Two Techniques for Turbulent Times

There are two techniques that can be useful in developing the foresight that is a hallmark of effective leaders. Practice Crisis AnticipationThe first is called “crisis anticipation” and it involves looking ahead as far as you can and asking,  “What could possibly change or go wrong that would threaten our survival?”  Think About The Worst Possible EventFor example, what would you do if interest rates doubled, as they have done in the past? What if your best-selling product, or service, suddenly stopped selling, as often happens in high-tech industries in times of rapid change. What if a key executive died unexpectedly or your offices with all your records were destroyed by fire? What if you lost your key customer or… Read more

Apply the 80/20 Rule to Everything in Time and Life Management

Before you begin work, always ask yourself, “Is this task in the top 20% of my activities or in the bottom 80%?” The 80/20 Rule is one of the most helpful of all concepts of time and life management. It is also called the Pareto Principle after its founder, the Italian economist Vilfredo Pareto, who first wrote about it in 1895. Pareto noticed that people in his society seemed to divide naturally into what he called the “vital few,” the top 20% in terms of money and influence, and the “trivial many,” the bottom 80%. The Great Discovery He later discovered that virtually all economic activity was subject to this Pareto Principle as well. For example, this rule says that… Read more

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