Connect with us

Entrepreneurs

5 Lessons You Can Learn From A Millionaire Trader

Published

on

Some of what you might read in this article could seem simplistic, that’s because success is simplistic if you let it be. This time you are going to see success from a different lens through an interview I did with the very Successful Millionaire Trader Andy Man who owns a business called Serman Traders and is the author of “How I Turned $1,600 into $1.7M In The Financial Markets”. Whether it’s trading or another business, the success principles are the same, but it’s crucial to have lots of different references from a variety of entrepreneur’s.

In 2006, Andy graduated as a civil engineer, and he knew nothing about the stock markets or trading. Once Andy got a job, he realised he wasn’t able to live the life he wanted even if he became a manager in the company. He started looking for alternative ways to make money and took a course in trading with his now business partner, Mike Ser. In 2011, Andy turned $1600 USD into $1.7M by trading silver using everything he had learnt. It was always Andy’s goal to become a millionaire by the age of thirty.

 

***The AHA! MOMENT Of The Interview***

The most shocking part of the interview was when I asked Andy how old he was. He started by thinking about it and then he couldn’t work it out. He just said I think I am over thirty. Andy is not a guy that remembers how old he is all the time like a lot of society, and he doesn’t even celebrate his birthday. By not focusing on his birthday, Andy says it allows him to focus his time on things that are more valuable. He says you must always think positive and whether your old or young there are benefits on both sides.

Your attitude towards success is something that Andy says will make a big difference in your entrepreneur life. If you don’t want to move, you will stay still for the next ten years. If you are motivated to achieve your goal then at least you have some hope to move forward. This doesn’t mean all the time that if you are motivated you will definitely achieve your goal, it takes a lot of hard work as well. Notice how the ultra successful like Andy always have a positive mindset? This is something that I have seen in every interview I have done on Addicted2Success.

Below are five Lessons Andy shared with me in the interview that you can apply to your life as an entrepreneur.

 

1. The psychology of trading can teach you a lot about entrepreneurship

In the beginning, Andy didn’t achieve financial freedom and he would lose money then make money over and over again. He says once you learn from your mistakes you get better everyday.

In the first year of trading, he lost money. The second to fourth year Andy worked on fixing up his bad trades. The mistake he was making was that he was able to turn $5000 very quickly into $100k, but then he would be too greedy on the profit side and would lose half of it. You need to secure your profit and try and ride the right trend and in 2011, with this strategy, Andy was able to turn the corner and start making some serious money.

No one is perfect and different people have different flaws. Try to identify yours and fix them, and then you can be successful. Once you know how to make money in the market, all you need to do is start to look back on your bad trades and fix those up, and then you will have more success. Andy knew to short (bet the price would go down) silver because it had happened before, and scenarios often repeat themselves in financial markets. The market for gold and silver goes up every US summer from June to August and has done so 9 out of 9 times in the last nine years. Andy puts stop losses in so he can know how much he would lose if he were wrong. Lose small and win big. You need to have a good risk management strategy otherwise you will do the reverse, lose big and win small – another lesson that applies to entrepreneurs.

The first year in trading is the toughest because you lose money more than you win, but you can never give up. Only 10% of people succeed with trading, and Andy keeps telling himself he will be part of this 10% – keep telling yourself you can do it. The hard part is staying disciplined. Being in the minority and staying disciplined will be traits you need to be an entrepreneur.

After making the $1.7 million Andy diversified his portfolio and allocated a large portion to real estate investing to get a passive income. Trading is not a stable income and Andy can’t see a big opportunity every single day so during the quiet times the real estate and Serman Traders income help provide the foundation for stability. Once the foundations are solid, this allows Andy to take calculated risks in his entrepreneurial endeavours and this is an important lesson.

 

2. The power of constantly learning

Driving a car is very similar to trading and being an entrepreneur, Andy says. At first he started with 1-10 leverage when he made his first million, now he is off his learner plates and uses 1-100. Just make money first and then when you get some consistency, then you can add more leverage. Trading is one of the ways to financial freedom if you take the time to understand it. A kid can do very well in trading because they follow the rules, but the older the person is, the more stubborn they are, and the less likely they are to be able to follow rules.

Part of Andy’s course involves making a daily video, which his students must watch to see what Andy is noticing in the market and where the opportunity is so that they can mirror it. The three things that people do wrong when they watch Andy’s video are they do nothing, miss the opportunity and chase the market, or they are too aggressive. If you follow the rules, then you will make money but most people can’t overcome the psychological limits that you need to have to be a good trader. There is nothing better than seeing mentors trade close to a live environment and being able to learn their strategies in the real world.

Being an entrepreneur is not about following the rules (quite the opposite) but you have to learn not to be stubborn and take the time to understand your business.

 

3. Plan your day for success

A day in Andy’s life involves waking up at 6am to catch the markets and trade for around two hours as well as catching up on the market news. In the afternoon, he trains his students all around the world and then late in the day he will host some live seminars in his office at night at around 4-5pm. At 7pm, he spends time with family and then between 10-11pm he will start to do the daily videos. The day then finishes between 11pm-1am where Andy does a final two hours of trading the Gold / Silver market.

The key is to be able to focus on what you’re doing, Andy says. You have to know your schedule well and plan ahead, so you know what to do. Andy always plans his trades ahead of time before the markets open. A lot of people don’t have a plan, and they plan to fail. You will get very emotional during trading if you don’t have a plan. A plan helps keep you calm and on course.

To avoid distractions like social media Andy delegates these tasks and has learnt to say no to interruptions and distractions. When delivering training Andy has his full focus with the student and doesn’t let his phone or anything distract him because he is trying to deliver the maximum value he can. Outside of trading Andy is married with a young daughter and he says allowing your loved ones to know your schedule well avoids unnecessary distractions and means that if they’re calling you it must be urgent – keep your phone on silent so you can focus.

Have a notebook next to you at all times to record your thoughts. It’s always good to write things down along with a weekly to-do list – try to work smarter rather than harder. Think before you do, if you do and think at the same time you will be very inefficient and be doing things that are unnecessary. Also, don’t forget to always leave some buffer time between appointments and build in breaks into your schedule even if you don’t plan on using them, just in case.

Plan for a busy day now and then, and know what your worse day looks like. Once you know your absolute worse day, plan how you are going to manage it and build in the meals, so you don’t starve and have no energy. Andy knows that every Tuesday is going to be a crazy day, so he knows how to deal with it.

