Jack Dorsey, a serial entrepreneur known for founding not one, but two immensely successful startups (Twitter and Square,) has led quite an exemplary life. From living life king size to working on his dreams with a one track focus, Dorsey does everything in his power to make sure he puts out only his best foot forward. Always sporting immaculately cut hair, Jack Dorsey’s life has inspiration written all over. Here are some truly riveting life lessons from the man who followed his dreams and made both of them come true.
1. An idea is all it takes
Dorsey believes the biggest mistake an entrepreneur can make is to look at achieving their goals without a clear idea. More often than not, businesses succeed only when they are worked on with a clear idea in mind. “It doesn’t start by you waking up and saying ‘I want to start a business,’ it starts by you waking up and saying ‘I’m really passionate about this thing and I’m going to do whatever it takes to make it work,’” Dorsey said. While passion and dreams are all well and good, the route to success is only achieved when you have a strong and solid idea in place.
2. Routines are important
While people think living the startup life is all about haphazard lifestyles and irregular patterns, Dorsey thinks otherwise. According to him, only when you have a clear routine for your everyday life, can you really work toward being successful. Without structure and discipline, everything falls into chaos and chaos has never been man’s best friend. “All my days are themed. Monday is management. At Square we have a directional meeting, at Twitter we have our opcomm [operating committee] meeting. Tuesday is product, engineering, and design. Wednesday is marketing, growth, and communications. Thursday is partnership and developers. Friday is company and culture. It works in 24-hour blocks. On days beginning with T, I start at Twitter in the morning, then go to Square in the afternoon. Sundays are for strategy, and I do a lot of job interviews. Saturday is a day off,” Dorsey said while talking about schedules and routines.
3. Simplicity is the way of life
Jack Dorsey believes in the simple joys and ways of life. Extravagant things tend to fail because there isn’t anything else to back up what you have achieved so far. Furthermore, the more you do, the more people expect and that is never a good thing. Dorsey not only lives this way, but has also instilled this rule into the way he functions at work. Take Twitter, for example. People say so many things with such limited characters, giving readers and followers something truly meaningful to look read. If there was too much text, one would simply ignore the message or even miss it, right?
4. Operate through the right communication
When you are at work and two different departments are not talking to each other, it is important to make them sit down and have open communication. Communication is the key to a successful business. When your clients see you not talking to each other openly and on a regular basis, they will instantly realise something is amiss and as a boss, that is not a message you want known to the world. Dorsey believes in open communications, no matter how serious the issue or how dire the problem. Talk it out and clear the air, thereby making room for a clear road. “We make sure we design and engineer the company and the organization as much as we do the product and the service we have built,” Dorsey said while talking about communication.
5. It is okay to break the rules
Jack Dorsey’s father ran a pizza business and within the first week, he hired a woman who he fell in love with instantly. Ten months later, Dorsey was born. The lesson here is that even if you have set rules for the way your organization should run, it really is okay to break them. Everything happens for a reason and when you realise this, you know life is a big jug of lemonade you absolutely love!
Jack Dorsey’s life is one everyone wants to lead and when you see a man like him succeeding because of the lessons he lives by, you know your life is going to be a success as well! If you have learnt other things from Jack Dorsey’s inspiring life, comment and let us know!
How To Set Your Financial Goals For 2019
The year 2019 is upon us and is moving forward like a house on fire. With so many things happening and the world constantly moving forward, there are a lot of things to look at, especially when it comes to your financial services. As a startup, here’s how you can set your financial goals for 2019:
1. Review your goals
A lot can happen over the span of a year. Priorities can change, mindsets can change and your ideas about where you think your startup should be can change. You may have overshot your budget last year and you may not have properly planned for the year ahead. Take a look at all the things which happened in the past year and review the goals you set for yourself. It is vital to note that in order to stay fully prepared for 2019, you should have financial plans which are in sync with what your goals are going to be!
2. Take stock of the previous investments
When you are working on what to expect from the financial year from 2019, it is important to look at the kind of investments you made in the past. Make a note of the funding you received in the past and where you used the money. If you know you have enough funds to make do for the essentials, don’t go overboard with the frills. Cut back wherever necessary and with the the goal of securing your future investments, make a clear choice about what you want and need for your startup. This not only helps in figuring out your plans, it also helps in giving you a clear direction regarding where you need to go.
