<ul><li>Get owner’s compensation right and stop playing games with distributions.</li><li>Breakeven is 10% pretax profits.</li><li>Labour efficiency is the key to profitability. Manage your salary cap and build a team culture around labor productivity.</li><li>Forecasting is better than budgeting. Spend 75% of your time looking ahead at what you plan to make happen and 25% of your time reviewing actual performance.</li><li>Understand the economic value of your business so you have a baseline for equity decisions.</li></ul>

Key Takeaways

<ul><li>Don’t confuse business profits with owner's salary.</li><li>You get paid a salary for what you do, and you get a return on what you own.</li><li>Until you pay yourself a market-based wage and plug that number into your financials, your financial data is worthless.</li><li>If you got run over by a bus today and your heirs decided they would keep the business going in your absence, what would they have to pay someone to do your job? Answering this question determines your market based-wage.</li></ul>

Owner's Salary: Why Your Salary and Distributions are Fogging Your View of Net Income

<ul><li>If you’re not able to pay yourself a market-based wage, then you’re operating at a loss.</li><li>Until you pay yourself a market-based wage—and make a profit on top of that you have a sick cow on your hands.</li><li>Your goal should be to create a business that generates income for you every day (cash cow).</li></ul>

Create A Cash Cow

<ul><li>Use sweat equity to compensate yourself when you can’t afford a market-based wage.</li><li>Sweat equity is the value you have created for your business through your unpaid work.</li><li>This concept helps you calculate your lost opportunity to earn market-based wages had you chosen to work elsewhere.</li><li>If you have outside investors, it gives you a way to balance the worth of your effort with the money they invested.</li></ul>

Calculate Your Sweat Equity

<ul><li>A high employee turnover rate is very expensive.</li><li>Fair does not mean equal. Two people are rarely worth the same amount of money.</li><li>Management by committee is an absolute failure as a business model. There has to be a clear leader even if the stock ownership is equal.</li></ul>

Market-Based Wages For All

Pretax Profit = Total Sales – (COGS + Operating Expense + Interest Expense)<ul><li>Pretax profit is the profit you make after you take all your sales minus all your costs, before you pay taxes.</li><li>Focus on your pretax profit. Interest, depreciation, and amortization are real numbers that you need to consider in the profit calculation.</li><li>If you can’t pay yourself a market-based wage, the first thing to focus on is getting your business profitable.</li></ul>

Profit: The Importance of Pretax Profit

Gross Profit = Revenue – COGSDo NOT include direct labor costs in cost of goods sold.Cost of goods sold typically includes pass-through costs like finished goods, materials, and subcontractors.By focusing on gross profit instead of revenue, most businesses from any industry can be compared side to side.Contribution Margin = Gross Profit – Direct Labor

Gross Proft And Contribution Margin

<ul><li>The target for pretax profit is 10%.</li><li>By the time you’re at the breakeven point, your business is already dead.</li><li>The best businesses operate between 10 percent and 15 percent.</li></ul>

Breaking Even Isn’t Good Enough

The “black hole” exists between the $1 million and $5 million in revenue.This is a time in your business growth when you’re forced to add staffing and infrastructure before you can really afford to.One of the keys to success is continually upgrading your staff.The need to add management infrastructure seems to naturally occur when you have about twenty employees typically, when you’re between $2 million and $3.5 million in revenue.

The Black Hole

<ul><li>Hire slowly, fire quickly.</li><li>Use the topgrading concept of hiring when it comes to interviewing and selecting candidates.</li><li>Use personality profiles as part of the screening process.</li><li>Beware of hiring the “been there, done that” credential. Ask yourself why that person is available.</li><li>Hire young. These young people are like sponges, and they want to absorb knowledge and information.</li><li>Don’t take a trail-and-error approach to hiring. Follow a process and make an informed decision.</li></ul>

Hiring 101

<ul><li>Your “capital safety net” is calculated by figuring how much cash you need to hire the people you need, then estimating how long it will be before your business can pay the new hires and still remain profitable.</li><li>Prepare a cash flow forecast by month for the time period of the expansion to determine your capital needs.</li><li>If you don’t have the capital, but still want to go on a journey through the “black hole” then you’ll need to raise capital.</li></ul>

