Tag Archives: business

Adopt The 10x Mindset

By Thomas Oppong

There are no absolutes in life. And there are no givens. Everything is up for grabs. Most people dream of accomplishing something extraordinary in life. But life slips by and their most meaningful dreams slide silently to the side while they’re getting everything else done.

Grant Cardone says, “Never reduce a target. Instead, increase actions. When you start rethinking your targets, making up excuses, and letting yourself off the hook, you are giving up on your dreams!”

Operating at an exponentially higher level is exactly what you need to do better and be successful in your endeavors. But everything starts with a decision to aim higher than usual. Only those with the right mindset, attitude and skill can take advantage of the enormous human potential.

You can’t achieve extraordinary results with an ordinary mindset

“The greatest danger for most of us is not that our aim is too high and we miss it, but that it is too low and we reach it.”― Michelangelo Buonarroti

Many people are far below their expectations because they have big dreams, incredible ideas, and fantastic goals but put in little or no ACTION.

As you build on your accomplishments and your confidence grows, you will naturally want to aim higher. Now that you’ve got some momentum going, it’s time to double your effort.

Extreme success in your own terms can only be achieved by taking massive action with the 10X rule, a concept made popular by Grant Cardone.

The 10X rule is based on the idea you should figure out what you want to do, goals you want to achieve, and multiply the effort and time you think it’ll take to do by 10.

In his book, 10x Rule, The Only Difference Between Success and FailureGrant provides an awesome blueprint for how you can rise above the status quo to take “massive action” instead of behaving like everybody else and settling for average results.

“The greatest turning point of my life, both professionally and personally, was when I stopped casually waiting for success and instead started to approach it as a duty, obligation and responsibility,” says Cardone.

We have a tendency to underestimate what we can accomplish, and therefore set lower goals and not reach our full potential.

When you apply the 10x rule and mindset to your thinking, and apply it to how you act, you can do more in the shortest possible time. And you will still have time to take care of a lot of other things on your to-do list.

Stay hungry!

The idea of a 10x advantage is to aim ten times higher when you set your goals in business and life. You are probably not thinking big enough about your life’s work, projects, and what you want to achieve in your career.

A 10x mindset or goal means that if you come up short, you’ll still find yourself further along than if you had maintained your life’s current goals, visions and everything else you have planned to achieve.

Christopher Reeve once said, “So many of our dreams at first seem impossible, then they seem improbable, and then, when we summon the will, they soon become inevitable.”

And it also means that you open yourself up to bigger possibilities for the future that make it increasingly easier to make decisions and take action in the present. You can move and work your goals 10 times faster while being consistent and persistent.

But don’t underestimate how much energy and effort it will take to push things through though. Things could take longer to complete or cost more. Plan for these things you plan to focus on ahcieving more using the 10x rule.

Thinkers and dreamers are the new untouchables

“Between the great things we cannot do and the small things we will not do, the danger is that we shall do nothing.” — Adolph Monod

We’ve been conditioned to think small, simplify and to expect less and demand less from life. Don’t be subject to the tyranny of “how things have always been done”. Find your true north and push past the default.

For centuries we’ve been trained by the system to stop thinking and do as we are told. But dreamers and thinkers change the world. They don’t follow any logic. It’s hard to replace the dreamers with algorithms.

Can you build something people will look for, will talk about or something we would miss if it were gone. Think about your capacity to think creatively and exponentially. And your your capacity to provide value to others. Start seeing things from a wider and far reaching perspective.

You should start thinking big without reservations. Practice thinking about your future being 10x bigger and better, and you’ll develop a new 10x standard for viewing the world.

You can only contribute more, learn more, become more and stretch yourself and your own abilities beyond their current psychological limitations if you give yourself permission to think beyond the obvious.

Turn mindset into action

The right intentions will only get you so far. You also must act. A 10x mindset radically shifts your thinking, your decision-making, and the actions you take.

Start identifying actions that are blocking your progress toward 10x growth and get rid of them. Focus on doing even better at those things you’re already good at and stop worrying about everything you struggle with.

Tackle every project with the 10X Rule, acting like you have to succeed because your life depends on it.

Before you go…

If you enjoyed this post, you will love Postanly Weekly (my free digest of the best productivity, career and self-improvement posts). Subscribe and get a free copy of my new eBook, “The Power of One Percent Better: Small Gains, Maximum Results”. Join 23,300+ readers.

What’s the cheapest business to start?

By Erik Tozier

I was grabbing a coffee with a friend the other day and in the coffee shop, we got into a conversation with a gentleman who started telling us about his food truck. He was going on about how they originally took a $50k loan to get the business going, and how he was spending 16 hours a day on the business. I was supportive and respectful, but not how I look to go about my businesses. 16 hours a day at the beginning, maybe 1 hour a day once it’s launched.

Brick and mortar businesses are going out of style. Brick and mortar businesses are expensive as well ($50k for a food truck with no guarantee of success!!) If you want to make it big, you have to leverage your network and the reach of the internet.

I’ll give you a few business ideas that cost less than $200 to start. Most are built around creating content and building an audience. Content creation is a great way to start a business. Essentially, build an audience, then monetize. I will also list a few others.

  • Blog (less than $50 for domain name and 12 months of hosting fees)
    • Start writing unique content on a specific niche and you will build an audience. Over time, you can add ads, affiliate links, products, coaching courses, etc. to your blog. Since you already have an audience, they will be open to buying.
  • Social Media Sites: Twitter, Instagram, YouTube, Facebook (free)
    • Why not utilize a platform that already has millions of users? You can create an account on any of these platforms and start building a business this way.
    • I watch a lot of YouTube videos and it’s crazy how people can make a living off creating videos.
    • One downside of these platforms is if they change their algorithm or pay-out structure, then you may lose out on views, ad revenue, etc.
  • Consulting or Coaching (Free, but will take time to build a client book and reputation)
    • Are you an expert in a certain field? You can contract for and consult clients for a solid hourly wage. It’s a fun job and if you can communicate well, it would be a solid role for you.
  • Digital Product Creation (think e-book or how-to-guide, Free)
    • Creating a e-book on an area you are passionate about and sell it for a few bucks. The only time you spend is upfront, after that, it’s passive income.

