15 Cities With the Most Minority-Owned Startups

minority business owner
Rawpixel.com / Shutterstock.com

This story originally appeared on Self.

In addition to being a critical driver of growth in the economy overall, entrepreneurship is one of the many ways that individuals can build wealth in America. But as 2020 illustrated, opportunities to participate and succeed in the entrepreneurial economy are not equally distributed by race and ethnicity.

Last year, a wave of racial justice protests nationwide and the economic repercussions of the COVID-19 pandemic drew more attention to the struggles that minority communities face in building and sustaining wealth. According to a McKinsey analysis, two of the primary challenges facing minority business owners are structural barriers to financial health and disproportionate representation in industries most susceptible to economic shocks like those presented by COVID-19.

Despite all these challenges, today there are nearly 170,000 minority-owned startups in the U.S., employing over 700,000 people and generating close to $100 billion in annual revenue. Based on demographic trends, these numbers are likely to grow as the population continues to diversify on racial and ethnic lines. Unsurprisingly, states with higher minority populations — including “majority-minority” California and Hawaii — also lead in the percentage of startups that are minority-owned.

At the city level, the story is much the same. While areas with large minority populations also tend to have higher concentrations of minority-owned startups, minorities remain underrepresented in small-business ownership relative to their population levels. To show this trend, researchers at Self Financial used U.S. Census Bureau data to calculate the percentage of startup businesses — defined as firms less than 2 years old — that are minority-owned and the minority population share in each metro area. Researchers also included each metro’s total number of minority-owned startups, along with their number of employees and total annual sales.

Keep reading for the large metros with the most minority-owned startups.

15. Richmond, VA

Richmond, Virginia
ESB Professional / Shutterstock.com
  • Percentage of startups that are minority-owned: 19.56%
  • Number of startups that are minority-owned: 617
  • Total employees at minority-owned startups: 2,976
  • Annual sales at minority-owned startups: $260,076,000
  • Minority population share: 42.71%

14. Chicago-Naperville-Elgin, IL-IN-WI

Dream Master / Shutterstock.com
  • Percentage of startups that are minority-owned: 20.37%
  • Number of startups that are minority-owned: 5,275
  • Total employees at minority-owned startups: 19,635
  • Annual sales at minority-owned startups: $2,785,820,000
  • Minority population share: 47.10%

13. Baltimore-Columbia-Towson, MD

Baltimore, Maryland
sean-pavone / Shutterstock.com
  • Percentage of startups that are minority-owned: 22.39%
  • Number of startups that are minority-owned: 1,460
  • Total employees at minority-owned startups: 5,053
  • Annual sales at minority-owned startups: $764,077,000
  • Minority population share: 43.45%

12. Seattle-Tacoma-Bellevue, WA

Seattle
Albert Pegp / Shutterstock.com
  • Percentage of startups that are minority-owned: 22.66%
  • Number of startups that are minority-owned: 2,937
  • Total employees at minority-owned startups: 13,133
  • Annual sales at minority-owned startups: $1,576,032,000
  • Minority population share: 36.72%

11. Las Vegas-Henderson-Paradise, NV

Las Vegas homes
trekandshoot / Shutterstock.com
  • Percentage of startups that are minority-owned: 23.80%
  • Number of startups that are minority-owned: 1,624
  • Total employees at minority-owned startups: 5,946
  • Annual sales at minority-owned startups: $926,653,000
  • Minority population share: 57.23%

10. Orlando-Kissimmee-Sanford, FL

Sean Pavone / Shutterstock.com
  • Percentage of startups that are minority-owned: 23.89%
  • Number of startups that are minority-owned: 2,279
  • Total employees at minority-owned startups: 6,472
  • Annual sales at minority-owned startups: $920,034,000
  • Minority population share: 53.32%

9. Dallas-Fort Worth-Arlington, TX

Aneese / Shutterstock.com
  • Percentage of startups that are minority-owned: 24.12%
  • Number of startups that are minority-owned: 5,190
  • Total employees at minority-owned startups: 25,714
  • Annual sales at minority-owned startups: $3,382,747,000
  • Minority population share: 53.97%

