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A Businessman Who Brings an Athlete’s Edge to Making Deals: The Mindset of Success

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If you want to be successful in life, you’ve got to have a winning mentality. Truth be told, the road to success is never a smooth one, but it begins with a person’s willingness to win. Before you strive to achieve anything in life–  a career, a marriage, a new health regimen, or a business, you must make up your mind to succeed.

A lot of people lack the discipline, grit, and the dedication needed to achieve the success they want. The majority of people think the success of others is good luck or perhaps was easier than the things that stopped them. That incredible talent they were gifted with is why they stand alone in their field. Almost all of these people have stories of huge setbacks with errors in judgment, bad luck, taking bad advice that nearly bankrupts them (or actually did bankrupt them) but they didn’t let it stop them.  

Few people know that Dwayne “The Rock” Johnson failed at his dream of being a professional football player–he wasn’t drafted by the NFL after college, but made it onto a professional Canadian team only to be cut after one season, Lady Gaga was bullied throughout school and told she would never be a star, teachers at NYU said her voice wasn’t good enough to sing professionally, and just when she thought she had made it, Def Jam dropped her from their label after three months. There is something for all of us to learn in these examples… would you believe Steven Spielberg was rejected by three (3) film schools? JK Rowling’s first Harry Potter novel was rejected by 12 different publishers before she sold it. Walt Disney was fired from a job at a newspaper because he “lacked imagination” and, as my grandfather was always fond of telling me, Abraham Lincoln lost eight out of 10 elections, failed in business, had a nervous breakdown, all before running for President and winning. It’s incredible what people can do when they are determined to succeed.  

The Athlete’s Mindset

Being an athlete comes with several things that work well in business. A tenacity for competition, the ability to be part of a team, raw talent, and hard work. We interviewed Thaddaeus Koroma, a successful “business accelerator to the stars” to discuss how he successfully transferred the athlete’s mindset to the business world after suffering a series of injuries that ended his basketball career. 

Koroma, President of Limit Breakers (limitbreakers.com) has been very successful after he shifted his love and commitment to basketball into curating profitable and sustainable businesses for top athletes and celebrities. 

A series of injuries ended my professional career but it became the foundation of my success today. I love basketball because I learned how to push myself and build discipline. I see it now as the ideal training ground for what I am meant to do in the world… build businesses.” 

With offices around the world, Thaddaeus, along with his partner (and cousin) Patrick Sesay, and the combined efforts of their team, leverage the assets and influence of world-class athletes, actors and artists to create unique and lucrative ventures. Often bringing multiple clients together to create new partnerships and leverage their reach to generate revenue streams beyond their current paycheck before their time in the spotlight ends.

Proceed as if success is inevitable. If you don’t, you won’t succeed.  I have seen athletes and entrepreneurs with incredible genius far superior to the people at the top, but they fail because they don’t have the mindset to win. They don’t make the necessary adjustments, keep taking action which is needed in business. When I first started my company, I went full speed. People would ask how long I had been an entrepreneur and I would say ‘a few months’ without blinking,” Koroma says.

Get Ready For Opportunity

No matter how small or large your wins are, always celebrate them. However, don’t assume that you’ll arrive at your goals by hard work alone. Be ready to grab the next opportunity that comes your way. Don’t lose focus on the horizon after you have success. The next opportunity could be where your business grows exponentially. You can have talent, resources, and connections, but when you lack the mental dexterity and passion to look at obstacles as learning experiences for greater success, failure is right around the corner. 

As in sports, you need a team and community bigger than you. Many people think they have to do it all. This is limiting your success and wasting time. You’ve got to take action, and work hard, but no athlete is ever a superstar without a strong team and great leadership. 

As we learned more about Koroma’s past, we learned he had this propensity to find a way to succeed at a young age. Koroma was able to prepare and position himself for a scholarship opportunity away from where he grew up in Germany. He practiced hard, but knew that he wasn’t going to get success without being around great players. 

