‘The golden circle’, the reason for success

The English motivational speaker Simon Sinek has developed a whole theory to explain why some companies and some professionals achieve success. He has called this theory ‘The golden circle’. Head of agents Lara de Castro explains how we can take advantage of this inspiration to succeed in business.

According to Sinek, the secret lies in the way we explain things: how do we inspire others, how do we convey our ideas and projects, how do we make others believe as much as you do in the initiatives you want to undertake? The key is to start with the why, then move on to the how, and finally explain the what. The 11Onze project, for example, can be explained in a conventional way or using ‘The golden circle’ method. Which of the two stories do you connect with more? Watch the video below, and find out!

11Onze is becoming a phenomenon as the first Fintech community in Catalonia. Now, it releases the first version of El Canut, the super app of 11Onze, for Android and Apple. El Canut, the first universal account can be opened in Catalan territory.

Surely you’ve heard the word start-up more than once. But what does it mean? What skills do you need to work at one?

A start-up is an emerging, newly-created company, with high growth potential, linked to new technologies or innovative business models, and with a high rate of return.

To work at one, you need to have a passion for your project, motivation to bring it to fruition, flexibility to dedicate hours to it and do the tasks that must be carried out, and commitment to the company. But if you do what you love, can it be considered work? 

5 key skills to work at a start-up

• Proactivity: these types of companies do not just look for people in search of work, but want professionals that offer them services and believe in the idea. 
• Positive attitude and professionalism. Not only do they look at resumes, but they also value the energy that candidates exude. Attitude will be key.
• Adaptation: people who adapt to everything and are willing to pursue their passion, who are disruptive, too, and don’t settle for everything. 
• Differentiation: they look for passion rather than talent, people who believe in the project, who share the values of the start-up. You have to be different and creative.
• Flexibility: versatile people with autonomy.

Focused on work by goals 

You can already say goodbye to schedules: the traditional office workday has no place in a start-up, and priority is given to the project and delivery times. You have to be careful, because this becomes a double-edged sword: it favours the flexibility of workers’ schedules, but at the same time you can work too many hours if you do not manage this properly. 

In most cases, it will be indifferent whether you prefer to work in the morning, in the afternoon, or on Sunday night: what matters is that the task is delivered when it has to. Everyone needs to be organized in the way that is most productive for them. Generally, specialized people are sought, but, taking into account the work methodology, it is equally important that they are flexible, open-minded, good team workers, good learners, and quickly adaptable to change.

Dismantling myths about start-ups

The flexibility and constant change of start-ups implies, even if it seems the opposite, more organization than in conventional companies. If you have not been selected as a candidate, the best thing you can do is keep in touch, as there may be a place for you in the future. It is also not true that it is limited to young people: they need experienced people and, contrary to popular belief, if the company has good future prospects, salaries are usually competitive.

The selection process is also not usually traditional, as personal and professional characteristics that go beyond the curriculum are valued. The preparation for the interview will be key: find out what they do and how they work, and look for aspects of the project in which you can contribute. And, above all, be different. Any HR person is used to seeing hundreds of resumes a day. Do not miss the opportunity, and take out your best weapons to attract attention. Get away from the conventional. It is a good idea to achieve other skills apart from the current one, to train in other skills such as Excel, HTML, or WordPress. Note that most start-ups revolve around technology, and sooner or later you will have to use them. 

Proactivity and emotional intelligence: the combination of success

Working at a start-up will be an adventure where nothing is permanent. Even your position may change, and you may end up in a different department. Remember the skills above, and don’t be afraid to make mistakes. Proactivity will be your best ally.

Lastly, you need to have knowledge of emotional intelligence, to manage behaviour, relationships, and decisions. For everything that happens to bring you to fruition, you must reduce negative emotions, know how to manage stress, be more assertive, stay proactive, and bounce back to adversity. Paying close attention to the emotions of oneself and others, especially in difficult times or of a certain intensity, will help us a lot.

What matters in a start-up is the will to improve, to do whatever it takes, and to have the passion to do it.

If you want your business to make a giant leap, use 11Onze Business. Our business and freelancer account is now available. Find out more!

T’has llegit la pòlissa de la teva assegurança de la llar? L’error més habitual en contractar una assegurança és no revisar quines cobertures inclou la pòlissa. Per evitar sorpreses desagradables d’última hora, et detallem alguns punts del contracte en els que t’has de fixar.

