Monday, 15 August 2016

Colombo Stock Exchange Trade Summary 15-Aug-2016

Quote for the day

"Become a possibilitarian. No matter how dark things seem to be or actually are, raise your sights and see possibilities -- always see them, for they're always there." - Norman Vincent Peale

Sunday, 14 August 2016

Science Says 92 Percent of People Don't Achieve Their Goals. Here's How the Other 8 Percent Do

If you're serious about goal-setting, here's what the high-achievers know that you may not.

Did you know that a staggering 92 percent of people that set New Year's goals never actually achieve them? That's according to research by the University of Scranton.

I've done it many times, and if you're like me -- a driven, type-A entrepreneur -- failing to meet goals can set you back and leave you discouraged and frustrated. (I even felt it as I typed that sentence.)

Here's the thing: If you want to break the cycle, do what the other 8 percent of goal-setters -- the successful ones -- do consistently and exceptionally well. 


Set goals that are specific and challenging (but not too hard).

Research by Edwin Locke and Gary Latham found that when people followed these two principles -- setting specific and challenging goals -- it led to higher performance 90 percent of the time.

Basically, the more specific and challenging your goals, the higher your motivation toward hitting them. That explains why easy or vague goals rarely get met.

Here's an example: If your goal between now and the end of the year is to, say, lose 20 pounds, that may be challenging, but it's not specific enough.

Eliminate vagueness and make it more achievable by stating it this way: During the month of August, I will lose five pounds by cutting off refined sugar, breads, and all fast food. I will also walk briskly for twenty minutes every day.

When you have that much clarity around your goal, your chances of hitting the mark increase dramatically.

On the flip side, goals that are too difficult to hit don't get met either. While it's important to challenge yourself, nobody completes a goal when he/she is overwhelmed by facing a mountain they can't climb.

If you find yourself with such a scenario, break down your BHAG (Big Hairy Audacious Goal) into smaller bites you can actually chew. Use the same process of defining specific and challenging marks to hit when mapping out the smaller goals that will lead you to your final destination.

Questions to ask yourself: How challenging is this goal for me? Am I excited about reaching this goal? Is it too easy? If so, can I make it harder without it overwhelming me? Is it too complex? If so, how can I break it into smaller parts so I don't get overwhelmed?

Be passionate about your goals and committed to the end.

Simply put, the 8 percent of goal-setters who succeed want it, and badly. So ask yourself: What is my level of commitment? Are you totally sold out for reaching your goal? When obstacles pop up along the way, will you toss in the towel?

The 8 percent have an internal compass that keeps them locked in until they reach the top of the mountain. It's a belief system of "do whatever it takes" that is intrinsically motivated at their core.

Take a quick moment and check in with yourself. If at the core of your being you don't really have the desire or passion to pursue the goal, it doesn't matter how specific, challenging, or sexy your goal may sound -- you're not going to reach it.

Questions to ask yourself: How badly do I want it? Who's holding me accountable to the end? Is my heart truly in it from the start? What's life going to look like once I complete the goal? In the end, will it be worth it?


Use a feedback cycle to track progress.


You're human -- you're bound to fall back into old habits, procrastinate, or lose motivation. To counter these things, your chances of hitting a specific goal increase greatly if you're getting frequent feedback that will keep you on track and help you to adjust accordingly.

That's why the coaching profession is booming. People who are dead serious about meeting their goals benefit tremendously from the feedback and accountability system afforded in a coaching process.

Side note: Managers who are coaches typically have an edge with employees over managers who don't coach. They get high marks by providing consistent feedback through one-one-one meetings that motivate employees toward completing goals.


Align all your goals.

The 8 percent align their short- and long-term goals toward conquering the top of the mountain. This leads to happier lives, says Jonathan Haidt in The Happiness Hypothesis: Finding Modern Truth in Ancient Wisdom:

"The psychologists Ken Sheldon and Tim Kasser have found that people who are mentally healthy and happy have a higher degree of 'vertical coherence' among their goals -- that is, higher-level (long-term) goals and lower-level (immediate) goals all fit together well so that pursuing one's short-term goals advances the pursuit of long-term goals".

Lean on trusted advisers.


Seeking out expert guidance and advice makes a big impact on achieving your goals. That's why successful people are no lone rangers. They surround themselves with mentors and advisers who will support them on their journey.

Think about three or four people you can recruit that are further down the path. Make it a monthly habit to share your goals in the context of a mastermind meeting where you can glean wisdom, insight, and advice to steer you toward your goals.

Avoid multitasking.

The most successful people are very patient and live by the motto "one step at a time." They also avoid juggling many things. You think multitasking is still a good strategy for success? Research says it's a myth and can be damaging to our brains. You end up splitting your focus over many tasks, losing focus, lowering the quality of your work and taking longer to hit your goals.

The 8 percent are smart enough to work on several smaller chunks to complete a big goal. But they do it by knocking one down then moving on to the next one.

As you break the goal down into smaller chunks, each of those chunks should have their own deadlines. Amy Morin in Forbes calls these "now deadlines":

"Even if your goal is something that will take a long time to reach -- like saving enough money for retirement -- you're more likely to take action if you have time limits in the present. Create target dates to reach your objectives. Find something you can do this week to begin taking some type of action now. For example, decide 'I will create a budget by Thursday,' or 'I will lose two pounds in seven days.'"

