If you are thinking of starting a business or have been reading about investing, you are sure to have come across the name, Warren Buffett. He is an American business magnate and investor who has made a massive mark in the investment world.
When someone makes it big, their words become words to live by. Warren Buffett’s quotes are no different. Here are a few quotes that are worth following for any start-up. Take these words as advice, and all put together it makes great sense and helps you pave the path to success.
“Risk comes from not knowing what you’re doing.”
One thing that discourages a lot of people starting out is the advice that you need to know all the ins and outs of what you are doing. Most of the times, it is simply not possible. That being said, it is important to know the basics and the core of the field you want to make it big in. If it is worth taking the risk, then it is also worth knowing what risks to take.
“In the world of business, the people who are most successful are those who are doing what they love.”
One of the many reasons why people choose to do business is to get a chance to make a living doing what they love. This is not possible for many 9-to-5ers, and some people can’t bear that. You are lucky if you find a job doing what you love, but with a business, you have the choice to get your hands on exactly what gets you excited. Doing what you love is a surefire way to achieve success, not only in business but in life as well.
“The most important investment you can make is in yourself.”
When you start anything new, take a significant amount of time to learn the craft required. Take classes, spend time reading, do everything you can to prepare yourself. You are the greatest asset to your business, so it only makes sense to invest in yourself. You are going to be with the business from the start and throughout, so to get returns you need to invest in yourself. Not only learning what is needed for the success of the business but learning things to make yourself the person needed to achieve that success.
“I don’t look to jump over seven-foot bars; I look around for one-foot bars that I can step over.”
One thing that I often advise people is to stop comparing themselves to people who are already successful. It is more than okay to be inspired by them but following their steps down to the T can often overwhelm you and make you give up. What works for them at their stage is not going to work for you now.
Suppose you sell coffee with whipped cream for $3 and you see Starbucks selling the same thing for $6. Now, you want to be like Starbucks, and your coffee even tastes better, so you start selling yours at $6 as well. Your business starts to fail; you wonder how can it when you have a better product for the same price, offering a similar ambiance, and you are even giving customers special discounts from time to time.
Well, what you fail to see is, you aren’t Starbucks. No matter how similar, you haven’t made your mark in the market yet. Think of it like this, if you have to pay the same price at two places, one is a well-known and well-established international chain, and the other is a new local place, which one will you choose? Instead of making the big leap, start with smaller ones to reach where you want to be.
“You know…you keep doing the same things and you keep getting the same result over and over again.”
Once you have taken the decision, laid down the foundation, learned the basics, and are ready to take the world by storm, you have to be willing to change your methods if they don’t work. Some people become rigid with their plans because they have spent a lot of time and effort bringing them into action, but if it hasn’t worked the five times you applied it, chances are it is never going to work. If you want more, you need to make changes. The same plan that was needed to start will not be helpful when you need to reach the next level. Make changes as your business demands.
“It is not necessary to do extraordinary things to get extraordinary results.”
When it is said that you need to make changes to reach the next level, it doesn’t have to be huge. A little something goes a long way. If you feel like you have been in the same position long enough and it is time to move ahead, then think about what can be easily achieved before thinking about something that might not even be possible at your stage.
Let’s take the example of waking up early. You got a client who is based in a completely different timezone. You decide to work late at night to accommodate him while also doing all the other work you have. Now, this results in you skipping dinner sometimes, working for hours at a stretch with a tired mind, missing your kids going to school in the morning.
This is an extreme step, this gives your mind a false sense of you doing a lot of work and being very productive, but that is not the case. Instead of making a lot of sacrifices, start waking up early, you will get to see your kids, get your work done, rest, and then talk to the said client. Now, you have grown your business without losing your sanity.
“You’ve gotta keep control of your time, and you can’t unless you say no. You can’t let people set your agenda in life.”
Let’s take the above example. If taking on that client means losing a lot of things: sacrificing your health, your personal life, your work quality, then is it really worth it? I understand the desperation to say yes to every opportunity when you are a beginner but take a moment and think about it, even if you want to say yes right away.
You will thank yourself for not rushing into it. Sometimes, the opportunities are too good to be true. You might think that it is going to help right now, but you have to take the bigger picture into account. Learning to say no from time to time is an important skill to master if you want to keep your sanity while aiming for success.