It’s a great strategy these days to leverage the internet’s wide reach. There is so much money in the world right now… we just need to go and get it.

5 Ways to Keep Your Business Financially Sustainable

By Mark Thomasson

The rule of thumb for every business is that they should never run out of cash. Therefore, all the business transactions you make need to have a clear purpose and a tangible financial backup.

Thinkstockphotos 476777720 690x460

Due to the dynamic nature of contemporary business, keeping your finances in order is more of a rocky road than a bed of roses. To help business owners run their ventures as successfully as possible, we’ve prepared a set of crucial prerequisites to not only stay afloat but thrive in the marketplace.

1. Bring an Austerity Policy

From one point of view, it’s better for an inexperienced entrepreneur not to succeed to fast. If you have to struggle to make ends meet for some time, you’ll learn to appreciate both your work and your earnings. However, if you’re (un)lucky – depending on the perspective –to achieve your goals quickly, bring these clear austerity measures to keep your budget under control:

  • Allow for only essential purchases. Nothing but essential business items should be bought.
  • Limit recruitment and payroll. Avoid long-term employment contracts. Go for outsourcing and freelancers instead.
  • Benefit from business plan software. Use software tools to make detailed business plans.
  • Reduce overheads. Encourage employees to work from home and rent a smaller office space.

When your budget is reserved only for necessary business transactions, you’ll always have enough assets for your operations.

2. Open Separate Accounts

Using the business budget for personal expenditure is the biggest temptation new business owners face.

Some entrepreneurs make this mistake due to a lack of experience. However, others simply relax and start spending their business assets for private purposes. If you adopt such a lifestyle, you’ll have a wide range of problems. Your business will be in the red and it will take a lot of time to put it back in the black again.

To avoid such a misfortunate outcome, you need to have two separate accounts. One of them should be registered on your company and used solely for business transactions. On the other hand, your personal account will serve your private purposes. As for the amount of money you will take from your company monthly as a salary, study several different options to find the best one for your business’ long-term financial health.

3. Track Your Payments

… Continue reading

5 THINGS GREAT PRODUCT MANAGERS DO EVERY DAY

By

My favorite product managers are quietly powerful. Every day they take small steps that move their teams and business forward in a meaningful way. But they do it without a lot of hoopla, taking a confident yet unassuming approach.

After all, product managers have a lot on their plate every day. They are responsible for the strategy, roadmap, and feature definition for their product. It is a big responsibility that requires facilitating and collaborating with many different teams — both internal and external — without the formal authority to manage those teams. It requires a unique mix of humility and strength.

However, that quiet power does not mean leading product is easy. I realized early on that the daily life of a product manager is unpredictable, hectic, and sometimes very tough.

In the late 1990s, my first product management job was helping to roll out high-speed internet nationwide when it became a viable (and highly desired) alternative to dial-up services. We went from providing 300 lines monthly to more than 3,000 — all in a window of about 60 days. I quickly learned how to balance staying on a strategic course and managing the endless minutiae that was required to get each customer up and running.

I had always been a leader, so handling the stress and responsibility was natural for me — but I had a lot to learn about focusing my efforts on what mattered most. I soon realized that with great accountability comes great autonomy. It was up to me to prioritize what needed to get done and when.

This is great news for ambitious product managers: You have more control than you might think, no matter how hectic each day feels.

Here are five things great product managers do. Used consistently, these actions can help you prioritize your work every day and thrive.

1. Align actions to goals

To succeed as a product manager it is essential to take a goal-first approach. Prioritize what must get done that day and assess and align new work against your goals. Swiftly break through the endless tasks and chatter by evaluating each request or demand through the lens of your goals. This does not mean you should shut down disruptions as “noise” to be silenced. Embrace the interruptions that align with your goals — one may be the missing idea that makes your product wildly successful in market.

2. Connect the dots

Understand how your product serves your business — the big picture of why you are building it. This may seem obvious, but without that connection, product managers are often led astray by differing opinions, demands from internal teams, and conflicting customer feedback. Identify why your product matters to your business and to customers so you can navigate with a steady mind.

3. Solve one simple problem

You may be tempted to solve every problem for your customers. But you cannot be all things to all people. You will spread yourself too thin and lose that firm direction. Instead, focus on solving one problem at a time. I like to say, “Focus on one problem, and solve the second for free.” Tackle one problem well and new opportunities will emerge.

4. Learn from others

Invest the time and effort to learn about your product team’s core work so you can set realistic deadlines. This is especially important for teams that share resources. Ask questions and get to know the full scope of their experience and tasks. It is also important to admit what you do not know. Rely on the expertise of your extended product team to help you deliver on the promise of your product.

5. Say “no” with confidence

Not every idea will be meaningful. And, in fact, most will be lousy. Great product managers understand that saying “no” is not a one-word answer. This is your chance to explain why the idea does not make sense within your strategic direction. Do not hide from these conversations or be dismissive. Take each “no” as an opportunity to recommit to your goals — and to re-evaluate whether your aim is true.

I know this advice to be effective — but hard to follow. So be kind to yourself when you feel cornered or stuck. Stick out your chest and remember that you have more control than you think and a team at your side.

You too can achieve the quiet power that separates good product managers from great ones. Never lose sight of your goals and embrace each day with humility and strength. Now go get busy.

