Friday, September 29, 2023

Did the door just shut on you?

When you have enough doors shut on you, you begin to develop a kind of wisdom and momentum that builds business. The bruises to the pride and anxiety of the unknown income is a potent combination that make you actively look for cervices, cracks, windows and gates to open. It’s true that one door closes and another open. But most times, they only open when you actively go knocking. Somethings prying is involved.

Do you welcome closed doors?

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Wednesday, September 27, 2023

Is there only one way?

There is always a path that you can carve somewhere between the choices. It doesn’t always mean you have to win or the other party has to lose. Finding that path is the hard work. It’s what we should all strive hard to achieve. Just because it’s not often done by the others doesn’t mean you can't achieve it often. Do it often enough, it becomes a skill you will develop.

Can you see a way?

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Tuesday, September 26, 2023

How painful was it?

Over the years, you probably won some, lost some, learned some and progressed some. You did your best and the decision you should be most proud of is the one you made, even though it would cost you dearly. People may not tell you but they are watching and now they know you conduct yourself honourably.

When will it pay?

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Monday, September 25, 2023

Can you see clearly?

Frameworks and structures
are there to help you. They allow you to look at a situation in a systematic manner. Without frameworks and structures, you will have a hard time diagnosing your situation. It will be chaotic resulting in wrong solutions. That said, you should not be slaves to certain structures. Use a few structures to get a feel of which one fits best in your situation. Sometimes, you may even be able to amalgamate these to get a clearer picture of your situation. Use frameworks to gain clarity. They are like lenses in your telescope, binoculars and microscope. Which one you use, when and for which situation is important. It’s a skill you can develop over time.

Are you using the right tool?

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Friday, September 22, 2023

What would be a good measure?

Goodhart's Law is a principle in economics and social science that states: "When a measure becomes a target, it ceases to be a good measure." It highlights the idea that once a particular metric is used as a basis for decision-making or as a target for optimization, people and organizations will often find ways to manipulate or game the system to achieve the desired outcome. Even if it means compromising the integrity of the original measure.

British economist Charles Goodhart; hence Goodhart’s Law, was first articulated in the context of monetary policy. He observed that when policymakers target specific economic indicators to achieve their goals, these indicators lose their reliability as accurate measures of economic stability or performance because people adjust their behavior to influence these indicators artificially.

Goodhart's Law has broad implications beyond economics and can be applied to various fields, including business management, education, and even social behavior. So, in a business context, if a company sets a specific sales target as a key performance indicator (KPI), employees may focus on meeting the target at the expense of other important factors. This can lead to unethical practices or short-term gains that harm the company's long-term prospects.

Knowing this, use caution when employing metrics or measurements as the primary basis for decision-making. People's behavior can and will likely change in response to those metrics, often in ways that undermine the original intent or accuracy of the measurement.

Do you really want to measure it now?

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Thursday, September 21, 2023

Do you think you are that different?

Despite the diverse businesses that exist, there are more similarities than differences in the problems businesses face. At the core, businesses share common challenges like how to grow the business, how to increase profits, should you enter a new market, should you react to a competitive threat, or should you introduce a new product. You can add to the list.

Your industry maybe different. But you share more similarities than you recognise. The faster you realise this, the faster you will be able to tap into the solutions others have used and save yourself some mefenamic acid.

Will your solution differ that much?

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Wednesday, September 20, 2023

Why aren’t there solutions?

The treasure trove of insights and growth opportunities can only be unlocked when you actively listen and refrain from creating excuses for each piece of advice given. Open-mindedness is the gateway to learning and personal development. Park your ego aside and lock your pride away. Consider alternative viewpoints, challenge your preconceptions, and make informed decisions. When you deflect advice with excuses, you lock yourself in the chamber of ignorance. Free yourself from the shackles of cynicism and skepticism to the collective wisdom of others, leading to better outcomes in both personal and professional spheres. The path to progress is only open to those who are receptive.

Do you really want advice?

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