Saturday, January 25, 2014

3 Key Themes of Davos - TIME

3 Things I’ve Learned At Davos So Far

Read more: Rana Foroohar: 3 Key Themes of Davos | TIME.com http://business.time.com/2014/01/23/three-things-ive-learned-at-davos-so-far/#ixzz2rSvPmNoh


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Here’s my big picture Davos takeaways so far:
1. Everyone is bullish on the U.S. economy, and worried about changing U.S. foreign policy and global politics. At a dinner I moderated last entitled “Pundits, Professors, and Predictions,” folks like Eurasia Group founder Ian Bremmer, Harvard Professor Joseph Nye, Paris School of International Affairs dean Ghassan Salame and several others spoke about how old alliances (between the U.S. and Japan, for example, the U.S. and Germany, or the U.S. and Saudi Arabia) are loosening, while new ones are forming. America’s growing energy independence—which is at the heart of America’s future economic growth—means that the U.S. may have less interest in the Middle East in the future, a vacuum that could be filled by China, which may care less about the doings of nations like Israel. Meanwhile, global conflict is moving East into Asia, and especially into the East China and the South China Seas, as growing Chinese influence brings conflict with Japan, and possibility the U.S.  Could we be looking at a 1914 moment, in which small conflicts between nations that are suspicious of each other become big ones?
2. The middle classes in the developed world and developing world are switching places. In a fascinating session about the “squeezed middle,” Berkeley professor and former Clinton economic advisor Laura Tyson made the point that the middle class in America peaked in 1999—that’s when median family income started to fall, and it’s down by 13 % since then. Our expectations for both a better life for our children and our belief in our own economic and political system is weakening. Meanwhile, greater inequality means that the rich are increasingly uninterested in investing the public good—they build private systems of education and healthcare and pay less taxes as a percentage of income than ever, making it tougher to invest in the public programs that pull the rest of the country up, thus creating a snowball effect of more inequality, and social instability, since mobility decreases as inequality increases. One silver lining, though, is that lower wages are making the U.S. much more competitive in terms of job creation–the manufacturing boom in the U.S. means that the rich world may become the producer society, as the emerging world (where a growing middle class has more spending power) become consumers.
3. Bankers believe the financial system is safer–but nobody else does. Risk relative to assets in the world’s largest financial institutions is down a little bit from 2008, but still much higher than it was thirty years ago. Meanwhile, $15 trillion worth of central bank money dumps since the financial crisis have distorted markets and left both stock and bonds vulnerable to a big correction. And debt hasn’t so much gone away but changed hands from the private to the public sector, which now has less firepower to offset a future crisis. Global regulations like Basel III banking rules and Dodd Frank regulations have been watered down, and few believe they’ve ended the Too Big To Fail problem. Walking around Davos, I sometimes get the feeling that the leaders of the TBTF institutions draw straws every year to defend the industry (last year Jamie Dimon got the short straw; this year the British bankers from places like Barclays and HSBC seem to be holding it). But when a hedge funder like Paul Singer will admit that derivatives “have been a net negative to society” you know something is still rotten in the state of finance.


Read more: Rana Foroohar: 3 Key Themes of Davos | TIME.com http://business.time.com/2014/01/23/three-things-ive-learned-at-davos-so-far/#ixzz2rSvworCY


5 Scientifically Proven Ways to Reduce Stress at Work - TIME

5 Scientifically Proven Ways to Reduce Stress at Work

Read more: 5 Scientifically Proven Ways to Reduce Stress at Work | TIME.com http://business.time.com/2014/01/22/5-scientifically-proven-ways-to-reduce-stress-at-work/#ixzz2rSuQtqiy


