(Editor’s Note: The following article is a guest post by superstar entrepreneur and tech investor Jonathan Schultz.)
Think about this: some of the most exciting and innovative ideas have sparked from curiosity. So, why not be more curious at work? Why not ask more questions and dig deeper? The impulse to learn more and explore new possibilities can catapult your career into a higher level.
Curiosity allows leaders to gain more respect from their team and inspires team members to develop more trusting and collaborative relationships with their coworkers. Here are a few benefits being curious could have on your career.
#1. MORE POSITIVE CHANGES
In both creative and non-creative careers, encouraging teammates to be curious generates improvements in the workplace. Why is this? Simply because when we are faced with tough situations we often have to be more creative in implementing solutions. The answer isn’t so black and white, so we tap into our curiosity to see what other types of solutions will work. This results in positive changes in the workplace.
#2. REDUCES CONFLICT AMONGST TEAMS
Research from the Harvard Business Review found that curiosity encourages members of a team to put themselves in each other’s shoes and take an interest in each other’s ideas rather than only look at things through their perspective. This helps teams work together more smoothly and effectively. Conflicts are handled with less confrontation and more logic, helping teams achieve better overall results and reaching better solutions.
#3. BETTER COMMUNICATION
When you are willing to put yourself out there and offer ideas that have stemmed from your curiosity, you communicate better because you are being transparent. By being more open and less fearful of sharing your thoughts, you can grow. Think of how many ideas may not have come to fruition if the person had been too afraid to tell others what ideas they had? You don’t need to have a million-dollar idea every time, but you do need to let your curiosity propel you to share your thoughts with your team at work.
#4. FEWER ERRORS REGARDING DECISION-MAKING
According to research by the Harvard Business Review, when curiosity is triggered, we are less likely to fall victim to confirmation bias, which is essentially looking for data and information that backs up our beliefs rather than looking at the whole picture which includes evidence that we are wrong. Curiosity leads to alternative answers that may not be immediately available. If you look at all aspects of a situation and explore other options, you are likely to make fewer errors when making important decisions.
Your career will never grow if you continue to do what you are told and never ask questions. A company is only as good as it is challenged. Be curious, ask questions, challenge solutions. You never know what kinds of things you could accomplish just by testing the boundaries. Leaders never became leaders by staying in their comfort zones. If you continue to do the same thing, you will receive the same results. Step outside of the box and let your curiosity take over sometimes. Curiosity may have killed the cat, but it will give your career new life if you let it.
Jonathan Schultz is an entrepreneur, real estate tech investor and influencer. He’s the co-founder of Onyx Equities, a leading private equity real estate firm, and has been voted one of the most powerful people in real estate. Follow Jon’s blog here.
If there’s anything the pandemic taught us, it’s that the paradigm of “office” and “workspace” has been shaken to its CORE.
Universities are teaching via Zoom, court dates are done virtually, FULLY REMOTE businesses are valued at $1B+, and legitimate Inc. 5000 startups are run from…wherever. 📲
This is my office for the day…
I am actually running our business from the beach, typing this from here.
It’s 4:28 pm CET, which means it’s 10:28 am EST and I am CRUSHING my to-do list.
(And the team will continue to crush it while I’m asleep. That’s the 🗝)
Having team members in all the main time zones gives us a 24-hour work cycle vs. 9-5/eight-hour on-the-clock performance.
This means we get 3x the productivity of a similar company. 🔥
Let me repeat that…3x PRODUCTIVITY vs. our competitors.
Meanwhile our project management software grants us 24-hour TEAM-WIDE connectivity that tracks all tasks and lets us know if productivity dips even a little bit.
There is ALWAYS someone senior awake. It could be Martin in Barcelona…Nat in New York…Vineet & Arif in New Delhi.
Well, the first step is to have an actual side hustle you’re launching. Not just an idea, a validated business.
