Career Archives

Why the Traditional Formula for Wealth Falls Short

What’s the traditional formula for wealth? Does the formula work? What uncontrollable factors doesn’t it account for? In The Millionaire Fastlane, multimillionaire entrepreneur and investor MJ DeMarco challenges conventional wisdom about how to create wealth. He says that the traditional formula for wealth—getting a stable job and investing—may work, but it’s not necessarily going to make you happy. Here’s why you should re-think your financial plan.

How to Create Passive Income: Leverage Time

What’s the quickest way to become wealthy? How can you create passive income? MJ DeMarco, multimillionaire entrepreneur and investor, argues that the traditional path to wealth—working for a salary and investing in stocks—is too slow and unreliable. Instead, he says that the fastest way to become wealthy is to create passive income and increase your net worth. Here’s how to become wealthy by leveraging time.

How to Increase Your Income: 7 Tips From a Millionaire

Do you want to know how to increase your income? What kinds of businesses will make you rich? In his book, The Millionaire Fastlane, entrepreneur and millionaire MJ DeMarco says that the fastest way to become rich is by creating a business that generates passive income—and then compounding that income. However, not all businesses will make you rich. Here are DeMarco’s seven methods for dramatically increasing your income.

How to Improve Sales Skills: 3 Strategies for Success

What are some ways to make a good impression on prospective customers? What skills should you sharpen? Jeffrey Gitomer, the author of The Sales Bible, recommends polishing your selling skills in order to impress your prospects. This includes knowledge, preparedness, and several other qualities that can make you an effective salesperson. He shares three strategies that can drive you toward sales success. Keep reading to learn how to improve sales skills.

Netflix’s Approach to Organizational Transparency

Is it a good idea for company executives to share sensitive information with all employees, including finances and employee profiles? What practices does Netflix use to ensure organizational transparency? According to Reed Hastings, the CEO of Netflix, there are many benefits of transparency in the workplace. That’s why at Netflix, they are transparent about financial data, job security, mistakes, and even firings. Let’s look at four specific ways that Netflix practices organizational transparency and the positive outcomes that come from this practice.

How to Schedule Your Time in the Most Optimal Way

How should you optimally spend your working hours every day? What tasks should you complete first? Your optimal scheduling depends on your goals and priorities. In their book Algorithms to Live By, Christian and Griffiths make a case of using computer algorithms to schedule your day in the most optimal way. Here is how to schedule your time using Christian and Griffiths’s scheduling algorithms.

Netflix: Innovation Is a 4-Step Process

What is it like to work at Netflix? Does Netflix have an innovative culture? As a company with no vacation or expense policy, Netflix is no stranger to taking an unorthodox approach to management. One of Netflix’s more unique policies is the freedom it gives to its employees to innovate and make risky decisions, despite the chance that they won’t pay off. Keep reading to learn about Netflix’s method of inspiring innovation (what the company calls the “Netflix Innovation Cycle”).

When to Fire an Employee Who Is Only “Good Enough”

How do you know when to fire an employee? Why should you fire employees who are “good” but not “great”? At Netflix, Reed Hastings’s policy is to fire an employee even if they haven’t done anything wrong. He treats his company like a sports team—you will be replaced if the company finds someone better. This may sound harsh, but it’s part of the reason why Netflix is such a successful company. Here’s why Netflix lets go of adequate employees and how to manage the potential pitfalls of this practice.

Starting a Second Career: Advantages and Pathways

Are you entertaining the idea of starting a second career? What are the advantages of having two careers? A second career is a career you initiate around the midpoint in your working life. According to Peter Drucker, there are two key advantages of starting a second career: 1) avoiding career stagnation, and 2) having an extra opportunity for professional realization. Let’s explore Drucker’s notion of a second career, its advantages, and how to start it.

Peter Drucker: Managing Oneself—Book Overview

What’s Peter Drucker’s Managing Oneself about? What’s the key message to take away from the book? Managing Oneself discusses how to take charge of your career to maneuver yourself into your ideal job. Peter Drucker, the author of many works on management theory, outlines the most important factors that he believes will help you succeed in your career efficiently. He asks that you manage yourself and take actions now that will lead to a flourishing career in the future. Here’s our review of Managing Oneself by Peter Drucker.