8. St. Louis, MO-IL

f11photo / Shutterstock.com
  • Percentage of startups that are minority-owned: 25.03%
  • Number of startups that are minority-owned: 2,279
  • Total employees at minority-owned startups: 4,019
  • Annual sales at minority-owned startups: $193,558,000
  • Minority population share: 26.27%

7. Washington-Arlington-Alexandria, DC-VA-MD-WV

Washington, D.C.
orhan-cam / Shutterstock.com
  • Percentage of startups that are minority-owned: 29.23%
  • Number of startups that are minority-owned: 4,599
  • Total employees at minority-owned startups: 16,729
  • Annual sales at minority-owned startups: $2,480,180,000
  • Minority population share: 54.50%

6. New York-Newark-Jersey City, NY-NJ-PA

NYC New York City skyline at night
Songquan Deng / Shutterstock.com
  • Percentage of startups that are minority-owned: 29.93%
  • Number of startups that are minority-owned: 22,544
  • Total employees at minority-owned startups: 67,660
  • Annual sales at minority-owned startups: $11,803,829,000
  • Minority population share: 54.14%

5. Houston-The Woodlands-Sugar Land, TX

Houston, Texas skyline
Silvio Ligutti / Shutterstock.com
  • Percentage of startups that are minority-owned: 30.45%
  • Number of startups that are minority-owned: 5,599
  • Total employees at minority-owned startups: 22,735
  • Annual sales at minority-owned startups: $3,145,123,000
  • Minority population share: 63.85%

4. San Antonio-New Braunfels, TX

San Antonio at night.
f11 photo / Shutterstock.com
  • Percentage of startups that are minority-owned: 30.86%
  • Number of startups that are minority-owned: 1,675
  • Total employees at minority-owned startups: 8,871
  • Annual sales at minority-owned startups: $1,076,705,000
  • Minority population share: 66.32%

3. Riverside-San Bernardino-Ontario, CA

Riverside, California at night
MattGush / Shutterstock.com
  • Percentage of startups that are minority-owned: 34.07%
  • Number of startups that are minority-owned: 3,540
  • Total employees at minority-owned startups: 19,527
  • Annual sales at minority-owned startups: $2,013,083,000
  • Minority population share: 67.88%

2. Los Angeles-Long Beach-Anaheim, CA

The streets of Los Angeles, where median rent is relatively low
Sean Pavone / Shutterstock.com
  • Percentage of startups that are minority-owned: 34.70%
  • Number of startups that are minority-owned: 17,221
  • Total employees at minority-owned startups: 69,107
  • Annual sales at minority-owned startups: $11,788,812,000
  • Minority population share: 70.36%

1. San Jose-Sunnyvale-Santa Clara, CA

San Jose California
Uladzik Kryhin / Shutterstock.com
  • Percentage of startups that are minority-owned: 46.01%
  • Number of startups that are minority-owned: 2,796
  • Total employees at minority-owned startups: 11,469
  • Annual sales at minority-owned startups: $1,808,320,000
  • Minority population share: 68.38%

Detailed Findings & Methodology

a man reads his free credit report
ESB Professional / Shutterstock.com

The data used in this analysis is from the U.S. Census Bureau’s Annual Business Survey, which includes all U.S. businesses with paid employees. To identify the locations with the most minority-owned startup businesses, researchers calculated the percentage of all startup businesses (firms less than 2 years old) that are minority-owned. The researchers also calculated the minority population share of each geographic region (defined as the percentage of the total population that does not identify as non-Hispanic white) by using data from the U.S. Census Bureau’s 2019 American Community Survey.

To improve relevance, only metropolitan areas with at least 100,000 residents were included. Additionally, metros were grouped into cohorts based on population size: small (100,000–349,999), midsize (350,000–999,999), and large (1 million or more).

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

7 Top Costly Mistakes Investors Made Last Year

Upset investors talking on the phone
Koldunova Anna / Shutterstock.com

Warning: Big investing mistakes can be hazardous to your wealth.

One or two basic blunders can undermine years of diligent saving and crush your dreams of building life-changing wealth.

Financial professionals see investors make such errors all the time. Recently, they identified the most common of these mistakes as part of the 2020 Natixis Global Survey of Financial Professionals.

