Tag: growth

Source: eMarketer Retail 

When it comes to the US e-commerce market, Amazon is leaving the competition in the dust. This year, the online shopping juggernaut will capture 49.1% of the market, according to eMarketer’s latest forecast on the top 10 US e-commerce retailers, up from a 43.5% share last year. Amazon now controls nearly 5% of the total US retail market (online and offline).

Amazon will generate $258.22 billion in US retail e-commerce sales this year, up 29.2% over last year. Amazon’s Marketplace sales will represent an increasingly dominant portion of its e-commerce business—68.0% this year, compared with 32.0% for Amazon direct sales. By the end of 2018, sales generated from Amazon’s Marketplace will be more than double that of Amazon’s direct sales in the US.

“The continued growth of Amazon’s Marketplace makes sense on a number of levels,” eMarketer principal analyst Andrew Lipsman said. “More buyers transacting more often on Amazon will naturally attract third-party sellers. But because third-party transactions are also more profitable, Amazon has every incentive to make the process as seamless as possible for those selling on the platform.”

Computer and consumer electronics is the leading product category for Amazon, with sales of $65.82 billion in the US this year, representing more than a quarter of its retail e-commerce business.

In 2017, apparel and accessories surpassed books and music to become the second largest category. Apparel sales will grow more than 38% this year to reach $39.88 billion in the US. This category will represent 15.4% of Amazon’s e-commerce business, and 38.5% of all online apparel sales in the US.

But Amazon’s private-label push is being met with apprehension by several brands and retailers.

“While they are dependent on Amazon as a selling channel, they also recognize the threat to their brands should Amazon decide to compete by introducing its own private labels,” Lipsman said.

Other fast-growing categories for Amazon are food and beverage* and health, personal care and beauty. Food and beverage will grow more than 40% this year, while health and beauty will jump nearly 38%. Still, both categories represent just a small portion of Amazon’s US retail ecommerce sales.

“Amazon’s strategy for food and beverage is no different, in some respects, than it was for books—dominate the category,” eMarketer senior analyst Patricia Orsini said. “However, e-commerce in the grocery sector is a challenge. Share of online sales in this category is low because most people, for a host of reasons, prefer to buy food in brick-and-mortar stores. Amazon has an advantage because its shopper base is comfortable with shopping online. Along with insights gathered about Whole Foods shoppers, Amazon probably has the best chance of converting in-store grocery buyers to online grocery buyers.”

Calls for Facebook to be split up increasing

By Diamon Naga Siu for Mashable

Facebook may have grown to a point where it’s too big for its own good. Or anybody’s, for that matter.

The largest U.S. media and communications labor union, Communications Workers of America, is adding fuel to that point of view. It’s just joined the Freedom from Facebook Coalition, which is petitioning the Federal Trade Commission to break up the growing “monopoly” power of Facebook.

Blazoned atop the coalition’s website reads: “Facebook has too much power over our lives and democracy. It’s time for us to take that power back.” The coalition, which includes social activist groups like Demand Progress and MoveOn Civic Action, wants the FTC to separate WhatsApp and Instagram as separate companies, away from Facebook’s control.

CWA Communications Director Beth Allen told Mashable that the group was concerned about the social media giant’s growing power. And the labor union is not the only one with such a concern.

Facebook is already under the microscope of a federal investigation from the FTC for its Cambridge Analytica data scandal, and there are dozens of privacy lawsuits against the social media giant right now. Before things get any better for Facebook, they’ll probably get worse, at least from a legal perspective.

The CWA also has a lawsuit against Facebook, alleging that the way the company targets job advertisements leads to age discrimination. Allen told Mashable that joining this coalition could offer the group a larger platform for the union’s legal battle against Facebook.

“We have been looking closely at Facebook, and the coalition that was forming was interesting to us because we wanted to be able to shed more light on this age-discrimination issue,” Allen said. “We just want to make sure regulators are doing what they can to limit Facebook’s power and ensure that Facebook is not engaging in any discriminatory behavior.”

