Maintaining Passion

The case for delayed gratification

What’s going to be special about 2016? You’ll be taking yourself with you, so it’ll be much the same as last year unless you make it different.

I often fall victim to the massive annual to do list. I clear my desk in late December. Then I create a whole new rod for my back with an impressive forecast of things I am going to achieve in the New Year.

There are two problems with this. One is obvious. The list is so long that I’m already tired by the end of the first month. It clutters my head, making me easily distracted rather than focused.

Click to read more ...

Climbing the wall of worry

Time to get off?

Because I spent over 35 years in financial markets, people often ask me about stock markets. What can I tell you?

Here’s the truth: I have absolutely no idea where markets will end up this year.

I can give you some probabilities. I can name some stocks that might outperform. I could make some fairly reliable dividend forecasts. I can probably identify some stocks that are undervalued, relative to the market.

But I have no idea whether Greece will default. Or if it does, whether another half dozen will follow. I don’t even know what will happen if they do. Maybe stocks will go up on the resultant clarity. Nor do I know if property in China will collapse or land softly. Or if Iran will both produce and explode a nuclear bomb.

Click to read more ...

Power with a friend

Getting more from less

In the last few weeks I created the world’s messiest whiteboard. It’s the New Year thing. What’s the strategy going forward? What do I want to do? What should I do? Everything was on there except focus and clarity. It was time to slash and burn some priorities. Luckily I did this with a friend.

Friends are very useful. They know more about you than you think. In particular, they know where the line is between what you are good at and where you are kidding yourself.

Click to read more ...

The Successful Exit

To take more with you, leave more behind.

When they broadcast emergency procedures as you taxi down the runway, the idea is to show you how to exit in the safest manner. It’s meant to be the most orderly solution. In any given circumstances, the fewest people will get hurt and the optimum number will survive.

A successful business exit is not a lot different. If you put together the right plan and execute it in an orderly manner, you leave all parties in the best possible shape.

Click to read more ...

In 2011, maintain your passion by feeling good later

So what’s going to be so special about 2011?

It'll be much the same as last year unless you make it different.

But how do you do that?

I often fall victim to the massive, annual to do list. I clear my desk in late December. Then I create a whole new rod for my back with an impressive forecast of things I am going to achieve in the New Year.

There are two problems with this:

• One is obvious. The list is so long that I’m already tired by the end of the first month.
• The second is my mind. I keep thinking about the outcome after I’ve finished the planning – rather than just taking the first step and getting on with it.

There is a lot of ego in this.

Click to read more ...