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Five investments everyone should make in 2020 – The Globe and Mail

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Brian Scudamore is founder and chief executive of O2E Brands, the parent company of 1-800-GOT-JUNK?, WOW 1 DAY PAINTING, You Move Me and Shack Shine.

I’m a cautionary tale of what can happen when you lose balance.

Life can often feel like a juggling act, a constant challenge to find the perfect rhythm, and keep all your balls in the air. I got so obsessed with growing my business in the early days, that I neglected my physical health, my mental well-being and my personal relationships. That had a knock-on effect on my success too, because when I wasn’t healthy and happy, neither was my business.

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And so, as we enter this new decade, our personal and professional lives can all benefit from finding a little more balance. Here are five ways to do just that.

Rethink what “goals” mean to you

Professional goals are important, but it’s crucial you give energy to your personal goals, too. I love the saying, “When was the last time you did something for the first time?” It always reminds me how key it is to try new things. When I want to learn something new, I set SMART goals to keep me on track. For example, when I wanted to learn to speak Italian, I committed to 15 minutes of practice every single day for 100 days. At the end of that time frame, I went to Italy … and was able to hold conversations with locals! When you invest incremental amounts of time, you can achieve everything you ever imagined.

Enjoy the journey

In our productivity-obsessed society, everyone is so focused on the end result that they rarely pause to enjoy the present moment. I used to use money as a motivator for (and an indicator of) success. Ironically, that only stalled our company’s growth. I was too stuck on the need to grow our revenue that I was completely missing the point. Once I took a step back and refocused my priorities, I realized that it is the journey that makes me happy – and that shift in perspective changed everything for me.

Go dark

All too often, people say that they can’t afford to take time off, even though they have paid vacation to use up. It’s a product of “rise and grind” culture: everyone is so plugged in that they don’t even know how to switch off. But real, unplugged, disconnected time off makes you happier, healthier and more productive. That’s why we insist that our employees “go dark” while they’re on holiday. No work e-mails, phone calls or checking in! I do this too, and it’s made me a better leader. I even get someone to change my passwords so that I’m not tempted to have a “quick check” of my e-mails. It’s liberating!

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Use your energy wisely

I used to think working 16-hour days was proof that I was the perfect leader. In reality, I was overworking out of fear – of failure, of looking weak and of letting go. Now I understand that burning the midnight oil will only end up burning you out. Hustle has a time and place, but so does rest, so get strategic about how (and when) you use your energy. Instead of adding more balls to your juggling act, start putting some of them down. Saying “no” to things has given me more time to focus on the things that truly matter.

Protect the glass balls above all else

When I was pulling those long hours and grinding it out to grow my business, I completely neglected my health. I wasn’t eating or sleeping right, and I started suffering from severe anxiety and panic attacks. My body was telling me to slow down but I wasn’t listening. If you’re feeling stressed, overwhelmed or overworked, take it as a sign to take a break. Because all those balls you have to juggle? Most of them are rubber and can be picked back up – but others, like your health, are glass. Once they shatter, it’s virtually impossible to fully repair them.

As you look to the next month, year and decade ahead, I encourage you to take a step back and carve out some time for you – physically, mentally and emotionally. Because you can’t take care of anything (or anyone) else until you take care of yourself first.

This column is part of Globe Careers’ Leadership Lab series, where executives and experts share their views and advice about leadership and management. Follow us at @Globe_Careers. Find all Leadership Lab stories at tgam.ca/leadershiplab.

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Investment

Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

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NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1% gain for the year after rising the past two days.

The Canadian Press. All rights reserved.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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