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10 Traits That Young Millionaires Have in Common

10 Traits That Young Millionaires Have in Common

The world’s idea of who and what a millionaire is has changed. When we conjure up an image of a very wealthy person, we are imagining less and less a stodgy old man sipping branding in a wing back armchair, and instead, more and more what we envision is a young, energetic entrepreneur.  The internet has paved the way for anyone with a good idea and the ambition to see it through to become rich and it is increasingly common for the successful people among us to be young and driven. So what do the young millionaires we are getting so used to seeing have in common? They all share the following 10 traits.

1. They Act Fast

A sense of urgency lies at the heart of any young millionaire. It isn’t enough to have a great idea, you need to have the will to act on it before anyone else has a chance. If Mark Zuckerberg had decided to sit on Facebook and develop it slowly over a few years instead of a few months, he would have been left in the dust. Instead he put his idea into action almost as soon as he formed it and the result has been massive success.

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2. They Build Strong Teams

Even the people who seem to have built their empires on their own have had the help of a good team. It is usually the case that they built that team themselves. When Steve Jobs founded Apple he wasn’t alone, his partners gave him insight into the things he didn’t understand and allowed him to grow the business in all directions at once.

3. They Leverage Their Success

Success breeds success and young millionaires aren’t afraid to keep the ball rolling. When they see a good idea, they jump on it. It is no coincidence that Google now owns Youtube and countless other web applications that we can’t imagine the world without. The leaders of forward-thinking companies aren’t afraid to go beyond their own comfort zone and use the money they have to generate more money.

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4. They Are Independent Thinkers

Founder and CEO of Alibaba, Jack Ma, held a meeting when he decided to start his company. He invited nearly two dozen friends to his home and asked them what they thought of his idea. All but one told him not to quit his day job. He chose to ignore them and pursue it anyway. He is now a billionaire. Not being afraid to stand alone is a common trait among the young and self-made wealthy.

5. They Think Big

Young millionaires dare to dream big. They see the possibilities that lie behind great ideas and aren’t overwhelmed by the scale of what they are chasing. The truly successful individuals take things one step at a time and work at what they can handle, but their eye is always on the larger goal.

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6. They Follow Their Passion

Most people who achieve success early in life do it by following a path they care about and are interested in. Just because an idea is good, doesn’t mean it is inspiring. When Steve Jobs was trying to convince John Sculley to leave his comfortable job at Pepsi to come take over the business side of Apple, his sales pitch was “Do you want to spend the rest of your life selling sugar water, or do you want to come with me to change the world?” That is passion incarnate.

7. They Are Focused

When asked what makes Mark Zuckerberg such a great leader, Facebook employees time and time again reference his focus. Mark Zuckerberg’s goal is to connect the world in ways no one else has ever dared to imagine, and every decision he makes is unflinchingly taking him closer to that goal. Having a clear vision is a key to success for any young leader.

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8. They Love Learning

Just because they are rich doesn’t mean they think they have all the answers. Young millionaires in every field share a lifelong love of learning. They hold open meetings where they can get advice from people at every level of the organization because they understand that you never know where the next great idea will come from.

9. They Love Teaching

The best way to get better at what you do is to teach the tricks of the trade to someone else. Successful young people share their vision and teach their team members what they need to do to succeed. It not only makes everyone smarter, it builds camaraderie and gets everyone on the same page.

10. They Aren’t Afraid to Fail

Finally, and most importantly, young millionaires aren’t afraid to fail. Bill Gates once said, “It’s fine to celebrate success but it is more important to heed the lessons of failure.” Keeping an open mind and being willing to learn from your mistakes is the only way to keep moving forward.

Featured photo credit: Robert Scoble via flickr.com

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Last Updated on November 5, 2019

5 Learning Management Systems (LMS) for Effective Learning

5 Learning Management Systems (LMS) for Effective Learning

Businesses rely on talent to generate and sell value. Without skilled people to create its products, manage its operations and execute its strategies, a business would inevitably fizzle out of the game and leave better-staffed competitors to take the field.

This is the reason why ambitious companies go great lengths to attract top talent,[1] shelling out millions of dollars in the process and bending traditional work policies just to bring highly skilled but demanding candidates into the fold.

Clearly, the contours of business are changing. But so are the demographics of work.

Millennials have become the dominant generation in the job market in terms of population, and some have already transitioned into leadership roles. Most millennials consider opportunity to learn and grow more important than overall compensation.[2]

Companies also today expect employees to come equipped with razor sharp business acumen.[3] Unfortunately, there is an alarming discrepancy between the actual skills businesses need and those currently possessed by job candidates.

