Connect with us

Entrepreneur

How to Supercharge Your Ability to Learn Any New Subject

Transform your learning with a new approach to how you read, what you read and why you read.

Published

on

Transform your learning with a new approach to how you read, what you read and why you read.

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!

February 18, 2021 6 min read

Opinions expressed by Entrepreneur contributors are their own.

For many, the exercise of organized learning ends when we graduate.

We are then thrown into our professional lives where we spend most of our waking hours working on projects in service of the business we’re helping to build. On those occasions that we do watch a movie or pick up a book, we do so based upon the recommendation of a friend or colleague, generally with the intent to either entertain or improve ourselves in some small way.

When we reflect back on what we’ve read, watched and listened to over the prior year it is usually a patchwork of disparate topics with no unifying theme or thread. It should come as no surprise that long-term learning is often little to none. In fact, think back on the books you read over the last year. Can you name them all? If so, you’re in the minority. Can you summarize them? That would make you rarer still. If you can actually remember discrete facts from them, you’re extraordinarily unusual (and very lucky).

Almost everyone would prefer to be able to remember what they read better and understand it more deeply. Fortunately, this is possible and it leverages a concept many might be already familiar with: immersion learning. Popular for learning languages, it is an educational approach to teaches by placing a student directly into the environment. Significant amounts of research support its efficacy. But its utility extends far beyond just the learning of languages. In fact, with some adjustments, you can create something that approximates an immersion learning opportunity for yourself on any subject you want to learn. It requires a willingness to go deep rather than wide and a commitment to a far more methodical approach than most are accustomed to. But it’s not hard and anyone can do it.

And who knows? Putting the effort into continuing education, far past your college years, might have the unintended benefit of fattening your wallet in ways you never saw coming. A new survey conducted by Invoice2Go, found that 60% of people have been inspired by their time in quarantine to contemplate completely new career trajectories.

Here’s how to re-learn learning…

Related: How This Online School Is Turning Small-Business Owners Into Public Relations Pros

1. Determine your target subjects

I focus on the breadth of topics with the only unifying theme being that I am deeply curious about them. Some of my syllabi over the last several years have included ancient Greece, cryptocurrency, modern Russian history, private equity and the rise of the major modern tech platforms. They can be closely tied to your business or not at all, they simply must be subjects about which you wish to learn deeply. Teaching yourself something that you’re not interested in is like trying to fill a leaky bucket, no matter how much information you pour in it’s never really going to stick.

2. Finding the best books

Do your research. Find the twelve or so books that you believe will most effectively build your knowledge on the subject you wish to learn. When you have settled on these books, look at how long each of them takes to listen to as an audiobook (Amazon helpfully lists this for you) and add up all the hours. Most audiobooks are about 10 hours to listen to (and generally you read faster than you listen), so your overall commitment will be about 120 hours.

Related: 41 Entrepreneurs Who Are Writing Books This Year, and When You Can Read Them

3. Plan your year

I commit to reading one book a week. That means I can do one subject every three months, or four subjects a year. Figure out what your cadence will be and build a schedule based on that. Once you understand the total number of hours your “course” will entail you will know exactly how much time you must allocate a day to reading or listening to the books. This discipline is key here — you need to carve out that time every day and account for it in your schedule.

4. Finding the best audio/visual guides

Even though there is no substitute for books it is worth rounding out your learning process by having your other senses play a part. Almost every subject has a myriad of other forms of art and entertainment that have covered it. If you’re doing a course on ancient Rome, go ahead and watch Spartacus and Gladiator. Even though these are fictionalized versions that can play fast and loose with history the point here is immersion and they can help you provide visual context to what you’re reading every day.

5. Take notes on everything you read

If you really want to retain the information from each book it is imperative that you highlight and take notes as you read them. Even if you never revisit those notes again (and for some, you likely will not), the mere exercise of note-taking will help synthesize the information you digested in your head and more deeply implant it into your memory bank.

Related: 5 Reasons To Invest In Self-Improvement And Skill Development For Entrepreneurial Success

Pulling it all together

Ultimately this is a commitment and requires real work. You are essentially designing your own continuing education program. Done well, the amount of learning that takes place can be as deep and impactful as any course from your schooling.

More importantly, it provides a means to scratch that itch to learn about the subject that has always intrigued you but you’ve never really understood or had the time to enroll in a formal class. None of my businesses deal in blockchain or cryptography but I used this methodology to become conversant in some of the basics so I am prepared if and when that technology does enter my professional realm. Similarly, I used it to improve my leadership skills, something that directly impacted my day-to-day management.