Running your day as a trader is very similar to running you day as an entrepreneur, just focus focus focus and make sure you enjoy life at the same time!

Playing golf on a boat

4. Always be on a journey to mastering personal growth

We have different goals and priorities in life and natural strengths and weaknesses, which are determined by our personality type. The key is once you know your weakness you must not continually repeat the same mistake. If you do this, you will be very likely to go into a natural loop of failure. As an entrepreneur, you probably won’t notice the mistakes you make because they are too minor. When you talk about money though, a lot of people get more sensitive. It sounds easy to overcome your mistakes, but it takes time due to the psychological aspect. A good entrepreneur recognises their weakness and learns from their mistake – it’s that simple.

Andy found himself to be up and down as an entrepreneur until one day he sat down and looked at what mistakes he was making with the mindset of finding a solution. There’s only two ways to do anything, avoid making a mistake or try and figure out a solution. Once you have your solution, you need to write it down on paper so next time you see the same situation, you don’t make the same mistake again. This realisation was the key turning point for Andy to become successful and start making a profit from his trading.

To grow you need to keep yourself inspired. It’s always good to hear other people’s stories and experiences so that you can draw inspiration from them. Talking and engaging with them will deepen the learning even further. Try to broaden these moments of inspiration from different areas, and one’s that you may have nothing to do with like marine biology. Outside of variety don’t limit yourself to the same class of people either. Spend time with poorer people, middle-class people and rich people. Each of these classes will teach you different laws of success.

Between the ages of twenty to thirty most people stop learning new things. To grow you will need to be open to learning something new all the time and remember you don’t have all the answers to anything – no one does. Finding inspiration can also be found in attending meetups, talking to your friends and teaching students. Andy’s students often reveal to him things about life and networks that he has not yet tapped into.

For Andy to continue his own journey of personal growth, in 2011 after he made millions, he went on a missionary trip to China and started helping out handicap children. While staying in very poor surroundings on this trip he began to see that he is the one that is really fortunate and this motivated him to spend time helping other people. When you help other people you see the happiness even more, and you know that your wealth has helped create this. The lesson here is that even if you have nothing you can be very happy as well. If you find yourself being very aggressive towards making millions then attempt a trip like Andy did, and you will come back feeling more humble and not be so obsessed with money.

The lesson here is that even if you have nothing you can be very happy as well. If you find yourself being very aggressive towards making millions then attempt a trip like Andy did, and you will come back feeling more humble and not be so obsessed with money.

“Happiness is always a choice. You can’t wait for circumstances to change you have to create your own fortune and look for ways to be happy each day”

 

5. Switch your mindset from employee to entrepreneur

When Andy used to be an engineer he got paid to work but the responsibility was nowhere near as much as what it’s been since becoming an entrepreneur. As an entrepreneur, you get paid for results not for showing up. Some of the work you do you may not get paid for. For example when you develop a product as an engineer you get paid through the process where as when you do the same thing as an entrepreneur you don’t, and it’s a very different mindset to get used to. During the times as an entrepreneur when you’re not getting paid, you must be able to tap into your optimism otherwise you won’t be able to get through this stage.

There is no ceiling on your income as an entrepreneur at any one time whereas working a job can be more restrictive, and there are annual limits to your earning capacity. As a trader, you can make as many millions of dollars as you like but Andy reckons he had to learn to not be too greedy. He used to have nothing but when he had something his mindset changed, and he wanted to preserve it and use it as a platform to build off of.

The way Andy explained this phenomenon to me was that before you become an entrepreneur you are all about capital gains, but once you become an entrepreneur you start thinking about how to maintain and increase a positive cashflow.

Andy Man From Serman Traders

Andy Man From Serman Traders

If you would like to enrol in Andy’s trading courses then visit the Serman Traders website where you can sign up for the priority list and receive a free copy of Andys eBook “How I Turned $1,600 into $1.7M In The Financial Markets”

Tim is best known as a long-time contributor on Addicted2Success. Tim's content has been shared hundreds of thousands of times and he has written multiple viral posts all around success, personal development, motivation, and entrepreneurship. During the day Tim works with the most iconic tech companies in the world, as an adviser, to assist them in expanding into Australia. By night, Tim coaches his students on the principles of personal development and the fundamentals of entrepreneurship. You can connect with Tim through his website www.timdenning.net or through his Facebook.

Continue Reading
Advertisement
2 Comments

2 Comments

  1. Tim Denning

    May 19, 2015 at 7:41 pm

    Agreed Lawrence and the fact that Andy didn’t have any experience at trading Gold/Silver shows that you can make money in anything if you put your mind to it.

  2. Lawrence Berry

    May 18, 2015 at 10:36 pm

    These are some great tips from Andy. His ability to learn from his failures, combined with the determination to focus and master his craft was the defining thing in his success. With so many distractions in the world today with all the social media an technology, it really makes it hard to focus on a single task for so long. We have become a very distracted and impatient society, but we must move away from what the masses do in order to be extraordinary.

Leave a Reply

Your email address will not be published. Required fields are marked *

Entrepreneurs

5 Powerful Confessions From Entrepreneurs Who Never Went to College

Published

on

entrepreneurs that didn't go to college

How important is college education for most of us? Can an entrepreneur become successful without a college diploma? Let’s see what secrets remarkable entrepreneurs may reveal to us about the way they survived without college.

Looking back at the experience we gather from the most powerful and famous business people, there’s more often a plus rather than a minus in becoming successful without a college degree.

1. Abraham Lincoln

“All I have learned,I learned from books.” – Abraham Lincoln

One of the 8 U.S. presidents who started as entrepreneurs and the only one who received a patent, Abraham Lincoln never went to college. In fact, he was not the only U.S. president who didn’t do it. 7 more presidents didn’t attend college as well.

One of the most striking confessions is that he valued books more than anything else that can educate. Proving that books were his teachers, Abraham Lincoln also acknowledged that his best friend would be a person who could give him a book he hadn’t read before.

No wonder, every entrepreneur with self-respect should read books. Abraham Lincoln proved that self-education is, actually, what makes us more powerful than we are. The 16th president of the United States invented a tool to lift riverboats over sandbars without a diploma as an evidence of his smartness.