Your Capital Safety Net

<ul><li>Focus on your gross profit per labor dollar as your key indicator for labor productivity.</li><li>Stay at the 10% pretax profit mark every step of the way by adding labour only at the last possible moment.</li><li>You can’t increase pretax profit by revenue growth alone. You improve your profitability by getting more productivity out of your labor.</li><li>The profit curve should ideally mirror the revenue curve. As revenue increases, you should maintain 10% profitability.</li><li>Beware of labor creep as you grow. This is when you start hiring more people than you need to take care of the annoying tasks in your business. </li></ul>

 Labour Productivity: Your Key to Surviving the Black Hole

<ul><li>Determining your salary cap is the best way to achieve your required labour productivity.</li><li>Nonsalary costs include all fixed and variable costs, including COGS, that are not paid labour.</li><li>In the example below, your salary cap for the year is $500,000. This is how much you can spend in total on wages, including all salaried and hourly employees.</li></ul>

Determining Your Salary Cap

<ul><li>Managing the salary cap is the key to improving profits.</li><li>If you are exceeding your salary cap, decide what to do about it. Are you going to hold wages constant until you hit your profit target, are you going to cut staff, or are you going to do some of both?</li><li>Once you get to 15% pretax profit, then you can add employees to drive your profit back down to 10% again. Work your way back up to 15% and repeat.</li><li>If you try to raise your salary cap when you have only 10% pretax profit, you’ll drive your profit down toward 5%, which is the danger area.</li></ul>

Managing Your Salary Cap

<ul><li>Before you spend money on anything, you have to set the taxes aside.</li><li>Don’t pay taxes until you absolutely have to without incurring a penalty.</li><li>But until you pay the taxes, you have to set the money aside and get it out of your financial calculations so you know it isn’t yours to spend.</li></ul>

Business Physics: The Four Forces of Cash Flow - #1. Paying Your Taxes

<ul><li>You can’t build wealth until you get out of debt.</li><li>People who take a low- to no-debt approach can handle bad economic news because they live more stable and productive lives.</li><li>If you borrow money, you have to forgo any after-tax profits because you have to repay debt with those profits.</li><li>Do not confuse debt with capital. Capital is the cash you leave in the business to fund your receivables and inventory for normal business conditions, and debt is financing for special cases.</li></ul>

#2. Repaying Debt

<ul><li>As a general rule of thumb, your core capital target is equal to two months of operating expenses in cash and nothing drawn on a line of credit.</li><li>Your core capital target forces you to pay for accounts receivable, inventory, and equipment with capital or term debt.</li></ul>

#3. Reach Your Core Capital Target

<ul><li>Capital formation is the sum of sweat equity, the money you invest, and after-tax profits that you keep in the business.</li><li>Consistent profits over time allow you to build equity by keeping those profits in the business, which then allows you to hit your core capital target, which then allows you to have excess cash that you can take out without damaging your business’s ability to grow or deal with struggles.</li></ul> <ul><li>Most entrepreneurs who have businesses between #1 million and $5 million need to build up a foundation of $2 million of liquid, safe, core assets that give them stability.</li></ul>

#4. Taking Profit Distributions

<ul><li>Paying yourself with distributions instead of a salary to avoid payroll taxes (S-Corps).</li><li>Getting involved in offshore activities for the benefit of saving taxes only.</li><li>Intentionally miscoding personal expenses as business expenses.</li><li>Bartering by way of trading legitimate business expenses for something that is for your personal benefit.</li><li>Not filing tax forms for subcontractors.</li></ul>

Common Areas of Tax Fraud

Opportunity is missed by most people because it is dressed in overalls and looks like work.

<ul><li>Document your culture and how it ties into your profitability as a business.</li><li>The more you document it, the easier it is to live it and maintain it.</li><li>Send an email at the beginning of the week that highlights one segment of our culture document to let everyone know what our focus of the week is.</li><li>A company with great culture and no profits is going to die.</li><li>You have to make sure your culture doesn’t excuse people from getting their jobs done.</li></ul>

The Lip Service On Culture

<ul><li>Companies that underpay employees tend to struggle in the long run due to high employee turnover.</li><li>You also can’t assume that if you pay higher wages you’ll get more productivity.</li><li>Never give employees a cost-of-living adjustment.</li><li>What you pay them should be within a market-based range for their role.</li><li>Years of experience often don’t count for much. The important thing is what people know and if they have the capacity to produce.</li></ul>