Learning does not need to be confined to your career and in fact, you do yourself a great disserve if you allow it to. Study a diverse range of subjects and embrace your inner polymath by using these simple steps and unlock deep learning for your entire life across any subject you so desire.

——-

Almost everyone would prefer to be able to remember what they read better and understand it more deeply. Fortunately, this is possible and it leverages a concept many might be already familiar with: immersion learning. Popular for learning languages, it is an educational approach to teaches by placing a student directly into the environment. Significant amounts of research support its efficacy. But its utility extends far beyond just the learning of languages. In fact, with some adjustments, you can create something that approximates an immersion learning opportunity for yourself on any subject you want to learn. It requires a willingness to go deep rather than wide and a commitment to a far more methodical approach than most are accustomed to. But it’s not hard and anyone can do it.

Source: http://feedproxy.google.com/~r/entrepreneur/latest/~3/9dnlFR8fAvM/363396

how-to-supercharge-your-ability-to-learn-any-new-subject

Entrepreneur

Have You Stashed Too Much Money in Your Emergency Fund?

Think you’re totally set with a full year of expenses set aside in an emergency fund? Hold up. You might have too much socked into liquid assets. Read on to learn more about how much is too much for your emergency fund.

Published

on

Think you’re totally set with a full year of expenses set aside in an emergency fund? Hold up. You might have too much socked into liquid assets. Read on to learn more about how much is too much for your emergency fund.

Free Book Preview Money-Smart Solopreneur

This book gives you the essential guide for easy-to-follow tips and strategies to create more financial success.

June 10, 2021 6 min read

This story originally appeared on MarketBeat

Last year heralded the case for a robust emergency fund. As people lost jobs left and right due to the COVID-19 pandemic, you probably checked and double-checked your emergency fund (I know I did).

However, have you ever thought about how so much of a good thing can be just that — too much? Your emergency fund could end up way too plump.

Where People Usually Put Their Emergency Funds

Where do most people stash money in order for it to remain truly accessible? Most people put their funds in one of the following categories:

  • High-yield savings accounts: You usually find high-yield savings accounts at online banks, not at brick-and-mortar banking institutions. (They don’t have much overhead due to their status as online banks, so they can offer higher returns.) High-yield savings accounts usually earn around 0.50% annual percentage yield (APY).
  • Money market accounts: A money market account, also called a money market deposit account, offers a deposit account that pays you interest based on current interest rates in the money markets. You can find money market accounts at local banks. Money market accounts often come with a debit card and check-writing capabilities.
  • Checking or savings accounts: You won’t earn much interest with checking or savings accounts at a brick-and-mortar bank. Earnings for both of these types of accounts can range from 0.03% to 0.04%. However, you can access your money at any time, which means that these accounts offer major liquidity.

Any of these options make sense because you can easily get your money out when you need it. However, if you put too much money into any one of these, you could risk a lack of growth and put yourself at a disadvantage, tax-wise.

Before you choose the right vehicle for you, check rates, fees and withdrawal rules.

Too Much of a Good Thing Can Be Too Much

Emergency savings offers so many great things — to a point. Let’s take a look at the downsides to putting an overly large amount in your emergency fund.

Downside 1: Your money may not grow.

Where do people usually park an emergency fund?

Somewhere liquid and highly accessible, like a money market account or a high-yield savings account, right? You want to have access to that money the second your boss says, “Sorry, but I have some bad news…”

Here’s the deal. Let’s say you save $1,000 at 0.01% APY. After a year, you’ll end up with just $1,000.10. If you put the same $1,000 in a retirement account that earns 6%, you would earn $1,062 after a year. See how you could lose out?

Most accounts that offer a safe haven for your money often don’t offer ample returns.

The average stock market return hovers around 7%, three times higher than any high-yield savings account rate offered anywhere today.

Downside 2: You could lose out on the tax front.

When you focus on saving in your emergency fund too much, you may neglect your tax-advantaged retirement accounts, which could include 401(k) plans, IRAs, 457 plans or 403(b) accounts.

Let’s say you have the opportunity to contribute $6,000 into a traditional IRA. Your contributions get deducted from your taxable income. You would only pay taxes on the remaining balance.

Let’s say you make $60,000 per year. Your taxable income automatically gets reduced $6,000 to $54,000 from your traditional IRA tax deduction.

What happens when you save your money in a high-yield savings account instead of a tax-advantaged account? You miss out on that reduced taxed income.

Downside 3: You may not clear out your debt.

