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Kevin O’Leary’s 5 Keys To Success: The Dragon Speaks Out!
November 18, 2010 at 10:09 am 2

Kevin OLeary


Kevin O'Leary is one of the most famous folks from Dragon's Den. To put it mildly, he is definitely not afraid to share his opinions on pretty much everything - whether you asked him or not! But, it's that same brash personality that has made him a millionaire many times over. So when someone who has succeeded and failed, and then succeeded again tells you 5 things you need to be successful, it's definitely worth listening. For entrepreneur week Kevin spoke at The Ted Rogers School of Management (Ryerson University) on Tuesday night, and here's what he pinpointed as the 5 things you need to be successful. 1. You need to admit your weaknesses to yourself. Only focus on your strengths, give someone else the work that you're not good at. And you can't be good at everything! 2. Communication Skills You need the ability to stand up in front of a big crowd and share your vision with confidence, to articulate what you are trying to do, and inspire others to take action. 3. A Laser Focus On Shareholder Returns Your bottom line should be your bottom line. As Kevin says "If you have to fire your mother, fire your mother". It seems harsh, but it's painfully true. Here's how Kevin put it, "If you're an employee, the CEO is always looking for way to fire you, because you are a cost, and the CEO's job is to cut costs and make more money". When he puts it that way it kind of makes sense, doesn't it? 4. No conscience. According to Kevin "You don't make friends, you make money. If you have to, fire your best friend”. When I raised this point to fellow entrepreneur he came back with an interesting story. Brad mentioned "It makes sense. My best friend and I started a venture a few years back and decided to fire each other. We realized we were bringing the same things to the table rather than complementing each other as we always had outside of business. We each run our own successful biz's today and remain best friends." That situation does take a lot of maturity, and also confidence to believe that you can do it all again. But that's the kind of belief you need to be a successful entrepreneur. You need nerves of steel! 5. You need luck Kevin believes there's just something...an energy, or some sort of karma, that successful people have. And that's pretty true, too. Successful people inspire success. They are normally confident, and they normally have lots of interesting stories and they know how to embrace opportunity. Look at Kevin, he's just got it. He's crazy wealthy, but he's smiling and having a good time during the presentation. He's convinced all of us at the presentation that we can be successful! That something, that luck/karma/energy....he's just got it!
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Life
How To Get The Most Out Of Your Real Estate Investment
June 29, 2010 at 11:28 am 1
oz_house_streetlevel Today's post is from guest editor, Julia Stepanova, a local real estate expert who has done some great investments herself, and is on board to help guide us in our wealth building activities. --- In Toronto the real estate market has not been as affected as it is in the USA. In fact we've had a hot market for the past few months. Our 2010 Forecast called for a strong first half in sales and a slower second half due to three factors. Factor One - the introduction of the HST (which will NOT impact prices in the resale market but will increase the cost of services and new properties over $400,000). Factor Two - we are expecting a bump in Bank of Canada interest rates in the second half of the year, which will make it harder for some people to afford (and therefore fewer people will buy). Factor Three - more listings are coming to the market (particularly in the condo segment). Right now the market is still hot but will be softening towards the end of June/2010. And if you like to take your time looking for a place and multiple offers is not your thing this means it is your time to shine. If you are looking to get into the real estate market it's a great time. But how do you get the most out of it? First, make sure you're taking the right steps. 1. Get yourself preapproved by going to your local bank. 2. Decide on the area. 3. Write your wish list. 4. Find an agent specializing in your preferred area. 5. Do not forget to allocate 1.5% of the purchase price towards the closing cost. If you want a steady return on your money, houses can be a sure bet and it have two strong things going for them as an investment. First, any capital gains on your principal residence are tax-free. If your house appreciates by 6 per cent, you get to keep every cent of your gains. Now 6 per cent may not sound like much, but in terms of how much you end up with, you'd have to earn as much as 12 per cent on a fixed-income investment such as a GIC to match that return, after tax. Second, you don't have to come up with the full purchase price, meaning you're able to harness leverage. The conventional mortgages require a down payment of 25 per cent of a house's appraised value. Where as the High Ratio Mortgage, requires only 5% down payment. For example, if you buy a $200,000 home, you need to come up with around $50,000 for a conventional mortgage. If the home's value rises to $220,000, that's an increase of 10 per cent. But what's really happened is you've put up $50,000, and made $20,000. Your real gross return on your invested funds is around 40 per cent. But notice the word “gross”. Don't forget that your real return will be less. Buying a home and having a mortgage is also a tremendously powerful forced savings program. You need to pay for housing, whether you are renting, leasing, or paying your mortgage. So why not put your money towards a mortgage, and if you invest wisely when you sell you will get it all back. If you rent, you never get anythign back. ---- Julia is a real estate agent with Re/Max Condos Plus and you can find her here.
