Paul  (@pau556) - Profile Photo

Paul

@pau556

382 READS

Sometimes, all you need to do is look at things from a different perspective.

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Stashing since

Nov 11, 2020

25 Published

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105 Stashed Ideas

Long-term thinking

Long-term thinking is more challenging than most people imagine. It is then also more lucrative than many people think.

The long run consists of a collection of short runs that you have to put up with: recessions, bear markets, meltdowns and surprises. Instead of assuming long-term thinkers don't have to deal with nonsense, the question is how you can endure all the short uphills.

Paul  (@pau556) - Profile Photo

@pau556

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Problem Solving

Many companies use the insights of financial managers and external consultants to manage their risk. A one-size-fits-all solution is not yet in existence when it comes to risk management.

These companies usually use derivatives like forwards, options, swaps and futures to offset their risk, but without a clear set of risk-management goals, the use of derivatives can increase the risk substantially.

Our emotions are obsessed with the present moment because it’s difficult to look past our immediate fears and anxieties. And this prevents good decision-making.

The sweet spot in decision-making is to find the short-term failures that enable huge long-term successes to happen in the first place.

The importance of focusing on the similarities

When we look at situations, we prefer to look for what is distinct. Instead, we should pay attention to the similarities.

The four words "this time is different" makes us incorrectly think that differences are more valuable than similarities. When your reasoning and plans are based on the differences, you are probably speculating.

Take time out to rest

Sleeping 8 hours a day and taking a time-out to rest is crucial.

Give yourself time to recuperate, in order to perform better at any task, and to recall better what you have studied.

The triple constraint factor

The triple constraint theory tells us that every project operates within the boundaries set by three constraints:

  1. Time (the deadlines)
  2. Scope ( the features)
  3. Cost (the budget)

These constraints are inter-connected. If you change something about one of them, the other two will be impacted as well. A manager has to find the best combination of these three constraints.

A personal touch is a nice trick to create an impactful conclusion.

The readers will identify and would feel a connection with the personal story humanizing the subject at hand.

Fuel growth while managing uncertainty
  • Prepare for multiple outcomes that are within your control.
  • Refine your business plan. Adjust your strategies to your business’s current situation so you can update your value proposition.
  • Recognize opportunity to grow. 
  • Get quality control in order. Define what "high-quality" means in terms of your company and its offerings. .
  • Have a firm grasp of key financial numbers and other KPIs so you can make the appropriate changes quickly.
  • Diversify your products and services. 
  • Evaluate how you and your team spend your time. It helps you to stay focused on the tasks that can actually grow your business.
George Orwell
“If thought corrupts language, language can also corrupt thought.”
Temporal discounting

We tend to pay attention to the present at the expense of the future. Our present self will eat an extra piece of cake, or skip a training session, or procrastinate and leave our future self to deal with the consequences. This is known as temporal discounting.

While in-the-moment decisions don't feel like a big deal, they add up over time.

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