5 Frugal Habits of the World's Richest People

Just because someone has accumulated a bank account that rivals that of Bill Gates doesn’t mean they spend like there is no tomorrow. Research and anecdote teaches that wealthy people, including the very wealthiest, are surprisingly frugal.

That’s not saying they're cheap. After all, there is a difference between being cheap and frugal. Frugal means being smarter and wiser at prioritizing your funds, finding the best value and making solid investments, traits that have fattened the bank accounts of the richest people in the world. They have so much wealth because they realize the real value of money.

Here are some of the frugal habits of the wealthy you adapt to build up your own hefty bank account.

1. They use coupons.

Surprisingly, households with average incomes of $100,000 or moreuse more coupons than those that bring in under $35,000. Celebrities including Carrie Underwood, Lady Gaga, Kristen Bell and Hilary Swank are just a few examples of wealthy individuals who are fans of coupons.

As a whole, it’s been found that an astounding “71 percent of the affluent use paper coupons every month, with 54 percent using online coupons every month.”

2. They live below their means.

The super rich are also known for living well below their means - even as far as cutting their own hair. One example of this is that they don’t see a vehicle as a status symbol. Instead, they realize that a car serves just one purpose; to get from Point A to Point B.

Sam Walton, the founder of Wal-Mart, famously drove around in a 1979 Ford F150 pickup truck. Walton’s son, Jim drove an older Dodge Dakota despite being worth over $16 billion. Mark Zuckerberg owns a modest $30,000 Acura TSX entry-level sedan, the 61st richest person in the world Azim Premji drove a Toyota Corolla, and Warren Buffett recently sold his 2006 Cadillac, which was noted for not being anything special, for a new model.

Many very rich people live in modest homes. Warren Buffett still resides in the house he bought bought for $31,500 in Omaha, Nebraska in 1958. Mark Zuckerberg, Tim Cook and Christy Walton all live in modest homes.

Ikea founder Ingvar Kamprad, Hobby Lobby founder David Green and former Microsoft CEO Steve Ballmer prefer to fly commercial, and even coach. Bill Gates was known to fly commercial for years. Azim Premji usually stays at company guest houses.

Finally, the wealthy don’t spend money on only luxury clothing. John Caudwell, an auto-shop owner who entered the cell phone business in 1987 and is now worth $2.6 billion, has stated "I don't need Saville Row suits” and "I don't need to spend money to bolster my own esteem.''

In fact, 74 percent of the super rich shop at Wal-Mart, while only 6 percent shop at Brooks Brothers.

3. They are charitable.

One of the more interesting habits that the rich have in common is their willingness to donate a vast majority of their wealth to a charitable cause. Zappos’ Tony Hsieh personally invested $350 million in theDowntown Project to improve downtown Las Vegas. Chuck Feeney, the co-founder of Duty Free Shops, has donated more than $4 billion to disadvantaged children and public health initiatives. Other wealthy individuals including Bill Gates, Warren Buffett, George Soros, Mark Zuckerberg, and Michael Bloomberg have donated huge chunks of their fortunes.

4. They value quality over quantity.

Wealthy individuals aren’t cheap, and certainly are not against enjoying themselves, but they put more thought into their purchases. For example, T. Boone Pickens has said,  “I don’t go cheap on anything, but I’m not a shopper. If I want something, I look at it, decide what it is, but it will usually be the best product. I’ve got a pair of loafers that I still wear that I got in 1957.”

5. They don’t carry wads of cash.

It’s been found that “86 percent of people who spend cash on luxuries like expensive cars, jewelry, and electronics are non-millionaires trying to act the part by purchasing luxury brands.”

Take the advice of oil mogul T. Boone Pickens and carry around only the cash that you need for what you intend to buy. According to Brad Klontz, a CFP professional and associate professor of personal financial planning at Kansas State University, the rich are often "money vigilant.” They avoid credit debt, and “are more anxious about making sure they have enough money and are managing it well.

Murray Newlands

The 5 Times Leaders Should Say No

Leadership requires making decisions. Though we are in an increasingly data-driven world, many decisions a CEO faces are bedeviled by insufficient information, compelling arguments on both sides and passionate advocates you don’t want to demotivate. Over the years, I've learned the importance of saying "no." Not only does turning down initiatives and events free up time but can also help you stay on-point with your business's goals.  

Below I’ve identified five of the most popular "flavors" of no and why you should practice each of them.

1. No to a bad idea

You’d think this one would be simple. “Jack, that’s a bad idea, we aren’t going to do that.” Yet, we have so bought in to the trope that “there’s no such thing as a bad idea,” that we twist ourselves into knots -- and waste a lot of time --  trying to honor the idea, or at least the creator, rather than calling it what it is and moving on.

