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Finding Diamonds in Your Past

Finding Diamonds in Your Past

Finding Diamonds in Your Past

    “Been there, done that” has become synonymous with boredom or lack of challenge for some people. For others it is a mini retirement statement. We think it can represent a great place to look for new opportunities.

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    Maybe you or someone you know has made money in one area then gone on to try something a new area and ended up with lousy results. A bit like Michael Jordan once having left the NBA to play baseball.

    Google keeps trying to find other ways to make money besides its simple service of providing text ads that are responsive to search terms input by users. In 2007, contextual ads still generated 99% of the company’s $16.5 billion revenue. Google keeps trying a bunch of other things but most don’t work and those that do don’t become big cash generators. But they keep trying, or at least buying, new things.

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    Most successful business people take an idea that is good in one industry and do it again – often in that same industry. The best ones do it again and again and again. They don’t automatically abandon a successful business and head off in other directions. They might try new things like Google does but they don’t abandon the stuff that is already working.

    The core message here is the value of reflection to find those things in your past that have worked for you. Do them again. But there is a disconnect. Why aren’t we automatically doing this? Why isn’t it as obvious as it seems? We do we often move away from things that are working? At least part of the answer lies in finding new excitement in the “been there, done that.” Here are some reasons for repeating things that have worked for you in the past:

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    1. Tried and true. No need to speculate whether or not it will work for you if it already has.
    2. You have the people. They are excited about the last thing you did and the success that was achieved there.
    3. Relearning is relatively easy. You already have the skills and it is usually much easier to improve upon them than to start from scratch.
    4. You have the pieces. Chances are that if you were to restart a business today that you last operated 5 or 10 years ago, you would quickly be able to put together the technical aspects, marketing materials and begin calling on customers. If you were to write a second book in an area you have already published in, it would be similarly easier.
    5. Credibility. You have a proven track record in the area so don’t need to work as hard on establishing credentials as for the first time.
    6. Visualization. No need to work yourself into a lather establishing what success in the area will look like if you have already been there.
    7. The test of time. If your past business was for manufacturing a plastic product used in exterior applications, it would be nice to be able to point out examples to show the product didn’t shrivel up or turn to dust. For something less technical like say a past workout or diet program that kept you in great shape, there are likely others around who were on it with great results.
    8. You know the downsides. Being able to avoid the pitfalls and knowing where the risks are from your past experience makes it easier to move forward on solid ground.

    The Coca-Cola Company is a great example of repeating past successes. They didn’t really plan it that way. They tried a new taste in 1985 and after offending numerous old coke drinkers, were forced to reintroduce the older version under the “Classic” name. The company is still number one in the world at what it does. They have been basically producing the same stuff for almost a hundred years – repeating it 1.5 billion times per day.

    You might not have the Coke formula in the back of an old drawer but that doesn’t mean you won’t have something in there you could put to great use again. Take some time to reflect on your past successes and bring something forward from your past. Michael Jordan gave up on the baseball after one failed season and rejoined the NBA.

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    Last Updated on June 19, 2019

    8 Life-Changing Skills You Can Learn in Less Than 6 Months

    8 Life-Changing Skills You Can Learn in Less Than 6 Months

    Everyone has the ability to learn a life-changing skill not just this year, but in the next 6 months.

    By life-changing, I mean something that can have a positive impact in your life moving forward, even if it’s something you can’t envision today. Certain skills we can immediately reap the benefits of, while others will be life-changing when we least expect it.

    In this article, we’ll share 8 life-changing skills you can learn in 6 months, where you can learn them, and how you can get started today.

    1. Speed reading

    Bill Gates has been known to state that if he had one superpower, it would be the ability to read faster. What Bill and the rest of the mega-successful understand is that knowledge is power. The ability to process information faster from books, articles, and reports is what will help us learn faster, and therefore improve each aspect of our life faster as well.

    Where you can start learning: Speed reading courses are becoming more popular, as more people realize how important it is with the limited time we have. You can check out free courses like Read Speeder or you can start learning how to use Spritzlet, which allows you to speed read articles online with a browser extension.

    2. Public speaking

    Research shows that people fear public speaking more than death itself. There’s something terrifying about being in front of dozens or hundreds of people, and exposing yourself completely. It’s when you’re most vulnerable, but learning how to public speak is a life-changer.