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Is stress as much a permanent fixture at your job as the office coffee machine? If so, you’ve got plenty of company. According to the American Psychological Association, workplace stress costs American companies an estimated $300 billion annually. 
There’s been workplace stress as long as there have been workplaces, but if you think you’re more stressed now, you’re probably right. “Ability to do their job well and therefore keep their job is a major stress for most employees, especially in a fluctuating economy,” says Heidi Golledge, co-founder of CareerBliss.
But this doesn’t mean you’re relegated to spending 40 hours (or more!) each week as a bundle of nerves. Social scientists who study how, when and why our jobs stress us out have
Sit up straight. Your mother probably told you to sit up straight, but she probably didn’t know good posture can affect how well you do on the job. “Your posture influences psychology and that influences behavior,” says Andy Yap, a post doctoral associate and lecturer at the Massachusetts Institute of Technology. Yap conducted experiments and found that when we sit in tight, contracted positions — like squeezed into a too-small seat or hunched over our phone — we feel more stressed and less powerful. “Power buffers you from stress,” he says.
If your desk or workstation is cramped, see if you can move things around to give yourself a little more physical (and mental) breathing room. If that’s not an option, periodically strike “power poses,” where you take up more space and stretch out a bit.
Get organized. Researchers at UCLA found that just looking at clutter can spur the body’s production of stress hormones, so working in a messy office or cubicle can make you stressed even if the work itself isn’t high-stress. It’s OK to start small. “We know from research that little acts of neatness cascade into larger acts of organization,” UC Berkeley sociologist Christine Carter tells CNN. Tackle that pile of papers you never get around to filing, or the overflowing inbox.
“In general, clutter is simply a delayed decision,” says Scott Roewer, who owns organizing company Solutions by Scott & Company. “Start by simplifying the decision process by using these three categories: reference, action, and recycle,” he advises, then subdivide from there. “If you have 10 to 15 pieces of paper on your desk in an action pile, it may work for you, but as the number of action items grows, your system will become less productive. If you group your papers by the type of action, you’ll be able to act on them more efficiently,” he says. Your tasks can be things like “call back,” “file” and “send out.”
(MORE: Stuck at Work? 6 Things You Need to Do This Week)

Abandon unrealistic goals. Ambition is good, but sometimes we can fall into the trap of setting goals for ourselves that are too high, which just discourages us when we fail to reach them. Peter Creed, a psychology professor at Griffith University in Australia, studied nearly 200 college students and noted how they reacted when faced with an unachievable goal. “When contemplating unachievable goals, those with a higher capacity to adjust their goals… report less distress, more career planning, and more exploration.” Like many other things in life, being able to be flexible is key.
Aim high, but with the understanding that you can go back and change those goals. ”Taking pride in everything you do, no matter how big or how small, is key to confidence and success,” Golledge says.
Try to avoid interruptions. Yes, it can be easier said than done when your phone is ringing and your voicemail light is already flashing, your email inbox is filling up and a co-worker sticks their head in to ask a question. But researchers in Germany found that addressing interruptions rather than staying focused less to stress. “Workflow interruptions had detrimental effects on satisfaction with one’s own performance, the forgetting of intentions, and irritation,” they wrote.
When the inevitable does happen, don’t let it derail you, Roewer says. “If you find yourself interrupted in the middle of a task, write a quick reminder to yourself about what and where you left off,” he suggests. “By using this method, you’ll have a reminder of where to begin when you return, and won’t lose time trying to retrace your steps.”
Embrace your stress. Yep, it sounds crazy. But researchers at Yale University discovered that experiment subjects who were presented with the idea that stress can be beneficial “reported improved psychological symptoms and better work performance” compared to other subjects who were taught that stress is debilitating. It didn’t take much to change people’s attitudes, either; subjects watched less than 10 minutes of video about stress, and that was enough to change their outlook about stress. Having a positive outlook on stress makes people more likely to rise to whatever challenge they’re facing when stressful situations occur.


Read more: 5 Scientifically Proven Ways to Reduce Stress at Work | TIME.com http://business.time.com/2014/01/22/5-scientifically-proven-ways-to-reduce-stress-at-work/#ixzz2rSujxqMx

14 Inspiration Quotes That Will Change Your Life in 2014 - TIME

14 Inspiration Quotes That Will Change Your Life in 2014

Read more: 14 Inspiration Quotes That Will Change Your Life in 2014 | TIME.com http://www.inc.com/jeff-haden/14-inspirational-quotes-for-2014-mon.html#ixzz2rSt91ih9