The Salary To Give To Employees

<ul><li>Your employees need to understand what is expected of them in terms of productivity.</li><li>The best way to accomplish this is through the employee review process.</li><li>You need to have a formal meeting with each employee at least twice a year.</li><li>Focus on career planning and career path in employee reviews.</li><li>Help employees understand that they are welcome to work at your company as long as you both are getting a fair exchange.</li><li>It’s the responsibility of the CEO to provide employees with a vibrant environment, a fair wage, and a good culture.</li></ul>

Evaluation Process is Key

<ul><li>Throwing money at a problem doesn’t change the outcome.</li><li>Most entrepreneurs look to incentive plans as a substitute for management and leadership.</li><li>It’s usually more effective to use small amounts of money along the way to recognize outstanding achievements.</li></ul>

Be Careful With Incentive Plans

<ul><li>Capital (Equity) = What you own (Assets) – What you owe (Liabilities)</li><li>Capital is used to purchase assets, such as inventory and equipment, and allows you to have the proper amount of cash on hand to meet your core capital target.</li><li>Debt is NOT capital. The bank does not provide you with capital. They give you debt.</li></ul>

 The Three Sources of Capital: How to Get Money and Effort to Play Nicely

<ul><li>Look to your own resources first before you go borrow money elsewhere.</li><li>If you start a business with your own money, you’re going to defend it to the greatest degree.</li></ul>

Source #1: Use Your Own Money

<ul><li>Not all businesses can be funded with debt. Sometimes you need a long-term investor.</li><li>Use investor money as a last resort.</li><li>You tend not to be as careful because it’s not our money. It makes it easier to postpone difficult decisions.</li><li>When you use OPM, you have to be clear about the investors’ expectations and let them know you’re not giving them a salary. They get a salary only if they do a particular job within the business operation.</li></ul>

Source #2: Other People’s Money

Least understood and least measured form of capital (yet it’s the most common!)If you can’t afford to pay yourself a market-based wage for your efforts, then you’re going to have to defer payment and work for it.The trap that most people fall into is believing that because they have a low wage, they can live off the profits of the business. It’s better to live off your savings and let your sweat equity build capital in your business. Then pay yourself a market-based wage when your business reaches 2 or 3 percent pretax profit.

Source #3: Sweat Equity

Keep your reporting simple while still being able to recognize a flashing red light that indicates a problem.The more frequently you look at a report, the less data it should contain.

The Golden Rules Of Reports

<ul><li>Knowing the economic value of your business helps you identify when the business is underperforming, what price it should sell for, whether or not you should keep it, and how to structure an offer for shares.</li><li>The economic value of a business is typically based on the last three years of pretax profit plus the equity in a business.</li><li>This approach takes into account not only the economic activity of the business, but also how well it is capitalized.</li><li>The valuation will be lower if the business has a lot of debt.</li></ul>

Economic Value: How to Know What Your Business is Worth to You

There are five basic elements that combine to drive the profits that are used to establish the value of your business: customers, employees, processes and know-how, core capital, and intellectual property.Profitability, salary cap management, and the four forces of cash flow are all contained these five elements of value.#1. CUSTOMERS#2. EMPLOYEES#3. PROCESS AND KNOW-HOW#4. CORE CAPITAL#5. INTELLECTUAL PROPERTY

The Five Basic Elements of Value

This book teaches the fundamentals of owner compensation, profit targets, labour productivity, cash flow, and data reporting. Clear explanations and helpful illustrations throughout make it a must-read guide for small business owners looking to achieve higher profits.

Simple Numbers can guide you to increased business profitability Take the mystery out of small business finance with this no-frills guide to understanding the numbers that will guide your business out of any financial black hole. Author Greg Crabtree, a successful accountant, small business advisor, and popular presenter, shows you how to use your firm's key financial indicators as a basis for smart business decisions as you grow your firm from startup to $5 million (and, more ) in annual revenue. Jargon free, and presented in an easy-to-follow, step-by-step format, with plenty of real-world examples, Crabtree's down-to-earth discussion highlights the most common financial errors committed by small businesses, and how to avoid them. You'll be fascinated to learn: Why your numbers are lying to you (and why you are the cause ) How labor productivity is the key to profitability and simplifying human resource decisions Why the amount of tax you pay is your #1 key performance indicator Take advantage of Crabtree's years of experience teaching clients how to build successful businesses by ''seeing beyond numbers'' with this step-by-step guide to increasing your businesses profitability.

moneyandinvestments

Money & Investments

business

Business

books

Books

Gregory Burges Crabtree

Beverly Herzog

Simple Numbers, Straight Talk, Big Profits!

