Shockingly Simplistic Book & BIG Reminder to Business Owners
I recently read the highly vaunted and recommended book “The One Thing” by Gary Keller.
The One Thing book is very interesting for aspiring entrepreneurs and even for the more experienced ones because it talks about the most often forgotten – focusing on the most important thing, the “One Thing” that changes everything, and moves you where you need or want.
The One Thing book is slim and easy to read, even for me, as a non-native English speaker. Although the book has often been a repetition of what I have been promoting for many years and I try to implement it at least partially for my clients (I probably shouldn’t openly say “beat it into their heads”), as I say. I’m definitely not a multitasking person.
Therefore, I hope that the author will forgive me and give you a few summaries and points from my point of view.
For Whom is this book really good? For business owners
The first thing I have to mention is why I think this book is good for multi-business owners. It very, very strongly emphasises the importance of prioritisation and effective time management (and here we agree). Individuals juggling multiple companies can act as a guide to focusing on the most impressive tasks (read tasks with the greatest impact) and avoiding distractions.
On the other hand, on the contrary, it may not be beneficial to experienced owners of several companies, because they are looking for more advanced solutions and this is a real basis to know.
Main 8 points taken from the book
- The focusing question: What’s the one thing I can do such that by doing it, everything else will be easier or unnecessary?
- The importance of prioritization and focusing on the most impactful tasks.
- The concept of time blocking and devoting uninterrupted time to your most important task.
- The idea of building habits and routines to consistently work on your “one thing.”
- The domino effect: Small, focused actions can lead to significant outcomes over time.
- The myth of multitasking and the value of deep work.
- Creating purposeful and specific goals.
From which you can take these 4 feasible steps:
- Identify your “one thing” – the most impactful task that aligns with your goals.
- Create a dedicated time block for your “one thing” every day.
- Practice saying no to tasks that don’t align with your top priority.
- Develop habits and routines that support your focus on the “one thing.”
And who likes quotes? These are the three that tell us everything and what you can take away from the book:
“Success is sequential, not simultaneous.”
“Extraordinary results are directly determined by how narrow you can make your focus.”
“The path of mastering something is the combination of not only doing the best you can do at it, but also doing it the best it can be done.”
11 + 3 Tips for Managing and Reducing Stress as a Business Owner
Stress and work overload is often a neglected part of many entrepreneurs’ lives. Moreover, when a company grows, you have more companies, responsibilities increase and so does the risk of stress overload.
1 – Recognising stress and understanding its consequences
Be aware of signs! Stress hides behind many subjective symptoms, but if you are irritable for a long time, you feel overwhelmed, have difficulty concentrating, experience anxiety or even physical symptoms such as headaches, muscle tension or find it harder to sleep. It’s high time to do something about it. Stress has taken up residence in your life and unfortunately is the most common cause of serious health, mental and even relationship problems.
I don’t want to name individual ailments whose main cause is stress, but let me at least say that if you don’t start stress management in time, you may burn out, your productivity will definitely not improve and declining performance may even lead to financial strain.
2 – The benefits of breaks
It is very well documented (time blocking, pomodoro technique, 4-day work week) that taking breaks at work helps. And that’s why it’s still surprising how many people still insist on peak performance in long intervals and skipping rest.
Guys! Focus and performance are like a muscle. And even marathoners choose to recover and take a break after a race.
Find your ideal rhythm for you (I, for example, work in blocks and my partner is more comfortable with Pomodoro, someone else needs to switch off at least every Sunday, and another is fine with a long weekend once a month). It’s up to you but pause.
3 – Setting priorities
My well-known saying: “Busyness, does not mean efficiency.” applies doubly here. Busyness can easily tip over into overload.
A basic rule of prioritization:
– Do the least pleasant thing first with the greatest impact on achieving the desired goal (Eat that frog).
– Next up are the urgent matters that didn’t fall into the first category, and if not dealt with, there would be a problem (and no, isn’t 99% of all the activity you think you can do about that in delegation)
– And last, there are the activities that move us towards the goal.
And nothing more! And no question!
4 – Delegation of duty
Up to 70% of your work can be delegated to someone else… Yes, 70% (sometimes even more). Can you imagine how much time you would then have and how much trouble you would save yourself too?
Delegate! Delegate! Delegate!
The rule I would highlight above all others.