The more experience and talent there is in the room, the less explanation or handholding is needed and the faster you can get to no. That said, ego and pride of ownership is tied to every idea and managing the emotional aspect of a no is critical. This is particularly important for more junior contributors that have not developed their protective callouses and might require additional coaching.

2. No to a good idea

If your product or service is good, there will be no shortage of ways to expand it -- new features to add, ways to monetize and offerings to attach, to name a few. There may be so many good ideas that you can’t pursue them all at once. That’s where you must be particularly mindful of your business strategy and protective of your resources. Do too many things at once, even if you have the resources, and you can confuse your customers.

Constantly ask yourself, “what are our strategic goals for this quarter/year” and how much does this idea move us forward?” Then say no -- or "later" -- to anything that isn’t going to represent a big leap forward against what you’ve already established is important.

3. No to a client

Clients frequently ask for things that we really, really want to say no to, but we usually don’t.  Sometimes we give them the benefit of our advice with an open invitation to ignore us: “We recommend against that course of action, but…” you get to win because you pay us.

Occasionally, a client will ask for something that will actually hurt your business, as opposed to something simple like a price discount. For example, they will expand their business with you if you give them some sort of exclusivity. When you know you have to put your business before the client, you must say no and hope that they respect you and your business needs enough to accept the answer.

4. No to a seller

You depend on your sales people to keep the lights on and the investors happy. So when one of them tells you they can double their productivity if only X, the rules for saying no to a good idea kick in -- even if it’s a bad idea. This is a special category, though, because a seller is prone to hearing the no and translating it into “we will not give you what you need to succeed here.”

The seller is usually responding to a need expressed by a client (e.g. their current strategy is to buy something different than what we offer and so the seller sees a huge opportunity). Usually, though, the only way to fill the perceived gap is to materially change the current business to be more like another company. The trouble here is deciding whether the need is a new opportunity for the organization or whether it is fool’s errand. In the first case, some of the best ideas come from the folks closest to the customers. However, a new product can just be a "me too" offering that opens your business up to a new set of entrenched competitors. This second case of a suggesting an expanded offering might just be a throw away suggestion given by the buyer to spare a seller’s feelings in response to the question of “how can I win more of your business.”.

5. No to a candidate

As CEO, particularly in a small to mid-size business, you are often the last interview before a hire. The only reason a candidate meets you is because everyone else has given a thumbs up. In most cases, you are not an expert in their skillset so yours isn’t a technical interview, it’s an attempt to get to one central thing: Will this candidate thrive here? Sometimes, the answer is no.

While you may not have to tell the candidate directly, you do have to tell the hiring manager that their finalist cannot work here, for reasons completely separate from what the hiring manager may have prioritized. You can agree that they have the skill, knowledge, experience and still say no. With this no, you are telling your manager that her search isn’t over, she may be back to square one and the problem this hire is intended to solve is going to go on for a while longer.

It’s important that you be able to explain in very human terms what you saw inside the candidate that made you uncomfortable and that you not let the hiring manager rebut your assessment. After all, the hiring manager did pass your test, and your job now is to help them thrive.

Jon Elvekrog

4 Tips to Help Introverts Nail a Presentation

Few of us actually enjoy public speaking but for introverts, it can be devastatingly painful. But just because you're not naturally outgoing doesn’t mean you don’t have a great story to share

As a VC investing in the enterprise-software space -- and technology in general – I have noticed this area tends to attract a high level of introverts. And while many of these individuals are absolutely brilliant and have no problem diving into the details of their product, they struggle in delivering a compelling presentation.

For those who are on the shy side, here are a few presentation pointers geared towards introverts.

1. Prepare. Of course people are going to prepare before they present. My point is that for introverts, preparation can be even more important than for extroverts. Only a high level of preparation will allow your presentation to become second nature. This means understanding absolutely everything on every slide. Better to understand every last number -- market size, financials and sales data -- so if someone wants to go deeper, you can do that without hesitation or clammy palms. The best way to do this is be intimately involved with putting the presentation together (instead of being spoon-fed the info by the marketing department).

Also, use what you’ve learned when pitching customers. You’ve likely encountered questions similar to what investors will ask. Those questions might be more related to product, market and usage than the business, but I think the point stands that those experiences can be very helpful.

2. Practice. We have all heard the old adage, practice makes perfect. For introverts, it not only helps create a flawless presentation but also builds up confidence.

Do as many practice runs as you need. Pitch people who aren’t familiar with your business or with investing. Your parents, friends, a stranger, even your kids are all fair game. You want to get down to the essence of what you do, and make it as simple as possible. Some you can give your elevator pitch, others the entire presentation. If they understand it, then your potential investors will, too.

