Personal performance is good, but the process of how to bear the failure is much more important

Why do people imply staff performance related to mindset?

When I assign the same task to two of my new energetic staff, they perform in two different ways, which embody two different types of mindsets. Vincent’s mindset is about guarantee. He sometimes has no idea dealing with failure and also be afraid to change when receiving feedback from others to improve his performance. He takes it personally and sometimes she is displeased. Vincent requires his benefits before doing something.

On the other hand, Jules expects to receive feedback from the senior when making mistakes. To cope with a failure, she dares to change and improve her ability to accomplish well later on. She perceives challenges as ideal opportunities to fail and to learn. If she encounters something that is quite troublesome, she will endeavor to overcome somehow. After all, you can know that who has the fixed mindset and who possesses the growth mindset in this story.

What is Mindset?

If you refer to someone’s mindset, that means their thoughts and beliefs drive them into habits and the way they commonly think about issues. The mindset orients our disposition or attitudes to handle situations. The mindset has much influence on what people think, how they feel, what they perceive and what should they react. In other explanation, the mindset shapes your belief and your belief shapes your attitudes. People have various mindsets of the same thing due to perceiving in different ways.

The book called Mindset: The new psychology of success written by Carol Dweck, who is a psychology professor at Stanford, is one of the most prominent psychology and individual development books nowadays. The book reminds me vividly of my personal experience.

The Fixed Mindset

People with the fixed mindset believe basic qualities like talents are fixed traits. They view failure as permanent. They are more likely to give up when facing an obstacle. When they feel criticism as a personal attack, they seem to quickly give excuse and explain.

Their behaviors are shaped by innate ability and their priority always is validation and achievement. The insight of people having the fixed mindset is that better performances. They are less likely to take creative risks. They choose easier tasks and put in minimal effort.

The fixed-mindset people don’t allow others be better compared to themselves. If their colleagues try new things and succeed, fixed-mindset people feel threatened. They are afraid that success will put pressure on themselves to do more. Safety is their choice.

Also Read: The entrepreneur mindset can be the game-changer that makes the difference between success and failure

The Growth Mindset

People with the growth mindset believe new abilities can be developed by practice. They consider challenge which is just an issue need to be faced, resolved, and learned from. It is possible to say that growth-mindset people can all adapt, progress and experience without any fear of being painful.

Most people are not perfect, and they should suffer from losses and hardships to be stronger and more at peace than ever before. The growth mindset doesn’t mind to show their imperfections as they think that weaknesses are not the problem. The problem is just only the person who cannot accept these weaknesses belonging to them. The imperfections should be recovered since that helps people to improve their adequate development.

Personal performance is good, but the process of how to bear the failure is much more important. The growth-mindset people assume that it takes time for development and achievement. They aren’t convinced of being talented. They strongly believe in the determination of learning from time to time, arduous working and toil to get an accomplishment.

How do you know that you are a fixed-mindset person or a growth-mindset person?

Let’s emphasise straightforwardly in this case. What do people react when receiving a course of work? With the fixed mindset, it will be: “People will finish it with no mistakes. People should avoid being a failure. People simply lose interest or temperature when facing challenges. People think about the inputs for themselves rather than the outputs for others.”

In contrast, with the growth mindset, it will be: “People make mistakes, and it’s not a problem. People need to have feedbacks, even constructive criticism. People get ready to undergo current trouble. People are excited to try to do something beyond what they’ve mastered. People make an effort to figure out the measures of solving issues better than they did.”

5 Significant Ways to Develop a Growth Mindset

1. Acknowledge and embrace imperfections

Even if you demonstrate your best traits of a great person, but you hide from your deficiencies, you will never be excellent in most cases. You are unable to overcome the fear of weaknesses. Of course, fear can hold you back. Have you ever thought that fear is an obstacle distract you from building your strengths? Grasp an opportunity to discover yourself, uncover imperfections hidden and deeply understand yourself. This will be a premise to change the weaknesses towards your strengths.

2. View challenges as opportunities

The growth-mindset people consider each challenge is an opportunities to grow stronger. We continuously determine who we are and what we are able to achieve after enduring troublesome issues. In fact, people might not control events that occur to them, but these unanticipated events serve as a big deal to test truly your characteristics. Thus, it is grateful for welcoming opportunities to learn and to improve.

3. Replace “to fail” with “to learn”

Have you ever heard a quote of Samuel Beckett? “Ever tried. Ever failed. No matter. Try again. Fail again. Fail better.”