I recommend a gradual handover of duties to anyone lower down the pay grade capable of completing the duty properly. Yes, it will take a little work and explaining at the beginning (yes, it can be a hassle), but please realize that you as the owner don’t have to create Excel spreadsheets, order materials or even drive on the way to meetings. (As a reminder, the business owner’s job is supposed to be primarily strategy, then business, and then sometimes at the end operational)
5 – Mindfulness
That’s a brief interlude on breaks. Learn to switch off! Something different applies to everyone, and not everyone has the cells for meditation initially. In my career I’ve seen different ways that have helped different people (dance, watch a favourite episode of BigBang Theory, take a sports car ride, go to a game, play a sport, play one COD battle), just find a not too time-consuming activity that you can unplug at. I personally try this with guided meditations into my headphones (after receiving an ugly number of speeding tickets).
6 – Stay organized
Confusion and not knowing what to where, where you are supposed to be, and what is supposed to happen now, are like a recipe book for stress. Time management, a diary, notes or a creative secretary can remove up to 38% of your stress load. As for the minimalist desk set-up being organized, I have found that it really helps, but I have also encountered clients feeling very uncomfortable in an overly minimalist set-up. Either way, some degree of organization is needed, whether as a stress preventer or productivity helper.
7 – Improving communication
It can also happen that you are stressed out just because you don’t have good communication.
Misunderstandings can be prevented by being open without prejudice and by asking questions. The basic rule is not to prejudge and to ask questions.
A poor or non-existent communication matrix in a company can cause a lot of headaches.
8 – Process optimization
Just as an inappropriate communication matrix causes confusion and stress, processes are an equal if not greater culprit, and by that I mean unset or poorly set up processes. Not knowing who needs to do what and when is a pretty risky stress factor. This is where a closer look at your operations and executive team will help.
9 – Take time to stare
I can hear the sneer now about making time to exercise when you’re struggling to eat. I hear you, and yes I was there once too. However, based on many studies and years of experience, this extra activity feels like a time paradox. You add activity and then you have more time.
What is it? Substances released in the body during and after exercise act as stress relievers, boosters for your concentration and performance, pills to calm you down, viagra or even sleeping pills.
It’s not a miracle, it’s hard work because those muscles have to move to get your own pharmacy going.
10 – Eat healthy
A standard cliché for which Warren Buffet is a prime example of the exception proving the rule. Would you give your children and loved ones what you feed yourself? If not, then don’t eat it either.
It takes fuel to perform. Fueling the body relies on nutrients, vitamins and minerals taken from whole food. You also don’t put some breaded fuel full of chemicals in your sports car, you put the cleanest fuel possible. Don’t ruin your own engine and take proper care of it or your performance and sanity pistons will seize up.
11 – Get enough sleep
I know what Arnold says about sleep duration, but I also know what causes six hours or less of sleep… Besides a possible heart attack (which Arnold himself had) many other maladies. From increasing irritability, and decreasing concentration to permanent consequences. A grown man needs 7-8 hours a day to exercise, and a woman 8-9. Daily, my friends, not once a week.
I understand you’re thinking that this is time you can’t afford, but as is the case with exercise, adequate sleep helps for better performance, and even decision fatigue occurs more often/earlier in tired individuals.
12 – Avoid unhealthy habits
Drugs, smoking, alcohol. The holy trinity of unhealthiness. I really don’t think I need to reiterate the implications of this trinity and so just as a reminder: Forget it. It doesn’t improve or change anything, it just costs money and health and makes you feel worse afterwards.
13 – Prepare a strategy for a rainy day
Scouts have survived many with a smile just because of their motto “Always prepared”.
Life insurance policies were created from a similar perspective. Yes, it can be stressful to think about what bad things could happen (just for a little while), but just as your businesses certainly have contingency plans, have a contingency plan for possible tense situations.
14 – Get help
Whether you need a therapist, a sparring partner for a brainstorming session, or even just to the gym, one thing is for sure. No one achieves success alone. Consider what you struggle with the most and take courage, drop your pride and really get help. Remember, the best have coaches.
I’m 100% sure I didn’t come up with anything new today. We all kind of know deep down, we all know the theoretical part of it. But let me give you this little reminder that the practical part takes some effort and some work. And no, no pill is gonna take the stress away. Maybe it’ll relieve something somewhere, but at what cost? Stifling something else? Side effects?
