An effective manager pays attention to many facets of management, leadership and learning within organizations. So, it's difficult to take the topic of "management success" and say that the following ten items are the most important for management success.
I will, however, suggest seven management success skills without which I don't believe you can be a successful manager.
The most important issue in management success is being a person that others want to follow. Every action you take during your career in an organization helps determine whether people will one day want to follow you.
A successful manager, one whom others want to follow:
Builds effective and responsive interpersonal relationships
Reporting staff members, colleagues and executives respect his or her ability to demonstrate caring, collaboration, respect, trust and attentiveness.
Communicates effectively in person, print and email. Listening and two-way feedback characterize his or her interaction with others.
Builds the team and enables other staff to collaborate more effectively with each other. People feel they have become more - more effective, more creative, more productive - in the presence of a team builder.
Understands the financial aspects of the business and sets goals and measures and documents staff progress and success.
Knows how to create an environment in which people experience positive morale and recognition and employees are motivated to work hard for the success of the business.
Leads by example and provides recognition when others do the same.
Helps people grow and develop their skills and capabilities through education and on-the-job learning.
Article written by: Susan M. Heathfield, About.com
Monday, July 13, 2009
Sunday, July 12, 2009
Business Mentor
Why every entrepreneur should have one
Your friends and family, the Web, periodicals, and even casual acquaintances can provide you with a steady daily flow of information regarding news, industry developments, and opportunities. Industry analysts, consultants, employees, and good networking contacts can share their expert knowledge with you regarding particular situations and needs you may encounter. But only a mentor can truly share wisdom with you on an ongoing basis.
A mentor is someone with more entrepreneurial business experience than you who serves as a trusted confidante over an extended period of time, usually free of charge. Why do they do this? First and foremost as a way of giving back to their community and to society at large. They may do it to develop their skills as a teacher, manager, strategist, or consultant. And a true mentoring relationship also works in both directions—they learn about new ideas from you just as you learn timeless wisdom from them.
But whatever the benefits to the mentor, the benefits to you, the entrepreneur, are even greater:
Where else are you going to turn? There's no boss any more to turn to for advice or direction—maybe not even any employees yet. You're flying solo. But you don't have to. Everybody needs a good reliable sounding board, second opinion, and sometimes just emotional support.
They've "been there, done that". Learn from others' mistakes and successes. They don't have to have experience in your particular industry. They don't have to be up on the latest trends or technology—you've got other sources for that. Their role is to share with you lessons from their experience in the hopes that you can learn them a bit more quickly and easily.
It's (usually) free. If you're on a tight budget, that's a major factor. But plan on at least treating them to lunch or coffee!
Expand your social network. Your mentor, being an experienced businessperson, is likely to have an extensive network, and can offer you access to far more senior decision-makers than you currently have. And they will be far more willing to open that network up to you than some casual acquaintance from a networking meeting.
A trusted, long-term relationship. Your mentor has no ulterior motive—no service or product to sell you. That combined with their experience creates a good foundation for trust. And as the relationship develops over time, that trust can grow even stronger. Also, your time with them becomes more and more efficient as they become more and more familiar with you and your business.
As you can see, the rewards are many, and the risk is non-existent. You have nothing to lose and everything to gain by finding a good mentor. Every entrepreneur should have one.
Note: Article written by Scott Allen, for About.com
Your friends and family, the Web, periodicals, and even casual acquaintances can provide you with a steady daily flow of information regarding news, industry developments, and opportunities. Industry analysts, consultants, employees, and good networking contacts can share their expert knowledge with you regarding particular situations and needs you may encounter. But only a mentor can truly share wisdom with you on an ongoing basis.
A mentor is someone with more entrepreneurial business experience than you who serves as a trusted confidante over an extended period of time, usually free of charge. Why do they do this? First and foremost as a way of giving back to their community and to society at large. They may do it to develop their skills as a teacher, manager, strategist, or consultant. And a true mentoring relationship also works in both directions—they learn about new ideas from you just as you learn timeless wisdom from them.
But whatever the benefits to the mentor, the benefits to you, the entrepreneur, are even greater:
Where else are you going to turn? There's no boss any more to turn to for advice or direction—maybe not even any employees yet. You're flying solo. But you don't have to. Everybody needs a good reliable sounding board, second opinion, and sometimes just emotional support.
They've "been there, done that". Learn from others' mistakes and successes. They don't have to have experience in your particular industry. They don't have to be up on the latest trends or technology—you've got other sources for that. Their role is to share with you lessons from their experience in the hopes that you can learn them a bit more quickly and easily.
It's (usually) free. If you're on a tight budget, that's a major factor. But plan on at least treating them to lunch or coffee!