It’s not a shame to share your failures with each other. When you make a mistake for your goal, you haven’t failed, you are learning. You learn from the bad experience for yourself instead. You shouldn’t think you’re a loser, think that you’re a learner and then an achiever.

4. Redefine “genius”

A genius is a person who suffered from a whole host of challenges, hardships, losses, and toils. You should redefine that the genius is shaped by hard-working, not only natural ability. The fixed-mindset people believe in talent or intelligence. However, the growth-mindset people only recognise improvement and development throughout the experience. You will be a genius if you mobilise your resource and stretch on your way.

Also read: Why failing your startup does not mean you are a failure

5. Learn from others’ mistakes

It is better to combine our mistakes and the mistakes of others to learn. That will be valuable information for you to tackle the problems that push you up. People sometimes share the same weaknesses, which is a chance to empathise and adapt it to your case. It’s not always wise to compare yourself to others. Learn from others’ missteps and travel down on the bumpy road that helps you be more better.

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The article was first published on e27, on August 31, 2018.

Reference Source: Gary Klein Ph.D, 2016. Mindsets. What they are and why they master on Psychology Today

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Centralized exchanges go against the very ethos of blockchain

 

Blockchain has disrupted existing industries and created new ones altogether, notably in the fin-tech space.

As a means of raising capital, cryptocurrencies and tokenized assets enable faster transactions at a minimal cost.

The market forces driving the value of cryptocurrencies have also spawned new investment instruments and derivatives – exchanges and futures, for instance. 

One example of the recent innovations introduced in this space involves Bitcoin futures – which are, in gist, either buy or sell contracts for Bitcoin at a pre-agreed price at a defined date in the future.

This opens the opportunity to trade not on the speculative aspect of Bitcoin itself, but also as a derivative instrument, meaning investors can earn from both a rise or a fall in Bitcoin prices – a good way to hedge one’s portfolio.

Decentralized tech in a centralized environment

Amid all these innovations, a central point of interest would revolve around cryptocurrency exchanges, where traders exchange cryptocurrencies, tokens, and even fiat money.

Exchanges enable users to make trades within a generally fast and secure environment with minimal cost.

While exchanges are an essential part of the crypto ecosystem, there is one glaring concern brought about by how such exchanges have been set up.

According to a study published by TokenInsight, decentralized exchanges account for only 19 per cent of the global crypto exchange ecosystem.

An even more interesting number is that only 1 per cent of transactions goes through decentralized exchanges. 

If the main goal of blockchain and crypto were to decentralize things, then such centralized exchanges would go against the very ethos of blockchain. 

Who stands to gain from decentralization? 

Also Read: A quick guide to digital marketing a blockchain project

Looking at things more closely, the bias towards centralized exchanges stems from the perceived notion that these platforms and transactions need oversight – a concept that has trickled down from traditional financial systems.

However, apart from reliance on a centralized authority, such exchanges are prone to single points of failure, too, in terms of security.

Take the case of various centralized exchanges that have fallen victim to hacking attacks due to the centralized nature of their infrastructure and control.

In the financial setting, crypto and blockchain benefit both investors and entrepreneurs in various ways, and here are five fundamental ways that a decentralized exchange would ideally provide such support. 

1. Smart contracts should be able to solve regulatory hurdles and obstacles across jurisdictions

Each jurisdiction has its own set of regulations and frameworks put in place for financial transactions and investment instruments.

Due to the fiduciary nature of investments and financial transactions, one can only expect strict and stringent regulatory regimes.

However, when it comes to fin-tech, many countries are still struggling to come up with an effective framework, especially given the rapid pace of development in terms of new technologies and products.

A fully-decentralized mechanism involving smart contracts should ideally resolve the challenge of cross-border transactions, especially if the smart contract can take into consideration the regulatory framework of each country or jurisdiction that will be affected.

For instance, users exchanging crypto assets on a decentralized exchange can incorporate geolocation features, and the smart contract will be the one to enforce any necessary rules.

Also Read: What does cryptocurrency mean for your small business?

Aaron Tsai, Founder and Chief Capitalist at MAS Capital Universal Exchange, Inc. (MASEx), highlights how centralized systems – for instance, those that stem from U.S. regulatory oversight – are on their way to obsolescence.

“The US system is under heavy fire by the rapid adoption of cryptocurrencies and security tokens. This is a seismic shift that disrupts the existing oligopolies of financial institutions in banking, securities and fund management sectors.”

