All leaders must learn the basic laws of leadership so they can use them as illustrations, as well as use them for productivity.
The Law of Sowing and Reaping
Whatever you sow, you reap. Another way to put it: In order to reap, you must sow. Everyone has to get good at one of two things: planting in the spring or begging in the fall. To deserve the harvest, you must plant the seed, take care of it in the summer and then carefully harvest it.
Now, here’s the rest of the law of sowing and reaping: If you sow good, you reap good. If you sow bad, you reap bad. You can’t sow bad and hope for good. You can’t plant weeds and hope for flowers. It works both ways, positive and negative.
Here’s something else about the law of sowing and reaping: You don’t reap only what you sow. You reap much more than what you sow. That’s important to understand. This works both positively and negatively, too. The old prophet said, “If you sow the wind, you don’t reap wind, you reap a whirlwind.” But if you plant a cup of corn, how much do you get back—a cup? No, a bushel for the cup. You get back much more than what you plant. That’s the reason for planting—for the increase.
Now, here’s the next key to the law of sowing and reaping: Sometimes it doesn’t work at all. The farmer plants the crop in the spring and takes care of it all summer. He’s an honorable man, loves his family and is a decent citizen. But the day before he sends the combines into the field, a hail storm comes along and beats his crop into the ground. And it’s gone. It’s lost.
So this time it didn’t work. Now what must the farmer do? He’s got to decide whether to do it again or not. “Shall we take another chance the next spring?” We would advise him to do so even though he lost everything in the last harvest, because, more often than not, you’ll have a harvest if you plant in the spring. There’s no guarantee, but it’s pretty good odds.
The Law of Averages
If you do something often enough, you’ll get a ratio of results. Once you understand that, the world is yours.
Let’s say you’re just getting started in sales and you talk to 10 people, and you get one. We now have what we call the beginning of a ratio. Talk to 10, nine say no, and one says, “Yes, I’ll buy your product. I’ll take your service.” Somebody says, “Well, one out of 10 isn’t that good.” Well, you’re just getting started. Here’s what happens with the law of averages: Once it starts, it tends to continue. If you talk to 10 and get one, chances are excellent that if you talk to 10 more, you’ll get another one. You don’t have to be perfect here. All you have to do is understand the law of averages.
Even if you’re only getting one out of 10, you can now start to compete. If you’ve been at it a long time, you can get nine out of 10. Even though I just started, I’m telling you if we have a contest, I will beat you. You say, “Well, you just started. How could you beat me?” It’s very simple. If we have a 30-day or a 60-day contest, while you talk to 10 and get nine, I’ll talk to 100 and get 10. I win. Isn’t that clever?
Here’s what I do if I’m new: I make up in numbers what I lack in skill. When my skills increase, I don’t have to do 100 to get 10. Once you understand the law of averages, the chances are excellent that the ratios will work for you. The law of averages will serve you well as a leader in your business career, in your sales career, in any kind of career.
The 80/20 Rule
There’s an old leadership rule that’s been around a long time. It says 20 percent of the people do 80 percent of the business, and 80 percent do 20 percent. This isn’t something you try to change or rearrange. It’s part of the deal. Somebody says, “Well, I’ll just fire the 80 percent.” No, because then, of whoever’s left, some of them will do 80 percent and the rest will do 20 percent. It’s not something you mess with.
These laws are just something you work with. So, how do you work with the 80/20 rule? Here’s what you’ve got to do: Part of it is time management. You can only give 20 percent of your time to the 80 percent because they’re only producing 20 percent. Now, you can give 80 percent of your time to the 20 percent. The pull, though, is in the opposite direction. Guess who wants eighty percent of your time? The wrong group.
This is not a moral question. It’s the wrong group in terms of productivity and effectiveness in your business, for your future. So what’s the answer to that? You can work individually with the 20 percent, but you can only work in a group setting with the 80 percent. The key to remember: Give 80 percent of your time to the 20 percent.
