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Home Blog Page 6178

Reasons to Avoid Self Comparisons

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Anytime somebody complains about unfavourable situations in his life, or feels weighed down by circumstances around him, he is told to look around so he could see people that are worse off. People believe that the only way, or rather, the best way to show gratitude or to become content is by seeing those they are better than. But if you really look at this philosophy, you will come to agree that it does not help as people think. I will explain this later.

Another ideology and behaviour that we should avoid is comparing ourselves with more successful people. Sometimes, we feel that placing ourselves side by side with persons that are more successful than us will spur us on. Well, this is possible. In fact, it helps. But then, if it is not well thought out and handled, it will cause more problems.

The first negative effect of comparing ourselves with people is that we lose focus. A good example of this can be seen when athletes run 100 meters dash. In this type of race, every athlete has his own lane, which must be maintained till the end of the game. In order to maintain this lane, athletes have to focus only on the finishing line. Should any of them look beside him or withdraw his eyes from the finishing line to look at those before or behind him, he is bound to run into another person’s lane. Apart from facing disqualification, an athlete that jumps out of his lane is likely going to crash into a fellow runner. This is the same thing with every aspect of life. Focusing on people instead of the goal can distract us. Of course we need people to motivate us with their life’s stories and achievements, but that should not be our main spur. Likewise, we don’t have to focus on those behind us to be grateful for what we have and how far we have gone because it will draw us back or make us fall. You will see the best way to do this if you stay with me.

If we keep our gaze on people that we are better than, we will think that we have “arrived”. We will believe that we are ok with what we have achieved because we will think that we have achieved so much. We will not be bothered with finding ways to improve on ourselves. We will actually become that proverbial one-eyed man that is the king in the land of the blind. But guess what, when we find ourselves outside our comfort zones, we will get lost.

If a person focuses his attention on people he believes are more successful than him, he is going to experience a lot of negative emotions. Bet me, such a person will encounter despair, frustration, anger, anxiety, hatred, jealousy, envy, you name it. Some may find themselves in an unhealthy competition with the object of their attention. Others may believe they don’t need to worry themselves any longer because they can never measure up. There may be the risk of developing inferiority complex or desiring to terminate our “oppressor”. By the end of the day, it will pay nothing good to compare ourselves with others.

The big question now is who should we compare ourselves with?

A lot of people may ask you, “Must you compare yourself with someone?” Well, naturally, you will want to measure your progress, and the only way to do it is by comparison. If you don’t compare, you won’t know the differences. You may continue to make the same mistakes or remain stagnant if you don’t measure your progress. But then, you don’t need to look outside when measuring your progress and achievements. Just look within you and the answer will stare you back in the face.

The best person to compare yourself with is you. Like the athletes, we all have our own lanes and finishing lines. That someone is better or worse than us should not be our concern, sort of. Yes, we need successful people that can pull us up, but we don’t have to measure our progress using their yardsticks because they have theirs while we have ours. All we need to do to see how far we have gone is to compare our present selves with who we were in the past. We just have to look into our lives to see how we have been moving up or going down. If we see that we have made progress from who we were in the past, then we should express our gratitude to God and to those that helped us through. However, if we have been stagnant or moving backwards, we should then trace the reason for this and work on it. There is no way comparing ourselves with other people can bring on this milestone.

Note that I am not saying that we should ignore the successful and the yet-to-be successful people around us. Neither am I saying that we shouldn’t allow their success to motivate us. I am only saying that we should not use them as yardsticks to measure our progress.

The Deal That Catapulted Elon Musk to the Centibillionaire League

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Elon Musk

Tesla’s Elon Musk has climbed past Facebook’s Mark Zuckerberg in the billionaires chat table. The tech prodigy saw his asset value leaped to $115 billion after Tesla’s 5-1 stock split on Monday that yielded 12% surge.

Monday’s activities saw Musk secured a top three position in the league table of billionaires. He is now only poorer than Jeff Bezos, the world’s richest man with $205 billion net worth and Bill Gates, the second richest in the world with $126 billion net worth.

The year 2020 has seen Elon Musk viciously climbed the billionaires’ ladder amid the success of his business adventures, including SpaceX’s space trip.

However, his earnings have come from mainly Tesla, whose stock has risen to 1000% this year, putting the company’s worth around $475 billion.

The Making of a Centibillionaire

In 2018, Musk got Tesla’s shareholders to approve a pay package that does not involve salaries or cash bonuses. The deal means that Musk will be paid through 20.3 million stock options over the course of 10 years, in 12 equal blocks of 1.7 million options. His stock payment happens whenever Tesla achieves its operational and market value goals.

