Renaissance for LEADERS

Peak Performance Resources for Leaders by Leaders

glossary

Pain

1. Whatever a person is unwilling to experience. 2. Unpleasant or distressing sensations due to bodily injury or disorder. 3. Acute mental or emotional distress or suffering. 4. A warning something is wrong.

Paradigm

1. A framework of thought, a model, pattern or example used to understand and explain certain aspects of reality. 2. Includes a common set of beliefs, theories, concepts, practices, values, assumptions and agreements that constitute a way of viewing reality. 3. A model.

Paradigm Crash

When a paradigm becomes overwhelmed by change or calamity it causes the individual, group or organization to go into a major shock. This shock stops the forward motion of the paradigm and it stops working. It is the beginning of a rapid downwards spiral.

Paradigm Shift

An irreversible shift from the prevailing paradigm to a new paradigm that operates by a different framework of thought, set of beliefs, theories, concepts, practices, values, assumptions and agreements that drive behavior and produces results. For example when the shift from earth to the sun as the center of solar system transformed the way people related to their place in the universe. In business and investing, a new paradigm is a new way of doing things that have a huge effect on business. New technology completely changes the way people think about or interact with something.

Partnership

An arrangement where parties, known as partners, agree to cooperate to advance their mutual interests. The partners may be individuals, businesses, interest-based organizations, schools, governments or combinations. Organizations may partner to increase the likelihood of each achieving their mission and to amplify their exposure. A partnership may result in issuing and holding equity or may be only governed by a contract. Partnership agreements may be formal, written or unwritten and even unspoken (tacit).

Passive Income

Income received on a regular basis, with little effort required to maintain it.

Some examples of passive income are:

  • Earnings from a business that does not require direct involvement from the owner or merchant.
  • Rent from a property.
  • Royalties from publishing a book or from licensing a patent or other form of intellectual property, software, etc .
  • Earnings from internet ads.
  • Dividend and interest income from owning securities, such as stocks and bonds, is usually referred to as portfolio income.
  • Pensions, retirement payments.

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