Seek wealth, not money or status. Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth. Status is your place in the social hierarchy.

Seek Wealth

Understand that ethical wealth creation is possible. If you secretly despise wealth, it will elude you.

Ignore people playing status games. They gain status by attacking people playing wealth creation games.

You’re not going to get rich renting out your time. You must own equity - a piece of a business - to gain your financial freedom.

You will get rich by giving society what it wants but does not yet know how to get. At scale.

Pick an industry where you can play long term games with long term people.

The Internet has massively broadened the possible space of careers. Most people haven't figured this out yet.

Play iterated games. All the returns in life, whether in wealth, relationships, or knowledge, come from compound interest.

Pick business partners with high intelligence, energy, and, above all, integrity.

Don't partner with cynics and pessimists. Their beliefs are self-fulfilling.

Learn to sell. Learn to build. If you can do both, you will be unstoppable.

Arm yourself with specific knowledge, accountability, and leverage.

Specific knowledge is knowledge that you cannot be trained for. If society can train you, it can train someone else, and replace you.

Specific knowledge is found by pursuing your genuine curiosity and passion rather than whatever is hot right now.

When specific knowledge is taught, it’s through apprenticeships, not schools.

Building specific knowledge will feel like play to you but will look like work to others.

Specific knowledge is often highly technical or creative. It cannot be outsourced or automated.

Embrace accountability, and take business risks under your own name. Society will reward you with responsibility, equity, and leverage.

The most accountable people have singular, public, and risky brands: Oprah, Trump, Kanye, Elon.

“Give me a lever long enough, and a place to stand, and I will move the earth.” - Archimedes

Fortunes require leverage. Business leverage comes from capital, people, and products with no marginal cost of replication (code and media).

Capital means money. To raise money, apply your specific knowledge, with accountability, and show resulting good judgment.

Labor means people working for you. It's the oldest and most fought-over form of leverage. Labor leverage will impress your parents, but don’t waste your life chasing it.

Capital and labor are permissioned leverage. Everyone is chasing capital, but someone has to give it to you. Everyone is trying to lead, but someone has to follow you.

Code and media are permissionless leverage. They're the leverage behind the newly rich. You can create software and media that works for you while you sleep.

An army of robots is freely available - it's just packed in data centers for heat and space efficiency. Use it.

If you can't code, write books and blogs, record videos and podcasts.

Leverage is a force multiplier for your judgement.

Judgement requires experience, but can be built faster by learning foundational skills.

There is no skill called “business.” Avoid business magazines and business classes.

Study microeconomics, game theory, psychology, persuasion, ethics, mathematics, and computers.

Reading is faster than listening. Doing is faster than watching.

You should be too busy to “do coffee," while still keeping an uncluttered calendar

Set and enforce an aspirational personal hourly rate. If fixing a problem will save less than your hourly rate, ignore it. If outsourcing a task will cost less than your hourly rate, outsource it.

Work as hard as you can. Even though who you work with and what you work on are more important than how hard you work.

Become the best in the world at what you do. Keep redefining what you do until this is true.

There are no get rich quick schemes. That's just someone else getting rich off you.

Apply specific knowledge, with leverage, and eventually you will get what you deserve.

When you're finally wealthy, you'll realize that it wasn't what you were seeking in the first place. But that's for another day.

From the eponymous tweet storm of Naval Ravikant. I have benefitted heavily from this guy.

philosophy

Philosophy

How to Get Rich (without getting lucky): Naval Ravikant

<ol><li class="ql-align-justify">The first way to make more money as a Ux designer is to be obsessed. Always be curious and get good at your craft</li><li class="ql-align-justify">The second way that you can make more money is to get a lot of different experiences, in many different areas of UX Design</li><li class="ql-align-justify">The third way you can make more money is to add more skills to your already existing skill in UX Design. For instance, computer programming and interaction design. You can also learn how to facilitate workshops.</li></ol>

3 Ways You Can Make More Money as a Ux designer

As a UX Designer we want to get paid what we deserve, here are 3 important ways to make more money as a UX Designer