Expand your social network. Your mentor, being an experienced businessperson, is likely to have an extensive network, and can offer you access to far more senior decision-makers than you currently have. And they will be far more willing to open that network up to you than some casual acquaintance from a networking meeting.
A trusted, long-term relationship. Your mentor has no ulterior motive—no service or product to sell you. That combined with their experience creates a good foundation for trust. And as the relationship develops over time, that trust can grow even stronger. Also, your time with them becomes more and more efficient as they become more and more familiar with you and your business.
As you can see, the rewards are many, and the risk is non-existent. You have nothing to lose and everything to gain by finding a good mentor. Every entrepreneur should have one.
Note: Article written by Scott Allen, for About.com
Friday, July 10, 2009
Entrepreneurs
Entrepreneurs come in all shapes, sizes and personality types. Some are full of big ideas while others are better at execution. Some take big risks while others play it more safe. But there are a few things most successful entrepreneurs have in common.
The most common entrepreneurial traits include a strong desire to be your own boss, the drive to implement your ideas, and a thirst to control your own destiny. Entrepreneurs are inordinately determined to be successful and persevere in the midst of adversity. They thrive on ambiguity and prosper in a world that is confusing and has few answers.
Problem Solving
Running your own business is an ongoing puzzle, a long series of problems to be solved. If you don't like constantly solving a multitude of problems, then an entrepreneurial career might be difficult. Much of your time will be spent troubleshooting, pinpointing problems that are plaguing the business, and trying to solve them. As soon as you solve one problem, others spring up.
Creative and Persuasive
Almost invariably, successful entrepreneurs have the creative capacity to recognize and pursue opportunities. They possess strong selling skills and are both persuasive and persistent. They persuade others to lend them money, work long hours, buy new products or services, and sell products on favorable terms. They are constantly promoting their company, its products or services, and new ideas. Entrepreneurs are visionary and get others excited about and committed to their vision.
Motivated
Entrepreneurs have high energy levels, are impatient, and can't sit still for a minute. They continually think about their business and how to increase market share. Most have experience in the type of venture they start and are confident about launching and operating the firm. Research shows that the role of experience and know-how is central to successful venture creation. If you lack experience, consider working as an apprentice for someone in a business similar to the one you want to start.
Intangible Assets
Successful entrepreneurs rely on their business skills, know-how, and contacts. Evaluate your current talents and your network. Will your skills, contacts and experience readily transfer to the business idea you want to pursue? If not, you might want to do some development work on those areas before starting your venture.
Doing What It Takes
What about support needs? Most corporate workers are surrounded by staff ready to support their activities and are accustomed to having people attend to their needs. Entrepreneurs do not have the luxury of hiring staff support, especially when starting a venture. Instead, they wear many different hats, performing tasks ranging from opening the mail in the morning to emptying the trash at night. They do everything that needs to be done by themselves if necessary.
Risk Tolerance
Risk is involved in making any entrepreneurial venture successful. Entrepreneurs take calculated risks and reduce the risk factor by thoroughly researching their business concepts, industry, and market. One way to reduce risk is to start small at home and test your business concept by asking potential customers to buy it. Don't ask friends if they think your venture idea will work. Instead, ask customers to give you a letter of intent to purchase which forces them to seriously think about whether they would buy it. If you are unable to obtain a letter of intent, you may not have a viable idea.
Preparation
Abraham Lincoln once said, "Give me six hours to chop down a tree and I will spend the first four sharpening the axe." Are you prepared to prepare? If you have the drive to research the industry and your market and write a business plan, you have significantly increased your chances of starting and operating a successful venture.
The most common entrepreneurial traits include a strong desire to be your own boss, the drive to implement your ideas, and a thirst to control your own destiny. Entrepreneurs are inordinately determined to be successful and persevere in the midst of adversity. They thrive on ambiguity and prosper in a world that is confusing and has few answers.
Problem Solving
Running your own business is an ongoing puzzle, a long series of problems to be solved. If you don't like constantly solving a multitude of problems, then an entrepreneurial career might be difficult. Much of your time will be spent troubleshooting, pinpointing problems that are plaguing the business, and trying to solve them. As soon as you solve one problem, others spring up.
Creative and Persuasive
Almost invariably, successful entrepreneurs have the creative capacity to recognize and pursue opportunities. They possess strong selling skills and are both persuasive and persistent. They persuade others to lend them money, work long hours, buy new products or services, and sell products on favorable terms. They are constantly promoting their company, its products or services, and new ideas. Entrepreneurs are visionary and get others excited about and committed to their vision.
Motivated
Entrepreneurs have high energy levels, are impatient, and can't sit still for a minute. They continually think about their business and how to increase market share. Most have experience in the type of venture they start and are confident about launching and operating the firm. Research shows that the role of experience and know-how is central to successful venture creation. If you lack experience, consider working as an apprentice for someone in a business similar to the one you want to start.
