Common Wisdom

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Rules of Finance:

  • Dont run out of cash
  • Make smart investment decisions
  • Make smart financing decisions

Rules of Management:

  1. Set goals and expected results for your employees, write them down max. 250 words, readable in a minute.. This way, all parties will know what a success is.
  2. One minute praise: tell your employees when they do something right.. This way they will try to do more things right until they do all right.
  3. One minute reprimand: when your employees do wrong tell them what they did wrong and how could do it better. Don’t mistake this as being angry to a person but being not satisfied and sorry for them making wrong.

Typical Business Strategy Script

  • Company – info on company
  • Market – info on market, environmental analysis
  • Competitors – info on competitors / competitor analysis
  • Competitive Situation – Five forces analysis, Capabilities analysis, Competitive Life Cycle Analysis, Strategic map
  • Conclusion & Recommendations
  • Resources

When an acquisition is on the topic, ask yourself:

  • How much of an effect would the acquisition have on the market value of the firm
  • How much will market prices fall if competitors made the acquisition instead

Productivity (Ref: ayearofproductivity.com):

  • Productivity is sum of Time,Energy and Attention
  • Look for Pareto’s law (80/20) in what you do and find that 20% and then work on them. (Focus yourproductivity on most efficient tasks)
  • Set your body for productivity: Eat well, Get enough sleep, Exercise & Meditate
  • Form good habits to automate good and productive behaviour.
  • The best way to feel motivated is to know why you want to get smt done.
  • Do at least one important but not urgent task every day.
  • Set 3 outcomes a day (not to dos)
  • Productivity isn’t about how much you produce it is about how much you accomplish.
  • Use schumpeterian cycles to maximize the rents from your life. Always increase the bar.
  • Learning is 70% doing, 20% studying, 10% coaching
  • Pomodoro technique
  • Fast reading techniques
  • meditation

Quotes:

  • Only doing is doing, knowing is not doing (PRD)
  • Problem is the difference with actual and desired outcome.
  • Sales is understanding.
  • Brand is a promise. Strong brand is a promise kept, always and everywhere.
  • Features tell, benefits sell
  • Marketing is management of profitable customer relationship
  • Hayat seni güldürmüyorsa espriyi anlamamışsın demektir. Antonakakis chehov
  • What gets you here won’t get you there.
  • Material beats method
  • Procrastination is like masturbation, in the beginning it feels good, but in the end, you’re just f***ing yourself!― Michael McCarthy
  • Early to bed, early to rise, makes a man healty, wealty and wise – Benjamin Franklin

Tips:

  • Save 10% of your income to work for you. Make investment with that money and invest its gains again. (Finance)
  • To go deep in the reasons ask yourself 5 consecutive times why
  • Sharpen your axe before chopping the tree – Abraham Lincoln
  • Always think‘why’ ahead of doing something
  • Pareto’s Law = 80/20 technique – 80% of your outcome is results of 20% of your efforts.
  • Goals shall be Specific, Measurable, Attainable, Realistic & Time based
  • To enjoy an occupation you shall have autonomy, mastery and purpose
  • If any action takes less than 2 minutes, do it immediately. (GTD) (PRD)
  • Parkinson’s lawis theadagethat “work expands so as to fill the time available for its completion”.
  • Economic Profit:Toplam hasılatın, fırsat maliyetini aşan kısmı

Ideas:

  • The evolution of mankind depends on one system: trial and error. Learn from your mistakes and try new next time. As Niels Bohr said,an expert is a person who has made all the mistakes that can be made in a very narrow field.
  • Get out of your comfort zone. That’s where you learn and explore the new, where more resources lies.
  • Life is all we see around us. So carefully pick your map of where you are and where you want to go (7 habits of highly eff. People dan duzelt)
  • 2 most effective super powers: to know when and how to say‘No’ and knowing what to do next
  • Margin of safety
  • Minimum effective dose

Habits:

  • Do at least one important but not urgent task every day. (PRD)
  • Write down 3 things everyday: What you eat, what you exercise and what important thing has happened in your life (social, emotional, sensual, financial) (To reflect what makes you happier and feel more accomplished)
  • Thank god for all you have
  • Set 3 outcomes a day (not to-do s) (PRD)
  • Have a map for your future actions and visit it weekly.
  • Write down 10 ideas everyday

Knowledge:

Stoicism:

Books:

The richest man in Babylon –

Seven habits of highly effective people –

One minute manager

Spin selling

Sales:

Sales pyramid:Product > Advantage > Solution > Benefit > Profit (Based on needs)

Obstacle is the way

    • If it were easy it would have been done already.
  • 4 Happiness chemicals / Epicurus
    • Happiness is a “how” not a “what” H. Hesse
  • Multiple projects lead to multiple successes
  • If you can’t measure it, you can’t improve it.
    • Things get measured gets managed
  • Self one / Self two