Log of what of Chishty Khaled has learned at Techie Youth

Fri. Aug. 5, 2022

What is the internet? Why should you be a front-end developer? Fundamentals/Best Resources

The internet is a branch of computers that are spread all over the world and can communicate through a specific internet. The world wide web is an information network allowing the access of documents and such through what we know to be web pages. Although web development takes time and a lot of practice, it can be learned. A lot of opportunities also open up as the field is one that will continue to grow and expand. Front-end web development is a hard career and while it pays well, money should not be your main driver in pursuing it. Salary is also heavily dependent on the cost of living and location. In one area you can get less of a total salary in comparison to another however the living expense is drastically lower in that area. Some fundamentals are that it is highly recommended to learn computer science first before going into web development. CS50 by Harvard is one of the best CS courses as a resource. It is very important to not waste time with tutorials that are not worth it. Youtube is a great resource for web development but avoids any crash courses. If there are any free materials it is great but make sure it's worth your time. Learn the basics through a book and take inspiration from your favorite websites. Knowledge compounds and you should take your time really mastering the basics. Be very repetitive in what you're learning so that it becomes a habit.

Thu. Aug. 4, 2022

Controlling risks with options, Scam? What is a commodity? Difference between commodity and asset? Commodity index!

Although they do have risks associated with them, they can be managed in a variety of ways. One such way is through a protective put. Options can also be used to leverage plays with a less likelihood of loss than actually owning shares of stocks. This is because long options can only lose a maximum of the premium paid for the option, but have potentially unlimited profit potential. Another method of controlling risks is through a strategy known as a married put. It is where an investor purchases an asset and at the same time purchases put options for the same number of shares purchased. This lets the investor protect their downside risk when holding. A binary option is a type in which the payout depends entirely on a yes/no proposition. Unlike normal options, the holder does not have the right to buy or sell the specified asset. When the binary options expire the holder receives either pre-determined cash or nothing at all. Some methods in which fraud is shown are identity theft as well as refusal to credit customer accounts or reimburse funds to customers. A way to be safe from such scams is to always check the background of a firm as well as their license status. A commodity is a basic good in commerce that is interchangeable with other goods of the same type. The difference between a commodity and an asset is that commodities are physical products that are meant to be consumed or used in the production process. Some types of commodities are those that are mined or extracted from the earth. Soft commodities are those that are grown such as agricultural products. A commodity index is where it tracks the price and returns on a basket of commodities.

Wed. Aug. 3, 2022

Picking the right option, top 3 options trading strategy for beginners Covered call writing? Risks?

Some steps to go about finding the right option is to first determine your objective. Next is to determine your risk-to-reward payoff as well as your risk tolerance. The third step is to check the volatility because this can determine your strategy of trading. Moving on, identify specific events which can lead to changes. The two types of events are market-wide and stock-specific. Lastly, devise a strategy based on all the previous points and set up parameters. One of the most basic forms of call option strategy is “long calling”. In this instance, the buyer of the call option is looking for a profit through a rise in the underlying asset. Covered call writing allows you to write options at a substantially lower risk. The strategy is used typically with stocks as well as to generate consistent income in the market. It is a neutral strategy in which traders expect stocks or indexes to have range-bound moves. One of the main benefits of options is the amount of leverage you have in comparison to stocks. The percentages vary a lot more and the return you can get can be multiplied substantially when compared to the return one would receive from stocks however because of this, there are more risks as well. When looking into the risk a simple way to think about it is that when you buy an option your downside potential is only the premium that you had spent on the option. But when you sell a call, there is unlimited/infinite downside potential. Now when you sell a put, the downside potential is limited to the stock's value. Some methods by which risk can be offset are through covered calls and protective puts. Covered calls are where the individual selling call options already owns an equivalent amount of the underlying security. Protective puts act as an insurance policy by providing downside protection in the event the price of the asset declines.

Tue. Aug. 2, 2022

Everything Options! What causes implied volatility?