Intangible Assets
Successful entrepreneurs rely on their business skills, know-how, and contacts. Evaluate your current talents and your network. Will your skills, contacts and experience readily transfer to the business idea you want to pursue? If not, you might want to do some development work on those areas before starting your venture.
Doing What It Takes
What about support needs? Most corporate workers are surrounded by staff ready to support their activities and are accustomed to having people attend to their needs. Entrepreneurs do not have the luxury of hiring staff support, especially when starting a venture. Instead, they wear many different hats, performing tasks ranging from opening the mail in the morning to emptying the trash at night. They do everything that needs to be done by themselves if necessary.
Risk Tolerance
Risk is involved in making any entrepreneurial venture successful. Entrepreneurs take calculated risks and reduce the risk factor by thoroughly researching their business concepts, industry, and market. One way to reduce risk is to start small at home and test your business concept by asking potential customers to buy it. Don't ask friends if they think your venture idea will work. Instead, ask customers to give you a letter of intent to purchase which forces them to seriously think about whether they would buy it. If you are unable to obtain a letter of intent, you may not have a viable idea.
Preparation
Abraham Lincoln once said, "Give me six hours to chop down a tree and I will spend the first four sharpening the axe." Are you prepared to prepare? If you have the drive to research the industry and your market and write a business plan, you have significantly increased your chances of starting and operating a successful venture.
Monday, July 6, 2009
What is ASK?
A friend enquired – what is ASK?
It is a fond acronym the trainer fraternity uses to describe – Attitude, Skill and Knowledge.
Ah Chong exuberate confidence and charisma complimented with a high level of intelligence. He is a quick learner, prefers to work alone, dislikes training and abhors being supervised. He is able to generate sales result within a short space of time.
Ah Kow is a quiet introvert and fairly intelligent. He is a slow learner, prefers to work in a team, likes training and submits willingly to being supervised. His initial sales result is mediocre.
Usually, most Sales Manager would instinctively prefer to work with a sales subordinate candidate like Ah Chong. However, if I am given a choice – I would select differently - preferring to choose and work with Ah Kow.
I have observed that an excellent sales personnel possesses excellent attitude. It is without doubt that it is much easier that to train and develop a mediocre sales personnel with an excellent attitude into a champion. It is more challenging to train and develop a talented sales personnel with a lousy attitude into a champion.
Talented sales person with lousy attitude are comparable to striking a match stick. The match lighted up with a bright dazzling spark, sizzled down into a warm glow and died off within short seconds. Talented sales personnel will quickly hit their performance ceiling where their result will remain stagnant or worse - decline. Most are unable to break through this performance ceiling refusing to acquire new skills and knowledge. In addition, their result remains persistently low without a helping hand from their Supervisor.
In contrast – a mediocre sales personnel with excellent attitude has proven to emerge as winners – persistently. What they lack in talent – they actively seek to acquire new skill and knowledge to make up the gap. They submit willingly to their supervisor that shared and coached them on the right path. Their initial result may be disappointing but slowly and surely - it shines brighter and larger with each passing day.
The morale of this story is that – a Candidate having excellent Attitude is way richer than having good skill and knowledge. Research conducted had shown that excellent Attitude contributed 90% of the ingredient to be successful (for sales personnel) as compared to a mere 10% for Skill and Knowledge.
The second morale is that we must constantly and continuously indulge in self development by acquiring new skill and knowledge to be able to compete successfully in our rapid changing environment.
It is no surprise that in today’s recruitment exercise – we are beginning to witness more and more organization focusing on a candidate’s attitude when hiring new employees as compared to the past where skill or knowledge was on top of the priority list.
Eventually we all learned from a wise saying - do not drag a horse to the water trough if it is not thirsty. The horse will not drink and waste our effort. It is not how you start – more importantly – it is how you end.
It is a fond acronym the trainer fraternity uses to describe – Attitude, Skill and Knowledge.
Ah Chong exuberate confidence and charisma complimented with a high level of intelligence. He is a quick learner, prefers to work alone, dislikes training and abhors being supervised. He is able to generate sales result within a short space of time.
Ah Kow is a quiet introvert and fairly intelligent. He is a slow learner, prefers to work in a team, likes training and submits willingly to being supervised. His initial sales result is mediocre.
Usually, most Sales Manager would instinctively prefer to work with a sales subordinate candidate like Ah Chong. However, if I am given a choice – I would select differently - preferring to choose and work with Ah Kow.
