Like for any other person, learning new skills for an entrepreneur is very important as the current world is extremely dynamic, so constantly improving oneself is a must today. At the same time, in business, internationalization becomes a trend, so all skills related to that become extremely valuable. And one of such skills is a new language, of course. There’s a vast number of arguments and facts, both scientific and non-scientific, in the favor of learning a new language for anyone. Yet, this skill might become vital for the entrepreneurs within a few years to come, and here are some of the reasons.
The Role of Languages for Entrepreneurs
Just like the world today, entrepreneurs are very dynamic people that never stop learning and keep exploring new horizons. Learning languages might be especially useful to the entrepreneurs as it largely stimulates the brain to work faster and distribute the concentration when performing numerous tasks at the same time. Yet, these are only the most considerable reasons for an entrepreneur to learn at least one more language. Here are ten other reasons to learn languages if you’re considering starting your own business.
- Thinking outside of the box. As you learn a new language, familiar things are viewed from a different perspective. Such perspectives might seem like minor details, but they play a huge role on a bigger scale. As you learn to perceive the things you know from the perspective of another language, it becomes much easier to look at anything differently.
- Improved communication skills. Now when you’re able to look at things from a different perspective, you can communicate your thoughts and ideas based on how your partner might perceive those thoughts and ideas. Basically, you are able to step into your communication partner’s shoes and hear what you’re saying from his or her standpoint.
- Traveling made easier. While learning, you can travel much easier as you’ll unlikely stumble upon such a thing as a language barrier, which is still relevant today. You might get yourself lost in translation only in very exclusive cases when you travel to a very isolated area where a very specific dialect is spoken. Otherwise, you’ll be able to travel to a new country easily as soon as you learn a new language. This is especially important for entrepreneurs who want to go international.
- Fewer problems with travel documents. It might be easier to communicate with people on the streets in the country you travel to as you learn a new language. But remember that you first must enter this country before you can even do that. That’s when you have to understand the essentials of traveling documents. Even if you work with some of the best document translation services over here, you might still need to know what’s there in your papers. So, learning a new language might be of vital importance.
- Use more learning materials. Learning languages is important, yet, there are many other skills for an entrepreneur to master. But not all of the materials to help you do that might be available in your native language. So, learning a new language can and should also be done for the learning’s sake itself.
- Improved decision-making. Like it was said before, learning a new language allows you to look at things from a new perspective. For you as an entrepreneur, this also means that you can think certain decisions over from that different perspective, which might be more efficient in the end.
- Learning on the go. As you expand your business into a country that uses the language you’re familiar with, you can learn from the experiences of other businesses in this country. For example, you can learn how the media communicate something new on the market and do something similar to yourself, thus, becoming more successful with your marketing campaign.
- Swifter thinking. Again, when you decide to go internationally, you might find yourself doing that along with your competitors. As you’re more familiar with the language of the country you plan to enter, you’re having a huge heads-up before the competitors that don’t speak that language. The competition becomes simpler for you as you become the first one to get a more sufficient idea for your business.
- Reputation boost. You will certainly look like a person who can make some considerable effort and learn a new skill, which is never an easy feat. At the same time, if you show that you can communicate with your customers in their language, you will gain their attention and praise as a business that respects other cultures.
- Finally, because why not? There’s so much to do in the world, so why not make learning a new language one of such things? You never know what might get handy for you at any given moment. Considering that learning a new language is a very useful skill on its own, it will very likely become a handy skill to you as an entrepreneur.
See the World and Speak to It
As you steadily improve personally and as a professional over time, you might find yourself being able to learn and master nearly anything that comes in your way. And confidence is a very important factor in human success. Lots of people fail simply because they are too shy and doubting to try. You, on the other hand, are open to all the opportunities the world can offer you when you set yourself to constantly learn and progress with this ever-changing and rapidly moving world.
Should You Be Worried About A Coming Bitcoin Crash?
Do you already have a wallet full of Bitcoin and are worried about them losing value in a crash like what happened three years ago? Or, are you afraid to open a Bitcoin account today as you don’t want to buy before a crash, either?
Both of those fears are valid, but you may have nothing to worry about. There are a few factors that go into crashes that can usually be seen ahead of time. Of course, nobody can make an accurate prediction based on what has happened in the past because sometimes a wildcard comes into play that nobody could have seen coming.
Should you be worried then? In this article, we are going to take a look at what is different with Bitcoin this time around so you can decide for yourself if this is a good time to buy in.
Why Bitcoin is worth so much right now
Bitcoin has always promised to one day become a global currency that would be adopted by the masses. After the crash of 2018 when Bitcoin lost almost ⅔ of its value in a matter of weeks, it looked like its promise would go unfulfilled.
At that time the people buying in were basing their decision more on the fear of missing out than on actually believing in the cryptocurrency as a mainstream currency that could be used instead of fiat.
At that time you could pay for things using Bitcoin, but because the value kept growing, nobody wanted to part with their Bitcoins.
Now, it has become far more mainstream with a couple of big factors leading the way. For one, many big institutions were buying the currency and even some stores and businesses would accept it as a form of payment. There were more signs of it becoming a viable currency in the year or so after the crash.