If your boiler starts leaking, do you solve it by closing the door so you can’t hear the water dripping? I don’t think so.
You’re an entrepreneur and by your very nature you’re entrepreneurial and proactive and since we know the price of that nature it’s good to learn how to take care of yourself and handle stress management.
Photo by JESHOOTS.COM on Unsplash
From Challenge to Triumph: Navigating ADHD Business Owners
I work with highly motivated individuals daily who want to achieve peak performances. And because my clients are entrepreneurs, the challenges associated with ADHD can be truly unique. Today, I’m going to dive into how ADHD can intertwine with high-performance business.
We’ll explore obstacles, uncover effective strategies, and draw inspiration from remarkable success stories that prove that ADHD can be a catalyst for entrepreneurial brilliance.
Challenges of business owners with ADHD
ADHD, or attention deficit hyperactivity disorder, is often associated with frequent impulsivity and inattention. Disruptions to productivity, missed deadlines, overlooked details, and sometimes a certain level of chaos, can lead to inconvenience.
For example, we can mention: keeping track of tax reports, impulsive product launches without proper preparation and research, underestimation of tasks, etc.
The ADHD mastery blueprint
As a coach, I often advise my clients to implement simple yet effective strategies to manage ADHD while excelling in their business ventures.
Here’s a plan for managing ADHD:
- Time management – Start planning from necessity (starting with sleep) and break it down into smaller/shorter tasks. If it suits you better, use visual tools to plan your time.
- Distraction – Minimize possible sources that could interfere with your focus and progress flow. Try to create an environment free of unnecessary imputes, remove clutter, turn off notifications, and consider noise-cancelling music or headphones.
- Self-care – Individuals suffering from attention deficit disorder often neglect themselves, do not follow a balanced diet and do not get enough necessary relaxation. By establishing constitutive routines, including eating and sleeping, is an ideal tool to improve an individual’s life.
- Reward – Even a small success is worth celebrating. After a small task, a piece of chocolate can come, after a lot of hard work, a moment with your favourite computer game, and in the evening, after a hard day, a new episode of the series. Everyone has their own. For me, it’s important to maintain a positive mood, healthy motivation and a desire to move forward.
Embracing of strengths of ADHD
It’s not just the challenges ADHD is also an incredible set of strengths that are just rewarding when it comes to business. You are creative and innovative thinkers capable of juggling multiple tasks at the same time. Breaking boundaries and pushing limits to the competitive edge is your domain.
Sometimes this “attention deficit disorder” oppositely manifests itself – hours spent on focused development down to the most detailed details.
Success stories
Many famous entrepreneurs have defied the preconceived ADHD box and are an example of how to be successful despite all the pitfalls associated with ADHD.
From Sir Richard Branson to IKEA founder Ingvar Kamprad to Michael Phelps demonstrate that ADHD, when understood and managed effectively, can be an asset rather than a hindrance in the business world. Their stories serve as inspiration for others with ADHD who aspire to achieve greatness in their entrepreneurial pursuits.
Years of working with my clients have taught me that success comes from embracing your uniqueness, and your unique qualities. Proper understanding and effective management of ADHD sites is a powerful asset to unleashing entrepreneurial brilliance.
Remember, ADHD is not a hindrance; it’s a unique perspective that, when harnessed, can lead to extraordinary achievements.
Beyond Buzzwords: The Real Impact of Efficiency, Effectiveness, Performance, and Productivity on Your Business
In the fast-paced world of business, concepts such as efficiency, effectiveness, performance, and productivity are often tossed around like confetti. But what do they really mean for your business?
In the fast-paced world of business, success often depends on subtle nuances that can make a huge difference. As a multi-business owner, you are constantly tackling various tasks to increase growth and profitability. But are you focusing on the right areas? The concepts of efficiency, effectiveness, performance, and productivity are often mentioned in business circles, yet their deep understanding and differentiation remain a hidden truth for many.
Efficiency: The Art of Ingenuity – or “Doing Things Right”
Efficiency is often compared to cost savings, but it’s much more than that. Efficiency is all about optimizing resources.