I have observed that an excellent sales personnel possesses excellent attitude. It is without doubt that it is much easier that to train and develop a mediocre sales personnel with an excellent attitude into a champion. It is more challenging to train and develop a talented sales personnel with a lousy attitude into a champion.
Talented sales person with lousy attitude are comparable to striking a match stick. The match lighted up with a bright dazzling spark, sizzled down into a warm glow and died off within short seconds. Talented sales personnel will quickly hit their performance ceiling where their result will remain stagnant or worse - decline. Most are unable to break through this performance ceiling refusing to acquire new skills and knowledge. In addition, their result remains persistently low without a helping hand from their Supervisor.
In contrast – a mediocre sales personnel with excellent attitude has proven to emerge as winners – persistently. What they lack in talent – they actively seek to acquire new skill and knowledge to make up the gap. They submit willingly to their supervisor that shared and coached them on the right path. Their initial result may be disappointing but slowly and surely - it shines brighter and larger with each passing day.
The morale of this story is that – a Candidate having excellent Attitude is way richer than having good skill and knowledge. Research conducted had shown that excellent Attitude contributed 90% of the ingredient to be successful (for sales personnel) as compared to a mere 10% for Skill and Knowledge.
The second morale is that we must constantly and continuously indulge in self development by acquiring new skill and knowledge to be able to compete successfully in our rapid changing environment.
It is no surprise that in today’s recruitment exercise – we are beginning to witness more and more organization focusing on a candidate’s attitude when hiring new employees as compared to the past where skill or knowledge was on top of the priority list.
Eventually we all learned from a wise saying - do not drag a horse to the water trough if it is not thirsty. The horse will not drink and waste our effort. It is not how you start – more importantly – it is how you end.
Sunday, July 5, 2009
How To Keep Your Job?
I stumbled on this frank yet candid article written by Chris Kalaboukis. Highly recommended for salaried employee during challenging economic circumstance.
If you've got a job working for someone else, and want to keep that job, here are ten essential techniques which you absolutely must follow in order to keep your job today:
1. Don't Excel
If you excel at your job, you'll get noticed. Your co-workers will notice that you are doing well and start talking to the boss about it. They'll gang up on you to try and take you down. They'll look for some evidence which poses you in some negative light, and use it as an excuse to get rid of you. Any excuse works in this climate. So don't excel. Excellence makes you different, and "difference" is a negative. Don't be different.
2. Don't Do Poorly
Don't let yourself slack off in any way either. They will use any excuse in a change in your job habits in order to red circle your position. Don't give them any kind of excuse. However, make sure that you also always follow rule one: don't do any more or less that what is expected of you, if you do you'll stick out, and that's the last thing you need right now. Keep on steaming at that exact same clip; don't vary your speed in any way.
3. Don't Complain
This is a sure job buster. Management is strung tight: stress is at an all time high. Money is barely trickling in, if at all. Now is not the time to complain. Bottle it all up, and never say a SINGLE word to anyone at work, or anyone who knows anyone at work, no matter how unfair or wrong things are. Management doesn't want to hear problems OR solutions. They'd like to hear NOTHING. Nothing is king. Silence is queen. They do like to hear keys busily tapping though.
WARNING: Don't be fooled by an "open door policy" or your boss asking you "How Are Things?" or "What's wrong". Always respond to the former with "Fantastic" and never, never respond to the latter with anything other than "Nothing! Everything's just great". In fact, don't ever give him the reason to say "What's wrong": see point 7
4. Use the mantra "I'm just happy to have a job"
Every day, when you get up, in the shower, while you're shaving, on your way to work, just repeat, again and again. "I'm just happy to have a job, I'm just happy to be working". When your boss cuts your salary, just say "That's OK, I'm just happy to be working". When your boss gives that hot sales lead to another sales rep, just say to yourself "It's OK, because I still have a job". When your boss ask you to work the weekend, just say "No problem", and think to yourself. "I'm just happy to have a job." When your boss goes to Hawaii but you have to stay behind and work, remember the mantra.
5. Take a salary cut gracefully when offered
If your boss cuts your salary in order to keep the company afloat (or for his new minivan purchase) just smile and say "I know that its all for the good of the company, that's fine, we'll just get by with less". Even better, offer to take a salary cut, if you know that the company is in trouble.
6. Get politically neutral
Always good advice, but even more so now. If you ally yourself with the wrong crowd, you could be in trouble. If you ally yourself too closely with your boss, you could be in trouble if he goes. Be very aware of what's going on, but don't ally yourself with anyone. Remember your mission here is to keep your job at all costs. Look out for number one.
7. Wear a Mask
Every morning, before you go to work, put on your "work mask". Here are some key things to remember about your work mask. Keep a SMILE on that mask! It is never unhappy. At worst it's neutral, but never for long. Never, ever let down your work mask while you are at work, or while you are in the company of anyone from work, or anyone who knows anyone at work. Smile, be happy, and never give anyone a reason to say "What's Wrong". That, my friend, is the beginning of the end. You may as well get your resume out.