Unlike when one buys shares, options have an expiration date and because of this, you have to choose a specific time limit. All options have something known as a “strike price” which is when the option can be converted into shares of stock. When options are being traded, it's not required to have to exercise the option to realize the profit you can earn. “In the money(ITM)” is an option that has intrinsic value. On the other hand, “Out of the money(OTM)” is any option without inherent value. “At the money(ATM)” is an option with a strike price very close to/equal to the current stock price. Shorting calls are very risky moves due to the unlimited amount of losses one can gain through it. It essentially is equivalent to unlimited risk because if you were to bet against the increase of price and their no upper price limit, as a result, there's also no limit to your losses. Shorting put options is selling put options you don't own. Put prices rise as the stock price falls and decrease as stock prices rise, because of this, shorting put options is a bullish strategy. Changes in extrinsic value due to a change in expected stock price volatility cause implied volatility to change. Exercising an option is when you own an option or you can convert it into a stock position at your options strike price.

Mon. Aug. 1, 2022

What are Stock Options? Going long and short with a stock! Advantages of options? Disadvantages?

Derivatives are a group of investments that are from an underlying security/rate. An option is a security sold from one investor to another with an agreement between both parties. The buyer of the option, pays a premium to the “option writer” which is essentially the seller. As a result of the transaction, the buyer is given the right to buy or sell a specified investment to the other party at a predetermined price in the future. An option to buy a share is known as a “call” and to sell it is called a “put”. A call option means that the options will increase while a put option means it will decrease. In regards to profitability, it will depend on the strike price which is the agreed upon price as well as the market price before the option expires. A very important keynote to keep is that writing options leads to more risk in comparison to buying them. When someone goes long with a stock, that means that they're willing to hold onto that stock and aren't looking to sell anytime in the future. When deciding if you should go with stocks or options some things to ask yourself would be, What is your risk tolerance?Are you a long-term investor or short-term?, as well as Where are you more likely to gain profit?. One of the main advantages of options is its ability to be used as a source of leverage and risk hedging. It is possible to earn a far greater return on one's investment in comparison to buying shares. On the other hand, some disadvantages are that it is risky as well as complex. They are more suitable for experienced professional investors rather than ones who are just starting off building their investment portfolio.

Fri. Jul. 29, 2022

Good value proposition? Steps to a value proposition

A key factor of a good value proposition is that it offers value. The proposition should be specific, and address problems that you are able to fix, show how you stand out, and propose a value that only you are able to offer. The 5 steps to a value proposition are to Identify the major problem because through this you can decide if you'll be able to solve it. Once the problem is identified, then figure out the benefits of your product that are in line with the customer's needs. The third step is to write out why these benefits are valuable. The fourth step is to connect the benefit you offer to the customer's problem. If the solution is in line with the problem, only then are you in a position in which you are able to offer a proposition. Lastly, learn how to differentiate your company from your competitors.

Thu. Jul. 28, 2022

Trading psychology, Common emotional mistakes in trading! Habits of winning traders! Top 5 risks to consider when doing forex Scams in Forex Can forex crash and if so how does it differ from the stock market? What are REITs? Benefits of REITs?

Do not look at the trading outcomes in a certain period and use that to determine the results in the future. There's never a straight line up and the overall outcome of a trade doesn’t fold linearly. A drawdown is a fall in your capital due to losing trades which is normal and shouldn’t try to generalize. In the long run, a combination of wins and losses leads to winning. One of the common mistakes is that they rush into new trades after experiencing a few losses to win their money back quickly. This typically leads to them buying low-quality trades as a result of it. The opposite is also a mistake where due to a series of losses they become more reserved. Another mistake is staying in a losing trade with the hope that things will turn around. A mistake that is tied to this is that usually, they won't have a stop-loss order as well. The third is that they only focus on short-term results which leads to them losing their initial view of their goals. The fourth mistake is not sticking to a consistent percentage risk per trade. Another mistake that is similar to the previous one is constantly changing up their trading system and not being consistent in it. Trades who experience losses only focus on their account balance rather than the plan or system in place and because of this, they get affected emotionally and lose confidence. Lastly, they trade with methods that aren't in line with their personality and they are not familiar with. A trait of the winning traders is not being hesitant when they see an opportunity. They take responsibility for their mistakes, learn from them, and don't dwell on their setbacks. They know that with trades there will be losses and they expect it and accept it as part of the process. Traders who are successful follow the trading system and think logically with a long-term mindset rather than a short term. Lastly, they are consistent in their methods and are patient in looking out for opportunities that present themselves. Some of the risks to consider when indulging in forex are interest rate risks, transaction risks, leverage risks, counterparty risks, and country risks. Some scams associated with forex include robot scams as well as certain brokers and companies who can take your money and never return it. Due to forex being such a large financial market, if not then the largest opportunity to scam others makes it that much more likely. The forex market can crash however it is different from the stock market in that if the stock market were to crash, it would affect the majority of the stocks. Unlike forex, the stock market all trades in the same currency. The Forex markets crash more on an individual level in that a singular currency can crash but not the entirety. REITs are known as real estate investment trusts and it is a way to invest in real estate without actually having to buy real estate directly. One of the benefits of owning REITs is their dividends which give out to their shareholders. They have to give out at least 90% of their net income to their shareholders, which is shown by their yield percentages. However, a drawback to this is that they are seen as distributions, which means they get taxed at the highest marginal tax rates. A way to get around it is to hold your REITs in a tax-free account such as a TFSA or RRSP.