Discover your own power as a product manager.

10%Better To Win

Influencive

 


Be 10 Percent Better to Win

By Betty Liu @BettyWLiu

 

You’ve read about being 10 percent happier, but what about being 10 percent better?

One entrepreneur, the highly successful and driven Kevin Ryan, founder of Business Insider, Gilt Groupe, MongoDB, and many others, says in order to succeed, you only need to be 10 percent better.

If you doubt his opinion, Ryan told me you need to look no further than Google.

In the latest episode of our Radiate podcast, Ryan notes: “I think one of the mistakes that people make [is] they think their idea is not groundbreaking. And by the way, most ideas are not groundbreaking. Google was a terrible idea when you think about it. It was just a search engine; there already were seven. Theirs was a little bit better. That’s it.

“They had the idea, and the way of doing the search engine was a better way of doing it. And so the results probably 10 percent of the time were fundamentally better. Ninety percent didn’t change, but 10 percent was [better]. And that was enough.”

Hearing this is a relief. You mean I don’t need to build a whole new type of rocket like Elon Musk to become a billionaire? Or invent a whole new electronic device like Steve Jobs?

The more I thought about what Kevin said, the more I realized how absolutely right he was. Most of us think we need to create the next big thing to succeed, and we become frustrated when every single idea seems so inadequate. When I first had my twin boys, my sister and I–ever the budding sister entrepreneurs–thought of a baby gifting business, since both of us were awash in baby drool and diapers all day long.

But when we scanned the internet, there were already dozens of gifting sites just like ours. And they were pretty damn good. Motivation sapped, we hung up the idea after a few sketches and late-night brainstorming sessions. Besides, did we really think we were the only ones with this great idea?

When I think back on it, we were just too inexperienced to understand that precisely because there were so many companies with the same idea out there, ours was actually a good one. And in fact, thinking about it some more, many of the smashing success stories you read about are companies that simply improved on what others were doing:

  • Facebook: Remember Friendster or MySpace? Mark Z just made social networks better.
  • Microsoft: There were half a dozen operating systems already from IBM, Atari, and others. Bill Gates just made his better.
  • Starbucks: Coffee shops were everywhere (that’s why venture capitalist Alan Patricof declined to invest. Oops). Howard Schultz made his spot a little more comfy.
  • Apple: BlackBerry was already making a pretty good phone. Steve Jobs made his iPhone better.

Now that I’m starting a company of my own for real–no diaper ideas this time–I’m taking Kevin’s observation to heart. How do we make our site and network for professionals 10 percent better than what’s already out there? If people are already going to other sites for help with their careers, what can we do that’s different?

That’s exactly what our small team is focused on right now. However, trying to figure that out is not 10 percent harder, it’s 100 percent harder. It seems like an unfair mathematical equation–put in 100 percent of the effort for a 10 percent improvement, but when you’re trying to be the Kevin’s of this world, that’s the kind of math that adds up.

Is There a Shortcut to Success

“One of the greatest values of mentors is the ability to see ahead what others cannot see and to help them navigate a course to their destination.” –John C. Maxwell

And that means learning from someone who’s already been there.

You need a guide
For years as a writer, I struggled to get noticed. I blogged and nobody cared, tried to write books no one would read, and failed to motivate myself to work. I wanted a publisher but didn’t know anyone in the industry and didn’t have any readers to show for my work. I was stuck.

What I needed was someone to show me another path. It didn’t have to be a shortcut. I was just tired of the long road to success — because it was leading nowhere — desperately wanted to know what was missing.

In any great story, there is a point in the journey when the hero meets an obstacle he cannot overcome. This is the moment when the guide arrives. This is the essence of Joseph Campbell’s Hero’s Journey: you cannot succeed without someone wiser to show you the way. Frodo needed Gandalf. Luke needed Obi-wan. And you and I need a mentor.

Sure enough, in my own journey, that’s what happened. I met a handful of people who acted as guides in helping me become an author, speaker, and entrepreneur. My dream became a reality within a matter of 18 months. But this wasn’t because I hustled — it’s because I found a guide.

And you know what? I didn’t work any harder in those 18 months than I did in the previous seven years. But I did work smarter — not because I was any smarter, but because someone showed me a better way. I met the right people, connected with the right networks, and practiced my craft in the right way. In other words, I found a shortcut.

But maybe you don’t like thinking of success this way. I certainly don’t. It’s embarrassing to admit I got a little lucky, that I was in the right place at the right time, that it wasn’t just about the hustle. But that’s the truth. And I think we need to acknowledge this reality.

How to find a mentor
How do you find a guide, or in today’s terms, a mentor? It’s not as easy as we’d like. First of all, mentors tend to be busy people. So getting in front of one will take work. People move around so much these days, and so many things, including our careers, are constantly changing. It stands to reason, then, that your mentor will not just be one person, but a team of people.

In my book, The Art of Work, I call this an “accidental apprenticeship.” The idea here is that if you pay attention to your life and the people who are in it, you will find there are those around you right now whom you can learn from. In that sense, the best mentor is the one that’s right in front of you.

Still, you’ll want to be intentional about getting into a relationship with this person. So there are a few steps I recommend following that have worked well for me and that I’ve seen others emulate, as well:

Make your first ask a small one. In other words, don’t lead with, “Will you mentor me?” Instead, ask for a few minutes of their time, offer to buy them lunch/coffee/whatever.

Make it all about them. Ask them to tell their story. Ask specific questions about choices they made in their own success journey and why. In other words, flatter them to death. Nobody is immune to this kind of treatment, and it certainly beats the awkward alternative. Come prepared with questions, and try to talk as little as possible. If you show up informed and interested, you will be both engaging and memorable.

