Winning Streaks, Losing Streaks and the Game of Life

How do these lessons about confidence help you in your everyday life? The secret to winning is not to lose twice in a row.

Confidence brings the resilience to bounce back from defeat to victory. It does not guarantee that you will win every single time, but confidence makes people more likely to analyze problems and face them head-on, communicate and cooperate with those whose support they need, and take initiative to make adjustments or try innovations. People with confidence can count on themselves to shape events, and they know they will stay in the game no matter what.

The only good thing about losing is that it sounds an alarm bells and can shake people out of complacency. A setback represents a time to make a choice, to make a difference, or to slip into self-defeating behavior. The dividing line between winning streaks and losing streaks is the choice of behavior in response to set-backs. The choice to rally instead of getting discouraged is that of an optimist who assumes negative events are temporary glitches rather than a permanent state of affairs.

Internal Supports 

Successful people also have character, the internalized three cornerstones of confidence accountability, collaboration and initiative and the ability to support others. When the going gets tough, they draw on those internal supports. Character is shaped by values and the desire to achieve excellence in all pursuits, regardless of the outcome.

They know that getting beaten by a better opponent is different than losing. As long as they are playing at the highest level, they will resume winning. Their standards are internal and they have the perseverance to stay in the game just a little longer. Winners define setbacks as detours, and they redouble their efforts to find a way around the obstacles.

One of the best things a winner can do when facing a loss is to think of others. Winners avoid the loser’s temptation to shut down and withdraw. People must build their own mini-network, knowing that others can be remarkably generous.

The Long March

Winners also avoid the loser’s habit of assuming too much. Winners don’t focus on the huge goal in thefuture; they work step-by-step to progress a little faster or a little smarter. They know they can’t jump stages. Winning is a long march, and even when the problems seem overwhelming, winners focus on what they can control — being prepared, working hard, and accomplishing small wins that will improve the odds of achieving the next big success.

For additional information on how confidence can affect personal life, go to: http://my.summary.com

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Technology is the illwind that blew African banks

Increasingly mobile banking and e-wallets which most fintech businesses are offering  have been said to have a significant impact in helping to reduce banking logjam, offering a range of alternative payment methods as well as lending and savings services to formerly unbanked people.

A recent study by McKinsey and Company indicates that digital finance has the potential to reach over 1.6 billion new retail customers in emerging economies and to increase the volume of loans extended to individuals and businesses by $2.1 trillion.

However, the progress and ambition has been amidst some resistance from some countries to adopt new technologies.

For instance, Blockchain technology continues to face widespread resistance in a number of African countries despite potential benefits in the technology promises.

Information technology is an ill wind that blows nobody any good.  Although, increase technological support and collaboration with the tech community whilst deepening the Bank’s technological inclusion framework to improve its product offerings and services delivery experience.

The accuracy of that callous observation can be seen in the current labor mayhem trashing African banking sector. The pace of adoption of emerging technologies across regional countries has increased in recent years consequently impacting lives of end users. Through  technological adoptability at a large scale, the illegally-striking workers are doing not exactly what is needed to bring a positive correction to the fundamentals of the banking business in Africa.

In turn, the push for digitalisation and the growing adoption of new technologies into trade finance processes is expected to help alleviate some of the sector’s regulatory concerns, helping to increase efficiency and decrease costs. The continued overhaul of the trade finance sector will allow for banks in Africa to engage more efficiently with their clients, and allow them to process higher amounts of trade finance than ever before.

 

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Connecting innovation mechanism for entrepreneurial success

Innovation and entrepreneurship are essential ingredients in building a successful commercial venture. It’s clear that innovation and entrepreneurship are closely linked; sometimes the terms are even used interchangeably. But, as two distinct yet interrelated concepts, it can be tricky to pinpoint the exact relationship between them.

The process of translating an idea or invention into a good or service that creates value or for which customers will pay.

For businesses, this could mean implementing new ideas, creating dynamic products or improving your existing services. Innovation can be a catalyst for the growth and success of your business, and help you to adapt and grow in the marketplace.