Following are some of the costliest mistakes investors likely made in 2020 — and how to avoid them going forward.

Emotional decisions

BlueSkyImages / Shutterstock.com

When the coronavirus swept into the U.S. this spring, it sent the economy into a tailspin. The S&P 500 index plunged 34%, likely taking much of your wealth with it.

Bear markets feel like a body blow. But throughout history, new bull markets always have followed downturns. That is why hitting the panic button and selling in bad times is usually a mistake.

During this spring’s plunge, the market fell to a low on March 23. But if fearful emotions caused you to sell on that day, you missed out on one heck of a party that followed.

From March 23 through April 9, the S&P rose a stunning 25%. The 100-trading-day period after March 23 marked the best S&P performance since 1933, with a rise of more than 50%. And stocks have continued to soar ever since.

As stocks tanked earlier this year, investors in the U.S. sold $327 billion in mutual fund positions, according to Strategic Insight. The lesson? In investing, emotions can be your enemy.

Timing the market

Man timing the market
G-Stock Studio / Shutterstock.com

Let’s return to the bear market of last spring. As stocks were falling, prognosticators everywhere were rising up, telling you exactly what to do with your money.

Chances are, a few of them were right. But likely, it was very few.

Timing the market — which requires knowing exactly when to buy and precisely when to sell — is all but impossible. Numerous studies have shown that almost nobody consistently times the market well over the long haul.

In his book “Common Sense on Mutual Funds,” legendary investor John Bogle — creator of the world’s first index mutual fund — wrote:

“The idea that a bell rings to signal when investors should get into or out of the market is simply not credible. After nearly 50 years in this business, I do not know of anybody who has done it successfully and consistently. I don’t even know anybody who knows anybody who has done it successfully and consistently.”

Not recognizing risk tolerance

Walking a tightrope
Vaclav P3k / Shutterstock.com

There is no way around it: Investing is risky. Over time, the stock market rises. But there are periods — some of them long — when equities crater.

Just in the past 20 years, the S&P 500 has seen three large stock market declines, according to Investopedia:

  • Beginning in March 2000: down 49%
  • Beginning in October 2007: down 56%
  • Beginning in February 2020: down 30%

In each case, markets recovered. Sometimes, the recovery was relatively quick. The bear market of 2020 was a blip, lasting just one month.

But in other cases, recovery was a slog. The bear that growled its way onto the stage in March 2000 stayed put for 31 months.

Natixis points out that 56% of investors say they are willing to take on risk to get ahead, yet more than three-quarters say they really prefer safety over investment performance.

So, before you invest, understand exactly how much risk you are willing to take — and what you will do if things do not work out as planned.

Unrealistic expectations

Woman with money, looking stupid
Liudmila P. Sundikova / Shutterstock.com

It’s a safe bet that if you are reading this article, you hope to get rich someday. Or, at least you hope to achieve some measure of financial security.

Here’s the good news: If you save diligently and invest wisely over time, you will almost certainly increase your wealth — possibly to levels that exceed your wildest dreams.

But doing so takes time. Trying to make a quick killing in the market is likely to leave you disappointed. So is expecting wildly high returns of 20% annually.

Be patient. Keep your short-term expectations modest, and let the long term take care of itself. As we wrote in “10 Characteristics of Wildly Successful People“:

“If you aren’t willing to put in the hours and make some sacrifices, you might as well get accustomed to mediocrity. The best things in life — whether that’s money in the bank or a great relationship with your spouse or child — typically come only with significant effort.”

Taking too much risk

Bull and bear
Bacho / Shutterstock.com

As we pointed out earlier, uncertainty is part of investing. It is difficult to get rich without taking on some risk. Money Talks News founder Stacy Johnson is fond of saying you can’t get a hit from the dugout.

However, taking on too much risk can lead to disaster. It’s important to strike a balance. As Stacy says, you should never invest money you will need in the next five years, and you should not invest everything you have into the market — ever. He writes:

“One rule of thumb I’ve been advocating for decades is to subtract your age from 100, then put the difference as a percentage of your money in stocks. So if you’re 20, you can invest up to 80% in stocks. If you’re 80, 20%. If you’re nervous, invest less. It’s just a rule of thumb.”

