Seven-Bullet Monday - April 17, 2023
Here is your Seven-Bullet Monday
1. A quote I am pondering:
"Are you green and growing or ripe and rotting?" ― Ray Kroc
From the man who launched McDonald's, comes the challenge to embrace change and adapt to a fast-evolving world. What knowledge and skills do we need to acquire to stay relevant and competitive, and how do we remain open to new experiences in our personal and professional lives?
2. A question I am asking myself:
How do I create more value with greater efficiency
The more sharply I can establish and focus on the top 20% of my deliverables, per the 80/20 rule, the more effective I can be in my business and personal life. It's then how I can deliver these most efficiently through sharp focus and reduce time on other 80%, through automation and delegation.
3. A book I am reading:
Discipline is Destiny: The Power of Self-Control
From one of my favourite authors comes this new book, which outlines 25 disciplines we need to deploy to reach our destiny. These disciplines are all the more critical when considering the world of immediacy, temptation and excess that surrounds us daily. The book contains engaging examples that drive home the rewards of embracing, and the risks of neglecting, each of the 25 disciplines.
4. What I learnt this week
That I need to rebalance my investment portfolio using the asset allocation method
Every three months or so, I look at how my investments are performing relative to the market and each other. I also look at how my investments are weighted compared to my ideal asset allocation, i.e., my splits between investment types and geographies (e.g., shares, commodities, country exposures, property, bonds and crypto).
Asset allocation is the foundational layer for investing, and many starter investors ill-advisedly overlook it. They want to buy stocks and buy them quickly, and they don't give nearly enough thought to their mix of investments. Skip the asset allocation piece and dive into investing, and you might land up with the Leaning Tower of Pisa! Get asset allocation right, and you will build your investments in a structured and balanced way, which will likely stand the test of time. As for me, I am overweight in US stocks and have started reallocating some of that to other sectors.
5. The highlight of my week
Seeing some well-deserved promotions within our Company
There were some well-deserved promotions in our business last week, including Brandon from my team. One of our mantras is to promote from within when we can because this serves many purposes, including creating opportunities for team members to develop beyond their immediate responsibilities. It is great to identify and reward local, hard-working, dedicated individuals and elevate them within the Company so they can continue growing and taking on additional challenges.
Do we need radical candour in our workplace?
Promoting radical candour in our workplace might feel both enticing and dangerous. It does promote a healthy business environment by encouraging open and honest communication, which in turn means issues can be identified and resolved more efficiently. It can be dangerous when done callously and without care. It can be valuable if it focuses on constructive feedback and is done from a place of caring. So, if we want to be saved by constructive criticism rather than ruined by praise, let's start asking for some radical candour to come our way.
7. My challenge for you for this week
Try to go to sleep and wake up at the same time every day, including weekends 😊
Going to sleep and waking up at consistent times every day has many benefits. These include better sleep quality from a regulated circadian rhythm, consistent morning routines to help you manage your days more effectively, higher natural energy, better mental health, and lower stress levels. Those weekend lie-ins may feel nice, but getting up early and getting more out of those morning hours will feel way better.
Have an awesome week