emerging blockchain technology will completely change the Banking industry. From my experience, banks are looking to constantly increase efficiency. One way is through having a smaller workforce handling multiple processes, and the other is through automation. For an interesting perspective, I recommend Bank Revolution – https://youtu.be/I4eVuxQXXBs

https://www.inc.com/will-yakowicz/secret-weapon-amys-kitchen-secret-to-500-million-success.html

In 1987, just five months after Rachel and Andy Berliner launched their small frozen organic food business out of their Petaluma, California ranch, they had to dismiss their entire staff–all five of them. The Berliners started Amy’s Kitchen with one product–a vegetable potpie, which Rachel would bake in their kitchen. After initial excitement, order volume petered. “We didn’t realize how seasonal the frozen food business was back then, and once summer hit, the orders stopped coming,” Andy said over the phone from the family ranch. Fortunately, the company could hire everyone back once the orders began to come back in. It was during this time that Andy began an association with Don Watts. At this point, Andy realized that his finances especially his bookkeeping was out of order. I can’t stress enough the importance of knowing your numbers. “You don’t need a little help, you need a lot of help,” Andy recalls Watts saying. Andy says many different employees were writing checks, and the company was not keeping good track of its payments and expenses. “Don laughed when we told him how we paid our bills,” says Andy. “But when he joined us full-time, he said he would help us become a $100 million company. Of course, we’d grow much bigger.” When Watts joined the company as its CFO it was under the condition that the company remained private. It was through his guidance that the company would get its first line of credit for $20,000. Only five months later, the company’s revenues would grow to $240,000, and the company would then increase that line to $100,000. “At every stage, he preached how we shouldn’t build up too much inventory and taught us how to study your margins and expand profits. He taught us how to not build up overhead and operate lean,” says Andy. “He helped us stay grounded and helped us transition from making potpies in our kitchen to making 14,000 a day.” Amy’s Kitchen pioneered the market for organic vegetarian frozen meals and today brings in an annual revenue of $500 million. Rachel and Andy’s intention was to not get rich, but to pass on a business to their children and possibly their children’s children. The most valuable advice, Andy says, was how Watts told them to never, ever sell. “Watts would remind us: ‘The day you decide to sell or go public is the day I walk out the door,’ Andy remembers, adding that although Watts is no longer alive, Amy’s still heeds the CFO’s advice and is committed to staying private. The important lessons from this article is to make sure if you have a business that is driven by accounts receivable and inventory is to keep your inventory manageable, and ensure you are monitoring your margins. Margins such as gross profit margin, cost of goods sold, and operating expenses. How quickly can you get you paid from your  customers? Does it take 30, 60, 90, or 120 days? How can you operate leaner? Why is it important to keep your company private? In the end, what is driving you when you create a business? What is your legacy?

If you are interested in creating a budget, then contact me for a financial checkup in the contact me section. Also, learn more about the self-lending principle in the mustard seed section.

This week, I’ve included THE WARRIOR MINDSET – MOTIVATIONAL VIDEOS – BEST MOTIVATION FOR 2017 from the Video Advice YouTube channel.

“If you think you know it all, you’re a fool for sure; real survivors learn wisdom from others.”

Proverbs 28:26 MSG

September 9, 2017

Items in italics are direct quotes from the articles below

http://www.businessinsider.com/concept-flow-help-get-in-zone-work-brad-stulberg-2017-9

Performance expert and coauthor of  “Peak Performance: Elevate your Game, Avoid Burnout and Thrive with the New Science of Success,” Brad Stulberg explains how the psychological concept of “flow” can help you get in the zone at work. Following is a transcript of the video.

“Flow” is a term introduced in the early ’90s by a psychologist named Mihaly Csikszentmihalyi. And the easiest way to describe “flow” is it’s being in the zone. So, it’s when you are completely present with what you’re doing, and it’s like the outside world disappears. So, your perception of time might change, your perception of space might change, you’re just completely latched on to what you’re doing. It’s a wonderful feeling. Although there’s no recipe for entering a “flow” state, there are a few things that can help elicit this beautiful feeling of being in the zone. First and foremost is to try to pursue activities that are ever so slightly outside of your comfort level. So, I like to think of it as if you have a skill set, and then a challenge. And you want the challenge to just be ever so slightly above the skill.