Also, do some “warm up” pitches with VCs who aren’t in your target market but would be open to offering feedback. Ask your network to connect you with someone who’d be willing to do this. It’s the closest you’re going to get before you do the real thing, and it will feel just as real as if you were pitching to your target investor.

3. Condense. Keep it simple. A good rule of thumb is to keep your presentation to about 45 minutes. This way, you will leave room for a Q&A session at the end. This approach typically benefits introverts, because the presentation morphs into more of a conversation.

You can, of course, also elicit questions throughout the pitch. The only downside to that is if you’re really prepared to deliver your pitch in a certain way, questions in the middle can lead to derailment. When you’re practicing with other people, encourage them to ask questions whenever they like, so you get used to it.

I also recommend keeping the deck slides simple: They’re there to support your points, not to deliver your narrative. Use graphics, diagrams and bullet points on the slides, but keep your notes separate.

4. Focus. One way to do this is use your product in your pitch. This is a great way to feel less like you’re pitching and more that you’re showing off your product -- the same as if you were doing a demonstration of its great features and benefits. When the focus is on the product, you’ll see that it drives a lot of business-oriented questions. Who’s using it? Who’s buying it?

Second, if you know you’ve got a weak spot bring in some help. For instance if your go-to-market is a weakness, bring along your head of sales and marketing who can talk to those points. Not only can these people speak in an area they are experts in (a tactic that can increase the value of the conversation) but potential investors also get to see your team

That said, I would caution to keep your presenting group down to one or two extra people.

I really think that introverts have nothing to worry about when it comes to doing presentations because, we’ve all been there, we get it. Everybody gets nervous to some extent when they have to speak in public. So I want to reiterate that with thorough preparation, practice and focus, you can go a long way to calming those nerves.

Ricky Pelletier

The 5 Decisions That Will Change Your Life Forever as an Entrepreneur

                   

                                                                                                                                              

Becoming an entrepreneur is a huge deal. It’s not a decision to be taken lightly. But because the choice to transform into a business ownerhas been so heavily glamorized over the past decade, many people feel surprised and guilty about the fact that it can actually be a pretty tough choice to make. There’s no doubt about it -- once you’ve made up your mind to take the plunge and live as an entrepreneur, your life will never been the same.

In particular, here are five decisions that’ll change your life forever as an entrepreneur:

1. The decision to become an entrepreneur.

The actual decision to join the rapidly growing number of entrepreneurs is a life-changer in and of itself. So many things come along with choosing to go it alone in business -- some good, and others not so much.

But one thing is clear: once you’ve made the choice to join the club, that’s something that nobody else can take away from you. Sure, you can choose to return to work for someone else as an employee, but you’ll never truly stop being an entrepreneur. Once you've had a taste, you’ll never be able to forget.

2. The decision to never stop improving.

A hallmark trait of entrepreneurs is their perpetual discontent. Most of the time, this is a good thing. As an employee, you’re performing to meet standards. As an entrepreneur, you’re continuously looking to make things better, to improve on the present and to slash the status quo.

You won’t be able to see things simply at face value anymore. The urge to figure out why and how to improvise or redesign what you’re currently experiencing will never go away. Entrepreneurship places an insatiable desire for “better” within you.

3. The decision to dive full time into your adventure.

Many of us who take the plunge begin by running a business on the side. This is the smart and safe approach, so to speak, and it’s not surprising that a large number of people take it. But the day will come when you’ve had enough, or an opportunity is brought before you that you simply can’t turn down. So you cut other ties that are holding you back, and choose to set sail into the ocean of full-time entrepreneurship. The new waters you now find yourself in will bring with them more stress, but also more freedom than you’ve ever imagined.

4. The decision to never give up.

Failing and giving up are two very different things. Events that you’ll perceive as failures will come. They’re the unavoidable part of every entrepreneur’s story. Yet, we still carry on.

Despite, as Edison said, “finding 10,000 ways that won’t work,” we keep looking for the one way that does. The decision to never give up changes your life forever, and will always make you different from those around you. Even if entrepreneurs die before starting a successful business, they simply ran out of time -- they never gave up.

5. The decision to give back.

One of the greatest things about being an entrepreneur is the opportunity to give back in a bigger way. Choosing to view the world based on who you can help is a life-changing decision. You notice the people that helped you see your calling. There are those that saw you through the first few tough times of your venture, friends, family and charitable causes. Even the people who are just beginning right now need a helping hand from someone who knows what it’s like going it alone in business.

It’s an amazing feeling to know you’ve arrived as a success, but as you’re told when you’re a kid, “it’s better to give than to receive.” Some of the most exciting times of my life have come from embracing the chance to change someone’s life as an entrepreneur, and I’m grateful for having been privileged enough to have the opportunity to do so.