Romance Novels
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This post is in partnership with Inc., which offers useful advice, resources, and insights to entrepreneurs and business owners. The article below was originally published at Inc.com.
I used to hate inspirational quotes, maybe because my wrestling coach used to say, “If you’re not puking or passing out… you’re not trying hard enough.” (Go ahead: bask in the warm glow of that little gem.)
Now I think inspirational quotes can indeed be inspirational–but only if we actually apply and live those words.
So instead of just grabbing famous quotes we’ve all heard before, I’ve picked things people told me that caused me to act differently. I probably won’t remember what, say, Ben Franklin once said, no matter how poignant or witty, but I definitely remember what certain people said to me at critical moments in my life:
1. “Only a genius can do things his own way. You? You’re no genius.” I worked a construction job one summer and kept questioning what I was told to do. The foreman finally, in no uncertain terms, set me straight. It’s okay to reinvent the wheel, but only after you know how the current wheel works. Never assume you know better when you don’t really know anything.
2. “If you want to know how much you’ll be missed when you are gone, put your finger in a bucket of water and then remove it. The hole that’s left will be how much you are missed.” No one is irreplaceable. No one. Not even this guy. Instead of depressing, the thought we’re professionally replaceable is liberating. You may not leave a hole, but you can leave a mark on a person, a team, or a culture that lives on after you’re gone.
You may not be missed but you can be remembered–in the best possible way.
3. “We all have limits. Almost no one reaches theirs. You definitely haven’t.” You could swim faster if a shark was on your tail. You could run faster if your child was in danger. You could work harder if the payoff was truly exceptional.
What we think we can do is always–always–less than what we can do if we really, reallytry. We always have a little more in us. Find your true limits and you may find that success is limitless.
4. “Unless you’re the lead dog in the sled, the view never changes.” Following the crowd means living the same life as the crowd. You don’t want that.
5. “There are two types of pain you will go through in life: the pain of discipline and the pain of regret. Discipline weighs ounces while regret weights tons.” (Original to Jim Rohn.) The worst words you can say are, “I just wish I had…” Push yourself to do what you hope to do… so you will never have to regret not having tried.
6. “Fat, drunk and stupid is no way to go through life, son.” (Gotta love Dean Wormer.) I haven’t overcome the stupid part… but I’m trying.
7. “The coward dies a thousand deaths, the brave but one.” (Original to Ernest Hemingway.) Think about easing into a cold ocean; every inch is excruciating. Dive in and it sucks big time, but then it’s over. It’s even worse to turn away from what scares you because when you do, deep inside, a little piece of you withers and dies.
Dive in. It’s never as cold, or as bad, as you think.
8. “Today’s pain is tomorrow’s power. The more you suffer today, the stronger you are tomorrow.” Self-pity is self-defeating. Tomorrow’s success is based on today’s discomfort. Plus willpower is like a muscle: the more you exercise it, the stronger your will gets.
And the easier it is to call on when dedication and persistence make all the difference.
9. “Bravery means finding something more important than fear.” Courage without meaning is just recklessness. Brave people aren’t fearless; they’ve simply found something that matters more to them than the fear they’re facing. Say you’re scared to start a business. Find a reason that has greater meaning than the fear: Your family’s future, your desire to make a difference, or your dream of a more fulfilling life.
When you find a greater meaning you find the courage to overcome your fear.
10. “Do it or not. There is no try.” (Original Yoda, philosopher and avant-garde sentence constructor.) A boss once gave me what I thought was an impossible task. I said, “Okay… I’ll try.” He explained that I would finish as long as I didn’t quit. Trying didn’t enter into it. Persistence was all that mattered.
Often we say, “I’ll try…” because it gives us an out. Once we say, “I will,” our perspective changes. What previously seemed insurmountable is no longer a matter of luck or chance but of time and effort and persistence.
When what you want to do really matters, never say, “I’ll try.” Say, “I will,” and keep that promise to yourself.
11. “Stop waiting for the ‘right time.’ Success is a numbers game: the number of times you take a shot.” You’ll never create the perfect business plan, never find the perfect partners, the perfect market, the perfect location, but you can find the perfect time to start.
That time is now.
Talent, experience, and connections are important, but put your all into enough new things and some will work. Take enough shots and over time you’ll grow more skilled, more experienced, and more connected. And that will mean a greater percentage of your efforts will succeed. Take enough shots, learn from what didn’t work, and in time you’ll have all the skills, experience, and connections you need.
Ultimately success is all about taking your shot, over and over again. Sometimes you may win, sometimes you will definitely lose, but the more things you try the more chances you have of succeeding. Put the power of numbers on your side. Take as many shots as you can. There’s no guarantee of success, but when you don’t take a shot, there’s a definite guarantee of failure.
12. “Resentment is like drinking poison and expecting the other guy to die.” The same holds for bitterness. And jealousy. And dislike. Let it go. If you don’t, the only loser is you.
13. “The extra mile is a vast, unpopulated wasteland.” (Me.) Everyone says they go the extra mile, but almost no one actually does. Most people think, “Wait… no one else is here… why am I doing this?”
That’s why the extra mile is such a lonely place. That’s also why the extra mile is a place filled with opportunities. Be early. Stay late. Make the extra phone call. Send the extra email. Do the extra research. Help a customer unload or unpack a shipment. Don’t wait to be asked; offer. Every time you do something, think of one extra thing you can do–especially if other people aren’t doing that one thing. Sure, it’s hard.
But that’s what will make you different–and over time will make you incredibly successful.
14. “It’s just a flesh wound.”The Black Knight never gives up.
Neither should we.
Now it’s your turn: What has another person said to you that made a lasting impact? Add your favorite quotes in the comments below!


