Tips for a Fearless Career- Part I

Fear can be crippling in any area of life, and it often has a negative impact on a person’s career. Colleen Oakley of LearnVest recently consulted with several successful entrepreneurs to compile a list of advice for the professionally timid:

  • Let others challenge you. Marc Sampogna, CEO and Founder of Canopy Brand Group, explains: “You should surround yourself with people who are smarter than you. If you partner with those who can elicit a debate and shed new light on things that you may never have thought of, it will make your idea, product or service that much stronger.”
  • Ask for help. “I really hate the ‘I did it all by myself’ style of business stories,” says Troy Hazard, author of Future-Proofing Your Business. “Everyone either needs help- or has had help at some stage from someone. Years ago, I used to think that I was the epicenter of my success. It wasn’t until my business almost wasn’t a success that I realized I needed assistance from others. That’s when I learned that there’s no such thing as self-made. Not only is it important to have your own vision, but it’s equally important to understand the vision of those around you.”
  • Take risks. Ultimate Lifestyle Enterprises’ Stacia Pierce says: “It may sound counterintuitive, but you can spend years analyzing every detail of your business plan and never pull the trigger. When intuition tells you that you have a winning idea- even if you don’t know every single detail- just get going on implementing it! When my daughter, Ariana, and I launched Superstar Nail Lacquer, I had no idea how to manufacture and package the product. But I still started the business, figuring it out along the way- and it all came together quickly. In the past, I have missed out on some very big opportunities while waiting for the perfect conditions…  but not anymore.”

Arizona Passes Bill to Make Precious Metals Legal Tender

In a move that will have a significant impact on precious metal dealers like AMPEX, reviews of the recent Arizona vote reveal that gold and silver may become legal currency in the state.

Approved by the state House early this month, the legislation cleared the Senate by an 18-10 vote. The motion will now be passed to Republican Governor Jan Brewer. If she signs it, gold and silver coins as well as bullion will become legal tender at some point in 2014.

A similar bill was approved in Utah in 2011. According to the National Conference of State Legislatures, over twelve states have considered the approach over the past several years. If passed, Arizona businesses will be able to accept the precious metals as payment, if desired. The currency change will be strictly voluntary.

Chester Crandell, State Senator, explained that the change remains a “work in progress.”

“This is the first step in getting it into the statute so we can build on it,” he said.

If the bill is passed, the market for precious metals will certainly change, having a major influence on metal dealers. APMEX reviews the fluctuations in price and demand, as do many other leading companies, and the global monetary system will likely shift as economies continue to struggle.

Keith Weiner, president of the Gold Standard Institute, explained:

“The dollar system and all of the other derivative currencies, including the euro, are a recipe for worldwide bankruptcy.” He added that in order to obtain stability, the economy needs a “sound and honest money system such as gold and silver.”

ShopKeep POS, an iPad Point of Sales

ShopKeep, an iPad POS point of sale system, was developed by business owner Jason Richelson to suit the needs of those standing “behind the counter.”

The ShopKeep system helps retailers simplify sales by allowing users to add items, select a payment method, add a gratuity and complete the transaction by tapping on an iPad.

Reuters reports further:

 

 

 

Highland Capital Donates $1M to Reasoning Mind

Highland Capital Management, an investment management firm with Co-Founder and President Jim Dondero, recently donated $1 million to Reasoning Mind. The non-profit program works to improve mathematical education throughout the United States.

Founded in 2000, Reasoning Mind works to deliver a coherent, online math curriculum to students, as well as teacher training and in-person support. Half of Highland’s donation will go toward developing the program’s seventh grade curriculum, while the other half will be used to expand the program in North Texas.

According to Reasoning Mind’s senior vice president of national expansion Andrea Foggy-Paxton, “Analysis of the 2011-12 school year showed that second-grade DISD students using the program fo 70 hours of more over the course of the year grew by 1.6 grade levels in math performance as measured by the Iowa Test of Basic Skills- growth equivalent to five additional months of instruction. The DISD plans to expand the Reasoning Mind program to a large number of fourth-grade classes in the 2013-14 school year.”

Foggy-Paxton added “Last year, one DISD second-grade student spent over 162 hours on the program, including many over evenings and weekends. Despite being an at-risk English language learner who finished first grade slightly below grade level, this student was able to raise his ITBS math score to a 4.3, an increase of 2.5 grade levels in a single year.”

5 Tried-and-True Tips from Amazon Founder Jeff Bezos

Jeff Bezos, the founder of Amazon, has shared numerous tips throughout the two decades of his business. What originally began as an online bookstore has become an entrepreneurial empire thanks to hard work, creative ideas, and high standards.

John Greathouse, a contributor to Forbes Magazine, listed 5 success tips from Bezos:

  • Establish a High Hiring Bar- You’re Creating an Enduring Culture

“I’d rather interview 50 people and not hire anyone than hire the wrong person.”

“Cultures aren’t so much planned as they evolve from that early set of people.”

  • Combine stubbornness and flexibility

“We are stubborn on vision. We are flexible on details… We don’t give up on things easily. Our third-party seller business is an example of that. It took us three tries to get the third-party seller business to work. We didn’t give up.”

“If you’re not stubborn, you’ll give up on experiments too soon. And if you’re not flexible you’ll pound your head against the wall and won’t see a different solution to a problem you’re trying to solve.”

  • Focus on Customer Experiences (Not Colleagues’)

“We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.”

“There are multiple ways to be externally focused that are very successful. You can be customer-focused or competitor-focused. Some people are internally focused, and it they reach critical mass, they can tip the whole company.”

  • Pitch the Organizational Chart

“The great thing about fact-based decisions is that they overrule the hierarchy. The most junior person in the company can win an argument with the most senior person with regard to a fact-based decision. For intuitive decisions, on the other hand, you have to rely on experienced executives who’ve honed their instincts.”

  • (Know When To) Throw Away the Rule Book

“Every well-intentioned, high-judgment person we asked told us not to do it. We got some good advice, we ignored it, and it was a mistake. But that mistake turned out to be one of the best things that happened to the company.”

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