Seven Titans Share The No. 1 Business Lesson They Teach Their Kids

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Children of successful parents are bound to learn invaluable lessons about life and business. We asked these titans and Advisors from The Oracles what they would teach their kids if they could only give them one piece of business advice. Here’s what they said.

From L to R: Grant Cardone, Jessica Mead, Billy Gene Shaw III, Jeanine Blackwell, Abdul Samad Farooqi, Joshua Harris, Los SilvaThe Oracles

1. Go 10X.

I plan to teach my kids the most important lesson in business: the 10X Rule. In the seven years since I published The 10X Rule: The Only Difference Between Success and Failure, it’s turned into a movement, culminating in the 10X Growth Conference, now one of the largest business conferences in the nation.

The 10X Rule says that you should set targets that are 10X greater than what you believe you can achieve. You should then take actions that are 10X greater than you believe are necessary to achieve those targets. This was the most important thing I ever did for my business — and it is the most important thing you can do for yours. Grant Cardone, sales expert who has built a $750-million real estate empire, and NYT-bestselling author; follow Grant on Facebook, Instagram or YouTube

2. Invest in relationships.

The No. 1 lesson I teach my children is vital in business and life: Focus on relationships. Take time and have the patience to develop the right relationships, and that investment will help you tenfold in life.

I work with my kids on listening, engaging and retaining the knowledge they gain in all their relationships. I encourage them to ask questions to identify how they can help or add value to others.  This helps them become better communicators and human beings so they can grow into thriving adults. Jessica Mead, co-founder of EpekData and BrandLync, divisions of Mead Holdings Group, Inc. Follow Jessica on Instagram

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3. Don’t live to build a business. Build a business to live.

Like most dads, I ultimately want my daughter to be happy. I believe a big part of happiness comes from being financially and personally self-reliant. I will teach her about entrepreneurship as her vehicle to independence, and that no person or collegiate institution will dictate her self-worth.

However, she will not live to build a business. She will build a business so she can live — on her terms. Business may make you successful, but it will never make you feel fulfilled. True fulfillment only co­­­­­­mes when you’re more concerned with your impact than your income. Billy Gene Shaw III, founder and CEO of Billy Gene Is Marketing, one of the world’s top online marketing influencers, educators and practitioners; follow on Instagram and Facebook

4. Forget your weaknesses; focus on your strengths.

It’s easy to focus on what we aren’t good at. We learned this when we brought home a report card with all A’s and a C in algebra — which prompted our parents to coach us to become a math whiz. We learned it again in a performance review when our manager wrote an improvement plan focused on our weaknesses. But with this approach, you spend your energy on something at which you will likely only become average at best.

I want my daughters to know that you are rewarded in life, relationships and business for the value you bring. Your greatest contribution always comes from focusing on your strengths. When you do that, you get to do meaningful work in your zone of genius, build rockstar teams, and grow a business with a sustainable advantage. To be successful, go all in on your strengths and work around your weaknesses. Jeanine Blackwell, bestselling author, creator of The Expert Experience Method; trained over 40,000 experts (including Fortune 500 companies) to package their expertise into products; connect with Jeanine on Facebook

5. Think of problems as gold you can mine.

Look at problems as opportunities. The problem solver gets all the rewards, financial or otherwise. The bigger the problem, the bigger the opportunity. With each one comes potential waiting to be realized. This is one of the reasons I’m bullish on emerging economies.

Once you have that perspective, business becomes more exciting. You get a flood of energy from problem-solving, helping people and changing the world. That’s exactly the culture we strive for in our business coaching academy and marketing agency. —Abdul Samad Farooqi, founder & CEO of Lions Marketing  and The Millionaire Middleman Agency Coaching Program

[“source=forbes]

Domestic business, Bhushan buy boost Tata Steel’s Q2 numbers

tata steel-bccl
Tata Steel could also resort to “portfolio monetisation” to trim its debt.
Mumbai: Taking advantage of favourable business climate, Tata Steel on Tuesday reported a stellar show for the September quarter, beating market estimates.

