Time Tips

Time Killers

Time killers are things, processes, people or anything that diverts our attention to activities that are unnecessary and without benefit. Time Killers harm our effectiveness as entrepreneurs. I believe these tips may be credited to Stewart Levine and his book Cut to the Chase, but I was unable to verify the references. Nevertheless, they are excellent tips and worthy of repetition.

Tip 1 – I GOT IT

As soon as you understand exactly what someone is explaining, indicate in one way or another, “I got it.” Doing so frees them to move on and cover more ground. Similarly, if someone else says “I got it” to you when you’re explaining a point, stop.

If you’re not sure if someone got your point, listen carefully to the person’s responses. If it’s clear there’s still a misunderstanding, say “I’m not sure we’re on the same page. Let’s make sure we understand each other.”

Tip 2

YOU”RE KILLING ME

What happens if you have said, “I got it” to the person and they keep right on talking? You feel trapped. You know the clock is ticking. This is the third time you have heard the story. Everyone in the room is already in violent agreement. Instead of getting angry or giving up, look at the other person, laugh, and say, “You’re killing me. I’ve got the point. Let’s move on.”

By being both direct and funny about it, you do two things: (1) you break the tension that everyone probably feels; and (2) by keeping things light, you move the conversation forward without offending. Odds are that the speaker is so wrapped up in the point being made that he or she has stopped observing what was going on around them. You’re offering him or her, a graceful way out and helping to keep things moving.

If you’re not comfortable saying, “You’re killing me,” try “Time out.”

Tip 3

CLOSE THE LOOP

Have you ever had a test at your physician’s office, and the nurse said, “We’ll call you if there’s a problem”? Two weeks later—and still no call. You begin to wonder, “What if they lost the test? How can I be sure everything’s okay?”

When people don’t close the loop, they leave the other person hanging. Not only is it distracting, it can subtly erode the relationship.

Anyone can follow up. It’s a simple matter of being conscientious and disciplined.

When a colleague introduces you to a new contact, tell your colleague when you’ve reached out to the new person. After you’ve connected, tell your colleague how it went.

Respond to invitations and meeting requests promptly. It’s a lot easier for others to plan an event when they know who’s coming.

When you receive details or specifics, acknowledge them. When you receive a question by phone or e-mail, answer it or forward it to the person who can.

Acknowledge your action with the person who raised the question. A simple e-mail reply saying, “Got your message, see you there” will eliminate any confusion or uncertainty over whether you received the e-mail and were able to attend the event.

Never let yourself be known as someone who leaves other people hanging. Once that label gets applied, it’s hard to shake. On the other hand, when you consistently close the loop, you build a reputation as a dependable professional.

Tip 3

Never let your iPhone become iCrack

We’ve become obsessed with staying connected at all times. If not used wisely, these tools, instead of helping us cut to the chase, can usher in a relentless stream of interruptions in our professional and personal lives.

Do you ever find yourself irritated at a fellow commuter who talks nonstop on his cell phone, sharing private and privileged information, while you are attempting to catch up on industry reading? Have you ever been tempted to strangle someone at a meeting who checks his email while others are speaking or presenting?

These productivity tools should serve us, not the other way around. Turn them off when you’re in meetings or working on something that involves others or requires concentration.

You can check in and respond to e-mails when the meeting or work session is over.

Set an after-hours limit as well—one that works for you, your family, and friends.

Tip 4

Tell them the Baby is Ugly

When I asked a colleague to review my initial outline for an article, he agreed under one condition: “I need to know that I can tell you if the baby is ugly.” I told him that not only did I agree, I was counting on him to constructively challenge my thinking.

When someone has a new idea, he or she often loses objectivity. After all, the idea reflects on his or her creativity and quality of thinking. It’s hard to tell someone that you don’t like an idea. But it’s a lot easier to have that discussion before you launch a new product or service than after your company spends countless hours and dollars to develop it. In fact, the sooner you point out that the baby is ugly, the less time everyone wastes developing a flawed idea. A smart innovator counts on your honest feedback. That’s why he or she is asking for it.

An easy way to provide constructive feedback is to give or ask for: three things you like about the idea, three ways to improve the concept and if you dare three things not liked about the idea. This last question is difficult as many humans are programed to be polite and the politeness barrier is a difficult one to crack.

Tip 5

Know your weaknesses, but play to your strengths.

Most people focus on their weaknesses and try to improve them. But the most successful executives realize that this is a waste of time. Everyone has strengths and weaknesses, whether they are a CEO or a management trainee. While it’s important to be aware of your weaknesses, devoting time and energy to strengthening them will give you only limited gains.

You’ll become much more effective by building on the things you already do well.

Tip 6

Life is a negotiation

If you’re breathing, you’re negotiating. Every day you’re trading “this for that”—whether requesting a better compensation package from your employer, negotiating a deal with a client or vendor, or deciding where to dine that evening with your spouse. Make every negotiation a little easier by limiting your wish list to the two or three things that matter most.