2.Enhanced trade transparency and security

Record-keeping will become increasingly difficult for centralized exchanges, especially with an increasing volume of transactions.

This results in vulnerabilities, which can affect trader confidence. A decentralized exchange ensures better transparency and accountability, which will mean better compliance with financial regulations. 

The main purpose of most regulatory frameworks is to ensure transparency and security in transactions – something that is especially appropriate in trading public securities.

However, this is almost technically impossible to do in a centralized setting, especially when there is a potential single point of failure.

A decentralized exchange ensures better uptime, while a distributed consensus mechanism ensures that malicious players cannot game or cheat the system.

3. Faster trade settlements

In an ideal environment, trades of assets (such as shares of stocks) take an instant to complete. In the real world, millions of stock trades happen in mere milliseconds, facilitated by algorithms and systems.

However, the databases that these algorithms have to interface and coordinate with are currently fragmented and messy.

Also Read: Is Cardano the best cryptocurrency to invest in?

In addition, having centralized clearinghouses for transactions can result in bottlenecks in transactions. 

At major financial centres, it takes two full days to finish settlements, for example. A decentralized approach done through blockchain will provide faster settlement of transactions.

In some cases, a side-chain or off-chain approach can ensure even faster transaction speeds without burdening the main blockchain. 

4. Lower costs, lower barriers to entry

 Traditional securities exchanges – such as stock markets – often have high barriers to entry, in terms of transaction fees, largely brought about by high fees charged by centralized exchanges or clearinghouses.

With a decentralized approach, it will be the market that will dictate transaction costs (which are very minimal). A tokenized approach to securities will also mean that investments can be made at a fraction of the cost of other traditional securities. 

“Smart contracts enable you to create synthetic assets on-chain based on real live ones that can be accessed without friction and from all over the world,” shares Abishek Punia, Investor at Draper Associates. “New applications can be built on top of this globally connected asset database.” 

5. Increased liquidity for private equities markets

Related to the previous point, higher barriers to entry with centralized and traditional securities markets makes it difficult for startups and businesses to raise capital. Add to this the often strict regulatory regimes when it comes to participating in capital markets.

Decentralization brought about by blockchain enables firms to tokenize company equities and digitize assets, which can also streamline the process of capital raise for fund managers and investors.

This encourages better liquidity and higher participation from investors. Matters of equity can be directly incorporated into smart contracts, which makes capitalization tables simpler to manage.

Amar Shah, Director at Namana Investments (HK) Ltd and former Managing Director at Morgan Stanley, shares his opinion on this matter:

“As investors seek higher yields, there will be more funds entering the market. The race to seek these yields will divert some of the funds away from more traditional investments. Furthermore, like education and understanding of these products increases, there is likely to be more liquidity for blockchain startups.”

The future of decentralization

“As the industry matures there are likely to be developments based on market forces taking advantage arbitrage opportunities which will bring about some harmonization,” shares Shah.

Offering his personal views on decentralization, he says that “regulators are increasingly consulting with each other and, as a result, there is likely to be some common regulation.”

Tsai, meanwhile, cautions that the current state of things is far from ideal, but he is confident that we are getting there.

“The decentralized technologies need refinement, but it will not take long before we are there.

When that happens current exchanges will be obsolete, regulators will have no choice but to adapt and the financial giants will tumble. It is always difficult for the status quo to lead a revolution, especially one in which their established roles may no longer be needed.”

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CAC Capital, Accord Ventures, and Actcelerate International Group Ltd (AIG) co-invest in the round arranged by Cradle Fund

WOBB, a job search portal targeting Generation Y and Z job seekers in Malaysia, announced that it has received US$1.3 million pre-Series A investment from CAC Capital, Accord Ventures, and Actcelerate International Group Ltd (AIG) in a funding round arranged by Cradle Fund.

Derek Toh, the company’s founder and CEO, shared that the company’s vision is to be the largest youth platform in Asia.

The funding will be used to focus on its growth in a mission to dominate Generation Y hiring in Asia.

Founded in 2014, WOBB uses algorithms and AI chatbots for screening, which is aimed to make it faster for job seekers and employers to find each other, as told in DealStreetAsia.

WOBB partners with LinkedIn in Malaysia, the Philippines, and Indonesia to enhance its job-seeking platform.

Also Read: Vietnamese VC firm VinaCapital Ventures officially debuts with US$100M

In 2017, WOBB raised US$140,000 from an equity crowdfunding campaign.