We’ll see whether the FTC will actually splinter the monolith, but it’s far from the first time Facebook has been accused of being a monopoly. When questioned about the issue before Congress in April, CEO Mark Zuckerberg said Facebook “certainly doesn’t feel like [a monopoly] to me.”

The list of others who feel differently is growing, and it may eventually enlarge to the point where Zuckerberg can’t just casually dismiss them.

By Sarah Butler for The Guardian 

Sainsbury’s planned £7.3bn takeover of Asda comes as the London-based supermarket continues to be outgunned by its three major rivals, according to the latest sales figures.

Sainsbury’s sales rose by just 0.2% in the 12 weeks to 22 April, its slowest pace of growth for more than a year.

Asda’s sales rose by 1.4% in the period, but the Leeds-based chain and Sainsbury’s both lost market share, according to the latest data from Kantar Worldpanel, while Tesco and Morrisons held steady thanks to their turnaround plans.

“It is very competitive out there for Sainsbury’s,” said Fraser McKevitt, the head of retail and consumer insight at Kantar Worldpanel. “Having had a difficult couple of years, Morrisons is now doing the basics of retail very well and Tesco is not seeing hugely rapid growth but it is consistent. In the light of a zero-sum game for food retail that has put pressure on everybody else.”

Sales at Tesco rose by more than 2% for the first time since 2011, helping the UK’s biggest supermarket chain retain a 27.6% share of the market compared with 15.9% at Sainsbury’s and 15.5% at Asda.

Supermarket sales growth
Morrisons also achieved sales growth in excess of 2% in line with the overall market. Discounters Aldi and Lidl continued to take market share as they increased sales by 7.7% and 9.1% respectively, helped by new stores openings.

But analysts at Bernstein noted that the discounters’ growth had slowed to the weakest pace since 2010, excluding a brief period in late 2016. Analyst Bruno Monteyne suggested the chains were finding it harder to secure new property.

McKevitt said sales growth would now be harder to find for all supermarkets as grocery inflation is slowing. Prices rose by 2.1% in the 12-week period, the slowest pace since March last year, driven by increases in the cost of butter, bottled colas and bread, while the price of fresh poultry and laundry detergent fell.

The recession that never happened

The South African economy grew 3.1% during the fourth quarter compared with the previous quarter — putting growth for the year at 1.3%, beating Treasury’s and other forecasts.

Compared with a year earlier, gross domestic product (GDP) increased by 1.5% in the fourth quarter of 2017.
Treasury had expected growth of 1% for the year.

The largest positive contributor to fourth-quarter growth was the remarkable recovery in the agriculture, forestry and fisheries sector, which increased 37.5% and contributed 0.8 of a percentage point to GDP growth.

The trade, catering and accommodation industry grew 4.8% and contributed 0.6 of a percentage point.

The primary sector (which includes agriculture and mining) increased by 4.9%, the secondary sector (manufacturing, electricity and construction) grew by 3.1% and the tertiary sector (trade, transport, finance, government and personal services) grew by 2.7% compared with the third quarter.

This signals that the country’s economy is poised for a recovery.

It is a vast improvement on the dismal 0.3% GDP growth achieved in 2016 but still remains weak by the country’s historic standards.

In the third quarter, the economy grew by 2% quarter on quarter, demonstrating a resilience that suggested it was in better shape than most economists had previously thought.

Expenditure on real GDP increased by 3.1% in the fourth quarter of 2017, while final consumption expenditure by general government increased by 1.3%.

Treasury is forecasting growth to rise to 1.5% in 2018 on political and policy certainty, renewed confidence and rising private fixed investment.

Finance Minister Nhlanhla Nene said on Monday that it was likely that the growth forecasts would be revised upwards due to improved business and investor confidence.

Growth for 2016 was revised up to 0.6% from 0.3%.