Entrepreneurship comes with all different types of paths and all different types of challenges that are different from anything else you’ll experience as an employee. Almost any decision you can make in life can be changed, but there are some you’ll make in your entrepreneurial journey that mean you’ll never again be the same.

Choose wisely. With a single decision, you have the power to change your life forever.

Sujan Patel

Why Honesty and Integrity Really Do Matter

It’s OK to break the law. I’ve done it countless times, mostly when I was younger, but I still do occasionally. Don’t sound so surprised; just about everyone does. I still speed, for example, but not nearly as much as I used to. It seems the older I get, the less I’m in a hurry to get where I’m going.

I once had a tax accountant who did some shady things. When I found out, I fired him. After all, if he’s willing to defraud the government, why stop there. I simply didn’t trust him. Besides, he was just a lousy accountant.

These days, my long-time personal and business accountant and I keep everything above board, and with good reason: When it comes to things that really matter – my family, career, and business – I play by the rules, and that’s worked out pretty well, to say the least. But the reasons why are not as obvious as you’d think.  

There’s a big misconception about white-color crime. Everyone seems to think that executives and business leaders have recently lost their moral compass vis-à-vis Enron, WorldCom, Madoff, and all the other corporate scandals since the turn of the millennium, but that’s simply not true. That stuff’s been going on forever.

Most of my time as a senior executive and corporate officer of various public and private companies came before all that, and, let me tell you, there was no shortage of opportunities to stray. Insider trading, stock-option backdating, conflicts of interest, accounting fraud, financial fraud, antitrust violations, patent infringement, corporate corruption, cronyism – you name it, I’ve seen it up close and personal.

I’ve known quite a few otherwise honest people who, for whatever reason, were drawn to the dark side. I knew Raj Rajaratnam when he was an analyst at Needham. One day he told me he was quitting to run a hedge fund. Today, the billionaire Galleon Group co-founder is serving an 11-year prison term for insider trading, a scandal that ensnared executives and directors from IBM, Goldman Sachs, McKinsey, and Intel Capital.   

The question is, why? Not why do successful people often fall into those traps? I think that angle’s been beat to death. We’re all so quick to judge others as evil and greedy when, given the chance, many of us would do the same thing. I think the more relevant and actionable question is why haven’t I and, by extension, why shouldn’t you?

I bet I know what most of you will say. It’s about ethics. That may be true but it doesn’t explain where those ethics come from. We’re certainly not born with them. Needless to say, I’ve pondered this question for years and come up with three reasons. The first one is an emotional factor that relates to role models.  

There were a series of episodes growing up where my dad – a strict disciplinarian with an unassailable work ethic – surprised the heck out of me by responding positively when I thought he’d go ballistic. I once confessed to stealing candy from a local shop and he commended me for being honest. And when I was accused of lying by another kid’s father, he stood up for me, saying, “Steve may be a lot of things but he’s not a liar.”  

Fast-forward a decade or so. I spent the first six years of my career as an engineer with Texas Instruments. My managers were all salt of the earth people who were incredibly generous with their time, especially when I was stuck or troubled by a tough dilemma. Their doors were always open, their advice genuine, and their manner encouraging, even when I screwed up. 

When we face people we respect and admit to failure or confess to bad behavior, how they respond makes all the difference. When they show faith in us despite our issues, that resonates with us emotionally. It makes us want to earn their respect and deserve their faith. It sticks with us. And it shapes our behavior going forward.

The logical factor is a very practical one: dishonesty is more trouble than it’s worth.

Lying or stretching the truth is actually a real pain in the butt. Even exaggerations have a way of growing and taking on a life of their own. Before you know it, you’re constantly looking over your shoulder and covering your tracks. It’s exhausting. And, more importantly, it’s a house of cards that eventually comes tumbling down.

Simply put, dishonesty is an inherently flawed and unsustainable model.    

The third factor is karma. I’m not talking about karma that helps you in your next life; I’m talking about karma that helps you in this one. Try as we might to tell ourselves that we have good motives behind our bad behavior, on a subconscious level, we always know what we’ve done. And it plagues us.

If, on the other hand, we’re so delusional and adept at compartmentalization that we don’t have to face the truth about what we’ve done, trust me when I tell you, that’s no picnic either. Either way, I’m pretty sure that people who do bad things live in their own personal hell.

To summarize, there are three reasons why you should always play it straight:

1. To earn the respect of those you respect.
2. Dishonesty is inherently flawed and unsustainable. 
3. What goes around really does come around.                                                                                                                                                  Steve Tobak

13 Behaviors That Prevent You From Moving Up in Your Career

You want the coveted title, the nice office and all the perks that come along with them. So what do you need to do to get there? In fact, it may not be what you need to do, but rather, what you need to not do to advance your career.