For more, check out “7 Ways to Slay Your Fear of the Stock Market.”

Not recognizing the euphoria of an up market

Excited woman at a computer
fizkes / Shutterstock.com

When times are good, it is easy to think sunny skies will stretch on forever.

Investors who see a 10% gain in stocks over a period of six months are much more likely to expect their investments to continue to rise in the future, according to research from the Natixis Center for Investor Insight and the Massachusetts Institute of Technology.

But while it may seem counterintuitive, the more stock prices rise, the greater the danger is that a fall is on the horizon. By contrast, when stocks have plummeted — and nobody wants them — they are likely to be a safer purchase.

Those truths are at the root of one of the stock market’s oldest maxims: “Buy low, sell high.” But instead of trying to figure out when to buy and sell, simply invest for the long haul.

As legendary investor Warren Buffett says, “consistently buy an S&P 500 low-cost index fund. Keep buying it through thick and thin, and especially through thin.”

Failing to think about taxes when selling

Uncle Sam and taxes
Sean Locke Photography / Shutterstock.com

Ah, taxes: They are preferable to that other famous “inevitable” in life (death), but they still stink.

Most of us try to keep our tax obligation small. But as the folks at Natixis point out, each time you sell stock shares, you are locking yourself into paying taxes on any gains you may have accumulated. According to Natixis:

“Three-quarters of investors may say they consider tax implications when making investment decisions, but their behavior in periods of stress may actually trigger unintended taxable events. For example, a big sell-off in your portfolio could lock in gains at a time when markets are declining rapidly.”

So, Natixis encourages you to think strategically before selling. Even carefully weighing which holding you should sell first can make a big difference to how much you will owe Uncle Sam on Tax Day.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

6 Things Retirees Wish They Had Done Differently

Thoughtful seniors plan for retirementThoughtful seniors plan for retirement
RossHelen / Shutterstock.com

This story originally appeared on NewRetirement.

Many retirees complete their last day of work only to find that they can’t afford to live comfortably. Looking back, they point to clear planning steps they could have taken that would have made a dramatic impact on being prepared for retirement.

Here are several ways today’s retirees say they would have planned differently, and what you can do while there is still time.

1. Save More

saving moneysaving money
Dean Drobot / Shutterstock.com

According to an annual study by the Transamerica Center for Retirement Studies, a full 78% of retirees wish they would have saved more. Retirees who were less confident about their financial situations say not saving was a major regret.

Other savings regrets included not making the most of their 401(k) plan, not enrolling in the plan early enough, and not saving the maximum amount allowed by their plan.

Too many soon-to-be retirees put off retirement saving, says Kerry Soudan with TREW Financial & Benefits Group Inc., which has offices in Chicago’s North Shore suburbs and Las Vegas. “A lot of people wait until the very end when they retire to start planning for retirement,” Soudan says.

2. Document an Overall Plan

Happy senior planning retirementHappy senior planning retirement
Monkey Business Images / Shutterstock.com

The research is clear. A written financial plan is likely to make you feel more confident about your finances (the Schwab Modern Wealth Survey showed that 63% of people with a written financial plan say they feel financially stable while only 28% of those with a plan feel the same level of comfort).

However, the Transamerica research found that only 18% of retirees have a written plan. Whether you are far from, approaching, or already in retirement, a written plan will help put your worries to rest.

And creating a written plan is easy. The NewRetirement Planner can help. Forbes Magazine calls it “a new approach to retirement planning.” It is comprehensive, reliable, and will help you discover opportunities for more wealth and security.

3. Plan More Carefully for the Fun You Want to Have in Retirement

A retired couple celebrates their freedom at the beachA retired couple celebrates their freedom at the beach
goodluz / Shutterstock.com

Two-thirds of pre-retirees (68%) have not completed a budget of anticipated income and expenses, according to Fidelity Investments.

Retirees can really underestimate how much retirement fun will cost, says Mike Niemczyk with MLN Retirement Planning Inc., with offices in Grayslake, Illinois, and McHenry County, Illinois. While many older Americans believe once they retire they’ll spend less as a result of having a lower income, financial experts say most retirees often spend more in at least the first few years of retirement.