Third-quarter GDP growth in 2017 was revised higher, from 2% to 2.3%.

The changes were based on better access to data sets, said Statistics SA deputy director-general Joe de Beer.

The revisions indicate that SA wasn’t actually plunged into a recession last year. A recession is based on two consecutive quarters of negative growth.

The performance in the fourth quarter of 2016 has been revised from a 0.3% contraction to growth of 0.4%.

By Sunita Menon for Business Day

Lenovo’s downward spiral might not be over

In four years, Lenovo Group went from would-be Apple Inc. challenger to an also-ran in smartphones and data-centre servers. Now it’s got a comeback plan, but some investors don’t buy it.

China’s erstwhile tech darling, which lost its perch atop the PC market to HP Inc. in 2017, has shed two-thirds of its value since hitting a 15-year high in 2015. At a two-year earnings multiple of about 10 times, its stock is cheapest among the world’s largest computer makers. Yet all seven analysts ranked best by Bloomberg based on one-year returns urge investors to sell. Their average target puts Lenovo 13 percent below Tuesday’s close.

From money-hemorrhaging businesses to resurgent competition for its cash-cow PC division and a revolving-door executive team, the company that once aspired to Apple and Samsung’s heights seems to have lost its way. Chief Executive Officer Yang Yuanqing’s failed repeatedly to deliver on turnaround deadlines and hasn’t fully articulated a strategy to revive ailing mobile and datacenter arms — even as local rivals gun for its bread-and-butter Chinese customer base. The company’s even resorted to selling office buildings to prop up the bottom line.

“I just don’t see signs of change,” said Qian Kai, an analyst with CICC who’s covered Lenovo for five years and the third-ranked analyst of 30 in Bloomberg’s Absolute Return Rankings. He lowered his target price to HK$2.60 in February. “Lenovo’s been caught in the middle of a very awkward situation where it can neither turn the tables on its home turf nor expand quickly enough in overseas markets.”

It’s a far cry from the days when Lenovo was at the top of its game. Yang took the stage at an 18,000-seat Beijing arena one frigid winter’s evening in 2014 to surprise euphoric employees with news Lenovo had agreed to take over International Business Machine Corp.’s commodity server business for more than $2 billion. That same year, it sealed a deal to buy Motorola Mobility from Google, becoming the world’s No. 3 smartphone label.

That was then. The Moto line has tumbled out of the top ranks, unable to expand its footprint in the U.S. and pummeled by fast-moving rivals in Asia from Oppo to Xiaomi Corp. Liu Chuanzhi, an industry trailblazer who transformed Lenovo into one of China’s most recognizable brands, fell on his sword during this year’s address.

“How many mistakes have we made? How many mistakes have I myself made?” Liu said in February. “Without question, today’s Lenovo Group faces severe and acute challenges. The challenge is multi-dimensional and uncertain. It’s an age when innovations in technology and business model are powerful enough to overturn an industry and even social customs.”

Lenovo’s now overhauling its sales channel. It’s re-enlisted Liu Jun — the architect of the Motorola deal — to reinvigorate China via new avenues such as e-commerce.

“Turning around the business is still our goal, but we probably need more quarters to deliver that result,” Yang said in an interview in February. “We are transitioning in emerging markets from Lenovo brand to Motorola brand, it hasn’t gone very well. We need to clear inventory and rebuild the brand.”

It also missed out on “its best shot” to grow its server business, Qian said. At the time the IBM deal was unveiled, Chinese customers were starting to eschew IBM, Oracle and EMC in favor of local names. Many ended up with Huawei or Inspur because Lenovo took eight months to close its acquisition.

Lately, the company’s shown signs of life. It’s expected to return to (meagre) revenue growth this fiscal year after two successive annual declines. But at least one fund manager warns against getting into a PC sector that remains sluggish at best.

