bizRichard

Apologies - this post was set for release back in December - but for some reason it got overlooked.  But even if the comments about Christmas are no longer timely, the rest certainly is - and we should be doing more to get our work-life balance back in harmony again.

It’s known that we are a nation of ‘workaholics’ – but I was surprised at the results of a couple of surveys I came across recently – and a somewhat timely reminder as we approach annual festivities.

According to research by Bibby Financial Services, nearly 67% of businessmen will cancel romantic plans with partners at the last minute in order to bring in new business, and 33% will miss important meetings about their children’s education.

This same survey also found that over 50%of business owners will relinquish holiday plans to win business and nearly 90% will work late regardless of pre-existing family plans.

Another study, by Clydesdale Bank, found that roughly 10%of businessmen and women are likely to miss Christmas day festivities with their families due to work commitments.

And the research also showed that Christmas is not the only holiday that overworked businesspeople are sacrificing - more than one in five respondents said they had missed their child’s birthday in the last year.

And all these surveys were done before the ‘difficult’ trading conditions in which so many now find themselves - so the situation, I perdict, is only going to get worse!

Well, I leave you to your own thoughts on this one – but isn’t it sad that business owners can’t get to learn how to ‘sharpen’ up their businesses, to work smarter, and to build into their schedules plenty of time for those wonderful moments - to share, enjoy and live - the the very reasons we are on this planet for.

Just take a moment to look at your diary for next year and ‘book’ in, right now, time for you and your family - holidays, birthdays, anniversaries, whatever - these are perhaps your most important dates of the year. 

Keep those promises, and I can guarantee that your year will become that much more rewarding and fulfilling.  So, go fill those dates in now.

Richard C

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As some of you will know, one of my pet subjects is ‘communication’ – and by that I don’t just mean talking, letters, telephone calls etc.

Communication is about absolutely everything you do.  Everyday basics, such as how you dress, how you move, what you look at, what you read, who you ‘hang out’ with, etc, all tell your ‘observers’ a story; how you react to and respond to given situations tells even more about your character and your abilities. And when it comes to talking, the sincerity of what you say, how you say it, and the words you use are either supported or contradicted by the non-verbal communications – the body language - you deliver at the same time.

And for those charlatans (a minority I’m sure), who pretend to be someone they are not, dropping your guard can catch you out – especially on the impersonal environment of the internet. 

Have a quick read of this extract from ‘careerbuilder.com’ - I found it interesting in that it enabled 3rd parties to identify the positive or the negative characteristics of the individuals they were interested in. 

Having read it, what are your thoughts on this new personality ‘spy’.  I think the employers have been extremely resourceful and innovative, and thereby saved themselves and their prospects a whole load of time and grief.

So, where is this leading me?

It’s the very essence of why you are here on the internet - it’s the way you communicate through your blogs, your comments, and your web-sites. 

Don’t pretend to be someone you are not.  Be the ‘genuine you’ and let your true character, your skills and abilities, shine through – whatever they be. 

That way you will find and build a relationship with people who like you, trust you, and like the way you do things – they will become your ‘genuine’ customers, the only sort of customers on which any sustainable business can be built.

So, be highly visible, but always be the true you, and make some money the smart way.

Richard C

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There are several schools of thought about personal strengths and weaknesses.

One reckons on “working to eliminate your weaknesses so that you’ll become better in those areas” - to become so accomplished that you’ll be virtually ‘unstoppable’.

The other reckons on the opposite view, “work on your strengths and have someone else do all the other things” – things that you either don’t enjoy doing or the things you’re simply not very good at.

Which camp are you in – making yourself more accomplished, or getting someone else to do it for you?

Stop reading for a moment – just pause a while and think about what you do.

Then let me tell you where I’m going with this one.

I used to be in the first camp - I loved the challenge of learning and improving on those things I wasn’t too good at – and I still do. But, increasingly I’ve switched camps now - because I realise that working on your weaknesses is probably one of the most imprudent things you can waste time on. It is not only unproductive, but it costs you time and money – and time is one of those most precious and irreplaceable resources that once spent, can never be replaced.

Here, let’s take a closer look.

When you focus on your weaknesses, unless it is something you really want to do, not only is it taking your time, you’re probably always going to be in a state of conflict and dissatisfaction with yourself until you reach ‘perfection’. And nothing is more damaging or crushing to your own self-esteem and feelings of accomplishment than continually feeling dissatisfied with yourself and your performance.

I’m not saying to ‘stick your head in the sand’ and ignore your weaknesses – no – clearly you, must continually strive to learn and improve yourself – to stay in command of your life. But what I am saying is that to set your whole focus on improving your weaknesses, to the detriment of getting on, is seldom going to get you anywhere effectively or fast.

