The golden year is also known as the bonus years and these are that comes after your retirement. As soon as people reach the age of 65, some may become confused as to whether to start a business or just rest forever. Well, maybe it is called the golden year for a reason. It could be a golden opportunity for you to start a business.
Considering that your golden years are here, you now need to seize the opportunity and start your own business. You might think that you are too old for it since you are already retiring from your regular job but that is the perfect timing to start another life. Especially if you did not have had an opportunity to do things that you love during your sunshine years. Here are a few reasons why: Life span is longer than ever The retirement age of 65 is not an accurate age to retire as the human life span is now longer than ever. Some people might not die until 100. What are you going to do for the rest of the free time if you don't start a passion project? Starting a business is a source of satisfaction Starting a business of your own during your golden years and especially after your retirement is very crucial as it is the basis in which you can accrue a certain level of satisfaction. It is very crucial therefore to start a business to get satisfied. It is a source of implementing your hobbies and earning from it Did you know that you can convert your hobbies into a business? Yes, that is very possible. For example, you might have been a huge fan of soccer and other games and as soon as you retire and enter your golden years, that will give you an opportunity where you can create things related to your hobby. Business during the golden years is a source of extra income Pensions are now a thing of the past. What is going to happen to your bank account when you retire? You might need to spend those golden years running a business that you started with the aim of earning something extra. Life is expensive during golden years and this calls for the need to have a business that will be a source of income crucial for supplementing your retirement funds. Starting a business is not only limited to young people. No matter what age you are, you could always start a business. What are you starting in your golden year?
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As the market has been hot for 10 years straight now, people imagine a startup to be a glamorized life in Silicon Valley. Even the guys in the TV show Silicon Valley had moved on from scrappy startup from their house to a fancier set for the later seasons. However, there are still scrappy startups. The founders of scrappy startups are the most resourceful and creative people we've met in Treehouse Society. Here are five lessons after chatting with our scrappy startup members.
Be efficient with your time There is a sense of urgency in a startup as seed fundings can run dry quickly and burn rate could get high in a startup. Always be efficient with your time as time is the biggest asset in your business and life. Don't be ashamed of outsourcing There is a sense of pride in building and making your product. However, there are times when you need to outsource to get work done, and there is nothing wrong with that. You should use comparative advantage to your advantage here. Don't focus on your competitors Any scrappy startup should not dwell on dealing with competitions or struggling to do what the competitors are doing. Instead, it is very crucial to focus on what you are offering, where you want to be both in the short run and where you want to be in the long run. In that case, competitors should not be something that will give you a headache but as a source of inspiration and a source of ideas. Always, never leave a problem unsolved The basis of success in a new scrappy startup is to solve problems that may be encountered along the way. It is through solving these problems that you will be in a position to head in the right direction. When problems are left unsolved, they will pile on. The problems that are encountered today should be solved today and problems faced tomorrow must be solved tomorrow. Get the Biggest Bang out of Your Buck One must be lean in a scrappy startup. Live and work within your means so you don't end up burning money and resources on unnecessary items. This is why most startups choose to work in a coworking space to be within their means. Treehouse Society is a place where scrappy startups could get a space with the biggest bang out of their buck. This is why so many scrappy startups choose to be based out of here. Take a tour today to find your nook here! Cybersecurity is the protection of electronic data and the setting up of firewall for a network and computer system. This is to provide a secured space for confidential data. The real goal of cybersecurity is to protect business sabotage from cyberattacks.
Due to the high cyberattacks that are occurring, it has become very important to keep data safe and secured. Interestingly, there is a shortage of skilled people who are capable of carrying out this job description. There is a predicted high number of over 3 million jobs opening in cybersecurity by 2021. Your Transition To Cybersecurity Usually, most people do not start their careers in cybersecurity. The majority of people that end up having a career in cybersecurity came into it having been on different career paths. There is a different level of knowledge required to be able to do cybersecurity properly. It does not matter if you have a degree in computer science or otherwise. Most times, it requires a blend of law, psychology, technology, sociology and sciences for an organization. Cybersecurity provides a large pool of opportunities for both technical and non-technical people. How To Get Started In Cybersecurity You must carry out extensive research about cybersecurity before proceeding to pursue a career in it. Listed below are some of the important questions you need to answer first
I will try to answer some of the highlighted questions above as concerning starting a career in cybersecurity.