You may hear so much about the importance of emergency funds that you ignore the fact that you still need to pay off debt. That begs the question: What kind of debt do you have? Credit card debt? Student loan debt? You may want to pay down those debts first and then tackle your emergency fund. Or you can save $1,000 for emergencies to start out and then tackle any outstanding debt.

Downside 4: You may sacrifice other goals.

When you don’t contribute to your kids’ savings accounts, to your own retirement or maybe even save for a down payment on a house, stop and ask yourself why.

A gargantuan emergency savings might not mean much when you’re stuck putting a vacation on a credit card or forgoing a child’s college savings account altogether.

So… How Much Should Go in Your Emergency Fund?

Obviously, this answer depends on a few factors, including your current income amount. Many financial experts advise saving three to six months’ worth of living expenses.

For example, let’s say you generally spend about $4,000 per month on general expenditures, such as your mortgage payment, utilities, food, health care premiums and other items. You should save between $12,000 and $24,000.

However, you may want to adopt the 3/6/9 rule instead, depending on your job situation. In other words, you may want to:

  • Save three months of expenses if you have a steady paycheck, have no mortgage or dependents.
  • Save six months of expenses if you have a steady paycheck, have a mortgage or dependents.
  • Save nine months of expenses if you have irregular income or if you are the only one in your family who earns money.

How Much Equals Too Much in Your Emergency Fund?

As you can see, it’s easy to have too much in your emergency fund. If you find that you’ve stashed more than six months’ worth of emergency money in your account and have a steady paycheck, no mortgage or dependents, ease up.

Carefully consider whether you have too much in your account based on the stability of your income and the number of people depending on you. You may also consider the level of support you receive from others. (Your parents might love it if your family moved in if it came down to it!)

When you do decide on the right amount, automate transfers so they occur each and every week or month. That way, you don’t have to think about saving — it just happens.

Featured Article: What is an overbought condition?

Source: http://feedproxy.google.com/~r/entrepreneur/latest/~3/YHuKBmQ-q-o/374198

have-you-stashed-too-much-money-in-your-emergency-fund?

Continue Reading

Entrepreneur

How to give good feedback to your collaborators?

The feedback process must be close and continuous.

Published

on

The feedback process must be close and continuous.

Free Book Preview: Unstoppable

Get a glimpse of how to overcome the mental and physical fatigue that is standing between you and your full potential.

June 8, 2021 1 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

This story originally appeared on Querido Dinero

Feedback is the analysis of a person from different perspectives to show what they do very well and accelerate their professional career, but also what they need to improve because it slows their growth.

The difference with the evaluation of results is that the feedback process must be close and continuous, and when implemented correctly it generates relationships of trust .

We tell you how to make it a natural practice in your company:

The difference with the evaluation of results is that the feedback process must be close and continuous, and when implemented correctly it generates relationships of trust .

Source: http://feedproxy.google.com/~r/entrepreneur/latest/~3/ZMAaeXpe1Pg/373943

how-to-give-good-feedback-to-your-collaborators?

Continue Reading

Entrepreneur

If You’re Using These Marketing Tactics, You’re Hurting Your Brand’s Credibility

You’ll need good marketing to increase sales in your business, so have a solid strategy.

Published

on

You’ll need good marketing to increase sales in your business, so have a solid strategy.

Free Book Preview: Brand Renegades

Discover how two entrepreneurs used unconventional business strategies to turn their startup into a multimillion-dollar company.

June 5, 2021 4 min read

Opinions expressed by Entrepreneur contributors are their own.

Entrepreneurs are always hungry for new clients and growth strategies that work. The online gurus know this, so they use emotional-trigger-based marketing tactics to convince business leaders to buy their courses or services. These questionable marketing tactics tend to lead to refund requests, chargebacks and consumers that won’t do business with them again.

Even if you provide something of value, how you market it will affect your sales depending on your approach. As you build out your marketing strategy, avoid these three commonly used marketing tactics because they tie you to a culture of bro-marketing and online gurus. Consider a different approach before these tactics detail your business growth.

Related: 4 Annoying Online Marketing Tactics to Stop Right Now

1. Displaying revenue screenshots.

These days, it’s common for entrepreneurs to display Stripe or PayPal revenue screenshots on social media, or even on their websites. There’s no doubt that consumers are drawn to seeing sales and big numbers. But it’s a toxic marketing strategy — it may generate sales in the short term, but it repels high-end clients and more potential customers in the long term.

The consumers who buy based on what they see in revenue screenshots tend to be in a challenging financial position and need to generate income quickly. They aren’t in the place to focus on what it takes to do the work that increases revenue, and they end up disappointed when they buy as a result of flashy marketing.