La cobertura de continent cobreix els costos de reparació o reconstrucció del teu habitatge en cas de desgràcia. Per a diferenciar-ho del contingut, una fórmula molt gràfica és imaginar que podem posar el nostre habitatge cap per avall. Tot el que cauria seria contingut, mentre que el que no cauria seria continent.

Cal tenir en compte que el valor de la cobertura de continent no representa el preu de compra o el valor de mercat del teu habitatge. Tampoc hauria d’incloure el valor del sòl sobre el qual es va construir la casa o l’edifici. En realitat, és la quantitat que es necessitaria per reconstruir l’habitatge i deixar-lo com estava. Aquest valor es coneix com a “cost de reconstrucció”.

L’assegurança de llar també inclou una secció dedicada al “contingut”, és a dir, les teves coses (televisor, roba, ordinador, bicicleta, etc.). L’import que apareix en aquesta secció és la quantitat que l’assegurança et pagarà com a màxim si passa alguna cosa amb les teves coses, d’aquí que hagi de correspondre’s més o menys amb el seu valor real.

Les clàusules de la pòlissa, a examen

Aquí tens alguns elements que hauries de tenir en compte per no pagar de més i que l’assegurança no et pagui de menys en cas de sinistre:

• Evita duplicitats. Si la teva finca té assegurança, comprova les seves cobertures, ja que podràs excloure de la pòlissa particular els elements del continent que ja estiguin inclosos en l’assegurança comunitària. Tingues en compte que, en cas de sinistre, si un element està cobert tant per l’assegurança comunitària com pel teu particular, no el cobraràs dues vegades.
• Assegura’t que la valoració del continent és correcta. Si els capitals assegurats estan molt per sobre del valor de la teva casa, estàs pagant per una protecció que no necessites, ja que en cas de sinistre l’assegurança només pagarà la reconstrucció, res més. I, en el sentit contrari, si el valor de reconstrucció de la teva casa està per sobre dels capitals assegurats, l’asseguradora només pagarà fins als capitals assegurats, deixant-te coix en la teva recuperació. Per tant, has d’ajustar la pòlissa perquè estigui lleugerament per sobre del valor de la teva casa, però sense pagar per una cobertura innecessària. De manera orientativa, tingues en compte que la valoració hauria d’oscil·lar entre uns 800 euros per metre quadrat en els pisos normals i els 1.300 euros en una casa unifamiliar.
• Comprova que la valoració del contingut és adequada. Tingues en compte que les assegurances imposen límits al valor individual de les teves coses que cobreixen per defecte. Normalment, els teus objectes valuosos necessitaran una cobertura addicional. Per tant, cal que els donis d’alta o la teva companyia només et retornarà fins al límit individual que tens per defecte en la teva pòlissa. Et recomanem fer fotos (o un vídeo) de totes les teves coses. Per a estimar el seu valor, convé fer primer una llista amb els objectes de valor i calcular el seu cost, i després estimar la xifra dels articles menys valuosos, com roba i utensilis de cuina, i arrodonir el seu valor.
• Vigila com es reflecteix la cobertura dels vidres. La cobertura de vidres inclou des de finestres fins a miralls. Has d’assegurar-te que les finestres s’incloguin dins del capital i cobertures de continent, mentre que els miralls interiors s’inclouen en el contingut. De vegades les asseguradores utilitzen aquesta separació per excloure part dels vidres de la cobertura, així que fixa’t si tots estan coberts.
• Tingues en compte la cobertura dels danys estètics i la pisa sanitària. Banys, plaques de cocció i altres elements han d’estar protegits per aquestes cobertures. Algunes asseguradores inclouen aquests elements com a part del contingut, la qual cosa pot perjudicar-te si el capital assegurat està per sota del real. A més, pot fer que banys i cuines quedin fora de cobertures específiques, com els danys estètics, si només es cobreixen els danys del continent i banys i cuines es consideren contingut. Has de comprovar que la cobertura de danys estètics cobreix les reparacions necessàries per a mantenir la uniformitat estètica de la teva casa després d’un sinistre, ja que les asseguradores juguen molt amb les limitacions d’aquesta cobertura, especialment en banys i cuines. Comprova que la teva pòlissa cobreix la pisa sanitària com a continent i no té exclusions ocultes. Ni tampoc els danys estètics, que han de cobrir un capital mínim de 2.000 euros.
• Assegura’t que l’assegurança cobreix el valor de reposició del contingut. El valor real és el valor que calculen la majoria de les asseguradores per a substituir les teves coses robades o danyades. Es calcula partint del que costaria avui aquest mateix article (el valor de reposició) restant la pèrdua de valor a causa de l’edat, el desgast i els trencaments (depreciació). D’aquí la importància que l’assegurança no cobreixi el valor real, sinó el valor de reposició, que ve a ser el preu pel qual es podria comprar avui el teu article (de la mateixa marca i model) si fos nou. En definitiva, el valor de reposició és el preu de mercat. Si la teva assegurança utilitza el valor real, probablement et compensa buscar una assegurança amb preu similar que utilitzi el valor de reposició.
• Comprova que la pòlissa s’inclou defensa legal. Sense aquesta cobertura, la teva assegurança no t’oferirà el suport d’un advocat en cas de conflicte legal. Aquesta és una de les primeres cobertures que les asseguradores tendeixen a retallar per oferir preus més baixos.
• Repassa si el preu contempla els elements de seguretat. El fet de posar una porta de seguretat fa que la majoria de les assegurances abaixin el preu de les cobertures relacionades amb robatori. I el mateix succeeix amb mesures de seguretat com a alarmes o reixes. També elements com a sensors de fum o aigua haurien d’ajudar-te a reduir el preu de les cobertures relacionades amb aigua i foc. Assegura’t que aquests modificadors estan inclosos en la teva assegurança si els tens.