2. Walt Disney

“All the adversity I’ve had in my life, all my troubles and obstacles, have strengthened me… You may not realize it when it happens, but a kick in the teeth may be the best thing in the world for you.” –  Walt Disney

The father of Mickey Mouse, the first animated feature film in the world, and Disneyland founder, Walt Disney considered books as a treasure as well. However, because of his inattentiveness and constant drawing, Disney dropped out of high school.

Thus, his stronger motivator was failure. Working on Snow White, one of his most successful projects, Walt lost nearly everything, ran out of money, and almost went down the drain. But that was one of the lessons that helped him become the king of cartoons.

3. Richard Branson

“The best way of learning about anything is by doing.” – Richard Branson

A risk-taker with over a $4 billion fortune and the founder of the Virgin Group, Richard Branson left school at the age of 16 to start his first business – Student magazine. Despite the fact, that he faced dyslexia during his school years, he managed to take a chance in his hands and do what he wanted.

Although, Richard says he has no secrets to hide, he still confesses that he works hard, smart and does it with fun. The power of doing is a secret ingredient to success, according to Branson.

4. Milton Hershey

“My experience has shown me that the people who are exceptionally good in business aren’t so because of what they know, but because of their insatiable need to know more.” – Milton S. Hershey

The founder of the Hershey Chocolate Corporation and a philanthropist, Milton Hershey changed 6 schools, because his family moved very often and, eventually, he left school after the 4th grade to become an apprentice to a printer. Later, he found his passion in candy making.

His idea about business success is not in knowledge, but in the desire to know. Motivation and curiosity can lead you to the unknown realms and open them with ease, if you are ready to experience changes. The only question is to what extend your need is insatiable.

5. Coco Chanel

“Success is most often achieved by those who don’t know that failure is inevitable.” – Coco Chanel

Being taught sewing by nuns, Gabrielle “Coco” Chanel, the only fashion designer to have been put on the 100 most influential people of the 20th century Time magazine’s list, never went to college. Her daring ambitions gave her strength to become one of the most successful designers in the world.

According to her words, the secret of success isn’t in knowing. Quite the opposite – it’s in unawareness. Virtually, it’s unknowing of the fact that failure is a must-be in business. And here’s when fear comes next after you think of a possible fiasco. Without knowing, there’s no fear. Consequently, you’re not afraid to stumble and fall, because you do not know it’s initially programmed.

What unites all these outstanding entrepreneurs? Except for the absence of a college degree? It’s the ability to acknowledge what actually ruled their success. And that’s not college education. Educators, professors and teachers who strive to make college education more proactive and productive can never substitute the inner power of a budding entrepreneur.

Have you met any entrepreneurs who never needed a college degree to become what they are now? Share your experience in the comments.
Continue Reading

Entrepreneurs

How to Lead a Virtual Team: 6 Essential Tips You Need to Know

Published

on

virtual team

The rules have changed. You don’t need an office. You don’t need investors. You DO NOT need permission!

Today, anyone with a good idea (and an addiction for success) can start their own business. Within a matter of months you can build a six-figure business. It takes dedication and commitment, as you already know, but another vital ingredient many forget about in the beginning (I know I did) is to involve others.

You cannot do ‘this’ on your own. You need a team, but once again the rules have changed. You don’t need an office. You don’t need local people you ‘see’ each day.  There’s a new kid in town.

Introducing Your Virtual Team:

Virtual assistants… freelancers… location independent workers… there’s an entire generation who don’t wish to play by yesterday’s rules. The likes of Buffer and Infinitus have built seven-figure companies with no headquaters. Big name entrepreneurs like Michael Hyatt are building teams with no boundaries. The opportunities for a go-getting success seeker like you are vast.

But, building your virtual team is dangerous. There are many pitfalls to building a virtual team. Lucky for you and me there are MANY people to learn from. People who have been there and done it, and who offer advice so you don’t have to make the same mistakes they have. I’ve asked a selection of experts who know all about the right and wrong way to build a successful virtual team. This is what they say:

1. Chris Ducker: Create your 3 lists to freedom

“To save yourself time and money, create a list of: things you hate doing everyday, things you can’t do yourself, and things you shouldn’t be doing. This creates a blueprint of what your virtual team should work on, and allows you to effectively manage it.”

As founder of ‘Virtual Staff Finder’, Chris Ducker has helped entrepreneurs lead a balanced lifestyle for many years. What his ‘3 lists to freedom’ offers is your starting point, because it forces you to consider all the tasks you do (and could do), and hone in on what you should do. From there you can ensure your virtual team grows in a way that will save you time and make you money.

2. Erlend Bakke: Insist on a daily update

“My best tip is the daily update. This is what I ask them to send me: enter date and hours worked in total. What they did today. Two challenges encountered. Three questions they have for me. I have my three CEOs send me this update on a daily basis. It has saved me many hours over the past six years.”

This tip from the founder Mr Outsource, Erlend Bakke, is gold. You build a team to save yourself time, so the last thing you want is to chase updates, or have your team inundate you with questions. Instead, insist they update you each day with these key details. This allows you to stay in the loop, make necessary changes, and to do so without wasting your precious time.

“Talent wins games, but teamwork and intelligence win championships.” – Michael Jordan

3. Erin Blaskie: Create a solid backup plan

Create solid back up plans for if the worst case scenario were to happen. I had grown my own company to over 70 clients, and leaned on a few sub-contractors to help fill in the gaps. While this was great for clients to have that one-stop shop, it left me in a precarious situation when my lead web designer disappeared suddenly.”

As one of the early pioneers of virtual assistants, Erin Blaskie has seen the highs and lows of building a virtual team. A key component is to think how you can scale your operations at all times, and not rely on one (or a few) single person.

4. Kimanzi Constable: You shouldn’t let anyone have complete access to every part of your business

“Make sure you understand what you’ll give your virtual assistant access to and what you should give them access to. You shouldn’t let anyone have complete access to every part of your business.”

As a lifestyle entrepreneur and globetrotting consultant, Kimanzi Constable has built an ever-growing virtual team over the last few years. But he raises a good point, because you need to consider who has access to what in your business; and why. Failure here can have grand consequence, as Kimanzi found when one of his VA’s did the dirty.

5. Natalie Sisson: Share your business vision with your VA

Share your business vision with your VA, as it gets them on board with the bigger picture of why they do what they do. It also gives them ownership over their role, as they know what we’re trying to achieve as a team.”

