Here is your Seven-Bullet Monday
1. A quote I am pondering:
“Rich people have small TVs and big libraries, and poor people have small libraries and big TVs.” ― Zig Ziglar
With this quote, Zig Ziglar encourages us to harness the power of knowledge over entertainment by building personal libraries of knowledge and wisdom that dwarf our flat-screen TVs. And for that matter, our smartphones time too. The average North American spends 50 to 60 hours a week watching TV or looking at their phones. What if we could exchange even a quarter or more of that time for education and self-development? How much better would our lives and society, as a whole, be?
2. A question I am asking myself:
How do I precisely define the problems in my life?
Someone once said, “Most problems precisely defined are already partially solved.” When facing problems, I tend to rush to the first solution or answer because that is less mentally taxing. If I can instead spend some time properly defining the problem, I will undoubtedly develop a better solution.
3. A book I am reading:
The Infinite Game – Simon Sinek
The Infinite Game is Simon Sinek’s fourth book since writing his best-seller, Start with the Why. In the book, he proposes a business model that prioritizes the long term while remaining flexible over the short term. I appreciated his examples of the futility of short-termism that has damaged so many public American businesses. I also learnt how executive leaders, who understand the infinite game, must be willing to ride short-term criticism to ensure the long-term gains that might take decades to realize but will be well worth it in the end.
4. What I learnt this week
How new Satellite methane cameras work
By the end of this year, two dozen high-resolution satellites will be in orbit, tracking invisible methane plumes around the world. The satellites track methane emissions by analyzing how sunlight reflects off the Earth and how its infrared element weakens when it passes through clouds of methane gas. These satellites will help provide new climate transparency and increase pressure on the worst global emitters. For example, one fossil fuel site in Turkmenistan was recently recorded pumping methane into the atmosphere, which amounts to more global warming than the entire UK. By tackling the worst methane polluters, the world can improve progress on slowing global warming.
5. The highlight of my week
Getting our townhouse garden summer ready
After having no garden to tend for the last two years, our little townhouse garden is proving very exciting with the warm weather here. Gardening is right up there with the most relaxing and cathartic things to do when you have a little time. As for our garden, the herbs are planted, the flower planters are primed, the green grass is getting some appreciation, and the weeds know their time is up 😊.
Make sure you have DRIPs (dividend reinvestment plans) in place for your equity investments
DRIPs are a great way to ensure you achieve compounding returns on the stock exchange by reinvesting your dividends in the same stocks. Stock market returns mostly come from a combination of share price growth and dividends. For simplicity, let’s assume the share price has risen on average 7% a year, and dividends paid have averaged 3% of the share price. Together this makes up the 10%, but to get the compounding benefit of the 10%, you should use the dividends to buy more shares in the company.
You can usually sign up for a DRIP by clicking on a drop-down menu next to your investment in your online investing account. When you activate the DRIP, the cash dividends you receive are reinvested to purchase more stock, so your investment in that company continues to grow little by little. That way, you ensure you always put your cash to work as soon as you receive it as dividends.
7. My challenge for you for this week
Improve your managing-up skills by focusing on what your manager wants and how they like to be communicated with
Managers appreciate team members who spend time focusing and delivering on what the manager considers essential. That leads to better alignment, more focused work outputs and career advancement. Knowing how best to communicate with your manager helps mutual understanding, collaboration, and job satisfaction. My short-note advice is, “Make your boss look good”. And, if you are the boss and don’t report to anyone, then think about your team members and how you can help them give their best by clearly communicating your priorities and communication standards.
Have a wonderful week.