In 1998, I listened to James Paramore give a speech entitled, “Life Will Be a Challenge.” In that talk, he re-told a true account about a school teacher who was following up on a summertime assignment by asking her students what important lessons they were taught about self-reliance during their summer vacation.

After several accounts of “lessons learned” were shared, she asked Johnny what lesson he had learned. Johnny replied. “Well, my dad taught me how to swim.” “Fantastic, Johnny. That’s a great thing to learn.” “Yeah,” Then he continued, “He took me out in the middle of a lake, and he just threw me overboard, and told me ta swim back to shore.” “WOW!,” the teacher said. “That took a lot of courage.” “Yes it did,” Johnny said, “but it wasn’t all that bad once I got myself out of that darn gunnysack!”

Well, I got a chuckle out of that little story—that was about 11 years ago and it struck me pretty powerfully at the time, because I’ve actually felt like that before—sort of stuck in that gunnysack, trying to swim to shore—especially back then when I was just venturing out as an entrepreneur.

I’ve felt like that when I was trying to launch my very first company in 1992. I felt like that when I was trying to figure out how to take a company to the next level after Venture Capitalists invested millions in my company. I’ve felt like that while trying to figure out the latest marketing method, copywriting technique, or blogging strategy. I’ve felt like that at many different stages while trying to sort through the avalanche of business information that’s out there…

Maybe you’ve struggled in a similar way? Maybe you’ve struggled to decide on a business concept. Maybe you’ve struggled with Internet Marketing, raising capital, finding a partner, purchasing a business, managing cash, or changing your business model. Perhaps, you’ve struggled to really learn how to become as successful in your business as some of those great entrepreneurs that we’ve all watched and admired from a distance.

You know, those who are the true Masters of Business have figured out what really works and then went out and did it. They didn’t focus on the fact that they were out the middle of the lake, stuck in a gunnysack. They focused on how to get out and get moving.

I want to know what you are doing right now, to wrestle your way “out of that gunnysack”?

Are you up to the challenge of business?

Will you sink or swim?

My friends at Early To Rise (Agora Learning) have a lot of great tips and advice about life and business.

Recently, Michael Masterson wrote about Productivity and outlined, “4 Things You Can Do to Give Yourself Lots More Time to Be Lots More Successful.”

Phew! It’s a mouthful, but I thought his simple suggestions were useful and interesting:

“…this article is about stealing time for yourself. So I am going to make a number of suggestions to help you find more time to invest in your future health, wealth, and happiness… if you are willing.

Limiting Your Shower to Two-Minutes

I know how much you like to stand under the hot water and soak. I know how it relaxes you. But spending 15 to 30 minutes a day in the shower (as many people do) wastes a ton of water and time.

Save the planet. Improve yourself. Take shorter showers.

Amount of time you will save by taking short showers: 79 to 170 hours a year

Eating at Your Desk 

I used to like hour-long business lunches. Then I got smart and started eating at my desk. I eat lunch at a restaurant two or three times a month. That’s it. And it’s always social. Never business.

Instead of letting vendors treat you to a fancy meal, let them spend their lunch money on giving you better prices.

Bottom line: Business lunches don’t save time. They waste time! And money. Eat at your desk.

Amount of time you will save by eating at your desk: 250 hours a year

Insisting on Very Short Meetings

I figure about 80 percent of all the hour-long business meetings I have ever had need not have taken more than 15 minutes. Moreover, 50 percent of the multi-day business retreats I’ve attended could have been done in a day or a half-day.

Business meetings are like basketball games. Players spend most of the time throwing the ball back and forth while the score stays close. It’s only in the last 10 minutes that they get serious and really play to win.

If you plan them well, you can significantly reduce the time you spend in meetings. Well-planned meetings have the following characteristics:

·                     They focus on a single topic.

·                     That topic is expressed concisely before the meeting in a short memo.

·                     The meeting is conducted by someone who encourages ideas but cuts

off digressions and pushes toward solutions.

·                     The right people are there - never more than seven.

