Goals

This Hack Will Help You Think Opportunity Costs: Goals and Anti-Goals

March 29, 2021 By Nagesh Belludi Leave a Comment

Goals and Anti-Goals---Opportunity Cost Making decisions is all about opportunity costs. For instance, every time you spend money to get something, you should ask yourself what else, perhaps of better value, you could get with that money—now or later.

The problem is, when forced to choose between something immediate and concrete and something else that’s comparatively abstract and distant, the opportunity cost could lack clarity.

Duke University behavioral economist Dan Ariely proposes the notion of “anti-goals” to help examine the trade-offs you’re forced to make. Ariely encourages pairing goals such that if you satisfy one, you’ll impede the other. For example, when choosing to spend $100 on an evening out today, you can consider a tangible anti-goal—say, saving for the family’s summer vacation—that’ll be held back.

Idea for Impact: Thinking about what you want to avoid—the anti-goal—is a potent tool. It allows you to focus on things that really matter.

This New Year, Forget Resolutions, Set Intentions Instead

January 4, 2021 By Nagesh Belludi Leave a Comment

New Year Intentions, Not Resolutions I think resolutions set you up for failure because they’re usually daunting, and they don’t give you a plan for how to realize what you want to achieve. More to the point, you underestimate how long it’ll take you to kick a bad habit or adopt a good one.

On the other hand, intentions propose paths forward—they can keep you accountable in the process.

Intentions dig into the WHY

Change is hard—change requires real commitment, planning, and follow-through. Intentions help by grounding you to what you can commit to today and tomorrow. Intentions will remind you of the kind of person you want to be and the kind of life you want to live.

Intentions don’t demand perfection, and intentions leave some room for error. Intentions will help you commit yourself and not fill you with guilt and shame if you fall off the wagon for a short period. With intentions, you can anticipate lapses and plan for them.

Setting intentions and then taking action becomes an exciting path of self-discovery rather than a guilt-trap set up with broken resolutions.

Idea for Impact: Set Intentions Instead of Yearly Resolutions

Put less pressure on yourself and set yourself up for success by making regular daily, weekly, and monthly intentions. Once you set the intention, focus on getting to the first step. Then, regroup and think about step two. This way, you target short-term achievable results, and the intention orients you.

Don’t make intentions for the entire year. It’s just hard to keep up with something and stay excited about it year-round.

Plan Tomorrow, Plus Two

December 21, 2020 By Nagesh Belludi Leave a Comment

At the end of each day (or first thing in the morning,) plan tomorrow and the next two days.

Review your commitments and write out the full list of what you want to accomplish over the three days. Outline the first day more thoroughly than the other two.

Plan Tomorrow, Plus Two - Three-day Planning Horizon

This act of writing down what needs to get done helps you feel less anxious—tasks seem smaller on paper than in your head. According to the Zeigarnik Effect, just the simple act of recording a task in a plan relieves the mental stress attributable to unresolved and interrupted tasks.

Having a three-day horizon allows you to be flexible.

You’ll know where your “wiggle room” is, so interruptions don’t invade your day. You can move your priority tasks around should the circumstances change. You can set apart emergencies from non-emergencies that can be addressed later.
When you have a lot on your plate, or something is taking longer than you planned, you can defer what’s avoidable today and move tasks around.

At the end of each day, rewrite your three-day roadmap. Reconsider how each task aligns with the current priorities and spread them over the next three days.

Idea for Impact: Plan tomorrow, plus two. You’ll have a clearer insight of the immediate future—and you’ll be better prepared to attend to those inevitable unforeseen demands for your time.

Putting the WOW in Customer Service // Book Summary of Tony Hsieh’s Delivering Happiness

July 30, 2020 By Nagesh Belludi Leave a Comment

To keep your customers in the present day, you can’t be content just to please them. If you want your business to thrive, you have to produce enthusiastic aficionados—customers who’re so keyed up about how you treat them that they want to tell stories about you. These customers and their cult-like loyalty become a key element of your sales force.

American entrepreneur Tony Hsieh built the online retail store Zappos on the fundamental idea that great service is not a happenstance. It starts when leaders decide what kind of experience they want their customers to have—and articulate that approach in a clear mission and vision. As in the case of luxury hotel chain Ritz-Carlton, leaders keep the mission alive by empowering their employees to go the extra mile for the customer. Above all, when it comes from the heart, great customer service keeps customers coming back over and over.

In Delivering Happiness: A Path to Profits, Passion, and Purpose (2010,) Hsieh discusses the importance of cultivating happiness as a launch pad to better results for your business.

