Sunday, April 26, 2009

How Group Decisions Can End up Wrong!

How Investment Committees Go Amiss -

Jason Zweig, in his column, The Intelligent Investor, points out that financial decisions made by committees, are often bad decisions. His advice applies to all kinds of decisions.
  • Measure what factors predict success.
  • Rank the people (and rank the ideas) using metrics.
  • Reframe the question. Develop arguments "pro" and "con".
  • Ask "the five whys". Why is the idea superior? Why is this the 'right" answer? Why...?, Why...? Why...?
  • Define the default position. Any deviation from the default should require extraordinary evidence.
Excellent advice for ANY decision making.

Monday, April 13, 2009

A List of 100 Attributes for People to Succeed

Thanks to Guy Kawasaki for putting this website on Twitter.
Check out the complete list.
Some of my favorites are:
3- Get comfortable asking for advice and help.
4- Present your (startup) ideas to anyone who will listen
5- Get really, really good at concisely stating your (business) idea.
11- What pain are you fixing? And whose pain is it? Who are the stakeholders?
14- Details vs. General. Actually you need both views.
19- Is work fun for you? If not don't bother.
26- "Ready, aim, fire." Should be "ready, fire, adjust."

Very valuable. For everyone, whether you are starting a new venture, or working to be successful in an existing company. I wish someone had given me this list 40 years ago!

Write an Elevator Pitch for Your Blog [Day 1 -31DBBB]

Help to Develop an Elevator Pitch... see this worthwhile website.
Elevator Pitch is not just something to snare an investor. Rather, we all need to create a 1 minute talk that explains-
  1. Need- Who is the USER and What is his/her need/ problem?
  2. Vision- What will we do to address the need?
  3. Benefits- What will happen when we solve it?
  4. Feasible- Why will we succeed? Technically possible, affordable, strategy for making it a reality.
  5. Passion- Why is this something important that will make the world a better place?
And then "pitch it" to everyone you meet, to enlist support! Good Luck! Focus on NEEDS not wants. Never stop. Make your vision a reality.