After over a decade of travelling the world, Natalie Sisson built her Suitcase Entrepreneur community with the help of a virtual team. As she says, it’s important to help your team appreciate WHY they do what they do. Your aim isn’t to build a team, it’s to create a culture.

“Teamwork is the ability to work together toward a common vision. The ability to direct individual accomplishments toward organizational objectives. It is the fuel that allows common people to attain uncommon results.” – Andrew Carnegie

6. Ari Meisel: Make the experience as rich as possible

Embrace asynchronous communication such as slack, and video messaging with Fika. Make the experience as rich as possible for people who are not in the same room as you.”

As an outsourcing advocate for many years, Ari Meisel built Get Leverage to provide his clients the virtual assistance they need. He appreciates the importance of communication, especially when you’re communicating with people in different rooms, countries, and continents.

There are an array of tools to communicate face-to-face these days, so don’t only speak to your virtual team over email. Involve them. Speak with them. Create an experience that leaves them feeling valued and part of a “real” team (not a virtual one).

The possibilities are endless for today’s success-seeking entrepreneur. A virtual team provides you the freedom you desire and the opportunity to grow. But there’s a right and wrong way to build one. After reading this post, I hope you understand how the best-of-the-best build theirs.

What are some of the ways you have built a great team for your business? Let us know by commenting below!

Image courtesy of Twenty20.com

Continue Reading

Entrepreneurs

5 Mistakes New Entrepreneurs Make During Their First Year

Published

on

new entrepreneur

Would you consider selling 500+ million books a success? Of course you would, and it takes a rather creative and smart individual to achieve it.

JK Rowling is one of the most successful and celebrated authors of all time, but before her Harry Potter series grew into a global phenomenon, 12 publishers rejected her. Even the world’s most successful people fail. They make mistakes and suffer setbacks.

Such adversity never ends, not even when you reach the top. But it’s during your early stages when you suffer the most, because you only know what you know.  However, what if I told you there was a way to avoid many of the mistakes most people make. What if there was a way to avoid all that heartache, so you can fast-track yourself to the front of the line.  There is, and it isn’t as hard as you might imagine.

The smartest thing any new entrepreneur can do is to learn from other people. Why make your own mistakes when you can learn from other peoples’? Why suffer, when they have already created a solution to turn such failure into success?

This is what I did when I interviewed 160+ successful people for my latest book, ‘The Successful Mistake’. I dove into their biggest mistakes so you don’t have to make them.

Stop trying to do everything on your own. Nobody built an empire on their own. You need to involve others, and you need to build a team. Erin Blaskie tried to do it all by herself when she first created her virtual assistant business.

She found success. She had happy clients who loved her work. Yet it soon became too much, and the once high-standard that set her apart began to slip. Those clients jumped ship, and it left Erin exhausted. You cannot do this on your own. You need help. Don’t fight this, embrace it.

How To Fix This:

Think about all the tasks you do during an average week, and choose ONE to outsource. Over the next few days, find a VA who can do this work for you. Hire them next week. Start the process and never look back.

It’s easy to say yes. Saying yes feels good. On the outside, yes is a good word, because yes means more work and money. But the truth is, yes brings nothing but danger.

When Greg Hickman first started his business, him and his co-founder said yes to everyone. After all, their mobile marketing agency could potentially help any business, so they said yes to a restaurant… a bar… a barber… a golf course… and anyone else they could get a meeting with. Yes felt good, but ‘yes’ built zero traction. They tried to help too many people, and in the end helped nobody.

How To Fix This:

If you don’t have a customer avatar, you need to create one. This ‘single’ person is who you serve. Say yes to them, but no to everyone else (no matter how tempting it is).

Mistakes happen. Sometimes they are your fault. Sometimes they are not. No matter, there’s little point in playing the blame game. Brian Foley did when he first created BuddyTruk, and it remains one of his biggest ever regrets.

Despite a lot of investment, time, and effort, the first iteration of their innovative app fell short in every area. Brian and his cofounders were angry at the developers. They expected better, and they blamed them for this failure. But as they dove a little deeper, they realised there was more to the story. This failure arose, not down to incompetence, but due to poor communication.  Blame didn’t come up with a solution, but facing the issue head-on did.

How To Fix This:

The next time something bad happens, don’t blame anyone (especially yourself). Accept the mistake. Seek lessons from it. Communicate with your team. And then move on.

Fear is a part of life. Everyone has it, and no amount of money or fame removes it. But those at the top never let fear do their talking. Whereas those at the beginning of their journey often do. Debbie Millman did when she graduated college. She had dreams and ambitions, but she feared she wasn’t good enough; that the sensible option would be to get a job, climb the ladder, and do what ‘most’ people do.

She built a great CV and career, but Debbie continues to look back and wonder what she could have created if she pushed her fear to one side.

How To Fix This:

Do something that scares you today. Like Noah Kagan does, go to a coffee shop and ask for a 20% discount. The more you face your fear, the easier it is to overcome it.

 

Continue Reading

Entrepreneurs

5 Unique Ways Entrepreneurs Are Approaching Work in 2017

Published

on

entrepreneurship

Today’s entrepreneurs know that if they want to attract the best talent, they must offer the best work culture. It only makes sense. We’re moving out of the industrial economy and into a more knowledge-based economy.

Additionally, according to Fast Company, the freelance economy is on the rise. This opens the door for workers who come in for some projects but not others. And it paves the way for new technologies to be embraced in the workplace. That being the case, entrepreneurs need to design a job environment that better fits with these and other trends.

The following five trends highlight some of the ways entrepreneurs are bringing a unique approach to the workplace:

1. Remote Teams

According to Help Scout, remote teams offer their employers some pretty significant advantages. Remote workers are typically more engaged in the work process AND they log more work hours than their traditional counterparts.

How is this possible? Firstly, these teams have learned to communicate with one another better. This skill set actually developed because these workers couldn’t talk to their co-worker directly. Instead, they had to learn to communicate clearly via media like email, Skype and Slack.

They also don’t get interrupted as much due to the asynchronous nature of their work. Basically, this means that when these workers log on to work, they work, and they work together.

It also seems that working together his another benefit: These team members actually feel a greater bond with one another than more traditional workers do. This may arise from shared work projects and shared values.