Take notes. When you meet with this person, write down everything they say. Honor their wisdom by capturing as much of it as possible. I recommend using a notebook and pen over a phone, just so that it’s clear you’re not checking your email or texting your buddies.

Follow up. This is perhaps the most important and most often overlooked secret to getting into relationship with influencers who can eventually become part of your team of mentors.

I meet with a lot of people and even tell them how important this is and still see on average about 80% of people never follow up. What I mean by this is a simple thank-you email for the person’s time, or even better: a copy of the notes you took to show that you really did listen and take to heart their wisdom.

Become a case study. Hands down, this is the best thing you can do to earn the attention of an influencer. And if you do this consistently over time, you will get people interested in mentoring you.

Take some piece of advice this person has given you (or published in a book, blog post, etc.) and apply it. Demonstrate that this stuff works and tell the world about it. The reason this works is fairly obvious: you’re making the mentor look good.

Again, this goes back to making it about them. Don’t offer empty flattery; just show that you’re someone worth investing in. Do this enough times, and people will be lining up to give you their time, attention, and ideas. Because the truth is nearly everyone wants to help someone who is going places, so they can feel responsible for that person’s success.

Is this really how it works?

I realize this may come off as manipulative or even sound a little unsavory. So allow me to address a few potential objections:

Objection #1: Don’t influencers just want to help people out of the kindness of their hearts?

Well, maybe. But they’re busy. And so when push comes to shove, they’re going to invest in people with promise, not takers who seem to make everything about themselves. Your best bet is to be remembered as the ambitious person with lots of questions who was eager to learn, not the know-it-all who was more interested in herself than the person with experience.

Objection #2: Are mentors so egotistical that the whole thing has to be about them?

No, they’re probably not all ego. But we all love to feel important and valued once in a while. And when seeking someone’s help or advice, appeal to this side of them, not their more noble generous side. As you earn their trust, you will see more of this side. But in the beginning, assume they are only interested in helping themselves. And make it worth their while. I’m sure many influencers are very kind and generous people. But it’s better to lead with humility than arrogance.

Objection #3: Do I have to be so strategic? Can a relationship be an end in itself, and not a means to get something out of people?

Of course, a relationship can be an end in itself. But the truth is most of us, whether we admit it or not, want something out of a relationship. And that something could just be love or acceptance or maybe even guidance. Just because you want something from someone doesn’t necessarily cheapen how you approach them.

And in that regard, yes, I do think you have to be strategic. Many of us are extremely busy. So if you don’t make intentional space for people to guide you, then you will likely drift through life, disappointed and disillusioned as you watch others succeed in things you wish you could achieve.

My advice? Don’t be so strategic it stifles the relationship. But be intentional with your time and focus it on those who will give you a return on your investment. I guarantee you this is how your would-be mentors are thinking.

Avoid the scarcity mindset
My friend Mary told me when she was first starting out as a writer, she asked an author out to lunch. “How do you get published?” she asked. The person wouldn’t tell her. She said those were her secrets and that Mary would have to find out for herself.

That day, Mary vowed that if she ever made it as a writer, she’d share everything she learned with other aspiring authors. A few years later, I called her asking for advice, and she made good on her promise.

Shawn Coyne, long-time New York editor, told me a similar story. Back in the day, nobody in publishing shared anything. There were no guidebooks on how to be an editor. He had to figure it out all on his own. Once he did, instead of hoarding his knowledge, he decided to share it in a book, blog, and podcast. And this refusal to succumb to the scarcity mindset changed everything.

When we let go of our perceived scarcity and embrace our actual abundance, it changes so many things:

Scarcity kills our creativity. Abundance expands it.

Scarcity makes us afraid. Abundance makes us brave.

Scarcity pushes people away. Abundance attracts.

It can feel a little risky to embrace this mindset, this idea that there are guides out there who will help you and opportunities for success yet to be uncovered. But it is a much better way to live than to assume the alternative: that everyone is out to get you and there is no way you’ll succeed.

And once you do experience this abundance, you will have an opportunity to help others, which is one of the greatest rewards of success. This is why I feel so responsible for helping other writers make their own journey towards getting published.

Of course, I tell them it will take hard work. But I also teach them the rules of the game and how to improve their chances of success. You can’t just work harder. You have to work smarter. Stop trying to manage your time, as my friend Rory Vaden says, and instead learn how to multiply it. Finding the right guides to help you is an integral part of that process.

The three shortcuts to success
So how does this work? Well, keep in mind that I teach this stuff to hundreds of students at a time over the course of a couple of months, but the following are the main highlights:

Shortcut #1: You can get to where you want faster if you follow in someone else’s footsteps.

Find a guide or mentor you can learn from and emulate, even from afar. This is the difference between those who continuously struggle and those who find a faster way to succeed. Humble yourself and trust that there are those out there who want to help you.

Shortcut #2: Invest in opportunities that grow your capacity.

In other words, don’t waste years trying to figure things out. Instead, sacrifice time and money to accelerate your learning. That might mean taking a course, hiring a coach, or working for free for a certain period of time in exchange for experience.

Shortcut #3: Change your location. When opportunity is sparse, move.

That might mean moving across town to a co-working space where more people are connecting in person. It might mean ponying up to go to that industry conference where all your peers will be. Or it might even mean relocating to a place where there are more people doing what you want to do.

The point is geography matters. And chances are there’s an opportunity closer than you realize. You just might have to move towards it before it will come closer to you.

Do these things, and you will see your luck increase. I promise. You can’t just sit around and wait for things to happen — for those mentors to come find you or for opportunities to fall in your lap.

Luck, of course does happen on occasion, but it’s better to look for luck than wait for it. Because luck is often hiding in the hard-to-reach places that most people are too timid to approach.

