How I Turned $5,000 Into $2.6 Billion

How I Turned ,000 Into .6 Billion

How I Turned $5,000 Into $2.6 Billion

Paul Orfalea is the founder of Kinkos which sold to FedEx for $2.6 Billion in 2004. In this interview I ask him: 1) how he turned a $5000 investment into a $2.6 Billion company, 2) what it’s like living the billionaire lifestyle and 3) his business advice to entrepreneurs getting started out.

[embedyt] https://www.youtube.com/watch?v=uDeNOa6tiWc[/embedyt]

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  1. var TRINITY_TTS_WP_CONFIG = {“cleanText”:”How to unlock your creativity u2013 even if you see yourself as a conventional thinker. People engage in creative thinking every day, whether they realize it or not.rnEkaterina Chizhevskaya/iStock via Getty ImagesrnLily Zhu, Washington State UniversityrnHow to unlock your creativity u2013 even if you see yourself as a conventional thinkerrnDo you think that creativity is an innate gift? Think again.rnrnMany people believe that creative thinking is difficult u2013 that the ability to come up with ideas in novel and interesting ways graces only some talented individuals and not most others.rnrnThe media often portrays creatives as those with quirky personalities and unique talent. Researchers have also identified numerous personality traits that are associated with creativity, such as openness to new experiences, ideas and perspectives.rnrnTogether, they seem to paint a dire picture for those who consider themselves conventional thinkers, as well as those who do not work in creative occupations u2013 including roles that are often considered traditional and noncreative, such as accountants and data analysts.rnrnThese beliefs miss a key part of how creativity actually works in your brain: Creative thinking is actually something you engage in every day, whether you realize it or not.rnrnMoreover, creativity is a skill that can be strengthened. This matters even for people who donu2019t consider themselves creative or who arenu2019t in creative fields.rnrnIn research that I recently published with organization and management scholars Chris Bauman and Maia Young, we found that simply reinterpreting a frustrating situation can enhance the creativity of conventional thinkers.rnUsing creative thinking to cope with emotionsrnCreativity is often defined as the generation of ideas or insights that are novel and useful. That is, creative thoughts are original and unexpected, but also feasible and useful.rnrnEveryday examples of creativity are plentiful: combining leftover food to make a tasty new dish, coming up with a new way to accomplish chores, mixing old outfits to create a new look.rnrnAnother way you do this is when you practice whatu2019s called u201cemotional reappraisalu201d u2013 viewing a situation through another lens to change your feelings. There is actually an element of creativity to this: Youu2019re breaking away from your existing perspectives and assumptions and coming up with a new way of thinking.rnrnSay youu2019re frustrated about a parking ticket. To alleviate the bad feelings, you can think of the fine as a learning moment.rnrnIf youu2019re anxious about a presentation for work, you can cope with the anxiety by framing it as an opportunity to share ideas, rather than as a high-stakes performance that could result in demotion if handled poorly.rnrnAnd if youu2019re angry that someone seemed unnecessarily combative in a conversation, you might reevaluate the situation, coming to view the behavior as unintentional rather than malicious.rnTraining your creative musclesrnTo test the link between creative thinking and emotional reappraisal, we surveyed 279 people. Those who ranked higher on creativity tended to reappraise emotional events more often in their daily life.rnrnInspired by the link between emotional reappraisal and creative thinking, we wanted to see whether we could use this insight to develop ways to help people be more creative. In other words, could emotional reappraisal be practiced by people in order to train their creative muscles?rnrnWe ran two experiments in which two new samples of participants u2013 512 in total u2013 encountered scenarios designed to provoke an emotional response. We tasked them with using one of three approaches to manage their emotions. We told some participants to suppress their emotional response, others to think about something else to distract themselves and the last group to reappraise the situation by looking at it through a different lens. Some participants were also given no instructions on how to manage their feelings.rnrnIn a seemingly unrelated task that followed, we asked the participants to come up with creative ideas to solve a problem at work.rnrnIn the experiments, conventional thinkers who tried reappraisal came up with ideas that were more creative than other conventional thinkers who used suppression, distraction or received no instructions at all.rnCultivating flexible thinkingrnNegative emotions are inevitable in work and life. Yet people often hide their negative feelings from others, or use distraction to avoid thinking about their frustrations.rnrnOur findings have implications for how managers can think about how to best leverage the skills of their workers. Managers commonly slot job candidates into creative and noncreative jobs based on cues that signal creative potential. Not only are these cues shaky predictors of performance, but this hiring practice may also limit managersu2019 access to employees whose knowledge and experience can play major roles in generating creative outcomes.rnrnThe result is that the creative potential of a significant part of the workforce may be underutilized. Our findings suggest that supervisors can develop training and interventions to cultivate creativity in their employees u2013 even for those who might not seem predisposed to creativity.rnrnOur research also indicates that people can practice flexible thinking every day when they experience negative emotions. Although people may not always have control over the external circumstances, they do have the liberty to choose how to cope with emotional situations u2013 and they can do so in ways that facilitate their productivity and well-being.rnrnLily Zhu, Assistant Professor of Management, Information Systems and Entrepreneurship, Washington State UniversityrnrnThis article is republished from The Conversation under a Creative Commons license. Read the original article.rnrnu00a0rnHow I Turned $5,000 Into $2.6 Billionrnu00a0″,”pluginVersion”:”5.3.8″};