2. Work Retreats

Work retreats feel like a working vacation, and in many ways, offer your workforce the benefits of a vacation.

However, an article on the Entrepreneur website points out that work retreats can be so much more. These work-away-from-work vacations encourage entrepreneurs and their employees to look at work problems differently.

Much of this mental shift has to do with the change in work environment. Company bosses headquartered in big cities like New York or Chicago may want to ask their workers to take a weekend in the country. Additionally, many people, entrepreneurs included, view thinking time as downtime. However, truth be told, many people need some downtime: This allows new ideas to take form.

Often ideas can’t come forth while employees face general work responsibilities. (This also explains why people get so many good ideas in the shower: They’re relaxed enough to let things come together.) Finally, employees with different skills and talents get the opportunity to come together in one place and to brainstorm. This often leads to breakthroughs that wouldn’t happen any other way.

“That perfect tranquillity of life, which is nowhere to be found but in retreat, a faithful friend and a good library.” – Aphra Behn

3. Unlimited Time Off

Doesn’t unlimited time off just sound awesome? Of course, it does. This is one of the hottest and most unique workplace trends of 2017.

While it’s easy to believe that employees with unlimited time off (or unlimited vacation days) will never come to work, most of these programs have some parameters. Usually, the employee in question must get all of his/ her work done before taking the time off. He/ she must also check in with the boss about it.

That said, these programs offer employees and employers some excellent benefits. For one thing, employees aren’t left with vacation days they don’t use. On the flip side, employers aren’t paying for unused vacation days. And vacation gives employees and employers the time they need to recharge their mental and physical batteries.

As discussed, taking time away actually improves creativity and problem-solving abilities. Relaxed employees are productive employees in the end.

4. Hacking Health

Entrepreneurs concentrating on employee wellness and growth will have an advantage over the business owners who don’t.

In addition to offering programs like yoga and gym memberships, some entrepreneurs are taking things a step further. They’re embracing practices like fasting, office saunas, and nootropics to help employees live better and boost brain power at the same time.

While it may seem a bit… odd – to forego food in favor of brain supplements, the effects are beginning to pay off for company’s like Nootrobox. CEO Geoff Woo told Business Insider that, “[he and his employees often fast for] 36 hours.”

Fasting has a slew of health benefits, having been used for thousands of years to improve health and spiritual connection. Research suggests that fasting slows aging, increases the amount of Human Growth Hormone in the body, and reduces insulin sensitivity.

Coupled with the latest nootropics like Modafinil, and various nootropic blends (called “stacks”), Nootrobox employees are supercharging their daily productivity.

Workplaces that embrace these kinds of wellness program can reduce absenteeism as well as help to attract new talent. It also helps bolster employees’ health, which reduces the need for doctors’ visits. This lowers insurance premiums.

“Health is the greatest gift, contentment the greatest wealth, faithfulness the best relationship.” – Buddha

5. More Gig Economy Workers

Entrepreneurs and employees both can benefit from the rise of the gig economy. The gig economy is a term that describes how companies are shifting from hiring employees to hiring contractors. The workplace in 2017 (and beyond) will be a mix of these two types of workers, according to Forbes, a full 93% of companies embrace this change.

And why not?  It’s good for both entrepreneurs – especially ones running startups – and employees. For the entrepreneur, it means only hiring workers when he/ she needs them.

This prevents employers from having to keep an employee on the payroll he/ she can’t afford. It also allows the entrepreneur to grow as a company because this business owner doesn’t have to do without services that he/ she needs.

The workplace in 2017 is going to change drastically. The savviest entrepreneurs keep up with these trends by embracing them. If you’re trying to revitalize your workforce, think about implementing one or more of these programs. You may just find that your bottom line improves and your company culture becomes happier and more productive to boot.

Have you ever managed anyone? If so, what programs or opportunities did you present in order for them to want to work with you? Let us know by commenting your thoughts below!

Image courtesy of Twenty20.com

Continue Reading
Advertisement
Write for A2S

Facebook

Advertisement

Trending

Life

I Want To Be Happy – Only With You

Published

on

I only want to be happy with you.

I want you to find love and not be single for the rest of your life because you’ve told me how much you want to settle down and have a family one-day. I know how much you enjoy the company of an intelligent partner who knows how to have a proper conversation. I want to be that partner.

I want you to have time to talk before breakfast and enjoy a healthy meal with me, so you have loads of energy to live your day with passion. I want you to have time to tell me about your workday and what inspired you. I want to hear about how you’ve empowered others to chase their dreams.

I want you to tell me about how you went for drinks after work and had way too many red wines. To tell me the smallest detail about your day knowing that I will still be fascinated because of how much I care about you.

I want to smile when I get a message from you knowing that you inserted the maximum amount of emoji’s and that I will do my best to compete and add in more with my own reply. I’ll try my best to add in even more crazy emoji’s so that you have to think very carefully about what I am trying to say and what each emoji means. Our emoji game can be like a never-ending puzzle that we spend the rest of our lives trying to solve.

I want us to travel all around the world and experience new cultures together. I want us to go to places that scare the hell out of us and defy the ridiculous terrorism warnings that stop people going to beautiful cities like Paris.

“I don’t want us to live in fear; I want us to live with passion”

As part of that travel dream, I want to whisk you away when you least expect it and take you somewhere that will help you remember me forever, even after I’m gone. I want you to have one special place where you can remember me for a single moment and know that I will always be with you. I want that place to make us both smile when we think of it. I want to make these crazy dreams with you.

I want you to feel like you can do whatever you want and there is nothing holding you back. I want you to feel as free as a bird flying over the sea without a care in the world. I want you to know that I will always move obstacles out of your way so you can feel that sense of freedom.

I want to stay home from work when you have the flu and make you yummy soup, even if it means I get sick with you, and we both have to stay home. I want to take you to the doctor’s office when you’re unwell and conquer any medical issue with you. I want us always to believe in hope if the worst happens.

I want to be there for you no matter what.

When our parents are eventually gone one day, I want us both to never forget them. To never forget the dreams they had for our lives and the difference they made. While they may not have got everything always right, they did their best. We’ve both had struggles with a difficult sibling, but that’s not their fault. For their sake, we will do our best to have a relationship with our siblings even if it’s hard. The result of that struggle is the one thing that would make both of our parents proud and we owe them that at the very least.

