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Will You Add? - What Not To Do and How Not To Do IT
These days it’s all too easy to have your credit slip down a few notches. If you are looking to refinance, that’s not where you want to be, but it’s not the end of the world either. Let your FICO score dip below 680 and you could be a candidate for bad credit mortgage refinancing. It depends on the individual lender. Let it get down around 650 or worse and you’ll be a bad credit refinance candidate for sure. With the recent shakeup in the sub-prime lending market, many lenders are being more selective about who they’ll extend refinance loans to. They’ll be looking seriously at your recent credit history. Several sub-prime lenders have ceased operations or declared bankruptcy, so there are fewer options available to borrowers
Ricardo's law boils down to this: do the thing which brings the GREATEST RETURN--and nothing else. That which brings you the greatest value, and only that, is your comparative advantage.
Keep a list of all the separate things you do during the course of a day/week/month. You may think you know, but each time I ask an execu
How can I determine the key difference among each of the Epson ink solutions?There are several key Epson differences when analyzing the multiple solutions scoped out on its targeted media applications. In this article we will cover the 5 main principles. This will diversify the individual output pointing in the technology direction of;•4-Color Dye •6-Color Photo Dye •Durabrite Ink •Ultra Chrome Ink •Archival InkEach one holds its own print quality talent. The different kinds of inks will define how intense the quality is based on the selected media types used. In order to line up the different comparisons where you can understand the standalone measures, you need a good solid breakdo
Can you really do more than you already do? Is there still room left on your plate for even one more thing? The truth is I don't know anyone (successful) who has too little to do. Not one of my many clients--nor any of my friends, acquaintances, or people I meet on planes--none of them has ever said they have too little to do.
Doing more to get more done is simply not an option.
The answer to doing more is doing less.
Less?
Do less?
Are you kidding? How's that going to help? "I don't get enough done as it is," you say, "and there's always more to do at the end of a day!"
Ask this transformational question: Is each activity you currently do providing the greatest possible payback? Or like many people, are you spending much of your precious time doing things which produce a relatively lower return? The key word is relatively.
To do more, you've got to figure out what not to do.
For most people, 100% of our time is filled with 1) routine day-to-day matters, 2) things we told other people we would do and 3) responding to (sometimes trivial) interruptions. To try to make something important happen, we end up shoving that thing into our schedule.
How well does that work? How well does a five pound bag hold ten pounds of stuff? You get the idea--not very well at all. And, of course, all the important stuff ends up spilling out onto the floor.
For some people, the bag is so full--there are so many to-dos on your to-do list, your reach the uncomfortable state of overwhelm. Your creativity gets totally locked out and your mind can't even consider other, perhaps more important things.
You've got to figure out what not to do.
I've done casual research on this subject asking audiences of executives what things they do that they know they shouldn't. This list of guilty pleasures includes answering emails as they come in throughout the day, handling the company finances, interviewing all candidates for all jobs, purchasing, filing, writing marketing copy and advertisements, signing all the checks, exercising final say on small product changes, and so on.
That's not to say these things aren't important--some are, even vitally so. The question is--are these the most important things for YOU to be doing, especially at this point in your organization's development?
Often when I ask these questions, people respond by saying there is no one else who can do THAT as well as they can.
This thinking is typical of what Adam Smith called "absolute advantage." Smith advocated doing all the things which you do better than anyone else. It is obvious, commonsense thinking. The trap for someone who is by nature highly and broadly capable is that you can end up doing everything, reluctant to let go of anything.
To the rescue is 19TH century economist David Ricardo's Law of the Comparative Advantage of Nations. In a bold, counterintuitive bit of reasoning, Ricardo said to maximize wealth, each country should devote its energy to producing goods they sacrificed the least to create. In other words, Comparative Advantage says to produce the goods which create the highest value per unit of work. Everything else, regardless of how much better you do it than anyone else, should be done by others.
Assume your company makes a sophisticated high value product and you can sell as many as you can make. The product uses several cheap components, which by the way, you can also make better and cheaper than anyone else. Ricardo says that given limited resources (your time, for instance) it is a mistake to manufacture any of the components; each unit of time spent making the cheaper components instead of making the high-valued product costs you money --opportunity cost. To make the most profit, spend ALL your time making the high-value product, and purchase the components.
Ricardo's law boils down to this: do the thing which brings the GREATEST RETURN--and nothing else. That which brings you the greatest value, and only that, is your comparative advantage.