Here are 13 behaviors in particular that leave you stuck in a career rut:

1. Showing up late.

Stayed up too late watching your favorite TV show and now you can’t get out of bed when your alarm clock goes off? That’s what services such as Netflix and Hulu are for. You don’t have to stay up to catch the latest episode. Get to bed on time so that you’ll be ready to go on time in the morning.

2. Only doing what you’re paid for.

From time to time, you’ll be asked to do things that aren’t in your job description. Turning them down won’t keep you from getting a paycheck, but it will keep you from proving you’re ready for the next step. Only doing what you were hired to do communicates to your boss that you’re content at your current level.

3. Networking only within your company.

You may work for a great company, but there are other great ones out there too -- and they may be looking for someone to step up and fill the kind of position you dream of. You’ll never know about it unless you talk to people at other companies, so be sure you’re using LinkedIn and other online networks to  supplement your in-person communications.

4. Staying home.

You’re required to be at your desk during office hours, but what about the company picnics, the get-togethers and the Christmas party? No, you won’t be paid for them, but going to extracurricular functions shows your boss you’re a team player. Unless you absolutely cannot make it, start going to the “outside-the-office” social functions related to your job.

5. Relying on your former education.

Too many people get through their required training and then stop learning. To rise above everyone else in both title and pay, you have be continually learning new skills and improving yourself. This doesn’t have to mean going back to school. You can attend workshops, ask mentors and continue your education to gain new skills that’ll help launch you into your next role.

6. Waiting on someone to find you.

Yes, recruiters are out there, but relying on them to find you amongst everyone else will kill your ability to move up. Make yourself known. Tell them about yourself and why you’d be an asset at a higher-level position. If you want to move up within your company, make it known that you’re looking for advancement and actively seek opportunities, instead of waiting for them to be handed to you.

7. Working alone on your goals.

We all need a little help sometimes. Other people can see things in us that we can’t always see ourselves, allowing them to offer a perspective that’s much different than our own. If you need help, there are coaches out there that specialize in career advancement, such as a resume or small-business coach.

8. Failing to follow through.

Sometimes, you’ll receive difficult tasks that’ll test you in various ways. No matter the task, if you say you’ll do something, make sure you deliver. Failing to do so, even in the face of obstacles, will cut short your ability to advance your career.

9. Being passive.

You don’t want to be known as the hothead of the office, but it’s no better to be the wimp. Voice your opinions and showcase your work. Your boss may not know your worth if you never demonstrate it.

10. Keeping your dreams to yourself.

Tell other people your plans. It helps you be accountable for them, and it also opens the door for them to help you. Keeping quiet about your dreams will ruin your chances of making the key connections needed to move up.

11. Having the reputation of “just another guy in the office.”

Average workers don’t get promoted. Work hard and become the go-to guy for projects and special assignments. Being “just another employee” will damage your ability to advance.

12. Staying in your comfort zone.

Promotions will often take you outside your comfort zone, so be prepared. Take on things you aren’t sure you can handle and find ways to do them anyway. Staying comfortable might sound nice, but it won’t help you advance your career.

13. Reading and hoping instead of doing.

Columns such as this one are published every day, but reading them is a waste of time if you don’t take action. Failing to take action ensures you’ll stay right where you are, killing your upward momentum.

What are you doing today to move up in your career? If there are any other career-killing habits you want to draw attention to, let us know about them in the comments section below.

Sujan Patel

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Talk the Talk for your Industry

Even if you lead & train others in your industry, your tone & verbiage can effect your credibility. Here are 9 phrases that make you sound less experienced than you are - http://on.mash.to/1Lsxvzs

12 Things Truly Confident People Do Differently

Confidence takes many forms, from the arrogance of Floyd Mayweather to the quiet self-assurance of Jane Goodall. True confidence—as opposed to the false confidence people project to mask their insecurities—has a look all its own.

When it comes to confidence, one thing is certain: truly confident people always have the upper hand over the doubtful and the skittish because they inspire others and they make things happen.

“Whether you think you can, or you think you can’t—you’re right."
--Henry Ford

Ford’s notion that your mentality has a powerful effect on your ability to succeed is manifest in the results of a recent study at the University of Melbourne that showed that confident people went on to earn higher wages and get promoted more quickly than anyone else.

Learning to be confident is clearly important, but what is it that truly confident people do that sets them apart from everyone else?

I did some digging to uncover the 12 cardinal habits of truly confident people so that you can incorporate these behaviors into your repertoire.

1. They Get Their Happiness from Within

Happiness is a critical element of confidence, because in order to be confident in what you do, you have to be happy with who you are.

