What I have learned from Warren Buffett?

The man is known as the greatest investor and I think we all agree that if you want to learn then you should learn from the best, the whole concept of investment might sound complicated at beginning, but hearing it from him I could give you what I would call the golden rules to a successful investment and I will keep them as simple as possible

  1. Never follow the herd: don’t invest in something just because everyone else is investing in it, don’t let your emotions lead you into the investment, think rationally.
  2. Instead invest in what you know, if you know retail invest in retail if you know hospitality invest there.
  3. Most important if you are choosing shares, stocks or bonds: don’t just base your investment on the performance history of the company instead find out about the company itself the board of executives, read the news and even go meet them if possible.
  4. Last and I think the most basic always diversify your basket of investment, more than one company, maybe different industries and defiantly low, medium and high risk investment

If the above works for him I am sure it will work for all of us. It is not science trust him ;)

Oh Dear Sleep, The Truth

Russell Foster: Why do we sleep?

true power

Knowing others is intelligence; knowing yourself is true wisdom.
Mastering others is strength, mastering yourself is true power.

—Lao Tzu

The Danger of Micro Management

Dear micro managers, yes I am talking to you, and if you really know that you are already one then please try as soon as possible to change yourself. You are ,my dear friend, contributing not only to your lack of growth, you are destroying businesses and killing the ambition in many younger employees.

Now let’s assume you still don’t know you are a micro manager and interested to know. It is easy all what you have to do is to ask yourself the below questions when you are about to deal with your subordinates, keeping in mind I personally discourage the use of such word, or peers.

  1. Are you monitoring and assessing every step of the business process?
  2. Do you have to make all the decisions in behalf of your team?
  3. Are you irritated when a subordinate makes decisions without consulting you? Especially the decisions which are in the level of the subordinate’s authority.
  4. Do you frequently ask for unnecessary and overly detailed reports?
  5. Do you want a detailed performance feedback and to focus excessively on procedural trivia rather than on overall performance, quality and results?
  6. Do you get upset every time you see your subordinate is not on his/her seat?

If the answer is yes to most of the questions above, then you are my friend a micro-manager, the type of manager who is limiting her/his growth, her/his team growth and even wasting your organization resource (money and time). While such management styles could be tolerated in the finance department, as you know you need attention to details there, it is defiantly not in either sales or marketing as your strongest assets is creativity.

As harsh as what I am writing here might sound the reason you are a micro manager is related to the fact you are emotionally insecure, and you have doubts in everyone competency and ability, I don’t think anyone could or should call her/him-self the smartest person in the world. On top of that if you, my friend, trying to convince yourself that you are doing that for business reasons then the truth is you are often doing that to feel useful and valuable and/or to create the appearance of being so.

And if for a while you decided to leave aside all above and think rationally instead you would know that your behavior is

  1. Creating resentment in both “vertical” (manager-subordinate) and “horizontal” (peer-peer) relationships
  2. Damaging the trust in both vertical and horizontal relationships
  3. Is interfering with existing teamwork and inhibition of future teamwork again both horizontal and vertical.

I will conclude with an advice now I don’t want to claim that I own all the wisdom in the world but micro management is defiantly standing in your way. Ask yourself a simple question if you had at team of 7 instead of 2 people or 20 instead of 7 would you be able to micro-manage all of them? if you want to be the CEO even of a small organization you will have I guess at least 10, I don’t really know what you are think right now in any way I offer you below few tips that might help you change your behavior if you wanted to

  1. Enable your team to make decisions especially the ones in their level of authority.
  2. Make it clear to yourself that all what matters are results, so sit clear results and expectations then enable your team to follow through, control the urge to look at every small detail to anything they do.
  3. Look at the bigger picture if it looks beautiful no matter who actually did the small details in it, you my friend, is who actually made it happen.

Good luck!

Coco

Either I die as well, or I finish what we started together.

I know that I need to know

To be conscious that you are ignorant of the facts is a great step to knowledge.

- Benjamin Disraeli

How high we are?

We never know how high we are
Till we are called to rise;
And then, if we are true to plan,
Our statures touch the skies—

The Heroism we recite
Would be a daily thing,
Did not ourselves the Cubits warp
For fear to be a King—

by Emily Dickinson

Five Myths about Leadership

1) The Management Myth – that leading and managing are the same. Leadership is about influencing people to follow, while management focuses on maintaining systems and processes. Managers can maintain direction; to move people you need influence.

2) The Entrepreneur Myth – entrepreneurs are skilled at seeing opportunities and going after them. But not all of them are good with leading people in their vision.

3) The Knowledge Myth – neither IQ nor education necessarily equates to leadership.

4) The Pioneer Myth – being a trendsetter is not the same as being a leader. To be a leader, a person has to not only be out in front, but also has to have people following his lead.

5) The Position Myth – leadership is not based on rank or title. It’s not the position that makes the leader; it’s the leader that makes the position.

From the movie “Primal Fear”

Marty: On my first day of law school, my professor says two things. First was; “From this day forward, when your mother tells you she loves you – get a second opinion.”
Jack Connerman: [chuckles] And?
Marty: “If you want justice, go to a whorehouse. If you wanna get fucked, go to court.”

Freedom Could Kill You!

The Happiness Hypothesis: Finding Modern Truth in Ancient Wisdom (Jonathan Haidt)- Highlight on Page 132

In the late nineteenth century, one of the founders of sociology, Emile Durkheim, performed a scholarly miracle. He gathered data from across Europe to study the factors that affect the suicide rate. His findings can be summarized in one word: constraints. No matter how he parsed the data, people who had fewer social constraints, bonds, and obligations were more likely to kill themselves. Durkheim looked at the “degree of integration of religious society” and found that Protestants, who lived the least demanding religious lives at the time, had higher suicide rates than did Catholics; Jews, with the densest network of social and religious obligations, had the lowest. He examined the “degree of integration of domestic society”—the family—and found the same thing: People living alone were most likely to kill themselves; married people, less; married people with children, still less. Durkheim concluded that people need obligations and constraints to provide structure and meaning to their lives: “The more weakened the groups to which [a man] belongs, the less he depends on them, the more he consequently depends only on himself and recognizes no other rules of conduct than what are founded on his private interests.”
A hundred years of further studies have confirmed Durkheim’s diagnosis. If you want to predict how happy someone is, or how long she will live (and if you are not allowed to ask about her genes or personality), you should find out about her social relationships. Having strong social relationships strengthens the immune system, extends life (more than does quitting smoking), speeds recovery from surgery, and reduces the risks of depression and anxiety disorders. It’s not just that extroverts are naturally happier and healthier; when introverts are forced to be more outgoing, they usually enjoy it and find that it boosts their mood. Even people who think they don’t want a lot of social contact still benefit from it. And it’s not just that “we all need somebody to lean on”; recent work on giving support shows that caring for others is often more beneficial than is receiving help. We need to interact and intertwine with others; we need the give and the take; we need to belong. An ideology of extreme personal freedom can be dangerous because it encourages people to leave homes, jobs, cities, and marriages in search of personal and professional fulfillment, thereby breaking the relationships that were probably their best hope for such fulfillment.
Seneca was right: “No one can live happily who has regard to himself alone and transforms everything into a question of his own utility.” John Donne was right: No man, woman, or child is an island. Aristophanes was right: We need others to complete us. We are an ultrasocial species, full of emotions finely tuned for loving, befriending, helping, sharing, and otherwise intertwining our lives with others. Attachments and relationships can bring us pain: As a character in Jean-Paul Sartre’s play No Exit said, “Hell is other people.” But so is heaven.