Wilson Ng: BizdrivenLife On Business

Fri, 20 Jan 2006 11:18:26 GMT

Being busy without prioritizing

I debated with myself whether this goes under the heading of business, or whether it should be in life, but finally decided that being able to prioritize was not only something that you need to be effective in business, but also in living life.

I tried to observe some of my colleagues and friends, and I think one of the things I observe is how many of us fail to prioritize.

Many people just simply list down the things or task that they need to do, and often (more…)

Fri, 20 Jan 2006 11:16:40 GMT

The Expectation of being Misunderstood

Filed under: on Business

Proper communication is an issue in many developing countries, and a malady in many developed ones. And it is not something that is strongly caused or correlated to education, literacy or technology at all. In fact, two highly educated people from two different cultures or backgrounds ( or same ones) can have the illusion of agreement and communication when in fact, they may be grossly misunderstanding each other using the same terminology of which they have different interpretations. Are we visualizing the same thing when we say dog? Are you thinking of a doberman, while I am thinking of a chihuahua?

As I laughingly say, if after 12 years, (more…)

Fri, 20 Jan 2006 11:11:26 GMT

Business Trends for Asia Pacific 2006

I was asked by Small Business Trends, a leading site for entrepreneurs and small businesses, and a 2005 awardee from BusinessWeek’s Best of the Blog for Business to write my thoughts about what is in store for the Asia Pacific economies for 2006. My write up is found here.

Fri, 13 Jan 2006 22:22:51 GMT

Gates Most Admired Business Leader

A new global study conducted by Burson-Marsteller with the Economist Intelligence Unit (EIU) names Bill Gates, Microsoft’s chairman and chief software architect, the world’s most admired business leader. The 2005 CEO Capital™ study asked more than 600 global business influentials in 65 countries to write in which CEO or chairman they admire most in the business world today. Complete story here….

Fri, 13 Jan 2006 22:22:12 GMT

Great Business and Tech Links

Here are some links you might be interested to read:

- Is it better to franchise or to go solo?

- The best and worst of Technology for 2005

- Web sites that allows users to send email to the future.

- China now world’s fourth largest economy, if including service adjustments and Hong Kong. Only behind United States, Japan and Germany.

Fri, 13 Jan 2006 22:21:27 GMT

Lessons In Leadership

Fortune Magazine in its Dec 12, 2005 edition have an interesting report on Lessons in Leadership, which asked some questions from seven respected CEOs about leadership. Here are some of the highlights and quotes:

There is a heirarchy of commitments. On the highend, you have disciples — people who really believe in what you’re doing (more…)

The Greatest Management Secret in the World

Sometimes, you have a once in a bluemoon chance to try to push your viewpoint. Last December 15 was my 40th birthday, and I took the opportunity of their goodwill to send a note to my colleagues in the business about certain management principles I wish they would remember…. Here’s the note, and I look forward to your opinion.

————–

Thanks for all your greetings. I am feeling old,,, and feeling a little bit like an old sage who would now rather talk than run, I am going to share with you freely an advice that I think has been invaluable to my personal and business success. Just take it as my birthday gift to you….

20 years ago, as I was nearing graduation of college, I bought a book entitled the greatest management secret (more…)

Fri, 13 Jan 2006 22:18:45 GMT

The Peter Drucker Legacy of Gems

I have been reviewing some materials on the legacy ofPeter Drucker. I’d like to cite some of his ideas, and writings:

1. Understanding what your Business is all about.

- Ask yourself always, ” Who is our customer, and what does he consider value?”
- ” There is no business without a customer!”

2. Questions Drucker posed to Jack Welch shortly after he became CEO.

- “If you weren’t already in a business, would you enter it today?”
- ” And if the answer is no, what are you going to do about it?”

3. When asked where he got his insights. (more…)

Fri, 13 Jan 2006 22:17:54 GMT

Understanding what comes First

As managers, it is our duty to see that people are happy and productive. Many managers feel the obligation that their focus is to make their people happy with the fallacy that happy people are productive.

That was one of the things that after so many years I found out not true. People are happy because (more…)

Fri, 13 Jan 2006 22:16:28 GMT

Two Precepts I Learned in Managing

This year, I have put some thoughts on the way my business is going, and I have learned two important precepts that I plan to implement next year. Business is good, but if we take time to continue to make it healthier , it does allow the business a better way to capitalize on opportunities when they present itself.