The company’s financials were way ahead of the street estimates, driven by higher realisations in the domestic business and strong contributions from the
Auto and branded retail accounted for nearly half the total deliveries made in the quarter. “We are ramping up operations at Bhushan Steel and expanding 5 mtpa at Tata Steel Kalinganagar,” said TV Narendran, CEO, Tata Steel.

The company has also signed a definitive agreement to acquire 1 mt-long product steel plant of Usha Martin.

For the September quarter, the company’s revenues stood at Rs 43,554 crore, 34 per cent higher year-on year. EBIDTA grew by 92 per cent to Rs 9,000 crore, while net profit trebled to Rs 3,116 crore.

recently acquired Bhushan Steel. The performance of the overseas businesses though, especially Europe, was lacklustre due to plant shutdowns.

Greater footprint in the more lucrative domestic market, with increasing focus on the less cyclical and higher margin automotive and branded retail segment augur well for the shareholders, who have expressed concerns over the company’s mounting debt.

[“source=forbes]

Adobe CEO Shantanu Narayen in Fortune Business Person of the Year list

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Indian-American Shantanu Narayen, the CEO of Adobe, has been named by Fortune in its 2018 Business Person of the Year list, which ranks 20 business executives “delivering on the bottom line and beyond”.

Narayen, 56, ranks 12th on the list, which has been topped by CEO of insurance company Progressive Tricia Griffith and includes CEO of graphics chipmaker Nvidia, Jensen Huang, French conglomerate Kering CEO François-Henri Pinault, Amazon CEO Jeff Bezos and PayPal CEO Dan Schulman.

On Narayen, Fortune said “the maker of creativity tools like Photoshop doesn’t quite grab headlines like some of its Silicon Valley neighbours. But Adobe is playing the long game—and so is Shantanu Narayen.”

In November, Narayen celebrated his 11th anniversary at the helm, a tenure that is increasing rare in corporate America, Fortune said.

“Narayen’s move to turn boxed software into cloud services gave the San Jose company a subscription business that keeps on giving. And his recent rash of marketing-tech acquisitions…signals he is not afraid to compete with Salesforce and Oracle. A quiet giant? Not anymore.”

In choosing Fortune’s Business person of the Year, the publication weighs 10 financial metrics including 12-month and 36-month increases in profits and revenue, stock performance and total shareholder returns.

[“source=forbes]

Trump Jr’s business trip to India cost US taxpayers nearly $100,000: Report

A business trip by Donald J Trump Jr, the son of the US president, this year to India cost the American tax payers about USD 100,000 in fees related to the Secret Service agents guarding him and other costs, according to a media report.

In February this year, Donald J Trump Jr, 40, had travelled to four Indian cities, New Delhi, Mumbai, Pune and Kolkatta, to promote the high-rise luxurious condos being build by the Trump Organization, of which US president Donald Trump is the sole owner. Trump Jr is the vice president of his family owned company.

The Washington Post reported on Thursday that it calculated this figure from the documents it obtained from the Department of Homeland through the Freedom of Information Act, which is similar to India’s Right to Information Act.

The documents showed that “Trump Jr’s February trip cost more than USD 97,805 for hotel rooms, airfare, car rental and overtime for Secret Service agents,” the daily reported.

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The White House and Donald J Trump Jr did not immediately respond to the news report, which their political opponents on the social media alleged the Secret Service expenses for his trip to promote condos in India was misuse of tax payers money.

As per US laws, the President and his immediate family members are entitled to protection by the Secret Service. Same is the case with the former presidents and their family members too.

“Donald Trump Jr went to India to promote condo sales. His trip cost taxpayers almost USD 100,000. That’s essentially the government spending money on the president’s private business,” Citizens for Ethics, a watch dog, alleged in a tweet.

Because the president has not placed his assets in a blind trust, as other presidents have done, he still effectively controls his real estate empire and benefits from his children’s travels, Jordan Libowitz, communications director for the Washington-based watchdog group told the Washington Post.

“The issue is that essentially the president still owns his businesses, and these trips are being done to make the president money. Essentially the government is spending money for the president’s private businesses,” Libowitz told the daily.

[“source=forbes]