Showing posts with label 7 habits of highly effective people. Show all posts
Showing posts with label 7 habits of highly effective people. Show all posts

Sunday, July 5, 2015

Warren Buffett's Remarkably Simple Mantra for Success

Warren Buffett is wealthy, to the tune of $72.2 billion. To put this in perspective, only 67 of the 200 wealthiest countries listed by the United Nations generate a GDP greater than the value of his holdings.
He is also by many accounts one of the hardest-working people in business. According to his biographer, his "vaguely autistic aura" provides him with a keen ability to see and analyze numbers. And when most of us might question the validity of an undervalued company, he sees it for what it really is -- an opportunity.
Buffett is also an incredibly humble, honest and pretty funny fellow.
In 2002, I had the opportunity to hear The Oracle of Omaha speak at Georgetown University. Our small group of aspiring business leaders sat patiently hoping to hear sage investment advice or catch a hint of an upcoming acquisition. The jovial Buffett, however, lamented about his surprisingly humble rise to wealth and provided us with a few simple rules to live by.
Buffett quipping that the only difference between us young business students and him was that while we probably arrived to the venue by foot or in crappy old cars (given the costly tuition at Georgetown), he came on his cushy private jet.
That is hardly a small difference, Mr. Buffett.
He was quick to point out that we had all in fact started off poor, scared and naked. He dismissed the attributes of luck, though he acknowledged the fact that he was fortunate to have been born to supporting parents with means, or as he called it, "winning the fallopian tube lottery."
His career success and wealth, however, was not achieved through chance circumstance. Hard work, conviction and an enormous helping of common sense is what he attributes to success.
But that was not the secret.
Instead, Buffett emphasized that the true secret to success was to live a righteous life, because dishonesty, cruelty and immorality follow you throughout your career, and it is far more difficult to shed than any failure we will ever have.
He suggested that by adopting one simple mantra, all other parts of your personal and professional lives would fall into place:
Never do anything in life if you would be ashamed of seeing it printed on the front page of your hometown newspaper for your family and friends to see.
It is that simple.
There was no top-secret formula for valuing businesses or stock tips. Just be good, do right and treat others fairly.
Of course, Buffett has acquired ownership in a few small newspapers over the past years, so perhaps his goal is to control the front page content of his hometown newspaper.
Alas, I am certain his investment reasoning is far more sophisticated than that.

Friday, May 1, 2015

What Is Your Purpose?



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Monday, March 2, 2015

Make Your Waking Hours Work for You

If you could have any skill of a superhero, which would you choose? The ability to fly or leap across tall buildings in a single bound perhaps?
I would choose the power to never need sleep though this is not a flashy choice. This would mean an end to my constant wish for more hours in the day.
Needless to say, my superpower has yet to unlock itself. Until then, here are four scheduling tips I use to help me get the most from my waking hours:

1. Reschedule canceled events.

Many years ago I heard the phrase "If I erase, I must replace" and it's still a mantra I live and work by today. It serves as a reminder to be flexible, yet accountable.
Your schedule should not be so rigid that you can never tweak it. But if an event was important enough to include initially, set aside time for it later in the day or week.
Rescheduling an event (a meeting, a conference call or independent work time) allows for the flexibility that a busy life demands while ensuring that important tasks don't fall by the wayside.

2. Be strategic.

To use a calendar strategically, schedule important tasks first and let the less-demanding ones land where they may.
Every time you refine your calendar, you're resetting priorities (an important duty).
Appointments should not merely exist on your calendar because they have been auto-scheduled to repeat every week for five months.
Instead, set up each event with intent and only if it's of great importance right now.

3. Leave a buffer for preparation.

Professionals sometimes accidentally overbook their schedules, forcing them to sprint from one meeting to the next all day.
To avoid this, include time between events to review your last appointment and prepare for the next. If you don't, the nonstop rushing is bound to catch up with you.
The best way to ensure having enough time between tasks is to block out the necessary interludes on your calendar.

4. Add in time to breathe.

Workaholics might find it all too easy to get trapped in the constant whirl of activity. This is a recipe for burnout.
I believe in not only taking a break but also scheduling time for one during the workday. For instance, I take a daily break to get outside the office and exercise.
If a midday visit to the gym isn't realistic for you, take a walk or at least step away from your desk during lunch. Take time to sharpen the axe! 

