The not-to-do list

August 19, 2019

Via mission.org  Article

“You can do anything, but not everything.” ― David Allen

“If you look on the desk of any ambitious person, you’ll probably find a fair amount of predictable stuff: coffee cups (with varying levels of cold, abandoned coffee), post-its, uncapped pens, and — most predictably — ’To-Do’ Lists. Whether they’re written neatly in a planner, scribbled on a scratch piece of paper, penned on a whiteboard, or kept in the back corner of your mind — we all have them. For the go-getter, they’re imperative. We can’t start the day without knowing what’s on that list.

But Bryce Maddock has a different idea, and we think it’s worth a listen. He’s CEO of TaskUs — the world’s leading digital customer experience outsourcing company — and he wants you to try and make a ‘Not To-Do List.’

‘Decide what you’re not going to do. That doesn’t mean low priority items get crossed off the list. It means deciding that they’re not the absolute highest priority item. The discipline of saying — ‘here are probably seven or eight things that we’d like to accomplish this year… what are the four or five that we’re going to just decide we’re not going to do so that we can absolutely focus on the top three?’

By saying ‘yes’ to something, you’re inherently saying ‘no’ to something else — but we usually don’t think of it that way.

But try it — make a list of everything you think you need to do. Then, give yourself permission to not do some of them. Cross those puppies off. Go ahead — use a red pen. It will feel awesome to free yourself to pursue what you really want to chase down.”

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Successful people are those who can …

August 19, 2019

By Ray Dalio via linkedin.com  Article

Life Principle 1.10e; Successful people are those who can go above themselves to see things objectively and manage those things to shape change

“They can take in the perspectives of others instead of being trapped in their own heads with their own biases. They are able to look objectively at what they are like—their strengths and weaknesses—and what others are like to put the right people in the right roles to achieve their goals. …

Nobody can do everything well. Would you want to have Einstein on your basketball team? When he fails to dribble and shoot well, would you think badly of him? Should he feel humiliated? Imagine all the areas in which Einstein was incompetent, and imagine how hard he struggled to excel even in the areas in which he was the best in the world.

Watching people struggle and having others watch you struggle can elicit all kinds of ego-driven emotions such as sympathy, pity, embarrassment, anger, or defensiveness. You need to get over all that and stop seeing struggling as something negative. Most of life’s greatest opportunities come out of moments of struggle; it’s up to you to make the most of these tests of creativity and character.

When encountering your weaknesses you have four choices:

1. You can deny them (which is what most people do).

2. You can accept them and work at them in order to try to convert them into strengths (which might or might not work depending on your ability to change).

3. You can accept your weaknesses and find ways around them.

4. Or, you can change what you are going after. …

The worst path you can take is the first. Denial can only lead to your constantly banging up against your weaknesses, having pain, and not getting anywhere.

The second—accepting your weaknesses while trying to turn them into strengths—is probably the best path if it works. But some things you will never be good at and it takes a lot of time and effort to change. …

The third path—accepting your weaknesses while trying to find ways around them—is the easiest and typically the most viable path, yet it is the one least followed.

The fourth path, changing what you are going after, is also a great path, though it requires flexibility on your part to get past your preconceptions and enjoy the good fit when you find it.”

 


Don’t care

August 19, 2019

“People don’t care how much you know until they know how much you care”

– Theodore Roosevelt

Source


Diversity and inclusion

August 19, 2019

By Stephen Frost and Raafi-Karim Alidina via greatleadershipbydan.com  Article

Diversity and Inclusion – Two Very Different Concepts

“To build an inclusive organisation, there are two main things you need to do.  You need to de-bias the systems that run the organisation, such as recruitment, pay, procurement, talent management and marketing.  And you need to lead inclusively.  Whilst both are important, leadership is the cornerstone, without which all the diversity initiatives in the world will be in vain.

When we think about how to reduce unconscious bias in organisations, we often think about systems and processes. We think about recruitment policies, or how we do performance evaluations, or flexible working arrangements. We anonymize CVs, do 360° evaluations, and make work flexibility the default. All of these techniques are extremely important in making the workplace more equitable. They help to level the playing field and reduce the risk that we are systematically favouring or penalising any particular group.

However, as important as these processes are, they are only one half of the solution.

Diversity and inclusion – despite that they are often discussed together – are actually two very different concepts.  Diversity is about the mix of people on your team or in your organisation.  Making sure you have the right policies in place really helps with this half of the equation.  It makes sure that a broad swathe of people apply, that marginalised groups are just as likely to make it through the application process as majority groups, and that everyone has equal opportunity for advancement.

