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Seven-Bullet Monday - May 29, 2023

Here is your Seven-Bullet Monday

1. A quote I am pondering:

"You must be the change you wish to see in the world." - Mahatma Gandhi

There are lots of things that we want to be different in our lives. I like how this quote emphasizes our part in bringing about that change instead of just wishing it would happen or complaining about it not happening. Yes, we can't change everything, but like in the Serenity Prayer, we must ask for the "courage to change things we can".

2. A question I am asking myself:

Why do I let myself get so irritated in traffic?

I have given myself too many passes for commenting on or cussing other road users while driving. Dale Carnegie's quote, "You can measure the size of a person by what makes him or her angry, " has convinced me to do better, much better!

3. A book I am reading:

Quiet: The Power of Introverts in a World That Can't Stop Talking – Mary Cain

In this excellent book, Mary Cain emphasizes the importance of considering and valuing introverts in a world that favours and rewards extroverted qualities. Introverts have many unique strengths, like persistence, concentration, introspection, and empathy, but noisy extroverts often drown these out. I liked how she provided many examples where businesses, teams, parents, and partners can create environments that allow introverts to excel and shine as they should.

4. What I learnt this week

How to more effectively use AI in my work

I am only dabbling with ChatGBT and Midjourney, but I am already saving time in tasks such as information compilation, idea generation, broad scanning and distilling communication. And, Midjourney is starting to touch on creating pictorial explanations that I can see in my mind's eye but have struggled to get into a format that others can see.

5. The highlight of my week

Playing in the Alzheimer Society's "Forget Me Not Golf Tournament"

The tournament is held annually in May to raise funds for research and dementia education and support. Over the last 20 years, nearly $14 million has been raised through these tournaments. The weather was perfect, the company excellent, and I got two birdies scattered among many bad holes. Despite four mediocre rounds, our team somehow came second out of some 70 teams. That only shows that rusty Spring golf was on show all around the 36-hole course.

6. Hugh-tips

Look for resilient businesses that can survive economic downturns and recession

Warren Buffet once said, "You don't find out who's been swimming naked until the tide goes out." This quote goes for investors and businesses. Downturns and recessions are the economies' way of cleaning out weak and dodgy companies and leaving the strong and deserved businesses to live for another day. There are also times when you must carefully look at your investments, particularly the more speculative ones.

With this in mind, consider the resiliency of the businesses you invest in. Will their products or services still be sought after and paid for at full price (price inelasticity) when people and companies have less purchasing power? Where are they most vulnerable to an economic downturn? How strong is their balance sheet, particularly the cash-to-debt ratio and current ratio (current assets divided by current liabilities)?

7. My challenge for you for this week

Commit one day to a Spring clean-out and de-junking some of your home

Leanne and I cleaned out our garage last weekend. It took most of the day, but once the 1-800-GOT-JUNK truck left, and we could easily move around the garage, what a thrill it was. No more climbing around boxes and containers; I even got my bike out for a ride this weekend (an erstwhile arduous extraction from the garage corner).

Uncluttering your home (or garage 😊) can give you a lot of benefits, including less stress, peace, tranquillity and clarity of thinking. If you are unsure what to keep and get rid of, I encourage you to read or listen to Marie Kondo's lovely little book, "The Life-Changing Magic of Tidying Up".

Have a productive week.

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