8. Work longer hours
You may think that this point conflicts with point 1, but its how you do it, not what you do. Make sure that you actually spend more time working, but not do more work. This may sound confusing but it's actually quite simple. Your boss doesn't usually care how much you produce, but they do care when you come in and when you leave (sometimes, they are simple creatures). Always, always come in before the boss and leave after. If you do leave before the boss, make sure that you send email to "the team" but copying your boss at 1am (or even better) 2:00 a.m. in the morning, so that he gets the impression that you are hard at work, even at 2:00 a.m. Even though you're really only working hard at keeping your job, 2:00 a.m. emails are still pretty damn impressive to the boss.
9. Sacrifice everything for your job
Now is the time to stay at work long hours, keep your head down and shut up. Don't miss your wife, don't miss your kids. Don't miss the karate lessons, soccer games and Little League games. What you are doing is way more important than that right now. You are focused on keeping your job. That is all that matters. That is all your boss cares about, and this is tricky, no matter how much he talks like he cares, he really doesn't. Don't let your guard down. Not for a second.
10. Be a work-bot
When you work for someone else, you are not yourself. You are a robot. A cog in a machine. Sure, some of us are bigger or smaller cogs, in bigger or smaller machines, but we are all cogs. Do your absolute best to be the best cog that you can be. A cog that doesn't fit always gets replaced.
Now, do you really want to keep that job, or work for yourself? You don't have to wear the mask anymore. Now doesn't that feel better?
Note:
Chris Kalaboukis is CEO of AdviceTrader, a leading expert advice marketplace: www.AdviceTrader.com. Chris has over 10 years of experience in internet, information technology and business development with high-end web design, wireless, high-speed internet deployment and entertainment companies.
If you've got a job working for someone else, and want to keep that job, here are ten essential techniques which you absolutely must follow in order to keep your job today:
1. Don't Excel
If you excel at your job, you'll get noticed. Your co-workers will notice that you are doing well and start talking to the boss about it. They'll gang up on you to try and take you down. They'll look for some evidence which poses you in some negative light, and use it as an excuse to get rid of you. Any excuse works in this climate. So don't excel. Excellence makes you different, and "difference" is a negative. Don't be different.
2. Don't Do Poorly
Don't let yourself slack off in any way either. They will use any excuse in a change in your job habits in order to red circle your position. Don't give them any kind of excuse. However, make sure that you also always follow rule one: don't do any more or less that what is expected of you, if you do you'll stick out, and that's the last thing you need right now. Keep on steaming at that exact same clip; don't vary your speed in any way.
3. Don't Complain
This is a sure job buster. Management is strung tight: stress is at an all time high. Money is barely trickling in, if at all. Now is not the time to complain. Bottle it all up, and never say a SINGLE word to anyone at work, or anyone who knows anyone at work, no matter how unfair or wrong things are. Management doesn't want to hear problems OR solutions. They'd like to hear NOTHING. Nothing is king. Silence is queen. They do like to hear keys busily tapping though.
WARNING: Don't be fooled by an "open door policy" or your boss asking you "How Are Things?" or "What's wrong". Always respond to the former with "Fantastic" and never, never respond to the latter with anything other than "Nothing! Everything's just great". In fact, don't ever give him the reason to say "What's wrong": see point 7
4. Use the mantra "I'm just happy to have a job"
Every day, when you get up, in the shower, while you're shaving, on your way to work, just repeat, again and again. "I'm just happy to have a job, I'm just happy to be working". When your boss cuts your salary, just say "That's OK, I'm just happy to be working". When your boss gives that hot sales lead to another sales rep, just say to yourself "It's OK, because I still have a job". When your boss ask you to work the weekend, just say "No problem", and think to yourself. "I'm just happy to have a job." When your boss goes to Hawaii but you have to stay behind and work, remember the mantra.
5. Take a salary cut gracefully when offered
If your boss cuts your salary in order to keep the company afloat (or for his new minivan purchase) just smile and say "I know that its all for the good of the company, that's fine, we'll just get by with less". Even better, offer to take a salary cut, if you know that the company is in trouble.
6. Get politically neutral
Always good advice, but even more so now. If you ally yourself with the wrong crowd, you could be in trouble. If you ally yourself too closely with your boss, you could be in trouble if he goes. Be very aware of what's going on, but don't ally yourself with anyone. Remember your mission here is to keep your job at all costs. Look out for number one.