It’s the art of achieving maximum productivity with minimal unnecessary effort or cost. In a practical sense, efficiency in your businesses can look like streamlining operations, automating routine tasks, or even finding faster routes for logistics. For example, automating routine tasks in your businesses can save time and reduce errors, which epitomizes efficiency.
However, efficiency is not the main and final thing; It’s just one piece of the puzzle.
Effectiveness: Doing the Right Things
Efficiency shifts the focus from how resources are used to the results achieved = what is being done, and its alignment with overall goals.
It’s about the end result and how closely it matches your desired goals. For example, a marketing campaign that significantly increases your market share is proof of effectiveness regardless of the resources spent. In your businesses, this may mean launching a new product that perfectly meets the needs of the market or implementing a strategy that outperforms the competition. The impact of efficiency is clear: achieving specific desired outcomes that move your business forward, regardless of the resources spent. However, remember that efficiency without efficiency can lead to unsustainable practices.
The key here is goal-oriented and result-oriented.
Performance: Action Measurement
Performance is a testament to your business.
Performance in business is a complex concept encompassing the act of performing a task and evaluating that execution against known standards of accuracy, completeness, cost, and speed. For a multi-business owner, performance can mean how well each segment of your business meets its specific operational goals and benchmarks. This can include analyzing sales data, customer satisfaction scores, or employee productivity. The real impact of good performance is twofold: it gives a clear picture of where your business is and offers insight into areas that need improvement.
It’s a holistic view that can include aspects of both efficiency and effectiveness, depending on the specific metrics used.
Productivity: Output/Input Ratio
Productivity meets the concepts of efficiency and effectiveness.
Productivity meets the concepts of efficiency and effectiveness. It’s about how much output your business can generate with given inputs. In a concrete sense, improving productivity can mean that your production line produces more units in less time without compromising quality, or that your team handles more client inquiries without additional staff. It is the volume of output relative to the input used in the production process. In a business context, this could mean producing more goods with the same amount of resources, or maintaining the same level of production while reducing resource consumption.
Impact? Higher productivity can lead to increased profitability, better competitive standing, and sustainable business growth.
Integration for Impact
Understanding these four concepts is just the beginning. The real magic happens when you incorporate them into your trading strategy.
- Balance efficiency and effectiveness: When streamlining operations, ensure that the quality of output or the achievement of business goals is not compromised. Ensure that your efficiency efforts don’t compromise your efficiency. Streamlining processes shouldn’t come at the cost of not meeting your business goals.
- Use performance metrics wisely: Let performance data guide your business decisions. Identify areas where efficiency can be improved without compromising effectiveness. Regularly evaluate the performance of various aspects of your business. With these insights, you can make informed decisions that will increase both efficiency and effectiveness.
- Increase productivity through innovation: Encourage innovative approaches to increase productivity. This could include adopting new technologies, revising operational strategies, or empowering your employees’ ability to think creatively.
- Balance is the key: Strive for a balance between all four elements. Too much emphasis on one at the expense of others can lead to suboptimal results. For example, extreme efficiency can hurt efficiency, leading to poor performance and reduced productivity. Strive for a balance where efficiency, effectiveness, performance, and productivity intertwine, resulting in a well-rounded and successful business operation.
Efficiency, effectiveness, performance, and productivity are more than just buzzwords; They are essential devices in your business. Understanding and applying these concepts can lead to remarkable improvements in how your business operates and thrives. By going beyond the jargon and into the realm of real-world applications, you can transform these concepts from mere words into powerful tools for business success.
Photo by charlesdeluvio on Unsplash
One of the biggest strategic challenges: Multiple teams
Project managers and business owners often lead their teams with an overview and success to their goals. However, if your company, global reach and industries are expanding, it’s quite possible that old practices may not quite work.
So let’s take a look at how to lead multiple teams with peace of mind and comfort…
Know your multiple teams and take proper care of them
The alpha and omega of each team, which now pays as many times as the teams you care about. By knowing personality types, strengths and weaknesses, you can regulate communication and keep performance at the desired level along with a balance of motivational boundaries. Regular care should be sharing ideas and opinions, training, and also pushing out of the comfort zone.
Clarity
Setting a clear goal, a strategic plan to achieve it, together with the creation of basic rules, is an absolute and necessary basis. Most project managers know this and try to gradually build a kind of matrix that they fine-tune and apply to their projects and teams over time.