These precepts and principles are known to me as it is to most businessmen, but the effectiveness (more…)

Fri, 13 Jan 2006 22:13:33 GMT

How much you are being Paid

I meet again somebody who thinks he would have been willing to work a little bit harder and do a better job if he only was paid ‘right’.

I think it is no secret that the vast majority of us feel we are underpaid, while a small minority would feel we are paid ‘just right’. An even more miniscule amount of people, which is almost a rarity, will honestly say they are overpaid.

It is precisely when you feel that you are underpaid that (more…)

Fri, 13 Jan 2006 22:09:59 GMT

Who is the More Valuable Employee?

I was reading this story to my kid, when it occured to me that sometimes values may differ, and sometimes, we have to look into things twice to make sure that we are teaching the right lessons. What do you think?
—–
There was once a king who wanted to choose a successor among his two sons. So he called them forward, and told them.

“I am getting old. I am giving each of you a flower pot, and a flower (more…)

Fri, 13 Jan 2006 22:07:43 GMT

Business Blogs to be Big

Shel Israel, co-author of Robert Scoble, of the business blog book Naked Conversations, predicts that by 2006, the number of bloggers worldwide will exceed 150 million.

The areas of greatest growth in new blogs with large followings will be business and elected political officials. These two areas will eclipse, or nearly eclipse, the top category of technologists talking about technology. This will also make both businesses and politicians a tad more responsive to their constituencies, he believes.

The Right Direction

Fri, 13 Jan 2006 22:03:43 GMT

During China’s Warring States Period, there was a person who reside in the state of Wei who wanted to go to Chu. Chu was located to the south of Wei, yet he asked the driver to start the carriage going north.

His friend stopped him and asked, “where are you going?”

He replied, ” I’m going to Chu State.”

His friend hastily reminded, “Hey, Chu is going to the South!”

He replied, ” It does not matter. (more…)

Successful Person Successful Businessman

Mon, 28 Nov 2005 22:14:10 GMT

I was one of four speaker on a business guidance session for high school students, and one of the students asked, probably somewhat vaguely, ” What do I need to do to become successful? ”

I will always remember the answer that the other speaker, a noted businessman gave. He said, ” I think the first thing you need to clarify is do you want to be a successful person, or to be a successful businessman. Because from my experience, the formula for each is VERY different.”

” There are many businessmen who are probably envied (more…)

Critical of Benchmarks

Mon, 28 Nov 2005 22:12:31 GMT

I have a friend who feels he has been had. He bought a notebook which advertised 6 hours of battery life, and he was getting only half of that on average.

We normally have to make decisions primarily on what technology or products to purchase and use. And we are increasingly reliant on benchmarks to make such calls. These kind of statistics are produced under ‘certain’ conditions, and it is (more…)

The Clueless Messenger

Mon, 28 Nov 2005 22:12:12 GMT

We all have a role to play in a business. I have always believe that the person who not only does his job well, but understands well the role he plays, and why he is playing it will go further than the person who merely ‘does’ his job and does not care much of anything else. IN the businessworld, there are people who go through the ropes to do their job ( as instructed), but is clueless to anything else, and probably does not care. Sometimes, obeying the letter of instruction, and probably misunderstanding anything else can not only be detrimental, but can also be hilarious. Here is an extreme story to illustrate;

A few hundred years ago, a prison guard was asked to escort a convict to (more…)

Teaching the Basics of Money

Mon, 28 Nov 2005 22:08:57 GMT

I believe that other than teaching your kids typing, and the love of reading, the other important skill you want to insure is the basics of money. Here are some I would teach my own.

A DOLLAR SAVED IS A DOLLAR EARNED. I believe it is important to teach children frugality, and knowing to save money. I don’t believe we should be giving our children pocket money just (more…)

Your Most Important Job

Mon, 28 Nov 2005 22:07:05 GMT

This is a business or technology blog, but if people will ask me now what is my most important business at hand, I would say that it is to teach your children well. The same way I answered before that the most important job of a CEO is not to grow the company, I guess I am more cognizant of long term thinking than when I started.

If many of us profess that we are engaging in business that we will ultimately hand over to our children, or that we are doing all these for the sake of our children, it is wise that this early, you make sure that your kids are equipped to handle life and the business when the time comes. Time should be devoted, and resources and planning (more…)

Driving and Managing for Optimum Miles

Sun, 06 Nov 2005 23:44:20 GMT

The latest car I have been driving have a cool feature which allows you to immediately get the mileage of the car depending on how you are driving. It is almost instantaneous, so it is really an feedback mechanism which allows you to know how to optimize your driving habits for maximum fuel efficiency.