7. Wear a Mask
Every morning, before you go to work, put on your "work mask". Here are some key things to remember about your work mask. Keep a SMILE on that mask! It is never unhappy. At worst it's neutral, but never for long. Never, ever let down your work mask while you are at work, or while you are in the company of anyone from work, or anyone who knows anyone at work. Smile, be happy, and never give anyone a reason to say "What's Wrong". That, my friend, is the beginning of the end. You may as well get your resume out.
8. Work longer hours
You may think that this point conflicts with point 1, but its how you do it, not what you do. Make sure that you actually spend more time working, but not do more work. This may sound confusing but it's actually quite simple. Your boss doesn't usually care how much you produce, but they do care when you come in and when you leave (sometimes, they are simple creatures). Always, always come in before the boss and leave after. If you do leave before the boss, make sure that you send email to "the team" but copying your boss at 1am (or even better) 2:00 a.m. in the morning, so that he gets the impression that you are hard at work, even at 2:00 a.m. Even though you're really only working hard at keeping your job, 2:00 a.m. emails are still pretty damn impressive to the boss.
9. Sacrifice everything for your job
Now is the time to stay at work long hours, keep your head down and shut up. Don't miss your wife, don't miss your kids. Don't miss the karate lessons, soccer games and Little League games. What you are doing is way more important than that right now. You are focused on keeping your job. That is all that matters. That is all your boss cares about, and this is tricky, no matter how much he talks like he cares, he really doesn't. Don't let your guard down. Not for a second.
10. Be a work-bot
When you work for someone else, you are not yourself. You are a robot. A cog in a machine. Sure, some of us are bigger or smaller cogs, in bigger or smaller machines, but we are all cogs. Do your absolute best to be the best cog that you can be. A cog that doesn't fit always gets replaced.
Now, do you really want to keep that job, or work for yourself? You don't have to wear the mask anymore. Now doesn't that feel better?
Note:
Chris Kalaboukis is CEO of AdviceTrader, a leading expert advice marketplace: www.AdviceTrader.com. Chris has over 10 years of experience in internet, information technology and business development with high-end web design, wireless, high-speed internet deployment and entertainment companies.
Saturday, July 4, 2009
Paradigm Shift
One of the topics for discussion during a workshop was - “Nothing is constant except change”.
A few weeks ago I was fortunate to read an interesting book explaining the impact of technology and its effect on people in different part of the world. Apparently technology has reduced the world in size and amazingly – the world is no longer round – its flat. Accelerating changes in technology requires each and every nation to rethink its strategy. Nations that are able to embrace and effectively adapt to these rapid changes are well position to achieve economic growth. In short – this called for a Paradigm Shift!
An individual can have a Paradigm Shift too. Please allow me the opportunity to share with you the “5 A” Formula for a successful Paradigm Shift.
Aware – being aware of the changes in our environment. We store photos in digital instead of printed format. We use PC to correspond instead of sending mails via postal office. We use plastic card to purchase goods & services instead of cash. We use internet banking instead of physically lining up at bank.
Acknowledge – we must accept, acknowledge and embrace these changes and its impact on our lives to be able to compete successfully. Today, there are more "Green Population" who are willing to switch to alternate energy source (beside oil) in our global effort to save earth from pollution. There is a growing Muslim market demands for “Halal” products and services aligned with Islamic value.
Acquire – to acquire new knowledge, skill and attitude empowering oneself the right tools to face changes successfully. New knowledge, skill and attitude can be effectively acquired through a regular and continuous learning process – ie reading books or attending trainings.
Adapt – utilizing newly acquired knowledge, skill and attitude to adapt to the changes. We know it is impossible for you to ride a bicycle if you have not learnt to ride a bicycle. You must know the rule of the game to be able to play effectively and successfully.
Achieve – using the “5 A” formula to compete and achieve successful result. Wise Gurus taught us that – “Old ideas will yield old results. New ideas will yield new results”.
A short story to reward you. Once there was this little cute puppy that attended a positive mental attitude course. He was so charged up after the course that he declared he want to break the world record by being the first puppy to walk across the Sahara desert. He started training – physically and mentally - in preparation for the journey. He solicited and received sponsors from established multinationals. Puppy was ready after 6 months of grueling training.
On that faithful launching date, all his relatives, friends, supporters and media turned up to lend their support. On site were RTM, CNN, BBC, STAR, New Straits Times, Utusan (and many more) all covering this historical event. At the launching pad, Puppy smiled, waved to the crowd and walked off with a large hover-sack on his back.
One week later – Puppy’s parent was worried as they receive no news from Puppy. His parent promptly hired a helicopter and set out to search for Puppy. After a frantic 10 hours search – they found Puppy in the middle of the desert. Puppy was motionless. The Parent landed the helicopter – rushed to Puppy and found him dead with all four legs facing the sky. The parent wrapped and bundled Puppy body - and flew to the nearest hospital.