However, if there are more teams, this foundation is the key to success, survival and coexistence of individual teams, and its imperfection leads to confusion, delays, stress, loss of overview and control (not to mention business and health).
Communication and responsibilities
Establishing a clear communication matrix and line of authority. Who is responsible for what, who passes on information to whom and in what form so that it does not happen that you are unnecessarily bothered by trifles and overwhelmed with requirements that fall within the competence of the team leader three orders of magnitude lower. Yes, it is necessary to talk to team members, but to a reasonable extent, I sometimes recommend so-called office hours. Therefore, training and proper leadership of leaders at each level is also key, who will also be able to find ways to lead to manage the responsibility of team members for actions and misdeeds.
Communication is the basis of everything, and since the team is made up of people, you also need to count and prevent misunderstandings and conflicts (although the leaders of the individual parties should help you with this). You, as the “Commander-in-Chief”, must use your team leaders to find the most appropriate way and schedule for communication. Ideal for you is the unification of teams on one wave, one tool, a matrix that is applicable across all teams.
I hope I don’t need to remind you that part of every good corporate communication is constructive and honest feedback, motivation and support.
Use of appropriate tools and technologies
Today’s era abounds in a variety of technologies and programs to communicate, manage projects and share the work environment. It does not always have to be an expensive and sophisticated tailor-made solution, it depends on your technical prowess and symbiosis with you (you will use it never forget it).
What should the tool do? What information is key for you? Can you work with the program? Or even set it up? Do you have to do the whole realization yourself? What program can be used under already existing processes? These and other similar questions then help in the selection of suitable tools…
Consistency
Be consistent – arbitrary changes in plans, dis communication, or lack of communication only cause confusion and chaos. By setting the right processes, communication matrices, and lines of authority (see above), you can more easily identify high-quality and strong strategies and procedures to lead multiple teams.
Not all teams can be led as through a photocopier, not all projects are the same.
As a good leader, you plan wisely and self-critically consider whether you have enough control over the transition between teams, you understand that every team is different, even if you try to keep the foundations similar. Do not juggle. Know the challenges and the current status of what the teams are working on. But beware! This is not micromanagement, as it itself is contrary to the possibility of managing one let alone multiple teams.
A system set up to allow you to have an overview of current events (numbers) with one click is one of the things that allow you to successfully manage multiple teams. But. It’s also not just about expensive software that can do magic, it’s about processes and procedures that ensure that you have something to look at after that “one-click” (you didn’t have a blank spreadsheet).
You are faced with a challenge worthy of a true leader.
Team performance depends on the right balance.
- Processes
- Communication
- Personality types
- Knowledge and know how
And it is up to you, the most important point of reference, to decide what to support when and how
A successful team is a group of many hands and one mind.
Bill Bethel
14 Ultimate strategies for overwhelmed business owner
The business is happily going, you have interesting ideas, but… You are overwhelmed business owner, so busy with something, you don’t even really know what, that you can’t realize them and scale up your business.
And to make matters worse, you are struggling with the so-called new normal (i.e. new and new restrictions, measures, rules, changes, but also huge opportunities).
I see it regularly. Successful entrepreneurs, owners of large and small businesses, will all feel relieved when they use a few (or at least one) of these strategies:
1. Step back
Take a deep breath and take a good look around. Unfocused decisions can be bad decisions. And since many people can’t calm down and detach until they get an accurate picture of the situation, it’s a good idea to take advantage of a third-party perspective. Often, meditation sessions, personal coaching sessions, sports, massage, something that will help relieve stress, or just bring the right perspective can help.
2. Analyze
What throws you off? When do you feel overwhelmed? How often? How and what do you do? What do you accumulate in? What would you need to subtract/pass on? Observe, record, and try to find patterns and triggers. (You can get help for this as well. In fact, you don’t have to be completely alone for anything! This is also a key lesson).
3. Proper Planning
Maybe you feel like you have to master everything from your to-do list (right now and on your own). I don’t think so. In the hurricane of duties and our own tasks, we often forget about the right prioritization. Often this is a problem associated with the inability to delegate, see below, or it can also be a consequence of adding without continuous removal. (An interesting book on this topic Subtract by Leidy Klotz).
But the Eisenhower Matrix still remains the simplest tool for prioritizing.