The Law of Faith
Faith is the ability to see things that don’t yet exist. Faith can turn difficulty into positive reality. There are a few parts to the law of faith:
See it as it is. First, faith is the ability to see it as it is. Faith doesn’t mind seeing it as it is because faith is a miracle worker. Faith does not ignore the negative. Faith uses the negative, because if there was no negative, then there’d be no need for faith. You need faith because everything isn’t OK. If it’s ugly, then it’s ugly. If it isn’t working, then it isn’t working. If it’s a mess, then it’s a mess. It doesn’t hurt to call a mess a mess. Faith doesn’t mind admitting that. Faith doesn’t mind seeing that. Seeing it as it is—that’s the beginning of faith.
See it better than it is. Second, faith is the ability to see it better than it is. Can’t you see beyond the mess? The mess is for today. Can’t you look into tomorrow? The answer is, “Yes, I can look into tomorrow.” Humans have this incredible ability to look into tomorrow, to look into next week, next year. So we not only have the ability to see it as it is—the beginning of faith—but also to see it better than it is. Dream the dreams, make the plans, visualize, use your imagination and see it better than it is.
Make it better than it is. Now, the part that turns faith into reality: Make it better than it is. Faith now must be invested. If you invest faith in action, you can take any situation and make it better than it is.
Don’t see it worse than it is. Here’s something to watch out for in the beginning of faith: Don’t see it worse than it is. Don’t blow it out of proportion. If it’s bad, that’s how bad it is. You don’t need to multiply how bad it is by 10. That’s not necessary. See it just as it is. That’s the deal.
Don’t see it for more than it can become. Here’s another unique key to faith: Don’t see it for more than it can become. There’s a thin line between faith and folly. Yes, it’s possible to see yourself as a millionaire, but not overnight. It’s still possible to be a millionaire and it’s still possible to be rich and wealthy, given a certain amount of time working with the law of averages. Plenty is possible without being foolish in your faith exercise.
It might be worse than when you first see it. Keep in mind that it might be worse than you first see it. Sometimes you just look at the surface. You’d better look underneath. You’d better take a deeper look so that you can really see it as bad as it is. Not to overblow it now, but to make sure you see it as bad as it really is.
It might be far more in the future. Don’t forget to give yourself a chance to see that it could be far more in the future than what you can first see. On a foggy night, if all you can see is a hundred feet, then walk that first hundred feet. Now you can see another hundred feet.
So take the early steps of faith. Whatever you can see as possible to become, start believing that, have faith in that. As that starts to take hold, you’ll be able to see it for more and for more and for more, and the possibilities will start to increase in your own imagination.
Work With the People Who Deserve It
Life operates by deserve. So, in leading people, learn to work with the people who deserve it, not the people who need it.
You’ve got to set up objectives ahead of time to determine who deserves it. When you bring somebody into your enterprise, you set the ground rules. Make sure all the guidelines are clear. Monitor results and accomplishments, then you know who deserves it.
Now, remember the 80/20 rule—the pull is in the opposite direction. Guess who wants your help: usually the wrong people. It’s usually the people who need it, not the people who deserve it. There are plenty of places for your benevolence, but in your enterprise, you must respond to the people who deserve it.
Teach people how to deserve it.
Teaching people and moving them from need to deserve starts to accelerate their self-esteem. You can’t believe what a high the beginning of new self-esteem is. If a person hasn’t had it for years and years, and they’ve been beaten down by their own philosophy and they’ve been beaten down by everybody else—if you start them on the early steps of learning to deserve, then that starts this process of self-esteem. And self-esteem leads to action, action leads to progress, and progress leads to fortune. So work with the people who deserve it. And teach people how to deserve your time, how to deserve your help.
Let people grow and develop.
Don’t expect the pear tree to bear apples. I mean, let people do whatever they can do. And let them change their mind. Let them grow and develop. Here’s what I’ve found: You cannot change people, but they can change themselves. The best you can do is to inspire, teach, pray and hope. You can’t get in there and change them, but you can do your best to deliver the message that can create change if someone will accept it. If someone will do something about it, then take the early baby steps to get them started. Be happy with the smallest progress, give some rewards and a pat on the back and say, “It’s going to work for you. You’ve taken these two steps. I’m telling you, if you can take two steps, you can take 102.”