The amount of time you spend trying to get better at something you’re simply not good at is, in all probability, time wasted – it uses up valuable time that could have been used more effectively working on something you’re extremely good at.

Would you rather spend 10 hours laying bricks, for example, something you’re not particularly good at and may regret doing, or would you rather spend those 10 hours writing a piece of software you can sell, or 10 hours doing something else you thrive on?

Which of these activities makes you feel better and allows you to achieve more in your life and your business?

The derivative of what we are discussing basically comes down to the relative opportunity costs. How much will it cost you to hire someone to do your bricklaying, or whatever - versus how much you could earn applying your energies and time to the things you are good at? Or even spending precious time with family and friends?

At the end of the day, it boils down to common sense and a willingness and open-mindedness to do things differently. And doing things differently is the ONLY way to shift your earnings, and your mindset, upwards

And, life’s too short to do the things you don’t like. And since, in theory, you’re in control of your own life, why would you want to do things any other way?

Get out there and run your life the SMART way

Richard C

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One of the UK’s less admirable gifts to world culture is the “chav”.

For those lucky to be confined to the sleepy lanes of Hampstead (or, even better, resident overseas), I should perhaps explain that the “chav” is a particularly loathsome breed of local youth, whose semi-illiteracy is matched only by the predictability of their clothing (cheap, derivative), diet (cheap, fast, chemical) and cars (cheap, rusty, excessively noisy). They also shout incoherently a lot, even in normal conversation, in a dialect which is part stolen from elements of US rap culture, part made up, and part absolute drivel.

Undeterred, Martin Baum, with the aid of his 13 year old son, has re-written 15 of the Immortal Bard’s (our William Shakespeare’s) greatest works into ‘chav-speak’. Quite what the point of his doing all this is, evades me somewhat. Anyway, if you fancy sampling the revised works, you will find them on Mr. Baum’s web site (and can buy the complete 15 works for anyone you really dislike). I note one of the masterpieces duly mutilated is “Romeo and his Fit Bitch Jools”       (My thanks to Ewen Cameron for the above) 

However, despite the humorous element of the above, there is a very serious point to be made here – and that is the importance of ‘effective communication’.

We all know that languages, dialects and accents do change and evolve over time due to a number of reasons (none of which there is any point in touching on here). But, do take 10 minutes out from your heavy schedule to look, objectively, at the way you write your letters, your reports, and your advertising material.

Does your communication look old fashioned, the same as it did when you left school? Is it too flat, too serious, too light, too technical, etc etc? Or is it more modern, daring, and grammatically challenging? Does it reflect YOU, as a character, your role in society, or your position the business community?

And, most importantly, does it resonate with your audience – your customers, clients or patients?

If you can’t communicate with your customer - and in using the term ‘you’ I include all of your team members in your business - then what hope do you have of generating that ‘wow’ factor needed to keep your customers. You need your customers to keep talking about you, to keep coming back to buy more and more, and they will only do this if they like you, get on with you, and enjoy communicating with you?

So go out there – be smart, speak the right language to your customers, and keep them for ever!

Richard C

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“As far as the laws of mathematics refer to reality, they are not certain, and as far as they are certain, they do not refer to reality”
Albert Einstein

Clearly I can’t let the week go by without joining in with a ‘topical’ comment of some sort!  After all, those who know me will understand, although I’m not anything of a political animal, how irresistible I find the opportunity.

In this increasingly bizarre fiscal scene, occupied (controlled) by Gordon Brown, even the numbers seem to work differently, depending on where you stand. In Prime Minister’s Question time, accused of the highest taxes in British history, GB said that the current tax take was only “around 37% of GDP”.

But the Office for National Statistics reckon it’s 39%! 

And the IMF, who have probably got it more accurate still, say it’s 42.5%.

Oh well, what’s 5% of GDP between friends.

But, as proof there’s still some justice in the world, the week ended, of course, with Labour’s most comprehensive drubbing in the local elections in forty years. Gordo, unsurprisingly, said he was “disappointed”.  Not for the few, but the many, naturally.  (Perhaps someone ought to let him into a ’secret’ and tell him that we, as an inteligent nation, are able to think and do work things out for ourselves sometimes!)

PS.  If anyone can get a copy of the week’s most notable P45, I (and a few others too) would love a copy.  It’s easy to identify - the employee’s name “K Livingstone” will be the giveaway.

Now, go out there and make some money – the SMART way – which includes minimising taxes – It’s what you keep that matters most!

Richard C

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I was reading an article in the Times today – that the job of ‘Director General NHS IT’ is to be split in two following the resignation of it’s present incumbent – but are they going to split the £275,000 salary cost in two? Of course NOT!