Com a resum, podem destacar que és fonamental que revisis els capitals assegurats i l’adequació a les característiques del teu habitatge; comprovis que tots els límits són correctes i cobreixen allò que esperes, i que la teva assegurança contempla alguns modificadors en el preu per ajustar l’import que pagues cada any als canvis que realitzes en la teva llar.

Si vols conèixer una assegurança justa per a la teva llar i per a la societat, descobreix 11Onze Segurs.

Are you required to take home insurance in order to get a mortgage? The answer is yes. But that does not mean you must take it out with the bank that has granted you the mortgage. And if you have done so, you have the right to change it to any insurance company that offers you better conditions. We explain how to do it.

Traditionally, banks have taken advantage of the granting of a mortgage to force you to take out other products, especially home and life insurance, in most cases with uncompetitive conditions. Fortunately, the mortgage law of 2019 makes it clear that, although the financial entity can demand the contracting of home insurance, the client has the right to contract it with the company that offers the best conditions. And they can even change insurer if they wish to do so.

The only condition for changing is to wait for the annual expiry of the policy contracted with the bank. By giving formal notice two months before the expiry of the policy, the customer can indicate to the bank his or her decision not to renew the home insurance contract when it expires.

In addition, the user must present the bank with a copy of the new policy, which must include the assignment of rights corresponding to the capital that is still subject to mortgage. This is a formality that the new insurance company can help you to do correctly.

Linked interests

A thorny issue when changing insurance is usually the linking of the mortgage interest rate with the insurance contract with the bank. In fact, it is likely that the mortgage clauses contemplate a rise in the interest rate if the insurance is not taken out with the bank.

In this case, it is necessary to be careful not to lose out financially and to calculate how much we gain and how much we lose with the change. There can be a slight financial loss in the first years of the mortgage, when the part of the instalment corresponding to interest is very high and that of capital amortisation is very low. However, as the years go by, the impact of the interest rate becomes minimal because almost everything we pay is capital, so this coercive clause is no longer an impediment to changing the home insurance to another insurer.

Using a mortgage calculator, it is possible to find out the exact date when it is in our interest to change to another insurance company to get better conditions and price. The savings can be significant, more often than we thought so.

If you want to discover fair insurance for your home and for society, check 11Onze Segurs.

The confinement in the wake of the pandemic popularised remote working. A trend that has blurred the boundary between the office and our personal lives. Workation is a new form of telecommuting that merges work and holidays.

For anyone who has the option to work remotely, the benefits of taking a workation, the sum of ‘work’ and ‘vacation’, are hard to pass up. Until 2019, the image of working from a laptop with a panoramic view in the background was almost exclusively associated with a digital nomad lifestyle, but, thanks to the sanitary crisis, telecommuting became exponentially more popular.