Wed. Jul. 27, 2022

What is Forex? Major differences? Best Forex Indicators! Tips for Forex trading

Forex is known as “Foreign exchange” and it is the trading of money between foreign currencies to get a higher value of money after the trade. Some currencies are worth more than the ones you use and through that, a gain is made. Unlike stocks, the forex market is open 24 hours a day, 5 days a week, and is open on a lot of holidays as well. Some factors that lead to a change in the exchange of the currency are Monetary policy, political stability, interest rates, and imports and exports. Some of the major differences between forex in comparison to other markets are the fees and commissions as well as fewer rules. The fees and commission are very broad and vary between brokers. One strategy is the Bull flag surfing strategy which is where you look for currencies that are very strong against very weak currencies. Some entry rules to follow when going forward is to make sure that the currency strength is aligned, second is that moving averages are surging up. The third is that candles are ‘surfing’ EMA and the fourth is that after a strong impulse, corrective candles make a lower high. This means that there's a big jump in highs and then following it soon after, there are lower highs at a consistent rate. Once that first higher high appears, place a buy order. Always risk 1R to make 2R, double the pips. Exit rules are to put a stop-loss just below the candle in which it is 1R distance, and take profit at 2R above entry. The first tip is to Define your goals and trading style because your style will determine your risk profile. The second is to choose a reputable broker whose policies align with yours and you get both a good platform and a good broker. The third is to have a consistent Methodology whether its technical analysis or fundamental. The fourth one is to determine entry and exit points. This means that if you have a weekly and daily chart, be sure to keep track of it and add them together. If one chart shows one thing, then let the other chart match it before making a decision. Fifth is to calculate your Expectancy which is the formula to determine how reliable your system is. The formula for expectancy is (% Won * Average Win) - (% Loss * Average Loss). The sixth tip is the risk-to-reward ratio which you should be mindful of each time before you enter a trade. The seventh is a stop-loss order which means to exit the position at a specific exchange rate. They are a great way to manage risk. The eighth is to be mindfully prepared for small losses that can happen and know that it is part of the process. Lastly, perform a weekly analysis and keep a printed record which will then make it easier to differentiate between which ones to exit or buy, etc.

Tue. Jul. 26, 2022

What is bitcoin mining? Hash rate? Block reward? Bitcoin trading! What are maker and taker fees? What is Litecoin? Ethereum? What is a shitcoin? Blockchain? Blockchain variants, Smart contracts