If you're a beginner or a mid-level UX designer looking for a way to increase your UX designer salary and make more money, then you should consider at least one of these 3 paths. In this video AJ&Smart CEO Jonathan Courtney shares the best 3 ways to earn more money as a UX designer and how you can boost your earnings in the field of UX/UI design too. The advice in this video comes from Jonathan's experience as a CEO of a Product Design Agency, who has worked with UX designers and has hired in-house and freelance UX designers over the past 10 years. ➡️ If you want to learn more about Facilitation and Workshopping check out our FREE training here 👉 https://go.ajsmart.com/start 🤔 Which of these 3 paths resonated with you the most? Do you have more questions about being a UX Designer? Share your questions in the comments below 👇 ⏰ Video timestamps: 0:00 Intro 1:12 Path 1 - Become the best at UX design 3:00 Tip 1 - Become obsessed with the product world 3:49 Tip 2 - Get a lot of different experience 5:15 Tip 3 - Work at an agency with a lot of client products 5:50 Path 2 - Move away from EXECUTION towards STRATEGY 9:15 Book 1 - The Lean Startup 9:56 Books 2+3 - Business Model Generation + Value Proposition Design 10:39 Book 4 - Good Strategy Bad Strategy 11:10 Medium Article - What The F#@k Is Strategy? 12:10 Path 3 - Layering on high value, complementary skills 12:39 Example skill 1 - Facilitation & Workshopping 14:49 Example skill 2 - Development 15:39 Example skill 3 - UX research 17:03 Summary + Conclusion 🌳 Resources named in the video: Book 1 - The Lean Startup by Eric Ries http://theleanstartup.com/ Book 2 - Business Model Generation by Alexander Osterwalder and Yves Pigneur https://www.strategyzer.com/books/business-model-generation Book 3 - Value Proposition Design - Alexander Osterwalder and Yves Pigneur https://www.strategyzer.com/books/value-proposition-design Book 4 - Good Strategy Bad Strategy by Richard Rumelt http://goodbadstrategy.com/ Book 5 - Blue Ocean Strategy by W. Chan Kim and Renée Mauborgne https://www.blueoceanstrategy.com/ Book 6 - Playing To Win by A.G. Lafley and Roger L. Martin https://rogerlmartin.com/thought-pillars/strategy Medium Article - What The F#@k Is Strategy? https://medium.com/just-thinking/what-the-f-k-is-strategy-fc1195846e55 Thanks for watching! ---- #UXDesigncareer #UXDesign #UXDesigner 📩 If you want to stay ahead of the Workshop / Facilitation game, level up your career, and be in the know on the nerdiest, 'techiest' things, sign up for our FREE newsletter here: 👇 📝 https://aj-smart.ck.page/21100f1c73 👀 🔔 And if you haven't yet subscribed to our Youtube channel for more Workshop / Facilitation Skills/ Career / and Design Sprint videos: ❤️ https://www.youtube.com/AJ&Smart?sub_confirmation=1😉 📗If you want to learn even more about Workshop Facilitation grab our Free Facilitation Guidebook https://go.workshopper.com/facilitation-gb Want more? Join 200,000+ people subscribing to our AJ&Smart YouTube, LinkedIn, and Instagram channels for free content to help you and your team do more valuable work. AJ&Smart is the #1 design sprint firm in the world, the official Design Sprint training partner with Jake Knapp, inventor of the google design sprint, and partner of choice for the world's most successful brands. 3 Ways To Increase Your UX Designer Salary (2022) https://youtu.be/5OI_AyNrObw

career

Career

personaldevelopment

Personal Development

product

Product & Design

If you're a beginner or a mid-level UX designer looking for a way to increase your UX designer salary and make more money, then you should consider at least one of these 3 paths. 

In this video AJ&Smart CEO, Jonathan Courtney shares the best 3 ways to earn more money as a UX designer and how you can boost your earnings in the field of UX/UI design too. The advice in this video comes from Jonathan's experience as a CEO of a Product Design Agency, who has worked with UX designers and has hired in-house and freelance UX designers over the past 10 years.      

