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

Sometime after 8pm or so, there are a bunch of rickshaws for hire in downtown Austin. You know, a rickshaw, a two-wheeled cart which seats a couple people. You see them all over New York and Asia. In Austin, it’s a perfect way to get from one music venue to another that’s a mile or so down the road.

All of the rickshaw operators ride bikes and pull their passengers from place to place. It’s become a very competitive little business out here.

Recently I met a rickshaw operator that found a way to differentiate himself from the sea of competitors.

He found a way to be different, grab attention, earn loyalty and beat the competition. In fact, I was so impressed that I added him to my contacts in my iPhone—he’s there as “Energizer Phil.”

Energizer Phil wears these funky bunny ears and is the only guy in Austin who literally “runs” his rickshaw business the old fashioned way—the way it all started in Asia—by running his passengers from place to place. He’s got a ton of energy. Forget the bike, this guy truly earns his cash!

(And the funny thing was, he would run right past the guys cruising along on the bikes!)

His outfit, his hustle, and his uniqueness captures the attention of almost everyone on the street as he runs passengers up and down Sixth Street.

When I got out of a concert, I called him back up so he could take me to my car. And I tipped him really well. I doubt any of those regular bike rickshaws get that kind of repeat business and generous tips.

It doesn’t matter how common or competitive your business environment is. If you’re willing to be creative, unique, and go out on a ledge; there’s always an interesting way to out-do your competition.

Check out these great posts for more information about this topic:

Tips for Entrepreneurs

Are You An Innovator, Immitator, or Idiot?

There are good reasons why over 30 million Americans have chosen the path of entrepreneurship. But some of the most important reasons are often overlooked.

Entrepreneurs are responsible for starting and running the small businesses throughout our cities. These people include the local dry cleaner, auto dealer, restaurateur, franchisee, personal trainer, and grocer. They’re responsible for the technology we rely on every day—cell phones, Internet access, hardware, and digital entertainment.

An entrepreneur is a visionary and a builder of businesses. They build profitable companies that sustain our nation’s financial foundation. While their initial reasons for venturing into startup-world might go no further than the pursuit of personal wealth, they ultimately play a significant role in our society. As articulated by Peter Drucker, “Business isn’t just business. It’s the economic engine of democracy.”

The personal reasons for following the path of entrepreneurship vary. Typically, the greatest motivations come from the prospect of wealth, security, being the boss, freedom, and a passion for a product or service. All good reasons. Fifteen years ago, my main reasons for going solo were basically the same. I suspect your reasons might be similar.

It’s taken me 15 years to realize, though, that entrepreneurship is about more than achieving the obvious objectives—much more. The fact is, those who pursue entrepreneurial success meet unexpected tests and trials that shape them for good.

Here are five reasons why starting your own business will mean more to your life than you think:

1. You’re going to be tested. Hammered, actually. When I started my journey as an entrepreneur, my vision was fixed on the financial rewards of growing a business. I had no way of knowing how many great personal tests I would face along the way. I was too inexperienced to anticipate how market factors, competitive pressures, cash constraints, and managing employees would create an environment of nearly constant pressure. New twists, turns, and surprises surface with exhausting frequency. There’s a wise saying that “…hammering hardens steel and plays havoc on putty.” It’s the opportunity for you to become strengthened and refined under the heat and hammering of business challenges. Sadly, many wilt, falter, or fail under these circumstances. So be prepared to face and conquer real-life tests as an entrepreneur and to be better for it.

2. You’re going to fail. That’s a good thing. Think of failure as the toll paid for future success. Every great success story includes painful chapters of failure and misstep. It’s a fact that through failure, questions are answered and solutions are discovered. Og Mandino said, “Failure is the highway to success, as every discovery we make of what is false leads us to earnestly seek after what is true and points out some error which we shall afterward carefully avoid.” And it’s the experience of failure that breeds the ability to be flexible, humble, and thoughtful—qualities required to create a company that can stand the test of time. Flexibility, humility, and thoughtfulness go a long way in life, too.

3. You’re going to learn patience. It develops as a natural result of the hammering and the failures that you’re sure to experience. Patience is the trait that truly separates inexperienced entrepreneurs from the seasoned and successful. Patience earned through experience is what allows a business operator to get beyond idealistic dreams and deal in the world of sound, realistic expectations. Pray that it develops within you as soon as possible.

4. You’re going to have a major impact on people. It’s inevitable. People—perhaps many people—are going to give a portion of their lives to your cause. This isn’t a small thing. Your actions toward your customers, vendors, and especially your employees will have a positive or negative impact on their lives. You will learn that managing people is really about leadership, and leadership is about inspiring people to reach their full potential. In The 8^th Habit, Stephen Covey explains that it is absolutely crucial that we “…find our voice and inspire others to find theirs.” And again, from Drucker, “Management is about human beings. Its task is to make their strengths effective and their weaknesses irrelevant.” I hope that as you build your company, you will find that it is an ideal platform for doing much more than selling widgets—the opportunity is there to change many lives for good.

5. You’re going to develop character. Sure, you might get rich, retire young, and travel the world, too. But realize that this isn’t really the end game. In time (sooner rather than later, with any luck), you’ll recognize that building a business is much different than what you might have initially envisioned. If you choose to pay the price for success, you’ll find that it’s actually much harder than most accounts of business success would suggest. But through that hardship, great rewards are available. While there is no guarantee of riches, through the pursuit, you will obtain rewards of character. And the development of sound character is perhaps the most important perk of entrepreneurship. At the end of the day, no one really cares how much money you made. They care about who you are.

We all have perceptions of what it will be like to reach a certain goal. And when we finally get there, we usually find a completely different reality than what sparked our action toward the goal. As an entrepreneur, that has been my experience. I have been pleasantly surprised by the lasting benefits uncovered through the lessons of my business experience.

Entrepreneurship is one of those things that can provide greater results, greater benefits than you might have initially expected. You’ll develop deep life experience and a level of humility as a result. You’ll gain patience and have a great impact for good on many people. And ultimately, that is the most important benefit of your pursuit.

Let me introduce you to David. He’s one of the janitors who works in our office.

This guy is amazing, really.

I first met him a few weeks ago…I couldn’t help but notice him!

That’s because one evening I was startled when I heard our front door burst open, and then heard a rapidly rolling trash bin and keys jingling loudly rushing toward my open office door–I was immediately in the state of “fight or flight” because I actually thought someone was being chased through our office!

Before I could get out of my chair to defend myself, David-the-Janitor ran by my office pushing his trash-bin-on-wheels.

That’s right, he literally runs through our office, from cubicle to cubicle, emptying our trash bins!

For the next week I watched him run around the office, doing his job as if the world depended on him to get it done.

Honestly, I was inspired.

How often do we drag through our daily responsibilities or trudge through life without passion or energy?

Finally, one evening I invited him into my office to take a break…I proceeded to utterly confuse him with my terribly broken Spanish. But we managed a basic conversation.

After we got acquainted, I asked him if he ran like this through the entire building and he said, “Si!”.

I asked him if his boss was the devil or something and he said, “No!”

So I said, “Then why do you run, David?”

He replied, “Rapido es Happy y slow es Sleepy!

Wow. Here’s a guy who does something basic, something a lot of us would probably complain about…and he’s found one of the great keys to happiness…

Work hard, work rapidly, and take pride in whatever it is you do–and be happy.

Thanks, David!

Check our these great blog posts for more information about this topic:

Finding Passion at Work

Passion to Work

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