“I was trying to find a way to get to the US. I had no money, nothing. Then one day, I found an outlet for someone telling me there’s something happening. If you get a GPA of 4.0, you can get scholarships to go to the US and play basketball with the best of the best. So I just became better at school. And not long after, I had a 4.0. But not because I was interested in school, it was just a means to an end.” Koroma claims.’

Bounce Back

Rejection and failure are non-negotiable in business. At times, everything may take a downturn and you start feeling like all hope is lost. Remember, we’ve all failed at things, lost money, didn’t get the girl, etc. at some point in our lives. Failures of any kind don’t mean anything. It’s what you do next that will define your path. 

Just like in sports, if you prove resilient, adjust, and keep your head high above stormy waters, you’re bound to become better. “People laughed at me when I told them I’ll go pro but it never deterred me. I found mentors and learned from those who understood the game better than me,”  Koroma says.

Is this a perfect process? No. Can you also grip the dream you are going after too tight?  Koroma is open about not letting go when he should’ve, “I’ll be honest, it took me a long time to let go of basketball.  The other side of this drive is that I didn’t listen to the doctors, my family, concerned friends when they said to stop playing.  I knew I could beat the odds if I wanted it enough.  After the pain was too much to bear, I stopped. I was depressed but willed myself to stay open to new opportunities. Years later, I came to understand that I was still using what I had built within myself with basketball.”

Don’t Make It “About You” or get Fixated on the outcome

“If you are only thinking about your own success, you are thinking too small. Make it more about other people. One way I find meaning and purpose everyday is to make other people’s lives better.”

One of the things that drives Koroma in business, he shares, is also his non-profit—Garden of Eden (gardenedenglobal.org). Similar to Limitbreakers, it combines people from different backgrounds to become a team that nurtures and provides a safe upbringing for orphaned children around the world. This organization identifies established nonprofits that help children in underdeveloped countries and brings to them new resources that bolster their infrastructure and expand their reach.

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Multiple Respected Wall Street Banks are Forecasting a Stock Crash in 2023

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Multiple Respected Wall Street Banks are Forecasting a Stock Crash in 2023

Wall Street stock analysts are expecting a significant decline in 2023, as three top banks have predicted that the US stock market could fall by more than 20 percent next year. The S&P 500 stock index has declined 13% since October, but it has recently recovered and is back to 4000.

Large banks are under the impression that the recent stock market rise was only temporary and will not last long. For an extended time, stocks on Wall Street have been slumping because many investors are anxious about the potential for a recession in the near future. 

As 2023 goes on, there will be a lot of ups and downs with stocks as earnings take a hit from the recession. According to Morgan Stanley, based in New York, the S&P 500 index could drop 24% within the first four months of 2023. This would put the stock index between 3,000 and 3,300. According to Mike Wilson, chief US equity strategist at Morgan Stanley, the bear market is not over, and 2023 will be a volatile year with lots of ups and downs.

Similarly, according to Bank of America, if the current trend continues, stocks in the S&P 500 could drop by 24% and fall to 3000. The main reason for the crash would be lower business and consumer spending impacting corporate earnings adversely. Additionally, the bank is predicting that the US economy will have a 0.4% drop in growth during the first quarter of next year. The Federal Reserve’s quantitative tightening policies might also dry up market liquidity by cutting back $95 billion in Treasury bonds and mortgage-backed securities from its $9 trillion balance sheet each month.

Deutsche Bank predicts that US stocks will fall by over 25% in the third quarter of the next financial year, contrary to the predictions made by Morgan Stanley and Bank of America. The team also predicts that stock prices will rebound by 2023, provided the recession doesn’t continue for more than a few quarters. Deutsche Bank’s 2023 outlook claims that the global capital market will experience a significant decrease in value due to increasing interest rates from the Federal Reserve, which will, as a result, slow down the US economy.

The American Federal Reserve was obliged to lift interest rates when high inflation surfaced as a consequence of spiking oil prices. Increasing rates, this action works to quell inflation overall.