How Zappos Profits from The Happiness Business

Hsieh did not create Zappos. He was one of the startup’s initial investors but got sucked in to help the original founder after six years. Zappos operated in survival mode for a while. As it began to outlive its financial struggles, Hsieh and his leadership team went about building an intentional corporate culture dedicated to employee empowerment and the promise of delivering happiness through a valued workforce and devoted customers.

Over the years, the number one driver of our growth at Zappos has been repeat customers and word of mouth. Our philosophy has been to take most of the money we would have spent on paid advertising and invest it into customer service and the customer experience instead, letting our customers do the marketing for us through word of mouth.

Hsieh tells his entrepreneurial life experiences, often presenting biographical stories to make his line of reasoning. Many great entrepreneurs got started early, and Hsieh is no exception. He started with worm-farming (age 7,) button-making (elementary school,) magic tricks involving dental dams (high school,) burger joint (college,) and web-consulting (post-college) before having considerable financial success with the internet advertising firm LinkExchange (sold in 1998 to Microsoft for $265 million.)

In 2009, Hsieh sold Zappos to Amazon for $847 million under pressure from Sequoia Capital, a major financier of Zappos. As a point of reference, Hsieh later recalled,

Some board members had always viewed our company culture as a pet project—“Tony’s social experiments,” they called it. I disagreed. I believe that getting the culture right is the most important thing a company can do. But the board took the conventional view–namely, that a business should focus on profitability first and then use the profits to do nice things for its employees. The board’s attitude was that my “social experiments” might make for good PR but that they didn’t move the overall business forward. The board wanted me, or whoever was CEO, to spend less time on worrying about employee happiness and more time selling shoes.

How Zappos Fostered a Culture and a Business Model Based on the Notion of Happiness

Delivering Happiness - Tony Hsieh of Zappos Zappos’s corporate culture is guided by ten core values, which aspire to empower employees, create a sense of community in the workplace (employees are encouraged to “create fun and a little weirdness” in the office and build personal connections with colleagues,) and serve a higher purpose beyond bottom-line metrics.

Zappos’s core values include: deliver WOW through service (#1,) be humble (#10,) do more with less (#8,) be passionate and determined (#9,) and create fun and a little weirdness (#3.)
Zappos wants only those employees who really want to work for the company. All new employees attend a four-week training program that immerses them in the company’s strategy, culture, and customer-obsession. Zappos offers $2,000 to walk out at the end of the first week, and the offer stands until the end of the fourth week. Only a small number of new employees take the offer.
Zappos challenges all employees to make at least one improvement every week. Allowing employees to improve the tasks they’re doing and enhancing the processes that they’re responsible for executing allows them to make their jobs more meaningful.
Instead of measuring call center efficiency by the time each call center operator spends on the phone with a customer, Zappos developed its own scorecards. Zappos quantifies such things as the personal and emotional connections operators make with customers using measures such as measuring the number of thank you cards.

Zappos is Obsessed with Impressing Customers

By focusing on company culture, everything else—such as building a brand with sustained revenue growth, fast turnaround times at warehouses, and passionate employees—fell into place.

Happiness is really just about four things: perceived control, perceived progress, connectedness (number and depth of your relationships,) and vision/meaning (being part of something bigger than yourself.)

Recommendation: Read Tony Hsieh’s Delivering Happiness. This insightful tome is brimming with practicable ideas on customer service, building a positive company culture, best hiring practices, how to motivate and train your team, and setting business goals and values. The core elements of Zappos’s DNA—purpose, happiness, culture, and profits—are an effective framework for making happiness a business model.

How to Kick That Bad Habit

April 30, 2020 By Nagesh Belludi Leave a Comment

Rabbi Joseph Telushkin’s The Book of Jewish Values (2011) cites advice from a 12th-century rabbinic text:

Set aside a sum of money that you will give away if you allow yourself to be angered. Be sure that the amount you designate is sufficient to force you to think twice before you lose your temper.

One way to kick a bad habit is to pledge to give money to a cause that you hate should you fail in your goal.

Negative Reinforcement: How to Kick That Bad Habit For instance, entrust a trusted friend (or the website StickK) with $200 and ask her to keep an eye on your goal to eat mindfully and lose weight. If you’re a lifelong Democrat, pledge to have your friend give away your $200 to the “Trump for President 2020” campaign should you fail to meet your predetermined criteria.