When I started, I said yes to every opportunity that came my way. They were all good opportunities but I could only do so much. I already had my hands full, so I had to learn to say no. With time I have gotten better at it. You cannot overfill your plate because it won’t do justice to either the job or you.
“The best thing I did was to choose the right heroes.”
As your business starts gaining momentum, you will realize that you need help. It is time to hire people. People are your biggest investment after yourself. The people you choose to work with or to work for you can often make or break the situation. It is not only about how much experience a person has but about the attitude that a person carries.
Is the person willing to learn, to grow from their mistakes, to give all in for the job? If you find a person like that, then don’t be afraid to shell out a few thousand more than the industry standards to hire them because that person is going to make you more profit than a couple of thousand you would have saved from hiring someone mediocre.
“It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours, and you’ll drift in that direction.”
People are one of the greatest sources to learn from. While working, do not forget to spend time with humans. Human interaction is something that many people struggle with as they get more comfortable with social media. You have to be careful who you spend your time with. Their outlook on things and life has the power to shape you.
Hang out with people you admire and want to learn from. Hire people who can teach you a thing or two. It is always okay to learn from people who are not at your level yet. Everyone has something to offer, decide if that something is for you or not.
Starting a business can be stressful. The uncertainty of success, the fear of failure, the insane amount of do’s and don’ts can all be too much sometimes. Quotes are a huge source of inspiration, take the quotes and use them to motivate yourself like what I have done here.
8 Public Speaking Techniques That Will Change Everything
Not everyone is born with a natural ability to speak confidently in front of an audience. Many of us had to learn public speaking techniques the same way we learned any other skill. This points discussed further will immensely help someone who is preparing to give a speech or just wants to enhance their public speaking skills. These techniques will help you deliver your speech or presentation in a powerful and flawless way.
Famous people like Warren Buffett and Mahatma Gandhi, early in their lives, suffered from Glossophobia (a fear of public speaking). And look at where they ended up later. If they can overcome their weaknesses, you can too. One statistic shows that about 74 percent of people suffer from speech anxiety. Likewise, 5.3 million Americans suffer from social phobia. Public speaking is the number one fear people have.
Here are some tried and tested techniques that will help you become a better speaker. Try them out today.
1. Tell stories
Storytelling is the number one public speaking technique every leader or professional communicator should possess. It is so powerful that even if you are not good at any other technique mentioned in this post, you will still win the hearts of your audience. Storytelling works better when addressing a group than it does when talking to someone one on one.
When you tell a story, you are simply sharing information without coming off as sales-y. This is the reason why storytelling works. It creates comfort between you and the listener. There are so many people out there who are trying to persuade by being pushy or by using clever lines that they may have learned in a sales course. But guess what? Today’s audience is clever. They are aware of the tricks and techniques people use to dupe them or sell them things they don’t want.
2. Trigger emotions
Emotions generated in our body are a natural response to any external stimuli we receive. We all have emotions, and we can’t live without them. As far as public speaking is concerned, these emotions can be a deciding factor. The kind of emotions you trigger can decide whether the audience reciprocates to your messages or not. If you make people feel good, they will comply with you and vice versa.
In sales situations, it is very important to trigger the right emotions in your audience or the individual you are talking to. I am not asking you to manipulate people. But if you don’t convey the right messages, you won’t make the sale.
Emotions are important in public speaking because most people, irrespective of how smart they are, still make decisions based on how they feel. They may later think logically about it but only after a bit of emotional investment. So, don’t forget to trigger emotions either by telling an emotive story or by feeling the emotion yourself.
3. Attractive body language
Body language is an advanced communication tool used by powerful men and women all over the world. Most politicians use hidden signals or pull off power moves which put them in a dominant position in relation to their opponent. They use body language because it’s not possible to bluntly say everything. It can offend certain people especially if you are in a leadership position and cannot afford to lose your following.
One quick way to have an attractive body language is to have a smile on your face and keep your shoulders squared. This will show that you are a confident person who is not afraid to show his/her real personality. This also disarms your audience as they feel at ease with the idea of you being on the stage and lecturing them. This may seem a bit overwhelming at first, but with practice, you will become more comfortable and free to take the center stage.