➡️  If you want to learn more about Facilitation and Workshopping check out our FREE training here 👉  https://go.ajsmart.com/start

💰 Check out our guide to UX Design Salaries in 2022: https://www.workshopper.com/post/ux-designer-salary 🤑

🤔  Which of these 3 paths resonated with you the most? Do you have more questions about being a UX Designer? Share your questions in the comments below 👇

⏰ Video timestamps:

0:00 Intro
1:12 Path 1 - Become the best at UX design
3:00 Tip 1 - Become obsessed with the product world
3:49 Tip 2 - Get a lot of different experience
5:15 Tip 3 - Work at an agency with a lot of client products
5:50 Path 2 - Move away from EXECUTION towards STRATEGY
9:15 Book 1 - The Lean Startup
9:56 Books 2+3 - Business Model Generation + Value Proposition Design
10:39 Book 4 - Good Strategy Bad Strategy
11:10 Medium Article - What The F#@k Is Strategy?
12:10 Path 3 - Layering on high value, complementary skills
12:39 Example skill 1 - Facilitation & Workshopping
14:49 Example skill 2 - Development
15:39 Example skill 3 - UX research
17:03 Summary + Conclusion

🌳  Resources named in the video:

Book 1 - The Lean Startup by Eric Ries
http://theleanstartup.com/

Book 2 - Business Model Generation by Alexander Osterwalder and Yves Pigneur
https://www.strategyzer.com/books/business-model-generation

Book 3 - Value Proposition Design - Alexander Osterwalder and Yves Pigneur
https://www.strategyzer.com/books/value-proposition-design

Book 4 - Good Strategy Bad Strategy by Richard Rumelt
http://goodbadstrategy.com/

Book 5 - Blue Ocean Strategy by W. Chan Kim and Renée Mauborgne
https://www.blueoceanstrategy.com/

Book 6 - Playing To Win by A.G. Lafley and Roger L. Martin
https://rogerlmartin.com/thought-pillars/strategy

Medium Article - What The F#@k Is Strategy?
https://medium.com/just-thinking/what-the-f-k-is-strategy-fc1195846e55


Thanks for watching!

----

#UXDesigncareer #UXDesign #UXDesigner

📩 If you want to stay ahead of the Workshop / Facilitation game, level up your career, and be in the know on the nerdiest, 'techiest' things, sign up for our FREE newsletter here:  👇
📝  https://aj-smart.ck.page/21100f1c73   👀

🔔 And if you haven't yet subscribed to our Youtube channel for more Workshop / Facilitation Skills/ Career / and Design Sprint videos: ❤️ https://www.youtube.com/AJ&Smart?sub_confirmation=1😉

📗If you want to learn even more about Workshop Facilitation grab our Free Facilitation Guidebook https://go.workshopper.com/facilitation-gb

Want more? Join 200,000+ people subscribing to our AJ&Smart YouTube, LinkedIn, and Instagram channels for free content to help you and your team do more valuable work.

AJ&Smart is the #1 design sprint firm in the world, the official Design Sprint training partner with Jake Knapp, inventor of the google design sprint, and partner of choice for the world's most successful brands.

3 Ways To Increase Your UX Designer Salary (2022)
https://youtu.be/5OI_AyNrObw

Hey, we're AJ&Smart! We're a product design and innovation studio based in Berlin, Germany! We work with some of the biggest companies in the world to help them build better products faster. It's our goal to give you as much value as possible here on our Youtube channel. We upload new videos every week about product design, ux design, design sprints and a whole lot more! For regular design content, design learning please subscribe now!  
WE LOVE YOU!

For more helpful content visit our Workshopper hub: https://workshopper.com/

AJ&Smart

3 Ways To Increase Your UX Designer Salary (2023)

3 Ways To Increase Your UX Designer Salary (2022)

Founded in early 2020 by inaugural team members at Algorand and esteemed MIT graduates, Axelar is an infrastructure protocol that fosters interoperable connectivity between blockchain platforms, decentralized applications (DApps) and associated functionalities.

the “primary focus is to provide universal interoperability with minimal risk,” and that “the funds will be used to continue building the core network functionalities, and scaling integrations with more blockchains and applications.”“It’s clear that developers want the ability to build on the chain that best suits their needs, without siloing liquidity. Users want the same thing. At Axelar, it is our goal to minimize the risks involved in cross-chain activity, and maximize the potential benefits to developers and users.”