The person who has a more powerful computer is more likely to earn the right to update the ledger of bitcoin. Mining is similar as well, where the stronger one's computer is, the higher the chance. Mining is essentially a guessing game that is run by your computer and once your block is created, it gets updated within the ledger and sent out after. The mining difficulty is also self-adjusting to the amount of mining power making it harder to win. Hash rate is the mathematical problem that a miner's computer needs to solve. Block reward is the number of bitcoins awarded for a miner finding a solution. Your electricity cost also plays a role in mining profitability because electricity is needed to mine. Some other profitability factors include power consumption, pool fees, and bitcoin price. Bitcoin trading unlike a stock market is open 24/7 and is unregulated. The two methodologies associated with trading are fundamental analysis and technical analysis. Fundamental is looking at the big picture, for example, in bitcoins case, it's looking at the news, technical developments, and issues associated with affecting the price of bitcoin or outside forces. Technical analysis on the other hand tries to find patterns in the price and predict what will happen next. Makers create new orders that aren't instantly fulfilled, and a taker creates orders that are instantly fulfilled because a market order was already in place to match the request. Takers also generally have more fees compared to makers, because they take away from the exchanges. Litecoin is a cryptocurrency created after bitcoin with the goal of trying to divert the attention bitcoin received and divert it a bit. It was also created with some differences such as having a faster transaction processing time compared to bitcoin. Ethereum on the other hand is branching out further and is a global software platform that is known for its cryptocurrency. While both bitcoin and Ethereum have similarities, they have different end goals. A shitcoin or alt is a type of cryptocurrency that doesn't have enough users as well as any useful features that it is essentially useless in the market. Blockchain is essentially a chain of blocks that contain information. The way it works is first, someone requests a transaction, then the requested transaction is broadcasted to a P2P network, following this the network of nodes validates the transaction as well as the users status, and lastly, when the transaction is completed, the new block is added to the existing blockchain. There are 3 different blockchain variants Public, private, and Consortium. The PUblic is when ledgers are available to view to everyone and add blocks of transactions to the blockchain. Private is within an organization where only a select few can add to the blockchain. Lastly in a consortium, only a group of organizations can verify and add transactions. Smart contracts are automated engagements between the contract creator and recipient. An executed contract is a signed contract that establishes a connection between parties to uphold legal duties which were agreed upon within the contract.

Mon. Jul. 25, 2022

How to read stock charts (Bar charts, candlestick charts)? What is short selling? The risks of trading! Pump and dump? Cryptocurrency

Stock charts are a great way to know if you should buy or sell during that moment and when not to buy. When it comes to bar charts, multiple vertical bars show the highest and lowest prices of the stock. You can also adjust the time intervals based on your preference if you want to see a more short-term chart or see longer-term trends which are made up of months to years. Intraday charts which are the shortest interval are the best when it comes to deciding when to buy and sell. In a bar chart, the length of the bar also matters as it shows how much the stock moved within that period. The longer the bar is, the more volatile the stock was in comparison to a shorter bar which means it didn't fluctuate as much. Most charts have a green or red color indicating whether the end of the interval is increased or decreased. The twigs that are shown on the bar are there to show the opening and closing times of the interval. The vertical bars that are shown at the bottom of the graph show the trading volume within each interval. Another type of chart is the candlestick chart, where the rectangular part of it is called the “body”. If it is hollow, then the stock ends the interval higher than the opening price and if it is filled, it ends lower than the opening price. Always remember to use a broker that is sipc insured, that way if something unfortunate were to happen to the broker, you would have your money sent back to you. A short sale is a transaction in which the seller does not own the stock that is being sold but borrows it. Short-selling is one of the most common high-risk trading types. There are different kinds of risk, like market risks which are something that the trader has no control of. However, 3 types of risks that are manageable are Inflation risk, Marketability risk, and currency translation risk. Inflation risk is where your money doesn't increase at a pace where it can outperform the increase in prices due to inflation. Marketability risk is associated with the liquidity of your investment, and lastly, currency translation risk is the disparities in trading stocks of companies in foreign countries. Another type of risk associated with trading is “slippage risk” which are hidden costs that are associated with every transaction. Be careful of scams like the pump and dump where scammers try to get people to buy a certain stock saying that it will rise in value. After the price increases, the scammers sell their portion of the shares which causes a massive dip in the price leading to a major loss for investors.

Fri. Jul. 22, 2022

Introduction to investing, The 7 principles of investing. Dividend Stocks? What are the 2 main types of stock? What are Index funds? Types of stock orders What is a stock ticker? Trading hours!