    Share This () People engage in creative thinking every day, whether they realize it or not.
    Ekaterina Chizhevskaya/iStock via Getty Images
    Lily Zhu, Washington State University
    How to unlock your creativity – even if you see yourself as a conventional thinker
    Do you think that creativity is an innate gift? Think again.
    Many people believe that creative thinking is difficult – that the ability to come up with ideas in novel and interesting ways graces only some talented individuals and not most others.
    The media often portrays creatives as those with quirky personalities and unique talent. Researchers have also identified numerous personality traits that are associated with creativity, such as openness to new experiences, ideas and perspectives.
    Together, they seem to paint a dire picture for those who consider themselves conventional thinkers, as well as those who do not work in creative occupations – including roles that are often considered traditional and noncreative, such as accountants and data analysts.
    These beliefs miss a key part of how creativity actually works in your brain: Creative thinking is actually something you engage in every day, whether you realize it or not.
    Moreover, creativity is a skill that can be strengthened. This matters even for people who don’t consider themselves creative or who aren’t in creative fields.
    In research that I recently published with organization and management scholars Chris Bauman and Maia Young, we found that simply reinterpreting a frustrating situation can enhance the creativity of conventional thinkers.
    Using creative thinking to cope with emotions
    Creativity is often defined as the generation of ideas or insights that are novel and useful. That is, creative thoughts are original and unexpected, but also feasible and useful.
    Everyday examples of creativity are plentiful: combining leftover food to make a tasty new dish, coming up with a new way to accomplish chores, mixing old outfits to create a new look.
    Another way you do this is when you practice what’s called “emotional reappraisal” – viewing a situation through another lens to change your feelings. There is actually an element of creativity to this: You’re breaking away from your existing perspectives and assumptions and coming up with a new way of thinking.
    Say you’re frustrated about a parking ticket. To alleviate the bad feelings, you can think of the fine as a learning moment.
    If you’re anxious about a presentation for work, you can cope with the anxiety by framing it as an opportunity to share ideas, rather than as a high-stakes performance that could result in demotion if handled poorly.
    And if you’re angry that someone seemed unnecessarily combative in a conversation, you might reevaluate the situation, coming to view the behavior as unintentional rather than malicious.
    Training your creative muscles
    To test the link between creative thinking and emotional reappraisal, we surveyed 279 people. Those who ranked higher on creativity tended to reappraise emotional events more often in their daily life.
    Inspired by the link between emotional reappraisal and creative thinking, we wanted to see whether we could use this insight to develop ways to help people be more creative. In other words, could emotional reappraisal be practiced by people in order to train their creative muscles?
    We ran two experiments in which two new samples of participants – 512 in total – encountered scenarios designed to provoke an emotional response. We tasked them with using one of three approaches to manage their emotions. We told some participants to suppress their emotional response, others to think about something else to distract themselves and the last group to reappraise the situation by looking at it through a different lens. Some participants were also given no instructions on how to manage their feelings.
    In a seemingly unrelated task that followed, we asked the participants to come up with creative ideas to solve a problem at work.
    In the experiments, conventional thinkers who tried reappraisal came up with ideas that were more creative than other conventional thinkers who used suppression, distraction or received no instructions at all.
    Cultivating flexible thinking
    Negative emotions are inevitable in work and life. Yet people often hide their negative feelings from others, or use distraction to avoid thinking about their frustrations.
    Our findings have implications for how managers can think about how to best leverage the skills of their workers. Managers commonly slot job candidates into creative and noncreative jobs based on cues that signal creative potential. Not only are these cues shaky predictors of performance, but this hiring practice may also limit managers’ access to employees whose knowledge and experience can play major roles in generating creative outcomes.
    The result is that the creative potential of a significant part of the workforce may be underutilized. Our findings suggest that supervisors can develop training and interventions to cultivate creativity in their employees – even for those who might not seem predisposed to creativity.
    Our research also indicates that people can practice flexible thinking every day when they experience negative emotions. Although people may not always have control over the external circumstances, they do have the liberty to choose how to cope with emotional situations – and they can do so in ways that facilitate their productivity and well-being.
    Lily Zhu, Assistant Professor of Management, Information Systems and Entrepreneurship, Washington State University
    This article is republished from The Conversation under a Creative Commons license. Read the original article.

    How I Turned $5,000 Into $2.6 Billion

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