“The industry is unlikely to see hyper-growth in the short run,” said Zhang Haidong, a fund manager with Jinkuang Investment Management who doesn’t own stock in Lenovo. Even “the smartphone business may not see its next inflection point until 2019.”

Alexander Medd, an analyst with Bucephalus Research who’s been one of Lenovo’s harshest critics, argues the company needs cool products. But it may be too late.

“Tech brands do not come back,” he said.

Source: Bloomberg / MyBroadband 

The technology industry is the crowning glory of America’s economy. It supports 7-million well-paid jobs at home, and allows America to set standards globally.

Silicon Valley generates almost $200-billion of profits from abroad each year, several times the benefit that America gets from having the world’s reserve currency. But after losing its lead in exports and manufacturing, is America’s tech supremacy now under threat from China?

For years Silicon Valley dismissed Chinese tech firms—first as an irrelevance, then as industrial spies and copycats. Most recently China has been seen as a tech Galapagos, where unique species thrive than would never spread abroad. But as our Schumpeter column explains this week, China’s technology industry has been catching up far faster than expected. American venture capitalists return from trips to China blown away by its energy. China’s government has set a goal of becoming dominant in artificial intelligence by 2030.

China still has huge weaknesses. Its tech firms are only worth about a third as much as America’s, and their investment budgets pale in comparison with those in the United States. They generate relatively little revenue abroad, and are puny in semiconductors and business-related software. Moreover, Chinese companies in other industries make less intense use of technology products than their American counterparts do. And although China does have two giant tech firms in Tencent and Alibaba, as well as lots of small ones, it has relatively few mid-sized companies in the range of $50-$400bn.

Nonetheless, China is now approaching parity on the most forward-looking measures. In e-commerce and mobile payments, its industry is now bigger than America’s. Its universe of “unicorns” (unlisted firms worth over $1bn) is almost as large, as is its venture-capital sector. Both are proxies for China’s ability to produce tomorrow’s giant firms. And in cutting-edge areas such as facial and speech recognition, China now has recognised leaders. There are even some signs that it is catching up in hard science: it has produced nearly as many papers on artificial intelligence cited by parties other than their author as America has.

At its present pace, China is still 10-15 years away from reaching tech parity with America. But for American tech firms, the time to get paranoid is now.

Source: The Economist

The dirty underbelly of the Naspers darling

MultiChoice and Naspers are in the crosshairs of public opprobrium for playing tough tackle in their negotiations to protect their market dominance.

“This company is aggressive and entrepreneurial. We often go with our gut,” says a MultiChoice executive to explain revelations of the company’s negotiating tactics, which have landed its parent company Naspers in a mighty pickle.

Naspers is facing three investigations: a litigious class action by a US law firm is exploring the allegations; a parliamentary inquiry on the scale of the Eskom probe is being planned for early 2018; and MultiChoice’s board is engaged in a probe to get to the bottom of the allegations.

MultiChoice and Naspers are in the crosshairs of public opprobrium for playing tough tackle in their negotiations to protect their market dominance, but the company says this is standard lobbying. Here’s a recap of what’s bugging the global Internet and media company:

An investigation by News24 into the #Guptaleaks emails revealed how a company regulatory affairs honcho wrote policy for government that landed up on the email servers of the Gupta family after being mailed through by former communications minister Faith Muthambi.

A set of minutes, which the DA calls secret, but which MultiChoice says never was, alleges that MultiChoice tied an agreement to pay the SABC for digital channels to support for a position that excluded encryption and protected the company’s position.

MultiChoice’s support and contracts with the National Association of Manufacturers in Electronics components in return for their lobbying against encryption.
Analysts say industry incumbents who write policy for government engage in regulatory capture — this is where private interests drive public policy. In mining, a similar trend is apparent. Special interests that are not immediately visible to the public motivate the writing of draft laws and practices such as aggressive inspections and work stoppages.