Then, more recently, Paypal announced that they would start offering the service for people to buy some cryptocurrency with their Paypal account. This validated the currency in the eyes of many as they trusted Paypal for years already. It suddenly became very easy for people to acquire Bitcoin where before the process may have been intimidating.
Then, Elon Musk announced that Tesla had bought over a billion dollars worth of Bitcoin and that it could be used to buy their cars. This also served as validation and the value jumped very high after the news.
Will it continue to rise?
Anything that goes up must come down, so, yes it will continue to rise but will one day either dip or crash. It is inevitable.
What’s different this time around is that more people are using it for its intended purpose and that is to pay for things. It is finally being adopted. And, if history is a guide, then it will bounce back after any crash and then rise again. Maybe even higher than ever if there is more adoption by the masses.
*This article has been contributed on behalf of Paxful. However, the information provided herein is not and is not intended to be, investment, financial, or other advice.
Credit to Small Firms to Boost Economic Recovery
The Lao PDR Ministry of Industry and Commerce today launched a $40 million emergency finance support project, backed by the World Bank, to help small and medium-sized businesses recover from the economic slowdown associated with the COVID-19 pandemic. The project was approved by the World Bank Board of Directors in October 2020 and signed by the government in November.
Mme Khemmani Pholsena, Minister for Industry and Commerce, declared the Micro, Small, and Medium Enterprise (MSME) Access to Finance Emergency Support and Recovery Project operational, enabling local banks and financial institutions to provide loans to small businesses that have been affected by closed borders and reduced trade over the past year. According to the Lao Statistics Bureau, over 94% of all Lao enterprises are microbusinesses.
Three banks — Lao-China, Maruhan, and Sacom — have been selected to participate in the project to lend funds to small companies that apply for loans through Line of Credit. The project is providing technical support to the Bank of the Lao PDR, which is managing a credit guarantee facility, and technical assistance to strengthen the capacity of participating businesses. More financial institutions are expected to join the project once negotiations on terms of lending are complete.
“This initiative will reinforce the stability of small businesses, which are vital to the Lao economy”, said World Bank Lao PDR Operations Manager Viengsamay Srithirath. “By making it easier for small firms to access credit, the government and banks are removing one of the top three obstacles to business in Laos”.
Ms Viengsamay congratulated the Ministry of Industry and Commerce for the speedy preparation of the project during a time of economic difficulty, and said its execution would build on the success of the World Bank’s Small and Medium Enterprise Access to Finance Project, which closed at the end of 2020 after disbursing around 180 loans to small Lao companies.
Beginner’s Basic Guide In Bitcoin Trading
Non-fiat currencies are paving the way, and widening the horizon, might we add, in securing a future founded on the independent non-fiat currency. As you learn about BTC trading accounts, here are a few steps you can follow in bitcoin trading.
Bitcoin Trading Reviewed
Bitcoin trading, as the phrase suggests, is the exchange of bitcoins, from one user to the next. Or to a number of users at any given time. To oversimplify it, it is similar to how conventional trading works. Only, there is no commodity nor “hard money” in the mix. Bitcoins are themselves, the article to and for the exchange.
Understanding Bitcoin Trading
The first thing traders need to have an understanding of is how the price of bitcoins is set. Where does it come from? Is it fixed?
Since we know that cryptocurrencies do not rely on financial institutions, global currencies, or economic movements, we can conclude that they are not vulnerable to governments and economies. The pricing of bitcoin comes from…
There are over 21 million bitcoins all over the world today. Out of this 21 million, around 18.5 million have already been mined. This means that new players in the bitcoin scene will be given a limited amount of 2.5 million left to mine for themselves. Keep in mind that this is a global sum. Once all 21 million have been mined, there will none left in the circulation.
Bitcoin mining is basically a process in which said cryptocurrency (as owned by each user) is put into motion and is made available for trading. More about this, and in detail, on a separate post.
Analysts speculate that the entire supply of this cryptocurrency will be used up come the year 2041. What does this have to do with bitcoin pricing? To put this into perspective, think of the law of supply and demand.
When “supply” decreases and “demand” increases, pricing will be hiked up. And the less supply there is, the higher the skyrocketing of the price will go. Something bitcoin users and traders are already witnessing at present.
***You may be inclined to think that 2041 is two decades away. 20 long years to go. Only, take into consideration that the bitcoin was invented in 2009. And now, less than 10% of its total number remains!
As of current, there are a limited number of channels wherein bitcoins can be utilized for the exchange of commodities and/or services. In the context of integration, we are leaving out “bitcoin exchange” and/or “bitcoin purchasing” out of the picture.
Cryptocurrency is yet to make a stamp in the market as a viable means for supporting daily living. Relying on bitcoins to buy everyday-goods, easily converting them into their actual real-life prices to be stored and or transferred from bank to bank. The list goes on.
All eyes are on non-fiat currencies, especially because worldwide catastrophes have shaken people so that many are scouting for options to secure their financial futures. Bitcoin, being one of the said major options, and the highest of its kind, in-rank.
Remember the year we mentioned earlier? 2041? It is most certainly likely that bitcoin integration will take place any moment, even before that year hits. When the world begins to notice its integration, they will want to buy in.
This, then, ties in with number 2. The more people to buy-in, the higher the price of bitcoins will soar.
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