Idea for Impact: Try this negative reinforcement technique to inculcate some self-discipline. Make it motivating—designate to give away an amount that hurts or to a cause that you loathe!

Endnote: The text above is an extract from Rabbi Avrohom Chaim Feuer Reishit’s Ramban: A Letter for the Ages (1989,) an anthology of the works of Ramban (c.1194–1270,) fully Moses ben Nahman or Naḥmanides, a Spanish religious leader and rabbi.

What Happens When You Talk About Too Many Goals

February 28, 2020 By Nagesh Belludi Leave a Comment

Matthew Pritchett's cartoon: Labour For the Many Brexit Positions Not the Few

To supplement this illustrious sketch by the British cartoonist Matt Pritchett, an excerpt from HuffPost’s article on “How Jeremy Corbyn Lost The Election,”

One big problem was the sheer size of the [Labour Party] manifesto and the number of policies on offer. Candidates complained that they didn’t have a single five-point pledge card like the one Tony Blair made famous. While the Tories had a simple message of ‘Get Brexit Done,’ Labour lacked a similarly easy ‘doorstep offer.’ “We had so much in the manifesto we almost had too much,” one senior source said. “It felt like none of it was cutting through. You needed to boil it down.”

“We tried to give a retail offer and also a grand vision and ended up falling between the two stools. To get across ‘you’ll be better off with Labour,’ we should have made our position clearer much earlier.”

Idea for Impact: Distill your goals into simple messages that others will find relevant and timely. When it comes to persuasion, clarity and conciseness are critical. Weak messages meander. Smart messages immediately express what’s important and help rally your resources towards your mission.

The Best Leaders Can Make the Complex Simple

February 17, 2020 By Nagesh Belludi Leave a Comment

The New York Times‘s Adam Bryant interviewed 525 CEOs for his Corner Office column and compiled two excellent books, The Corner Office (2012) and Quick and Nimble (2014,) on leadership and management advice. Foremost among the themes common with successful leaders, Bryant says, is “a simple mindset”—the ability to synthesize the simple from the complex and create organizational priorities.

There’s a really important quality [in great CEOs] that I call a “simple mindset,” which is the ability to take a lot of complicated information and really boil it down to the one or two or three things that really matter, and in a simple way, communicate that to people.

In big organizations—frankly, in any company—there are always a dozen or more competing priorities. And it is the leader’s job to stand up in front of the troops and say, “These are the three things that we are going to focus on this year,” or “These are the goals and this is how we are going to measure them.” If you really want to galvanize people and get them operating as a team, you’ve got to create a simple scoreboard that everybody understands.

The communication style, to me, is secondary to getting the content right. And what I’ve been so often impressed by is leaders who can essentially boil down the company’s goals and operating model into, literally, less than a page.

This is a real trick to leadership—creating a simple structure so that everybody in the organization can understand how the work they are doing contributes to the broader goals.

Rob Andrews, CEO of the executive headhunting firm Allen Austin, underscores this “boil the complex into the simple” approach in his leadership manual, High-Performance Human Capital Leadership (2015,)

I have found that when I go into a company to lead, it is important to have a plan and to make that plan a simple one that everybody can understand. I am constantly asking the question,—What are the two or three levers that, if done right, if pulled correctly, will really turn this business? What are the two or three things that really matter? And I find that most leaders do not really do that often.

Idea for Impact: One of the essential attributes of a modern leader is the ability to cut complexity everywhere. Develop the ability to take large, complicated things—and information—and make them very simple.

Great Leaders Focus on the WHY and the WHAT—Not the How

January 30, 2020 By Nagesh Belludi Leave a Comment

Great Leaders Focus on the WHY and the WHAT---Not the How

The most effective leaders provide their employees with a heartfelt portrayal of the WHY, a precise description of the WHAT, and freedom on the HOW.

The WHY encompasses a vision in a way that matters to people. As Howard Schultz, the Starbucks tycoon once said, “People want to be part of something larger than themselves. They want to be part of something they’re really proud of, that they’ll fight for, sacrifice for, that they trust.”

The British-American organizational consultant Simon Sinek’s passable Start with Why: How Great Leaders Inspire Everyone to Take Action (2009; a good summary) identifies the difference between “giving direction and giving directions.” Great leaders, he explains, motivate with the WHY, a deep-rooted purpose, before defining the WHAT, the product or service, or the HOW, the process.

The latter, the HOW, is to be deprioritized—effective leaders leave it to their employees to figure out.

In contrast, ineffective leaders provide specificity around HOW to complete a task but fail to share the big picture, the WHY.