Bringing it home.

While you may think these successful 8 percenters are born predisposed to these talents, research says that successful people achieve their goals not simply because of who they are, but more often because of what they do.

Aristotle nailed it more than 2000 years ago when he said, "We are what we repeatedly do." By practising these skills, expect to dramatically improve your rate of finishing strong.

www.inc.com

Quote for the day

"Stay committed to your decisions, but stay flexible in your approach." - Tony Robbins

Saturday, 13 August 2016

7 Reasons Smart, Hardworking People Struggle To Find Success

Think back to when you were in high school, when things were simpler. Do you remember that person who stood out amongst the class? That person everyone thought would change the world one day? They got straight A’s on their report card and were praised all the time. People would talk about the things that person would go on to do one day.

Fast forward a decade or two to the present day. You haven’t seen anything spectacular the person has done. In fact, you haven’t heard anything at all.

What happened?

Maybe you know someone like this. Or…maybe you are that person.

I used to think that intelligence and a strong work ethic were all you needed to be successful. But it turns out that’s not always true. Both are important, but they aren’t a guarantee for success in life. A number of other factors come into play.

Here are seven reasons smart, hardworking people can’t find success:

1. They don’t reach out to new people.

Let’s face it. It’s easy to stick to people you’ve known for a long time. You know each other’s histories and can laugh at inside jokes together. However, only staying with familiar people means that the same ideas are recycled over and over again, and you don’t gain new perspectives outside your bubble.

While old friends are great to have, getting to meet new people is equally as important. It can be tough to reach out at first, but starting small can help. Aim for a low goal initially, such as introducing yourself to one new person a week. Meeting new people helps you gain insight into perspectives that might not be the same as yours.

2. They can’t adapt to new situations.

A change in environment, whether it’s a change in circumstances or events, means that there’s a sudden need to adapt. Sometimes being in the same environment for a long time means it’s hard to suddenly make the best of a different situation.

The good news is that changes are also a chance for opportunities and innovation. Instead of resisting changes, see how you can make the best of them and allow them to work for you. Be open to new concepts and stay curious about the world around you. I like to apply the Page-Turner Technique to keep myself motivated and excited to learn.

Maybe there’s a new business opportunity or a life-changing event around the corner. Learn to adapt and you’ll be more successful.

3. They don’t take calculated risks.


There are two types of risks. Blind risks, where something is done simply to seek thrill or excitement with a potentially long-term disastrous effect; and calculated risks, where there is potential loss, but the upside is great and could be life-changing.

I think we can both agree that calculated risks are what we’re aiming for.

Smart people often opt for neither, though, because they choose to follow the safe route. They might follow the same path as their peers or choose a career because it’s considered acceptable by everyone else. While there’s a degree of security in doing so, it also means that there’s less chance of achieving great success by branching out.
4. They think they deserve success because of their credentials.

People who worked hard in school frequently have an impressive alma mater, numerous achievements, and high grades. They’re used to being at the top and told about their potential.

All these things can feel good, but they also have a detrimental effect. I’ve heard people claim they deserve something because of their intelligence or where they went to school. They expect things to pan out automatically because of their credentials. Sadly, though, life doesn’t work like that.

In the real world, results matter. Getting results means that there is hard work, strategic thinking, and some luck involved. You can increase that last factor by working on the first two.

5. They always chase the next big thing.

One thing I hear often from high achievers is that they hate wasting time. Smart people are all too aware of the value of their time, as time and effort spent on one thing means that they could potentially be missing out on something else.

While this is a strong attribute, it also leads to a bad habit of chasing the next big thing and not following through. Starting out in any field or endeavor is tough, and getting through the initial obstacles requires patience.

Focusing effort on one goal yields better results in the long run rather than going after one thing, getting bored, and then going after something new.

6. They can’t commit to a decision.

Being smart and working hard can open up numerous doors. People normally see this as a good thing, but it can be as restricting as having few choices.

An abundance of choices makes it difficult to decide what to do. As a result, it’s tempting to jump around and “see what suits you”. I knew someone who attended numerous graduate school programs, one after another. Over 10 years later, she still can’t figure out what to do.

Rather than dabbling in many endeavours, I suggest testing things out first. Talk to other people and do the research before making a decision, so that you know whether or not an option suits your personality and lifestyle.

7. They don’t believe in their capabilities.

Surprisingly, smart people can underestimate their own abilities. They are their own worst critic, causing them to believe that they can’t accomplish as much as they can.

Smart people have high standards when it comes to their work. Whenever they work on a project, they tend to scrutinise and second-guess the final product. This seems like a good thing on the surface, but it’s often more debilitating than helpful. Perfectionism can hinder people from progressing in their goals or starting on anything in the first place.

So instead of letting fears of “what if” or “I’m not good enough” keep you back from something new, just try it out. Getting started beats aiming for perfect every time.
Source: www.lifehack.org

Quote for the day

"Perfection is not attainable, but if we chase perfection we can catch excellence." - Vince Lombardi