4. Practice everyday
It’s easy to read and understand the techniques mentioned in this article, but without practice, you will never be able to implement them in real life. Without practice, your desire to learn public speaking techniques will never come to fruition. So, read further to learn how to practice public speaking.
Professional soccer players don’t just run around or kick the ball without any intent. They have a system which they follow; a system which makes them better each day. Likewise, for you, it’s important to practice public speaking by following tried and tested methods.
One easy way to practice public speaking is by going out to bars or nightclubs and talking to random people. This way you get over your fear of what people think about you and feel free to express yourself without the fear of messing up.
Moreover, if you are afraid to make a mistake in front of your audience, you can record yourself while practicing the same speech in your home. In retrospect, you get priceless feedback. With repetition, you get better as you will make fewer mistakes the next time you practice. You can also join your local Toastmasters Club which I have found to be very helpful in helping you get more confident and better at public speaking.
5. Use a slideshow presentation
The main purpose of a slideshow presentation is to provide your audience with a context of what you are talking about. It should be used as a guideline or a signboard for your listeners and not as a notepad for yourself.
To make the most of your presentation slide, you can make it reader-friendly by using fewer words per bullet point and keeping the font size large enough for everyone to comfortably read. Moreover, you can also add pictures and short videos to your slide if you think they will help convey the message better. So, create a stunning slideshow next time you are about to give a presentation.
6. Hire a vocal coach
If you are one of those people who has a thin voice or has problems speaking from your diaphragm, then the best solution for you would be to hire a vocal coach. There is no point in learning all these public speaking techniques if your voice doesn’t resonate properly. Simply stated, you won’t be able to command respect from your audience if you have a weak voice.
7. Dress impeccably
Your clothes are another measure of creating a powerful stage presence.- So, if you walk up on stage poorly dressed, you will not make a good impression.- Ideally, it should not matter what you wear but that is not how the world of public speaking works. You have to put up a show.
The choice of your clothes should be based on what kind of event you are going to. For a business event, you must wear a suit or well ironed formal clothes. On the other hand, for casual parties, it is completely fine to wear shiny and outrageous clothes. Moreover, the clothes you wear also affect your mood. This is why some men like to wear their favorite shirt before going on a date or an important meeting.
8. Make people laugh
Some people are naturally humorous. They find something funny in everything they observe or experience. Moreover, it is very easy for them to add humor to their speeches when they are talking in front of a crowd. It is important to note that humor cannot be forced or rehearsed. But you can still be funny if you are not a born comedian.
To make people laugh, you first need to find out what makes you laugh. Once you know what situations, lines, events, etc. crack you up, you can use those in your presentations or speeches. It is also important to not take yourself too seriously. Here, self-deprecating humor comes into play. When talking to a group of people, you can make fun of yourself. But don’t go overboard. Or else people will think you lack self-respect.
Storytelling and use of emotive language would be the two most important things for effective public speaking. Listen to the speeches from people like Elon Musk and Steve Jobs. They always share details from their past that generate curiosity in the listeners. people like them because of their ability to express their ideas freely and articulately.
7 Books Every Entrepreneur and Start-Up Founder Must Read
“This post contains few affiliate links. When you purchase from those links, I receive a small commission at no extra cost to you.”
I have always been a huge advocate of learning through reading. To me, nothing will help you learn about something as thoroughly as reading about it. I read a lot of non-fiction books, and I know how good the impact can be. Even when I have no time to read, I read the summaries on Blinkist to get the core takeaways of the book.
The one consistent advise that every successful person out there gives to budding entrepreneurs is to read! Every entrepreneur who has made it in life knows the value of reading and has a set routine they follow which allows them to read. I have talked about the reading habits of highly successful people to motivate people to read more.
I have also written about how you can read more in less time and comprehend more because when you are starting, time is of the essence. Making time to read shouldn’t take away from other tasks, and reading shouldn’t be put on the back burner because you don’t have time. That being said, reading more means nothing if you don’t comprehend what you read. With fiction, it is okay if you forget. But, with non-fiction, the point of reading is to understand, learn and implement
Here are some books that every entrepreneur starting out should take lessons from. It can be scary in the beginning but knowing some things can ease the path for you. These seven books teach you the importance of various qualities you need to have and the lessons you need to learn in order to be successful.
