Entrepreneurs Should Aim to Improve This One Ability to Gain a Huge Advantage

When Bill Gates and Warren Buffett were asked in September 2005 at the University of Nebraska what superpower they would love to have, Gates answered: "Being able to read super fast -- that'd be nice."

Buffett added, amused, "I probably wasted 10 years reading slowly."

It has been roughly 10 years since that interview, but the rate of change in the world hasn't slowed. You've probably heard the expressionleaders are readers before, but here in the information age, there has never been a greater need for entrepreneurs to rapidly consume new information on topics such as technology, business, leadership and the industries in which they operate. 

Unless you want to risk your business becoming a Blockbuster in the age of Netflix or a MySpace in the age of Facebook, you have to stay up to date with the constant shifts and developments that are taking place in strategies and methodologies as well as technologies and tools.

What is the superpower every entrepreneur needs? Speed reading.

Here is a closer look at how you can boost your reading speeds while also increasing your absorption and retention.

Why absorbing more information is important.

It isn't enough to be able to read fast. If you can go through a 250-page book in an hour, but can't remember anything you read afterwards, then you've just wasted 60 minutes of your most precious resource.

If you want to make the most of your time, then you want to be able to read fast and filter through and remember critical information.

Most entrepreneurs agree that we are in the age of information overload, but that doesn't excuse us from continually studying, learning and growing. If we rest on our laurels and rely on past successes and victories, we'll stop our forward momentum.

Information overload isn't an invitation to cease all learning. Rather, it is a call to be selective about what you're learning. Choose your material wisely, because no matter what you end up reading, you can't get your time back later.

An experienced entrepreneur has a do-what-it-takes mentality, and that's exactly what's required of you when it comes to learning too. If you continue to learn, you'll be better poised to take advantage of new opportunities. You'll be better able to adapt to new developments.

If you're a return-on-investment-minded entrepreneur, then you already understand what this is all about. If you're going to read anyway, you might as well get the greatest ROI out of what you read and get yourself to the point where you can learn more and pick up more skills along the way. This will quickly transform you into a more influential leader, fully equipped to take your business to the next level.

How fast do you read? Here are some stats.

The fastest reader in the world is Howard Stephen Berg, who is recognized by the Guinness Book of World Records. Berg has not been out-read by anyone since 1990, and he reads at an astounding 25,000 words per minute. He even writes at 100 words per minute.

Berg says the greatest advantage of being the world's fastest reader is that he can learn any skill he wants to, living a life "without any limits." Wouldn't you love to live a life without limits? Wouldn't you love to be able to pick up new skills on the fly?

Compare this to the average adult, who reads roughly 300 words per minute, high-level executives who read at 575 word per minute and college professors who read at an average of 675 words per minute. On average, speed readers consume 1,500 words per minute.

How fast do you read? How do you stack up? If you'd like to find out, try taking this online speed reading test.

IPhone apps to help you speed read.

Whether you found that your reading speed was "just average" or excellent, there is always room for improvement.

Here are four iPhone apps you can use to start training yourself.

1. QuickReader is an ebook reader as well as a speed reading app. It helps you to break old habits that might be holding you back. The app's main function is to help you to stop looking at one letter or one word at a time, and to show you how to consume multiple worlds simultaneously.

2. Read Quick is an app that integrates with Instapaper. It keeps track of your stats, including how much you read and how fast. According to its developers, the more you read, the faster you'll get. With Read Quick, you can measure your progress as you continue to get more practice.

3. Outread is similar to QuickReader in that it highlights sections of text, training you to absorb sections instead of one word at a time. It's easy to waste time reading portions of text you've already read, and Outread helps you overcome that common challenge.

4. Acceleread offers guided courses, lessons and techniques on how to read faster. The app also tracks your reading speed, as well as comprehension. The developers say that most people are only reading at a third of their full potential. Imagine how fast you could read if you learned the right techniques.

Obviously, no matter what you're reading or researching, the ability to speed read will help you consume and absorb more information than ever before. You'll be able to keep up with your industry, learn new marketing techniques, study classic personal development material and read some of the best books for entrepreneurs at a faster rate than you were ever able to before.

Thomas Smale

5 Ways to Build Your Personal Brand Every Time You Speak

Entrepreneur and CultureIQ are searching for the top high-performing cultures to be featured on our annual list. Think your company has what it takes? Click here to get started.

If the first thing people notice about us is our appearance, the next notable impression is how we sound. Successful entrepreneurs succeed by speaking slightly differently than the average person. Whether you’re convincing a prospect to become a client, influencing a customer to see your point of view, or inspiring colleagues to do their best work, it’s wise to master the art of persuasion.

Effective communication is an essential tool in every successful person’s skill set. Here are five ways to tap the powerful conversational tactics and influence people.