Let’s say that you have very high skill. Well, if the challenge is low, you might be bored or apathetic. If you have low skill, but the challenge is high, you’re going to be overwhelmed, maybe anxious, you won’t be able to do it. But if you have a high amount of skill for something, and the challenge is really high, that is a really important criteria for being able to get into the zone.

I think a second foundational element is just trying to be fully present and focused with what you’re doing. And, that helps if the challenge and the skills are both high because you almost have no choice but to be present.

So, to recap, it’s activities that put you ever so slightly outside of your comfort zone, but that you’re still quite skilled for, and a type of full focus and presence where you really bring your all to that activity. If you’ve ever played any type of sport, the flow or zone can be described as a slowing down of the things around you. Some believe that in these moments, the brain is processing information and reacting at such a faster rate that it seems like everything is slower. In my opinion this natural state can be obtained through mindfulness and meditation. The importance of achieving this state is to increase your productivity and efficiency in work and life.

https://www.bloomberg.com/amp/news/articles/2017-08-15/the-mysterious-case-of-the-missing-internet-billionaire

A dozen years ago, the largest internet company in China wasn’t Alibaba or Tencent, but game developer Shanda Interactive Entertainment Ltd. Its founder was a young man named Chen Tianqiao, who had become a billionaire at 30. Chen was more prominent than Alibaba’s Jack Ma for much of the last decade — then he disappeared. He left China, dropping out of public view almost completely. He took his Nasdaq-listed company private in 2012. Chen is finally ready to talk publicly again. Now 44, he’s living in Singapore with plans for his next act. During a visit to his office there, he explained what led him to give up his life’s work and cede the market to Alibaba Group Holding Ltd. and Tencent Holdings Ltd., whose founders are now the country’s two richest men. It started with panic attacks in his 30s, then escalated amid the rising stress of competition and government regulations. He eventually decided he had to salvage his own health. His mental struggles and Buddhist beliefs lead him down a new path, which was research on the human brain. He set aside $1 billion to start the Tianqiao and Chrissy Chen Institute for Neuroscience. The concept for the school is unusual to say the least: It will bring together academics in everything from neuroscience, biology and psychiatry to philosophy and divinity studies, and encourage them to work together. Chen thinks it’s time to focus on improving humans’ emotional well-being after centuries of effort to increase living standards. “This will be a university whose mission is to try to answer who we are and where we come from,” he said. “For thousands of years, we improved our happiness through changing the physical world. We now have to solve this problem by exploring inward.” Chen was born in 1973, and started Shanda in 1999 not long after meeting his wife Chrissy while working at a securities firm. Chen and his wife made their own way through creating an online gaming company. His company saw success over the years at the consequence of his health via panic attacks. A devout Buddhist who studied ways to transcend suffering, Chen decided to change course for good: The family relocated to Singapore in 2010 and began to withdraw from the business. In 2011, they offered to take Shanda Interactive private for $2.3 billion. They later sold off their stock in Shanda Games and Chen resigned from its board.  For three years, Chen and Chrissy considered what their next step would be, which ultimately lead to the brain. The couple sees enormous business opportunities in understanding the brain, especially in the areas of researching debilitating diseases such as Alzheimer’s. His Singapore based investment firm has invested in 100 advanced technology ventures throughout the world. Chen sees virtual reality as the best form of technology to connect with neuroscience. He has used his assets to make investments well beyond the cerebral. He is the largest shareholder in peer-to-peer giant LendingClub Corp. and in the rural U.S. hospital chain Community Health Systems Inc. He also holds chunky stakes in Legg Mason Inc. and KKR & Co. He’s even bought up more than 700,000 acres of timberland in the U.S. and Canada. Chen’s influence in China endures. Several of his lieutenants have gone on to become stars in their own right, including Daniel Zhang, who was Shanda’s former chief finance officer and is now Alibaba’s chief executive officer. Even though he is no longer the person he was, Chen accepts his current reality with little regrets and seeks to move forward to a new future. Growing up in a Buddhist home, I learned many of the principles of Buddhism and in some ways, I look at life through a middle way lens without attachment. In my mind, it’s important to continue to move forward to make a lasting difference for the future and eternity. If a billionaire can make a conscious choice to change direction in his life, then I believe anyone can change the course of his or her life.

If you are interested in creating a budget, then contact me for a financial checkup in the contact me section. Also, learn more about the self-lending principle in the mustard seed section.