Being innovative does not only mean inventing. Innovation can mean changing your business model and adapting to changes in your environment to deliver better products or services. Successful innovation should be an in-built part of your business strategy, where you create a culture of innovation and lead the way in innovative thinking and creative problem solving.

Innovation can increase the likelihood of your business succeeding. Businesses that innovate create more efficient work processes and have better productivity and performance.

To be called an innovation, an idea must be replicable at an economical cost and must satisfy a specific need. Innovation involves deliberate application of information, imagination and initiative in deriving greater or different values from resources, and includes all processes by which new ideas are generated and converted into useful products. In business, innovation often results when ideas are applied by the company in order to further satisfy the needs and expectations of the customers.

In a social context, innovation helps create new methods for alliance creation, joint venturing, flexible work hours, and creation of buyers’ purchasing power.

Being innovative means to be open to change and not just open to change but proactively seeking change so it is always asking the question of what is next, what can we do better, what can we do differently and not just for the sake of doing it differently but to create more value than it’s currently created.

Innovation is synonymous with risk-taking and organizations that create revolutionary products or technologies take on the greatest risk because they create new markets.

Imitators take less risk because they will start with an innovator’s product and take a more effective approach. Examples are IBM with its PC against AppleComputer, Compaq with its cheaper PC’s against IBM, and Dell with its still-cheaper clones against Compaq.

What motivates innovative entrepreneurs are materializing new ideas/developing new technologies, which satisfy needs in the market, and being financially independent but making more money than paid jobs.

As an entrepreneur, you are also an innovator. Why? Simply, because you must innovate if you want to succeed. You solve problems on a better or much more innovative way for your customers. You create a company that means something for you, your employees and your customers from nothing. Simply, you need to be an innovative entrepreneur.

Who are innovative persons? I think that every person has enough creativity, dreams, and desires that can lead him to become an innovative entrepreneur. An innovative person is a person who doesn’t only innovate but also builds systems to support the innovation in his company.

Walter adds – “Turning invention into innovation relies on how an entrepreneur positions themselves, gets funding and manages their venture to become successful. Innovation is about the process and organisation needed to generate ideas in any context.”

Entrepreneurship has more to do with attitude, perseverance and focus. An entrepreneur can be a good innovator but an innovation manager is not necessarily a good entrepreneur. The ability to innovate in this sense isn’t just a vital component of a thriving business, but can be seen as an essential aspect of entrepreneurship itself.

Walter observes that today’s advancing tech, such as big data, IoT and machine learning, is now empowering whole networks of entrepreneurs to develop interconnected idea.

The distinguishing feature of new technology is that it enables open innovation in innovation ecosystems. Philips IoT-enabled light bulbs are now part of a platform that, next to giving light, provides opportunities for others to create software that controls it.

And what about the influence of digital channels? It’s difficult to think of a business idea without any digital presence nowadays.

However, a digital strategy should always be based on solving a real job for the customer, not just used for its own sake. You can build a perfect entrepreneurial business without a clue about digital though. Then again, a lot of digital ideas come to market through strong entrepreneurs, and not because they’re digital.

Entrepreneurship is new entry which can be accomplished mostly through launching a new venture. But not every new small business is entrepreneurial or represents entrepreneur.

Firms are more likely to succeed within healthy innovation ecosystems. These ecosystems are made up of human capital, research and development institutions, financial capital, the industrial base, the legal and regulatory environment, business and innovation culture and the quality of networks. Comprehensive innovation policy considers all these different elements and the interaction among them.

 

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US tensions with Iran

The Yankees woke up Friday morning to the news President Trump nearly took them to war by calling off a military strike on Iran just 10 minutes before it was supposed to be carried out. The strike was in retaliation for Tehran shooting down a US drone.