I may be still single right now, but one day I will find you and we will live happily ever after. That’s a promise to you and to my future self.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

Tim is best known as a long-time contributor on Addicted2Success. Tim's content has been shared hundreds of thousands of times and he has written multiple viral posts all around success, personal development, motivation, and entrepreneurship. During the day Tim works with the most iconic tech companies in the world, as an adviser, to assist them in expanding into Australia. By night, Tim coaches his students on the principles of personal development and the fundamentals of entrepreneurship. You can connect with Tim through his website www.timdenning.net or through his Facebook.

Continue Reading
Advertisement
2 Comments

2 Comments

  1. Tim Denning

    May 19, 2015 at 7:41 pm

    Agreed Lawrence and the fact that Andy didn’t have any experience at trading Gold/Silver shows that you can make money in anything if you put your mind to it.

  2. Lawrence Berry

    May 18, 2015 at 10:36 pm

    These are some great tips from Andy. His ability to learn from his failures, combined with the determination to focus and master his craft was the defining thing in his success. With so many distractions in the world today with all the social media an technology, it really makes it hard to focus on a single task for so long. We have become a very distracted and impatient society, but we must move away from what the masses do in order to be extraordinary.

Leave a Reply

Your email address will not be published. Required fields are marked *

Entrepreneurs

5 Powerful Confessions From Entrepreneurs Who Never Went to College

Published

on

entrepreneurs that didn't go to college

How important is college education for most of us? Can an entrepreneur become successful without a college diploma? Let’s see what secrets remarkable entrepreneurs may reveal to us about the way they survived without college.

Looking back at the experience we gather from the most powerful and famous business people, there’s more often a plus rather than a minus in becoming successful without a college degree.

1. Abraham Lincoln

“All I have learned,I learned from books.” – Abraham Lincoln

One of the 8 U.S. presidents who started as entrepreneurs and the only one who received a patent, Abraham Lincoln never went to college. In fact, he was not the only U.S. president who didn’t do it. 7 more presidents didn’t attend college as well.

One of the most striking confessions is that he valued books more than anything else that can educate. Proving that books were his teachers, Abraham Lincoln also acknowledged that his best friend would be a person who could give him a book he hadn’t read before.

No wonder, every entrepreneur with self-respect should read books. Abraham Lincoln proved that self-education is, actually, what makes us more powerful than we are. The 16th president of the United States invented a tool to lift riverboats over sandbars without a diploma as an evidence of his smartness.

2. Walt Disney

“All the adversity I’ve had in my life, all my troubles and obstacles, have strengthened me… You may not realize it when it happens, but a kick in the teeth may be the best thing in the world for you.” –  Walt Disney

The father of Mickey Mouse, the first animated feature film in the world, and Disneyland founder, Walt Disney considered books as a treasure as well. However, because of his inattentiveness and constant drawing, Disney dropped out of high school.

Thus, his stronger motivator was failure. Working on Snow White, one of his most successful projects, Walt lost nearly everything, ran out of money, and almost went down the drain. But that was one of the lessons that helped him become the king of cartoons.

3. Richard Branson

“The best way of learning about anything is by doing.” – Richard Branson

A risk-taker with over a $4 billion fortune and the founder of the Virgin Group, Richard Branson left school at the age of 16 to start his first business – Student magazine. Despite the fact, that he faced dyslexia during his school years, he managed to take a chance in his hands and do what he wanted.

Although, Richard says he has no secrets to hide, he still confesses that he works hard, smart and does it with fun. The power of doing is a secret ingredient to success, according to Branson.

4. Milton Hershey

“My experience has shown me that the people who are exceptionally good in business aren’t so because of what they know, but because of their insatiable need to know more.” – Milton S. Hershey

The founder of the Hershey Chocolate Corporation and a philanthropist, Milton Hershey changed 6 schools, because his family moved very often and, eventually, he left school after the 4th grade to become an apprentice to a printer. Later, he found his passion in candy making.

His idea about business success is not in knowledge, but in the desire to know. Motivation and curiosity can lead you to the unknown realms and open them with ease, if you are ready to experience changes. The only question is to what extend your need is insatiable.

5. Coco Chanel

“Success is most often achieved by those who don’t know that failure is inevitable.” – Coco Chanel

Being taught sewing by nuns, Gabrielle “Coco” Chanel, the only fashion designer to have been put on the 100 most influential people of the 20th century Time magazine’s list, never went to college. Her daring ambitions gave her strength to become one of the most successful designers in the world.

According to her words, the secret of success isn’t in knowing. Quite the opposite – it’s in unawareness. Virtually, it’s unknowing of the fact that failure is a must-be in business. And here’s when fear comes next after you think of a possible fiasco. Without knowing, there’s no fear. Consequently, you’re not afraid to stumble and fall, because you do not know it’s initially programmed.

What unites all these outstanding entrepreneurs? Except for the absence of a college degree? It’s the ability to acknowledge what actually ruled their success. And that’s not college education. Educators, professors and teachers who strive to make college education more proactive and productive can never substitute the inner power of a budding entrepreneur.

Have you met any entrepreneurs who never needed a college degree to become what they are now? Share your experience in the comments.
Continue Reading

Entrepreneurs

How to Lead a Virtual Team: 6 Essential Tips You Need to Know

Published

on

virtual team

The rules have changed. You don’t need an office. You don’t need investors. You DO NOT need permission!

Today, anyone with a good idea (and an addiction for success) can start their own business. Within a matter of months you can build a six-figure business. It takes dedication and commitment, as you already know, but another vital ingredient many forget about in the beginning (I know I did) is to involve others.

You cannot do ‘this’ on your own. You need a team, but once again the rules have changed. You don’t need an office. You don’t need local people you ‘see’ each day.  There’s a new kid in town.

Introducing Your Virtual Team:

Virtual assistants… freelancers… location independent workers… there’s an entire generation who don’t wish to play by yesterday’s rules. The likes of Buffer and Infinitus have built seven-figure companies with no headquaters. Big name entrepreneurs like Michael Hyatt are building teams with no boundaries. The opportunities for a go-getting success seeker like you are vast.