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Life
Need a Boost? Top Tips To Get Your Dream Life
June 12, 2010 at 3:56 pm 0

For many of us we dream of what our fantasty life is like...we even go down to the details of what kind of food we would eat, what kind of purse we would wear, and what kind of great parties with lovely canapes we would serve while all our guest laughed, mingled and had a wonderful time. But how can you get that? Here are some great posts on how to move on to your fabulous life: Leave Behind The Negative Things In Your Life Break Up With Your Negative Friends Negative friends are just miserable themselves but they also affect you in ways you'd never expect. Read on to find out why it's absolutely critical to break up with your negative friends now. Personal Success Is Not Just For Rich People From Happy Families Think that happiness is much easier for everyone else, but it's not available for you. Think again and learn how the cashmere clutch founder left behind a miserable life to travel the world and find true happiness. Get What You Want How Daydreaming Can Help Your Dream Life Come True How are you going to get what you want out of life if you don't know what it is. Read on to find out how daydreaming can really help you get your dream life. Dream Big & Have A Clear Picture of What You Want We've all heard of vision boards from the Secret. What's on yours...do you have a clear picture of what you want? Read on to see a dream house, and how having a clear idea of what you want, whether it's a Gucci purse, yacht, or dream home helps you creat something to work towards, instead of just treading water with what you have now. Women and Weight Loss: Two Women's Journey From Fat To Fabulous Being healthy and feeling great about yourself are absolutely crucial to your personal success. Learn how two girls lost fifty plus pounds and discovered a happier life. Career Success How To Make Sure People Remeber You At Events We all know networking is absolutely essential to career success. Read on to find out how you can make a great impression and make sure people remember you after networking events. Top 10 Lessons From Successful Female Entrepreneurs Want to be a business superstar? Learn the top 10 lessons from successful (gazillionaire kind of successful) entrepreneurs. How To Build Your Own Financial Fortune How to Live Like a Diva on a Dime Feeling the pinch? You don't have to settle for Kraft dinner and re-runs even if your bank book is suffering. Read on to find out how you can still have a fabulous life while also saving a bundle! Investment Success: Condo Sale Pays Big For women there's nothing more empowering than financial freedom. Read on to discover how real estate investing the financial goods and ended up delivering some handsome returns.
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Life
Spring Success Resolution: What’s Yours?
March 24, 2010 at 12:59 pm 0


Succesful Woman
Inside all of us there is a super duper successful person. Whether you want to be the president of your own company, the best mother in the world or a Nobel prize winner almost every single one of us has a secret dream of doing something amazing. What's your dream? And more importantly, what are you doing about it? One quick way to keep yourself on the path to success is to set regular goals and resolutions for yourself. Take five minutes and come up with your Spring Success Resolution! Choose something that is challenging, but not intimidatingly huge. Instead of starting out with a resolution like make 1 million dollars in May, make it bite sized, and perhaps set your resolution to meeting one potential client for coffee each week. New business equals more money, so you will be on the way to your goals, but you won't be crushed if you don't make 1 million! If you think you can handle a few resolutions why not make monthly goals - here's an example to follow, and don't be afraid to make mistakes and look over your plan at the end of the month to see what went wrong and how you can fix it for the next month. So goal away, and start on your own path for massive success! Good Luck!