Standard lobbying

Executives at MultiChoice who spoke to HuffPost SA on condition of anonymity are taken aback at the allegations. The company would not formally respond as lobbying and regulatory affairs are part of the ongoing probe at the company. (See statement below.)

One said that companies often wrote draft policy positions for government as part of the lobbying process. Broadcasting is complex and the South African state’s governance thereof has been sclerotic: there have been five communications ministers in the eight years that President Jacob Zuma’s been in office.

“In lobbying, we are saying what we think the law should say.” As to how the email landed up on a Gupta company server, an executive said: “Faith Muthambi told us she didn’t like those people [the Guptas] at all.”

The executive says only 10% of its recommended policy proposals ended up in the final law, which clarified what the respective functions would be of Telecommunications and Postal Services Minister Siyabonga Cwele and the communications minister after Zuma split the department in two.

“[It’s true], though, that we lobbied everyone and their dog on encryption,” said an executive. This is a separate policy to the one that ended up in the hands of Gupta man Ashu Chawla.

ANC MP and former communications minister Yunus Carrim says Naspers chairperson Koos Bekker “…almost saw himself as an adviser to me [on encryption] as somebody new to the sector. And yet, because of his vested profit and other interests in the pay-tv sector, he obviously couldn’t play any such role.”

A DStv decoder for you, you and you

As a young MP, Carrim sat on parliament’s communications committee. One day, he remembers a furious Frene Ginwala, who was the National Assembly speaker, calling out MPs for taking MultiChoice’s gifts of decoders for MPs. She said it was absurd because “we have to make policy impacting broadcasters”.

Carrim would like to see an end to gifting by MultiChoice and other government-facing companies, which depend on public regulation or licence to operate.

In my experience, there seem to be various forms of ‘regulatory capture’ including perks to MP’s and the preparation of documents for other stakeholders to advance MultiChoice’s interests.
Yunus Carrim
He says the lobbying become more aggressive as certain members of the ANC study group were courted by MultiChoice to take positions against encryption, even though the ANC policy at the time was for conditional access to the set-top boxes that will enable converting old TVs for digital television.

“Of course, business should lobby government as vigorously as they want, but they can’t seek to buy government policy. Lobbying should be within reasonable limits and within a generally accepted framework of ethics,” says Carrim.

DA MP Phumzile van Damme says establishing a code of conduct for public policy lobbyists is essential and will be part of an investigation into state capture in the communications sector in the new year.

MultiChoice responds

We note that your questions deal with the parameters of an acceptable level lobbying. We think it is inappropriate to deal with that at this time, as the MultiChoice Board’s Audit and Risk committees are specifically and currently reviewing these matters. We don’t want to pre-empt or influence the outcome of that process. The audit and risk committees are chaired by an independent non-executive Director. Their report will be submitted to the MultiChoice Board on completion of the review. When this process is concluded, we will communicate the outcome.

We believe that no improper conduct took place in our meeting with the SABC. It was not a clandestine meeting. The meeting was held at the request of the SABC, on their premises and was recorded. Top management and board members of both parties were represented. No kickbacks were paid. It was a negotiation meeting and the final decision on our proposal lay with the SABC Board.

As you know, the Constitutional Court has found in favour of the Minister’s policy. Ultimately, the SABC considered its position and decided to enter into the agreement. Our position on encryption of set-top box for digital migration was well known and had been in the public domain.

We have a long-standing relationship with the SABC dating back to the early 1980s. The parties have bought and sold content from and to each other for many years and will continue to do so.

By Ferial Haffajee, Editor-at-large for HuffPost South Africa

Why would you start a business in a dying industry? Just ask Alexander Knieps.

In this electronic world, many say print is dead. But Alexander Knieps, the founder of online printing company, Printulu, echoing the words of famous author Mark Twain, says reports of this death are greatly exaggerated.

“If you look at how this industry is developing, I don’t think we are moving into a paperless industry, at least not in the next 50 years. Afterwards, I don’t know. It is all about what channel is out there and whether it is affordable,” says Knieps.

