19 Hard Things You Need To Do To Be Successful

19 Hard Things You Need To Do To Be Successful

DAN WALDSCHMIDTEDGY CONVERSATIONS

JAN. 14, 2014, 11:44 AM 48,437 5

You have to do the hard things.

You have to make the call you’re afraid to make.

You have to get up earlier than you want to get up.

You have to give more than get in return right away.

You have to care more about others than they care about you.

You have to fight when you are already injured, bloody, and sore.

You have to feel unsure and insecure when playing if safe seems smarter.

You have to lead when no one else is following you yet.

You have to invest in yourself even though no one else is.

You have to look like a fool while you’re looking for answers you don’t have.

You have to grind out the details when it’s easier to shrug them off.

You have to deliver results when making excuses is an option.

You have to search for your own explanations even when you’re told to accept the “facts.”

You have to make mistakes and look like an idiot.

You have to try and fail and try again.

You have to run faster even though you’re out of breath.

You have to be kind to people who have been cruel to you.

You have to meet deadlines that are unreasonable and deliver results that are unparalleled.

You have to be accountable for your actions even when things go wrong.

You have to keep moving towards where you want to be no matter what’s in front of you.

You have to do the hard things. The things that no one else is doing. The things that scare you. The things that make you wonder how much longer you can hold on.

Those are the things that define you. Those are the things that make the difference between living a life of mediocrity or outrageous success.

The hard things are the easiest things to avoid. To excuse away. To pretend like they don’t apply to you.

The simple truth about how ordinary people accomplish outrageous feats of success is that they do the hard things that smarter, wealthier, more qualified people don’t have the courage — or desperation — to do.

Do the hard things. You might be surprised at how amazing you really are.

What’s Your $1 Billion Idea?

What’s Your $1 Billion Idea?

by Doug Sundheim  |   1:00 PM January 13, 2014

Anyone would be inspired by the story of Nick Woodman, the CEO of GoPro, a $2.5B company that makes wearable HD video cameras.  The highlights:

In the late 1990’s/early 2000’s, Woodman blows $4M of VC money on a failed venture called funBugs.com, an ultimately ill-conceived loyalty, sweepstakes, and entertainment website.  In 2002, unsure of what to do with his life, he takes off to surf in Indonesia and Australia.  He wants to capture live-action shots from his surfboard.  The only cost-effective way to do this is by strapping a disposable camera to his wrist with rubber bands.  Not surprisingly, it doesn’t work well. Read more of this post

The daily rituals of business builders; In my experience, very few successful founders are late risers

January 14, 2014 3:28 pm

The daily rituals of business builders

By Luke Johnson

In my experience, very few successful founders are late risers

We cannot replicate the minds of geniuses: but we can know and perhaps copy their working habits. This is the premise of a fascinating little book called Daily Rituals, by Mason Currey. He examines the schedules of artists, philosophers, writers and composers. But what about entrepreneurs, inventors and tycoons? What are theirdaily rituals? Read more of this post

Investment secrets of billionaire David Hains

Investment secrets of billionaire David Hains

Published 06 January 2014 10:32, Updated 06 January 2014 12:20

Jonathan Shapiro

David Hains founder of Portland House investment business James Davies

At the far northern end of Melbourne’s ­Collins Street, nestled between an optometrist and a quaint stained-glass coffee shop, is a large wooden door fronted by two ­columns, lanterns and a metal crest. Read more of this post

Employees Who Feel Love Perform Better

Employees Who Feel Love Perform Better

by Sigal Barsade and Olivia (Mandy) O’Neill  |   11:00 AM January 13, 2014

“Love” is a not word you often hear uttered in office hallways or conference rooms. And yet, it has a strong influence on workplace outcomes. The more love co-workers feel at work, the more engaged they are. (Note: Here we’re talking about “companionate love” which is far less intense than romantic love. Companionate love is based on warmth, affection, and connection rather than passion). It may not be surprising that those who perceive greater affection and caring from their colleagues perform better, but few managers focus on building an emotional culture. That’s a mistake. could nothing if Hu did, the CRO