This is a great tool as for instance, you will notice immediately that if you try to accelerate faster, you would be getting less mileage than if you accelerate gradually.

I noticed that the way I drive is wasting fuel because I normally accelerate (more…)

Letting Somebody do you a Favor

Sun, 06 Nov 2005 23:42:42 GMT

One of the most intriguing insights that I got ( yes, I still remember it after 20 years) from the Autobiobraphy of Ben Franklin was how he was able to make friends, not by doing a favor to the person, but by letting the person do a favor FOR him.

Apparently, he discovered that for some people, “he that has once done you a kindness will be more ready to do you another, than whom you yourself have obliged”.

This was quoted by Seth Godin, another original thinker whose many ideas seem to be uncommon common sense, when he tried to explain how Yale wins by using this principle.

Leadership Lessons for Small Business CEOs

Sun, 06 Nov 2005 23:39:44 GMT

An excellent post from Six Disciplines blog is Leadership Lessons for Small Business CEOs.

In here is summarized the checklist of Jeff Immelt which is one of those taught in GE’s famed management development center. It is always great to read from people who have been there, and done it. If they have gone through it and talk about it, the advice sounds more practical, unlike some book writers who spawn management theories but who have never managed a corporation, whose advise might sound good, and yet may sound too idealistic, and seemingly done with no firm feet on the ground.

Among the ten things, I particularly identify with these:

2. Simplify Constantly. “Every leader needs to clearly explain the top three things the organization is working on. If you can’t, then you’re not leading well.”

3. Understand Breadth, Depth and Context: “The most important thing I’ve learned since becoming CEO is context. It’s how your company fits in with the world and how you respond to it.”

4. The Importance of Alignment and Time Management: “At the end of every week, you have to spend your time around the things that are really important: setting priorities, measuring outcomes and rewarding them.”

5. Leaders Learn Constantly and Teach: “A leader’s primary role is to teach. People who work with you don’t have to agree with you, but they have to feel you’re willing to share what you’ve learned.”

6. Stay True to Your Own Style: “Leadership is an intense journey into yourself. You can use your own style to get anything done. It’s about being self-aware. Every morning, I look in the mirror and say, ‘I could have done three things better yesterday.”’

You can also read all 10 in Jeff’s interview with Fast Company.

Knowing It and Really Doing It

Sun, 06 Nov 2005 23:35:56 GMT

A few months ago, I wrote an article, Its Just Focus. in which I basically noted that for 2 weeks early this year, my only focus was to lose weight, and I did it. Well, sometimes, it is easier said than done and knowing it sometimes does not always mean doing it . Which is sometimes I don’t have a very good opinion of people who read self improvement books or go to management seminars, and when presented with (more…)

Execution is Key

Sun, 06 Nov 2005 23:31:54 GMT

I just came back from a meeting with one of our principals. Our company has been partnering with theirs for almost 10 years, and they recently had a new director in charge of our business segment. And the reviews for the last quarter has not only been great, but nothing short of spectacular.

He basically was able to almost double their business with us ( and with most of the resellers) last quarter compared to same period last year. That, in an industry that at best estimates, grew by less than 20 percent. (more…)

Necessity Never Made a Good Bargain

Sun, 06 Nov 2005 23:31:30 GMT

I was talking to a business friend who have been incredibly successful. He bought some real estate pieces, and was able to sell it ( or flip it ) shall we say within a few weeks for a huge windfall. Out of the blue, he was offered a car that was in the waiting list of many, and he got it, and within a few days resold it at some margins at practically no effort.

It was not the speed that he could make transactions, but rather the margins he was able to command that impresses me. (more…)

Deserving Success vs Achieving Success

Sun, 06 Nov 2005 23:29:10 GMT

I was just talking to another person whom I feel after hearing his woes have led me to an unfortunate conclusion — no, life has not been unfair to him. No, it is not that life has not given him a break. It is sometimes difficult to say it, but yes, life has given him more than his share of opportunities — it was just that he did not the ability or focus to capitalize on it.

More, and more, I start to believe that success in the 21st century, is really about simply building a better mousetrap. I remember that over 20 years ago,in our marketing class, one of the most derided quotations was that of Ralph Waldo Emerson’s (more…)