Read more: 14 Inspiration Quotes That Will Change Your Life in 2014 | TIME.com http://www.inc.com/jeff-haden/14-inspirational-quotes-for-2014-mon.html#ixzz2rStUt7ZV

7 Things Extremely Persuasive People Do -TIME

7 Things Extremely Persuasive People Do

http://business.time.com/2014/01/24/7-things-extremely-persuasive-people-do/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29



Sometimes you absolutely have to make your point. Here are 7 tips on how to do it effectively with style and grace.


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This post is in partnership with Inc., which offers useful advice, resources, and insights to entrepreneurs and business owners. The article below was originally published at Inc.com.
While many people don’t like to sell, most find themselves having to persuade someone at some point. Persuasion is not just for salespeople and their prospects. You may try to persuade an employee to perform better, or perhaps you want to persuade your boss to take on your brilliant idea. Often the most effective persuaders are your kids. Somehow they come by it naturally while you, the adult, has to work hard to find the persuasive path to success.
Whatever your persuasive need, here are 7 things that the most persuasive people consistently do:
1. They Are Purposeful
Truly persuasive people understand their power and use it sparingly and knowingly.  They understand that most conversations do not require trying to get someone to do or accept something. Aggressive pushers are a turn-off and will put most people on the defensive. It’s the person who rarely asks or argues that ultimately gets consideration when they strongly advocate an idea, especially when they do it with power and persistence.  Simply put, they pick their battles. Want to persuade more? Argue and advocate less often.
2. They Listen … and Listen … Then Listen Some More
People who know how to persuade also know that just pushing your own argument will get you nowhere. They certainly are able to articulate their position in a convincing way, but that is only half the equation. They are actively listening when in persuasion mode. First, they are listening to assess how receptive you are to their point of view. Second, they are listening for your specific objections, which they know they’ll have to resolve. Last, they are listening for moments of agreement so they can capitalize on consensus. Amazingly persuasive people are constantly listening to you and not themselves.  They already know what they are saying. You can’t persuade effectively if you don’t know the other side of the argument.
3. They Create a Connection
It’s easy to dismiss people who are trying to persuade you if you have no emotional stake in them or their argument. Really persuasive people know this, so they will be likeableand look for common ground to help establish emotional bonds and shared objectives.They show empathy for your position and make it known that they are on your side. They manage their impatience and wait for you to give them permission to advocate their approach. You’ll persuade people much more easily if they are open and aligned with your desires.
4. They Acknowledge Credibility
Really persuasive people understand that there is no sense wasting time arguing facts. Most of the world does not function in black and white. They value strong opinions and will make sure that you are entitled to yours. In fact, they will make sure they give you full credit for every argument of yours that has some validity. This makes it harder for you to fully dismiss their point of view. When you are persuading people, reinforce their credibility on facts and opinions rather than dismissing them outright. Then they’ll be more likely to pay you equal respect in the exchange and be more open to the merits of your opposing view.
5. They Offer Satisfaction
Smart persuaders know that they don’t have to win every little battle to win the war. They are more than willing to sacrifice when it helps the overall cause. They are ready to find the easiest path to yes. Often that is simply to give you what you want whenever possible. In my old lending days, we would often deal with busy underwriters who asked for items we knew they already had. Instead of arguing the point, we would just resend the documents and save our energy for issues that were not so easily resolved. Give ground where you can and hold your ground only where it matters. Choose being successful over being right.
6. They Know When to Shut Up
Successful persuaders get that you don’t win the battle by constantly berating people with an unending verbal barrage. Wearing people down is not an effective strategy. They carefully support their arguments and check in with questions that will help to close the conversation. Then they step back. The great sales trainer Tom Hopkins still today teaches these decades-old techniques of his mentor J. Douglas Edwards. His most important lesson is “Whenever you ask a closing question, shut up. The first person who speaks, loses.”
7. They Know When to Back Away
Urgency and immediacy are often the enemies of real persuasion. It’s possible to close a less significant sale through urgency, but deep ideas require time and thought to take root. Great persuaders bring you along in your own time. And they give you the space and time to carefully consider their position. They know that nothing is more powerful than your persuading yourself on their behalf. That almost never occurs in the presence of the persuader. The next time you want to persuade someone of something truly important, follow the tips above, make your case, and walk away. If they don’t come around, you were probably wasting your effort in the first place.
Read more from Inc.com:


Read more: 7 Things Extremely Persuasive People Do | TIME.com http://www.inc.com/kevin-daum/7-things-really-persuasive-people-do.html#ixzz2rQiPnoxN