Business

Want to be a successful business leader? Avoid this mistake

Published

9 months ago

Farwa

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.

Business

Pakistan’s gold prices are still declining; see the most recent

Published

23 hours ago

Farwa

The price of 10-gram gold reduced by Rs943 to settle at Rs207,733, while the price of gold dropped by Rs1200 to close at Rs242,300 a tola, according to the Sindh Sarafa Jewellers Association.

In the global market, the price of the precious metal fell by $10 to $2,349 per ounce, resulting in losses.

At 04:48 GMT, the spot price of gold had dropped by 0.2% to $2,354.77 per ounce. In the previous session, prices reached a two-week high.

American gold futures dropped 0.6% to $2,361.

Spot silver decreased by 0.4% to $28.03 per ounce, while palladium remained steady at $978.03 and platinum decreased by 0.1% to $992.89.

Business

Pakistan and the IMF begin talks for a new loan.

Published

24 hours ago

Farwa

Pakistan is requesting a $6 to $8 billion bailout package from the international lender over the next three to four years to address its financial troubles.

A mission team led by Nathan Porter, the IMF’s Mission Chief in Pakistan, is meeting with a Pakistani delegation led by Finance Minister Muhammad Aurangzeb.

According to sources familiar with the situation, Islamabad may face more difficult options, such as raising power and gas bills.

Mr. Aurganzeb informed the IMF team that the country’s economy has improved as a result of the IMF loan package, and Islamabad is ready to sign a new loan programme to further develop.

The IMF mission expressed satisfaction with Islamabad’s efforts to revive the country’s struggling economy.

The IMF praised Pakistan’s economic growth in its staff report earlier this week, but warned that the outlook remains challenging, with very high downside risks.

The country nearly avoided collapse last summer, and its $350 billion economy has stabilized since the end of the last IMF program, with inflation falling to roughly 17% in April from a record high of 38% last May.

Business

Petrol prices are likely to drop significantly beginning May 16.

Published

24 hours ago

Farwa

According to sources, the government is set to decrease petrol prices by Rs 14 per litre and diesel prices by Rs 10 on May 16 for the next fortnight’s revision.

Last month, the government reduced the price of fuel and high-speed diesel by Rs5.45 and Rs8.42 per fortnight, respectively.

The current fuel price is Rs288.49 per litre, while the HSD price is Rs281.96.

Meanwhile, oil prices fell further on Monday, as signs of sluggish fuel consumption and comments from U.S. Federal Reserve officials dimmed optimism for interest rate reduction, which may slow growth and reduce fuel demand in the world’s largest economy.

Brent crude prices down 25 cents, or 0.3%, to $82.54 a barrel, while US West Texas Intermediate crude futures fell 19 cents, or 0.2%, to $78.07 per barrel.

Oil prices also declined on signals of poor demand, according to ANZ analysts, as gasoline and distillate inventories in the United States increased in the week before the start of the driving season.

Refiners throughout the world are dealing with falling diesel profitability as new refineries increase supply and warm weather in the northern hemisphere and weak economic activity reduce demand.