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How To Make The Best of a Business Opportunity

How To Make The Best of a Business Opportunity

Eminem says you only get one shot, and you have to lose yourself in the moment. This would be true if life were a comic book. Unfortunately those moments are never-ending, and there’s no such thing as overnight success. The truth is you’ll take a minimum of ten thousand shots to truly master your craft.

When you have a business opportunity, you have to make the most of it in order to get the next one. Each step counts, and maximizing each individual opportunity is the only path to winning. Don’t half-ass your future – instead follow these tried and true steps to turn a business opportunity into a successful business.

1. Turn Losses into Wins

Every winner loses, but not every loser wins. Although Michael Jordan is widely hailed as the greatest basketball player in history, he got there by focusing on his failures instead of riding the wave of his own successes. The quest to overcome losses drives all champions, both on and off the court.

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If you lose a business partner, use that extra time to find a better one. Your energy levels rise as the fear of financial problems hang over you. Pour that energy into something productive – it’ll keep your mind occupied as you better your business instead of lamenting the loss.

2. Weigh the Risks and Rewards

A few months ago, I received an invite to hang out backstage with Snoop Dogg on 4/20. Initially this seemed like a great opportunity. As the date approached, I realized the risk wasn’t worth what it was going to take to get there. While it could’ve been a great experience for a fan, it wasn’t as beneficial to my bottom line as it was to stay at an event I was due to cover.

I ended up choosing business over pleasure. I made enough money by staying to afford a VIP pass to any concert I wanted, and the content I produced got my name in a variety of publications I wouldn’t have appeared in otherwise. My inner child was disappointed, but the adult me got ahead in my business.

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When you are presented with an opportunity, weigh the risks versus the rewards. If you’re risking more than you stand to gain, you’re giving yourself worse odds than a roulette wheel in Vegas. Never gamble what you’re not willing to risk, and never bet the whole farm to save one crop.

3. Play to Your Strengths

Anyone is capable of doing anything, but we all have certain skills and talents that are more dominant than others. I’m a writer because I love to research and talk. I’m a successful writer because I understand marketing and SEO. I write online because I’m tech-savvy.

Whatever you’re good at or enjoy doing, learn to incorporate these skills and talents into your work. If you’re out and about around town, keep an eye and ear open for opportunities you can help out with. You never know when one of these opportunities will evolve into something bigger.

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4. Turn Down Opportunities that Don’t Fit

I receive business solicitations all the time. There’s no shortage of people looking for a review, plug, or assistance. As a mortgage and insurance whistleblower, it gets difficult because many people assume I’m capable of helping them keep their homes. Although I understand how your house was fraudulently taken from you, I’m not an attorney, and my hands are tied to stop your foreclosure proceedings. As much as I hate doing it, I have to turn down these opportunities.

It’s normal to want to jump on every opportunity you’re presented with. It’s even more tempting when you’re just starting out or your business is struggling. Doing anything you’re asked will lead to you taking on tasks you’re underqualified for and aren’t capable of providing the level of quality required. You may want that business connection or income, but if you’re not giving your best, it won’t last very long. Hold out for your true passion.

5. Get on Your Grind

Business opportunities don’t just show up at your door. Opportunity doesn’t knock at all – you have to look up where opportunity lives, hit the streets, stalk, and bang on opportunity’s door until it lets you in. If it doesn’t, you go around the building looking for open windows. Climb the roof and slide in through the chimney if you have to.

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Whatever you do, don’t just sit around waiting for a business opportunity. Just because you wrote a song doesn’t mean a stadium full of people will show up. Jay-Z isn’t an Illuminati – you’re just an entitled, lazy human being who hasn’t put in more than a day or two of the blood, sweat, and tears Hova put into his career. Sean Carter is a legend because he earned it, so get on your grind or get left behind.

6. Put Your Eggs in Multiple Baskets

The most powerful lesson yoga teaches is to detach yourself from the results. If you define yourself as an executive and end up in an entry-level job, you’re nothing but a phony. Just because someone you admire hit it big off a certain event or contest doesn’t mean that’s your only entry point to your dream career, and no one opportunity defines you.

If you gain a meeting with a company or entrepreneur you admire, use that as leverage to gain a meeting with even more. If Walgreens wants to carry your product, sell it to CVS and Walmart. Instead of being the person who got into one store, you’ll be the person who got into every store. It’s easier to negotiate when you don’t reek of desperation.

The business world is a wild one; you never know how things will turn out, but as long as you swing for every fence, you’re bound to hit a home run sooner or later.

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5 Powerful Ideas on How to Be Productive at Work

5 Powerful Ideas on How to Be Productive at Work

Not being able to stay productive at work is a problem that everyone runs into at some point; no matter how much you like your job, there are certain factors that prevent you from staying at maximum proficiency throughout the whole day.

A lack of productive focus at work can lead to extra stress on yourself, missed deadlines, passed opportunities, raise denial, demotion and even termination.

So, if you are someone who has trouble with your productivity, here are five effective tips on how to be productive at work:

1. Take breaks

First and foremost, it’s important for you to take regular breaks. Trying to work throughout the whole day will tire your brain, which will then cause you to doze off and think about something else.