The platform's unicorn-level valuation affirms the burgeoning demand for decentralized cross-chain service providers in the blockchain industry. 

crypto

Cryptocurrency

technologyandthefuture

Technology & The Future

startup

Startups

Blockchain platform Axelar establishes unicorn status, mainnet launch impending

You became what you thinking. In your life till now , you became what you thinking before. So if you want to be Rich structure properly your Mindset, it is the beginning and everything for a rich and successful person

Money Makig Mind Set

If you want to be rich, visualise that you're already in that state. If you set your mind as you already a rich, it is easy to be adopt to become rich. At the beginning it is hard to visualise, but don't give up. Visualise well that how you want to be

Visualise Your Thought

Affirmations is the best thing to do. Tell yourself or see yourself in mirror and tell how you want to become daily. Afirrm in the Morning after you wake up and also before you going to bed at night

Affirming Your Ideas

Writing is the greatest gift where humans have. If you write down any of your problem it will be half solved. So if you write down your ideas, it will gradually store in your subconscious mind and it will dominate you and you'll become rich

Write Down Your Ideas

" Rome is not built in a Day ".Everything takes time. At the beginning you see more opportunities and increment, but at the mid you didn't see any changes, it actually makes a momentum for the great launch. Don't give up the Affirmations, writing and Visualisation. Everything tells you what to do when time

Time Period

If you want to know How to be Rich, here are the top 5 things you have to know amd to do Daily to become Rich

habits

Habits

5 thigs to Become Rich

You might think that you only buy what you need when you need it. But whether you are shopping for food, clothes or gadgets, the retailers are using the power of psychological persuasion to influence your decisions – and help you part with your cash.

Shopping Is A Mouse Trap

Why do shops like to move everything around? Well, it’s actually a simple answer. Changing the location of items in a store means that we, the customers, are exposed to different items as we wander around searching for the things we need or want. This ploy can often significantly increase <a href="https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.227.8388&rep=rep1&type=pdf">unplanned spending</a>, as we add additional items to our baskets – often on impulse – while spending more time in the shop.

You Are A Lab Rat In A Supermarket

Studies suggest that as much as 50% of all groceries are sold because of impulsiveness – and over 87% of shoppers make impulse buys.It is known that external shopping cues – “buy one get one free” offers, discounts and in-store promotional displays, for example – play a key role.An appealing offer can lead to a rush of temporary delight, and this makes it harder to make a rational buying decision. We’re overcome by the perceived value of the “saving” if we buy the item in the here and now – so we ignore other considerations such as whether we really need it.

Impulse Buying

Bundling is another technique that retailers use to trigger impulse buying. Complementary products are packaged together as one product, with one price, which often provides a substantial discount. Game consoles, for example, are often sold together with two or three games, and grocery stores have “meal deal” bundles and even web pages dedicated to a whole range of bundle offers.

Bundling

<ul><li>While these strategies can help to swell the profits of retailers, they can also contribute to problems for their customers.</li><li>Impulse buying can undoubtedly affect a consumer’s mental wellbeing. It increases feelings of shame and guilt, which in turn can lead to anxiety, stress and depression.</li><li>It’s potentially even more serious when buying on impulse leads to excessive buying, especially if people spend money they don’t have.</li></ul>

The Bottom Line

Retailers have a range of strategies to encourage us to spend more - but they can help us to make healthier choices too.

Understand yourself and those around you.

psychology

Psychology

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Marketing & Sales

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Leadership & Management

How shops use psychology to influence your buying decisions

Save with the idea that the world breaks every few years — a recession, a pandemic, a terrorist attack. These events rock the economy and crush the stock market. It’s been like that forever and it’ll be like that forever.The only way to endure that world is to save like a pessimist: keep a big emergency fund, avoid too much debt, and always have a backup plan.Save your money like a pessimist and invest your money like an optimist.

The Reason To Save

Invest knowing that if you can endure the short-term chain of financial disappointments and setbacks, things usually get better. People are good at solving problems and becoming more productive. We rebuild. We’re amazing at innovating.Saving like a pessimist is what lets you stick around long enough for your long-term investments to actually grow, compound, and benefit from society’s progress.

Investing Like An Optimist

Morgan Housel’s simple philosophy on how to save and invest.

Save like a pessimist, invest like an optimist

Experiences and life stories of great minds can inspire, motivate and encourage us to take the right action and step towards what we want in life and career.

