An investigation into all for profit institutions such as the University of Phoenix is long overdue.
If you’re young and your career is in its early days, you’ve likely been privy to plenty of career truisms and clichés.
But if “follow your passion,” “give 110%,” and “be true to yourself” just aren’t cutting it for you anymore, perhaps advice like, “don’t work too hard” and “relax” are more up your alley.
These successful people have offered some of the best — and oftentimes unconventional — advice for people in their 20s:
Warren Buffett: Exercise humility and restraint.
In a 2010 interview with Yahoo, Berkshire Hathaway chairman and CEO Warren Buffett said the best advice he ever received was from Berkshire Hathaway board-of-directors member Thomas Murphy. He told Buffett:
“Never forget Warren, you can tell a guy to go to hell tomorrow — you don’t give up the right. So just keep your mouth shut today, and see if you feel the same way tomorrow.”
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Is Lockheed Martin too big to fail? Lockheed stands atop a group of the Defense Department’s big five suppliers. Last year, its $25.3 billion in Pentagon contracts accounted for nearly 9 cents of every U.S. defense-contracting dollar spent, which includes spending on food and fuel.
The world’s biggest defense contractor just got a lot bigger. This week Lockheed Martin Corporation announced that it will buy United Technologies’ [fortune-stock symbol=”UTX”] Sikorsky unit—the maker of the U.S. Army’s Black Hawk helicopters—for roughly $9 billion, or $7.1 billion after tax benefits.
The deal solidifies Lockheed’s [fortune-stock symbol=”LMT”] place as the United States’ dominant maker of military hardware, one that already pulls in roughly $45 billion per year (the Sikorsky deal could add $6.5 billion in 2015 revenue to Lockheed’s own forecasts). The news comes amid something of a shift in the company’s center of gravity. Along with announcing a stronger-than-expected quarter and the finalization of the Sikorsky deal, Lockheed also recently revealed that it may spin off or sell its information technology and technical services businesses following a strategic review. Those units account for roughly $6 billion in estimated 2015 sales and employ more than 17,000 people.
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Below is a chart of Wisconsin colleges and universities from lowest to highest tuition cost.
Changing your environment is the easiest and most powerful way to change your behavior.
But you’re an objective, self-determined, independent, unique snowflake, you say? No, you’re not.
- Those around you affect more of your behavior than you think. Poor fitness, car purchases, lateness, having children, charitable contributions, divorce and stupidity are all contagious.
- Your environment manipulates your decision-making more than you care to know as well. You act warmer when it’s warmer and colder when it’s colder. Context rules how you eat; you consume more when plates are bigger and food is closer. When you see kindness, you are kind. What you wear affects how you act.
- Sorry to squash the idea…
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In today’s hyper-connected and transparent marketplace, brands and products arrive and depart at hypersonic speeds.
According to the 2012 Edelman Trust Barometer, For the first time, trust and transparency are just as important to a company’s reputation as the quality of their products and services. In U.S.A., these two elements stand even higher than product quality.
Cautious of fraud, scams, and scheming marketing tactics, customers are beginning to perceive the world defined by genuine or contrived. More often than not, they’re basing their buying decisions on how authentic they judge an offer to be.
Unfortunately though, many companies don’t practice trustworthiness and credibility. Alternatively, they attempt to grow their firms based what they believe customers want to hear.
But listening to prospects and customers and mindlessly responding back what they state isn’t going to earn trust or relationship capital from the customer. It is not about deceiving people with amazing commitments. Rather, it is about courageously proclaiming what you believe, and then withdrawing to observe who is attracted to your idea.
Credible brands are able to earn a loyal following; a social community, so to speak. Happy customers will share their experiences with peers and friends, and if the company stays true to its messaging and continues to deliver products and/or service that are in alignment with the customers’ hopes, it will be on the path toward building a relationship capital brand built for the long-run.
If you’re thinking of elevating your organizational culture, launching a startup or developing a brand, think of the 4 attributes of earning Relationship Capital (RC):
Take the Free Relationship Capital (RC) Test. I welcome you to take this assessment in confidence as we never share this information outside Standard of Trust.
5 Steps For Building Trust And Credibility
The following steps are by no means the only ways to build trust, credibility, and relationship capital, but they are the most important.
1. Define Your Purpose and Guiding Principles
The first step is to determine what your credibility is composed of. You will need to choose which guiding principles you are willing to commit to no matter what. If you commit to the open standard principles of Relationship Capital (RC), they are the following:
Your ability to embed this relationship capital guiding principles into your company’s purpose will be an effective way in earning and building relationship capital with your stakeholders that will sustain long-term distinction.
For example, the Purpose of the Standard of Trust Group is:
To make a difference to business organizations and their stakeholder relationships through the capture, measurement, and utilization of open standards of relationship capital. To assist business leaders and their organizations to compete by out-behaving the competition.
Let me “Warn” you. Do not make superficial commitments to the relationship capital guiding principles or other principles you may select. Inauthentic behavior will be found out by the social and digitally connected tribe and your reputation and credibility will be damaged
2. Determine How You Will Demonstrate Authenticity
Look for the moments to demonstrate your authenticity. Whether it’s online with social media or your LinkedIn blog, or in offline interactions with others, take the time to learn and understand your audience and permit to learn and understand you too.
3. Be Open
How far would you go to show your authenticity and credibility? Decide how you will demonstrate your guiding principles and how open you want to be. Then make a plan of action for showcasing this openness.
4. Be Consistent
Keep your communications consistent. The messages that you’re sending out through marketing, promotions and social media should be in alignment with the offline experience that you provide to customers.
5. Prepare For Resistance
Finally, get ready for the resistance. When you build a certain level of awareness, you’re going to get people who oppose. Don’t let this dishearten you or sidetrack you from your guiding principles and purpose. Stay committed to your principles, and you will earn respect (and relationship capital) from the people around you. Your loyal and customers, employees, partners, and brand ambassadors will defend and support you.
Whether a business leader, entrepreneur or startup, committing your authentic self is about being true to your guiding principles and fulfilling your stated commitments to your stakeholders (customers, employees, or partners).
Leading with authenticity is not for everyone, but those who decide to utilize this as the foundation for establishing or nurturing a relationship capital business or a relationship capital brand will learn that building a company based on purpose, performance, and relationship capital will provide sustainability despite the accelerating changes that may come in the future.
By Robert Peters
Sources: Standard of Trust: Leadership