Stocks are shares of real companies which you own. Cryptocurrency is virtual money that you trade but has a limited supply. You can trade with your local currency and the idea behind it is to buy it for cheaper and sell it for more and at the end of the trade, you keep the difference. A disclaimer is that it is possible to lose your money so always only put in how much you are willing to lose. Some trading techniques are riskier methods of investing and trading which can lead you to lose more than you put in. The 7 principles of investing first have integrity. The second is to invest not with your emotions but with facts. The third is to buy a wonderful business and the 4th is to only buy stocks you understand. The 5th is that when you see a great opportunity, take it. Sixth is not to sell unless the business fundamentally changes and lastly, buy at a price that is below the intrinsic value. A good rule to follow is that when you invest, spread out your money and buy from many stocks instead of putting all your money into one. This will lessen the risk because then you are not solely centered around one company where if that company were to crash you'd lose your investment. You have a diverse selection of stocks to help as a cushion. Another way in which to make money through stocks is through dividends which are regular payments to shareholders from the company. To buy stocks, one can open an online brokerage account. The two main types of stocks are Preferred and Common stock, common being stocks that could pay dividends but aren't guaranteed and the investors have voting rights depending on how much they own. Preferred stocks, on the other hand, pay fixed dividends and are first in line when paid and receive any liquidation of assets before common-stock owners. They do not have any voting rights. Trading is short-term where an investor buys and sells fairly quickly while investing is when you buy and hold the shares for the long term. Index funds allow you to purchase a bunch of stocks as a group and as one transaction. The most common stock orders are “market orders”, “limit orders”, and “stop-loss orders”. The market order is to buy or sell immediately but does not guarantee the price. Limit orders are to buy or sell at a specific price or better and depending on if you are buying or selling it can vary. A buy limit order can only be made at the limit price or lower and a sell limit can only be made at the limit price or higher. A stop-loss order is to buy or sell a stock once the price reaches a certain point. A buy-stop order is entered at a stop price above the current market price and A sell-stop order is entered at a stop price below the current market price. A stock ticker is simply the letter symbols in which a company's stocks are represented. The trading hours are typically from Monday- Friday and a majority is done during regular business hours. In certain places, this can vary, for example, the Saudi stock exchange. During holidays, it depends on the location, and in some situations, it's open during holidays, but ours are limited.

Thu. Jul. 21, 2022

silence in business!! What are the key factors of successful sales and marketing? Learn to keep it concise. How to maximize profit. What's your management style and how does it change your outcomes? Can people change?

The less you talk the better it is because it makes the other person more likely to reveal their cards without them even realizing. Another tip is to only talk however much is necessary, and nothing more than that. The secret to successful sales and marketing is to sell benefits not features. It's very important to get to the point and be very straight up with how you pitch your ideas and what benefits your offer. If you were to close a deal, don't overtalk and keep it concise. The first step to maximizing profit is to present your product well and recondition it. Make sure to research the price to see how much is the value of the product and then decide on pricing. Photograph your product well and don't be cheap in photography. Depending on your management style can determine how others perceive you. Think of it like the good cop and bad cop scenario. The bad cop will get the respect due to them being out front, while the good cop gets respect through comradery. It's good to have a balance of both on a team because then it helps balance each other out so that theirs not too much on one end which can lead to others not being fond of you or taking advantage of you. It is also important to be consistent with your role, otherwise, your employees can show animosity because they don't know what to expect. It's very rare for people to change from when they're young unless they take the steps to try to change. When something becomes a habit, it's highly unlikely for them to suddenly change it around, and don't expect them to either.

Wed. Jul. 20, 2022

What to know before renting out an office? How much money is needed to start your company? Lean operation? MVP? The reason why investors reject you!! The importance of being Hands-On with your business

