Business

Business (10)

In the age of globalization, employees in multinational firms will sometimes be required to relocate to foreign countries. It is not only critical that these employees understand the culture of the country within which they operate, but the corporation must understand that culture plays a critical role in determining success in that marketplace.

Much of what is reported on the news about globalization has been the negative aspects. What we are seeing today, particularly with manufacturing jobs being moved overseas, has its foundation in the trade theories espoused by economists several years ago.

Your actions determine your future. When you have lofty goals and aspirations, without an action plan and subsequent actions to accomplish them, they are merely dreams. Each step you take in the present determines what will happen in the future. Think of your goals like a bank account. Each action, regardless how small, is a deposit into that account. An accumulation of these ‘deposits’ takes you closer to your goal. At the end of each day, make an honest assessment about your accomplishments, and determine whether the actions take you closer to accomplishing your goals. If they do, great! If not, don’t be discouraged. It is important to persevere...just keep trying.

 

Onwards and Upwards!

 

 

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When it comes to investing, we must never let our emotions get in the way of making sound decisions. Don’t fall in love with the house so much that you fail to do due diligence or that you assess the deal through rose colored lenses. When this happens we end up learning the hard way. Emotions sometimes affect our choice in people with whom to have relationships, the products we purchase at a grocery store, an automobile purchase and more. Too often emotional decisions result in the wrong choice being made.

I find that I have been getting distracted too often. Each day I have a list of things to do and at the end of the day find that I have only completed 30% of the tasks. It is no wonder I have accomplished far less than I am capable of doing. I find myself being distracted…spending significantly more time than necessary on social media. How many times do I hit the refresh button only to realize not much has changed in the past 5 minutes?! I do the same on the news and sports websites.

It is easy to look at athletes, actors, musicians, and think “If I had their abilities I would be rich too”. The truth is that we can’t all be actors, athletes or musicians, but each of us has an ability that, if used effectively, will enable us to become financially independent.  I am reminded of a quotation by legendary UCLA men’s basketball coach John Wooden: "Ability is a poor man's wealth."

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It is funny how we always have a reason why we are not successful. “I have no money”, “I don’t have the right connections”, “The time wasn’t right”, and the list goes on! When you think about it, the reasons are often plausible and logical, but do not get you closer to being successful.

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I am a sports fan and admire coaches’ ability to guide their teams to success. Quite often teams perform under difficult circumstances and coaches are tasked with challenging players to rise above the challenges to be victorious. John Wooden, former UCLA head basketball coach for the men’s team, is one of my favorite coaches. He guided the team as they achieved success, including an unprecedented 10th national title during his tenure from 1048 – 1975. With an overall record of 664 wins and 162 losses, his teams won 80.4% of the games they played.

 

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How many times do we have an idea or a dream and not pursue it because we are afraid of failing? There are so many uncertainties and because of fear of the unknown, we become crippled with fear.

 

The basketball player misses 100% of the shots he/she does not take, the quarterback misses 100% of touchdown passes he does not throw, and even the most successful entrepreneur fails at all of the business ideas he/she does not pursue.

 

We should not be so overcome with fear of failure that it renders us incapable of pursuing our ideas. If you have an idea, put the necessary plans in place and execute faithfully. Michael Jordan, one of the best to ever play in the NBA says the following:

 

I've missed more than 9000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed.

 

Whenever we fail, we must learn from the experience, make the necessary corrections and keep on pursuing our goal.

 

Onwards and Upwards!

 

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How many times have we established a goal, worked tirelessly to achieve it, only to quit before achieving the goal? Too often we become impatient, and give up on achieving the goal when we believe success is not coming fast enough.


I love the following quote by Thomas Edison:
 “Many of life’s failures are people who did not realize how close they were to success when they gave up”


I have learnt that success requires dedication and perseverance. When someone we have not previously heard about becomes suddenly successful, it is easy to assume he or she is an overnight success, and that they got a lucky break. What we did not see is the years of planning, preparation, and dedication that individual endured before being successful.

If you are tempted to quit, remember that you are one step closer to success. There may be bumps along the way, but if you stumble, get up, dust it off, and continue working towards your goal. Success is closer than you think!


Onwards and Upwards!

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