Keep a list of all the separate things you do during the course of a day/week/month. You may think you know, but each time I ask an execut
A pen pal is a person with whom a person becomes familiar through an amiable and regular correspondence. In the modern day, a variation has occurred in the traditional method. People write through electronic mail and by chatting with one another on the World Wide Web. By communicating through e-mail, people are able to save money and time. However, these relationships may not last for long.The decision of remaining online pen pals for life may vary according to the relationships and different circumstances. Some people become online pen pals to get rid of loneliness and improve long-distance relationships. At times, online pen pals may send each other pictures of them selves and their family. They may send each other
To do more, you've got to figure out what not to do.
For most people, 100% of our time is filled with 1) routine day-to-day matters, 2) things we told other people we would do and 3) responding to (sometimes trivial) interruptions. To try to make something important happen, we end up shoving that thing into our schedule.
How well does that work? How well does a five pound bag hold ten pounds of stuff? You get the idea--not very well at all. And, of course, all the important stuff ends up spilling out onto the floor.
For some people, the bag is so full--there are so many to-dos on your to-do list, your reach the uncomfortable state of overwhelm. Your creativity gets totally locked out and your mind can't even consider other, perhaps more important things.
You've got to figure out what not to do.
I've done casual research on this subject asking audiences of executives what things they do that they know they shouldn't. This list of guilty pleasures includes answering emails as they come in throughout the day, handling the company finances, interviewing all candidates for all jobs, purchasing, filing, writing marketing copy and advertisements, signing all the checks, exercising final say on small product changes, and so on.
That's not to say these things aren't important--some are, even vitally so. The question is--are these the most important things for YOU to be doing, especially at this point in your organization's development?
Often when I ask these questions, people respond by saying there is no one else who can do THAT as well as they can.
This thinking is typical of what Adam Smith called "absolute advantage." Smith advocated doing all the things which you do better than anyone else. It is obvious, commonsense thinking. The trap for someone who is by nature highly and broadly capable is that you can end up doing everything, reluctant to let go of anything.
To the rescue is 19TH century economist David Ricardo's Law of the Comparative Advantage of Nations. In a bold, counterintuitive bit of reasoning, Ricardo said to maximize wealth, each country should devote its energy to producing goods they sacrificed the least to create. In other words, Comparative Advantage says to produce the goods which create the highest value per unit of work. Everything else, regardless of how much better you do it than anyone else, should be done by others.
Assume your company makes a sophisticated high value product and you can sell as many as you can make. The product uses several cheap components, which by the way, you can also make better and cheaper than anyone else. Ricardo says that given limited resources (your time, for instance) it is a mistake to manufacture any of the components; each unit of time spent making the cheaper components instead of making the high-valued product costs you money --opportunity cost. To make the most profit, spend ALL your time making the high-value product, and purchase the components.
Ricardo's law boils down to this: do the thing which brings the GREATEST RETURN--and nothing else. That which brings you the greatest value, and only that, is your comparative advantage.
Keep a list of all the separate things you do during the course of a day/week/month. You may think you know, but each time I ask an execu
Firing an employee can be difficult. The entire process may be hard for you and organization to work through. There are also legal ramifications that must be considered. To ensure things go smoothly, read these 5 tips on firing an employee.Seek Other AvenuesBefore firing an employee, you need to determine if it is the right course of action. There may be other ways of resolving the problem, such as disciplinary warnings or employee probation.Consider the Legal RamificationsIf you have an "at will" policy, there may be no legal ramifications that you need to consider, but in other situations, you will want to have supportive documentation to explain your decision to fire an emp
I've done casual research on this subject asking audiences of executives what things they do that they know they shouldn't. This list of guilty pleasures includes answering emails as they come in throughout the day, handling the company finances, interviewing all candidates for all jobs, purchasing, filing, writing marketing copy and advertisements, signing all the checks, exercising final say on small product changes, and so on.
That's not to say these things aren't important--some are, even vitally so. The question is--are these the most important things for YOU to be doing, especially at this point in your organization's development?
Often when I ask these questions, people respond by saying there is no one else who can do THAT as well as they can.
This thinking is typical of what Adam Smith called "absolute advantage." Smith advocated doing all the things which you do better than anyone else. It is obvious, commonsense thinking. The trap for someone who is by nature highly and broadly capable is that you can end up doing everything, reluctant to let go of anything.