Know That There is Both Good and Evil
All leaders must teach the fact that there is both good and evil. We are all challenged to become the most of the good in us and the least of the bad. That’s the beginning of civilization. Character is a core element of leadership.
Let me tell you a story. The frog and the scorpion appear on the bank of the river at the same time, and the frog is about to jump in and swim to the other side. The scorpion sees what’s about to happen and engages the frog in conversation. He says, “Mr. Frog, I’m a scorpion and I can’t swim. Would you be so kind as to let me hop on your back? You swim across the river, and just deposit me on the other side. I’d be grateful.” The frog looks at the scorpion and says, “No way. Scorpions sting frogs and kill them. I’d get out there halfway, you’d sting me, and I’d drown.” The scorpion said, “Mr. Frog, with your frog brain, you’re not thinking. If I stung you out there halfway, you’d drown and I’d drown. I just want to get to the other side. Please do me the favor.” The frog says, “OK, that makes sense. Hop on.” The scorpion hops on the frog’s back, and the frog starts across the river. Sure enough, halfway across the river the scorpion stings the frog. They’re both in the water about to go down. The frog cannot believe what’s happened, and he says, “Why did you do that? I’m about to drown and die, but so are you. Why would you do that?” And the scorpion says, “Because I am a scorpion.” It’s his nature, his character. Make note of this: You can’t take a chance. You’ve got to know the scorpion.
I learned in building an enterprise that there are some people you don’t need. You’re better off without their productivity because they’re scorpions in the fold. The old prophet said, “Beware of the foxes that spoil the vines.” The vineyard looks good, but you’d better look a little closer—the foxes are at work. And to be a good shepherd, to be a good father, to be a good mother, you’ve got to learn the story of the frog and the scorpion and the foxes that spoil the vines.
The Key Strategy to Buying Stocks in 2021
For investors looking to grow their portfolios these days, here is a hard truth: You have limited options.
In this extended era of low rates, average interest on savings accounts is close to zero. Fixed income is not much better, with 10-year Treasurys offering well below 1%.
That’s not even enough to keep up with annual inflation, let alone grow your savings for a comfortable retirement. That leaves one primary weapon in your arsenal: Equities, or shares in publicly-traded companies.
The stock market
There is more risk involved with buying stocks than with bonds or other investments, but there is also more potential return. Looking through a long-term lens of many decades, stocks are a smart place to be – returning an average of 9.2% a year over the last 140 years, according to data from Goldman Sachs.
Compound that return over many decades of your working life, and you can see why stocks are a core component of most portfolios. They not only offer potential share-price appreciation, but income generation as well, if they provide a dividend (a regular payment to shareholders).
Using a simple growth calculator at Investor.gov, if a young saver chips in $500 monthly and enjoys 7% compounded stock returns over 40 years, that adds up to an impressive $1.2 million.
“With stocks there is a greater potential for reward, which is why they are a core part of most investors’ portfolios,” says Michael Kealy, an education coach with brokerage TD Ameritrade in Salt Lake City. “Historically they have provided returns north of other asset classes. There is more risk on the table – but there are ways to offset that risk.”
How to buy stocks:
Stocks for beginners:
Here are three steps to start buying stocks:
1. Decide between a mutual fund and individual stocks
2. Decide which stocks to own
3. Selling stocks: Consider taxes and risks
1. Funds vs Stocks
So where does a new investor begin in buying individual stocks? If your primary savings vehicle is a company 401(k), you will typically be presented with a menu of mutual funds, which are baskets of large numbers of stocks. (The exception to that rule is stock in your own company, which may indeed be offered within that plan.)
For most investors, mutual funds are the wiser path, since they offer more diversification and less risk. But if you are interested in buying shares in individual stocks, you can certainly do that elsewhere — in traditional or Roth IRAs, for instance, which are retirement accounts that let you select from a wider universe of investment options.
Or you can trade stocks in a regular taxable brokerage account, at popular online brokers like TD Ameritrade, Merrill Edge, E*Trade or Schwab. Many investors these days are even gravitating towards apps like Robinhood, which appeal to the mobile and tech-savvy mindset of younger savers.