This new form of remote work is not designed for you to work while on holiday, but to work as if you were on holiday. Setting up our office in a place we would normally only visit when we are on holiday can have many benefits beyond the view.

You’ll still have all the essentials you were used to in office life and many luxuries you didn’t have

From sturdy workstations built for hours of tapping away on your laptop, access to conference rooms made available when needed, all the way to a strong Wi-Fi connection that won’t quit, many hotels offer a large variety of beautifully designed spaces that you can move through depending on your mood and preferences.

In many ways, hotels served as the original version of coworking spaces, it was common to see people in suits with laptops flipped open while enjoying a meal in the restaurant. Today, you’re more likely to find someone wearing shorts and flip-flops.

You’ll increase your productivity

As digital nomads are 13% more productive than their in-office counterparts, it turns out employers also see the benefit in their employees working from abroad. Being able to work in a space tailored to individual needs and preferences, as well as having uninterrupted blocks of time during the day, all means that people are not only more productive and comfortable at work, but they’re also much more willing to occasionally put in extra hours in order to get things done.

Your mental health will thank you

Feeling the winter blues coming on? Getting overwhelmed by work, or finding it tough to keep up with office politics? Maybe you could use a change from the home-to-office routine you’ve become so used to; something to remind you that life is for living, and not just working and commuting.

You’ll relax, without having to take time off work

Many hotels have amenities that, let’s face it—most of us simply just don’t have at work or home. Ditch the communal shower, pool table, and stiff massage chairs in favour of the hotel pool, steam room, and sauna—where you can unwind after a day of hard work, without even going outside. The more you use those precious after-work hours to unwind and recharge, the more you go into your working hours feeling fulfilled, refreshed, and focused.

You’ll discover new places 

Exchange predictable commutes for lengthy walks in an unfamiliar city; explore different districts and restaurant recommendations; try your hand at leisure photography; or broaden your horizons by meeting locals and doing a deep dive into your local culture. Become friends with the barista at that coffee shop you frequent daily, or do some research on where to go and what to see from your new location.

Do you love to travel? With 11Onze Viatges you can book accommodation at the best price, without stifling the travel industry.

However, it seems obvious that in order to learn how to manage our money, it is essential that we have earned it first. Diversifying our earnings is a strategy that can shield us against a possible recession or an unforeseen event. At 11Onze we have compiled three basic tips on how to do this.

In times of uncertainty it is key to know the answers to: how to save, how to grow savings and how to control spending. We will hardly be experts in finding answers to all three questions at the same time, but if we understand the concepts behind each of them, we have a much better chance of managing our money properly. Not only will we learn to cover the basic needs, but we will know how to enjoy them, and we will be very clear about when we should do without those that are not as basic as we thought.

Saving: at least 10% of income

It is often said that saving is the main basis for financial success. Having money in savings is what gives us the ability to respond to unforeseen situations – be it incapacity due to illness or unexpected charges, starting a business or going back to school. But it is important not to confuse saving with investing: while the former gives us peace of mind, even in times of global economic crisis, investing can make our savings multiply, but it can also be a source of headaches and cause us to lose our liquidity.

One dilemma we may face is whether to pay off debt or save. It all depends on the interest rate of the debt. In high-interest cases, such as credit card debt, it is generally preferable to pay off the debt to zero before considering saving. But in cases where the interest on the debt is low, such as with a mortgage or even a personal loan, it makes sense to save and at the same time pay off the debt slowly.

Slow growth, low risk, and the other way around

A savings account has been the most traditional way to grow our money, especially for the more conservative and risk-averse. However, with relatively low interest rates and inflation visiting us much more often than desirable, other forms of investment are gaining ground, especially in the face of an increasingly financially literate clientele with a relatively higher purchasing power than previous generations.

At this point, the range of investment products on offer is wide and varied, with different levels of risk. Everyone must be aware of their financial knowledge and, above all, of the amount of money they are prepared to risk and lose, especially if the expectation of growth is high and in the short term. It should be borne in mind that an investment manager can be a very good option when it comes to choosing a financial product that will substantially improve the profitability of one’s savings.