To stay in the game, employers need to continually upgrade their training and skills development strategies to cover the entire employee lifecycle.

What are Learning Management Systems (LMS)?

Learning management systems are software-based solutions for authoring, presenting, consuming, storing, and tracking educational content and training materials. These systems aim to centralize all instructional content (e.g., lessons, training modules, instructional videos, presentation slides, worksheets, online quizzes, ebooks, takeaway notes, etc.) in one place.

LMS enable instructors to design and deliver learning experiences to students, with the added capability of evaluating the effectiveness of the instructional materials and grading the learning progress of students.

On the other side of the equation, learners use LMS to develop skills and acquire new knowledge virtually anytime and anywhere via the different channels and content formats made possible by digital technology.

Over the years, a wide range of features and technologies have been integrated into learning management systems to help enhance the experience of training designers, instructors, and learners. These include cloud and mobile technology, artificial intelligence, responsive design, scheduling, gamification, data analytics, and interoperability with other applications.

5 Best All-Purpose Learning Management Systems

There are dozens of LMS vendors catering to the general market or to specific segments such as K-12 learning, higher education, and corporate training.

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With so many options available, selecting the right LMS solution for your needs can be complicated and costly, especially when you end up adopting a platform that doesn’t exactly match your goals or requirements.

Short of conducting a comprehensive audit of your needs and finalizing a learning roadmap, the safest bet would be to adopt full-featured but affordable LMS solutions.

Based on user reviews, here are the 5 best LMS to help people gain knowledge, build skills, and achieve mastery:

1. Canvas Network

Launched by Instructure as an open source software in 2011, Canvas is an end-to-end cloud-based service originally engineered for the education sector.

Widely adopted for K-12 and Higher Ed learning, Canvas can be repurposed for anything that involves an instructor, a subject matter, and a student.

Used around the world by people of all ages and organizations of all types, Canvas arguably has the largest learning and support community in its class. It works on desktop computers, tablets and mobile phones.

To get a glimpse of the platform’s fresh interfaces, you can visit the Canvas Network, a learning community that provides educational and instructional materials created by colleges, universities, corporate businesses, independent course developers, and other knowledge-sharing entities around the world.

Hosting hundreds of interesting topics from data science to horticulture, the learning network also serves as evidence to the scope, capabilities, and popularity of the Canvas LMS platform.

Canvas is hosted on Amazon Web Services (AWS) infrastructure, which enhances the platform’s reliability, speed, scalability, and overall online performance.

Additionally, platform adopters enjoy a low-risk environment since cloud-based solutions require no hard stops for version updates, upgrades, or system migrations.

The Canvas website does not show a price matrix but says the service adopts a simple formula for computing fees: a one-time implementation fee and an annual subscription fee based on total number of users. It also promises free basic services for teachers who want to use the platform.

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In addition to Canvas, Instructure also offers Bridge (an LMS designed for corporate environments), Arc (a video platform for online learning), and Gauge (an assessment management system).

Check out this video if you want to learn more about Canvas Network:

2. Google Classroom

This free service from Google aims to improve the teaching and learning process using cloud technology, web apps, workflow simplification, and seamless communication between students and instructors.

Using Classroom, educators can easily create and schedule classes, distribute assignments, send feedback, and grade quizzes all in one place. By streamlining processes, Classroom helps teachers save time and organize classes more effectively. Both students and teachers can also work using any device anytime and anywhere.

Classroom works perfectly with other Google tools, having been launched initially as part of Google’s G Suite for Education. This LMS solution taps Google Drive for content storage and distribution, as well as Google Docs, Sheets, and Slides for the creation and sharing of instructional materials. Meanwhile it integrates Google Calendar for scheduling and Gmail for communication.

With G Suite, other communication channels such as chat messaging, video conferencing, and a dedicated website are enabled.

Easy to set up and manage, Google Classroom is free to use. One of my very first courses was actually hosted on Google Classroom.

Going beyond the classroom environment, Google offers G Suite Enterprise for Education for large institutions. This suite provides enhanced search and analytics capabilities as well as advanced tools for enterprise communications.

3. Moodle (Modular Object-Oriented Dynamic Learning Environment)

If budget and capability equally top your list of LMS adoption criteria, then Moodle might just fit the bill. Which is to say there’s none (i.e., bill).