But it wasn’t actually the poor taxpayer ‘footing the increased cost’ that got me thinking - it was the ‘why’? Admittedly, as jobs go, this one’s a biggie; but how can you have TWO people doing ONE job?

But then this IS the civil service I suppose! And haven’t we been seeing this phenomenon evolving everywhere we look in the NHS – more and more managers, multiplying like the very viruses they are ultimately seeking to eradicate?

And it’s this curious phenomenon, which I know you too will have experienced for yourself, that I wanted to discuss today.

It’s called “Parkinson’s Law”, a humorous observation (not a scientific law) that states that “work expands to fill the time available”. The observation was first articulated by ‘Cyril Northcote Parkinson’, appearing as the first sentence of a humorous essay published in The Economist in 1955, later reprinted together with other essays in the book Parkinson’s Law: The Pursuit of Progress.

And guess what - he derived the dictum from his ‘extensive experience in the British Civil Service’.  Now isn’t that a coincidence?

So here it is – this man, Parkinson, says that it will take you as long to do a task, as you have time to do it. So basically, the amount of work you have will expand to fit the available time you have, or the available time you give it.

And here is my point – when you need to achieve something, setting yourself deadlines becomes very important.

You see, without deadlines and time pressure, you rationalise your tasks within the parameters of Parkinson’s Law.

And, short-term deadlines are far better and more tangible than long-term deadlines (or goals) - long-term goals are just too distant to be real enough to need reacting to. Not that you shouldn’t set long term goals - I do - but for effectiveness, a series of short-term goals is very likely to be just the motivation you need.

So get out there, set your deadlines, keep up the pressure, and watch your output improve.

Richard C

I don’t know about you, but I can’t stand shopping at Ikea.

I don’t particularly mind putting together flatpacks. It’s a great concept – well designed and functional furniture that people can afford. And I’d much rather have a house kitted out with Ikea products than the dreary stuff obtainable from most other DIY chains.

It’s just that I find elbowing my way around one of their warehouse is such a depressing experience. Even if you go in just one item, it still seems to take most of the day to get in and out of the place. (And heaven forbid that you have take something back for a refund or replacement – that takes even longer!)

But where am I going with all of this? Well, as much as I find their shops depressing, I have to say that an interview with the company’s president in this weekend’s Sunday telegraph stopped me in my tracks. . .

Anders Dahlvig, president of Ikea, came out of with one of the smartest business quotes I’ve read all year!

He was discussing the impact of the housing slump with interviewer James Hall. Noted, was the fact that many DIY retailers are pretending that a housing downturn is not an issue, on the basis that if they bluff it out and persuade people to stay put rather than buy new homes, they will then spend more money ‘DIY’ing up’ their existing house.

Dahlvig dismissed this with refreshing honesty. “Oh, they (consumers) spend less. Overall consumption is always down, especially when the housing market is down. It is not a concern, as that is the nature of business. You have good times and bad. After sunshine comes rain. We have to accommodate that.”

Now, Dahlvig is of course in the lucky position of running the market leader, said he can afford to be blunt about a recession – his rivals are likely to suffer more than he does. So there was nothing staggering in this comment. It doesn’t take an Einstein to understand that business goes through ups and downs. Economists even call it the “business cycle”. But to hear this clearly stated amidst the gibberish that most business people and politicians are currently sprouting about the ‘credit crisis’, is unfortunately rare.

You can’t eliminate the business cycle

Gordon Brown said he had eliminated boom and bust. We all knew that was rubbish, but everyone went along with it because he said it in the middle of a boom - and no one wants to believe that the boom is going to end.

And that is the trouble. You can’t eliminate the ‘business cycle’. Because to get rid of the bust, you also have to get rid of the boom. And as booms make everyone feel richer, no one wants to do that.

So we all pretend that a boom is not a boom. And we come up with increasingly ridiculous justifications to maintain this pretence. House prices rise because there is too little supply, or there’s too much demand, or there’s not enough land! And if credit does have anything to do with it, well, that’s okay, because we are now in a world of rising incomes (not inflation), permanently low risk, and permanently low interest rates.

Maybe if we all just accepted Dahlvig’s point – that ‘ups and downs’ are simply the nature of business, and life for that matter – then we wouldn’t be so terrified of booms coming to an end. Also, we would make sure we prepared ourselves for the hard times ahead while the good times are still around. (They even knew this in biblical times if you’ve read the story about Joseph.) If we accepted that good times had to end then we wouldn’t strive so desperately to keep these booms going way past their sell by date, and thereby ensuring the bust wouldn’t be quite so brutal.

Why the squeeze on small /medium sized business is bad for us all

Of course, it’s now too late for us in this business cycle. And while the Ikea’s of this world can ride out the hard times, is much tougher for your average business owner. In the first three months of 2008, profit warnings hit a seven-year high, say Ernst & Young, international accountants. Life for small businesses is particularly tough.