Tuesday, January 20, 2015

7 Reasons '7 Habits of Highly Effective People' Lives on 25 Years Later

While thousands of leadership books are published each year, only a few might get some short-term success while the vast majority are quickly forgotten. So how has the bestseller The 7 Habits of Highly Effective People maintained its enviable shelf life for 25 years while so many other business and leadership books fade away fast?
First published August 15, 1989 by business management professor and leadership expert Stephen R. Covey, the book lays out seven core principles for achieving success in leadership and life—including often-quoted principles such as “Begin with the end in mind,” “First things first,” and “Think win-win.” The book has sold more than 25 million copies and continues to be used often in leadership training at companies and universities around the United States and worldwide. It’s been translated into 52 languages and helped build what’s now a $200 million enterprise.
After the huge initial success of the book, which remained on the New York Times bestseller list for 220 weeks, Covey was able to expand his training empire and author career. The book spawned an array of other books written by Covey, his family members, and others throughout the 1990s and early 2000s, including 7 Habits of Happy Kids, The 8th Habit, and 7 Habits of Highly Effective Families. More than 25 heads of state, including U.S. President Bill Clinton, asked Covey to help them learn and use the seven principles. Covey passed away in 2012 at age 79 after a bicycling accident but his empire lives on through the Utah-based global training company he helped build, Franklin Covey Co. The book’s enduring success has a lot to teach business owners and thought leaders even today, revealing lessons on clear thinking and motivational messaging a generation after it was published.
1. Be accessible. The book’s title spawned its share of imitators, proving its catchiness. But it also drew readers in, says Sean Covey, one of Stephen’s sons, an executive vice president at Franklin Covey. Stephen had originally planned to call his book “Restoring the Character Ethic,” but ultimately decided it needed a snappier title that explained the book’s takeaway in an enticing, clear way.
2. Make big ideas easy to relate to. Covey spent decades reading and contemplating the works of many “great American thinkers,” including everyone from Benjamin Franklin to Henry James Thoreau. He fine-tuned his seven key principles, based on those years of reading and research, Sean says. But he took it a step further and injected real-life experiences and examples into his book to make the seven principles more relatable to readers.
3. Don’t rush it. “This wasn’t something he pumped out over a few months,” Sean Covey says. “This was his life’s work.” Stephen first started using his seven principles in 1985 in leadership workshops at the Covey Leadership Center (which merged with Franklin Quest in 1997 to become Franklin Covey.) The workshops eventually became so popular that he decided to turn them into a book. Strangely enough, Sean adds, “at the time, they were a little bit nervous about publishing the book because they thought it might cannibalize the workshop they were teaching.”
4. Keep the message alive. The popularity of his book helped convince Covey that many people yearned for such information but needed help incorporating the principles into their lives and work. He expanded on the principles in his book by creating new training programs around them. Today, many people buy the book as part of their leadership training. As part of the 25th anniversary, Franklin Covey has introduced a smartphone app called Living the 7 Habits for iOS and Android and introduced an updated (“4.0”) version of its training program for organizations and individuals.
5. Craft universal lessons. By the late 1990s, the book was being published all over the world and today “it’s just as popular in China, Puerto Rico and Brazil as it is in the [United States,]” Sean Covey says.
The seven key principles are so enduring, Covey says, because they are timeless and universal. They point to real-life experiences—interactions between people—that anyone can relate with. Thanks to the timelessness of the advice, the book's original text has been changed only slightly over the years.
6. Share ideas that can have impact. David Esposito, who runs a personal and professional development consulting firm and an early-stage medical device company in Portage, Michigan says the book has also had a profound influence on him and his life. Two principles in the book—“First things first” and “understand before being understood”—have particularly resonated with him as he tried to balance his family life with his career. It helped him understand the importance of learning others’ points of views before making judgments or expecting others to see his point of view. “I have pen markings throughout the book,” he says, “but certain parts have really changed how I view the world.”
7. Be clear and organized. DaVita Healthcare Partners, a Denver-based kidney dialysis provider, frequently uses 7 Habits in its employee and management training programs for of its more than 50,000 employees worldwide. Jennifer Colosimo, vice president of DaVita’s “Wisdom Group" and a former executive at FranklinCovey, says she first read the book in 1994 and recently trained a group of 50 DaVita executives on the seven principles. She cites its clear message as a major driver of its popularity. “[Covey] organized these principles in a simple way that—no matter where you were—you’d be able to understand them,” she says. Colosimo notes that even Covey frequently acknowledged these weren't unique ideas. “He just organized them well.”
Esposito first read the book as a young sales rep in 1994 and still keeps it handy on the bookshelf in his office. “There’s a lot of pump-up [business] books out there,” he says. “This book …took what could be very complicated ideas and boiled them down very clearly.”