Hence the aforementioned delegation…
4. Delegate
For those who are still hesitating and keep rolling the familiar cliché “What can you not do yourself…” I have a simple mathematical example. How much does your time cost? How much does the assistant’s time cost? Can the assistant create a presentation for the client? Even if it takes her twice as much as it takes you, the cost of her salary is much lower than the cost of your time or the returns you can bring in at the same time.
The right people with the right skills can even be more expensive than your time if they deliver the results in less time and better quality.
5. Automation
A lot of things can be automatized, using the right programs and tools. By setting up the right workflows, you can still be productive and at ease. Unless it is strictly necessary (and here it is necessary to consider it) to be at each transfer of information, avoid it. Two things are important – that it runs like a wire and that at any moment you have the opportunity to know the current state, instantly, whether in the form of reports, monitoring, visualizations or verbal announcements from an authorized person (again, see delegation).
6. Focus
Delete yourself to limit multitasking to the lowest possible level, and if the hustle and bustle of your office are such that it cannot be 100% prevented, try to set aside time for deep work. You can start with short stretches and gradually lengthen them, you can alternate them in different ways, it depends on what and how you need. Someone helps music to fix on the job.
However, do not forget about transition time. Whether it’s moving between meetings, mentally retuning between tasks/activities, it takes a while. Keep this in mind when planning.
7. Off from work
Try to mentally disconnect from work when you are not in it, you are at home…, concentrate on the present moment, whether it is building a puzzle with children, playing golf, or other rest suitable for you. Stress is not healthy, and its increase can affect not only work performance, but also your health.
8. Fine-tuned Notifications
Not every beep is important. Social networks and other applications with their increasing notifications can easily disrupt concentration or even cause the urge to interrupt everything, at least mentally we have remorse “what if…, I have to answer him…” A few selected contacts/threads for urgent and high-priority cases and the rest to dampen. Set an hourly interval (or longer) to update emails, turn off most mobile networks. This is doubly true for the period of rest and sleep. Even today’s ubiquitous smartphones have a “bedtime mode”, which is excellent especially for those who are not willing to leave it in front of the bedroom door.
9. Frog
Perhaps we all know the wisdom “Eat that frog” >” that advises first to deal with the biggest/most unpleasant/bitter task. Not only is there no danger of further procrastination, but on the contrary, it will kick us. The feeling of overcoming something unpleasant and “fear-mongering” will give us energy, boost self-confidence and increase performance. And most importantly, it will reduce stress levels. A rolling stone always grows like a snowball.
10. Performance support
Whether it’s coaching, external help, a consultant/analyst, or hiring a partner with whom you can share responsibility, you will always be relieved – in the number of responsibilities, stress, time…
11. Be consistent
And not only on yourself but also on others. I know from my own experience that a common cause of the overload is non-compliance with deadlines in the lower chain. Establish the right strategy with a fixed deadline and stick to it and enforce it. It is important to set realistic (achievable) deadlines that are not very ambitious, and not to forget the reward (for yourself and the links of the chain = team) for timely, or even premature, fulfilment.
12. Correctly say no
An oft-repeated mantra to relieve stress and time. However, entrepreneurs know that if they refuse to work now, they may be without contracts in 18 months. The business owner takes a different approach. If it is a job case consider the following:
- Do I have the capacity to do that now?
- If not, can I outsource it?
- Is it worth it?
- Will it move me somewhere? (or does it just jam me?)
Knowing when to say yes and when to say no is a very important skill belonging to a successful business.
13. Forget about micromanagement
He has never testified and will never lead to good performance and productivity. Choose employees who know the field and cultivate leaders who will lead them to the desired results (Whether Henry hammers a nail with his left or right-hand does not matter).
14. Motivate and listen
When I mentioned strictness, I did not forget to mention the need for a reward after reaching a certain target. If you keep yourself and your team motivated, they will also perform well enough to focus on strategic things and release your overload. It’s the same with listening. You wouldn’t believe how much money and time you can save by listening to the people who are doing the job. It’s worth it!
Although these strategies are primarily aimed at the business owner, make no mistake, in principle they can also be applied to the operation of the entire company. The owner was at the birth of this company, the owner is the soul of this company, and what we will talk about, entrepreneurs have the DNA of the company so deep that they are one and as once they often function.
If you don’t drive your business, you will be driven out of business.
B.C.Forbes