I learned that it's very important to know if your landlord is good because that way it's easier for you when situations arrive in which you would need some time. For example, with covid and a lot of jobs being canceled, it can be hard to pay rent, and having an understanding landlord can make that process easier. It's also important to know that more often than not when you rent a space, you'll have to make adjustments to the space to fit your needs which will be a further expense. It is worth noting that the fire code law should be met and not gone over when deciding on a space. Heating and air conditioning are also important and finding a place that already offers it built in is the best choice due to the high expenses that are associated with it. Keep in mind the security of your place, such as sprinklers for fire, locked windows, and so on. The way pricing works for a commercial area is the price per square foot/per year. One of the most basic costs is your product development cost. If you have a lease, even if the area is not being used, you will still be required to pay by law. A lot of expenses, even the small ones which you may not think of, add up once totaled so keep in mind things like insurance, and legal fees all matter. A lean operation is when you provide resources only as needed for the future and don't spend on resources that are not needed currently. When scaling up your business first make sure it's viable and then proceed. Don't do “gold plating” which is when you add extra for making it look nice when it has no use. I feel this to be a really good tip because a lot of the time when starting off you might want to go over when in reality no one knows if their business will work out and by the end, you would spend an enormous amount of money, only to not be able to pay it back off and be in a net loss. When looking for someone to invest in you, keep in mind that if you're on your own then it's highly unlikely that somebody will invest. You need to have a team preferably with 2 or 3 people and the max should be 4. The next tip is to make sure that you and your team are putting in effort otherwise investors will steer away from you due to the lack of effort. Have a balanced team in which each person is a critical asset and will help in the growth of the company. An unbalanced team with everyone having expertise in one subject of the company is an unbalanced team. MVP is known as a “ Minimum Viable Product” which is a product that is just enough to attract customers early on without overspending, and then using customer feedback to see if it is worth pursuing further. Being hands-on with your business is a great way to stay in shape. As a result of it, you naturally have more energy, and it's better for a company if the leader is aware of the workings of their business.

Tue. Jul. 19, 2022

How to create a Linked In Profile, What is a profit model, Co-founding, what to look for in a logo designer

I learned that first, your headline is very important to get started because that's what employers look at first and it's also one of the ways they find you. It's through your headline and what it contains. For your headline, it's best to include your job title+company+keyword+ and lastly a zing factor. Its also important to have a professional picture that is clear, and taken with appropriate clothing as well as background. Lastly, your summary is a good way to show others what you have to offer. LinkedIn should be the means of intriguing the employer to open up the resume and look further into if you are a suitable candidate for the work that is needed. A profit model is the plan of a company to help it grow and become a profitable business worth investing time into. There are various different types of models but in generality, a profit model is needed for a company to really operate as it should because it tracks all the functions within the business. From expenses to sales it goes through it all. Another important point to note is to keep in mind your “break-even” point which is the moment in which you are earning more than you are spending. When co-founding, the terms should be set clearly beforehand of what constitutes for someone to be removed from ownership such as for example a person not doing their end of the deal. At what stage is it deemed to be allowed in a sense and these should be set prior to the partnership. Another tip I learned when it comes to co-founding is to have the non-compete set as well. This way if a partner was to leave, they cant be your competition for a set amount of time. When you're looking into which designer to pick for your logo, look into their style and see if it's varied. Do some research into what type of style they have because if theirs no variation, it's a lot harder for them to meet your criteria. I learned that having variation in this sense is good. The second tip is to ask which format the designer does for their logo and go for the vector format because of its superior quality. A very important tip is to always make sure to validate the designer's works and their portfolio by reaching out to companies that they have worked with and verifying their authenticity.

Mon. Jul. 18, 2022

Psychology of people, contingency plan

One of the ways to influence people is not to criticize them. Most people don't like criticism and if they were to be blamed, they could potentially leave your company. Another way to influence people is to offer something that is wanted by them and brings them gratification. Human beings are emotional creatures who run based on emotion and are not logical. Another thing I learned is to determine what value I have to my customers which will push them in making an investment. Always have a contingency plan for your business so that if something were to happen, then you are prepared for it. Business plans are good for keeping track of your business and also a great way to start your business idea from taking off.

Fri. Jul. 15, 2022

Reality of being an entrepreneur. How to get started with opening a new venture and tips on how to advance forward with your idea

One very important thing I learned is that entrepreneurship or side hustle, it's very challenging when first starting. This is more true when you have a 9-5 full-time job as well because then you have to work before and after hours on top of it. It really shows a more realistic view of it that it definitely is challenging and hard and time-consuming but the benefits pay off in the long run. Find a partner who has experience in sales for example and check their portfolio and what they have to offer. If someone does not have experience and claims they can do a certain task, more often than not their not able to or quality suffers. I also learned that an important step to take before launching a new start-up is your finances. Don't let there be any surprises and if any contracts are made, make sure to read the terms thoroughly so no complications occur later down the line. Also, your team is very important because without a good team your venture won't get anywhere. Make sure to determine if your idea is worth it and seek advice from family, friends, and especially people who are willing to invest in start-up companies. Create contingency plans before investing in your idea and moving forward with it so that you have the option to pivot if needed. One of the worst pieces of business advice is not telling others about your idea with the reasoning that someone will steal it. Ask others about your idea and get real feedback that will help you.