Furthermore, successful cybersecurity professionals can think like a cybercriminal. This is to understand the vulnerability of systems and provide preventive measures.
In Conclusion Being specific at what you want to achieve being a cybersecurity operator can help you be successful in your career in cybersecurity. Always remember that the possibility of some cyberattacks happening is always high. Also, it is important to gain a broad scale knowledge of everything you can while starting and advancing in your career in cybersecurity. References https://expel.io/blog/a-beginners-guide-to-getting-started-in-cybersecurity/ https://learntocodewith.me/posts/cybersecurity/#how-to-get-started-in-cybersecurity Creativity can bring our business or career to the next level. Creativity is responsible for the latest technologies, innovativeness, and uniqueness.
Creativity sets us apart and makes us stand out in this monotone world, so why is it that on hearing this word –creativity, we start having anxiety? We glorify the idea of being creative in every chore of our lives yet deep down it makes us squirm. We believe, or most of us do at least, that creativity is a talent that has been gifted only to a few, and that is the biggest myth of all time. Creativity is deep-rooted among every one of us, however, it requires an open mind to extract it and explore it. The following are the top five myths about creative people. CREATIVITY IS INNATE People believe creativity is innate and it cannot be developed with time. It is believed that creativity is only gifted to the selected few. It is a myth that creativity cannot be developed. The truth is that every human being has been blessed with this characteristic, some use it and others believe in this myth and restrain it. This can be understood better with an example, if you want to become a fitness trainer, you go to the gym, you do high-intensity workouts, similarly, if you want to become a dancer you take classes. Creativity is just like that. A skill that needs polishing. TIME PRESSURE IS THE KEY FOR BOOSTING CREATIVITY Masses believe that when a person is presented with a strict time limit and has a lot of pressure on the head, he or she eventually comes up with creative ideas. However, studies and research disagree. It has been studied that people presented with tight time limits perform work less creatively. To boost creativity, one needs to be relaxed, calm and believe that he or she has got it all. “I WILL BE CREATIVE WHEN I AM ASKED TO BE” This is one of the major myths. People believe that only top levels of organizations have to be creative because it is in their job description. However, this is completely false. One has to be creative in all areas of life, no matter which position of the hierarchy he or she is on. THE ORIGINALITY MYTH It is believed that creativity is strictly original. However, it is wrong. Creativity can take place even after referring to older ideas, the whole point is to make something better and unique out of something that already exists. Studies have shown that all these new ideas that take place are better and improvised versions of the older ones. CREATIVITY IS AN INSIGHT There is a myth that creativity is an idea that comes suddenly at a moment. An insight. However, this is not the case. Creativity takes place after loads of hard work and research. It is not just an idea that pops up suddenly but thorough research and lots of failed experiments make an idea creative. These are 5 myths about creative people. Of course, one can always improve on creativity. Focus on that calm mind, meditate, read more, and explore more. Exposure to different things in life can boost creativity in a person. REFERENCES AND CITATIONS https://www.forbes.com/sites/joshlinkner/2015/10/19/the-5-myths-of-creativity/#15ce5b9711d9 https://www.edutopia.org/article/4-myths-about-creativity https://www.entrepreneur.com/article/229600 https://davidburkus.com/books/the-myths-of-creativity/ If you have ever shopped for a coworking space, you would notice that it is not a perfect competition type of market, and not all coworking spaces are made equal. In San Francisco alone, there is a wide range of what coworking spaces offer. The environment, vibe, and price are all very different. The owners of a coworking space could range from just a yogi to a small business owner to a corporation.