How Great Entrepreneurs Build Their Business and Influence- And How You Can, Too
Crushing It! hit Amazon’s #1 bestseller list even before it was launched. This book is preceded by the book “Crush It: Why Now is the Time to Cash in Your Passion.” Many people get confused about the books because of their similar name.
Released in 2018, Crushing It explains and explores why having a strong personal brand is crucial in business. It offers brand new lessons and strategies. Gary Vaynerchuk uses his and dozens of influencers’ and entrepreneurs’ experience to showcase why having a strong, noticeable presence across multiple channels of digital media can be your blueprint to success. The advice and tactics mentioned in this book can help you become a household name via various social media channels.
If you are starting out and looking to build a brand, this book is a must-read. It will help aspiring entrepreneurs to take their business to the next level. Even if you are not into business and work a day job, it will help you increase your professional opportunities. This helps people understand the game-changing nature of digital and social media.
The Secrets of Being Productive in Life and Business
Smarter Faster Better uses personal stories of Charles Duhigg along with business research to show how being productive isn’t just about managing your to-do list. People can sometimes get stuck in the idea of being productive because they tick off everything on their to-do list, but being productive is more than that.
This book is different than the other productivity-based books out there based on its approach on the subject. It focuses on how you think rather than spending time managing what you think. The book also argues that our focus on getting the big tasks done first is flawed. Charles states how getting smaller and easier tasks done have the potential to create big changes in your life and business.
Being productive includes making the right choices and maintaining the right mindset. This book offers advice on how to stay motivated, keep yourself on track and work in teams effectively to maximize your creativity, productivity and success. Anyone with a serious long-term goal will benefit from this book.
How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses
In this classic book on entrepreneurship, author and entrepreneur Eric Ries explains the lean startup approach. This book helps start-ups and tech companies develop a sustainable business model, which has changed the way that many start-up founders build companies.
It is largely based around the principle of continuous rapid prototyping and focusing on customer-feedback data. Before investing heavily in an idea, Eric suggests ways to validate business ideas. This helps entrepreneurs test their visions and modify and adapt before any real damage can occur. The approach talked about is backed with last few decades worth of case studies and is based on the concepts of lean manufacturing and agile development.
This book provides a new approach to successfully managing a startup. The lean startup also talks through some of the innovative and necessary online business tools that can help you accelerate your path towards validation along the way. Entrepreneurs who are starting their own business or startup can learn a lot from this book, from ideas to quick product development and testing.
Notes On Startups, Or How To Build The Future
Zero to One, written by PayPal founder and Facebook’s first investor, Peter Thiel, encompasses the power of innovation and how to go about creating new things. It also explores how companies can predict the future effectively and take action already to ensure that their start-up/business is a success.
Peter shares his learnings from his own personal experiences in this book. He states that when you do something new, you are moving from zero to one. (Yes, the title!) His takeaway is that the new wave of entrepreneurs will make completely new things and not just updates of existing products. That makes sense because there is so much yet to be innovated. I don’t think the world will ever run out of ideas.
To be successful with your business, innovation is what sets your business apart. Anyone interested to know why certain startups succeed while others fail will find their answer here. Current and potential startup founders need to read this book to incorporate innovation in their business plan so that even the investors know that it is worth investing in.
What the Rich Teach Their Kids About Money- That the Poor and Middle Class Do Not!
If you are even considering reading business books, then there is a huge probability that you have already heard of this book. Rich Dad, Poor Dad, is a book recommended by many. It is one of those books that have become the face of the genre. In fact, this is the book that planted the seed of entrepreneurship in my mind when I read it for the first time in grade 10.
You can say that this book is primarily centered around financial advice and is considered to be the #1 personal finance book out there. It is autobiographical with personal advice from Robert Kiyosaki about how to become financially independent and wealthy. If you read this book at the beginning of your journey, it can have a big impact on your thought process, just like it did on mine
The biggest takeaway from this book is that you should let your money work for you, rather than spending your life working for money. You should avoid placing your money into objects, possessions or anything that’ll cost you and incur more expenses in the long run. Things like flashy cars and big homes are what people dream of when they think about making big bucks. Robert advises against it.