Inclusion, however, is about making sure the mix of people we have works.  It’s about ensuring that no one, regardless of their background or identity, has to worry about hiding parts of themselves. In an inclusive workplace, everyone has equal opportunity and support to thrive.  While policies can help with this to some degree, the work of including people is mostly done through leadership.

The reason for this is that while policies can mandate the way we review applications, they can’t really mandate how we run a meeting, or how we create an organizational culture.  That culture is built through the behaviours exhibited by all who work there.  If people are making sexist or racist jokes or comments, whether in formal meeting settings or during casual conversations, that creates a less inclusive environment. It makes those people who are the butt of those jokes feel like they are misunderstood and that people will judge them based on stereotypes rather than for who they are as an individual and the work they do.”


Book value and market value

August 12, 2019

By   via investopedia.com   Article

How Are Book Value and Market Value Different?

Book Value The book value of a stock is theoretically the amount of money that would be paid to shareholders if the company was liquidated and paid off all of its liabilities. As a result, the book value equals the difference between a company’s total assets and total liabilities. Book value is also recorded as shareholders’ equity. In other words, the book value is literally the value of the company according to its books (balance sheet) once all liabilities are subtracted from assets. …

Market Value The market value is the value of a company according to the financial markets. The market value of a company is calculated by multiplying the current stock price by the number of outstanding shares that are trading in the market. Market value is also known as market capitalization. …

How Book Value and Market Value Are Interpreted

When the market value of a company is less than its book value, it may mean that investors have lost confidence in the company. In other words, the market may not believe the company is worth the value on its books or that there are enough future earnings. Value investors might look for a company where the market value is less than its book value hoping that the market is wrong in its valuation. For example, during the Great Recession, Bank of America’s market value was below its book value. Now that the bank and the economy have recovered, the company’s market value is no longer trading at a discount to its book value.

When the market value is greater than the book value, the stock market is assigning a higher value to the company due to the earnings power of the company’s assets. Consistently profitable companies typically have market values greater than their book values because investors have confidence in the companies’ ability to generate revenue growth and ultimately earnings growth. …

The Bottom Line Book value and market value are two fundamentally different calculations that tell a story about a company’s overall financial strength. Comparing the book value to the market value of a company can also help investors determine whether a stock is overvalued or undervalued given its assets, liabilities and its ability to generate income. However, with any financial metric, it’s important to recognize the limitations of book value and market value and use a combination of financial metrics when analyzing a company.”


Sexual misconduct, fraud, bribery, insider trading

August 12, 2019

“39 percent of the 89 CEOs who departed in 2018 left for reasons related to unethical behavior stemming from allegations of sexual misconduct or ethical lapses connected to things like fraud, bribery and insider trading.”

Source

 


Drastically different results

August 12, 2019

By Steve Keating via stevekeating.me  Article

The Art of Leadership

“There is well documented science behind the management of things. You input a set of ‘ingredients,’ follow a known and specific plan and presto, you almost always get the output you were looking for.

It’s not that way with leadership. Managing is about things. Leadership is about people. When you manage a budget you input the numbers with a high degree of certainty that 2 plus 2 will equal 4. … When you lead people you can put 2 people in the same room, give them identical directions on performing the identical task and get 2 drastically different results.

A stoplight at an intersection demonstrates the difference between managing and leading. The red and green lights mean the same thing to everyone. You stop on red and go on green.

The yellow lights however can mean very different, even opposite things. To some people yellow lights mean slow down. To other people the yellow light means go real fast. But that depends too. If you’re not in a hurry it may mean slow down but if you are in a hurry it might mean go real fast.

The red and green lights are pretty straightforward, kind of like managing. The yellow lights have lots of variables and even those variables can change depending on the circumstances. That’s a lot like leading.

Authentic Leaders know that while people can have similarities no two people are identical. They develop their people by using those diverse skills, varied knowledge and different experiences to mold a productive team. They rally those individuals to mutually agreed upon goals and objectives.

Authentic Leaders encourage robust discussions to reach high-quality and correct decisions. While working as a team they establish both group and individual accountability. They learn from their successes and learn even more from their failures. Instead of assigning blame they look for solutions.

Developing people is the true art in leadership. Authentic Leaders invest a significant part of each day practicing that art. They know that their success is completely dependent on the success of their people. They understand that while quarterly profits and short-term metrics are important the development of their people is the only way to truly sustainable success.”