Coworking Spaces vs Large Corporate Spaces Coworking originated in San Francisco by Brad Neuberg with the idea of combining the freelancing with a structure of a community of office space for freelancers to feel as if they belong somewhere. A coworking space is an environment that allows a different set of people to work on their desired project at an independent level. Since then coworking spaces have sprouted everywhere, not only in the Bay Area but also internationally. Smaller and independent business owners were first onto the idea of gathering other freelancers. And if you think about it, freelancers have a lot in common with small business owners. First of all, they all work independently and they don't belong to a large company who gives them directions on their work. Once this movement gained tractions, larger corporations joined in. Corporate coworking spaces started sprouting everywhere. Large corporate spaces are normally larger and specially designed to accommodate larger companies. In truth, a large corporate space is the enterprise version of the smaller coworking space environment. They both usually offer private offices for companies and the main area for independent workers. Which Choice Is Best For You? There are numerous points essential for consideration when picking out your preferred coworking space. But you should pick one that fits your vibe, energy, and budget. As relative as choices can be, here are some of the important points to consider while choosing between coworking spaces.
Picking a smaller coworking space could provide an environment with fewer people and less noise.
If you are in any type of environment that requires you to put in the work, you might need to consider going for the smaller coworking space for this advantage.
In a smaller space, it is easier to manage this with the fewer set of people in the same coworking space. People who opt to use smaller coworking spaces are also normally a set of more down to earth people. Conclusion It is very important to pick the coworking space that will facilitate your productivity and provide you with a comfortable environment to work in. If budget isn't a constraint, of course, you should sign an office lease to work in your workspace. However, you could always do cooler things with your money than renting an office space. Come check out why Treehouse Society could be a great choice for your team's productivity, budget, and space needs. References https://en.m.wikipedia.org/wiki/Coworking https://www.coworkingresources.org/blog/difference-between-coworking-spaces-and-executive-offices Introduction:
The ideal dream team is the one that works together and promotes positivity to create a learning and growing environment that can help in flourishing the company and its profitability. While the research always for such employees who can work in a team and lead it to prosperity however sometimes you might even encounter a toxic employee who basically drains the employee happiness and productivity and hinders the profitability of the company as well. No HR manager ever wants to hire a toxic employee as it is said: “One bad berry can spoil the whole basket.” Effects Of Toxic Employees On The Organization: A toxic employee can damage the company daily as well as in the long term. The research has shown that 56% of employees tend to leave a job because of a toxic co-worker. The toxic employee can blame the other workers for the failures of his own, bullies other workers around, or creates drama where other teammates feel annoyed and humiliated. These things make the working conditions hard for the other employees and they tend to leave the job to find a much peaceful one. Identifying Toxic Employees: So now, the question arises: How can one identify a toxic employee? Mostly in organizations, the toxic employees are pretty much visible if there is any. However, some of them are too clever and know how to keep themselves low key or their manipulative nature leads people to believe that it was others' fault. The basic traits of toxic employees are that they are defensive and aggressive with other workers, they do not take responsibility for their faults, and they tend to resist growth or change. You can even find them bullying and gossiping about others. No matter what they do in the organization, the result is that they damage the efficiency and morale of others on the team as well. Dealing With Toxic People: It is easier said than done that toxic employees should be weeded out during the hiring process especially when the core team is being built. However, some toxic people make the hire because of their resumes. They sell themselves well on a piece of paper and they are even better during the interview process as sometimes the toxic people are charismatic. However, their toxic personality often shows up after they are given responsibilities, left with coworkers or given challenges. Although, still the best way to counter such toxic employees during the hiring process so it needs to be aligned accordingly. The interviewers should be sharp enough to ask questions which can show how civil the candidate is and what can be achieved by asking them how they will resolve conflict instead of asking them how they will handle the difference in opinion with other teammates. Make sure that during the interview you have investigated the candidate about their previous experiences at other companies and how they handled different conditions and personalities there. It doesn't matter what kind of organization you are running, from nonprofit to startups. It is quite important for you to not allow toxic teammates to enter from the start as it can create a blockage in your growth and productivity. The best way to tackle it is during the hiring process to prevent negativity. If it still surfaces, then take action upon it as soon as you get to know. Once the employee is in your organization, you need to provide honest feedback. Maybe the toxic employee doesn't even know that he is being toxic. However, if the behavior continues, you should figure out a strategy to rid him/her ASAP. References and Citations https://hbr.org/2016/10/how-to-manage-a-toxic-employee https://resources.workable.com/tutorial/toxic-employees https://www.tlnt.com/a-data-driven-guide-to-dealing-with-toxic-employees/ https://www.entrepreneur.com/article/251614 https://www.thebalancecareers.com/how-to-handle-the-brilliant-but-toxic-employee-3575677 https://hrdailyadvisor.blr.com/2019/04/29/how-smart-managers-deal-with-toxic-employees/ Different types of unique relationships exist between people, family, romantic, business, etc. Some people might not realize, but relationships take a lot of active work, especially the relationship of cofounders. It is a lot more than even a significant other, as cofounders not only need to share the same idea and dream but also need to manage finance and build a team together.