To the rescue is 19TH century economist David Ricardo's Law of the Comparative Advantage of Nations. In a bold, counterintuitive bit of reasoning, Ricardo said to maximize wealth, each country should devote its energy to producing goods they sacrificed the least to create. In other words, Comparative Advantage says to produce the goods which create the highest value per unit of work. Everything else, regardless of how much better you do it than anyone else, should be done by others.
Assume your company makes a sophisticated high value product and you can sell as many as you can make. The product uses several cheap components, which by the way, you can also make better and cheaper than anyone else. Ricardo says that given limited resources (your time, for instance) it is a mistake to manufacture any of the components; each unit of time spent making the cheaper components instead of making the high-valued product costs you money --opportunity cost. To make the most profit, spend ALL your time making the high-value product, and purchase the components.
Ricardo's law boils down to this: do the thing which brings the GREATEST RETURN--and nothing else. That which brings you the greatest value, and only that, is your comparative advantage.
Keep a list of all the separate things you do during the course of a day/week/month. You may think you know, but each time I ask an execu
One of my previous mentors, Ed Desmond, who passed away many years ago, once told me, “Tim the price of failure is always higher than the price of success.” When Ed shared that concept with me over 40 years ago I didn’t have a clue as to what he was talking about. He tried to explain it but as an nineteen year old in my first sales position – what did I know about success, failure and sales – not much.Over the years I have contemplated this concept in depth and would like to share with you what I know Ed was trying to tell me, but I just wasn’t ready at the time. Having failed a number of times as well as having had some degree of success in my life I now understand where Ed was trying to take me that rainy Friday
To the rescue is 19TH century economist David Ricardo's Law of the Comparative Advantage of Nations. In a bold, counterintuitive bit of reasoning, Ricardo said to maximize wealth, each country should devote its energy to producing goods they sacrificed the least to create. In other words, Comparative Advantage says to produce the goods which create the highest value per unit of work. Everything else, regardless of how much better you do it than anyone else, should be done by others.
Assume your company makes a sophisticated high value product and you can sell as many as you can make. The product uses several cheap components, which by the way, you can also make better and cheaper than anyone else. Ricardo says that given limited resources (your time, for instance) it is a mistake to manufacture any of the components; each unit of time spent making the cheaper components instead of making the high-valued product costs you money --opportunity cost. To make the most profit, spend ALL your time making the high-value product, and purchase the components.
Ricardo's law boils down to this: do the thing which brings the GREATEST RETURN--and nothing else. That which brings you the greatest value, and only that, is your comparative advantage.
Keep a list of all the separate things you do during the course of a day/week/month. You may think you know, but each time I ask an execu
Humor is the best weapon that men can use to win a woman’s heart. If you would visit any dating forum, women always comment or write on their profile that they like men with sense of humor. In fact, 82% of women consistently rank humor as one of the top 3 qualities of men they want to date. If you know how to make any woman laugh, you are ahead of the game and she will eventually fall for you.This is a problem for men who believe that they don’t have a sense of humor. Frustrated that they can’t make any woman laugh and worried that there is no way they could win the heart of the woman they love. But don’t despair, sense of humor can be learned and acquired through right techniques and practice.
Ricardo's law boils down to this: do the thing which brings the GREATEST RETURN--and nothing else. That which brings you the greatest value, and only that, is your comparative advantage.
Keep a list of all the separate things you do during the course of a day/week/month. You may think you know, but each time I ask an executive to try this exercise, they are surprised by the outcome.
Make a notation of what you are doing every 15 minutes. Keep this record for as long as you can--at least two or three days; a week or even two will reveal even more. (You must write this down. The process won't work if you try to keep it in your head.)
What have you been doing? Have you been squandering your comparative advantage?
Is each action on your list HIGHLY PRODUCTIVE? Is each thing on your list MAKING YOU MONEY, or CHANGING THE WORLD (at least a little bit?)
No? Most people spend at least some of their time doing low-contribution activities. For most people, even if they consider what are doing important, there are usually even more important things they should do instead.
Once you've understood how you actually spend your time, you have three possible courses of action:
You can dump things--there are always some things which are of such little value that no one should be doing them.
You can delegate important things to capable people in your organization or outsource them to firms which specialize in those things.
Lastly, YOU can do the things which make the largest difference.
Apply Ricardo's principle of comparative advantage. Figure out what specific actions contribute the most and do only those, offloading or dumping the rest. Do the same analysis for each department and each member of your company and create extraordinary results.
To do more--to get more done in terms of value--you have to do less.
(c) Copyright Paul Lemberg. All rights reserved
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