If you keep working your brain, it will fill up and get jumbled with information—sort of like a computer hard drive. Taking a break would be like resetting your computer so that it can start afresh, or de-fragmenting the data so that all the information is in order.

This is a great thing because it allows you to solve problems you were unable to solve previously, by seeing it differently; if you are able to organize your thoughts properly, you will be able to take in new information more easily.

There have even been studies about methods of saving time and staying proficient, and taking breaks is one of the leading factors.

According to Christine Hohlbaum, the author of The Power of Slow: 101 Ways to Save Time in Our 24/7 World, eating lunch away from your work area every day will greatly increase your productivity. Eating in your work area will give you the illusion that you are working, but whether you like it or not, your brain will begin to wander and think of something else and then you will be working tirelessly with no progress.

It’s important to take breaks before and during work too: if you come to work in a rush because you woke up late, your mind will not be mentally prepared for the day ahead, and you will spend the first 10 to 15 minutes trying to get organized and composed before you can actually start working.

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Instead, you should try to wake up 20 minutes earlier than the time it would take you to “just get” to work. Take that time to stare off into space and not worry about anything.

If you do this, your brain will be empty and ready for all the challenges it has coming for the next few hours.

If your employer only allows a set amount of breaks during the workday, that doesn’t mean you can’t just get up and walk around for a quick break every now and then.

Even if it’s only 5 minutes, it will refresh your brain and you will gain renewed energy to do your job.

Learn more about The Importance of Scheduling Downtime.

2. Pace yourself and balance your workload

One problem that most people run into is that they underestimate the amount of work they have to do, and end up doing 50% of the work in the last 20% of the time they have to do it. This is due to an issue of balancing one’s workload.

When you receive a project, or are doing a job you normally do, take some time to really plan out your work schedule.

Consider how much time it took you to do this last time; determine how you can break the project into smaller parts and which can only be accomplished on certain days, and whether anything might come up that could interfere with your plan.

All of these questions are important for starting on a project, and when answered, they will help you stay productive throughout each day.

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For example, if you needed to design a project to map out the amount of aid offered in various regions after Hurricane Sandy, you can break it up as follows:

You will need to know what organizations are offering help to begin with, how much aid those organizations gave or plan to give, which regions were hit by Sandy, and which regions suffered the greatest losses.

You start this project on a Thursday and know you have until Tuesday to gather this information.

In order to stay productive, you need to plan out your work week—now you know you can find out which organizations are involved in helping the Hurricane Sandy Victims any day since that information is online, but gathering information on the organizations may require you to call them.

Since phone calls can only be done during week days, you have to plan on gathering all of that information before the weekend comes.

That is just one example of a situation in which pre-planning your project will help you stay productive; had you researched the affected regions first, you would not have received the info on the organizations until the weekend, and may have missed your chance to call them.

That, in turn, would have wasted time you could have spent working on this project to finish it.

Knowing what you need to do, when you can do it, and how long it will take you, is important in balancing your workload and being more productive and efficient.

3. Put your work first

This is an issue that usually occurs with young people who are new to the workforce: they’re often tempted with offers to go out at midday, and then come back lost in thought and unfocused on their work-related tasks.

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While it is important to take breaks, your breaks should consist of you clearing your mind, not loading it up with other less important information—like sports.

However, that is not the only situation where you need to worry about putting your work first before all else.

In a work environment, the senior employees will oftentimes push some of their menial tasks onto the newer employees. If you fall into that category, you need to know that their work is not your work, so if you have tasks that need to be done, you need to do it first.

If you are a new employee, you must learn to say no to other people even when it means you may not be in their good graces anymore. You can help others out once your work is done, but you are paid to do your own work, not anyone else’s.

4. Don’t open your browser unless you need them

In this day and age, everyone is constantly monitoring their social network. This is a major pain point for companies, which is why many don’t allow employees to access their social networks on company workstations.

When you are at work, disconnect the internet from your phone and keep your browsers closed so you’re not tempted to log onto your social media accounts or browse any sites that are not work-related.

If you keep your browsers closed and phone tucked away, only to be used in an emergency, you will find yourself being a more productive employee right away. 

5. Try to be happy and optimistic

If you always have a negative outlook on life, you will be more distracted and less motivated to get work done, so it’s important for you to start your day off right.

This can be done by having a good breakfast or by taking time in the morning to watch one of your favorite TV shows before work.

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If you are happy, you will find yourself able to work much more productively as your mind won’t wander into worrying about something else.

Also, if you stay optimistic and keep telling yourself that you can do whatever you set your mind to, the tasks will seem much less daunting and will go by much more quickly.

Take a look at more effective ways to stay positive at work:

15 Ways To Stay Positive At Work

Happiness and optimism are the keys to being a productive and happy employee.

All in all, heed the five tips above and you will find yourself being one of the most productive people at your company.

While you do not need to master them all, each and every one of them will help you become a better and more efficient employee.

Featured photo credit: Pexels via pexels.com

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