Thu. Jul. 14, 2022

What is an entrepreneur? How to be a leader/leadership qualities, how to speak in public .

An entrepreneur is anyone who sees a need and takes on the financial responsibility as well as risk to start a business that fills that need. If your idea involves a physical product in a physical store then that's known as a brick and mortar business. Their many ideas and due to that entrepreneurship is also very vague as theirs on a set course, each have their own idea. One of the many perks to it is having the freedom to do what you want, such as having your hours, dress code, and just flexibility with little to no constraints. Rather than working for a boss, you are the boss and with that have leverage in what you do. The condition for a business to be a business is that it needs to have customers willing to pay. Don't micromanage people who are very well versed in their field even if you are in a higher position than them in that instance because it can lead them to leave as a result of it. Different people require different methods in management. One of the qualities of a leader is understanding that you shouldn't have the mindset of “someone else is going to do it” and because of that, you don't. Be the person who does an activity or makes that move instead of expecting someone to. One thing I learned is that when speaking in public, you should project your voice for people to hear you and move around. Don't be still when speaking because it can bore the audience.

Wed. Jul. 13, 2022

Role models/don't stress/focus on yourself

Find a role model whose intention inspires you to do more. Another tip I learned is rather than finding a role model try to be one and have the intention to make a change. I learned how to travel whilst making money as well. One tip I learned is to be open to different jobs to help you get through your travel expenses. Make use of deals and promotions and don't over-splurge but rather spend within reason. It doesn't require a lot of money to travel as long as you are creative in how you go about it. Don't stress out over little situations in life learn from them and trust the process through it all. Learn to not rush it and don't look at others and what they have, hoping you can get what they have. Focus on yourself and don't care about what others think or say. Lastly, don't look at social media thinking its reality.

Tue. Jul. 12, 2022

Being hyperproductive/Speech tips/body language

Be hyperproductive and use your time wisely such that it becomes easier for you to earn more than you are today. Rather than spending your time watching tv, instead, learn a skill whether it be for fun or a lucrative skill that will aid you. Whatever skill you do, invest time in learning, and make sure it is something you enjoy learning and have the desire to pursue. Another tip is to delegate your work so you don't become drained. It is also important to maintain a healthy lifestyle because if you end up feeling good then you'll do better in your endeavors. Getting a good amount of sleep, exercise, nutrition, and medicine are all things that are very important in keeping you fueled. Your speech plays a major role in how people perceive you and you should do your best to give off the impression of being a leader. Certain words which make you sound unsure shouldn't be used and you should not be timid to give compliments. Body language is also very important and a great tip is to mimic the other person's body language, that way they feel more at ease.

Mon. Jul. 11, 2022

How to get the upper hand in negotiations/Managing cash flow/Way to put money after getting paid

When negotiating, always make it worth your while so that it's something that you'd at least be willing to do. Another thing I learned is to point out a flaw that will help you in getting that last bit of value up on your side. Try to differentiate between who is more “hungry” or rather more rushed rather it be you or the seller. Depending on how “hungry” the seller is it can make it easier for you to get more value off your negotiation due to the sense of urgency. A way to help in saving your income is to restrict your expenditure to what is comfortable and essentially cut off all the slack which is not needed. Manage your cash flow and make it to where your cash in is greater than your cash out paired with lowering your cash out as well as investment and smart tracking of your finances is a great way. Some places to put your money after getting paid or even prior is one towards your retirement fund. The second is to place it in a checking account and from there split out a certain portion through multiple streams. One of which is to handle your necessities and just strictly that which is needed for you to survive nothing more. Next is emergency funds which can be used in dire situations as you have that to lean back on but you have to be cognizant of differentiating between an emergency and a want. The third is paying off any debt early on, and the fourth is saving up for payroll. Lastly, one of the best ways is to invest your money.