Musk qualified for the first block of stock payment on May 28, when Tesla hit a $100 billion market cap, and was paid a whopping $1.8 billion on July 10. He has received multi-billion dollars payment in stock options since May and will likely receive more before the end of the year.

Musk was worth about $32 billion in January this year, but has witnessed his net worth skyrocket by about $90 billion to get him a prominent place among centibillionaires. Musk owns about 20% of Tesla’s shares, making him the highest shareholder of the company, and putting him in a position to climb higher before the year runs out.

In addition to Tesla, Musk has been working on his space projects that consist of satellite internet and commercial trips to Mars. The Starlink satellite internet, a project geared toward providing high speed broadband internet for locations where internet access has been poor, unreliable, expensive, or not available has scaled the hurdles to success. Over 700,000 people are said to be already demanding the internet service in the US alone.

The Starlink project aims to provide satellite internet service in the Northern United States and Canada by the end of 2020, and reach as many locations as possible globally in 2021.

On his Space trips project, Musk said SpaceX is planning to start the assembly of a prototype of the Super Heavy rocket booster that will take its starship into orbit. Starship is SpaceX’s platform for the moon, mars and beyond travels, and Musk, while acknowledging the challenge, said he is working with SpaceX to see that commercial space trips become a reality in 2021.

“This is uncharted territory. Nobody’s ever made a fully reusable orbital rocket… and then having something twice the size of a Saturn V (the rocket that astronauts travel with to the moon) that’s also fully reusable… that’s really something else, that’s profound. That’s the gateway to the galaxy or at least the solar system,” he said.

SpaceX has been working on the development of Starship at its Texas site, Boca Chica. The company has raised $1.9 billion in new funding due to emerging interest in SpaceX rockets, which has surged since the successful trip of the Dragon Crew to space, and the company now has oversubscription of nearly $2 billion.

According to Forbes, the global space economy is expected to be worth at least $1.1 trillion in 2040. SpaceX’s Starship will have the capacity to accommodate 100 passengers per trip at the cost of about $50 million per seat.

Apart from SpaceX and Tesla, Musk also runs other companies called Hyperloop and OpenAI. With this great future full of business adventures, he will likely usurp Bill Gates to the second position soon.

Musk will be due to receive the third block of his stock options in the near future, CNN said if Tesla maintains a market value more than $200 billion over the course of six months, and in four consecutive quarters smash its operational and market value goals, with either revenue above $30 billion or $3 billion in earnings, before interest and taxes, Musk will amass massive wealth.

A Tekedia Capstone – Value Creation and Capturing in Nigerian Media Industry

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Our members and co-learners have started working on their Tekedia Mini-MBA capstones. Mutiu Iyanda is working on something amazing – “Value Creation and Capturing in Nigerian Media Industry: An Exploratory Analysis of Dynamic Capabilities of Online Media”. Tekedia capstone is a research paper or a case study exploring a topic, market, sector or a company.. This is his table of contents.

Tekedia Mini-MBA Edition 3

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Four months, online, self-paced management program which covers all the critical aspects of management, from strategy to innovation, branding to sales, and more, delivered by practitioners from leading glocal companies. It goes for $140 or N50k per person. REGISTER for Tekedia Mini-MBA here https://www.tekedia.com/programs .

CODE PROGRAM
MINI Tekedia Mini-MBA costs US$140 (N50,000 naira) per person.
MINR Add extra (optional) $30 or N10,000 if you want us to review and provide feedback on your labs.
Add extra (optional) $60 or N20,000 for each certificate specialty course. You must have attended, begun or about attending Tekedia Mini-MBA to qualify. The following Certificate tracks are available:
CLSM Certificate in Logistics and Supply Chain Management
CSBM Certificate in Startup and Small Business Management
CETS Certificate in Exponential Technologies and Singularity
CPCD Certificate in Personal Career Development
CPFM Certificate in Personal Finance & Wealth Management
CBIS Certificate in Business Innovation, Growth & Sustainability

Meanwhile, for all members who recently joined or those joining in the next 24 hours before we close registration for the year at midnight Tuesday, a Tekedia Live is scheduled, on Saturday, beginning 1pm Lagos time, to help bring new members up to speed. A link would be available in Week 1 Board by Thur evening.  You will get to optimal equilibrium after this session.

Bonus: get my two ebooks – The Dangote System and Africa’s Sankofa Innovation – and a cybersecurity course at Facyber.