Time you will save with 15-minute meetings: 75 hours (assuming 100 meetings a year)

Answering E-Mails Efficiently

I answer e-mails only once a day - at the end of the day. This saves me tons of hassles and passels of time. Why? Because three-quarters of the 100 e-mails I get every day are other peoples’ concerns. It’s much better for them, and more time-efficient for me, if I let them solve their own problems.

When I do answer e-mails, I make my answers short and to the point. When I have something difficult or negative to say, I don’t use e-mail because it can cause confusion that results in lots of extra e-mails to clear up. Positive comments can be made very quickly. And if something can’t be explained quickly, I do it in person or on the phone.

Every once in a while - maybe twice a year - I ignore my rule and start the day by doing e-mail. And I have noticed that when I do that, it takes a lot longer. That’s because in the morning I feel like I have plenty of time and tend to write longer answers when shorter ones will do. I have actually tracked the time it takes me to do e-mail both ways. When I start in the morning, it takes about 90 minutes to get through 100 e-mails. When I wait till the end of the day, it takes between 45 and 60 minutes.

Time you will save by answering e-mails for only 45 minutes a day: 185 hours (assuming you check e-mail 250 days of the year)

The Impressive Total

Tally it up. I’ve just shown you how you can save 589 hours a year, at the very least. That is the equivalent of more than 14 40-hour work weeks!

Think of all the things you could accomplish with an extra 589 hours each year. Then make the changes and get going”

Amen.

Over the last several weeks at Northstar Ventures we’ve had to trim our costs and hunker down just like so many other companies. It’s been a gut-wrenching process. We’ve trimmed our staff by 35% and it’s not been fun for anyone…but it’s especially painful for those who end up on that chopping block.

As a CEO, the hardest part about making layoff decisions is trying to set aside emotion and make decisions based on performance and quantifiable value. I’ve found that in times like these, it actually becomes quite apparent who on your team is vital and who can be let go without much negative impact to the business.

Whether you are the decision maker about “who stays and who goes” or if you’re worried about ending up on the chopping block…here are some things to consider:

• Top sales people stay. They keep fuel in the engine.
• Unless paid on 100% commission, mediocre sales people who barely or rarely meet quota must go; now.
• Management team members should only stay if their departure would cause the company to falter substantially. Otherwise, it’s time to say goodbye. One big salary can pay a lot of bills.

• In a season of deep financial concern and widespread layoffs, those who remain should also sacrifice. Trim remaining salaries by at least 5%.
• If you almost fired someone in the past, then they should be near the top of the list when considering layoffs. Unless they’ve made a dramatic improvement, they’re gone.
• Marketing assistants (and assistants in general) are targets. Any worthwhile Marketing Manager (or Managers in general) should be able to absorb the tasks of an assistant until the situation improves.
• Employees who have done a good job of pointing out and proving why they are a resource that you can’t do without should survive if at all possible. You want useful fighters in a time like this.
• Employees who are barely noticed are usually barely noticed when you let them go.
• Don’t underestimate creativity. A reduction in time or pay from three people can equal a full headcount reduction. Find out what people are willing to do before making final decisions.

In July, 2007, Inc. Magazine surveyed business owners on the topic of downsizing. I thought some of the results were insightful:

“Who did our respondents fire? Well, it didn’t always pay to be close to the boss: 12% fired their secretaries or assistant.

The most fired department: Sales and Marketing. Other endangered staff members, IT Specialists, Project Managers, and ironically, the Head of Human Resources.”

My friends, this is most definitely a season of change. It’s a season of scarcity and real lives are being affected.

In the end, these times make us stronger and new opportunities are created. In the end, we’ll be better for it.

Until then….Bosses, chop carefully, thoughtfully, creatively, and with compassion.

And to those who are worried about being chopped? Get out there and do everything in your power to drive sales or become a part of the business engine that’s expensive and difficult to replace. Be the transmission.

Check out this great post for more information about this topic:

10 Tips for Downsizing with Grace in Difficult Economic Times

Top 7 Survival Tips to Deal with Downsizing in the New Economy