The core message that Robert presents in this book is that if you want to grow rich, then you have to buy things that will help you generate income. Robert states that this is necessary for getting rich and staying rich. He also argues that wealthy people pass on financial lessons to the next generation but others don’t. He retired at the age of 47 successful investment career. So, he knows what he is talking about. If you ever wondered how to approach the path of investment, then this book can be of great help to you.
Negotiating in Difficult Situations
When starting a business, you will realize how important it is to have the skill of negotiation. The better you are at it, the more your business will benefit. Negotiation is not an easy skill to master. It becomes even difficult if the other person is a seasoned professional and also stubborn who keeps saying “no” to everything you bring to him. This is where “Getting past no” comes to your rescue.
William Ury is the co-founder of Harvard Law School’s “Program of Negotiation” and is also considered one of the world’s leading negotiation specialists. The teachings that he has curated in this book comes with various techniques you can use in negotiations. He also teaches how to counter dirty tricks and reach mutually beneficial agreements that satisfy the needs of both parties.
The art of negotiation is something that start-up founders and entrepreneurs need to get a good hold on. This book gives you the opportunity to learn from the best. William also has another book titled “Getting to Yes: Negotiating an Agreement Without Giving In,” which is also a must read to finetune the craft of negotiation.
A Counterintuitive Approach to Living a Good Life
Like “Rich Dad, Poor Dad,” everyone has heard about this book. My guess is that most people picked it up for it’s interesting, to say the least, title, but then stayed for the content. This book revolves around setting realistic expectations for ourselves and embracing our fears and faults.
I would say the core of this book states concentrating on living a better life by caring about fewer things. Mark Manson gives some rules to lead a happier, less stressful existence. Mark’s writing is as free-flowing as the title of this book. In a much relatable manner, he manages to put his point across. His focus is on doing what you want, not what you can.
This is one of those must-reads to prepare yourself before delving into a new journey. To find the courage, honesty, responsibility we seek. This is for people who feel stressed and overburdened in life, people who are working on self-improvement, and people who worry about everything.
“The more that you read, the more things you will know. The more that you learn, the more places you’ll go.”
7 Tips For Entrepreneurs From Tai Lopez That Are Actually Useful
Tai Lopez came into limelight with his TEDx talk (Why I read a book a day). In his speech, he explained how one book has the power to change your entire life. Earlier, he was only known in small entrepreneurship circles in Los Angeles. But with his speech on TEDx, he was able to broadcast his ideas to the mainstream audience.
As of 2019, Tai Lopez’s net worth is $60 million. Some of you might recognize him from a video that he made called “Here in my garage”. He compared his Lamborghini with the 2000 new books he had bought at that time; which he kept in his garage. The same video also went viral on youtube. Internet trolls saw an opportunity to make fun of Tai as he valued books more than his fancy sports car.
Moreover, Tai Lopez is also an advisor and partner to more than 20 multi-million dollar companies. His advice has been creating a massive impact in lives of new entrepreneurs and investors. Some of his ideas are seen as rebellious by some people. For instance, once he said, “Ignore more people and you’ll be a lot happier…”. This might sound antisocial or narcissistic to some people.
In this post, I have compiled a list of 7 tips I picked up from watching Tai Lopez’s videos and reading his recommended books.
Most of us are taught to work hard and hustle to succeed in life. There are a ton of posts on social media to testify this theory. Open any entrepreneurship account on Instagram and you will find plenty of images with quotes describing how hard-work and grinding is the pathway to success. According to Tai, these quotes project a false reality on people who are new to the entrepreneurship and business world.
In his video on YouTube, Tai Lopez constantly talks about how people like Warren Buffett spend hours just observing and thinking about their next investment or the next deal they are about to go through. Does this seem like hard work and hustle to you?
Moreover, Tai Lopez also agrees that there is a time when work can suck the soul out of you. All rich people had to work hard in the initial phases of their entrepreneurial journey. But even for a newbie, it doesn’t hurt to find new and better ways to do their work. Smart work always wins over hard work.
Depression is very common among people who are independent and risk-taking. But, sometimes it can take over your life and affect you in negative ways. To protect yourself from these negative effects of depression, you can definitely take some practical steps like physical therapy, engage in social activities and perform meditation.