1. Speak from knowledge and power.

If someone asks you a question and you don’t know the answer, don’t just say “I don’t know.” Instead, say something that shows what you doknow. For example: “Debbie is the real expert on this subject, so let’s loop her into this conversation to see if she can help us answer this question.”

That response bolsters your credibility by showing you are actively engaged in solving the problem and that you know how to get information by accessing your colleagues’ expertise.

Related: The 6 Elements of Persuasion (Infographic)

2. Move the conversation forward.

When you encounter obstacles, ask your team members, “What else can we do now to take another step towards a solution?” Solicit their ideas and listen to their answers, even if they seem far-out or impractical. This encourages people to open up and share what's on their mind. Someone on your team may have the unique knowledge and talents to see the challenge through new eyes or a new angle.

3. Express empathy.

Showing people that you understand and appreciate how hard they work goes a long way toward earning their respect and getting them to value your abilities. Do this by actively listening to their concerns and reflecting their perspective back to them. Employ sympathetic body language (like leaning forward and maintaining direct eye contact) during conversations to show that you are concentrating to what they’re saying. Use phrases like “That sounds challenging” and “I hear what you’re saying” to promote connection. 

4. Convey confidence in yourself and others.

Whenever anyone critiques you, gracefully accept their comments by thanking them sincerely for honestly sharing their views, even if you disagree with their opinion. That response shows you are secure enough to welcome any feedback that could improve your performance, and mature enough to act on it if applicable.

On a similar note, instead of criticizing people for their shortcomings, empower them with constructive compliments like “You’re doing a great job on ____” or “I know you can do this.” Positive reinforcement encourages colleagues to reach for their full potential.                     

5. Give credit where it’s due.

Acknowledge other people’s achievements and demonstrate that you value everyone’s contributions and want them to be recognized. For example, when you say, “This was an amazing team effort. I couldn't have done it without you,” it reveals a lot about the kind of person you are. It conveys modesty, generosity, caring and other positive qualities that make people want to work with you again.

Communication is about connecting people so they can work effectively together toward a common goal. By being honest and open, you’ll earn respect and increase your power to have a positive influence on others and the world.

Jacqueline Whitmore

This One Habit Holds Top Leaders Back

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Hit a wall? So many ambitious and talented leaders plateau and even regress once they “reach the top” of the ladder, mountain or organizational structure they’ve been climbing. There’s a simple reason this can happen, and it sometimes come down to conversation.

Top leaders still face new mountains to climb – engaging a broader audience of potential partners – both inside and outside the company to make change happen. While some top leaders tend to be great talkers, and are natural pitchmen for their visions and strategies, many plateau when it comes to connecting deeply. They’ve learned to talk at people, not with them, and it can hold them and their projects back.

To reverse course, you must tap into Conversational Intelligence, a framework for knowing which conversations trigger different brain activities for constructive communication. Research has shown that engaging conversations trigger the brain’s prefrontal cortex, a section that enables trust and good judgement, reducing fears and threats. This opens the door to more innovative and creative results with others, now and in the future. When people co-create – they feel ownership for the results; they feel more accountable, they are willing to work harder to bring the ideas to fruition and they produce higher levels of productivity at work. Through co-creating conversations, we can connect with others in healthy and productive ways, something vital for mutual success.

Leaders looking for their next step would do well to remember the word “aspire” has a Latin root: “to breathe.” To achieve more, ideas need to flow freely and to fuel us. We can then breathe in a coherent, collaborative way we aspire together, and our capabilities increase.

To ensure you’re engaging in co-creating conversations, apply these four tips.

1. When you meet someone new.   Say, “I’m so glad I met you!” Or “You look familiar!” Our brains are designed to be social. The need to belong is more powerful than the need for safety. Feeling rejected activates our fear networks and increases the level of cortisol, which moves us into protective behaviors. A sense of inclusion reduces protective cortisol levels while increasing oxytocin and promoting bonding. 

2. When you brainstorm with a diverse group. Say, “thank you” or “That’s a great point.” Reaching out to connect and appreciate others’ perspectives, even if you don’t agree, elevates trust, or feeling like a friend, thus creating a larger framework for thinking together. Make sure to appreciate others’ contributions, comment on how their idea has helped you, and let them know how much you appreciate their thinking. Appreciation reshapes our neural networks, activating a larger framework of neurons in our brain that enables higher levels of seeing, hearing, and thinking broader and bigger.

3. When you want to persuade someone. Say nothing – at first. Put yourself in your listener’s shoes. Empathy activates the mirror neuron network located in the prefrontal cortex or Executive Brain. When we mirror each other, we can see and experience the world through each other’s eyes. This activates higher oxytocin production, which facilitates bonding, collaboration and co-creation and elevates trust and openness. We become comfortable sharing what is really on our minds.