We meet Knieps at an industrial park in Modderfontein, east of Johannesburg. This is where business cards, posters, postcards, and flyers are printed for thousands of companies, media houses and coffee shops across South Africa. In a matter of minutes, a pile of paper flows from the printer.

On this spring day, the sun shines brightly and the sky is clear. The tranquillity is shaken by the loud rattle of paper being printed.

“In our age of technology, when you are studying, nobody thinks, ‘ooh, let me go into paper’. I think it is a very rare thing,” says Knieps.

Knieps, who is born and bred in Germany, founded Johannesburg-based Printulu last year. The name is a combination of the words print and Zulu (a South African language). He studied business at EBS Business School in Germany and got his master’s degree at ESADE Business School in Barcelona, Spain.

Starting the business has been far from plain sailing.

“The first couple of months, we were completely bootstrapped. You get your first clients, you show some nice traction, and then, in the beginning of the year, we raised some funds, which were a couple of million rands, which are enough to last for the next two years,” he says.

Investors are hard to find.

“South Africa is not the easiest place to raise money. There also isn’t much money in the market because of the current economic climate. [When] it comes to online printing, people just look at the industry itself; they don’t think how you could invest deeper. There aren’t many investors and it takes a while to close deals [compared to] anywhere else in the world,” he says.

Knieps says the future for paper printing is mass production.

“We are batching up all these smaller orders and print them in bulk and that is how you can disrupt the market. Hence, you see a shift from offline to online in the industry,” he says.

He calls on other entrepreneurs to get with the times.

“The industry is very inefficient in a way that there is a lot of competitive pressure. There are thousands of printers in Gauteng who are operating with an archaic business model. You have inefficiency on the one side and macroeconomic pressure on the other. That is why a lot of printers are closing down even though we are growing strongly at the moment. If you see those components, it actually makes people a lot more price sensitive and that actually helps the business to scale,” he says.

Print dead? Not in the world of Knieps.

By Melitta Ngalonkulu for Forbes Africa
Image: Forbes Africa

Starting your own business? Here’s some advice

Here’s the irony: it’s never been easier to start a business, which is why it’s never been harder to start a business.

In the “old days”, when a big company had 5 00 staff, it had 5 000 horsepower which is why back then, big companies and governments were the only entities that could get the big jobs done and move the world forward. But thanks to digitisation, the world has changed drastically in the last decade or two. Now, a small company of 10 bright people equipped with the enabling technology become an army that has the equivalent 5 000 horsepower.

This is why starting a business has never been more alluring. Small groups of people can disrupt massive industries just like Uber and Airbnb did to their respective industries. The really big problem for most established industries is that it’s hard to see where new competition is coming from. The entire taxi industry could never have predicted that two entrepreneurs and a few software engineers could change their lives forever.

Things are heating up

For the first time in the world, you can impact the world from your bedroom while chilling in your underpants. That said, big companies aren’t standing still and they are equally using the same technology to ring out efficiencies in their businesses. I believe we are at the point where we will see technology replace people in big companies at an unprecedented rate.

A small example of this is Nu Metro and Ster-Kinekor. Just two years ago, you actually bought your movie tickets from a human being at the ticket kiosk. The other night, I went to the movies and counted a total of three staff working. All tickets and refreshments were bought using a tablet at the front desk. The only people working were the ones pouring my Slush Puppy and dishing my popcorn for me.