3. Manage your debts the right way
One of the best ways to get over your financial crunches is by learning how to manage your debts. It is daunting to look at your debts and see how much you owe people. Take stock of what your outstandings are and then start crossing each debt off one step at a time. The more money you owe, the scarier it is to look at how to grow and as you climb up the ladder, this is never a good idea.
4. Prioritize and get rid of the unnecessary
One of the primary ways to keep a track of your financial status is by looking at what is priority and what isn’t. If you’re paying for three coffee machines when you can actually make do with just one, get rid of the extra. If you need only 5 people in a particular team and have at least ten, then take a look at if you can work better with fewer people on your team. While it may be hard to make these cut throat and to the point decisions, the long term goals are satisfying and worth it at the end of the day.
5. Stick to your plans
Despite working on your goals, it isn’t easy to stick to your goals all the time. No matter what, hold yourself accountable for when things don’t go according to your plan. Stay true to what you want and what you need, so at the end of the day, you know you have done all that you could. Sticking to your plans is important, especially when it comes to achieving success later in life. When it comes to your startup, sticking to your plan needs to be taken care of without the shadow of doubt.
6. Have goals for the expansion of your business
The start of every financial year looks at how to secure cash for the growth of your startup. While some look at growth on a small scale level, others want to expand with leaps and bounds. Take into account which category you fall under and when you decide that, the financial aspects also fall into place. It is imperative to have goals and decide the kind of sacrifices which need to be made when it comes to turning your dreams to reality. Though the sacrifices may seem a bit much now, the end result is always going to be worth it!
When it comes to financial stability, you need to make sure you have all your eggs in order. What are some of the ways you stay financially stable? Comment and let us know!
Life Lessons From Barbara Corcoran
Barbara Corcoran, a part of the investors’ panel on the show Shark Tank (amongst other things,) has lived an interesting life. By the time she turned 23, Barbara had held over 20 odd jobs and was still struggling to make ends meet. However, everything started to change in 1973, when she founded her real estate company which instantly turned into a massive success! By 2001, she sold the company for a whopping $ 66 million to NRT Incorporated and since then, there is no stopping her. Here are some really inspiring life lessons to learn from Barbara Corcoran:
1. Accept fear
Every failure and every fear has an upside if you are in the game for the long run. The first ever talk show Barbara was a part of, she got so nervous, she lost her voice! For many people, this would be a dealbreaker when it came to being a media personality. However, Barbara realised this was just going to stop her growth and not help her push past her fears. By pushing through, she made sure she didn’t let the fear of public speaking overrule her decisions and after just a few years, she gave over 40 speeches in a span of 2 months. In fact, she also gave one of the most inspiring TEDx speeches!
2. Always stay positive
In most situations, optimism is the key to success. According to Barbara, it is important to be optimistic in the midst of all adversity. One of the key principles Barbara follows in life is to meditate and stay centered, a rule which helped her get through a lot of tough times as well! The glass is always half full, whether or not you realise that fact.
3. Take a leap of faith
You always have to take a leap of faith when you think things aren’t going your way. Barbara believes, people work the best when they’re under pressure. If you want to find out the best thing about yourself, then work on what makes things tick for you. Don’t stand around waiting for the right time because if you hold on for too long, then you might just lose out the best thing which could happen to your life!
4. It’s all about perception
“The big mouth shall inherit the earth,” says Barbara. What does she mean by that? Simply that if you want your business to succeed, make it look bigger and better than what it really is. According to Barbara, when it comes to succeeding, self promotion is important to climb the mountain. Act like you have the authority to say the right things and when you send press releases of any kind, make sure what you say is truly original.
5. Build firewalls between personal and private life
One of the major reasons people don’t succeed in staying at the top of their game is because they don’t know how to distinguish their home and personal lives. One of the reasons Barbara is so successful in life is because she compartmentalises every aspect of her life. Barbara believes, the one way to make it big in the real world is through following the rule of progress, not perfection!