Smart cofounders are sensible enough to give their best and look great when the occasion arises. It is very unwise to reveal the cracks that may exist in their relationship during a pitch. Cofounders make point of fixing their strain to get the best productivity out of themselves. Numerous reasons could cause sour development in the relationships that exist between cofounders. This could be one of the determining factors that determine if they are staying together or going their separate ways. Below are some of the ways cofounders' relationships go sour and how to fix these issues:
Here, there has to be some level of compensation and a genuine understanding of your partner’s perspective. It could be the energy level or other commitment issues. It could be health issues or another side project. These differences have to be worked on to continue that positive desired relationship.
However, if you are already into the project for a long time and there still exist some level of differences, you should consider redefining and communicating your mind. Having a detailed cofounder agreement is also useful to help keep everyone in line. The honesty and openness that exists between cofounders help in bringing out the best versions.
Interestingly, it is not always hinged on history. It depends on how well you think you know your cofounder and your dynamic as well. Irrespective of the time spent previously, there seems to be a correlation between a deeper friendship with your cofounder and the longevity of the relationship. Earmark out time to further bond with your cofounder to develop a deeper bond.
Interestingly, your business going well and the positive profit being made does not necessarily reflect that your relationship is working. Investors always have an eye in spotting any form of strain that might exist between cofounders. This may affect the business in the long run. Wrapping It Up Understanding your cofounder’s perspective and effective communication is very vital in preserving cofounder’s relationship. For a longer and more productive business, cofounders have to make it work through various practices in their cofounder relationship. References https://medium.com/lessons-from-startup-ceos/https-medium-com-timjax-co-founder-relationships-what-makes-them-last-longer-and-how-to-fix-them-b9186f61c775 https://www.forbes.com/sites/theyec/2014/05/07/10-tips-for-healthy-co-founder-relationships/#27775c92d357 Mental health is such a taboo topic, especially in the startup world. However, it is one of the most important factors to consider in everything from personal life to business. Due to the immense pressure to reach a goal, most employees of a startup develop mental health issues, especially the founders. The level of stress from the fast-moving pace can affect their mental health.
What Is Mental Health? The mental health of an individual is the psychological and mental well-being of the concerned individual. It can also be used to categorize the collective condition regarding the psychological and emotional well-being of an organization. Having a positive mental health condition in and around a startup is one of the best things you can hope for as better mental health can lead to better products and better work. Taking care of mental health should be an active investment as poor mental health has its consequences. Poor mental health conditions often lead to a drop in the creativity and productivity of employees and the startup itself. Symptoms Of Negative Mental Health In A Startup Various symptoms manifest in the employees of a startup that must be monitored. Due to the high pressure, mental health can deteriorate quickly. Often time, these people suffer from some of the highlighted symptoms below
Effect Of Negative Mental Health In A Startup Venture capitalists who invest in startups are most times just interested in the returns of their investment. They are not interested in the sweat and turmoil went through by the founders and the team in getting the agreed results. Hence, there is immense pressure on the startup team to get the result or face the consequences. But startups are run by humans, not robots, and humans have emotions. It is ok to experience emotions. Some mental health issues have been linked to the pressure developed through the tough conditions found in startups to reach set targets. Some of the known effects of these negative mental health condition in startups include
Starting up a business can be hard but it is important to pay careful attention to the mental health condition of its employees. A healthy working environment and a wellness program should be in place for companies for productivity. To Wrap It Up It is important to monitor the mental health of a startup and its employees. This can be monitored by taking note of symptoms that could be manifesting in its employees. Startups need to keep the mental health condition positive for a more productive environment. References https://techcrunch.com/2018/12/30/investors-and-entrepreneurs-need-to-address-the-mental-health-crisis-in-startup-culture/ https://www.entrepreneur.com/article/327795 The companies that come to mind when discussing artificial intelligence are Apple, VMWare, Amazon, Google, Facebook, and other big corporations. This is so since most of the artificial intelligence tools or technologies are used by the companies. The artificial intelligence trends of 2019 can be understood by first looking at the past. The 2018 artificial intelligence trends are the basis of accruing artificial intelligence trends of 2019. There are many other trends worth discussing in this blog post.