People who brim with confidence derive their sense of pleasure and satisfaction from their own accomplishments, as opposed to what other people think of their accomplishments. They know that no matter what anyone says, you’re never as good or as bad as people say you are.

2. They Don’t Pass Judgment

Confident people don’t pass judgment on others because they know that everyone has something to offer, and they don’t need to take other people down a notch in order to feel good about themselves. Comparing yourself to other people is limiting. Confident people don’t waste time sizing people up and worrying about whether or not they measure up to everyone they meet.

3. They Don’t Say Yes Unless They Really Want To

Research conducted at the University of California in San Francisco shows that the more difficulty that you have saying no, the more likely you are to experience stress, burnout, and even depression. Confident people know that saying no is healthy, and they have the self-esteem to make their nos clear. When it’s time to say no, confident people avoid phrases such as “I don’t think I can” or “I’m not certain.” They say no with confidence because they know that saying no to a new commitment honors their existing commitments and gives them the opportunity to successfully fulfill them.

4. They Listen More than They Speak

People with confidence listen more than they speak because they don’t feel as though they have anything to prove. Confident people know that by actively listening and paying attention to others, they are much more likely to learn and grow. Instead of seeing interactions as opportunities to prove themselves to others, they focus on the interaction itself, because they know that this is a far more enjoyable and productive approach to people.

5. They Speak with Certainty

It’s rare to hear the truly confident utter phrases such as “Um,” “I’m not sure,” and “I think.” Confident people speak assertively because they know that it’s difficult to get people to listen to you if you can’t deliver your ideas with conviction.

6. They Seek Out Small Victories

Confident people like to challenge themselves and compete, even when their efforts yield small victories. Small victories build new androgen receptors in the areas of the brain responsible for reward and motivation. The increase in androgen receptors increases the influence of testosterone, which further increases their confidence and eagerness to tackle future challenges. When you have a series of small victories, the boost in your confidence can last for months.

7. They Exercise

A study conducted at the Eastern Ontario Research Institute found that people who exercised twice a week for 10 weeks felt more competent socially, academically, and athletically. They also rated their body image and self-esteem higher. Best of all, rather than the physical changes in their bodies being responsible for the uptick in confidence, it was the immediate, endorphin-fueled positivity from exercise that made all the difference.

8. They Don’t Seek Attention

People are turned off by those who are desperate for attention. Confident people know that being yourself is much more effective than trying to prove that you’re important. People catch on to your attitude quickly and are more attracted to the right attitude than what, or how many, people you know. Confident people always seem to bring the right attitude.

Confident people are masters of attention diffusion. When they’re receiving attention for an accomplishment, they quickly shift the focus to all the people who worked hard to help get them there. They don’t crave approval or praise because they draw their self-worth from within.

9. They Aren’t Afraid to Be Wrong

Confident people aren’t afraid to be proven wrong. They like putting their opinions out there to see if they hold up because they learn a lot from the times they are wrong and other people learn from them when they’re right. Self-assured people know what they are capable of and don’t treat being wrong as a personal slight.

10. They Stick Their Necks Out

When confident people see an opportunity, they take it. Instead of worrying about what could go wrong, they ask themselves, “What’s stopping me? Why can’t I do that?” and they go for it. Fear doesn’t hold them back because they know that if they never try, they will never succeed.

11. They Celebrate Other People

Insecure people constantly doubt their relevance, and because of this, they try to steal the spotlight and criticize others in order to prove their worth. Confident people, on the other hand, aren’t worried about their relevance because they draw their self-worth from within. Instead of insecurely focusing inward, confident people focus outward, which allows them to see all the wonderful things that other people bring to the table. Praising people for their contributions is a natural result of this.

12. They Aren’t Afraid to Ask for Help

Confident people know that asking other people for help won’t make them seem weak or unintelligent. They know their strengths and weaknesses, and they look to others to fill the gaps. They also know that learning from someone with more expertise is a great way to improve.

Travis Bradberry

9 Intangible Assets Dominant Entrepreneurs Possess

Lose your degree. Years of experience can never fully convey your overall worth. There have to be more effective ways to display your value to a potential employer and to the business world at large.

Plain and simple, the resume is old and broken. It hasn’t had a major overhaul in nearly 380 years and it’s time to disrupt how job-seekers and hiring managers find the best candidates to fill positions. Our higher education system is a mess, and online schools continue to challenge the education model. Yet, we still use these same archaic methods for sourcing the right people by only scrutinizing education and years of experience through resumes. Blah!

Conversely, if you're an outlier with ridiculously high talent, unconventional education and little experience (or any combination thereof. For example, a 21-year-old self-taught hacker with no formal education and one year of "job experience."), this broken process makes it even more difficult for you to be discovered.

