<![CDATA[James Themes - Blog]]>Tue, 08 Dec 2015 23:03:13 -0800Weebly<![CDATA[What are some of the habits entrepreneurs have that other people don't?]]>Sun, 26 Jul 2015 03:45:21 GMThttp://jamesct.weebly.com/blog/what-are-some-of-the-habits-entrepreneurs-have-thatother-people-dontMost people spend their money to get the most utility - fun, food, whatever. Entrepreneurs spend their money to make the most money.

This one habit pretty much accounts for everything, and it's a big reason why the rich get richer, and the poor stay poor.
Consider our average lottery winner. Most end up blowing their multi-million earnings in a few years because their mindset is to spend everything they have on the most utility. When most people buy a house, they get the biggest they can afford. If they get a pay rise, they go out and buy a new car. And when that's not enough, they take out credit to buy more stuff.

To the entrepreneur this is madness. All money is a means of making more. As a sophomore Warren Buffett and a friend bought a used pinball machine for $25; within months they had expanded several-fold into a regular income. How many kids think like that?

From this single habit all else follows:

  • Financial restraint. The budding entrepreneur delays their own gratification to maximise return. If you want to see a failed wannabe entrepreneur, look for one who's spending frivolously (my own co-founder famously wanted to buy us both company cars in our first month of business; I declined). Well after they've made a fortune, most self-made wealthy people remain comparatively frugal; their lifestyles may be lavish, but they're almost always spending much less than they earn.
  • Develop skills that compound. Entrepreneurs even think of their own skills as an investment; whatever time they put in should have the greatest possible return. For example: creating software, leading others, spotting future trends. They are typically self-taught, and diligently so. They work to make themselves the type of person who would be wealthy.
  • Own assets that compound. The sweat of your own brow will rarely make you rich. As entrepreneurs soon realise, the most efficient vehicle is generally ownership of a company; your own efforts combine with others. Bill Gates may be a smart kid, but he was never going to earn $50 billion from freelance programming. For this reason smart entrepreneurs hang on to every precious percent of ownership as if it were their last breath.
  • Time and attention conscious. Time and our attention are the only truly finite constraints - incalculably precious and easily squandered. Successful entrepreneurs are absurdly conscious of the fact, and tend to become highly organised, intolerant of inefficiency and laser focused. Many famous figures famously wear the same outfit every day (Zuckerberg, Jobs) claiming that anything else is an unnecessary waste of their attention.
  • Positive realists. To make smart gambles - and that's what becoming rich entails - you need an honest appreciation of odds that few possess. Many of life's truths are uncomfortable, complicated, or counter-intuitive, and it takes real effort to discern otherwise. But in the absence of perfect information, it helps to see the world in a positive light. Pessimists make poor entrepreneurs.

Appeared on Quora ans  By Oliver Emberton 
<![CDATA[What are the most difficult and useful things people have to learn in their 20s?]]>Fri, 24 Jul 2015 04:34:24 GMThttp://jamesct.weebly.com/blog/what-are-the-most-difficult-and-useful-things-people-have-to-learn-in-their-20sHere are some things I really, really wish I knew when I was twenty.

  • Love hurts, but not as much as not loving.
  • The friendships you nurture will have a greater effect on your life than where you work or what you earn.
  • You are not your job. You are not your bankroll. You are not the sum of your possessions.
  • The company does not love you. It has no heart. You are replaceable. Keep your parachute handy.
  • Few decisions will ever shape your future life more than who you choose to marry. To marry well, you must choose well.
  • Love is a commitment.
  • Your passions will grow out of your values. Make early, wise choices to value what (and who) is good, trustworthy, and praiseworthy.
  • Integrity preserved is honor won.
  • Rejoice in your health. It fades fast.
  • Find a passion. Pick a hobby, own it: photography, juggling—whatever. Get your 10K hours of perfect practice in early and change your life.
  • Don’t bother comparing yourself to others—this only leads to heartbreak, anger, and disappointment.
  • Most disappointments arise from unmet expectations. Set realistic expectations for yourself, based on your strengths, then strive to exceed them.
  • Don’t drive others to meet expectations they’ve committed to — lead, inspire, and help them do it.
  • Don’t set expectations for others when they have not or cannot commit to them.
  • Expectations you never communicate and negotiate will rarely be met—except by accident.
  • Don’t complain. Either change your situation, learn to cope, or change perspective.
  • Don’t worry about getting a big salary in your youth: first learn to execute tasks with skill, excellence, and grace.
  • Little stuff matters—even in lowly jobs. The boss notices—and even if not, your peers and colleagues will.
  • Ultimately, privacy is a myth: God sees everything. The cloud records everything. NSA files everything. So, live transparently and don't waste useless energy hiding failures.
  • Don’t look down on others because they don’t have what you didn’t earn: your intellect, your beauty, and your culture of birth are undeserved gifts. Stay humble.
  • Failure is an opportunity: no great man or woman ever achieved significance without great failures. Fail forward.
  • Never withhold an apology when it’s merited. Deliver it quickly, sincerely, and personally—before resentment festers.
  • You don’t need to nurture old guilt when you’re forgiven. But remembering the shame can help you avoid repeats.
  • Mere belief in anything signifies little more than assent: trust and behavior reveal where true convictions lie.
  • The main thing you need to do quickly is to stop doing things quickly. Trade hurry for calm, confidence, and precision.
  • Everybody needs an editor. Everybody. Especially editors.
  • Get your work done first so you can play without guilt. Even better, make work play and the fun never ends!
  • If you want to develop your passion and gift, stop worrying about the things you do poorly. Go with your strengths!
  • Avoid fights. Seriously. Avoid them like a plague: nobody wins in a fight, even if you walk away unscathed. But when a fight picks you, leave everything on the mat and give it your all. Hold nothing back.
  • If you're bored, you’re doing it wrong.
  • The skills that will help your career most are the abilities to assimilate, communicate, and persuade. Keep learning.
  • Nothing in this life—no pain, no agony, no failure—compares to the eternal joy of Heaven. Live in light of eternity.
  • Protect your joy. Nothing is easier to lose by over-thinking, overanalyzing, and second-guessing. On the other hand, always consider the long-term consequences of your choices: stupid decisions made in the moment can rob you of years of joy and happiness.
  • Your purpose in life determines how you frame events. You can maintain your joy in the most dire circumstances if you find meaning for your life. Dig deep.
  • It truly matters what you think about. Think well by reading good books, building good, loving relationships, having good conversation, and imitating great people.

By- Rich Tatum