Should You Slap A Simple Single Or Swing For The Fences?

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This could easily become a column on successful investing, but it’s not. It does, however, reflect a Noble Prize-winning concept that has propelled successful investors for more than half a century. It’s simple. I’ll explain it quickly.

Every investment option possesses two critical factors: risk and return. Scholars credit economist Harry Markowitz as the first to identify the correlation of risk and return. In his 1952 paper “Portfolio Selection,” Markowitz, the father of “Modern Portfolio Theory,” says low-risk investments can yield low returns and high-risk investments must yield high returns. The “can” and “must” refer to the price you should reasonably pay for the investment.

But this column isn’t about successful investing, it’s about life. Specifically, your life. More precisely, the choices you face in your life. Understanding the dichotomy between “low-Continue Reading “Should You Slap A Simple Single Or Swing For The Fences?”

Why It’s Important You Have A High Need For Achievement

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Photo by Ian Stauffer on UnsplashIf you had the choice, would you rather stand on the winner’s podium or watch as someone else stands on that platform?

Be honest, now. When you enter a competition, do you just say you’re there simply for the experience or, deep down, do you imagine yourself finishing first?

There’s nothing wrong with wanting to achieve. It’s quite natural and it’s often seen at a young age.

“Since I was a kid, I was always obsessed with achieving better results,” says Alessio Lorusso, CEO & Founder of Roboze, in Bari, Italy and Houston. “I was never satisfied with something if I thought it could be improved or reinvented completely to deliver the best results.”

This is a familiar story. Many business owners had their first taste of entrepreneurship before graduating high school.

“I’ve been an entrepreneur since my early teenage years, probably before I even knew Continue Reading “Why It’s Important You Have A High Need For Achievement”

Why It’s Important For You To Strongly Desire Autonomy

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Photo by Markus Winkler on UnsplashHow do you picture an entrepreneur? In a recent survey by Cox Business, small business owners listed their top three entrepreneurial idols as Steve Jobs, Ben Franklin and Walt Disney. But another part of that survey may be more revealing.

Roughly two-thirds of the respondents said the desire to be their own boss motivated their entrepreneurial pursuits. This sense of autonomy has come to embody the rugged individualist persona often associated with the entrepreneurial spirit.

“Following a process that does not make sense to me has a strong tendency to undermine Continue Reading “Why It’s Important For You To Strongly Desire Autonomy”

Why It’s Important You Believe You Control Your Own Destiny

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Duke Worne Productions / Duke Worne Productions, Public domain, via Wikimedia Commons

Duke Worne Productions / Duke Worne Productions, Public domain, via Wikimedia Commons

Imagine you’re out walking your dog on a nice sunny morning. As you approach the intersection, you see a car attempt to make a lefthand turn only to be hit by an oncoming car that runs the stop sign. No one’s hurt, but the cars are totaled.

What is your first thought concerning the innocent driver making the turn?

Is it “poor guy, he was in the wrong place at the wrong time”?

Or do you think “even though he had the right of way, he should have made sure the Continue Reading “Why It’s Important You Believe You Control Your Own Destiny”

Why It’s Important You Exhibit Creative Tendencies

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Thanough, CC BY-SA 4.0 <https://creativecommons.org/licenses/by-sa/4.0>, via Wikimedia Commons

Many aspiring entrepreneurs feel the creative urge represents the most important trait for success. Many great ideas, though, never become viable businesses.

Take a look at some of the greatest entrepreneurs of all time.

Did Henry Ford invent the automobile? No. Nicolas-Joseph Cugnot first produced a steam-powered automobile in 1769.

Did Steve Jobs and Steve Wozniak invent the microcomputer in 1979 with the introduction of the Apple ][ computer? No. The French team headed by François Gernelle within a small company, Réalisations & Etudes Electroniqes (R2E), created what they called the “Micro-ordinateur” in 1973.

Did Ray Kroc invent the fast food hamburger joint? No. Most point to White Castle’s 1921 opening of its original location in Wichita, Kansas, as the first fast food hamburger franchise. Heck, Kroc didn’t even invent McDonald’s. He bought the restaurant from founders Dick and Mac McDonald after becoming the chain’s franchising agent in 1955.

What is the importance of creative behavior?

It’s not the ability to come up with an original idea that wins the day. It’s the ability to take Continue Reading “Why It’s Important You Exhibit Creative Tendencies”

Why It’s Important You Become A Calculated Risk Taker

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Ed Dunens, CC BY 2.0, via Wikimedia Commons

When you talk to people about what it takes to be an “entrepreneur,” most people will say you need to be a risk taker.

When you talk to people about what it means to be a “risk taker,” most people will begin describing daredevils and gamblers.

In both cases, these answers are at best incomplete if not totally incorrect.

Risk taking is fundamental to sound investing. Without risk, there could be no return. It’s Continue Reading “Why It’s Important You Become A Calculated Risk Taker”

Is Starting A Business Worth It?

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Can you feel inflation eating away at your income? Are you worried matters will only get worse as the nation dives deeper into recession? Perhaps you’re eying that favorite hobby of yours, wondering if you can tweak it a bit to bring in some much-needed revenue.

What’s holding you back?

If you’ve spent the bulk of your career working for someone else, it’s only natural to wonder if starting a business right now is worth it. You can be on the cusp of retirement or even in retirement. Sure, you enjoy helping people, but wouldn’t it be easier just to give it away for free and cut back on other expenses?

Well, no matter what your age, a healthy challenge can invigorate the soul.

“Starting a business can be an exciting responsibility to take on for many people,” says Nick Chandi, CEO, and Co-Founder of ForwardAI in Vancouver, British Columbia. “It’s also a Continue Reading “Is Starting A Business Worth It?”

The Great American Maxim: Stand Alone And Win

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The Conqueror“The game was created to demonstrate the futility of individual effort. Let the game do its work… If a champion defeats the meaning for which the game was designed, then he must lose.”

So says Mr. Bartholomew in 1975’s classic film Rollerball. It’s an American tale. An epic retelling of the classic mantra that fills the heart of every red-blooded citizen from the very founding of our country.

Don’t believe me? Just look at some of the most popular books, films, or any other place where a character must confront personal and public obstacles in heroic fashion. The most compelling of those stories are built around a single individual.

No, it doesn’t take a village to succeed, it takes self-discipline, self-reliance, and, ultimately, Continue Reading “The Great American Maxim: Stand Alone And Win”

The Secret Step to Success: The Art of Delegation

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It’s the bane of every author. No, it’s not writer’s block, writer’s cramp or carpal tunnel syndrome. Sure, all these things exist, but they pale in comparison to this single great curse: perfection.

They say “the perfect is the enemy of the good” and, when it comes to writing, this is all too often true. Diligent writers weigh every sentence, every word, every syllable. Good writing is not merely a collection of coherent thoughts, but a flowing melody of music.

Think of your favorite books. Whether they be fiction or non-fiction, they all possessed the Continue Reading “The Secret Step to Success: The Art of Delegation”

5 Reasons You May Be On The Cusp Of Success (And Not Even Know It)

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Look around you. Now, more than ever, the world teems with constant change.

Some succumb, consumed by the cascading chaos.

Winners smile broadly, delighted by the array of percolating opportunities.

“Do I have what it takes to be an entrepreneur?”

This is the question every budding entrepreneur asks. It is the wrong question.

Imagine

Wouldn’t you benefit more if, before beginning on your entrepreneurial journey, you knew Continue Reading “5 Reasons You May Be On The Cusp Of Success (And Not Even Know It)”

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