“We find now that retirees are going out and spending more — dinner with friends, vacations,” Niemczyk says.

When helping clients budget for retirement, Soudan asks what they enjoy doing on the weekend.

“They might say, ‘Golf and then go out to dinner,’” Soudan says. “I tell them, ‘When you retire, every day is Saturday. You have to think about what it’s going to take to live like it’s Saturday seven days a week.’”

“They didn’t plan ahead of time,” Niemczyk says of the challenges many clients face. “Many are running out of money before running out of life.”

Explore the best ways to create a reliable retirement budget.

4. Plan for Health Care

Couple with financial adviserCouple with financial adviser
imtmphoto / Shutterstock.com

Not being able to afford dinner out is a surmountable problem. A bigger issue is knowing if you can afford health care.

According to a 2013 report by AARP, “only about one-third (36%) have tried to estimate how much money they will need to save and have set money aside to cover these expenses in the future. Adults age 60-64 (40%) are just slightly more likely than those age 50-59 (35%) to have money set aside although these differences are not statistically significant.”

Two-thirds of respondents have thought about the costs at least somewhat, but only 52% are confident they can afford the costs. In fact, less than 2 in 10 (16%) are very confident that they can afford the costs of health care in retirement.

Before you retire, you should get a reasonable estimate of your health care costs and make sure you can afford them. Medicare does not cover everything, and most people spend hundreds of thousands of dollars in out of pocket health care expenses in retirement — not even including funding a long-term care need.

The NewRetirement Planner can give you a personalized estimate for health care costs. It also helps you figure out how to plan for a possible long-term care need.

5. Learn More About Personal Finance

Senior couple making retirement plans with adviserSenior couple making retirement plans with adviser
Alexander Raths / Shutterstock.com

The Transamerica research suggests that a full 66% of retirees wish they were and had been more knowledgeable about financial planning.

There are a lot of considerations, ranging from investing and budgeting to debt and taxes. Good thing you are reading articles like this one!

6. Plan and Make Moves to Protect Money from Taxes

Taxes are a major consideration for retirees. Uncle Sam can take a big bite out of your nest egg.

“Many older Americans with 401(k) plans don’t realize those monies are taxed when cashed out,” Soudan says. “If you have half a million in your 401(k) you might be hit with a 30% to 40% tax,” he adds. However, with proper planning, there is a lot you can do to protect your money from taxes.

It takes forethought, but Roth conversions, taxable income shifts and other strategies can result in significant lifetime savings.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

7 Products With Price Spikes on Amazon Amid the Pandemic

Angry woman using a laptop
ViDI Studio / Shutterstock.com

The coronavirus crisis wasn’s a plague for Amazon’s business in 2020. Founder and CEO Jeff Bezos’ wealth grew 63%, the company’s stock price rose 73%, and people are jumping on the Prime train at a record pace.

Many people are staying home to prevent getting COVID-19 and using Amazon to deliver nearly everything under the sun. But as demand for deliveries has risen, so have the prices of some products, according to a recent report by the U.S. Public Interest Research Group’s Education Fund.

The nonprofit analyzed 15 product categories, looking at the prices of 50 essential products in each category. The products examined were fulfilled by Amazon, a third-party or both.

The U.S. PIRG Education Fund discovered that, of the 750 products it analyzed, prices of 136 at least doubled and 409 increased by more than 20% over the course of 2020.

Following is a look at the seven product categories for which the U.S. PIRG Education Fund found more than half of the product listings increased in price by more than 20%.

Pulse oximeters

pulse oximeter
Click and Photo / Shutterstock.com

Pulse oximeters measure the oxygen level in a person’s blood.

The U.S. PIRG Education Fund found that 54% of listings for pulse oximeters on Amazon that it examined increased in price by more than 20% in 2020 — and 5% of those listings at least doubled in price.

Hand soaps

Woman washing her hands
Dragana Gordic / Shutterstock.com

In 2020, 59% of Amazon listings for this anti-COVID-19 essential increased in price by more than 20%, and 11% of those at least doubled in price, according to the U.S. PIRG Education Fund analysis. The nonprofit also found one instance in which a three-pack of hand soap increased in price from $25.57 to $72.94.