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    Warren Buffett has given advice to recent graduates that the number one skill you can have to succeed is public speaking skills. Everything from communication, confidence, and sales is developed when you develop your public speaking skills.

    Where you can start learning: Luckily, there are great communities out there like Toastmasters that organize local meetups all around the world. You’ll find amazing public speakers that are looking to get to the next level to beginners that are just getting started. Check out Toastmasters’ website here.

    3. Spanish

    As the third most spoken language in the world, the ability to speak Spanish will allow you to reach over 500M people around the world. No matter where you live, knowing how to speak Spanish is becoming increasingly more important, with the Hispanic population and economy spreading quickly worldwide. If you’re living in the US, this is even more important, with over 30% of the population being Hispanic.

    Spanish is also on this list, because it’s one of the easiest languages to learn. Sure, Mandarin is an important language to learn, but it’s an incredibly difficult one to learn. If we were to measure the level of importance and the time to learn for all the languages available, Spanish would make it to the top of the list.

    One of the biggest reasons why people never reach fluency in any foreign language is: using the wrong method, and lack of time.

    It turns out that humans retain only 5% of what we learn from lectures, 20% of what we learn from apps (visual cues), and 90% of what we learn from immediate immersion. Yet, how do 90% of learn a new foreign language? Language schools (lectures), books, Duolingo (apps), etc that don’t provide the real-life immersion required for our brains to learn faster.

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    Where to get started: If you want the most effective way to learn a language, learning from real-life interactions is the best way to do it. There are great websites like Rype, which offers Spanish coaching for busy people, solving the issue of lack of time and bringing real-life immersion to your screen. With Rype, you can book as many lessons as you want, at any time of the day, any day of the week, allowing you to fit it into your schedule, no matter how busy you are.

    4. Accounting

    If you’re looking to get into business, accounting is one of the core fundamentals you’ll need to succeed. While you don’t need to be an expert, you definitely should understand the basics.

    This skill can also be used to manage your personal finances, to meet your financial goals, and having more control over your life.

    Where to get started learning: If you didn’t learn accounting in school, no worries. You can either teach yourself using books, or check out free accounting courses online.

    5. Microsoft Excel

    Most people reading this probably have a basic understanding of Microsoft Excel Spreadsheet. While this is a good start, there are so many powerful functionalities that are hidden, which could make your life a lot easier.

    Excel is also a great asset to have whenever you’re looking for a job, as many corporations rely on Excel to organize and manage multiple parts of the business.

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    Where to get started learning: With the popularity of Excel, you can find tons of free resources and videos online to learn. Check out Excel Exposure, Lynda, and Excel with Business.

    6. Blogging/Vlogging

    Blogging is a powerful tool if you want to spread your ideas, build your brand, or grow your business. Since it was introduced, blogging has taken on a life of its own, and today there are ~2M blog posts being written on a daily basis.

    Where to get started learning: Anyone can start blogging today. All you need is a content-management system like WordPress, which is completely free. Personally, I think the best way to start learning how to blog is to just start writing. There are techniques you can learn on how to promote your blog, but the best way to grow your blog is to write great content.

    7. Weight training

    Yes, weight training is a skill. It’s not as advanced as learning how to code, nor will it take as long as learning a new language, if you just want to learn the basics.

    We’re not promising that you’ll get a body like Arnold Schwarzenegger, but you will see much faster results for whatever goal you have, just by understanding how to workout properly. And of course, when you’re dealing with an activity that involves physical strain, you’ll always want to caution yourself.

    Where to get started learning: There are amazing body builders that are sharing all of their secrets for free on Youtube. You can check out Bodybuilding.com’s Youtube channel to get started.

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    8. Photo and video editing

    In the digital world that we live in, from Youtube, Instagram, and Facebook, there is no avoiding photos and videos. In fact, social media has increasingly gone away from text sharing and almost everything to photo and video editing.

    Where to get started learning: For photo editing, you can use Photoshop. For video editing, you can use iMovie or Final Cut Pro. Keep in mind, there are dozens of editing software tools for video and photo editing, but what’s more important are your editing skills, not the tool itself.

    Check out education websites like CreativeLIVE or Skillshare, where you can learn from experts themselves on how to best use design and software tools.

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