Vik Dulat: Thinking differently
Hard work equals Success

You can be the smartest person in the world and be “the one” but if you do not have work ethic, you are not getting anywhere.

What is work ethic?

According to Wikipedia, “Work ethic is a set of values based on hard work and diligence. It is also a belief in the moral benefit of work and its ability to enhance character.”

When a company is looking to hire someone, work ethic is the main thing they need to focus on.  Any person can have the right tools for the job.  They may even how to do everything but without work ethic, they are going to be a liability rather than an asset.

On a final note, a company can teach how something works or train someone but work ethic is something that comes from within.  Another thing to take into consideration is the type of job someone has.  If they truly enjoy their job, their work ethic will tend to be better than someone who despises their job.

How important do you think work ethic is for a company?

I always hear comments such as, “Wow, that person is rich because he/she makes $300,000/year.”  Just because someone makes that amount of money, doesn’t make them rich.  A person can be making $300,000/year but if they spending more than they earning, they are in fact in debt.

They might be able to have a buy more toys or better clothes than someone who is making $25,000/year.  Having said that, this does not mean they are richer than someone making $25,000/year.   So next time, you hear someone say that guy is rich, make sure to point out that it’s how you much save, not how much you make.

The message I am trying to portray here is spend less than you learn.  Especially with the current economic conditions, it is beneficial to save as much money as you can.

What are your thoughts? I would love to hear them.

It is that time of the year when final exams are upon us. There are many different types of strategies used to study. Some of these include all nighters, chapter by chapter or keeping up with the studying during the semester or year.

All nighters

This is by far the most commonly used study method in college. I have guilty of using this as well. Procrastination has a big thing to do with this method. I personally believe this type of method can work for certain classes but overall, you are prone to failure. If all possible, you should stay away from this method.

Chapter by Chapter

In this strategy, you read a chapter and revise it until you are comfortable with the material. After you are done with one chapter, you go to the next chapter. This is a great method to use but if course whether you have to build upon your previous course material, this method can be costly. Most students will read the chapter and go on to the next chapter. What they fail to do is to connect the readings from the previous chapter. This is the key element. You have to build on your previous readings and examples.

Keeping up during the semester

This is the best method to study for any exam. During the semester, you keep up with the necessary reading and do examples and practice problems as you go. When it is time for the final exam, all you need to do is to review the material and you are set.

What’s the method of your choice? Do you choose one of the 3 listed above or another strategy?

It is Sunday and here is another round of link love Sunday.  Hope you enjoy the following articles:

Shoemoney - How to build(and Monetize) Twitter Content Channels

On Simplicity - Six Conversational Habits to Ditch Today

Dosh Dosh - Most Powerful way to Presell

Neil Patel - The Andrew Warner: How a 21 year old created a $38.5 million business by returning this J. Crew Clothes

The Toilet Paper Entrepreneur - 115 Marketing Strategies for Small Business

Enjoy

If you work hard, you will be successful in life.  This is true but what if you worked smarter but accomplished the same things.

You do have to be the smartest person in the world to be able to work smarter.   I think the best way to explain this is with examples:

Example 1

Working harder: You get all work done but you are doing your projects in no particular order or with no plan.

Working smarter: You get all your work done but you have broken down how you are going accomplish this and you have matched similar projects with each other.

Example 2

Working harder: It takes you almost an hour to find something for your boss because you did not organize your work space.

Working smarter: You have an bin for incoming papers and you have hanging file folders labeled A to Z.  This way if your boss needs something from a particular company (e.g.  Home town products), you know exactly where it is (folder H).

Example 3

Working harder: You do not eat a proper breakfast and you feel the results in the afternoon.  You feel tired and cannot focus.  You expend more energy and make your body work harder.

Working smarter: You eat breakfast every morning and drink fluids throughout the day.  When the late afternoon comes, you are still on top of your game.

I can go on and on.  However, now it is your turn.  How do you work smarter?

Another great week.  Here are some of my favorite articles from the past week.

Passive Family Income has a great article on 8 benefits of eating at home.

Small Business Trends talks about selling more by seeing your store through the customers’ eyes.

The change blog breaks down how to stop procrastinating and write that book inside you.

My super charged life has my favorite article of the week .  The article talks about five family values to teach our kids.

BONUS: One of my favorite articles from this blog: 11 keys to waking up early

Have a great weekend!

It is safe to say that a child is molded by the way he/she was brought up.  I am fortunate to have great parents.  Below are 10 things they taught me about money:

1. It is a lot easier to spend the money than to earn it.
2. Keep track where your money goes – Most people do not track their spending and therefore do not know where their hard earned is going.
3. No amount is too small – You might think a dollar here and there does not mean anything but when you add that up and it can turn into thousands of dollars.
4. Only spend money on things you need, not want.
5. Save 80% of your money and enjoy the rest of the 20%
6. It is not about the amount but rather the spending patterns. Once you slip into a bad habit, you can blow a lot of money and if you use your credit card, you can go into credit card debt.
7. Money isn’t everything. It is important to have in life but enjoy your life. Do not just work all day. Enjoy your time on this planet. You never know how long you have.
8. Hard work = Success . Hard work never goes to waste. If you put 100% into anything, you will be rewarded. Most of the time, it is related to a better job or a promotion at work.
9. Never compare yourself to others. If you do, this can result in wanting to buy the latest gadget or clothing, resulting in wasting money
10. Always ask for others’ opinions when buying a big purchase item. e.g. car, house, etc. You do not have to use their opinion but getting a different perspective can be extremely helpful.

BONUS: Picking the right life partner can determine how you are going to live when you retire.

What’s the most important thing your parents taught you?

I am sure you have all heard of myspace and facebook but have you heard of Twitter? Twitter is the next big thing on the internet. There are millions of users on twitter.

How Twitter works

You have 140 characters to tell the world what is new in your world. When you post a message, it is called a tweet. You can follow people and people can follow you back. If you have a large enough list, you can leverage twitter in making money on the internet

John Chow had an interesting post on twitter marketing vs blog marketing vs email marketing. He made close to $300 through affiliate sales with one tweet. Note: John Chow has close to 15,000 followers. Now just imagine if you had 50,000 followers.

What to take away

The reason for this blog post is for you to start thinking outside the book. Sure there is the good old 9 to 5 job but there are various forms of passive income and these passive incomes can eventually turn into full time income. What could be better than being your own boss?

Don’t forget to follow me on twitter.

You are defined by your character.  Below are 12 powerful words I think everyone should live by:

Attitude - Every day shines when we let our positive attitude show through.

Determination - A soaring performance starts with a determined effort.

Potential - Looking beyond boundaries opens up limitless possibilities.

Integrity - The path of truth always takes us in the right direction.

Creativity - Fresh approaches keep new ideas flowing.

Teamwork - Individually we are special: together we are spectacular

Strength - Confidence lets us stand and face every challenge.

Satisfaction - Reflecting on each day’s rewards prepares us for a brighter tomorrow.

Excellence - Excellence is doing ordinary things in a n extraordinary way.

Change - Making the most of change sets the stage for progress.

Caring - No act of kindness, no matter how small, is ever wasted.

Perseverance - The seeds of success spring from an everlasting commitment.

Which ones out of these do you think are most critical?