At the hospital, 10 doctors conducted a post mortem to ascertain the cause of Puppy’s death. Two days later, the hospital called for a press conference to announce their findings. The 10 doctors declared in one voice that Puppy died because his urinary bladder was too full and burst. The relatives, friends, supporters and media were confused – how did this happen.
There was no fire hydrant in the desert and Puppy was unable to change his habit when peeing. The morale of the story is – change or die!
A few weeks ago I was fortunate to read an interesting book explaining the impact of technology and its effect on people in different part of the world. Apparently technology has reduced the world in size and amazingly – the world is no longer round – its flat. Accelerating changes in technology requires each and every nation to rethink its strategy. Nations that are able to embrace and effectively adapt to these rapid changes are well position to achieve economic growth. In short – this called for a Paradigm Shift!
An individual can have a Paradigm Shift too. Please allow me the opportunity to share with you the “5 A” Formula for a successful Paradigm Shift.
Aware – being aware of the changes in our environment. We store photos in digital instead of printed format. We use PC to correspond instead of sending mails via postal office. We use plastic card to purchase goods & services instead of cash. We use internet banking instead of physically lining up at bank.
Acknowledge – we must accept, acknowledge and embrace these changes and its impact on our lives to be able to compete successfully. Today, there are more "Green Population" who are willing to switch to alternate energy source (beside oil) in our global effort to save earth from pollution. There is a growing Muslim market demands for “Halal” products and services aligned with Islamic value.
Acquire – to acquire new knowledge, skill and attitude empowering oneself the right tools to face changes successfully. New knowledge, skill and attitude can be effectively acquired through a regular and continuous learning process – ie reading books or attending trainings.
Adapt – utilizing newly acquired knowledge, skill and attitude to adapt to the changes. We know it is impossible for you to ride a bicycle if you have not learnt to ride a bicycle. You must know the rule of the game to be able to play effectively and successfully.
Achieve – using the “5 A” formula to compete and achieve successful result. Wise Gurus taught us that – “Old ideas will yield old results. New ideas will yield new results”.
A short story to reward you. Once there was this little cute puppy that attended a positive mental attitude course. He was so charged up after the course that he declared he want to break the world record by being the first puppy to walk across the Sahara desert. He started training – physically and mentally - in preparation for the journey. He solicited and received sponsors from established multinationals. Puppy was ready after 6 months of grueling training.
On that faithful launching date, all his relatives, friends, supporters and media turned up to lend their support. On site were RTM, CNN, BBC, STAR, New Straits Times, Utusan (and many more) all covering this historical event. At the launching pad, Puppy smiled, waved to the crowd and walked off with a large hover-sack on his back.
One week later – Puppy’s parent was worried as they receive no news from Puppy. His parent promptly hired a helicopter and set out to search for Puppy. After a frantic 10 hours search – they found Puppy in the middle of the desert. Puppy was motionless. The Parent landed the helicopter – rushed to Puppy and found him dead with all four legs facing the sky. The parent wrapped and bundled Puppy body - and flew to the nearest hospital.
At the hospital, 10 doctors conducted a post mortem to ascertain the cause of Puppy’s death. Two days later, the hospital called for a press conference to announce their findings. The 10 doctors declared in one voice that Puppy died because his urinary bladder was too full and burst. The relatives, friends, supporters and media were confused – how did this happen.
There was no fire hydrant in the desert and Puppy was unable to change his habit when peeing. The morale of the story is – change or die!
Friday, July 3, 2009
Alternate Source of Income
I recalled holding an intimate discussion with Participants during a recent Risk Management Workshop. Most Participants focused on current global economic challenges including recession, increased commodity prices, credit crunch and its impact on established multinationals. We merely focused on giants like AIG, ING, GM, Chrysler etc brought down on their knees in humiliation. However, none of the Participant raised the concern on the millions of salaried employees that were forced to take reduced salary, benefits, working days or worse - retrenchment.
Salaried employees are not familiar with risk management. Therefore it is not surprising that most salaried employees have only one source of income. In the face of economic challenges - salaried employees represent the most vulnerable group to suffer immediately on financial matter. This problem is critical if the salaried employee is the sole bread winner and compounded in the event he/she has no alternate source of income.
Risk management for salaried employees is not exclusively about economic circumstances. The income of a salaried employee is subject to numerous risks including changes in company business strategies, bosses, machineries, technologies, customers or even competitors. The critical question here underlines - what must a salaried employee implement to achieve prudent risk management and spread his/her exposure (or risk) to protect his income.