MAJOR KEY: Do NOT spend money until you’ve made your FIRST DOLLAR! 🗝🗝🗝🗝
(You can catch a replay Business Launch masterclass here and see TRIBE member Nessa launched her business on the spot and got her first $45K client shortly after.)
One of the easiest ways to start is with Airbnb—you can start that in 10 minutes. Literally. (Here’s a guide if you need it.)
Once you have your business, you build a virtual infrastructure (you really just need two softwares, which are FREE), manage the team accordingly and run the business from there.
I’m gonna put together a step-by-step video breakdown this weekend inside the new TRIBE U on the FIVE key things you need to do this for YOURSELF. 💵 💎
From what software to use, how to build a team, how to keep.
In the meantime, drop a comment if you’re ready to build some wealth and any questions if you want more…
Let’s get to work. 🙌
PS: If you can’t be bothered with video and just wanna get to work, we’re hosting a TRIBE U workshopthat will help you get this process started on the spot. It’s $479 $49. 🔥
Senator Sharif Street and Temple University are bringing community wealth-building to North Philadelphia with a big conference.
Co-hosted by fintech NYCE, the Senator’s office announced its inaugural WealthCon event July 23, 2022, at Temple University’s main campus.
Closing the racial wealth gap is a major challenge we face in creating a fair and inclusive society,” said Street, who represents the Third Senatorial District of Philadelphia, one of the poorest communities in America, “Investing in people is how we elevate communities with a history of divestment and educating folks on financial literacy is a critical step toward that goal.”
WealthCon is a community-first experience dedicated to providing direct access to wealth-building programs across Pennsylvania.“
We’re a big advocate of NYCE’s mission of wealth equality and are excited to help address some of the grave issues that have impacted the communities for decades,” Street said.
More than 1000 Pennsylvanians, including officials from state, local, and federal governments, will attend WealthCon, including leaders in housing, lending, education, and community development.
The conference will offer panels and keynote conversations, covering the latest opportunities in real estate investing, financial literacy (including stocks, NFTs, cryptocurrency), retirement planning, public safety, entrepreneurship, and more.
“Financial literacy is critical to long-term community building,” NYCE CEO Philip Michael said. “We’re excited to make that available to everyone.”
The evening will conclude with cocktails and networking at the invite-only VIP dinner honoring WealthCon’s Innovators of 2022.
Innovators are recognized for their commitment to closing the wealth gap in America, both within their communities and beyond. (To submit your candidate for this year’s Innovators Award, please email nat@nycegroup.co.)
Tickets are free for members of the community. All ages are welcome.
Goes without saying, if you’re a new landlord, there are some metrics you just have to know. And if this is the most important metric to master, this one may be the most important, period…
(Pause for dramatic effect…)
The NOI.
Whether it’s vetting, buying or managing real estate, NOI—short for Net Operating Income—is arguably the most crucial metric for real estate investors. NOI is simply your net profits from rental income, after your expenses are paid. Here’s why it matters and why it’s more important than you think.
Your bottom line
When you have a rental property, your end game is to make a profit. You get your rental income. Deduct your operating expenses like maintenance, repairs and so on. Now you have your net operating income, which is your bottom line.
NOI = all revenue from the property – all operating expenses
It’s a simple enough formula, but there are ways you can manage it.
Managing OPEX
In business, there are two ways to increase profits. 1) Increase revenue. 2) Decrease expenses.
Simple enough, right? With rental income, there’s only so much you can do to increase revenue. So managing your OPEX is abasic but extremely important metric to monitor — and very often the hack for value-add investors to unlock crazy profits.
Valuation
Here’s the real beauty of NOI. Unlike single-family properties, the value of income-producing real estate (using the cap rate formula) is derived directly from the net income you can squeeze from it. Not supply and demand. Not the market. Not the S&P. Not bubbles. None of that.
To know more about real estate hack, money tips, and building generational wealth, subscribe to wealth lab and learn how to bust through the barriers preventing you from becoming a millionaire.
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