Archive for June, 2019

The Mindset That Can Make You Fail in Life.

Do you want to be successful in life? Then, you must understand that having the right mindset is crucial to attaining greatness.

Yes, hard work, effort, and persistence are all important, but not as important as having that underlying belief that you are in control of your destiny.

In her book, Mindset: The New Psychology of Success, Dr. Carol Dweck uncovers the differences between two core mindsets, the fixed mindset and the growth mindset.

Dweck examined the two mindsets and discusses why a fixed mindset leads to an unsuccessful and unfulfilling life.

No one wants a horrible and unfulfilling existence, but that is some people’s reality. They are stuck and unable to achieve success because of their fixed mindset.

Hold on, but what is a fixed mindset? How do you identify and break yourself from its shackles?

I’d share a few tips, but first.

What is a growth mindset?

A growth mindset is a belief that you are in control of your destiny and your ability to learn and improve.

Simple, right. So.

What is a fixed mindset?

A fixed mindset is the opposite; it is the belief that individual traits are innate and cannot be changed or developed.

If you think about that for a second, you’d realize that having either of these mindsets all gets down to one’s belief.

In the growth mindset, one believes that intelligence, creativity, and artistic ability can develop over time with practice, hard work, endurance, and a willingness to learn.

Whereas a fixed mind believes that intelligence, creativity, and other abilities does not, or can not change regardless of opportunities for learning and growth.

Honestly, this way of thinking is terrible for anyone, and you must beware of it.

It is the path of failure that you don’t want to tread.

It leads to trouble with self-esteem and personal development, particularly in the face of mistakes and failures.

People with a fixed belief hold themselves in an unchangeable position, where they have to prove themselves always, and where mistakes or failures are unacceptable.

On the other hand, people with a growth mindset see mistakes and failures as opportunities to learn and improve themselves. They know that is the only way to progress.

So, this is my point: a fixed mindset will make you out of date and unsuccessful. If you are successful by your terms, don’t let it hinder your greatness.

Read the signs, when you see that you are beginning to settle for less, when you begin to stop seeking knowledge.

When you give up, and not set higher goals. When you stop working out your plans, and not learning new ways of doing things.

Beware, it is the fixed mindset.

Instead, live with a growth mindset by pushing away your fears and inadequacies. Embrace the evolution of your abilities, and go with courage that everything is possible if you commit to growth.

 

How to Network for Success.

Here’s the thing about networking: it’s really nothing more than talking to other people.

But, for some reason, many, many people have trouble doing that.

Whether it’s not knowing what to say, or imagining that others don’t want to talk to you, something seems to get in the way of simple communication between two people.

But first…

What is networking?

Networking isn’t merely the exchange of information with others — and it’s certainly not about begging for favors.

It is about establishing and nurturing long-term, mutually beneficial relationships with the people you meet, whether you’re waiting to order your morning coffee, participating in a church program or attending a work conference. 

Although you don’t have to join several professional associations and attend every networking event that comes your way in order to be a successful, but there’s no denying the power a strong professional network can have over your career or business success. 

When it’s rightly done, networking will give you a competitive edge throughout every stage of your career.

How do you Network?

One thing you must understand about networking is that it is an art of self promotion that must be planned and achieved like other goals. 

So how do you network effectively? 

  1. Figure out your networking style.

While you don’t need to know exactly what you expect to get out of each networking opportunity, it’s important to head into each activity with a goal. For example, you may attend an event with the goal of connecting with three new people in your industry or bringing back one new insight to share with your co-workers

2. Draw a game plan.

While you don’t need to know exactly what you expect to get out of each networking opportunity, it’s important to head into each activity with a goal. For example, you may attend an event with the goal of connecting with three new people in your industry or bringing back one new insight to share with your co-workers

3. Follow up.

It’s a simple task, yet many professionals neglect this critical step in the networking process. The time you invested in speaking with someone new won’t benefit your career development if you fail to follow up afterward. While you don’t need to send a long, heartfelt message immediately after meeting someone new, you should send a LinkedIn connection request with a personalized message sooner rather than later. Save the thoughtful message when you have something valuable to share or a specific reason to reach out.

These few basic rules will help you succeed at networking. But remember, the goal of networking is to build relationships and networks.

As Baikowitz once said “the worst networking mistake you can make is not trying at all.”

6 Habits of Successful Investors

The thought of becoming a successful investor is frightening if you think of the seemingly daunting tasks you have to handle. But it doesn’t have to be so because success doesn’t have one standard. In fact, successful investing is more about achieving your personal money goals and not necessarily picking the “right” investment.

If you want to become a successful investor, these are six habits that will put you on the right path to financial success.

  1. Start Early.

There’s a famous Chinese proverb that says: “The best time to plant a tree was 20 years ago. The second best time is now.”

If you haven’t started, the best time to start investing is now, even if you don’t have a lot of money. The earlier you start, the longer your money works on your behalf. The idea here is to get into the habit and start developing a mindset that sees investing as a priority.

2. Create a plan.

A goal without a plan is just a wish. So if you want to become a successful investor, you need to create an investment blueprint that can help you chart your financial course. Start by figuring out how you want things to end up, and then work backwards. Think deeply and organize the investments and asset allocations that are likely to help you reach your goals. An investment plan is important because it acts as a roadmap.

3. Diversification.

Successful investors know that putting all their eggs in one basket isn’t so good that’s why they diversify. “For many “regular” people and beginning investors, low-cost index funds and exchange-traded funds can make a lot of sense. They’re broad-based and provide instant diversity across sectors. Additionally, if you add bond funds, you can get asset allocation. As you learn more and become more knowledgeable, you can add other investments from other asset classes, consider geographic diversity, and other factors, based on what you want to accomplish with your money.”

However, I advise that you invest a lot in real estate because it is the most reliable investment.

4. Consistency

Consistent action creates consistent results. To be successful in life, one must be consistent, and the same is applicable in investing. One of the best ways to move forward is to be consistent. Outline the amount you can invest each month and set up automatic transfers to your investment account. This will prevent you from forgetting, or from letting other spending take priority.

Consistency can ensure that you keep your long-term financial goals in mind – and automated investing will help you work toward those goals without actively thinking about it every day.

 

5. Increasing your investment funds.

Whenever you get a raise, use a part of that money to increase your monthly investment contribution. Get yourself in the habit of seeing extra money as a way to advance towards your financial goals by putting at least a portion of any increase you receive toward investing.

When you’ve made investing a priority, it’s easier to make that call when you get new money. That’s why you need to make a successful mindset shift toward using investing as a way to reach your goals.

 

6. Consulting professionals

We live in the age of information overload and overnight gurus who are selling nothing but crap on the internet. Don’t fall for it.

“Getting help from financial professionals can be a great idea, especially if you find someone who can help you reach your goals and is willing to listen to you and help you put together a long-term strategy. In fact, it’s a good idea to visit with a financial professional than get stock tips from your co-workers. The wealthy often hire money managers and investment advisors. While you might not be to that point right now, getting a little guidance from a financial professional can provide you with outside perspective – and a better approach to your investment portfolio.”

Here are habits of successful investors.

  • Start early or as soon as possible.
  • Create a plan.
  • Diversify your portfolio.
  • Be consistent.
  • Increase your Investment funds
  • Consult professionals.