It is also a recipient of Cradle Fund’s CIP150, CIP500 grants as well as a DEQ equity funding.

The startup said that it will start its Series A fundraising next year.

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The deal includes two Vietnam-based online platforms centred around parenting Marrybaby.vn and weddings Marry.vn

Singapore-based Hello Health Group, which runs various health content information sites in Asia, has announced the acquisition of Marry Network from global media company Ringier Vietnam.

The deal includes two Vietnam-based online platforms centred around parenting (Marrybaby.vn) and weddings (Marry.vn).

“Our company’s mission to democratise access to healthcare by taking the world’s healthcare information and making it universally accessible and useful matches perfectly with the Marry Network ́s approach. We are happy to include the Marry Network into our Hello Health Group platforms that inform, educate and engage over 32 million unique users each month. With our digital expertise, we will help the Marry Network to reach their target audience in the best possible way,” said James Miles-Lambert, CEO of Hello Health Group.

Founded in 2015, Hello Health Group is focusing on the development of healthcare platforms across emerging countries in Asia. The group helps healthcare brands connect to the audience via its eight different platforms — Hello Bacsi (Vietnam), Hello Sehat (Indonesia), Hello Sayarwon (Myanmar), Hello Doktor (Malaysia), Hello Khunmor (Thailand), Hello Krupet (Cambodia), Hello Yishi (Taiwan), and Hello Swasthya (India).

Also Read: ‘We aim to transform car ownership through our 360-degree approach’: Carro Founder Aaron Tan

With over 32 million monthly users in the region, including over 7.5 million in Vietnam, the group is also now investing beyond the media sector to develop new health tech ventures. This includes the recently-launched medical travel platform Go.care, as well as plans to enter digital insurance.

Founded in 1833, Ringier is a diversified media company with about 7,300 employees across 19 countries. Ringier manages many brands in print, TV, radio, online and mobile media. Ringier is a Swiss family-owned business with head offices in Zurich.

Ringier Vietnam is headquartered in HCMC and has office in Hanoi. Ringier Vietnam has developed a diversified multi-media operation, publishing brands such as Elle, Elle Man, Elle Decoration and Muabannhadat.vn, an online marketplace for buying and selling property.

 

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Arcor Capital will work with Helicap Investments to raise US$180 million in capital from accredited investors

Singapore-based fintech platform that specialises in alternative lending in Southeast Asia, Helicap, today announced its acquisition of securities firm Arcor Capital for an undisclosed sum.

As a newly acquired company, Arcor Capital will work together with sister company Helicap Investments (under the Helicap Group) to raise S$250 million (US$180 million) in capital from accredited investors.

Helicap Investments itself has obtained Registered Fund Management Company status in April. It aims to connect underserved consumer and corporate credit market in Southeast Asia by using its proprietary, data-driven analytics platform.

Having invested in eight Asian alternative lending platforms, Helicap Investments will launch its first fund with a target AUM of S$200 million (US$144 million).

Following the acquisition, Arcor Capital co-founders and managing partners Patrick Hong and Rahul Khemka will remain in their senior management roles.

Also Read: The case for alternative lending

Arcor Capital co-founder Simon Ong will also remain in his role as Senior Advisor to the company.

In a press statement, Helicap Co-Founder and CEO David Z. Wang named the acquisition as a “landmark moment” for the 18-month startup.

“The acquisition, together with Helicap Investments successfully obtaining registered fund management company status, enhances the Group’s leading position in the alternative lending market and enables us to immediately ramp up our engagement with sophisticated investors via debt securities fundraising and credit fund management,” he said.

“We are delighted to welcome stellar finance professionals – Patrick and Rahul – to the Helicap family and
leverage their decades of experience to further add to Helicap’s reputation of backing sound and reputable companies,” he continued.

Arcor Capital specialises in private debt securities and growth capital for early stage and mid-market enterprises in Asia.

It holds a Capital Markets Services (CMS) licence for dealing in securities from the Monetary Authority
of Singapore (MAS).

Also Read: Helicap raises US$1.5M seed funding round led by Singapore’s ex-minister of state Teo Ser Luck

As for Helicap, the company facilitates loans to business owners and individuals who are unable to access loans provided by traditional financial institutions such as banks.

Founded in 2017, it raised a US$5 million Pre-Series A funding round led by East Ventures and real estate conglomerate Soilbuild Group Holdings in September 2018.

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Image Credit: Helicap

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