This week’s top reads are all about staying in the game – with your finances and in your career.
In the personal finance section: Tony Isola talks about the importance of staying in your investing lane after a recent market drop, Ben Carlson uses a basketball analogy to help you stay on your financial game, and Michael Kay shares three big money mistakes you should be avoiding to achieve your financial goals.
In the personal interest section: Art Markman shares how encouraging a colleague can help your own productivity, John Rampton has eight tips for making employees feel like part of a great team, and Aytekin Tank shares why he spent 12 years growing his business slowly among hypergrowth startups.
“Investing is harder when we swerve out of our lane and into oncoming speculative traffic,” says
Tony Isola in this article after a recent drop in the market. Isola discusses the importance of knowing your limits, keeping your emotions in check and the dangers of what can happen to your portfolio when you decide to invest in unfamiliar territory.
The media magnifies get rich quick schemes to give an appearance of authenticity and uniqueness. Resisting this urge is difficult. If you lack a level-headed financial advisor to curb your enthusiasm, ask yourself this question. “Can I afford to lose all the money I decide to put into this venture?”
To read the full article, littered with brilliant quotes, click here.
How to Stay in the Game
If you’re a basketball fan, you may recall The JR Smith game. Following this game, in an interview with Kobe Bryant, he discusses how he avoided taking charges to ensure his body allowed him to fulfill a long career.
Some might assume Bryant was making a mistake with this tactic because, in essence, he was limiting his options defensively.
Most of the time doing what’s necessary to stay in the game requires accepting minor setbacks to avoid major ones.
Ben Carlson says this analogy works with many things – from bloggers to portfolio managers who end up having to shut down their websites and close their doors. Why? Because staying in any game for a long period of time is hard. Keeping with Bryant’s avoidance of charges, Carlson has come up with four ways to stay in the financial game. Click here to read more.
In this article, Michael Kay shares three money mistakes that, if not corrected, could cause a catastrophic compounding effect, preventing you from accomplishing your money goals. Those three mistakes: not taking ownership of your financial life, not asking for help, and ignoring life transitions. To avoid these mistakes, read Kay’s article here.
Do you have a colleague at work who seems to be struggling? Art Markman says that by encouraging our colleagues to get back in the game, we can actually help to increase our own productivity. If you’re not sure where to start to help your colleague, Markman shares three tips you can use to help inspire them again, without trying so hard that you end up burning yourself out. His tips include catching up with your colleague over coffee to discuss what’s going on, validating how hard it can be to maintain productivity at work, and helping them to plan for the future. For an in depth look at Markman’s three tips, click here.
Employee turnover rates can be high when staff are motivated by pay only. In this article, John Rampton shares how making your employees feel like part of a team can create an inclusive environment that encourages them to thrive.
No successful entrepreneur has built a solid foundation with a team of people who feel invisible. Ensuring that employees don’t feel overlooked, ignored or left out can propel not only your company’s internal success, but its external success, too.
Use Rampton’s eight tips from this article to start building a better team today.
Hypergrowth startups can be exciting to follow, says Aytekin Tank, but there is another kind of winning within a new business that Tank describes as playing the long game. As a business owner who avoids taking risks, Tank says the only people he feels the need to impress are his staff and his customers, and he believes that success is worth waiting for. In this article, he shares how he started slowly and 12 years later, his company JotForm has 3.5 million users and over 100 staff members. Tank believes that these past 12 years have taught him fundamental lessons which you can read about here.