Late payment is one of the big issue for small businesses, says the British Chamber of Commerce. Just as the banks are tightening up, so the big corporates are also paying less promptly, thus turning the screw even more on their less fortunate suppliers. The Federation of Small Businesses reckon that 10% of business failures are caused simply by late payments resulting in severe cash flow crises, reports the Times.

But is this the real point?

Nearly 3/5 of the private sector employees work in small businesses. Anyone still predicting that the UK can ride out a credit crunch without a rise in unemployment, and the consequent decrease in consumer spending, should perhaps take these figures into account.

So, for you SME business owners, now’s the time to make sure you keep your credit control tight and your liquidity strong. Remember, “cash is king”! You can’t pay your bills with stock, debtors or promises – your suppliers will only take cash. And no cash = no supplies = nothing to sell = bust business (and probably a ‘broken’ you too).

Apologies for the morbid realities stated above, but my concern is for you – just get out there now, optimise your business, make money the smart way, sort it, and you too will not only  survive the ‘bust’ end of the business cycle but be ready to ‘make a fortune’ next time round!

Richard C

According to researchers at the University of Utah, using a larger monitor screen could save you up to 2.5 hours per day.

Specifically, the test subjects completed everyday office tasks, like editing documents and manipulating spreadsheets, 52% faster when using a 24-inch monitor than they did the same work using an 18-incher.

I’m not sure who uses 18-inch screens - 17” and 19” are more typical in this country – but if they are referring to documents and spreadsheet work, then it would seem to be a mostly scrolling-based discrepancy?

Thanks to Tim Ferriss for this one (he’s an intriguing fellow).

In my book, that’s a whopping 33% increase in productivity!  Does this signal a frantic change of IT equipment across the office world?  (If so, maybe it’s an opportunity to nip in and buy a few shares in Dell, etc)

And, what hope is there for those of us who love our laptops?

Go, make changes, and make money the smart way.

Richard C

Wishing you, one and all, a happy Easter break.

I’ve never been entirely sure where the Easter eggs or Easter bunnies fit in, but Easter is a religious festival for many (with pagan origins we are told). It’s origins however seem to matter little these days, but what it certainly does mark is the ‘new start’, from whatever aspect we view it. Significantly, in the northern hemisphere, it also marks the end of winter and the start of spring. And spring brings a new vibrancy to everything around us and in everything we do.

And in business too, it seems, shaking off the winter bleakness brings out a freshness of ideas, new plans, enthusiasm, renewed vigour and energy. So, this weekend, take a little time off for yourself, sit down in a quiet place, and think about those activities (both in your business and in your life) that might become the ‘geese’ that will lay your golden eggs this Easter.

Now go have a ’smart’ moment or two this Easter.
(and if you don’t know what the acronym ‘SMART’ stands for, tune in again later this month when we shall be exploring planning and ‘goal setting’).

Richard C

As you will know from reading my articles I am very keen on sharing and giving – I like to think I cultivate an ‘abundance mentality’ within and around those I come into contact with. Importantly, it’s a genuine wish to improve the circumstances of anyone wishing to take advantage of the opportunities offered.

Contrast that with the ‘empty’ giving because you feel under some ‘obligation’ to do so. There’s absolutely no benefit, to either party, in doing that.

Focussing on ‘physical’ giving for the moment, the futility of ‘obligatory’ giving is revealed in a recent survey from Citi – extract summarised below.

• Britons are set to recycle 73 million unwanted gifts this Christmas, passing on presents worth an estimated £264 million.
• Some 53% of people receive an average of three unwanted Christmas gifts, and almost half of these are given to someone else.
• Women are the most prolific recyclers, with nearly half admitting to giving second-hand gifts compared to only two-fifths of men.
• But 37% of the 1,000 people polled have discerning taste — saying they only pass on “nice” presents.

“A great number of us are missing the mark when it comes to buying the perfect Christmas gift,” says Alison Wright, chief marketing officer at Citi UK.

“But it is important to remember who gave each gift to ensure you do not commit the ultimate Christmas faux pas — and give somebody their unwanted gift back by mistake.”

The above just confirms my message – don’t ‘give’ (whether it’s physical, emotional, or intellectual) unless you really feel you can offer something special that can be appreciated and ‘add value’ (interpret in the widest sense) for the recipient in some way. Only then can the ‘bond’ (again interpret in the widest sense) be meaningful and fulfilling to both parties.

Wishing you a beneficial break during the festive season and – importantly – a successful and prosperous (again interpret liberally as ’success’ and ‘prosperity’ both means different things to different people) new year.

Richard C