Unless you’re negotiating a multiyear contract or a peace treaty, don’t bring a long laundry list to the table. You’re bound to lose something important if you do. Negotiation takes time. Invest it wisely in the important work—knowing exactly what you want, listening to what the other party needs

Tip 7

On it. Pending. Done

Develop a shorthand with your close colleagues. You’re all busy, so give each other permission to dispense with the niceties. On it, pending and done is one I like to use. Another CEO, when he wants someone to move on, e-mails or says “PAC.” It stands for “Point accepted. Continue.” His team knows it’s nothing personal.

Tip 8

Good Enough is the Enemy of Perfect

There’s nothing wrong with wanting to do your best. But striving for perfection when “good enough is good enough” is a waste of time. Don’t let unhealthy perfectionism keep you from cutting to the chase. Know when to let things go.

Tip 9

Take back the Weekend

It’s 4:30 on Friday afternoon. You’re ready to go home. After putting out fires all week, you’re the one who’s burned out. But you’ve got a pocketful of business cards, a pile of receipts to sort through, and at least three people waiting to hear back on something. You decide to go home anyway and “catch up” over the weekend.

Stop!

Unlike on weeknights—when your goal is to clean up quickly and respond to anything time sensitive— Friday afternoons are the time to close every open loop and catch up on those easy-to-put-off tasks that clutter your desk and mind.

Before you leave the office, make sure you’ve delivered on promises, reviewed everything that needs your input, and returned all calls and e-mails. Stay late if you need to. Better yet, set aside time earlier in the day so you don’t have to.

Tip 10

Know when to put the book down

If you’ve grown irritable or are snapping at people, if you’re exhausted or can’t focus, if you can’t fall asleep or are waking up in the middle of the night, take a step back. It’s time to do more than “turn the page” on a workday. You need to put the book down. Whether it’s a long weekend or a true vacation, you need a break. Things aren’t going to improve until you take some extended time off to reenergize.

Every one has effectiveness tips. Feel free to add yours.

Decision Making with Data and Measurement

As many of you know, the mantra for the Business Model Canvas is to get out of the office and interview customers, partners, channels and others. In fact, talking to experts and potential customers is the only true way to reduce uncertainty and to study the value of a product or service. In fact, I believe that it is the basis for all relevant qualitative research in entrepreneurship. As I work actively with the Business Model Canvas, I am convinced that getting out of the office and into the world is only the first small step in the entrepreneurial journey.

Real world data collection and analysis is a key component to reduce the uncertainty of a startup. The starting point is to understand how much is currently known about the problem and what is it worth. What decision will this measurement help us make? Is this an important enough decision to collect more data? Otherwise, what is the value in measuring? Will sufficient additional information be gained from the measurement exercise? If not, why then why bother to measure? What additional value will the measurement add to help with the decision? All of these are crucial considerations. The starting point should not be an identifying what is to be measured, but a reflection of why the measurement is necessary.

The next issue in data collection is to decide what creates a good metric to measure. First, a good metric must be (1) understandable and comparative (shown as a rate or ratio), (2) important to collect and (3) lead to an action directly related to the original required decision. Thus, the results of the data collection should relatively easy to collect, consistent, usable, and can capture information that is relevant to the company.

There are a few simple rules to help an entrepreneur get stated with data. The first set of data is usually exploratory for a startup. Exploratory research means it is okay to through darts. Use the shotgun, throw spaghetti against the wall, see what sticks. At this stage, exploratory data may not have specific decisions for collecting data other than the process of elimination.

The next rule regards checking the data collected and making sure that the right questions were asked. Was the variance of the sample population diffuse enough to provide a good sampling? Did outliers have any effect on the results? Were any assumptions made or any context involved that might invalidate the test?

Another question to ask about collected data is whether it constitutes a leading or lagging indicator? Leading indicators are indicative of future events; lagging indicators follow the event and advise what happened. Also, consider whether the data represents a correlation or causal relationship? A correlation does not mean that one variable or change in variable causes the other. A correlation only indicates that a relationship may exist or not. There just may be some type of association. On the other hand a causal relationship or  “cause and effect” means that is, a relationship between two things or events exists if one occurs because of the other.

Measurement tools and data analytics will not bring perfect decisions, but good and appropriate measurement may reduce uncertainty with significant decisions. While hypothesis testing is important in building an effective canvas, it is also important to use suitable and valid measurement tools ( the specifics of these tools will be another blog post).

Here are a few good resources to assist in the development of data skills:

How to Measure Anything Douglas Hubbard focuses on measuring intangibles—the value of patents, copyrights and trademarks; management effectiveness, quality, and public image.

Lean Analytics Alistair Croll and Benjamin Yoskovitz takes a good look into the quantitative side of measurement specifically directed to entrepreneurs.

How to Start Think Like a Data Scientist Thomas Redmond writes a brief NBR article on getting started.

An Introduction to Data-Driven Decisions for Managers Who Don’t Like Math Walter Frick on why data matters.