Who knows? Maybe as you scan the horizon for the right opportunities, you just might see a shortcut.

About the Author: Jeff Goins writes books and helps writers get their work out into the world. He’s the bestselling author of four books, including The Art of Work. Jeff also authors a weekly newsletter with free tips on writing and creativity.

Why Rich People Hate Trump


From Bill Bonner, chairman, Bonner & Partners: It’s back to Europe. Back to school. Back to work.

Let’s begin by bringing new readers into the discussion… and by reminding old readers (and ourselves) where we stand.

Small and Lonely Group

As a Diary reader, you join a small and lonely group.

But we know something others don’t.

We—and apparently only we—understand the real cause of our economic malaise.
What malaise, you ask?

Well… how could the richest, most technologically advanced, and most scientifically sophisticated economy stop dead in its tracks?

The rate of economic growth has gone steadily downhill for the last 30 years. By some measures, after accounting for the effects of inflation, we’re back to levels not seen since before the Industrial Revolution.

And how could such a modern, 21st-century economy make the average person poorer?

When you measure actual inflation, rather than the government’s crooked numbers, the median U.S. household income is 20% lower today than when the century began.

And why would our modern economy concentrate wealth in the hands of so few, so that only the richest 1% make any real progress?

You may also ask a question with an obvious answer: Why are the richest and most powerful people in the country overwhelmingly supporting Ms. Clinton in the presidential race?

You find the answer to all these questions the same way: Follow the money.

Record Haul

Ms. Clinton is raising record amounts of money—$80 million in a single month.

Big corporations, banks, military contractors, rich people—all are pitching in to make sure Hillary is our next president.

Why?

Because she promises to protect the status quo.

That, of course, is what government always does. A free economy is a precarious place for wealth. It is despised by nearly everyone—especially the rich.

In a truly free market, the process of “creative destruction” can’t be controlled. New wealth is born. Old wealth dies.

Naturally, people with wealth and power try to use government to get more wealth and power… and to stop the creative-destructive process. They want to protect what they’ve got already. That’s why the real role of government is to look into the future and keep it from happening.

Hillary stands like King Canute, promising to stop the tides of economic history.

What’s this got to do with money?

Let’s ask another question instead: What is the source of Ms. Clinton’s campaign pile? Whence cometh all this lucre?

“It comes from rich people,” you will say.

But where did the rich get so much money?

Ah… that’s where it gets interesting.

We remind you of the context: So far this century, only the rich have gotten wealthier. Naturally, they are keen to see the system that gave them—and them alone—such great wealth continue.

Old Money, New Money

The key to understanding it all is the money system itself.

The money you spend today is the money that President Nixon inaugurated on August 15, 1971.

That’s when he reneged on America’s promise to convert foreign creditors’ dollars to gold at a fixed price of $35 per ounce… and broke the last link between the dollar and gold.

Nixon’s new money looked, for all the world, like the old money. It seemed to work just like the dollar always did. And the most distinguished economist of the era—Milton Friedman—advised Nixon to put it in place.
Subtle… slippery—the difference between the old dollar and the new one went unnoticed for 40 years.

Old dollar? New dollar? Who cared?

Even now, most of the world has no idea what happened. But we, dear reader, are beginning to connect the dots.

Here’s the basic difference: The old gold-backed dollar represented wealth that had already been created. You got more dollars as you created more wealth.

Money was real wealth.

But this old money was hard for the authorities to control. They said it was uncooperative. Intransient. And stubborn. They wanted a new kind of money… and a dollar they could manipulate (to make a better economy, of course).

So, the new dollar was created. And this new dollar was not based on wealth, but on debt.

It was not backed by gold. And it was not connected to the real wealth of the economy.
Instead, it was brought into being by the banking system—as a credit. It increased as people borrowed and went further into debt, not as they grew wealthier.

The more they borrowed, the more they could buy. This gave the economy the appearance of growth and prosperity. It allowed millions of Americans to increase their standard of living, even as their salaries stalled.

But every purchase put people further into debt…

Between 1964 and 2007, credit expanded 50 times.

And in 2008, the credit bubble burst.

More to come…

Reeves’ Note: The big corporations, banks, military contractors, and rich people backing Hillary Clinton are just apparatchiks of what Bill calls the Deep State… a nebulous group of elites who have infiltrated the far reaches of the American government.

Bill exposes this unelected group of insiders, and offers a “prep guide” to protect your wealth and privacy from its intrusion… in this urgent warning.

Do Not Wait!

The greater danger lies not in setting our aim too high & falling short; but in setting our aim too low & achieving our mark.” – Michelangelo

Why You Must Not Wait

By Jason Leister

Waiting for something to happen in your business just plain sucks.

Sometimes you’re waiting to hear back from a prospect or a vendor — sometimes you’re waiting on a payment from a client or a customer.

At other times, you’re waiting on someone to do something that they said they were going to do.

I’ve done more than my fair share of waiting. And when I fall into that trap, I end up feeling really stupid.

I feel stupid because I’ve allowed someone other than myself to slow down my progress. I feel stupid because when I’m “waiting,” often times that’s all I’m doing.

The progress of my business slows because I’m focused on the waiting.

But Waiting Is Not the Problem, It’s a Symptom

Waiting for someone or something in your business really isn’t a problem in and of itself. Waiting is really a symptom of the real problem, which is that you care more about what the world does than you care about what you are doing.

Waiting puts you in the position of caring about the effects of your actions more than moving onto the next action. Waiting puts you in the position of allowing yourself to be molded by the world instead of being the one doing the molding.

Here is the bottom line that you never want to forget…

The only thing you ultimately control in business is what you put into it. Despite what the business gurus tell you, I’ve never met anyone who had total control over what actually happens in a business. Sometimes it might look that way from the outside in. But when you’re on the inside, it simply doesn’t work that way.