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Life
Spring Clean Your Life: 7 Secrets To A Happy and Healthy You
March 17, 2010 at 1:10 pm 0
find balance in life Like most career girls, there comes a time in life when you step back and take inventory or your life, health and everything else. For too many women when their career takes off their health and wellbeing suffers. Suffer no more - it’s time to put some balance in your life and get healthy! 1. Find Balance Between Work and Life. Set aside work free times when you are enjoying your friends, family and relaxing. 2. Get Some Exercise Everyday. Instead of meeting up with your friends for dinner have exercise dates. Make sure you spend a minimum of 30 minutes being active everyday. 3. Avoid Regular Restaurant Meals. The amount of salt and fat in your food will creep up on you slowly. Restaurant meals should be treats, not daily occurences. 4. Think Before You Drink. Many beverages are hidden calorie bombs – read labels and make sure you know what you are drinking. If you are thirsty water is your best choice. If you want a treat proceed with caution before sabotaging your diet. 5. Enjoy Your Down Time. Reduce stress and remind yourself of the simple pleasures in life – relax and unwind in your favourite healthy way. 6. Prioritize Your Life. Too often we spend most of our time responding to the latest crisis instead of living consciously. Step back, remind yourself what’s most important, and plan accordingly. Make sure you are spending the majority of your time with things that matter to you most. 7. Enjoy The Fruits of Your Labour! You have worked hard to get to this point in your life, and there’s no point in continuing if you can’t enjoy it. Stop thinking about what you don’t have, and embrace all the great things you do have. Don’t sweat the small stuff…it really doesn’t matter. You’ve worked too hard to have a lost button or cancelled plan ruin your day. Start Enjoying!
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Life
Seven Secrets to Success
August 26, 2009 at 2:36 pm 0
I was at a conference recently and there was a lot of chatter about success. When I got home I took a reflective moment to figure out all the things that make us successful in all aspects of life and in love. From my early life on a farm without electricity to my life now there have been some clear things that have helped me along the way. 1. Risk taking. What do Gandhi, Steve Jobbs and Rick Hansen have in common? They all took a huge risk. What if nobody cared about their political cause, computers or wheelchair ride across the world? What if....there are so many “what if's” that make us second guess and stop in our tracks. Only risk takers follow through and expose themselves to the “what if's”...... 2. Innovation. Doing the same thing over and over again will rarely get you different results. But doing something new or changing something slightly makes all the difference. Look at Starbucks - they didn't invent coffee, but instead they looked at coffee drinking as something different, more like an experience, and sold it accordingly. Some of us have the creativity to come up with a completely new idea, others of us can improve an existing idea - either way doing something different makes all the difference. 3. Talent. Notice this is not number one? It never is. Talent is the natural ability to do something well and it's something you have or don't. Talent alone won't get you far, but talent combined with all these other parts make us successful. Don't know what your talents are? Expose yourself to new things and also look at the things you love doing - usually, we enjoy things we are talented at. 4. Courage. Courage my love, you have done me well! I would not be the same person at all if I didn't have courage. After university I picked up and moved to France....without speaking any French, and the experience helped mould me into a better person. Sometimes courage places us in foreign territory well outside of our comfort zone, but it's what keeps us going on, and on, and on, to find greatness. 5. Honesty. Being honest enough with yourself to admit what works, what doesn't or why you succeeded or failed at something will get you far. Only after you look honestly into success and failures can you learn from them and move on to bigger and better. 6. Luck. Ever been in the right place at the right time? Met a pivotal person in your life by chance? Sometimes we take all the right steps and it's not until something happens that's a little out of our control that we truly make it big. 7. Happiness. This one is usually overlooked, but is so critical. Would we ever realize we were successful if we weren't happy? Likely not. Happiness allows us to not take it all so personally, to stop responding to everything in a hurry, and instead be more planned and strategic, and happiness also allows us to step back and smile at what we’ve accomplished. Ever met one of those people who has everything yet they are full of complaints? This went wrong, that is working, this guy is a dummy, and nothing is ever their fault – it’s just bad, bad things that keep on happening to them. They may have everything that qualifies them as a success, but without happiness they’ll never realize that they actually are a success!
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