4. When you need to solve a difficult problem. Say, “Tell me your thoughts,” and listen to connect. When we are uncertain, both the distrust and trust networks are activated at the same time. We more easily fall into groupthink to be safe in the crowd, or we close up for fear we will look weak. Make it safe to be transparent about what you are uncertain about. Don’t penalize those who speak up – encourage them to share. Conversational Intelligence is the ability to master the power of connection to enhance your relationships and gain better business and personal results.

Remember, Conversational Intelligence helps you become smarter at navigating your social highway. It’s not about how smart you are, but how open you are to learning effective conversational rituals that prime the brain for trust, partnership, and mutual success. Entrepreneurs who put relationships before tasks can build bridges for connection that lead to real greatness.

 Judith E. Glaser

Make the Most Out of Your Weekend

It's almost time to relax and have some weekend fun! Here's how to get the most out of your weekend! #business http://huff.to/1IM7jOT

Lateness - What it says to others and how to nip the habit

Part of Global Marketing Concepts training module goes over the essentials of punctuality.Timeliness speaks volumes about someone's ability to be organized. Beyond organization, when someone is on time it says to others they are considerate of their time and value the event they are attending. If you are finding yourself chronically late here are some tips that will help you break your untimely behavior:

1. Own your behavior and habit - Stop making excuses about the why's and what's as to why you were unable to make a meeting or gathering. Reflect on your day to day and see where you are wasting most your time.
2. Plan your daily and weekly schedule - Having a game plan and agenda for what you are going to be doing on a daily basis. If you create time blocks for yourself you will be setting yourself up for success.
3. Alarm clocks - see them as a investment, not as a nuisance. Purchase at least two to get you moving, and set them at least 15 minutes prior to when it is you need to be leaving your home as a last minute warning to gather and go. If getting up out of bed is your issue, go to bed earlier and set your alarm clock a good distance away from where you sleep.
4. Your image and personal brand - Set a note to remind yourself that first impressions are being made, relationships and networking need to be positively maintained. If you remind yourself to be considerate of others, your punctuality will be seen as a necessity. 
5. Prior preparations - If you are attending a meeting, get your wardrobe out and ready the night prior. Prepack lunches and snacks, and have any written materials or electronics packed and near the door. If you have everything ready prior to any meeting or gathering you will avoid any last minute scattering around. 

Remember being early is being on time! 

Here is a great read from Forbes on an outsiders perspective on a tardy person - http://onforb.es/1hlzDBD

4 Surefire Ways to Grow Your Circle of Influence

The ability to influence others through words or behavior is an incredibly valuable tool in your relationship toolbox. After all, building a business is more than creating a new product -- it’s about building relationships.

“Opportunities are tied to people and people like to work with others that share common interests that they can trust," says Olivia Gamber, a talent manager and founder of OccupationalOlivia, a website that explores innovative ways to build career success. "Being good at your job isn’t enough in today’s highly competitive environment. You also have to build relationships [and] be able to navigate complex corporate matrices.”

If you don’t think relationships or influencing power are important, ask yourself when was the last time that a salesperson forced you to buy something you didn’t intent to buy, or the last time your friends or parents coerced you into choosing X when you really wanted Y.

The answer is never. Nobody forces you to do anything. Even in the military, there are ranks and orders but, again, there is also choice. Of course, along with choice comes consequence, so if you prefer not to be incarcerated for insubordination then making the “right” choice is definitely preferable.

Think of your circle of influence as the range in which opportunity lies. You can locate the opportunity, build upon it and make connections between different ones the larger your circle expands. If you want to expand your circle of entrepreneurial influence (or any influence, for that matter), try these four strategies:

1. Do what you say.

Nothing erodes personal credibility faster than a lack of trust. Building trust is fundamental to increasing your circle of influence. If you possess the skill to execute project A and the will to do so ethically, then others' trust in you will increase. Just be consistent because once you break that trust it’s like taking a piece of paper, wrinkling it up and then trying to flatten it out again -- it never actually returns to its original state.

2. Choose your battles.

Some fights are worth fighting. Others aren’t. Choosing the ones that serve a purpose higher than yourself builds your influencing power in two ways. First, nobody likes hearing the same voice complain over and over again. Second, if you fight only when it’s your self-interest at stake, then the message people really hear is that you only care about one thing (hint: not them). So the question then becomes, why should they listen to you?

3. Be present.

There’s nothing worse than being in a conversation with somebody who is checking his or her watch or email. When you’re engaged in conversation, put away the laptop and turn off the TV. If you have an appointment and are worried about missing it, set an alarm on your phone or ask to schedule another time to talk. The takeaway is when you make time for people, they’ll make time for you. When people make time for you, it means they’re listening -- and you’re influencing.

4. Grow yourself.

Personal development is a building block for extending your influential reach. After all, you can only lead or influence others to the extent you can lead yourself.