10 Biographies that will teach you more than Business Books

Author : Phil KnightReview: This book truly defines a founder’s romance to his product and shows how one of the most iconic brand NIKE came into existence. A memoir rich with not only insight, humour and hard-won wisdom but also studded with lessons about building something from scratch, overcoming adversityQuote that I loved :"The cowards never started and the weak died along the way. That leaves us, ladies and gentlemen. Us.“<a href="https://amzn.to/3xcSg53">Click to add it on your Bookshelf</a>

Shoe Dog: A Memoir by the Creator of NIKE

Author: Robert Iger Review: Robert Iger encapsulates 10 great leadership lessons that are applicable not just for the CXOs but for anyone who wants to add drive, focus and structure to their professional lives. The book is more like a narration of the lessons he learnt as he grew older. We would recommend this to almost any executive or business owner.Quote that I loved :"Ask the questions you need to ask, admit without apology what you don’t understand, and do the work to learn what you need to learn as quickly as you can" <a href="https://amzn.to/3LRMWYJ">Click to add it on your Bookshelf</a>

The Ride of a Lifetime: Lessons Learned from CEO of Disney

Author: T.J. StilesReview: The epic story of Cornelius “Commodore” Vanderbilt, the combative man and American legend who aided in the birth of the automobile, the Gold Rush, the reshaping of Manhattan, and the invention of the modern business. The book not only depicts a man’s life (both personal and professional), but also the evolution of the American economic system in the nineteenth century..Quote that I loved:"Gentlemen You have undertaken to cheat me. I won’t sue, for the law is too slow. I’ll ruin you. Yours truly, Cornelius Vanderbilt"﻿<a href="https://amzn.to/3upuv84">﻿Click to add it on your Bookshelf</a>

The First Tycoon

Author: Walter IsaacsonReview: Walter Isaacson describes the story of a visionary entrepreneur whose voracious ambition and love for excellence revolutionized industries. This globally renowned, bestselling biography is based on more than forty interviews with Steve Jobs conducted over two years, as well as interviews with over a hundred family members, friends, enemies, competitors, and coworkers.Quote that I loved:"People who know what they’re talking about don’t need PowerPoint." <a href="https://amzn.to/3LSijCK">﻿Click to add it on your Bookshelf</a>

Steve Jobs: The Exclusive Biography  

Author: Alice SchroederSynopsis: Alice Schroeder used her unprecedented access into the life of buffet and the people close to him to bring the life story of the most successful investor of our times, Oracle of Omaha himself Warren Buffet.The Snowball is required reading for anyone interested in learning more about the man behind the extraordinary achievements.Quotes that I loved:“Be fearful when others are greedy, and greedy when others are fearful.” <a href="https://amzn.to/3utGotO">Click here to add it on your Bookshelf</a>

The Snowball: Warren Buffett and the Business of Life  

Author: Girish KuberReview: This book is a fascinating read, it rivetingly captures 200 years of the glorious history of the Tatas, whose ups and downs are mirrored in the development of India itself.Quote that I loved:“India was waking upto the call of independence and the Tatas realised that they needed to contirbute to the cause.“ <a href="https://amzn.to/3uo4mGG">Click here to add it on your Bookshelf</a>

The Tatas: How a Family Built a Business and a Nation

Author: Ashlee VanceReview: Vance does a commendable job of penning down life story of one of the most revered man of 21st century. He takes you deep into the details from Musk’s childhood in South Africa, all the way to Canada & the United States to show how he managed to thrive while being on the verge of bankruptcy and loosing both Tesla & SpaceX.Quote that I loved:"Once you figure out the question, then the answer is relatively easy. We should aspire to increase the scope & scale of human consciousness in order to ask better questions" <a href="https://amzn.to/3Jw0F5Y">Click here to add it on your Bookshelf</a>

Elon Musk: Tesla, SpaceX, and the quest for a Fantastic Future

Click the link below to check out remaining 3 books which are as valuable as the ones above.<a href="https://thingstodoclub.com/10-biographies-that-will-teach-you-more-than-business-books/">10 Biographies that will teach you more than Business Books</a>

Experiences and life stories of great minds can inspire, motivate and encourage us to take the right action and step towards what we want in life and career. 

April 10, 2022 These 10 biographies will teach you more than any business books in market 

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Problem Solving

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