Connect with us

Business

Want to be a successful business leader? Avoid this mistake

Published

1 year ago

on

Hey there, aspiring entrepreneurs! If you’re dreaming of launching your own business, listen up. We’ve got some invaluable advice from Alexa von Tobel, the mastermind behind the successful online financial advisor LearnVest, which she sold for a jaw-dropping $375 million. 

The number one lesson she shares with CNBC  Make It is that confidence is crucial, but being overly confident could spell disaster for your startup.

Imagine this. You’ve come up with a groundbreaking business idea, you’re raring to go, and the world seems to be applauding your genius. But according to von Tobel, here’s the catch – don’t let the initial success get to your head. She insists that truly triumphant business builders are never blind to potential pitfalls; they maintain a “healthy paranoia” about their ventures.

Back in the day, von Tobel took a bold leap, leaving Harvard in the aftermath of the 2008 financial crisis to launch LearnVest. Even when her creation attracted a flood of eager users on day one, causing a temporary website crash, she kept her feet on the ground. The lesson? Executing a business plan isn’t a walk in the park – it’s more like a steep climb. Initial wins are splendid, but they’re just the start; if you relax too soon, you risk losing it all.

Here’s the thing – overconfidence isn’t your ally. Research shows that budding entrepreneurs often fall into this trap, and it’s no wonder, given the slim odds of startup success. Overconfidence can trigger reckless decisions, and that can be the downfall of your dream.

Von Tobel’s story is different. She didn’t get carried away by the early triumphs of LearnVest. Instead, she pursued a steady path of growth, leading the company to gather a whopping 1.5 million users within seven years. This remarkable feat eventually caught the attention of Northwestern Mutual, who snapped up LearnVest for a staggering $375 million in 2015.

But don’t think for a second that maintaining a “healthy paranoia” means living in fear or shunning your achievements. Von Tobel isn’t saying that. She’s all about working smart and hard, making sound decisions day after day, for a decade. That, she claims, is the key to building a truly successful venture.

So, remember this. Confidence is your ally, but overconfidence is the villain that can sink your ship. Stay vigilant, work diligently, and build your success brick by brick. 

Alexa von Tobel’s journey from Harvard dropout to multimillion-dollar success story proves that a blend of confidence and caution can indeed make all the difference.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

In interbank trade, the Pakistani rupee beats the US dollar.

Published

6 days ago

on

By

In the international exchange market, the US dollar has continued to weaken in relation to the Pakistani rupee.

The dollar fell to Rs278.10 from Rs278.17 at the beginning of interbank trading, according to currency dealers, a seven paisa loss.

In the meantime, there was a lot of turbulence in the stock market, but it recovered and moved into the positive zone. The KSE-100 index recovered momentum and reached 116,000 points after soaring 1,300 points.

Both currency and stock market swings, according to analysts, are a reflection of ongoing market adjustments and economic uncertainty.

Continue Reading

Business

Phase II of CPEC: China-Pakistan Partnership Enters a New Era

Published

1 week ago

on

By

The cornerstone of economic cooperation between the two brothers and all-weather friends is still the China-Pakistan Economic Corridor, the initiative’s flagship project.

In contrast to reports of a slowdown, recent events indicate a renewed vigour and strategic emphasis on pushing the second phase of CPEC, known as CPEC Phase-2, according to the Ministry of Planning, Development, and Special Initiatives.

According to the statement, this crucial stage seeks to reshape the foundation of bilateral ties via increased cooperation, cutting-edge technology transfer, and revolutionary socioeconomic initiatives.

Planning Minister Ahsan Iqbal is leading Pakistan’s participation in a number of high-profile gatherings in China, such as the 3rd Forum on China-Indian Ocean Region Development Cooperation in Kunming and the High-Level Seminar on CPEC-2 in Beijing.

His involvement demonstrates Pakistan’s commitment to reviving CPEC, resolving outstanding concerns, and developing a strong phase-2 roadmap that considers both countries’ long-term prosperity.

At the core of these interactions is China’s steadfast determination to turn CPEC into a strategic alliance that promotes development, progress, and connectivity.

Instead of being marginalised, CPEC is developing into a multifaceted framework with five main thematic corridors: the Opening-Up/Regional Connectivity Corridor, the Innovation Corridor, the Green Corridor, the Growth Corridor, and the Livelihood-Enhancing Corridor.

With the help of projects like these, the two countries will fortify their partnership, and CPEC phase-2 will become a model of global economic integration and collaboration that benefits not just China and Pakistan but the entire region.

Continue Reading

Business

The inflation rate in Pakistan dropped to its lowest level.

Published

1 week ago

on

By

On December 2, core inflation as determined by the Consumer Price Index (CPI) significantly slowed, falling to 4.9% in November 2024 from 7.2 percent in October 2024.

The CPI-based inflation rate for the same month last year (November 2023) was 29.2%, according to PBS data.

Compared to a 1.2% gain in the prior month, it increased by 0.5% month over month in November 2024.

Continue Reading

Trending