Enhanced Artificial Intelligence and machine learning through Enabled Chips The years 2019 has been characterized by the need for top-notch model chips that could be used in boosting artificial intelligence to the next level. In 2019, some of the popular companies which have taken the challenge of designing and manufacturing AI chips for artificial intelligence include Intel, Qualcomm, AMD, and NVIDIA among many others. It is through the efforts of these companies with the ability to make an execution related to AI possible. With the availability of these particular chips, the application of AI application has been hastened by a great deal and this has changed the way AI operates. Extensive cloud technology use In 2019, the AI has become one of the issues and this has further promoted the demand for cloud providers to deliver artificial intelligence through cloud technology. With this trend, the cloud developing companies have grown by a great margin. It is very crucial, therefore, to be aware of the fact that cloud platforms have expanded as a result of the introduction and growth of AI technologies. Extensive use of Privacy and Policy Terms With the rising AI apps, most companies have expanded their privacy and policy elements just to make sure that they cater to laws governing the introduction and use of AI. In that case, with the extensiveness associated with AI, we have seen the rise in which privacy and policy terms are being structured. The adoption of facial recognition applications The improvement and restructuring of AI have led to the promotion of facial recognition technologies. Such technology has taken a center stage in ensuring that users can be identified using their faces. With this particular trend, more and more companies are rapidly changing their security check by introducing facial recognition which is governed by the presence of AI technologies. With the development of technology, artificial intelligence is getting more relevant than ever. The majority of the startups we are aware of today are trying the best to have an idea on the amount of time they can keep the lights on before their businesses finally run out of cash.
The thing is, either a startup runs directly into a cash crunch at a point in time, or they are interested in accelerating their growth. However, there are times whereby startup founders may want to make use of their personal finance to keep the business floating. Funding With Your Personal Finance There are lots of entrepreneurs and even small business owners that have embarked in self-funding their startup with their personal finances for a significant time frame. Sometimes, they do this until their funding opportunities that are outside become much more realistic. Nonetheless, if you do believe in the vision you have and you have refused to take failure as an alternative, you should surely feel very comfortable investing your personal finances in your own business. When making use of your personal finance, you will have to be very smart in this game and highly frugal. Also, making use of your personal finance can work in your favor sometime later. This can work in your favor as your story can be strengthened when the time comes to seek extra funding for your business from investors that are outside. Like we mentioned earlier, no one believes in your business as much as you do and if you are skeptical about using your personal finance on it, then that is a red flag. Well, unless you have other quick access to funding the business with a cheap capital cost. Other Strategies For Funding Your Business Some of the startups we can find today pieced together their funding from diverse sources. While no single source is better than the other, everything relies on your runway, access to resources, living expense, and even capital cost. It does not matter if you are a startup that is searching for initial seed capital or you are already operating a small business and need money to grow, you have to be flexible and keep accurate financial numbers. Some of the ways to fund your business without the use of your personal finance include:
Although there are risks linked with funding your startup with business cards, you can always explore it depending on the amount of money you need, how quickly it is needed, and your credit score. However, before you do that, you need to be sure that your startup will be profitable so you wouldn't be losing out on 15-25% APR of a credit card.
Crowdfunding will enable you to promote the vision you have for your startup products and even take orders plus pre-sale inventory before you begin manufacturing it. With marketing and planning, crowdfunding may likely take months to raise the money you need successfully. To Wrap It Up From friends and family to crowdfunding down to angel investors, there are lots of ways to raise money for your startup. However, if you want to go through the route of personal finance to keep 100% of your company, it is not so bad either. Try coworking today to save money so more of it can go to your startup. |
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