Perhaps not surprisingly, soap is among the pandemic must-haves that Money Talks News cites in “20 Things That Are Actually Worth Stockpiling.”

Oral thermometers

Sick woman holding thermometer
Hananeko_Studio / Shutterstock.com

The U.S. PIRG Education Fund discovered that 59% of Amazon listings for these fever-detectors that the nonprofit examined increased in price by more than 20% in 2020, and nearly one-quarter at least doubled in price. One thermometer’s price rose from $254.78 to $401.76.

If you want to go different routes in measuring your family’s temperatures, The New York Times’ Wirecutter reviews in-ear and forehead thermometers.

Patio heaters

Patio heater
Pawel Pietraszewski / Shutterstock.com

These handy products greatly enhance outdoor gatherings, and the U.S. PIRG Education Fund found that 61% of examined Amazon listings for these heaters increased in price by more than 20%, and 45% at least doubled in price in 2020.

If a patio heater isn’t your style, AARP has some ideas to stay warm outside during a time when meeting up indoors can be risky.

Cloth face masks

Woman in a mask shopping for groceries
Paulo Vilela / Shutterstock.com

In 2020, 66% of the Amazon listings for cloth face masks in the U.S. PIRG Education Fund’s analysis increased in price by at least 20%.

Increasingly more health experts are advising people to wear two masks, and Money Talks News breaks down the pros and cons of doubling up in “Does Wearing 2 Masks Protect You Better From COVID-19?

Hand sanitizers

Parent and child use hand sanitizer and face masks at school
1641857584 / Shutterstock.com

The U.S. PIRG Education Fund found that 77% of the Amazon listings for hand sanitizers that it examined increased in price by more than 20% in 2020, with nearly a quarter of those doubling in price. One hand sanitizer’s price rose from $33.13 to $178.20.

If you want to save some money and DIY your sanitizer, Money Talks News has instructions for making your own.

Disinfectant wipes

Woman using a disinfecting wipe to clean a door handle
FotoHelin / Shutterstock.com

In 2020, 78% of the Amazon listings for disinfectant wipes increased in price by at least 20%, according to the U.S. PIRG Education Fund analysis.

Despite their popularity, wipes are not the only way to kill coronavirus germs. Money Talks News details some cheaper options in “5 Cleaning Products You Should Be Using in 2021.”

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Optimal Way to Structure Your Day

best work schedule

The eight-hour workday is outdated and ineffective. To be more productive, you have to find a new way of working.

A recent study tracked employees’ work habits. They found that the length of the workday didn’t matter as much as how people structured their day. People who regularly took short breaks were much more productive than those who worked longer hours.

The best ratio was 52 minutes of work followed by a 17 minute break. This schedule is more in sync with our body and brain. Our brain naturally works in bursts of high energy (about an hour) followed by times of low energy (15–20 minutes).

Once you align your schedule with your natural flow, expect your productivity and attitude to improve.

Here are 4 tips that should help:

  • Break up your day into hourly intervals.
  • Stop after an hour.
  • Don’t skip a real break.
  • Don’t wait until you’re tired to take a break.

See the original article here.

Indicators of Success: 5 Personality Traits You Need to Develop

successful personality traits

Intelligence is no longer the main predictor of success. While IQ still carries a lot of weight, personality traits play a much bigger role.

According to a 2016 research paper from the Proceedings of the National Academy of Sciences, grades and achievement tests capture personality traits that are generally more predictive than IQ for several important life outcomes, like income and self-reported life satisfaction.

Personality is also considered by employers. They use behavioral assessments and personality tests to prioritize candidates and predict if their behavior is a good fit.

Even college admissions professionals are looking at a candidate’s personality. In fact, KudosWall conducted a survey of 500 academic admissions professionals between November 13 and November 28, 2017. The research found that 86 percent say an applicant’s personality and character skills assessments play a big role in the admissions process.

There is good news: while there is no evidence suggesting you can change your personality, there is anecdotal evidence that shows you can change how you behave. For example, people who are dissatisfied with their friendships tend to put themselves in situations where they can increase in extroversion.

There is no right or wrong personality type, but there are personality traits and character skills that are beneficial. Here’s a look at some of the traits and skills that influence performance in personal and professional development.