Don’t live in the weeds. Have faith in the ingenuity of your employees. Give much latitude in how they do things.

Idea for Impact: Define the job. Explain the responsibility. Equip your people with the tools and skills they’ll need. Establish expectations. Identify the standards. That’s the essence of delegation.

How Can a Manager Get Important Things Done?

January 13, 2020 By Nagesh Belludi Leave a Comment

Distinguish the Variances That Require a Manager’s Attention

When critical care facilities in hospitals monitor patients’ vital signs, staff nurses are notified only when vital signs go beyond each patient’s pre-programmed range. Unless the monitoring devices sound an alarm, nurses take for granted that the patient’s condition is stable enough and will receive only routine medical attention.

Management by Exception: How Can a Manager Get Important Things Done The “Management by Exception (MBE)” method is the notion that a manager’s attention must be focused only on those areas in absolute need of his/her engagement.

As a rule, lower-level managers should handle recurring decisions. Only problems concerning extraordinary matters should be referred to higher-level managers.

This “exception principle” emphasizes that executives at the upper levels of an organization have serious restrictions on their time, capacity, and willpower. They should refrain from being caught up in minutiae that can be handled just as effectively by their junior managers.

A case in point: many companies establish protocols that designate the level of authorization required for purchases. Companies delegate authority carefully, prescribing spending limits for each level. For instance, a team leader’s approval is necessary for purchases of over $1,000. A department manager must approve purchases of over $5,000, the divisional leader for purchases of over $10,000, and the CEO for purchases over $50,000.

Managers Just Can’t Do Everything

The exception principle helps managers focus their attention on more worthy matters that justify their attention. Most managers hesitate to manage by exception because of the very human predisposition to focus on the immediate, tangible, and well-defined problems as against the distant, high-priority, challenging, and abstract problems.

In other words, mangers must distinguish programmed decisions from non-programmed decisions. Programmed decisions are routine activities that are well-defined and can be dealt with by using an established protocol. Non-programmed decisions are exceptional or significant endeavors that involve unfamiliar, one-time, and unstructured problems needing higher-level decision-making.

Idea for Impact: Don’t Get Lost in the Thicket of Trivia

As a manager, there are only a few things that you must do. Focus on those and delegate the rest. But keep an eye on how things are going; you are still accountable for any work you delegate.

Decentralize as much decision-making as possible. Establish protocols and standard operating procedures (SOPs) that empower your staff and enable your organization virtually to run itself.

Identify what deviations constitute as an exception and intervene only to solve significant problems.

How to Develop a Vision for Year 2020

January 2, 2020 By Nagesh Belludi Leave a Comment

Four Rules for Priority-Setting

As you think about what you want to achieve in the New Year, consider these four rules for priority-setting laid down by the original management guru Peter Drucker in his seminal The Effective Executive (1966; my summary):

Courage rather than analysis dictates the truly important rules for identifying priorities:

Pick the future as against the past;

Focus on opportunity rather than on problems;

Choose your own direction—rather than climb on the bandwagon; and

Aim high, aim for something that will make a difference, rather than for something that is “safe” and easy to do.

How to Develop a Vision for 2020?

Four Rules for Priority-Setting The first thing to do before thinking too far ahead in the future is to identify what success really means to you. Ask yourself, “It’s 31-Dec-2020 and the year 2020 is almost over. I am getting ready to celebrate the turn of the year with a tremendous sense of accomplishment. What have I achieved?”

Visualize a year 2020 wherein everything has turned out the way you’ve wanted. You have given it your best, worked your hardest, and achieved all your goals. Now write down what you imagine.

Take the time to think through and develop a clear picture of where you want yourself and your work- and personal lives to be in three months, six months, and one year.

This exercise is generally effective at helping folks differentiate between tasks that simply feel urgent or top-of-mind from those that are truly important.

Idea for Impact: Getting clear on your vision will help you create a path that feels the most meaningful, stimulating, and fulfilling to you.

Goals

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Intentions dig into the WHY

Idea for Impact: Set Intentions Instead of Yearly Resolutions

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How Zappos Profits from The Happiness Business

How Zappos Fostered a Culture and a Business Model Based on the Notion of Happiness

Zappos is Obsessed with Impressing Customers

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Distinguish the Variances That Require a Manager’s Attention

Managers Just Can’t Do Everything

Idea for Impact: Don’t Get Lost in the Thicket of Trivia

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Four Rules for Priority-Setting

How to Develop a Vision for 2020?

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