Read more of this post

Entrepreneur pens Chinese business savvy book

Entrepreneur pens Chinese business savvy book
Tuesday, January 14, 2014
By Chen Yingqun, China Daily/Asia News Network

BEIJING–Ambitious Chinese youngsters have long sought to learn from Western economic theories and best practice, so why don’t they tap into wisdom closer to home? Read more of this post

Finding Your Network Advantage; Companies have access to untapped value in their partnership networks, but many miss out on the available opportunities

Finding Your Network Advantage

Jan 13, 2014

Companies have access to untapped value in their partnership networks, but many miss out on the available opportunities

The decline in the fortunes of BlackBerry, the once touted leader in smartphones, could be blamed on many factors; its slow speed to market with new products, its innovation strategy or its niche markets. But one failure that particularly stands out is its lack of a strong alliance network. Read more of this post

Scientists, writers and other deep thinkers ponder a big question: What scientific idea is ready for retirement? (Hint: Watch yourselves, infinity and the universe.)

Over the Side With Old Scientific Tenets

JAN. 14, 2014

Here are some concepts you might consider tossing out with the Christmas wrappings as you get started on the new year: human nature, cause and effect, the theory of everything, free will and evidence-based medicine. Read more of this post

Why leadership-development programs fail; Sidestepping four common mistakes can help companies develop stronger and more capable leaders, save time and money, and boost morale

Why leadership-development programs fail

Sidestepping four common mistakes can help companies develop stronger and more capable leaders, save time and money, and boost morale.

January 2014 | byPierre Gurdjian, Thomas Halbeisen, and Kevin Lane

For years, organizations have lavished time and money on improving the capabilities of managers and on nurturing new leaders. US companies alone spend almost $14 billion annually on leadership development.1 Colleges and universities offer hundreds of degree courses on leadership, and the cost of customized leadership-development offerings from a top business school can reach $150,000 a person. Read more of this post

Chen Guangbiao’s Business Card Needs to Be Recycled; Chen doesn’t appear to have devoted the same sort of effort to technology systems at his own company

Jan 14, 2014

Chen Guangbiao’s Business Card Needs to Be Recycled

By Wei Gu

Recycling tycoon Chen Guangbiao should rethink his now-famous business cardAnd, perhaps, he needs to rethink his use of a business card to begin with.

Read more of this post

The Leadership Revival and The Great Revival

The Leadership Revival

JAN. 13, 2014

David Brooks

If you are in politics or public life, you probably had some moment of spine-tingling transcendence. Maybe you read the Declaration of Independence or watched the Rev. Dr. Martin Luther King Jr.’s mountaintop sermon, or read Nelson Mandela’s 1964 speech from the dock. Read more of this post

Six Steps To Becoming Hyper-Efficient

Six Steps To Becoming Hyper-Efficient

GWEN MORANENTREPRENEUR
JAN. 14, 2014, 9:19 PM 2,961 1

Being on the road for more than 150 days a year has made Joseph Grenny adept at being efficient on the fly. A popular speaker, author and corporate and leadership trainer, he has developed a number of ways to make himself more efficient whether he’s in his Salt Lake City, Utah, office running VitalSmarts, the training company he co-founded, or on the road. Here, he shares six strategies that can make anyone hyper-efficient. Read more of this post

Why Parents Need To Talk To Their Kids About Math

Why Parents Need To Talk To Their Kids About Math

ANNIE MURPHY PAULTHE BRILLIANT BLOG

JAN. 14, 2014, 9:32 AM 350

Many of us feel completely comfortable talking about letters, words and sentences with our children—reading to them at night, helping them decode their own books, noting messages on street signs and billboards. Read more of this post

