blog

I recently signed up for a subscription to the magazine The Economist.  I didn’t really need it; most of the content is available for free online, and I’m more limited by time available to read than by great content.  A few years ago, I wouldn’t have spent the hundred bucks a year or so on it.  But recently, I’ve noticed a change in my way of thinking.

You see, even though I’m heavily immersed in technology, I still just prefer to read on plain ol’ paper a lot of the time.  I can carry a book or magazine with me to the kitchen, or sit snuggled in a blanket in bed reading under a lamp.  Even if it sounds silly, I just know that having that paper copy will make me more likely to read and thus learn more.

Now here’s the interesting part.  When trying to justify the cost, I asked myself, what are the odds that learning more about world trends will help me generate $1,000 in value over the next ten years?  I thought the odds were pretty good.  Maybe with some more cultural awareness I’ll be able to help one more Guatemalan entrepreneur find and buy inFlow every year.  Maybe there’s a 1% chance that some trend I picked up on will help lead to a million dollar idea.  This way, everybody wins.  More people benefit from our work, I’m supporting great journalism, and it’s a good financial investment for me.

What really makes this possible though is being in an environment where creating more value can reward me financially.  This is typical for entrepreneurs, but it’s also possible elsewhere, like jobs that are commission-based.  In a typical salaried job though, this type of logic just doesn’t work.  Maybe you can get a raise if contribute some great ideas, but don’t count on it.  All you can really do to have more money available is to pinch pennies.

So that’s why as I’ve shifted from a fixed-income mindset to this variable-income mindset, it’s encouraged me to do more to invest in my own capabilities.  This is incredibly liberating, and yet another reason why I encourage everyone with small business ambitions to go for it!

If you set the bar too low, it’s not worth doing.

If you set the bar too high, it’s unrealistic.

If you set the bar comfortably where people know they can do it, it becomes a mundane chore.

If you set the bar uncomfortably high where people believe they can do it with some hard work and faith, then it becomes an invigorating challenge.

This is the sweet spot to target for yourself and others.


Bonus: The more you stretch, the better you become.

People often ask me how the recession is affecting us.  In my most sagely voice, I respond, “I don’t know”.

We’re continually improving our product, our marketing, and the way we do business.  As a result, we’re continuing to do better, despite the trends in the overall economy.  We might come up with a new way of promoting our product that helps increase sales 50%, or improve the product in such a way that doubles our revenue.  If we remove some roadblock that’s turning away one quarter of your potential customers, we increase sales by 33%.  Perhaps in a more prosperous general economy we’d see our numbers increasing by an extra 10-20%, but that’s just gravy - the things we can do have a much greater impact.

Whether you’re trying to grow your business, cope with extra work for the same money, or find a job; don’t let the economy or the news make you feel helpless.  It may be more of an uphill battle, but it’s still your battle.

Both at work and at home, we’ve all experienced moments when it seems as though we just can’t keep up with all of our responsibilities.  Situations like these can quickly become tipping points where the smallest task, such as making a phone call or responding to an email, can become very difficult and stressful.  While it won’t win you many style points, a system of organization can really come to the rescue when you’re feeling overwhelmed.

How does it all work?  On the subject of organization it’s easy to get swamped in the vast amount of literature out there, which can range from business-oriented how-to’s or philosophies offering to give your life a complete makeover.  The basic principles are generally the same though.  Recording a task somewhere removes it from your mind and reduces the effort you expend on having to remember things.  This freedom allows you to better focus on actually performing tasks instead of worrying about what’s around the corner, or what you shouldn’t be forgetting.

The specifics of task management vary depending on personal needs.  Some people prefer to keep things really simple, relying on the tried and true pen and paper To-Do list.  Others prefer a more detailed approach using desktop and online PC tools that can associate dates, timelines, contacts, locations, and priorities with a given task.

In light of so many options, success comes in using the right tool for the job.  If all that’s needed is to jot down some quick reminders, a task manager laden with features can become more of a burden that deters organization.  After some trial and error, you should be able to find something that works well based on how much effort you want to spend.  Understanding your habits, and how capable they are of adapting, is also critical in figuring out what kind of task manager you are.  Keep in mind that, ultimately, no system of organization will pay off without some kind of maintenance.