But, building your virtual team is dangerous. There are many pitfalls to building a virtual team. Lucky for you and me there are MANY people to learn from. People who have been there and done it, and who offer advice so you don’t have to make the same mistakes they have. I’ve asked a selection of experts who know all about the right and wrong way to build a successful virtual team. This is what they say:

1. Chris Ducker: Create your 3 lists to freedom

“To save yourself time and money, create a list of: things you hate doing everyday, things you can’t do yourself, and things you shouldn’t be doing. This creates a blueprint of what your virtual team should work on, and allows you to effectively manage it.”

As founder of ‘Virtual Staff Finder’, Chris Ducker has helped entrepreneurs lead a balanced lifestyle for many years. What his ‘3 lists to freedom’ offers is your starting point, because it forces you to consider all the tasks you do (and could do), and hone in on what you should do. From there you can ensure your virtual team grows in a way that will save you time and make you money.

2. Erlend Bakke: Insist on a daily update

“My best tip is the daily update. This is what I ask them to send me: enter date and hours worked in total. What they did today. Two challenges encountered. Three questions they have for me. I have my three CEOs send me this update on a daily basis. It has saved me many hours over the past six years.”

This tip from the founder Mr Outsource, Erlend Bakke, is gold. You build a team to save yourself time, so the last thing you want is to chase updates, or have your team inundate you with questions. Instead, insist they update you each day with these key details. This allows you to stay in the loop, make necessary changes, and to do so without wasting your precious time.

“Talent wins games, but teamwork and intelligence win championships.” – Michael Jordan

3. Erin Blaskie: Create a solid backup plan

Create solid back up plans for if the worst case scenario were to happen. I had grown my own company to over 70 clients, and leaned on a few sub-contractors to help fill in the gaps. While this was great for clients to have that one-stop shop, it left me in a precarious situation when my lead web designer disappeared suddenly.”

As one of the early pioneers of virtual assistants, Erin Blaskie has seen the highs and lows of building a virtual team. A key component is to think how you can scale your operations at all times, and not rely on one (or a few) single person.

4. Kimanzi Constable: You shouldn’t let anyone have complete access to every part of your business

“Make sure you understand what you’ll give your virtual assistant access to and what you should give them access to. You shouldn’t let anyone have complete access to every part of your business.”

As a lifestyle entrepreneur and globetrotting consultant, Kimanzi Constable has built an ever-growing virtual team over the last few years. But he raises a good point, because you need to consider who has access to what in your business; and why. Failure here can have grand consequence, as Kimanzi found when one of his VA’s did the dirty.

5. Natalie Sisson: Share your business vision with your VA

Share your business vision with your VA, as it gets them on board with the bigger picture of why they do what they do. It also gives them ownership over their role, as they know what we’re trying to achieve as a team.”

After over a decade of travelling the world, Natalie Sisson built her Suitcase Entrepreneur community with the help of a virtual team. As she says, it’s important to help your team appreciate WHY they do what they do. Your aim isn’t to build a team, it’s to create a culture.

“Teamwork is the ability to work together toward a common vision. The ability to direct individual accomplishments toward organizational objectives. It is the fuel that allows common people to attain uncommon results.” – Andrew Carnegie

6. Ari Meisel: Make the experience as rich as possible

Embrace asynchronous communication such as slack, and video messaging with Fika. Make the experience as rich as possible for people who are not in the same room as you.”

As an outsourcing advocate for many years, Ari Meisel built Get Leverage to provide his clients the virtual assistance they need. He appreciates the importance of communication, especially when you’re communicating with people in different rooms, countries, and continents.

There are an array of tools to communicate face-to-face these days, so don’t only speak to your virtual team over email. Involve them. Speak with them. Create an experience that leaves them feeling valued and part of a “real” team (not a virtual one).

The possibilities are endless for today’s success-seeking entrepreneur. A virtual team provides you the freedom you desire and the opportunity to grow. But there’s a right and wrong way to build one. After reading this post, I hope you understand how the best-of-the-best build theirs.

What are some of the ways you have built a great team for your business? Let us know by commenting below!

Image courtesy of Twenty20.com

Continue Reading

Entrepreneurs

5 Mistakes New Entrepreneurs Make During Their First Year

Published

on

new entrepreneur

Would you consider selling 500+ million books a success? Of course you would, and it takes a rather creative and smart individual to achieve it.

JK Rowling is one of the most successful and celebrated authors of all time, but before her Harry Potter series grew into a global phenomenon, 12 publishers rejected her. Even the world’s most successful people fail. They make mistakes and suffer setbacks.

Such adversity never ends, not even when you reach the top. But it’s during your early stages when you suffer the most, because you only know what you know.  However, what if I told you there was a way to avoid many of the mistakes most people make. What if there was a way to avoid all that heartache, so you can fast-track yourself to the front of the line.  There is, and it isn’t as hard as you might imagine.

The smartest thing any new entrepreneur can do is to learn from other people. Why make your own mistakes when you can learn from other peoples’? Why suffer, when they have already created a solution to turn such failure into success?

This is what I did when I interviewed 160+ successful people for my latest book, ‘The Successful Mistake’. I dove into their biggest mistakes so you don’t have to make them.

Stop trying to do everything on your own. Nobody built an empire on their own. You need to involve others, and you need to build a team. Erin Blaskie tried to do it all by herself when she first created her virtual assistant business.

She found success. She had happy clients who loved her work. Yet it soon became too much, and the once high-standard that set her apart began to slip. Those clients jumped ship, and it left Erin exhausted. You cannot do this on your own. You need help. Don’t fight this, embrace it.

How To Fix This:

Think about all the tasks you do during an average week, and choose ONE to outsource. Over the next few days, find a VA who can do this work for you. Hire them next week. Start the process and never look back.

It’s easy to say yes. Saying yes feels good. On the outside, yes is a good word, because yes means more work and money. But the truth is, yes brings nothing but danger.

When Greg Hickman first started his business, him and his co-founder said yes to everyone. After all, their mobile marketing agency could potentially help any business, so they said yes to a restaurant… a bar… a barber… a golf course… and anyone else they could get a meeting with. Yes felt good, but ‘yes’ built zero traction. They tried to help too many people, and in the end helped nobody.

How To Fix This:

If you don’t have a customer avatar, you need to create one. This ‘single’ person is who you serve. Say yes to them, but no to everyone else (no matter how tempting it is).

Mistakes happen. Sometimes they are your fault. Sometimes they are not. No matter, there’s little point in playing the blame game. Brian Foley did when he first created BuddyTruk, and it remains one of his biggest ever regrets.

