Tag Archives: entrepreneur

Mind Over Money

When I graduated in the spring of 2015, I thought I had it all figured out. I had some money saved, a job lined up and an apartment to move in to. College had been a blast, but I felt mature and ready begin my life as a real adult. I was going to succeed and it was going to be a breeze.  

Now, a year and a half later, I sit here writing my first post for my brother’s finance blog. See, I used to think this blog was dumb. I didn’t understand what BeatingBreakEven really meant and always thought my brother was wasting his time talking about money so much. But after switching jobs in June for a salary raise and signing a new lease, for rent that was $200 dollars less a month, I realize I am exactly where he was. I am broke, have no concrete plans for my future and am extremely unsure of myself.

In the past few months I have been thinking a lot about my life and who I want to be. I’ve thought about what to do next in my career, thought about what city I want to move to and thought about how to save more money. I’ve also spent a lot of time contemplating my inner motives, my deepest fears and my varying levels of self esteem. In this process of psychological discovery, I have begun to understand just how powerful our minds really are. They can be our biggest tool for success and the biggest obstacle.

I have started to experience first hand how becoming more aware of my thoughts and psychology can really help me achieve my goals. I mean don’t they say that you can achieve anything you put your mind to? Mastering your mind will not only make you a happier person, but will keep you on track to reaching your long term goals. Since many of my goals are financially based at the moment, I went through last month’s credit card statement to recount my recent purchases. Besides food, almost everything I bought was unnecessary. Nails, makeup, new shoes, drinks at the bar, etc. Practically everything on there were things I bought to feel better about myself. For many of us millennials, our credit card statements are a long list of our deepest insecurities resurfacing as impulsive spending habits. It’s actually pretty scary. Working through my insecurities and understanding the motives behind my purchases has started to help me say no to a lot of things I normally would have swiped for without thinking twice.

If we want to change our spending habits, we first have to change our thoughts. Seems simple and intuitive on the surface, but our minds are really unexplored territory for many young adults. We millennials do not spend enough time understanding our needs, wants and desires and instead, act on impulse as a way to band aid our immediate emotional challenges. We are impulsive because we do not take enough time to think and we spend because we don’t want to feel. We really need to learn how to understand our thoughts and be okay with our emotions, so we can make healthy, logical financial decisions.

Why Jake Gyllenhaal In Nightcrawler Is The Perfect Entrepreneur

Last night I decided to watch the movie Nightcrawler upon the suggestion of my friends. They were bragging that it was “a must see movie,” so I wanted to see what all the buzz was about. Overall the film was very dark and ominous. The movie revolves around a man named Lou Bloom (Jake Gyllenhaal) who is a creepy, obsessive person attempting to solidify a career as a ‘Nightcrawler’. A ‘Nightcrawler’ is someone who races to crime scenes throughout a city in order to capture first response footage of different accidents, murders, breaking news, etc. They then sell their footage to news stations and other media hubs. I don’t want to reveal  too many spoilers, but if you haven’t seen it yet, I highly recommend doing so.

Why Lou Bloom is the Perfect Entrepreneur.

Lou is curious. In the early stages of the film, Lou pulls his car over after spotting two camera men trying to capture footage of victims at the scene of a car accident. He saw this as an opportunity to explore a new career. Curiosity is an extremely valuable trait for any successful entrepreneur because it is the seeking of unanswered questions that leads to the expansion of any business idea. In this instance, Lou wanted to learn everything about what they were doing…from the equipment they were carrying to the strategy they were employing. He is eager to learn, takes action and ultimately gains useful knowledge by doing so. When you are constantly seeking out new environments and new information, you are essentially opening the doors for positive change and modifications to your business plan.

Lou is persistent. He closely approaches crime scenes with confidence and assertiveness, even though his presence tends to be unwelcomed. He also demonstrates persistence when he continually asks news correspondents about increased compensation for the novel footage he captures, even though they don’t comply. Being turned down does not stop Lou from carrying on with his business endeavors. He is persistent while remaining passionate about the success of his business, and will do whatever is necessary to assuage those around him. Passivity doesn’t fly in this fast paced world. If you want to succeed, you must show unwavering intention.

Lou is constantly learning. During one scene Lou is talking to Nina, the news executive, about a business course he took. He said the most important lesson he gained was that there is so much to learn in this world, but those that learn are the ones that look hard enough to find it. This hit me. In this day and age we have an unlimited source of information at our fingertips, but the search for the knowledge we need requires stamina and persistence. A large part of being successful is having access to the information necessary to be prepared in any situation. Whether it is the information you need for an interview, a meeting or pitching new ideas to clients. What you need is all around you, you just have to want to find it.

Lou is a negotiator. Throughout the film, Lou has to negotiate many situations. Whether it be deciding on the cost of his footage or figuring out the salary for his first employee. Althogh negotiation is a two way street, Lou never begins the process before solidifying a number in mind. He will either stick with that number or settle on a better price. His most powerful technique is the will to walk away. He was fully willing to deny his partner a spot in his company or ready to bring his footage straight to another company. He always remained confident in the worth of his company and his work. He won’t settle for less without being unrealistic. Deep down, all of us has an assessment of our capabilities. Settling for someone else’s assessment of your worth will only make you unsatisfied and unhappy. A good entrepreneur is constantly evaluating their worth and sticking to this method in everything they do.

Lou is detail oriented. He thinks and plans out everything about his company and its future, down to how he wants to be addressed to the language his employees will use when they communicate within business contexts. When Lou is negotiating with Nina, he tells her exactly how he wants to be presented with other executives of her company, and exactly how he wants to appear on Live TV. This is a tedious, but valuable characteristic of any successful entrepreneur because the little things really do matter. Details are key because even the smallest overlooked details could compromise a business’ reputation.

Lou finds his passion. Lou emphasizes the importance of finding work that adheres to his personal strengths and interests. However, he is also not quick to judge new opportunities that cross his path. Sometimes it is the random opportunities in life that can become the work that makes you the happiest. As Lou becomes a Nightcrawler, he realizes it is an occupation that he has not only become very good at, but very passionate about as well. So I want to conclude with this; it is easy to write off new opportunities for fear of the unknown, failure, etc. But you must remember to alway keep your mind open for exploration because it is those  new things that you are unsure of that might just become your next passion!

Alright, enough from me. Now go watch ‘NightCrawler.’