Moodle is a free and open-source learning solution for distance education, workplace training, flipped classrooms, and other pedagogical environments.

It is also a full-featured LMS supported by a robust community and a thriving developer ecosystem. Not surprisingly, Moodle is used in more than 15 million courses by more than 130 million users in 230+ countries.

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Among other things, Moodle enables administrators and educators to create a dynamic and dedicated website to host organic, easily accessible, and highly customizable courses that can be experienced on desktops and mobile devices anytime and anywhere.

Moodle provides a personalized and intuitive dashboard as well as a host of collaboration tools for content designers, teachers, and learners. A universal calendar, an efficient file management system, an automatic notification system, multimedia integration, and a progress tracking tool all come with the package.

Check out this video if you want to learn more about Moodle:

4. Absorb

This platform recently bagged PC Magazine’s Editors’ Choice Award for Best LMS.

Co-designed and built by former course authors, Absorb takes learning experience to the next level. This turnkey LMS solution is responsive, full-featured, and highly customizable for maximum impact.

Course developers can orchestrate a wide range of experiences depending on audience or learning situation. In addition to surveys, polls, and e-commerce integration, Absorb supports formal online learning and certifications standards such as AICC, SCORM, and Tin Can.

The user interface can also be modified to match the learner’s location, group, or department, allowing for a different look and feel for customers, channel partners, management trainees, and newly hired employees.

Absorb supports all personal computing devices from desktops to mobile phones. There are also native or hybrid apps for iOS and Android.

The only possible drawback to the platform’s powerful feature set is its pricing. The service reportedly implements a flat, one-time setup fee depending on your business and training requirements. According to the site, any plan comes with a dedicated success team for your account.

Although small companies are welcome to try, midsize to enterprise-scale organizations are probably the best segment to readily adopt this LMS solution.

Take a look at some examples of Absorb in this video:

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5. Watershed Collaborative

Created by a group of educators, this nonprofit rethinks the priorities of an LMS, asserting that too many systems miss the most essential elements of what makes learning stick. They promise a better user experience – emphasizing Learning before Management and System.

Watershed aims to support an inquiry-based learning experience through an integrated mix of online and in-person learning strategies and interactions designed expressly for teams – including collaboration, reflection, and dialogue.

While Watershed was founded initially to serve the K-12 education market, the company has since expanded its scope to cater to all types of teachers and learners with its video-rich, state-of-the-art platform.

If you’re a mission-driven educator, content creator, institution, or business, this LMS may be the one for you.

Watershed specializes in assisting you with the instructional design of courses and provides content production services to ensure top-quality video assets with lasting value. Their LMS makes it easy for course creators to continuously update and tailor content to support small and large groups, while ensuring the technology and instructional strategy supports communities of learners.

Pricing varies based on products and services, but revenues support the nonprofit’s ability to make its platform and courses available at little or no cost for high-need educators and educational settings.

Honorable Mentions

There are dozens of LMS vendors in this growing market and the brands included in foregoing list are by no means the only viable options for companies or learning institutions looking to upgrade their learning infrastructure.

Many other excellent services are worth checking out. These include:

  1. Docebo is an LMS designed for hyper-engaging students, employees, customers, and other learners. The system helps organizations identify and resolve competency gaps with strategic learning interventions.
  2. Cornerstone OnDemand is a talent, training, and performance management solution offered as an SaaS (Software-as-a-Service). This service enables learners to create personalized playlists of instructional content.
  3. Lessonly is an LMS solution that makes it easier to recall and reinforce whatever skills or knowledge you have learned through quizzes, coaching, and constant practice.
  4. Skillsoft is an online training and corporate learning platform developed by a two-decade old and billion-dollar company with the same name.
  5. D2L BrightSpace is a learning management system that has all the basics for delivering excellent, rich-media experiences for classroom or workplace training.

Conclusion

There are many ways to learn but some are more effective and meaningful than others. Whether you are a teacher looking to enhance classroom learning or an HR manager creating a long-term talent development plan for employees, the key to impactful learning is to understand and bridge the needs of learners, the goals of your institution, and the actual capabilities of the learning tools you are considering.

Note that using multiple LMS platforms is possible although not recommended. On the other hand, adopting other learning solutions beyond LMS (such as podcasts, mentoring, and onsite in-person workshops) may significantly improve learning outcomes. Always go for products and plugins that seamlessly integrate into your core LMS tool.

Featured photo credit: Unsplash via unsplash.com

Reference

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