Prudent salaried employees with excellent risk management normally retain their job for their main source of income and indulge in other project for alternate source of income. They possessed the hindsight to actively seek project(s) to compliment and more importantly to protect their income. Some of this project turned up to be extremely successful generating more income than their existing job. In fact - many successful millionaires started out along this line.
There are several options available to achieve an alternate source of income. Common examples includes people working more than one (1) job, have a working spouse, investing in properties etc. Unfortunately most of these common options are not suitable or ideal due to our limited time, resources and experience.
What is an ideal project to generate alternate source of income. I am in opinion that an ideal project should have the following criteria:-
Does not take up too much of your time and capital
This project must be flexible enabling me to effectively manage my time and schedule. In addition, it should not incur excessive capital either.
Interest and Passion
This project must be interesting and passionate for me. This is to ensure that I am committed to develop this project plus have a good time doing it.
Income that grows with your age
This project must offer me an income that grows with my age. Ideally the formula should be, “The older I get, the more I earn and the less I work”.
The majority of the population is aware of the danger being exposed to the risk of having a single source of income. In addition, the majority of the population wants to establish a project to generate an alternate source of income. Unfortunately what we are aware and want is usually not translated into appropriate action to achieve the desired result. Human weaknesses lie in the FACT.
What is this FACT?
F Fear in failures
A Angry at oneself and the rest of the world
C Complacent
T Thinking in Reverse (negative thoughts)
To achieve the desired result – we must overcome FACT with FLEP. For example :-
FEAR = FAITH
ANGER = LOVE
COMPLACENT = EXPANSION
THINKING IN REVERSE = THINKING POSITIVE
FAITH in our heart and mind that we are the best and we are capable of achieving our dream. All achievements started as an intangible thought like a seed of a dream planted in our heart and mind. The subsequent tangible results are fed by faith.
LOVE that nurtures passion and commitment and help us overcome all barriers and challenges to achieve the desired result.
EXPANSION for all living things that are constantly growing and expanding. We seek to grow and expand in our life.
THINKING POSITIVE offers positive energies and thoughts attracting all the goodness from the universe into our world.
Salaried employees are not familiar with risk management. Therefore it is not surprising that most salaried employees have only one source of income. In the face of economic challenges - salaried employees represent the most vulnerable group to suffer immediately on financial matter. This problem is critical if the salaried employee is the sole bread winner and compounded in the event he/she has no alternate source of income.
Risk management for salaried employees is not exclusively about economic circumstances. The income of a salaried employee is subject to numerous risks including changes in company business strategies, bosses, machineries, technologies, customers or even competitors. The critical question here underlines - what must a salaried employee implement to achieve prudent risk management and spread his/her exposure (or risk) to protect his income.
Prudent salaried employees with excellent risk management normally retain their job for their main source of income and indulge in other project for alternate source of income. They possessed the hindsight to actively seek project(s) to compliment and more importantly to protect their income. Some of this project turned up to be extremely successful generating more income than their existing job. In fact - many successful millionaires started out along this line.
There are several options available to achieve an alternate source of income. Common examples includes people working more than one (1) job, have a working spouse, investing in properties etc. Unfortunately most of these common options are not suitable or ideal due to our limited time, resources and experience.
What is an ideal project to generate alternate source of income. I am in opinion that an ideal project should have the following criteria:-
Does not take up too much of your time and capital
This project must be flexible enabling me to effectively manage my time and schedule. In addition, it should not incur excessive capital either.
Interest and Passion
This project must be interesting and passionate for me. This is to ensure that I am committed to develop this project plus have a good time doing it.
Income that grows with your age
This project must offer me an income that grows with my age. Ideally the formula should be, “The older I get, the more I earn and the less I work”.
The majority of the population is aware of the danger being exposed to the risk of having a single source of income. In addition, the majority of the population wants to establish a project to generate an alternate source of income. Unfortunately what we are aware and want is usually not translated into appropriate action to achieve the desired result. Human weaknesses lie in the FACT.
What is this FACT?
F Fear in failures
A Angry at oneself and the rest of the world
C Complacent
T Thinking in Reverse (negative thoughts)
To achieve the desired result – we must overcome FACT with FLEP. For example :-
FEAR = FAITH
ANGER = LOVE
COMPLACENT = EXPANSION
THINKING IN REVERSE = THINKING POSITIVE
FAITH in our heart and mind that we are the best and we are capable of achieving our dream. All achievements started as an intangible thought like a seed of a dream planted in our heart and mind. The subsequent tangible results are fed by faith.
LOVE that nurtures passion and commitment and help us overcome all barriers and challenges to achieve the desired result.
EXPANSION for all living things that are constantly growing and expanding. We seek to grow and expand in our life.
THINKING POSITIVE offers positive energies and thoughts attracting all the goodness from the universe into our world.
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