Real wealth and growth don’t self-advertise. Have you ever seen business leaders such as Elon Musk, Jeff Bezos, or Oprah post revenue screenshots? The results that your customers experience are a better way to market your business. Publish solid content and you can nurture cold prospects. Separate yourself from guru marketing by relentlessly focusing on serving your customers.

Related: 6 Outdated Marketing Tactics You Need to Leave in the Past (Where They Belong)

2. Sharing client wins with no attribution.

Have you ever seen an entrepreneur posting about clients getting X results, but they never name or tag the clients? The clients they’re posting about may very well be experiencing wins, but in a guru marketing world, the consumer is skeptical.

Some clients would prefer to remain private and not share their information — that’s understandable. But, more than a few of your clients would welcome a shout-out. You have clients that are comfortable with you sharing their wins. The only way to know for sure is to ask.

The goal is to show what your business offers, and you can do this by sharing your clients’ results and testimonials. Get permission where possible — don’t just share wins that don’t appear real to cold consumers.

Related: 3 Marketing Tactics to Avoid Next Year

3. Marketing results from years ago.

Over your years of building a business, you’ll no doubt experience wins. You’ll get results that consumers and colleagues will want to know more about. In marketing, your goal is to prove that your philosophy does work — mainly through marketing the results you and your clients have experienced.

However, growth-focused entrepreneurs stay at the forefront of their industries. They don’t get a result and market those wins for years without working on getting more results. It’s acceptable to market the results you’ve obtained in the past, but ask yourself if you continue to do the work that helps you grow.

When cold prospects see that your marketing results are old, it will dissuade them from doing business with you. Consumers want to do business with industry leaders, and you become a leader by constantly honing the work you’re putting into your craft. One of the best ways to grow a business is by doing the work that optimizes your personal growth. Commit to becoming the best at what you do.

If you’re going to increase sales in your business, you’ll need good marketing. However, there’s a way to market your business more authentically. Avoid tactics that may work for a little while but will ultimately hurt your brand credibility.

Related: 7 Ways to Correct a Failing Marketing Strategy

Source: http://feedproxy.google.com/~r/entrepreneur/latest/~3/ve_gaxGJS18/370340

if-you're-using-these-marketing-tactics,-you're-hurting-your-brand's-credibility

Continue Reading

Title

Blockchain news13 hours ago

Long-Term Bitcoin Holders Keep Stacking While Short-Term Holders Keep Selling

On-chain analyst William Clemente III revealed that long-term holders keep on stacking as short-term holders keep on selling.

Coinpedia15 hours ago

Shiba Inu Price Plunge Hard! Should You Buy the Ongoing Dip?

Shiba Inu Price needs to climb back above $0.000007. If SHIB Price is able to break through this resistance, it...

Techcrunch18 hours ago

UBS investment makes Byju’s the most valuable startup in India – TechCrunch

Edtech giant Byju’s has become the most valuable startup in India after raising about $350 million in a new tranche...

CNBC21 hours ago

GameStop sales rise 25% as retailer chases e-commerce growth, says it may sell 5 million shares

GameStop sales rose 25% in the fiscal first quarter as the company focuses on e-commerce and tries to stage a...

Bioengineer23 hours ago

Trial of existing antibiotic for treating Staphylococcus aureus Bacteremia begins

NIH-supported trial will test Dalbavancin in hospitalized adultsCredit: NIAID A clinical trial to test the antibiotic dalbavancin for safety and

ZDNET1 day ago

Avaddon ransomware group closes shop, sends all 2,934 decryption keys to BleepingComputer

Bleeping Computer worked with Emisoft to create a free decryptor that any Avaddon victim can use.

Reuters2 days ago

Internal data from breach circulating online -CD Projekt

Internal company data leaked during a February security breach is now being circulated on the internet, Polish video games maker...

Blockchain news2 days ago

13.38% of Bitcoin’s Money Supply Has Now Moved Between $31K and $40K

On-chain analyst William Clemente III disclosed that 13.38% of Bitcoin’s circulating supply standing at 18.73 million BTC has moved between...

Coinpedia2 days ago

An Extreme Bullish Case Emerges For Ethereum Price, $6000 May Be On Cards!

The etheruem(ETH) price is attempting to follow a similar path and if it successfully mirrors previous rally, levels above $5000...

CNBC3 days ago

Homeowners got $2 trillion richer during the first three months of the year

Home prices have been soaring, so homeowners have been getting richer, at least on paper. The equity numbers are staggering.

Review

    Select language

    Trending