President Trump is having a trade war with China, which is dragging on economic growth not just in the US and China, but globally even Apple which is currently the largest corporate taxpayer in the US is pleading with President Trump for China trade war truce that its tax contributions would be badly damaged by tariffs on its China-produced goods and President Trump wants to go to war with Iran. Is that the way to make America great again?

President Trump has no political or military experience, that’s why he is turning the world upside down. Arabian Peninsula is the world’s largest peninsula and Oil is a particularly strong export of the region in which OPEC countries hold nearly 82% of the world’s crude oil reserves of which 65% from that region. Hope you can comprehend what will happen if Trump goes to war with Iran. The good news is that US airlines have now been banned by the FAA from flying over the area where the drone was shot down.

To save the world from Trump’s war, the Yankees have to reject Trump at the poll in 2020.

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Presidency: Indeed, Almajiri Poses Security Challenge. It’ll Ultimately Be Abrogated, But Not Immediately

The President Muhammadu Buhari administration Friday concurred with the general view that “the Almajiri phenomenon represents a security challenge and a scar on the face of Northern Nigeria.”

The Federal Government, however, added that contrary to the widely reported news, the ultimate proscription of the Almajiri system of education remains a priority but not for an immediate implementation.

“The abrogation of the Almajiri (Qur’anic learning system associated with begging on economic and religious grounds peculiar to some northern states) system of education remains an objective but there is no immediate ban of it,” the Federal Government clarified in a statement by a presidential media aide, Garba Shehu.

The Presidency called for “caution in responses to the pronouncements by President Buhari on free and compulsory basic education for every child of primary and junior secondary school age in Nigeria, during his speech on June 20, at the inauguration of the National Economic Council (NEC).”

The Presidency noted that “while the Buhari administration is committed to free and compulsory education as a long-term objective of bringing to an end, the phenomenon of out-of-school children, any necessary ban on Almajiri would follow due process and consultation with relevant authorities.”

According to the statement, “Indeed, the Federal Government wants a situation where every child of primary school age is in school rather than begging on the streets during school hours.

“At the same time, we don’t want to create panic or a backlash.

“Reports that there are plans for massive arrest of parents are definitely out of place. Things have to be done the right and considerate way.

“Free and compulsory primary school education is a requirement of the Nigerian constitution and any individual or group not in compliance with this is violating the law of the land and liable to be punished.”

Shehu added: “But in addition to relevant consultations, state governors need to put in place structures like schools and educational materials for pupils; otherwise, they also, are complicit in violating the law of the land.”

In his speech at the inauguration of NEC, Buhari stated, without equivocation, that the country’s children have rights and must be given their due rights and protection under the law.

The President said: “On education, I want to stress in particular the need to take very seriously and enforce very rigorously the statutory provisions on free and compulsory basic education. Section 18(3) of the 1999 Constitution as amended places on all of us here an obligation to eradicate illiteracy and provide free and compulsory education.

“Section 2 of the Compulsory, Free Universal Basic Education Act provides that every Government in Nigeria shall provide free, compulsory and universal basic education for every child of primary and junior secondary school age.

‘‘It is indeed a crime for any parent to keep his child out of school for this period. In my view, when a government fails to provide the schools, teachers and teaching materials necessary for basic education, it is actually aiding and abetting that crime.

“This is, therefore, a call to action. I would like to see every Governor rise from this meeting and rally his local Government Chairmen towards ensuring that our schools offer the right opportunities and provide the needed materials and teachers for basic education, at the minimum.

‘‘If we are able to do this, the benefits will surely manifest themselves.”

Shehu said the statement by the remarks by the President Buhari was well within the law of Nigeria.

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Koosha Azim: Creator Mindset Video

I always preach that it is important for people to be positive about themselves and be optimistic when in adversity. In the following LinkedIn video, Koosha Azim explains the idea of a Victim and Creator Mindset.

Having a Creator mindset helps in both business settings and with the rest of daily lives. Contrastingly, a Victim mindset could potentially hurt relationships and hurt mental health.

To learn more about Koosha Azim, check out his blog on his personal website.

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