So to put your focus on anything but your input is simply misdirected energy. It’s not going to do you any good no matter how hard you try. (And boy, do we try.)

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When you find yourself waiting around in your business, ask yourself, “Why have I chosen to put my focus on the actions of others instead of keeping my focus on my own action?”

That single question might be enough to snap you out of your trance and back into the mindset of a business builder.

The business building mindset is where you are focused on what you are doing. You are focused on the input. You are focused on the recipe. You are focused on things that you can control. You mess with that focus when you start thinking about what’s happening (or not happening) because of what you are doing.

In other words, you reduce your potential success when you get too attached to the results of what you are doing. It’s not that you don’t care what happens, it’s simply that you are not attached to the outcomes in an unproductive way. There is a difference and it is a pretty large one.

If you are waiting for anything in your business, I’d suggest that you simply don’t have enough work to do. Or at least you have not given yourself a long enough list of other productive things to do while the results take care of themselves.

In the absence of your list of important to-dos, you just sit and wait.

How Much Can One Person Accomplish?

I still remember the first week I tried planning out my work and blocking out my time. I basically ran out of things to do before the first day was over! That’s a bit of an exaggeration but it’s in an effort to make my point clear:

Despite how “busy” we say we are, very few of us actually have enough to do. Enough of the right things to do that is.

Instead, our days are filled with busy work and only highlighted with the occasional important activity.

The important activities come so rarely that we feel like we did something special just for completing one. Then we wait around to see what happens because of our “major accomplishment.”

That’s the trap you want to watch out for.

Operating like that is a sure sign that you need to better plan your work. When you decide to stop waiting for success and start pursuing it, you realize that one of the most difficult things to do is to plan enough work to fill your time with important tasks.

It might be hard to believe, but this is actually hard work and requires a lot of discipline in my experience. But it’s work worth doing. Because in the absence of a plan like this, you end up falling into the trap of “waiting” for something.

Wait For No One, Because Waiting is Wasting Your Life

I think a better way to operate is to go in with the attitude that, “You wait for no one.”

The idea isn’t that you should be a jerk and demand that everything happens on your terms. While that might be the stereotypical success personality, who wants to go through life acting like that? You might end up successful, but you’ll also end up alone. And that, in my book, is total failure.

The core idea I want to communicate is that when you’re waiting for someone to do something or for something to happen, forget about it in an instant and take action on something else to build your business.

Let’s say you are waiting on a payment from a client. Days go by and the payment doesn’t arrive. You wait and you wait, but still no payment.

You have two options:

The first option is to wait around and stew about it. Choose this path and you’ll be focusing your energy on a target that will do you absolutely no good.

The second option is to move on and focus on something you actually control. This will keep you in the driver’s seat of your life and your business.

Getting caught “waiting for the world” is a fool’s game. You will never win, because the world is not there to serve you. You are there to serve you.

Are you waiting on something or someone in your business?

Stop waiting, stop stewing, stop complaining.

Just start doing.

About the Author: Jason Leister is a direct response copywriter, internet entrepreneur and editor of the daily e-letter, The Client Letter, where he empowers independent professionals who work with clients. He has seven kids and lives and works in the mountains of Arizona.

After Meeting Anyone

The One Thing You Should Do After Meeting Anyone New

By Michael Simmons

At 24-years-old, Francis Pedraza is the co-founder and CEO of a venture-backed company, Everest. In addition, he is an advisor to 10 tech companies, each of whom he does hundreds of introductions for in return for equity.

It is hard to predict how my Forbes interviews will go. Most top relationships builders are not able to articulate how they do what they do.

Francis does not fall into this camp.

Within a few minutes of talking with him, he had transformed my perspective on relationship building.

The elaborate system he has created allows him to dramatically scale the value he adds to the people in his network.

How could a 24-year-old founder who is busy building a company offer more introductions than venture capitalists whose full-time job is to find and support portfolio companies into which they’ve invested millions of dollars?

Why You Should Share Your Network With Other Entrepreneurs You’ve Vetted

Imagine building a road to an amazing place and then only using it once.

That would not only be a waste; it would be selfish.

You’ve already incurred the cost, and it doesn’t hurt you if other people use it. In fact, it helps to share because you build relationships with other drivers who appreciate your generosity.

Despite the obvious benefits, most entrepreneurs fail to proactively share their networks of vendors, investors, employees, and partners.

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They build it and then let it sit.

If you’re raising money, you talk to dozens of investors until you’re finished. Then, you focus on other networks. The same goes for interviewing dozens of employees and vendors to fill open positions. Once you fill a position, you stop looking until the next time you have a position.

Here’s the problem with the on/off approach: If you don’t always nurture these networks, then they are harder to activate when you need them.

Francis’ insight was to make introductions for other high potential tech companies to investors, designers, and engineers he already knew even when he didn’t immediately need these networks.

Speaking on why he made this decision, he shared two reasons:

  1. Building Relationships With Investors

    “When we raise our next round of financing, potential investors will be less likely to ignore me or act in bad faith, because they know that I’ve built a big network and proven its value.”

  2. Learning From Top Entrepreneurs In Other Sectors

    “By being a trusted advisor to other companies, I broaden my perspective in two ways. First, I become privy to the deepest challenges of other top tech companies. Secondly, I learn what they’re learning as they learn it.”

At this point, most people using Francis’ logic would take an ad hoc process to making introductions when people came top of mind.

Instead, Francis created an extremely powerful system that simplified and scaled his impact.

Focus On Quality Before Quantity

The difference between introducing an investor to a world-class entrepreneur and a talented entrepreneur is tremendous.

Investors earn almost their entire return from one in ten companies they invest in that hit it big.