I’ve been obsessed with studying successful entrepreneurs and found that many have intangible qualities that wouldn’t, or couldn’t, be expressed on a standard resume. In addition, some entrepreneurs even had seemingly negative marks against them (by worldly standards at least) such as dropping out of college, not being able to hold a job, getting fired and unflattering social-media activity.

Here's a list of nine intangible assets that entrepreneurs possess:

1. Ingenuity

You ever hear the saying, being an entrepreneur is like building the bridge as you walk across it? This refers to those entrepreneurs who always answer “yes” when asked if they can do something (even if they have no clue and figure it out as they go). They are the first to volunteer for the seemingly undoable tasks. They do it with confidence, because they believe that they can accomplish anything they put their minds to, even if they have no idea what they are doing.

2. Stubbornness

I’m referring to good stubbornness. These are the “I won’t take no for an answer” people. These people love a challenge and will get back up even if they fall 100 times because they know they are one step closer to getting the result they want. Giving up is not an option.

Here’s a good example:

Kellee Khalil created Lover.ly, a visual search engine and cloud scrapbook for everything wedding-related. According to Business Insider, "One week before Kellee Khalil launched her wedding startup, she received a coffee invitation from a business strategist at a top bridal site. 'We have $70 million to buy competitors just so we can shut them down,' Khalil was told."

Unfazed by the message, and maybe even in spite of it, she has gone on to to build a wedding-site juggernaut where users now view more than 40 million images each month and have “loved and bundled” more than 400 million wedding details.

3. Cool under pressure

This is a tough skill to effectively measure on a person’s resume or LinkedIn profile.

Too many people are brilliant but can’t hang in the real world. They collapse under the first sign of adversity. Others can handle a decent amount of pressure before they crumble, but true A players thrive under pressure. It brings out the best in them. These are the entrepreneurs who seem to pull off the impossible.

4. Their network and peers

It sounds strange, but a person’s peers show a lot about who they are. People typically like to hang around others with the same interests and motivation levels. The saying goes that “you are the sum of five of your closest friends.”

It is the reason Entrepreneur’s Organization is so effective, and partly why LinkedIn exists.

5. Perseverance

Frederick Hutson did four years in the state penitentiary. That alone would dissuade most individuals from even thinking about starting a company, let alone attempt to disrupt an industry as big as the state prison system itself. He has since created a company, called Pigeon.ly, that provides inmates and their families with discounted phone calls and photo sharing.

The company boasts of supporting 2 million minutes per month on phone calls and a quarter-million photo shares. Pigeon.ly was recently accepted into Silicon Valley’s most prestigious accelerator, Y Combinator, and appears to have a very bright future.

Related: The 10 Qualities of Exceptional People

6. Vision

Vision is an undeniably key trait for successful entrepreneurs. Sometimes vision can be the result of having such extensive knowledge of an industry, technology or market that the entrepreneur almost seemingly knows what the world wants. Noah Kagan's vision with SumoMe, and its explosive growth is a perfect example. 

The other type of entrepreneurs' vision, that marks greats such as Steve Jobs and Elon Musk, is to bend the world to their vision.

7. Blind optimism

Justin Barr sold his company, Tapit, for $23 million. He was so blindly optimistic that he slept in his office and pulled all-nighters while working his butt off. He explains, “I just felt something, and went for it.” It didn’t matter what anyone else was doing in the space, he built a product he “knew” was going to be successful. He contributes his “blind optimism” towards his company’s success and ultimate acquisition. 

8. Opportunistic

I recently read about the publicity stunt Tucker Max and Ryan Holidaywere able to orchestrate during one of Tucker’s book launches. Long story short, Tucker was denied the opportunity to make a sizable donation to Planned Parenthood, but despite this, he was able to leverage the controversy into millions of new page views, website traffic and tens of thousands of social-media shares.

The pair saw an opportunity, and leveraged it to the hilt.

9. Execution

Career Sushi has more than 10,000 internships available with companies nationwide including Warner Music Group, Billboard, FunnyorDie.com, Gary Sanchez Productions, Lionsgate Entertainment, Michael Stars and Draftfcb. It is the brainchild of Shara Senderoff, a film industry executive and producer who was determined to fix what she saw as a broken process for hiring interns.

Here’s what she had to say in an interview, “My mindset from a very early age has always been 'to figure everything out and no matter what, find a solution.' I was born a problem-solver. I believe my 'find a solution' attitude has allowed me to set an example to those around me. I've learned to execute, execute and execute again and I don't think I'd have become the leader I am today if I didn't approach everything I do with the belief that I can always be better.”

My co-founder and I believe the traditional model of judging a person's professional worth is broken. That is exactly why we created Intangibly, and feel that this is arguably the most important factor. 