Despite a lot of investment, time, and effort, the first iteration of their innovative app fell short in every area. Brian and his cofounders were angry at the developers. They expected better, and they blamed them for this failure. But as they dove a little deeper, they realised there was more to the story. This failure arose, not down to incompetence, but due to poor communication.  Blame didn’t come up with a solution, but facing the issue head-on did.

How To Fix This:

The next time something bad happens, don’t blame anyone (especially yourself). Accept the mistake. Seek lessons from it. Communicate with your team. And then move on.

Fear is a part of life. Everyone has it, and no amount of money or fame removes it. But those at the top never let fear do their talking. Whereas those at the beginning of their journey often do. Debbie Millman did when she graduated college. She had dreams and ambitions, but she feared she wasn’t good enough; that the sensible option would be to get a job, climb the ladder, and do what ‘most’ people do.

She built a great CV and career, but Debbie continues to look back and wonder what she could have created if she pushed her fear to one side.

How To Fix This:

Do something that scares you today. Like Noah Kagan does, go to a coffee shop and ask for a 20% discount. The more you face your fear, the easier it is to overcome it.

 

Continue Reading

Entrepreneurs

5 Unique Ways Entrepreneurs Are Approaching Work in 2017

Published

on

entrepreneurship

Today’s entrepreneurs know that if they want to attract the best talent, they must offer the best work culture. It only makes sense. We’re moving out of the industrial economy and into a more knowledge-based economy.

Additionally, according to Fast Company, the freelance economy is on the rise. This opens the door for workers who come in for some projects but not others. And it paves the way for new technologies to be embraced in the workplace. That being the case, entrepreneurs need to design a job environment that better fits with these and other trends.

The following five trends highlight some of the ways entrepreneurs are bringing a unique approach to the workplace:

1. Remote Teams

According to Help Scout, remote teams offer their employers some pretty significant advantages. Remote workers are typically more engaged in the work process AND they log more work hours than their traditional counterparts.

How is this possible? Firstly, these teams have learned to communicate with one another better. This skill set actually developed because these workers couldn’t talk to their co-worker directly. Instead, they had to learn to communicate clearly via media like email, Skype and Slack.

They also don’t get interrupted as much due to the asynchronous nature of their work. Basically, this means that when these workers log on to work, they work, and they work together.

It also seems that working together his another benefit: These team members actually feel a greater bond with one another than more traditional workers do. This may arise from shared work projects and shared values.

2. Work Retreats

Work retreats feel like a working vacation, and in many ways, offer your workforce the benefits of a vacation.

However, an article on the Entrepreneur website points out that work retreats can be so much more. These work-away-from-work vacations encourage entrepreneurs and their employees to look at work problems differently.

Much of this mental shift has to do with the change in work environment. Company bosses headquartered in big cities like New York or Chicago may want to ask their workers to take a weekend in the country. Additionally, many people, entrepreneurs included, view thinking time as downtime. However, truth be told, many people need some downtime: This allows new ideas to take form.

Often ideas can’t come forth while employees face general work responsibilities. (This also explains why people get so many good ideas in the shower: They’re relaxed enough to let things come together.) Finally, employees with different skills and talents get the opportunity to come together in one place and to brainstorm. This often leads to breakthroughs that wouldn’t happen any other way.

“That perfect tranquillity of life, which is nowhere to be found but in retreat, a faithful friend and a good library.” – Aphra Behn

3. Unlimited Time Off

Doesn’t unlimited time off just sound awesome? Of course, it does. This is one of the hottest and most unique workplace trends of 2017.

While it’s easy to believe that employees with unlimited time off (or unlimited vacation days) will never come to work, most of these programs have some parameters. Usually, the employee in question must get all of his/ her work done before taking the time off. He/ she must also check in with the boss about it.

That said, these programs offer employees and employers some excellent benefits. For one thing, employees aren’t left with vacation days they don’t use. On the flip side, employers aren’t paying for unused vacation days. And vacation gives employees and employers the time they need to recharge their mental and physical batteries.

As discussed, taking time away actually improves creativity and problem-solving abilities. Relaxed employees are productive employees in the end.

4. Hacking Health

Entrepreneurs concentrating on employee wellness and growth will have an advantage over the business owners who don’t.

In addition to offering programs like yoga and gym memberships, some entrepreneurs are taking things a step further. They’re embracing practices like fasting, office saunas, and nootropics to help employees live better and boost brain power at the same time.

While it may seem a bit… odd – to forego food in favor of brain supplements, the effects are beginning to pay off for company’s like Nootrobox. CEO Geoff Woo told Business Insider that, “[he and his employees often fast for] 36 hours.”

Fasting has a slew of health benefits, having been used for thousands of years to improve health and spiritual connection. Research suggests that fasting slows aging, increases the amount of Human Growth Hormone in the body, and reduces insulin sensitivity.

Coupled with the latest nootropics like Modafinil, and various nootropic blends (called “stacks”), Nootrobox employees are supercharging their daily productivity.

Workplaces that embrace these kinds of wellness program can reduce absenteeism as well as help to attract new talent. It also helps bolster employees’ health, which reduces the need for doctors’ visits. This lowers insurance premiums.

“Health is the greatest gift, contentment the greatest wealth, faithfulness the best relationship.” – Buddha

5. More Gig Economy Workers

Entrepreneurs and employees both can benefit from the rise of the gig economy. The gig economy is a term that describes how companies are shifting from hiring employees to hiring contractors. The workplace in 2017 (and beyond) will be a mix of these two types of workers, according to Forbes, a full 93% of companies embrace this change.

And why not?  It’s good for both entrepreneurs – especially ones running startups – and employees. For the entrepreneur, it means only hiring workers when he/ she needs them.

This prevents employers from having to keep an employee on the payroll he/ she can’t afford. It also allows the entrepreneur to grow as a company because this business owner doesn’t have to do without services that he/ she needs.

The workplace in 2017 is going to change drastically. The savviest entrepreneurs keep up with these trends by embracing them. If you’re trying to revitalize your workforce, think about implementing one or more of these programs. You may just find that your bottom line improves and your company culture becomes happier and more productive to boot.

Have you ever managed anyone? If so, what programs or opportunities did you present in order for them to want to work with you? Let us know by commenting your thoughts below!

Image courtesy of Twenty20.com

Continue Reading

Trending