With this in mind, Francis decided to actively search for and select high potential startups that he believed in that he could advise.

By primarily making only high-quality introductions to startups he had vetted, he could provide more value to investors and learn more from the entrepreneurs.

Why Making Hundreds of Introductions For A Single Company Makes Sense

Finally, instead of doing just a few introductions for each company, Francis does hundreds. To receive funding or to fill open positions requires talking to dozens of people. By only making a few introductions, you’re certainly helping, but you’re not pushing the ball forward as much as you could be given the need and your ability. Here’s Francis’ logic:

The reason I make hundreds of introductions rather than just a few is that fundraising is hugely impacted by momentum. It’s best to fundraise within a short window so that there is a lot interest at once and investors have time pressure. Furthermore, most investment meetings don’t turn into investments so startups need a lot of introductions in order to create momentum and find the needle in the haystack.

In order to scale the introductions you make, you have to organize your network in the right way. This brings us back to the title of the article…

Upfront Segmentation Is Better Than Top of Mind Later

The one thing you should you do after you meet someone is add them to the right cluster (i.e. – segment).

Most people treat their networks as one large connected cluster. The reality is that it is a set of many clusters.

This is critical because of relevancy. When you have a new article you want to share, a person you want to make an introduction for, or a dinner you want to invite people to, there two very likely possibilities:

  1. The opportunities are only relevant for a small segment (i.e., common passion, specific industry, location, etc.) of your network.

  2. Many of the opportunities you come across are relevant to the same few segments again and again.

The beauty of these two points is that if you find the segments that are relevant for your network, you can organize people into lists that you can reference whenever you need to.

Most people completely depend on who is top of mind. The problem is that the brain is designed to forget the large majority of what it’s exposed to. Just because someone doesn’t come to mind, it doesn’t mean that there aren’t many people who should have.

In my experience, by depending on what is top of mind, there is a good chance you’re missing relevant people by a factor of 10.

Because Francis divides his network into very clear segments upfront, knows how he is providing value, and has a tool that allows him to easily view segments, he is able to systematize all of his processes so they take dramatically less time.

Below is how Francis segments the investors in his network:

1. Segmentation

  • Corporate Development

  • Fund of Funds

  • Hedge Funds

  • Venture funds

  • Angel

  • Seed

2. Filtering.

  • Location

  • Fund Size

  • When The Fund Was Started

  • Check Size

To do segmentation, Francis uses social relationship intelligence platform, RelateIQ (see screenshot below). Started in 2013 with $40M+ in funding, the startup aims to use big data to help people build deeper relationships.

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Collect Data On People To Segment, Not Just To Jog Your Memory

With this new approach, you collect basic data for one purpose; putting people in a segment. This stands into contrast with most systems that are purely designed to jog your memory for the future. Most segmenting / tagging systems get mired in complexity; tags that are too similar or no longer relevant. As a result, many give up because the process is too time-intensive. Patrick Ewers, one of silicon valley’s top relationship management coaches and an advisor to Contactually (a platform similar to RelateIQ), helps guide his clients on how to segment their networks. In his words, “Before you go out and tag every single person with every single interest, narrow it down. Otherwise, it becomes a real brute force effort. You constantly have to add and remove people and tags. It’s one of those things that gets stale really fast. It’s like your address book that you never use. The key idea is simplicity.  I recommend starting with only 5 segments.” For too many people, networking is a bad word. It has come to signify individuals who use communication as an opportunity to broadcast what they want from others who aren’t even relevant to that product or service. Relationship building has become the antithesis of this idea. It represents personalized and relevant giving in order to build a relationship. Segmentation, when used properly, is one of the most powerful tools to deepen and scale the most important relationships in your life.

About the Author: Michael Simmons is the co-founder of Empact, a global entrepreneurship education organization that has held 500+ entrepreneurship events including Summits at the White House, US Chamber of Commerce, and United Nations. Connect with him on Twitter (@michaeldsimmons)Google+ and his Blog.

Always Stay a Student

Every man I meet is my master in some point, and in that I learn of him.”  — Ralph Waldo Emerson

The Maxim for Every Successful Person; ‘Always Stay a Student’

By Ryan Holiday
The legend of Genghis Khan has echoed throughout history: A barbarian conqueror, fueled by bloodlust, terrorizing the civilized world. We have him and his Mongol horde traveling across Asia and Europe, insatiable, stopping at nothing to plunder, rape, and kill not just the people who stood in their way, but the cultures they had built. Then, not unlike his nomadic band of warriors, this terrible cloud simply disappeared from history, because the Mongols built nothing that could last.

Like all reactionary, emotional assessments, this could not be more wrong. For not only was Genghis Khan one of the greatest military minds who ever lived, he was a perpetual student, whose stunning victories were often the result of his ability to absorb the best technologies, practices, and innovations of each new culture his empire touched.

In fact, if there is one theme in his reign and in the several centuries of dynastic rule that followed, it’s this: appropriation.

Under Genghis Khan’s direction, the Mongols were as ruthless about stealing and absorbing the best of each culture they encountered as they were about conquest itself. Though there were essentially no technological inventions, no beautiful buildings or even great Mongol art, with each battle and enemy, their culture learned and absorbed something new.

Genghis Khan was not born a genius. Instead, as one biogra­pher put it, his was “a persistent cycle of pragmatic learning, experimental adaptation, and constant revision driven by his uniquely disciplined and focused will.” He was the greatest conqueror the world ever knew because he was more open to learning than any other conqueror has ever been.

Khan’s first powerful victories came from the reorganization of his military units, splitting his soldiers into groups of ten. This he stole from neighboring Turkic tribes, and unknowingly converted the Mongols to the decimal system.