The credibility that accompanies positive intent and demonstrable behavior is irrefutable. If you want to extend your circle of influence and get the best out of people, start by getting the best out of yourself. People follow others whom they trust, like and respect, so to the extent to which you align your intentions with communication and behavior, the more your circle will grow.

Jeff Boss

14 Literary Classics You Didn't Know Could Help You Become a Better Entrepreneur

The right reading can inspire and educate you, keep you up to date on your field and help you adapt to the inevitable changes of the business world.

Sometimes, though, you need inspiration from a different type of book. In fact, the lessons you need most to help grow your business could come from an unexpected source -- including the following 14 classic works of fiction:  

1. Of Mice and Men

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The themes of lost dreams and sadness make this an unusual choice, but John Steinbeck’s novella holds important lessons about loyalty and the protection of the weak. When you realize the importance of respecting everyone, regardless of their station or job, you’ll become leaps and bounds more successful as an entrepreneur.

2. To Kill a Mockingbird

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There’s a lot to learn from Harper Lee’s classic, in particular, the ability to see things from others’ points of view and to find resilience in the face of bad breaks. These two skills alone will make you a more successful entrepreneur.

3. The Picture of Dorian Grey

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This cautionary tale has a lot to say about what can happen when desires are allowed to run unimpeded. As a businessperson with (potentially) access to millions of dollars in funding, it’s important to understand the lessons of restraint that can be found in Oscar Wilde’s novel. Shielding yourself from business-hedonism is just as important as protecting your personal integrity.

4. The Adventures of Huckleberry Finn

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This classic Mark Twain novel shares the story of a boy growing up and learning to trust his own instincts of right and wrong over what society tells him. As an entrepreneur, this lesson of trusting your gut and not other people’s opinions is an important one.

5. Emma

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We’d all love to see ourselves as “handsome, clever and rich,” especially if we own businesses. However, this novel by Jane Austen is a cautionary one, as Emma is often led astray by the conviction that she’s always right (and gets into some serious trouble as a result). This caution is important for would-be entrepreneurs as well -- don’t be so blinded by your own ideas that you miss the right way to go.

6. Great Expectations

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This classic novel teaches great lessons about the role of wealth in happiness. As Pip moves through life, gaining wealth and prestige, he finds that it doesn’t automatically bring the happiness he expected. Pip’s moral development is a major theme of the book, and an important thread for you as an entrepreneur. Use this book to learn that wealth and prestige won’t make your life great. A great life makes wealth and prestige a blessing.

7. The Three Musketeers

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The Three Musketeers is a book about adventure, courage, friendship and generosity. A highly entertaining story, it’s also a great one to read as an entrepreneur. Seeing how the musketeers work together through their adventures is a great way to learn about the importance of teamwork and watching out for those who work with you. In this time of remote connections, the timeless message of friendship really resonates.

8. The Hobbit

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This book has three themes that are important for entrepreneurs. The first is the sense of being called out on a journey you aren’t entirely sure you’re ready for. Anyone starting a business knows the feeling.

The second is the theme of protecting your team and watching out for each other, which goes hand in hand with the idea that, sometimes, the thing you think you want most ends up controlling you. As a successful entrepreneur, you can never let yourself get too carried away by “your precious.”

9. Little Women

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Little Women is a perennial favorite read, especially for young girls. This idealized view of family life stands in contrast to our current culture of sarcasm and cynicism. This alone can help you be more successful as an entrepreneur -- optimism is an important trait. The book’s enduring themes of family, forgiveness and giving also encourage all of us to be our best.

10. The Little Prince

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This classic reminds all of us to never lose our childish wonder with the world. Never get so boring that you see a hat when you’re really looking at a snake eating an elephant. Follow your instincts, explore and discover what’s around you.

11. The Lion, the Witch, and the Wardrobe

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C.S. Lewis’ classic is a great adventure story that will not only remind you that the impossible can be possible, but will teach you important lessons about forgiveness, sacrifice and faith.

12. Peter Pan

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Like the title character, I think all adults face days when they wish they had never grown up. We don’t like the responsibilities and trials. But this story goes deeper than that. When you read it, you learn about chasing dreams, overcoming doubt and pursuing adventure -- all of which helps you become a more successful entrepreneur.

13. Robinson Crusoe

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Daniel Defoe’s classic adventure tale encourages all of us to be grateful for the things we already have. We face trials, but at least we aren’t shipwrecked or fish food. In addition, Crusoe’s persistence as he created his clay pot is a powerful lesson to all entrepreneurs about the value of never giving up.

14. Don Quixote

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What can tilting and windmills teach you about leadership? Quite a lot. Despite failure after failure, Quixote persisted in his commitment to his vision. To be a successful entrepreneur, you need this kind of commitment to live your life with passion and discipline.

Have another book you’d like to add to this list? Share your recommendations in the comments section below!

Sujan Patel