Every brokerage offers its own educational tools, which new investors should take full advantage of.
“Whatever platform you are using, there will be a comprehensive set of research to help you make the most informed decision possible,” says Aron Levine, Bank of America’s President of Preferred and Consumer Banking and Investments. “You have to educate yourself, because you don’t want to pick stocks based on the latest rumor in the news or what you heard in the hallways.”
How to buy stocks online
Before selecting a brokerage, do your due diligence and look into fee structures, like how much they charge you to make a trade. It could be zero — in other words commission-free — at some online brokers, or it could be a modest amount like $15 or $20.
Just keep in mind that if there are fees associated with trading, frequent buying and selling will eat into your overall returns. Even if those costs seem small at first, they can add up in a big way: In fact one well-known study found that frequent traders underperformed the broader market by 6.5%, largely because of trading costs.
Part of that market lagging is that individual investors are just not skilled at successfully timing the market. We react emotionally instead of rationally, buying when stock prices are too high and selling when they are too low. So for most investors, a Warren Buffett-like buy-and-hold strategy is usually the better way to go: Purchase shares in a company you believe in, at a reasonable price, and then leave it alone and watch it grow.
2. How to pick the right stocks
How do you go about deciding which shares to buy? That’s the million-dollar question, and an inherently personal one, to which no one can give you the answer. But two typical schools of investing thought are “growth” versus “value.”
Growth stocks tend to look more expensive when compared to their current earnings, but their future potential as an expanding business justifies the higher price. Think of prominent technology companies, which have typically looked very pricey in recent decades, but have grown by leaps and bounds – and rewarded investors handsomely.
“How much growth is anticipated, should be one of your very first considerations,” says TD Ameritrade’s Kealy. “You want to see future expected earnings that are well above the past, and to find that out you can research earnings estimates from company analysts.
“When looking for attractive investments, one conventional valuation metric is price relative to earnings (P/E ratio): How much share price am I spending, compared to future earnings?”
That’s where the alternate approach of “value” investing can come in. For any number of reasons – like a broader economic slowdown, or disappointing quarterly results, for instance — a stock may be beaten down at the moment, but as a result it is on sale. Snap up that discount, wait for a rebound, and you should be well-positioned for solid returns going forward.
Another key metric to consider is dividend payout. In that way stocks can be an ongoing source of income, especially for those nearing retirement who would like an additional stream of cash in addition to pensions or Social Security. The average yield of S&P 500 stocks is around 1.5%, but if you pick and choose wisely, many companies are offering 3% or more – which far exceeds what most fixed-income products are offering at the moment.
3. Sell stocks
If you do pick a stock winner, congratulations – but just remember that in taxable accounts, Uncle Sam will want his taste. Short-term gains are taxed at ordinary income rates, while longer-term holdings fall under the capital gains rates of 0%, 15% or 20%, depending on income level. There are no capital gains taxes for buying and selling within traditional IRAs, although eventual distributions are taxed as regular income. Roth IRA investment gains are entirely tax-free, since the initial contributions were after-tax.
Another caveat about investing in individual stocks: Even if you are talking about big, well-known companies, there is a fair amount of risk involved here. As we saw during the financial crisis of 2008-9, unexpected events can take down respected and long-standing firms – and if they crash out, your investment can go to zero.
“Especially in the last six months, there has been a big rush into equities, with young investors getting excited by single stocks,” cautions Bank of America’s Levine. “That creates a great deal of risk, because those investments can go rapidly up or down, with nothing to balance them out.”
One strategy to reduce risk can be to limit such speculative stock picking to a relatively small percentage of your portfolio, while devoting the rest to broader mutual funds and other asset classes like fixed income. That overall balance should steady the ship during market storms, and prevent dramatic swings and rash decisions.
You can also try your hand at stock picking by using a practice account, or what is called “paper trading”. TD Ameritrade, for instance, has a platform called Thinkorswim where new traders can get familiar with how the process works, without putting any actual money on the line.