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Soon enough, their expanding empire brought them into contact with another “technology” they’d never experienced before: walled cities. In the Tangut raids, Khan first learned the ins and outs of war against fortified cities and the strategies critical to laying siege, and quickly became an expert. Later, with help from Chinese engineers, he taught his soldiers how to build siege machines that could knock down city walls. In his campaigns against the Jurchen, Khan learned the importance of winning hearts and minds. By working with the scholars and royal family of the lands he conquered, Khan was able to hold on to and man­age these territories in ways that most empires could not.

Afterward, in every country or city he held, Khan would call for the smartest astrologers, scribes, doctors, thinkers, and advisers — anyone who could aid his troops and their efforts. His troops traveled with interrogators and translators for precisely this purpose.

It was a habit that would survive his death. While the Mongols themselves seemed dedicated almost solely to the art of war, they put to good use every craftsman, merchant, scholar, entertainer, cook, and skilled worker they came in contact with. The Mongol Empire was remarkable for its reli­gious freedoms, and most of all, for its love of ideas and con­vergence of cultures. It brought lemons to China for the first time, and Chinese noodles to the West. It spread Persian carpets, German mining technology, French metalworking, and Islam. The cannon, which revolutionized warfare, was said to be the resulting fusion of Chinese gunpowder, Mus­lim flamethrowers, and European metalwork. It was Mongol openness to learning and new ideas that brought them together.

As we first succeed, we will find ourselves in new situations, facing new problems. The freshly promoted soldier must learn the art of politics. The salesman, how to manage. The founder, how to delegate. The writer, how to edit others. The comedian, how to act. The chef turned restaurateur, how to run the other side of the house.

This is not a harmless conceit. The physicist John Wheeler, the physicist who helped develop the hydrogen bomb, once observed that “As our island of knowledge grows, so does the shore of our ignorance.” In other words, each victory and advancement that made Khan smarter also bumped him against new situations he’d never encountered before. It takes a special kind of humility to grasp that you know less, even as you know and grasp more and more. It’s remembering Socrates’ wisdom lay in the fact that he knew that he knew next to nothing.

With accomplishment comes a growing pressure to pre­tend that we know more than we do. To pretend we already know everything. Scientia infla (knowledge puffs up). That’s the worry and the risk — thinking that we’re set and secure, when in reality understanding and mastery is a fluid, con­tinual process.

The nine­-time Grammy– and Pulitzer Prize–winning jazz musician Wynton Marsalis once advised a promising young musician on the mind­set required in the lifelong study of music: “Humility engenders learning because it beats back the arrogance that puts blinders on. It leaves you open for truths to reveal themselves. You don’t stand in your own way. . . . Do you know how you can tell when someone is truly humble? I believe there’s one simple test: because they consistently observe and listen, the humble improve. They don’t assume, ‘I know the way.’” No matter what you’ve done up to this point, you better still be a student. If you’re not still learning, you’re already dying.

It is not enough only to be a student at the beginning. It is a position that one has to assume for life. Learn from everyone and everything. From the people you beat, and the people who beat you, from the people you dislike, even from your supposed enemies. At every step and every juncture in life, there is the opportunity to learn — and even if the lesson is purely remedial, we must not let ego block us from hearing it again.

It’s something I’ve had to learn as an author, personally. Just because one book does well, doesn’t mean that the next one will. It certainly doesn’t mean that everything that I’ll write is good or that I know everything there is to know about this profession either. Thinking that way is a recipe for falling off and disappointing both publishers and audiences. A better attitude is to start from scratch with each project — to focus on all there is left to learn and all the room we have left to improve. That’s what I’ve tried to do with each subsequent project, including this most recent one (appropriately about ego).

Too often, convinced of our own intelligence or success, we stay in a comfort zone that ensures that we never feel stupid (and are never challenged to learn or reconsider what we know). It obscures from view various weaknesses in our understanding until eventually, it’s too late to change course. This is where the silent toll is taken.

Each of us faces a threat as we pursue our craft. Like sirens on the rocks, ego sings a soothing, validating song — which can lead to a wreck. The second we let the ego tell us we have graduated, learning grinds to a halt. That’s why UFC champion and MMA pioneer Frank Shamrock said, “Always stay a student.” As in, it never ends.

The solution is as straightforward as it is initially uncom­fortable: Pick up a book on a topic you know next to noth­ing about. Put yourself in rooms where you’re the least knowledgeable person. That uncomfortable feeling, that defensiveness that you feel when your most deeply held assumptions are challenged — what about subjecting your­self to it deliberately? Change your mind. Change your sur­roundings.

An amateur is defensive. The professional finds learning (and even, occasionally, being shown up) to be enjoyable; they like being challenged and humbled and engage in education as an ongoing and endless process.

Most military cultures — and people in general — seek to impose values and control over what they encounter. What made the Mongols different was their ability to weigh each situation objectively, and if need be, swap out previous prac­tices for new ones. All great businesses start this way, but then something happens. Take the theory of disruption, which posits that at some point in time, every industry will be dis­rupted by some trend or innovation that, despite all the resources in the world, the incumbent interests will be incapable of responding to. Why is this? Why can’t businesses change and adapt? A large part of it is because they lost the ability to learn. They stopped being students. The second this happens to you, your knowledge becomes fragile.

The great manager and business thinker Peter Drucker says that it’s not enough simply to want to learn. As people progress, they must also understand how they learn and then set up processes to facilitate this continual education.

Oth­erwise, we are selling ourselves — and our careers — dreadfully short.

This piece is adapted from Ryan Holiday’s book Ego is the Enemy, published by Penguin Portfolio

About the Author: Ryan Holiday is the best-selling author of Ego is the Enemy and three other books. He is an editor-at-large for the Observer, and his monthly reading recommendations which go out to 50,000+ subscribers are found here. He currently lives in Austin, Texas.