Nurturing creative minds

Updated: Wednesday January 15, 2014 MYT 3:16:29 PM

Nurturing creative minds

BY DAVINA GOH

IN early 2012, a teacher and spoken-word artist friend of mine, Elaine, approached me to be part of a drama and poetry teaching project. I felt anxious, having zero experience in teaching. However, I had good working experiences with kids before, and I am a dramatic person by nature, and these instilled Elaine with enough good faith to have me on board. Read more of this post

Four Mistakes to Avoid When Predicting Competitors’ Moves

Four Mistakes to Avoid When Predicting Competitors’ Moves

by Leonard Fuld  |   10:00 AM January 13, 2014

Since 1986, Byron Wein, Vice Chairman Blackstone Advisory Partners (part of the Blackstone Group), has been offering 10 predictions for the coming year.  Most years he is about 50 percent correct. But for 2013 he was only about 15 percent on target. Gold did not reach $1,900 an ounce. Iran did not build the Bomb. The S&P did not plunge to under 1800 – in fact, it hit an all-time high. Read more of this post

6 Surprising Leadership Lessons From Climbing Mount Everest

6 Surprising Leadership Lessons From Climbing Mount Everest

JENNA GOUDREAU

56 MINUTES AGO 41

What does it take to stand on the top of the world? Mountaineer Alison Levine, author of new book “On the Edge: The Art of High-Impact Leadership,” knows better than most. The 47-year-old MBA and former Goldman Sachs associate has conquered the highest peak on every continent, skied to both the North and South Poles, and taken on the world’s tallest mountain twice, all with a rare heart condition.  Read more of this post

Australia Warns of Fire Danger as Heatwave Hits

Australia Warns of Fire Danger as Heatwave Hits

By Amy Coopes on 4:45 pm January 14, 2014.

Sydney. Australian authorities warned Tuesday of some of the worst fire danger since a 2009 inferno which killed 173 people, with most of the continent’s southeast sweltering through a major heatwave. Victoria state, where the so-called Black Saturday firestorm flattened entire villages in 2009 and destroyed more than 2,000 homes, was again bracing for extreme fire weather. Read more of this post

Ways to Fall Asleep Faster: Four Methods to Ease Into Bedtime; For some people, the hardest part about getting a good night’s sleep is winding down

Ways to Fall Asleep Faster

Four Methods to Ease Into Bedtime

JENNIFER ALSEVER

Jan. 13, 2014 7:12 p.m. ET

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For some people, the hardest part about getting a good night’s sleep is winding down.

Plenty of products and services promise to help. Americans spent $32.4 billion in 2012 on sleep-related aids—from noise machines to specialty pillows, according to IMS Health, a marketing analytics firm in Parsippany, N.J. And according to an August study from the Centers for Disease Control and Prevention, 8.6 million people in the U.S. reported taking medication for better sleep in the month before. Read more of this post

Four Points Beginner Risk Managers Should Learn from Jeff Holman’s Mistakes in the Discussion of Antifragile

Four Points Beginner Risk Managers Should Learn from Jeff Holman’s Mistakes in the Discussion of AntifragileNassim Nicholas Taleb 

New York University; Université Paris I Panthéon-Sorbonne – Centre d’Economie de la Sorbonne (CES)
December 16, 2013

Abstract: 
Using Jeff Holman’s comments in Quantitative Finance to illustrate 4 critical errors students should learn to avoid: 1) Mistaking tails (4th moment) for volatility (2nd moment), 2) Missing Jensen’s Inequality, 3) Analyzing the hedging wihout the underlying, 4) The necessity of a numeraire in finance.