Fri. Jul. 8, 2022

Managing Team/Scams/tips to make connections

Some tips on managing team conflicts while remote work is to have responsibilities sorted out between the groups and people as well as dedicated tasks that should be completed which as a result boosts the accountability of every member. Another great way is to have a dedicated space to voice concerns such as a group chat or forum. And lastly, try to keep the conversations personal between members and if need be sort it out through call rather than message/email as it allows each party to connect to the other in a more natural way. I also learned how scammers go about doing what they do first they target people who are in a position of desperation and arent able to think correctly. They also claim to have very large companies as clients which makes it impossible for you to check the reliability of the “connections” that the scammers are claiming to have. Lastly, look out for clear red flags which indicate signs of scamming such as selling an item for an absurdly lower amount than the majority, or being offered a job without any requirement of your credentials. I also learned about networking and how you should try to go about it when in an event. Talk about a common interest/ Search up their name on google and see if they have any use to you as a connection for your business. Don't be timid and if you want to leave the convo, don't be afraid to.

Thu. Jul. 7, 2022

Tips on negotiation/saying NO and loyalty

When going into a negotiation don't put yourself into a position where you feel locked in and it's difficult to leave or you feel constrained. If you're negotiating for salary and it's just not enough for your basic necessities, for example, rent then it is better to walk away and look for another which is more suited for your situation. Another tip is to always have an amount in your head prior to the deal which will make you happy and make you willing to go to work. Never be afraid to walk away as it's a good tactic for negotiation by showing the other individual that you are not willing to budge. If you ever are asked “What’s your expected salary?” don't give them a clear answer up front until later on in the interview process because in doing so you can make a more educated decision. A cut-throat negotiation tactic is to pressure the other person into having them give out a number that they didn’t fully have the time to think through. This leads to the other person feeling as if they might lose out and as a result not taking into consideration all the factors beforehand before setting out a price. A good tactic that benefits the employee who’s being interviewed is the “triple constraint” which is a tactic that takes into account the scope, budget, and schedule. If one goes up then another one or both have to follow otherwise the quality of work suffers. If you are not able to take on a job or it's over your capability then learn to say no because it makes it easier for both the employee and employer. Learn to be able to differentiate where you should put your loyalty because a lot of larger companies tend to cut easily.

Wed. Jul. 6, 2022

Interview tips/social profiles/Linkedin

I learned about the importance of having a LinkedIn profile as it's one of the first things that employers look at to gauge if they want to go forward with hiring. One very important step to having a successful LinkedIn is a great professional profile picture that shows your seriousness as well as eagerness in looking to get recruited. After that, it is important to have a headline containing your job title as well as other keywords to make it easier for recruiters to find you. Lastly, your summary should not mirror your resume but explain how you can benefit the company or the position you aiming for as well as recommendations from others preferably from past employers. Your resume is also very important as it's essentially an ad to help you sell yourself to employers with your achievements. It should be clearly formatted and depict achievements you have achieved in past jobs rather than your duties. I also learned about how to prepare for interviews and what steps to go about it. A very important aspect is to make sure to prep beforehand. Research the company, and your interviewer, have questions ready on your side which show initiative, read the job description, have your resume, cover letter, and notes ready on hand, etc. A really nice tip I learned is that after the interview whether it's a video interview or in person, to send out a thank you email 24 hours after which is a way of showing gratitude and good manners.

Tue. Jul. 5, 2022

Fundamentals to online working/benefits and drawbacks

Today I learned that one should be open to taking chances when trying to further their career and not be scared to take on challenges. Have a plan in mind, don't just go into it blindly but willingly and tactfully go into whatever it is you wish to do and take a chance in doing what you love. Also, truly enjoying what you do leads it to be a fulfilling job and not one that puts your mental health at risk. There are also negatives that come with working remotely such as being in an environment like your home, which can be too comfortable for you and lead you to slack off during work. The opposite is also true where because you have so much flexibility you can end up overworking and it can lead to burnout. There needs to be a certain level of discipline to be involved in working remotely. It is also important to have good ethics top-down from management to workers. Another factor to keep in mind is that if you are someone who manages then you should do your best to make sure your employees feel as if their work is being validated. Offer bonuses and don't skimp out on little things which add up such as wifi, condiments, facilities, and computers.