While becoming a taskmaster is by no means easy, the rewards can be drastic.  The personal health benefits from stress reduction are accompanied by rises in productivity and efficiency.  When you work within your own system, it becomes easier to schedule and anticipate what you want to work on and when you want to do it.  Preparation, in turn, makes the quality of work higher and provides an opportunity for revision and improvement.  Being able to maintain and stay on top things can also become a great motivator as well as a source of confidence.  Additionally, setting and reaching goals becomes more of a habitual practice.

Most importantly, at its core, a task management attitude makes sure that you don’t forget the little things. Tying up all your loose ends, both in the office and in life, can really put you in the driver’s seat when it comes to getting things done.

If you had two choices:

If you’ve ever sat at your office feeling too tired to get anything done, this article is for you.

When you’re working on creative tasks, people often lack the energy they need to be effective more than the time.  We all have those times when we’re feeling lackluster and those times where we’re ready to kick butt; I know I can be ten times more productive when I’m hyped than when I feel a little drowsy.  If you have the flexibility of choosing when you want to work, you should think about taking advantage of these energy cycles.

For example, I’m not a morning person.  I’m usually most energetic in the mid-afternoon.  I generally try to set up my day to take advantage of this.  In the morning, I’ll take care of easier tasks like writing emails or running errands.  Then when I’m at my most productive, in the mid-afternoon, I’ll set aside a block of time to work on problems that take more concentration.  This is a lot easier if you’ve been able to organize things so that you can choose when you want to work.

Planning your work around your energy is one thing, but there are also things you you can do to increase your energy levels.  Many people rely on caffeine to wake them up.  I find this helps me in doing repetitive tasks, but it makes it harder for me to think creatively.  Doing some exercise is a great way to get the blood flowing through the body and brain.  Eating a light, nutritious lunch is also great.  See what works for you by experimenting.

I just finished reading Steve Pavlina’s new book called Personal Development for Smart People.  It boils down the teachings of hundreds of self-help books into one framework based on the idea that an individual should consciously strive to live with the three core principles of truth, love, and power.  The book is full of practical, down-to-earth ideas about how to develop and apply these principles.

There’s no question that in any small business, the personal effectiveness of its core members is hugely important.  However, I find that thinking of an organization like a separate individual can produce helpful insights.  Let’s take a look at how thinking of the principles of truth, love, and power as applied to a small business can give you ideas to improve.

Truth:
- What external sources can you learn from?  e.g. advisors, blogs, books, similar businesses
- Do all the important people in your company regularly talk directly with customers?
- Do you have easy access to the numbers on the trends for your sales and expenses?
- Do you have easy access to find out how much inventory you have and where?
- Do you have checks and balances in place for your decision-making processes?

Love:
- Do your company’s workspace and culture provide a positive working environment?
- Do your employees feel valued and work together well?
- Does your company build a strong enough bond with its customers to make them want to talk about it?
- How can you further build your company’s reputation and exposure to your target market?
- Is your company socially and environmentally responsible?  What contributions can you make in the community?

Power:
- How quickly can you perform common tasks like invoicing customers?
- How is the financial health of your organization?
- Do you have sufficient cash or credit to invest in new initiatives?
- Do your employees have the right tools and skills to be fully productive?
- How powerfully are you able to respond to change from your customers or competitors?

This multi-dimensional way of thinking can help you identify often neglected aspects of your business that could be improved.

Last time, we talked about how you need to relax to solve difficult problems.  This is part 2 of 2, discussing how can improve your memory and skill by being sure to get a good night’s sleep.

Sleep isn’t just resting, your brain is working on processing your experiences so that when you wake up, you’ll remember things better, pick up new skills faster, and maybe even acquire some new insights.  This is all backed up by studies showing how people performing a variety of tasks (ranging across memory, coordination, and math) do better if they’re allowed to sleep between practise sessions, instead of just relaxing while awake.  Read more.

In fact, you get this benefits not just from nighttime sleep, but also from daytime naps.  Since there’s a natural tendency to be tired in the mid-afternoon, this is a great time to take a nap, also known as a siesta in places where this is the norm.

If working smarter and increased productivity aren’t enough to convince you to get a good night’s sleep and encourage napping at your workplace, keep in mind that well-rested people have better moods, making it easier to work productively with others.

A high-stress, deadline-driven culture in your organization might pump out more mundane work for little while.  But a proper appreciation for rest and relaxation can help you work smarter, developing more game-changing insights and skills.  And it’ll make your organization a much better place to work, helping you to attract and keep great people to work with.