Francine McKenna on the moral bankruptcy of the audit profession; Canceled: Why I Won’t Be Speaking At Ethics And Compliance Officers Association Annual Conference

Francine McKenna on the moral bankruptcy of the audit profession

Canceled: Why I Won’t Be Speaking At Ethics And Compliance Officers Association Annual Conference

By Francine • Sep 17th, 2013 • Category: The Big 4 And Consulting

I was really looking forward to it. But an “ethics” organization buckled under pressure from sponsors, some of whom are also board members, to rescind their offer to me to speak because I might “insult” or “disparage” one of them from the podium. Read more of this post

Giorgio Armani is studying the possibility of creating a foundation to protect the future of his fashion empire; “I don’t want to leave problems for the people who come after me”

Giorgio Armani is studying the possibility of creating a foundation to protect the future of his fashion empire; “I don’t want to leave problems for the people who come

Giorgio Armani looking at creating foundation

Mon, Jan 13 2014

By Isla Binnie

MILAN (Reuters) – Giorgio Armani is studying the possibility of creating a foundation to protect the future of his fashion empire, the Italian designer and businessman said on Monday. Read more of this post

Ulrich Hartmann, Who Remade German Energy Market, Dies at 75

Ulrich Hartmann, Who Remade German Energy Market, Dies at 75

Ulrich Hartmann, the chief executive officer who shook up the European energy market when he engineered the merger that turned EON SE into Germany’s largest utility, has died. He was 75. Read more of this post

Corporate Disclosure of Material Information: The Evolution—and the Need to Evolve Again

Corporate Disclosure of Material Information: The Evolution—and the Need to Evolve Again

Jean Rogers1, Robert Herz2

Article first published online: 23 DEC 2013

Journal of Applied Corporate Finance

Volume 25Issue 3pages 50–55, Summer 2013

This article by the former chairman of the FASB and the founder and executive director of the new Sustainability Accounting Standards Board (SASB) presents the rationale for and mission of the SASB. As the authors point out, both the Securities and Exchange Commission, which was created in 1934, and the Financial Accounting Standards Board, set up in 1973, emerged during times of low investor confidence to restore trust in the capital markets. And the institutional changes brought about by the creation of both the SEC and the FASB succeeded in eliciting new information for investors and in raising the standards by which such information was reported.

How to Create Value Without Earnings: The Case of Amazon

Josh Tarasoff1, John McCormack2

Article first published online: 23 DEC 2013

Journal of Applied Corporate Finance

Volume 25Issue 3pages 39–43, Summer 2013

Investors and commentators often equate GAAP accounting metrics, especially earnings per share, with financial success. The reality, however, is that there is no simple, linear relationship between GAAP earnings and intrinsic value, which is defined as the present value of expected future cash flows. And adjustments of GAAP metrics, though admittedly subjective, are often required to understand the economic reality of a business.

http://Amazon.com Inc. provides a case study that throws into sharp relief the need to look beyond GAAP in order to analyze underlying fundamentals and value. In this paper, the authors argue that Amazon has done a superb job of building shareholder wealth, all the while reporting low and declining operating and net income margins. The article provides a framework for thinking about Amazon’s underlying profitability that is based on the concept of return on capital in relation to the cost of capital, and shows how that profitability has been masked by GAAP accounting. The authors demonstrate that the company is now investing very large amounts of capital with the expectation of earning rates of return well above its cost of capital. And their analysis suggests that if such investment can continue over the long term, Amazon’s current market value of $140 billion can be readily justified.

But as the authors go on to argue, we now live in a different world, one in which the management of environmental, social, and governance issues is increasingly viewed as critical to the long-run value creation of companies. And because today’s corporate reporting fails to account in a systematic way for material non-financial issues, it’s time once again for the capital markets to evolve. The SASB aims to meet this need by creating sustainability accounting standards for use by public companies in disclosing a minimum set of material sustainability impacts for companies in over 80 different industries. As part of a natural evolution in disclosure, the SASB aims to achieve the same goal the SEC and FASB started with: to protect investors and the public.