Self-Discipline Yields a Healthy Body and Mind

Your level of self-discipline determines your ability to achieve goals. When you’re disciplined, you’re able to control feelings, overcome weaknesses, and pursue goals despite temptations that can hold you back.

People with high levels of self-discipline are better at sticking to healthy habits, like eating right and exercising. If this personality trait isn’t natural, you can start making changes to develop it.

Look at areas in your life in which you want to make improvements, such as your career, nutrition, social needs, fitness, and more. Determine your big ‘why’ for each goal. When you have a reason bigger than yourself, like living longer or feeling more fulfilled in your work, your motivation will be consistent.

Then, create an action plan that includes specific goals and track your progress. If you’re working on meeting your social needs, start with action (attending one meetup per week), track your progress (number of meetups attended), and reflect on the outcome (mood changes and the feeling of social needs being met). As you make progress, you’ll learn how to stay on course with goal-driven approaches.

Organizational Skills Hone Your Vision

When you think of highly organized professionals, you imagine meticulously clean work spaces and detailed planners. They have color-coded calendars and are fully engaged in their work.

This skill set falls under the big five personality type called conscientiousness. Those with this personality trait are typically considered reliable and dependable. They stand out because they’re directed by what matters most to them. They’re not scrolling social media when they should be preparing for a meeting. They follow a routine that helps them see their priorities and work on them first.

Build these organizational skills by focusing on one day at a time. Start by using checklists during your work day. Then, learn how to prioritize your daily tasks. Give yourself 15 minutes at the beginning of the day to schedule your time, then use 15 minutes at the end of the day to plan for tomorrow.

Optimism is Positivity in Action

If you see the glass as half-empty, you’re going to struggle with facing challenges and overcoming setbacks in your personal and professional life. Optimism – the other side of the coin – is your ability to feel hopeful and confident about your future. This positive outlook is often harder to come by. However, it can actually be programmed with consistent practice.

Start developing optimism by practicing mindfulness. For example, start meditating, mindful walking, and consider enrolling in a mindfulness training program. When you cultivate a present mind, you’re able to allow negative thought patterns to come and go. In other words, you’re training yourself to regulate your emotions, both good and bad.

Combine this practice with visualization. Some of the best athletes in the world use visualization tactics to get into the right mindset. When you visualize a successful presentation or earning a big client deal, you feel more confident in your future.

Strategic Creativity Resonates With Others

Creative people are typically curious, imaginative, and expressive. However, depending on their ability to read an audience, they can get into trouble.

Some people might interpret their expressiveness as risky and divisive, which is why it’s important to be strategic in creative pursuits.

Creativity remains a top skill in the eyes of leaders everywhere. For example, our survey found that creativity is a favored personality trait in online portfolios, college resumes, admissions essays, and online presences for students applying to college admissions. Similarly, the World Economic Forum January 2016 survey found that the ability to think creativity will be one of the most important work skills by 2020 and this is particularly true for high-performing leaders.

Learn how to feed your creativity by getting your thoughts out on paper. Start a journal to reflect on your day. The practice of writing, distilling information, and expressing yourself is a great way to get your creative muscles working. Then, practice expressing yourself to different audiences by creating content on a blog or podcast. You can even make it fun by covering topics you love.

Outgoingness Boosts Your Social Capital

Being socially confident and building relationships in social settings is where extroverts thrive. In fact, extroversion is a great asset in several areas of life.

The KudosWall survey found that 71 percent of admissions professionals say they’re more likely to accept applicants who convey an outgoing, friendly personality than someone who is reserved. Also, a January 2016 study published in the Journal of Organizational Behavior found that extroverts tend to energize the group when team members are getting along.

When you demonstrate social capital and engage well with others, you make a great impression. However, introverts find outgoingness challenging because social situations often drain their energy. Fortunately, this personality trait can be learned. Shift your focus from yourself to others around you. When you’re worried about how you present yourself, it takes you out of the moment. Instead, concentrate on getting to know people in your social setting. Start small by going to new events with people you know.

Intelligence gets you far, but these personality traits bring you the extra mile. If you already possess them, double down. But if they don’t come naturally, start practicing. This shift in your behavior will lead to big success in all aspects of your life.