With this in mind, being an entrepreneur is a great idea with just one caveat: the easier it gets to become an entrepreneur, the more other people are going to do it. Competition drives innovation which means it will get harder and harder for startups to succeed unless they are absolutely excellent. With this in mind, the following advice is critical to you starting a business:

  • You have to be absolutely passionate about the business you want to start, but your business also has to also solve a big problem for society (there must be an appropriate market for what you want to do).
  • Conscious capitalism is the way forward. Doing the right thing isn’t a nice to have anymore. It’s the only way to do business.
  • You have to have the energy of a 1 000 men when you start because every little detail becomes your responsibility.
  • That said, you have to become a master of technology so that you can scale your business. Technology enables small groups of people to act like an army. The days of linear improvement won’t do.
  • You have to become forever educated because the world is changing so fast and you need to know what’s going on in order to understand how approaching trends will affect your business. YouTube, daily reading and podcasts: informal education is key.
  • Finally, play the long game. Create a 30-year plan and work backward. Chase excellence and not money. Money is the result of doing something well. When you put this all together, you have a sustainable business.

By Mark Sham, founder and CEO of Suits & Sneakers and Impello incubation hub

Eight habits of successful people

There are no guaranteed paths to success and wealth, but there are certain habits and lifestyle choices that most wealthy and successful people employ in their daily routine. Adopting them could help you on your way.

1. Reading
Warren Buffet has said that he spends 80% of his work time reading and learning. His enormous wealth obviously creates space for that when many of us would need to be getting on with our more standard jobs. However, the lesson remains. Those with a greater understanding of the world around them are exponentially more prepared to deal with the difficult decisions that life will throw at the.

2. Personal care
Specifically, exercise and personal hygiene. The benefits of even limited exercise once a day are well established. It makes you sharper and more positive in your approach – Richard Branson claims his productivity has doubled since he started an early-morning bicycle ride. Personal hygiene is critical to how you are regarded by your colleagues, and somebody who cannot take care of themselves is unlikely to be able to take care of a business. Diet is also critical – eating the wrong food at the wrong time of day can upset your ability to focus.

3. Rise early
Early risers have the benefit of a quiet couple of hours to clear their minds or to really focus on something while there is still peace, or to exercise. This quiet time for reflection is a common theme in surveys of wealthy people, and is said to reduce stress.

4. Sleep
Another common theme among the successful is that sleep is considered a priority. Albert Einstein is said to have required ten hours of sleep a night, which might be somewhat extreme – but surveys reveal that successful people make sure they get seven or eight hours of sleep a night. So, perhaps eschew that extra episode on Netflix and get to bed instead.

5. Don’t sweat the small stuff
Getting wound up about stuff you have absolutely no control over, such as bad traffic and slow WIFI or technical issues does nothing but reduce your ability to think straight. Successful people understand that they ought to control what they can, and laugh off what they cannot. Of course, you have options to avoid traffic and install reliable WIFI and, more generally, you can keep timewasters and negative people out of your life, but when the unavoidable happens, just take it in your stride.

6. Live with moderation
This isn’t a call for miserable austerity, but a reflection that a key feature of the behaviour of many successful people is that they live reasonably moderate lives. It’s not that they don’t live very comfortably, however they do often eschew the wasteful expressions of enormous wealth. Many have a single, expensive passion – be it wine, whisky, cars, travel or art – but it is usually indulged quietly and in a context of more generalised restraint.

7. Treat your juniors with respect: make time for them
Getting younger and junior people “on your team” is often as simple as acknowledging their work and according them respect. The most junior people in your sphere of influence will one day move on to greater things, and your behaviour towards them when there was a gulf in power dynamics will never be forgotten. Use your power to uplift and encourage people, to ensure that they have the tools they require to do their work, and you’ll be repaid with interest over the years. It’s a simple, easy and valuable habit.

8. Trust your gut
Despite whatever confidence issues you might have, the chances are that you’re doing the job you’re doing because you’re good at it. Create enough quiet in your daily routine to hear your instincts. They’re often quieter than the many other people demanding your attention and that you take a certain course of action. However, more often than not, your gut is worth listening to.

 

  • 1
  • 2
  • 7

Follow us on social media: 

               

View our magazine archives: 

                       


My Office News Ⓒ 2017 - Designed by A Collective


SUBSCRIBE TO OUR NEWSLETTER
Top