Private Equity Boss Has A Message To All Those Interns Whining About How Tired They Are

Private Equity Boss Has A Message To All Those Interns Whining About How Tired They Are

LINETTE LOPEZ

54 MINUTES AGO 335

David Rubenstein, founder of one of the most powerful private equity firms in the world, The Carlyle Group, has a message for all the young people on Wall Street concerned about burning out on long hours. Read more of this post

As Parents Age, Asian-Americans Struggle to Obey a Cultural Code; Asian-Americans are struggling to abide by a strong tradition in which they are commonly expected to care for their parents at home, but few institutions are prepared to help.

As Parents Age, Asian-Americans Struggle to Obey a Cultural Code

By TANZINA VEGAJAN. 14, 2014

SOUDERTON, Pa. — Two thick blankets wrapped in a cloth tie lay near a pillow on the red leather sofa in Phuong Lu’s living room. Doanh Nguyen, Ms. Lu’s 81-year-old mother, had prepared the blankets for a trip she wanted to take. “She’s ready to go to Vietnam,” Ms. Lu said. Read more of this post

Are You Your Employees’ Worst Enemy? Many leaders inadvertently stand in the way of superior performance. Here’s how to avoid the hindrance trap

November 12, 2013 / Winter 2013 / Issue 73

Are You Your Employees’ Worst Enemy?

Many leaders inadvertently stand in the way of superior performance. Here’s how to avoid the hindrance trap. And to check your own performance, take ourinteractive survey.

by Kannan Ramaswamy and William Youngdahl

Do you help bring out the best in your people or do you inadvertently hold them back from superior performance? Complete this assessment to find out. Read more of this post

Why We Buy in a Marked-Up Market; Investors need to overcome the instincts that lead them to buy and sell stocks at precisely the wrong times

Why We Buy in a Marked-Up Market

By CARL RICHARDSJAN. 13, 2014

When dividends are included, 2013 was the fifth consecutive year of positive performance in the stock market (as measured by the annualized Standard & Poor’s 500 return). The stock market is now up more than 200 percent from the bottom of the financial crisis in March 2009. Returns since those dark days have been unbelievable, including the market’s most recent performance in 2013 of around 30 percent. Read more of this post

Winning at investing made simple

Winning at investing made simple

By Pat Regnier   @Money January 10, 2014: 4:25 PM ET

Here are just a few of the ways Wall Street pros try to eke out an edge in the market. You can’t do any of them:

With a subscription to the Bloomberg online news service (price: about $20,000 a year), traders can instantly see anything from the location of oil tankers around the globe to supply-chain maps of a company’s vendors and customers. Read more of this post

Yuan Longping, China’s ‘father of hybrid rice’

Yuan Longping, China’s ‘father of hybrid rice’

Staff Reporter

2014-01-14

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Yuan Longping and his award-winning team at Changshanan Railway Station on Jan. 11, 2014. (Photo/CNS)

A team led by Yuan Longping, China’s “father of hybrid rice,” has won a national award for progress in science and technology for his work on two-line hybrid rice technology, reports our Chinese-language sister paper Want Daily.

The special prize was handed out in Beijing by the National Office for Science and Technology Awards on Jan. 10. The 83-year-old scientist, whose “brand” has been estimated by industry analysts to be worth more than 100 billion yuan (US$16.5 billion), says his wish is to be able to generate 1,000 kilograms of hybrid rice per mu — a Chinese unit of measurement equal to about 666 square meters — by 2015. Read more of this post

Bill Gates: The Emerging World’s Vaccine Pioneers

BILL GATES

The Emerging World’s Vaccine Pioneers

SEATTLE – Vaccines work wonders. They prevent disease from striking, which is better than treating it after the fact. They are also relatively cheap and easy to deliver. Yet millions of children do not get them. This has always been stunning to me. When we started the Gates Foundation 15 years ago, we assumed that all of the obvious steps were already being taken, and that we would have to go after the expensive or unproven solutions. In fact, delivering basic vaccines is still one of our top priorities. Read more of this post

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