From lessons from the Olympics to a story on how Instagram stole Snapchat’s lunch, this week’s picks on what’s new in entrepreneurship will give you a lot to chew on this weekend, and will help you to move into the coming week with a solid purpose and plan.
Function (and the dysfunctional organization)
If you’ve ever read posts by Seth Godin, you know that he’s a master at saying profound things in just a few words. This post is no exception, weighing in at less than 200 words. As such, there’s not much point in summarizing it, but I do want to give you a short quote from it to whet your appetite.
And, person by person, trait by trait, we build a broken organization because we believe that function trumps cooperation, inspiration and care.
You can read all 195 words of the article here.
It Pays To Maintain Trusted Relationships In Business
Just the other day I shared with one of my colleagues about how business today is facilitated by an "introduction machine." The truth is, many of our business opportunities comes through introductions. And naturally, people are hesitant to introduce people who aren't trustworthy.
This article published on Forbes gives the following points about building trusted relationships in business:
- Lead with business and technical acumen for people who count.
- Building the right relationships requires proactive efforts.
- Avoid naysayers and downers.
- Maintain competitor relationships and seek alternate views.
- Don’t be afraid to ask for help from people who are ahead of you.
- Incent others to contribute to your success.
- Don’t back away from conflicts that can be constructive.
- Actively and positively end relationships that are not productive.
The final paragraph sums it up nicely:
Today’s business world more than ever is a networked economy, requiring collaboration, and is most productive with trusted relationships, rather than a reliance only on legal contracts. Building relationships is not rocket science, and can be learned by anyone. It is the common ground between corporate professionals and entrepreneurs. Start practicing it today wherever you are.
You can read the original article here.
12 books that Bill Gates thinks everyone should read
It should come as no surprise to you that we here at PatrickBetDavid and Valuetainment are big believers in the power of reading. It should also come as no surprise to you that other great entrepreneurs are also big readers. Bill Gates is one such person. He personally makes a habit of reading one book a week.
This article published on Business Insider provides a list of 12 books he believes everyone should read. Once you've added those to your reading list, you may also want to check out Patrick's Top 100 Books, or if you're overwhelmed by the entire list of 100, start with the video and article below.
11 Ways to Balance Humility and Ego in Business
If you're like most people, you struggle to maintain balance between pride and insecurity, or as this article published on Inc. puts it, ego and humility. I personally believe that while the two things appear to be opposites, they are actually very closely related. And the bottom line is that there is a fine line between being confident and arrogant. Since it's so easy to cross the line, this article is worth a read, and even worth reviewing on occasion to keep yourself in check.
Among the 11 ways listed, these two stood out to me the most:
7. Treat famous people and influencers the same.
Famous people have been treated differently from the beginning of time, and it's completely natural to behave differently toward someone who is famous, but that doesn't make it wise or right. It's important to keep in mind that the most lowly person still has value. On top of that, you never know who they may become.
8. If you take credit for success, take credit for failure.
I think this point is one of the most important ways to maintain the balance between humility and ego, because the truth of the matter is that we all experience both success and failure, and if we own up to both, we're presenting a realistic picture of of who we are -- both to others, and ourselves.
You can check out the other nine points by reading the article here.
Instagram Stories Steals Snapchat’s Lunch
There's been a lot of buzz this week over the launch of Instagram Stories, since it's very, very similar to Snapchat. I know people who didn't "get" Snapchat and already have a following on Instagram have jump right on the Instagram Stories bandwagon. In contrast, some people loyal to Snapchat have gone as far as to boycott Instagram.
The final paragraph in this article published on Small Business Trends sums it up nicely:
Lesson to businesses: You can never have a monopoly on an idea. If you seek to launch a new product or give a unique service, do it now. Even if another brand later jumps on the bandwagon, being first on the scene still counts for something.
You might want to also check out this related article and video published a few weeks back here on PatrickBetDavid.com:
10 Personal Habits That Leads to More Success
Even the most innovative of us are creatures of habit. The bad news is, not all habits are good, and unfortunately, bad habits typically come more naturally than good ones. The good news is that we can all change our personal habits, and be intentional about developing habits that lead to success.
This article published on Addicted2Success provides a list of the following 10 habits that lead to success:
- Having a morning routine
- Eating a balanced diet
- Exercising regularly
- Sleeping well
- Cultivating strong relationships
- Using money wisely
- Learning something new
- Laughing often
- Reading daily
- Getting things done
I especially like the last one, getting things done, because none of the other ones happen without it. You can read the entire article here, and you might also want to check out a video and article published here last week on morning rituals for entrepreneurs, which will help you to go deeper in the first habit on this list.
Turning Pressure into Production
I couldn't close this week's Reading Roundup without including at least one article that drew some lessons from the Olympics. This article published on John Maxwell.com looks at how being under a lot of pressure can lead to productivity. It talks about the intense training that the athletes go through, and how just a millisecond can make the difference between victory and defeat.
Entrepreneurship is also a life that can include a lot of pressure. The key is to turn that pressure into production, rather than allowing it to shut you down. This quote from the article sums it up nicely:
I want to encourage you, my friend, to not shy away from the high-pressure moments in your life. Instead, use the pressure to help you produce. Pressure is a sign that what you’re doing counts. It means that your leadership or your work or your life is meaningful. It means you can make a difference.
You can read the actual article here.
And of course, in case you've missed any of the posts published this week right here on PatrickBetDavid.com, be sure to check them out:
Does worrying about your business keep you up at night? Here's the one question that will help entrepreneurs sleep at night.
Come along for a ride with me in my new BMW i8, and learn what you need to tell yourself to overcome the scarcity mindset.
This one word that neither Donald Trump nor Hillary Clinton are talking about, if addressed would solve 70% of the issues the American people care about.
Do you want to network with the best of them? If so, follow these six tips on how to network like Casanova, and watch your business grow exponentially.
Enjoy your weekend reading. 🙂 And if you have suggestions for other blogs for entrepreneurs that you'd like us to follow and perhaps select content from to share, please leave them in the comments below.