“It’s basically Monopoly money, and you can see what plays out without it being a live account,” says Kealy. “It’s a good way to practice and build confidence, because education is so important for investors who are dipping their toes in for the first time.”
Richest Woman in Namibia
Who is the Richest Woman in Namibia
Monica Geingos is the richest woman in Namibia
Monica Geingos is a Namibian entrepreneur, lawyer, and First Lady of Namibia since 2015. She has been a board member and director within many of the country’s large companies. She had also chaired the Presidential Economic Advisory Council.
Geingos married the then-President-elect of Namibia, Hage Geingob, on February 14, 2015, shortly before he was sworn into office. She has served as First Lady since March 2015.
she was voted one of the 12 most influential people of Namibia, and in 2020 she was in the list of 100 most influential African women. Geingos is a graduate of the University of Namibia, and spent the early part of her career working for the Namibia Stock Exchange (NSX) in Windhoek. Geingos served as Chairman of the Board of eBank Namibia and is the managing director of the financial undertaking Stimulus, and General Director of Point Break.
Richest Woman in Namibia
Monica Geingos is arguably the richest woman in Namibia. She founded the Economy Foundation in 2016.
Promising to give away all her wealth – estimated at $3 million – to charity when she dies, Monica Geingos is on a mission to change the image of African first ladies and tackle sexism and inequality in Namibia, the world’s second most unequal country.
Geingos married Hage Geingob on Valentine’s Day in 2015 – a month before he was sworn in as president of the southern African desert nation, which gained independence from apartheid South Africa in 1990 but remains starkly unequal.
The couple then voluntarily declared their combined assets of some 110 million Namibian dollars ($7.44 million), a popular move in a continent where politicians and their wives, like Zimbabwe’s Grace Mugabe, grab headlines over unexplained riches.
About 6% of Namibia’s 2.5 million people are white. They dominate businesses and land ownership, a legacy of German and South African colonial rule, along with a growing black elite.
How to Make Money on Quora
Learn how to make money by asking questions on quora
Did you know you can make money just by asking relevant questions or giving useful answers to questions online?
We are about to show you how.
What is Quora ?
Quora is an American question-and-answer website where questions are asked, answered, followed, and edited by Internet users, either factually or in the form of opinions.
Today, the site gets almost 500 million views per month. this means the a great opportunity for anyone with an expertise in any field to make some real money.
There two main ways one can make money on the quora platform.
1 Quora’s Partner Program
The Quora Partner program is an invite-only system that will pay you real money for asking questions on Quora. That’s right- by just asking questions, you can potentially earn thousands of dollars every month. You don’t have to provide answers either- users of Quora will happily provide answers to your questions- you get paid based on the questions you ask. It sounds simple right? So how do you get an invite for this get-rich-quick scheme?
Unfortunately, Quora’s partner program is invite-only. That means, you have to be asked by Quora themselves to participate. They usually only ask users of their site who have been active in the past.
The is no real statistics on how one can qualify for this program. However, spending more time on the platform by answering questions and asking relevant questions can work a trick.
You can also qualify by updating you bio, and filling your profile info.
You get paid for asking questions because, quora will place ads on the page where your questions appear. The more people see your questions, the more you get paid.
Why is the Quora Partner program invite-only? Good question. It’s probably to help sustain the program. By allowing everyone to sign up to it, Quora’s moderators will have a harder job at filtering through all the junk questions and the overall quality of Quora questions will slowly go down
how to make money on quora
2 Affiliate Marketing
We spoke about the Quora partner program which is an invite only program, now if you are on the Quora platform but you are not invited, how do you make money?
Well you can search for questions relating to particular products you are familiar with, provide accurate and relevant answers to those questions and providing a link to your affiliate product, in that way when someone purchase something through your link, you get a commission.
Create a Business Profile
If you are a business owner seeking to get more customers for your products, you might want to make good use of the Quora business profile.
You can earn money this way by answering questions from your customers and linking them to your products. Also quora will place your business bio next to answers you provide on the platform thereby giving your business more exposure.
To create a business profile on quora, you can visit this link
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