This week, I’ve included The most motivational video Ever! 2018 will not be the same after watching this from the Video Advice YouTube channel.

“If you think you know it all, you’re a fool for sure; real survivors learn wisdom from others.”

Proverbs 28:26 MSG

September 2, 2017

Items in italics are direct quotes from the articles below

https://www.inc.com/peter-kozodoy/the-1-mental-exercise-you-must-do-to-achieve-your-.html

There’s a funny truth in the business world: hard work does not equate to success. If you’ve believed in this supposed connection for any length of time, you may find it unbelievable that there is in fact no direct cause-and-effect relationship between those two things. So, if you can’t draw a straight line between working hard and achieving your goals, then what else is there? To help answer this conundrum, I turned to my consulting coach, J.V. Crum III — an author, keynote speaker, and serial entrepreneur who made his millions by the ripe old age of 25. Now, he shows other business coaches and consultants how to go from six to seven figures and beyond in their businesses, and teaches high net worth business founders how to move from making a tiny ripple to making a tidal wave of impact with both their passions and their profits. When I asked him about how to systematically set goals and rapidly achieve them, he told me the one reason why most people never come close to achieving their biggest goals. He pointed to his head, and said, “anything you achieve in life, you have to achieve it in here, first.” In his book, Conscious Millionaire: Grow Your Business by Making a Difference, he goes in-depth on what he calls “Conscious Millionaire Visualization,” which is a high-level form of goal visualization. It not only empowers you past the point of most visualization approaches, but it also gives you permission to live at your highest potential. Visualization is powerful technique in the sports realm, but Crum argues it’s essential to achieving your financial goals. It’s important to put yourself into the mental state of success vs. simply wanting to be in that state. Those that are successful already feel like they’ve achieved it. Your mindset, as I’ve personally learned, is everything. What I’ve also learned is that the power of visualization does not come through voodoo or magical energy (though I’m willing to be debated on either). Instead, I have found that visualization works, in part, because we tend to make different micro-decisions based on our state of mind. In other words, we make tiny, seemingly insignificant variations in our daily habits that, over time, add up to wildly divergent outcomes. The author suggests that you close your eyes and envision achieving everything you’ve ever wanted and more. Can you imagine what this moment would be like, and while in this state, can you see yourself taking these steps, and when you open your eyes make a conscious decision to stay in that state.  Our words have power. What you think and say to yourself can create a reality in your mind. Constantly push your limits whether its financially, physically or mentally. Be the greatest version of you there is to make a difference in the world around you.

 

http://www.businessinsider.com/how-stop-feeling-exhausted-work-every-day-2017-8

Brad Stulberg, coauthor of “Peak Performance: Elevate your Game, Avoid Burnout and Thrive with the New Science of Success” shares how you can stop feeling exhausted after work every day. Following is a transcript of the video. Sleep is just so important so I’d start there, that to me is the lowest-hanging fruit. If you’re not getting between seven to nine hours of sleep, I’d really make that a priority.  Second to sleep, I think that particularly if the work that you do involves your mind, not your body, exercise is a wonderful tool. It allows you to get in touch with a more physical sense of yourself, which I think, in it of itself, is very powerful but there is also lots of research that shows that exercise helps with a lot of the things that are driving people crazy about work. So things like anxiety, things like willpower, those can all be boosted by regular exercise. Another thing that is very interesting to me is this notion of “social ties” and what I call “social recovery”. So just hanging out with a group of people that you enjoy spending time with, not necessarily talking about work and things that are stressing you out, that defeats the purpose, but hanging out, having a good time has actually been shown to change our biochemistry and give us those same hormones that again promote growth and promote recovery. Honoring the principle of rest in any form will allow your body to not just heal but to perform at a high level. If you imagine your body like a rubber band, the more you stretch it, the more elastic it will become. New limits will be put in place, but remember to rest, and surround yourself with others who can strengthen you too. Don’t do life alone, because we’re better together.

If you are interested in creating a budget, then contact me for a financial checkup in the contact me section. Also, learn more about the self-lending principle in the mustard seed section.

This week, I’ve included THE HERO IN YOU – BEST Motivational video for Success 2017 from the Mulligan Brothers YouTube channel.

“If you think you know it all, you’re a fool for sure; real survivors learn wisdom from others.”

Proverbs 28:26 MSG