6. Fake it till you are it
Just like perception is everything, giving people a different view about you till you make it to the top is also an extremely important part of the growing up process. The more you go through the journey of growth, the more you realise that you are faking that which you really want and crave. According to Barbara, one of the reasons people fake perfection is because they are insecure and no matter where you are in life, insecurity never goes away. Another benefit of faking it till you make it is that you grow to become a better person by accepting the insecurities in life.
Barbara Corcoran would not be where she is if she hadn’t accepted all the negative aspects of life. If you think you have learnt other things from her, comment and let us know!
Top 5 Movies Every Entrepreneur Must Watch
As an entrepreneur, for any company to scale, staying motivated, no matter how many times you face failure, is a key trait. Only when the founder is spirited to take on the tasks and achieve the goals, his/her employees are motivated as well. A great film can turn a visit to the cinema into more than an excuse to procrastinate. For your daily dose of inspiration and to get over your obstacles here are 5 motivational movies. These top five films will challenge your limits, push your understanding, spark your imagination and evoke strong emotions.
1. Shawshank Redemption (1994)
This is widely considered to be one is the greatest films made in the history of cinema. It’s a story about hope and freedom.
Here’s the story: Andy Dufresne, the protagonist (played by Tim Robbins,) is a banker who manages to make the very best out of a bad situation as he gets imprisoned for a false murder. Through determination, he manages to achieve far more than he thought possible. Andy uses his financial skills to help the warden and the prison guards to keep accounts. Through this, he comes to know about the illegal gains they’ve made using prisoners as manual labour. This is later exposed by Andy. This film teaches us the importance of developing long term goals while continuing to achieve short term goals.
— Startup Stories (@stories_startup) January 9, 2019
2. The Pursuit of Happyness (2006)
It’s an honest, meaningful film which makes the viewer fully invested in the struggles of Chris Gardner. He overcomes unbelievable circumstances to achieve his dreams. This movie teaches us that even having a little bit of hope can lead you to an opportunity. The real life father and son dynamic between Will Smith and Jaden Smith enriched the film. WARNING: Bring a box of tissues to the movie.
Here’s the story: The Pursuit of Happyness is based on a true story based on the life of an entrepreneur Chris Gardner. He goes through a year long’s struggle of being homeless with his son while going through a 6 month unpaid internship as a stockbroker.
“Don’t ever let someone tell you that you can’t do something. Not even me. You got a dream, you gotta protect it. When people can’t do somethin’ themselves, they’re gonna tell you that you can’t do it. If you want somethin’,. Go go get it. Period.” – The Pursuit of Happyness
— Startup Stories (@stories_startup) January 9, 2019
3. Forrest Gump (1994)
One of the most critically acclaimed movies and one of Tom Hank’s best movies.
Here’s the story: Forrest Gump is a simple man with a low I.Q., but with good intentions. He accidentally becomes a phenomenal success by living life the way he feels is right.
He wins medals, becomes a professional ping pong player, takes up running, starts a shrimping company and inspires people across the country. The story revolves around Forrest Gump and he proves that you don’t have to be a genius to achieve something. All you need to do is try.
“My momma always said, life was like a box of chocolates. You never know what you’re gonna get.” – Forrest Gump
— Startup Stories (@stories_startup) January 9, 2019
4. The Wolf of Wall Street (2013)
Jordan Belfort is the perfect example of what an entrepreneur shouldn’t be. He is driven by greed and has no empathy toward his people. He lives life indulging in extreme debauchery, which eventually leads to his downfall.
Here’s the story: It is a true story of Jordan Belfort who is an entrepreneur. The movie shows the rise and fall of his firm which was engaged in a securities scam which draws the attention of the FBI.
“The only thing standing between you and your goal is the bullshit story you keep telling yourself as to keep telling yourself as to why you can’t achieve it.” – The Wolf Of Wall Street
— Startup Stories (@stories_startup) January 9, 2019
5. Nightcrawler (2014)
This movie will teach you that anyone can achieve anything, with persuasion and drive.
Here’s the story: It stars Jake Gyllenhaal as Louis Bloom who is a guy looking for a job, but can’t find one. He then finds an opportunity while witnessing a crime, after which, he decides to become a crime journalist.
We hope your weekend binge plans are sorted with our list of highly motivational movies! If you know of any gems that we may have left out, comment and let us know!
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