However, Tai Lopez has a different take on depression. He says feelings of sadness and depression can help a person get out of useless repetitive patterns and help them think in a more rational manner. Moreover, humans are meant to feel all kinds of emotions. Be it sadness or happiness, all emotions play a vital role in keeping your brain healthy.
In his early days, Tai himself had to go through a tough period. Being raised by a single mom, he had no special privileges like most of us do. In fact, adversity is what motivated him to reach where he is today. So, don’t panic if you feel sad once in a while. Every entrepreneur feels that way.
It’s very common for people to get themselves fully engaged in their work life. Likewise, some people also become workaholics and prioritize work over all other things in life. This a good short term strategy and has worked for many people. But is it beneficial in the long term?
The answer is obviously no. Your mind only remains sharp when you experience new problems and situations. This makes you more creative as you are forced to rack your brains to find better solutions. Also, instead of following fixed rules you become innovative; as each problem is unique and what worked for someone else may not help you.
Tai Lopez, in his 67 Steps Program has discussed the concept of “Evolutionary Stable Strategies”. Understanding these strategies is one of the key steps in the program. Here, Tai talks about how every coin has two sides. He further elaborates how Hawks and Doves coexist together in nature even when one of them is a predator. The population of both these birds should remain equal. There will be a major imbalance if one of these birds outnumber the other.
Tai’s secret of becoming rich is to make money work for you. Even when you are asleep. He has gone great lengths to find and meet people who know how this works and who themselves have done it successfully.
Most people go to work to earn money. They trade their time and efforts in place of money. Not realizing that this itself is making them poorer, unhealthier and dumber. Tai’s advise to put some time aside and learn how to invest. Be it from books or a digital course, learning to invest can be the beginning of your journey to achieving financial freedom.
In addition, he also agrees that you are not going to hit big every time you invest. Sometimes you will even miss out on good opportunities. But a good investor never gives up and continues to his analysis without any regrets.
The environment you work in matters a lot when it comes to productivity. With the availability of basic amenities like an air conditioner, ergonomic chairs, etc along with positive people around you can increase your productivity by twofold. This is what works for most successful people. But, Tai takes a very different approach when it comes to setting up his office or workplace.
In his own office, he has a treadmill desk, some free weights, and a television. In a YouTube video, he showed how his office looks like and most people including were shocked. It didn’t look like the typical corporate office that most people are familiar with. But, one is for sure, it looked a fun place to work and hang out.
Tai Lopez has thousands of books at his house; even his garage is filled with them. Being an avid reader, he has created many videos explaining how books helped him transition from poverty to becoming one of the most popular digital products creator and a successful investor.
He chooses what book to read based on how he is feeling at that time. If he is sad, he picks up a book that he knows will leave him feeling happy and content. Moreover, he calls the morning time the “soap of the brain”. Because that is the time when he clears his mind and prepares for the day ahead. Tai prefers to read a classic book in the morning.
Later on, post lunch, he reads the how-to book. As this is the time when he feels a bit slumberous from the food. And before going to bed, he browses through a biography. It’s not a surprise that reading is a big part of Tai’s life.
Long work hours and a poor diet can make it difficult to create time for exercise. Even you do create space in your tight schedule, you will be more likely tired to workout and then recover in time. Don’t worry. You are not alone. Most entrepreneurs and business owners do not work out regularly. In fact, they don’t care about their physical appearance that much.
But regular physical exercise can also benefit in ways other than just improving your aesthetics. This is something Tai Lopez takes very seriously. He believes if you don’t take care of your body than you will breakdown and give up at some point in your entrepreneurial journey.
Apart from weight lifting, Tai is also well versed with martial arts. He has a personal Brazilian Jiu-Jitsu trainer. Moreover, Tai prefers having a team of people who can help him stay fit. A team consists of nutritionist, physios, general physician and a dietician.
A lot of people doubt Tai Lopez and his legitimacy. But his growing popularity amongst successful people like All-Star Chris Paul from the Los Angeles Clippers and NFL superstar Odell Beckham Jr have left no doubts in my mind.
I hope these 7 tips will help you in your entrepreneurial career and make your road to success bump-free. Of course, there is a lot more to learn. I suggest you also check out his recommended books. I am sure you will find some books useful.
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