I leave you with this great Jobs quote:

Here's to the crazy ones. The misfits. The rebels. The troublemakers. The round pegs in the square holes. The ones who see things differently. They're not fond of rules. And they have no respect for the status quo. You can quote them, disagree with them, glorify or vilify them. About the only thing you can't do is ignore them. Because they change things. They push the human race forward. And while some may see them as the crazy ones, we see genius. Because the people who are crazy enough to think they can change the world are the ones who do.

Andrew Medal

Stop Saying You Don't Have Time to Start a Business. Make Time With These 6 Tips.

Think of how many amazing business ideas are left on the shelf to collect dust because they are not pursued. Dreams are left to die because their creators assumed that he or she didn’t have the time to start a business. What a horrible excuse.

If you have an idea for a business, go for it. Why? Because if you don’t, you are going to regret it and you might be passing on a truly amazing experience.

“I’ll start it next year.” What if there isn’t a next year?
“I’m not sure if now is the time.” If you don’t do it, someone else will.
“I don’t have the time now.” Make the time.

Here are six tips to help you start a business, even if you have a full-time job or feel like you don’t have the time.

1. Wean yourself off social media.

What did Richard Branson or Mark Cuban have for dinner last night? Who was their #WCW? What #TBT picture did they post this week? You probably aren’t going to find the answers to these questions -- they aren’t glued to social media 24/7 like 99 percent of the population. 

There is nothing wrong with social media, but if you are serious about starting a business, think of how much extra time you could round up if you scaled down your social-media use. You don’t have to quit cold turkey, but less hashtags and more time devoted to bringing your business idea to life will help you realize your dream.

2. Stop watching marathon sessions of TV shows.

I have a confession to make -- I have never watched a single episode ofGame of Thrones. Seriously. I wish I had a dollar for every time I heard someone mention a “Game of Thrones marathon” when asked what their plans were for the evening or weekend.

I know people that constantly talk to me about how they would love to start a business and complain about not having extra time -- the same people that piss away hours every week watching reruns of a TV series they have already seen multiple times. I can’t comprehend that thought process. Cut back on TV binging and watch how much extra time you now have for your business.

3. Organize personal errands.

Everyone has personal errands and responsibilities -- there is no way around them. While you can’t avoid things such as grocery shopping, trips to the bank, shopping and other miscellaneous errands, you can structure them in a way that makes you more efficient.

When you have structure, it eliminates wasted time trying to figure out when to get tasks accomplished. For example, do your grocery shopping early on Tuesday mornings after the gym and hit the post office on Wednesdays on your way home. A very simple, but concrete, personal errand schedule will free up a lot of extra time that was once wasted trying to schedule these little tasks.

4. Wake up early and stay up late.

Anyone can start a business, even those that are currently working a full-time job. Do you currently wake up at 8 a.m. just in time to shower and make it to your job at 9 a.m.? Then wake up at 6 a.m. and work on your business idea for two solid hours.

A full-time job is just an excuse -- if you want it bad enough you will make sacrifices. I hear many people say they can’t find extra time because they have a family and small children. When you get home from work, play with your kids, eat dinner with the family and then switch into business-building mode after you put the little ones to sleep. Nobody said it would be easy, right?

5. Set realistic goals.

It’s important that you set realistic goals for yourself from the very beginning. If you can only dedicate one hour to your business every day, then so be it. Understand that it will take longer, but if you are constantly picking away at small goals that help you reach your main goal, you are going to eventually get there. Start now.

The worst thing you can do is continue to make excuses. Imagine if you said, “I’ll start my business when I have more free time” every day to yourself for six months. You would waste 180 hours that could have been dedicated to your business.

6. Convert "downtime" to "business-development" time.

If you take public transportation to work every day, allocate that time to your business. Instead of playing Candy Crush Saga on your phone while you ride the subway, use that time to complete small tasks related to your business. 

Rather than leaving the office to grab lunch, pack a lunch and eat it at your desk while you work on your business. Even just an extra 30 to 45 minutes per day is valuable time invested in your business dream. Run through your typical day in your head and find downtime that you can convert into a more productive and beneficial block of time.

When you decide to take the plunge and start a business, check out my company’s online-marketing blog for free tips and consider joining myprivate business forum.

What did Richard Branson or Mark Cuban have for dinner last night? Who was their #WCW? What #TBT picture did they post this week? You probably aren’t going to find the answers to these questions -- they aren’t glued to social media 24/7 like 99 percent of the population. 

There is nothing wrong with social media, but if you are serious about starting a business, think of how much extra time you could round up if you scaled down your social-media use. You don’t have to quit cold turkey, but less hashtags and more time devoted to bringing your business idea to life will help you realize your dream.

Jonathan Long