Rising interest rates decrease cash flow in the economy, which then lowers commodity demand and, finally, inflation. However, a primary drawback of increasing interest rates is that it might lead to an economic recession in which people don’t spend money on necessities. When people spend less money, companies make less profit. This usually causes the stock market to react negatively.

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DoorDash is Abruptly Firing 1,250 Corporate Employees

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DoorDash is Abruptly Firing 1,250 Corporate Employees

One more tech company’s name has been attached to the string of tech companies that have announced mass layoffs.

DoorDash is cutting approximately 1,250 jobs and has joined the list of well-known tech companies’ most recent examples of cost-cutting. Tony Xu, CEO of DoorDash, wrote in a note to employees that the company had accelerated its hiring during the COVID-19 pandemic to keep up with its growth. He said that as of early 2020, DoorDash was undersized for its needs. Though DoorDash has succeeded in many areas, “we were too lax in our management of team growth,” according to Xu. He takes responsibility for this lack of foresight, which caused operating expenses to rise quickly.

Xu noted that DoorDash has held up better than other e-commerce businesses. DoorDash has seen a significant increase in its market share for food delivery, according to third-party data. As of September, DoorDash accounted for 56 percent of sales in the industry. However, rising interest rates and recessionary fears pose a risk to DoorDash’s business model.

The company’s growth has decreased, and if DoorDash doesn’t cut costs, its operating expenses will exceed its revenue, according to company CEO Xu. The layoffs announced today affect around six percent of the company’s workforce.

DoorDash is giving laid-off employees 17 weeks of severance pay and a stock vest that will come in February 2023. In addition to that, health benefits will cease at the end of March, but COBRA coverage will be accessible for up to 18 months. Xu noted that DoorDash would set 1st March as the employment termination date. So, immigrant workers in the US on visas will get more time to find another job. Not only this, but DoorDash says it will offer recruiting support.

Last month, Lyft stated that it would be firing about 700 employees, representing a 13 percent workforce reduction. Other large tech companies that have conducted similar mass layoffs in recent months include Twitter, Meta, Roku, Peloton, Amazon, and Snap.

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Now, You Can Buy a VanLife-Ready Transit Directly From the Ford Factory

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Now, You Can Buy a VanLife-Ready Transit Directly From the Ford Factory

The 2023 Ford Transit Trail is perfect for anyone who loves to explore and have new experiences.

The most significant challenge to using a van for long-distance excursions is the preparation. Most vehicles aren’t designed to accommodate extensive interior changes, like refrigerators, beds, and lighting fixtures–requiring many hours of custom work. However, Ford’s new Transit vans come prepped from the factory to accept popular VanLife modifications.

If you’re someone who loves adventure, then you’ll need a vehicle that can keep up with your lifestyle– enter the 2023 Transit Trail. This van is available in medium- and high-roof cargo configurations, providing ample space for all of your gear. The most spacious configuration offers 487 cubic feet of space, meaning there’s plenty of room to customize it to fit your needs. Plus, it has enough standing room for people six feet five inches tall and 14 feet of floor space in the cavernous cargo area.

This vehicle has been designed with convenience in mind- there are areas specifically for things like shelves, cabinets, and a bed. Buyers also have the option of an Upfitter package, which adds an exterior light bar, a larger center console, dual AGM batteries, and heavy-duty switches and electronics to make it easier to power accessories.

Not only has the inside been fixed up, but this Transit has also been built to handle tough adventures. It has a 3.5-liter turbocharged EcoBoost V-6 engine that makes 310 hp and 400 lb-ft of torque. This means it can go fast and carry a lot. The power goes to all four wheels through a 10-speed automatic transmission. The Transit has also increased its ride height by 3.5 inches for more ground clearance while keeping the 30-inch Goodyear Wranglers that guarantee you won’t get stuck anywhere. The 6500-pound towing capacity will come in handy when needing to tow a car or use it as your home away from home on race weekends.

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