Spending: need vs. want

Of course, we will not save everything we earn, but we must distinguish between two types of expenses:

• Necessities. Here we count expenses on the basics we need to live, such as food, accommodation, electricity supplies, water, public transport, among others.
• More superfluous wants and products. By elimination, we include everything that is not strictly necessary. This would include impulse purchases, luxury items, leisure travel, etc.

Making this distinction does not imply that we cannot spend money on things we want, but do not necessarily need. Desire and actions that do not have a purely practical purpose are part of the human condition. This is a fact. Therefore, we must also allow ourselves these expenses, provided we adhere to a pre-set budget, whether weekly or monthly.

11Onze is the community fintech of Catalonia. Open an account by downloading the app El Canut for Android or iOS and join the revolution!

Taking out home insurance is essential to protect ourselves against incidents that may affect our home, but it is often not easy to understand the policy terminology. We explain some basic concepts you ought to know.

A home insurance policy is a contract by which the policyholder (the person who takes out the policy) pays a premium (amount of money) to the insurance company in exchange for being guaranteed coverage for a risk that is defined in the policy. For this reason, it is important that, when taking out the policy, you study each of the clauses of the contract carefully. We help you to familiarise yourself with the terminology used by the insurer to make the whole process easier.

Building

The building is understood to be all the structural elements of a property, that is to say, the foundations, walls, ceilings, doors, windows, as well as the electrical installation, water and security devices. Basically, all those elements that if we were to turn the house upside down would not fall, as well as any structure attached to it (the garage, the swimming pool…).

You have to bear in mind that each insurance company may have small variations when considering which elements make up the building. Even so, you should be aware that the amount of the building cover does not represent the purchase price or the current market value, but the cost of rebuilding the home.

Contents

The contents refer to all those elements or goods found inside the property: furniture, electrical appliances and other electronic devices, as well as clothing, jewellery, works of art and any valuable personal effects. Contents cover can help you recover the cost of replacing your items that have been damaged in various situations, or that you have lost in the event of theft.

Bear in mind that you will need to make a list of all items before taking out insurance, and belongings above specifically stated values will require additional cover. It is also important to remember to let the company know if you want to add any new items you have acquired after signing the policy.

Civil Liability

Civil liability cover protects against damage caused to third parties by those legally responsible. In the case of home insurance, it covers the person who has taken out the policy or any member of their family (including pets if they are added to the policy) living in the home, for incidents in the home that may affect another person.

This is an essential type of cover in any home insurance policy. A water leak that causes damage on the floor below, a flowerpot that falls from your balcony onto a car, or the breakage of a neighbour’s window while your children are playing ball, are examples of incidents that would be covered.

Watch out for the small print

Yes, it’s a no-brainer, but we must read the small print of our policy carefully to avoid last-minute surprises. For example, terms such as burglary and theft may seem similar, but while many policies cover damage caused in case of burglary (subtraction of property by use of force or violence), other companies do not insure you in case of theft (theft of property due to negligence), as may be the case if you have left your front door open.

The lack of maintenance of a property or not taking the corresponding precautions if you have a dangerous dog are two more examples of imprudent actions that could be classified as negligence, and which would not be covered by the majority of home insurance policies.

And finally, shop around before you buy. The insurance market offer is very varied thanks to the entry of insurtech and the competition between different companies. Take the time to make a comparative study that will allow you to find the option that best suits your needs and the type of home you want to insure.

If you want to discover fair insurance for your home and for society, check 11Onze Segurs.

Beyond the convenience of having home insurance to deal with unforeseen events, there are circumstances in which homeowners or tenants may be legally obliged to take out this type of insurance.

Seven out of ten people in Catalonia already have home insurance. In many cases, having such insurance is simply a matter of choice to save headaches in the event of a claim. However, in other situations, homeowners or tenants are legally obliged to take out such insurance.

As 11Onze agent Amadeu Vilaginés points out, a homeowner may be obliged to take out home insurance when applying for a mortgage, but he clarifies that the bank can only oblige us to take out basic cover and that we are free to do so with the insurer of our choice, as stipulated by European regulations. In the case of tenants, they are only obliged to take out this type of insurance when this is indicated in the signed rental contract.

If you want to discover fair insurance for your home and for society, check 11Onze Segurs.

What will the job of the future look like and what skills will we need to succeed? To answer these two questions, the McKinsey Global Institute has conducted extensive research and concluded that we will need to master at least 56 skills to secure a job, higher wages and greater well-being at work.

The institute has classified these 56 skills in the study into four broad blocks: manual and physical skills, which will be of decreasing interest; and high-value technological, social and cognitive skills, which are gaining in importance. The McKinsey Global Institute surveyed more than 18,000 people in 15 countries and aims to get governments and companies to prioritise work teams that meet these requirements.

For starters, the institute points out in the report that, while there will continue to be many skilled jobs, the new technological revolution we are heading towards, which has been accelerated by the pandemic, will increasingly require more dynamic, creative and digital people. It will therefore be essential to add value to the automated and artificially intelligent systems that are taking hold in many companies. It will also be necessary to adapt and train constantly in the digital environment, achieving new skills. For this reason, they believe that governments need to start promoting new educational plans to prepare adults and young people for the new scenario.

Cognitive skills: creativity and adaptability

1. Solving problems in a structured way.
2. Control logical reasoning.
3. Understanding differential features.
4. Knowing how to search for relevant information.
5. Organise a work plan.
6. Prioritise tasks within a given time.
7. Agility of thought.
8. Ease of learning.
9. Good public speaking skills.
10. To get the right questions right.
11. Synthesising messages.
12. Listening skills.
13. Imagination and creativity.
14. Transferring knowledge to different contexts.
15. Adopting different perspectives.
16. Adaptability

Interpersonal skills: empathy and collaboration

1. Modifying the role when necessary.
2. Reaching consensus.
3. Always having an inspiring vision.
4. Organisational awareness.
5. Demonstrate empathy.
6. Inspire trust.
7. Maintain humility.
8. Be sociable.
9. Encourage diversity.
10. Motivate emotional situations.
11. Resolving conflicts.
12. Collaborate.
13. Helping.
14. Empower

Leadership skills: integrity and motivation

1. Understanding the emotions of others.
2. Having self-control.
3. Knowing one’s own strengths.
4. Integrity.
5. Knowing how to motivate oneself.
6. Self-confidence.
7. Taking risky decisions.
8. Leading change and innovation.
9. Energy, passion and optimism.
10. Break the mould.
11. decisiveness
12. Clear direction.
13. Persistence and perseverance.
14. Accepting uncertainty.
15. Striving for emancipation.

Technology skills: cybersecurity and ethics

1. More digital literacy.
2. Expanding digital knowledge.
3. Knowledge of digital collaboration networks.
4. Digital ethics.
5. Learn programming.
6. Know how to analyse data and statistics.
7. Have algorithmic thinking.
8. Be trained in Big Data.
9. Know about cybersecurity.
10. Be up to date in intelligent systems.
11. Know how to translate technology into useful actions.

If you want your business to make a giant leap, use 11Onze Business. Our business and freelancer account is now available. Find out more!

The framing effect is a cognitive bias according to which the same information, presented in different ways, can lead us to different conclusions. Lara de Castro, from the Human Resources team at 11Onze, explains how this distortion of perception can affect our day-to-day decisions.

We all like to think that when it comes to making a decision or a choice we follow our criteria with a certain objectivity, but as Lara de Castro explains, “our critical thinking is not as impartial as we think it is, but rather we respond according to how the question is posed to us”.

There are countless examples of how cognitive bias determines people’s decision-making. It is a cognitive framework where people decide on one option or the other depending on whether the options are presented with positive or negative connotations. For example, if you have to undergo surgery, and you have to sign a document to give your consent: if you are told that there is a 90% chance that it will go well, you are more likely to sign the document than if you are told that there is a 10% chance that it will go badly.

Taking advantage of this intrinsic cognitive bias in people based on how the brain makes comparisons between positive vs. negative, loss vs. gain, better vs. worse, etc., makes it easier for “people, governments and companies that dominate communication to do what they want with us”, says de Castro.

De Castro makes a reflection in this sense: “If we focus on the world of finance, this bias is even scarier, because it suggests that the decisions you make in relation to your personal finances are determined by the way the question is posed, and by whom it is posed”. Hence, the importance of financial education, as being informed is the only antidote that has been shown to be effective against marketing techniques that exploit cognitive bias to influence our decision-making.

11Onze is the community fintech of Catalonia. Open an account by downloading the super app El Canut for Android or iOS and join the revolution!