How to HIT Deadlines!

Hey fellas! So here's the catch. One of my subscribers was complaining about himself stating, he couldn't get the job done immediately. His boss was kinda mad at him because given the free time, he seemed to be not moving and taking advantage of long time-frame.


Now he's asking, "Is this dilemma a phenomenon? Is there a science/explanation behind this?"

Don't get me wrong. I know you have tried this already. Say, your boss or someone else asked you to do a certain job. You have two weeks to do this, that's what he said.

Wow, two weeks for a pretty easy job? That's preposterous, you thought. So you did not start the job immediately. After 2 days you thought there's still more time and that job doesn't seem to last long. That report is just "peanuts" for me, you said to yourself.

Five days passed and you haven't moved anything. Now you started to think differently - I should start it now, you thought.

So there you are. You started doing that project and it seemed fine. However, after 2 hours, you still haven't written a single word on your report! Weird! How come I couldn't think well? Am I getting high? I'm not taking drugs, you thought.

Why is my mind wandering around the bush? Why couldn't I concentrate? You were shocked. No ideas. Nothing to write. Nothing in your mind. Unconditioned.

So all the clutters and trash in your desk were wiped out. You locked yourself inside a room, you did not answer any calls and you had a couple of coffee - just to FOCUS on what you're doing.

But there is really something strange going around, you noticed. Why can't I concentrate? Why am I running out of ideas? You are taking Parkinson's Law against you!

What is Parkinson's Law exactly? For God's sake, this is way different from Parkinson's disease. It is a notion that states, work expands so as to fill the time available for its completion.

In its simplest sense, work adjusts to time availability. Or is it really the work that adjusts or the person itself? Parkinson’s disease is a disease of the brain characterized by muscular rigidity, slow and imprecise movement. It’s like an oldie, eh?

So what are the symptoms of being a “victim” of Parkinson's Law? The person could not think well. He would be out of his mind. I mean, he loses focus and appetite to get things going. Maybe he’s facing the computer but his mind is on extreme sports.

He might be thinking like how to backflip dirtbikes. Yes. I have already tried that. Instead of thinking improvements on my project, I was thinking about drum lessons. Beat that!

So what could be the possible solution to this? Use Parkinson's Law to your advantage. How? Example: You have a project due in 3 weeks. That's way too long, right? Here are the steps for a better execution.

Assess the complexity of the project

Have a glimpse of the project. What are the items needed? How long would it take to finish each item? One day? Two days? You will have a general idea for the duration and you can set aside productive days already.

Plan your working schedule

Since you already know the duration of each item, you have to plan efficiently for proper scheduling. Is it okay if I'll just go on a drinking spree tonight and work on it the day after tomorrow? Think about instant and delayed gratification.

How about I go mall-hopping the whole day and work on the project overnight? Whatever! As long as you are comfortable with your sked, there's nothing wrong to it. What matters is still RESULTS. Right?

Self-discipline

Perhaps the most difficult of all. The first two steps are pointless if in the end you don't execute it well. If you keep on procrastinating, chances are you'll never make it. A plan is only good if it is followed step-by-step. So if based on your sked you have to make your project today, do it. If not, toss it away!

So that's it. Pretty simple but not easy. When it seems like you're stuck in the middle of nowhere and you are supposed to be Einstein, you're already a victim! Get out! Use it to your advantage :)

Mark Cuban VS Bo Sanchez

Last week I stumbled upon a post and seen a quote from Mark Cuban that says "Follow your passion is the worst advice you can ever get or give." I was completely blown away. No, I said to myself. I need to think about this. I need time. This is a hoax, I thought. But Bo Sanchez said "Follow your passion and money will come!"

To whom should I believe? Two different advises. Two opposing ideas. Which is right? Which is wrong?

Before I reach to the conclusion part, it is best to define these ideas first.

Marketing Concept

In the context of business, the first quote (Cuban) means that to become successful we don't need to follow our passion. Let us assume that his idea is based on the marketing concept "Follow the voice of customers".

Meaning, to become financially successful, it is not necessary to pursue or passion. Rather, we make money by creating something of value and give it to customers for a profit.

Say, you observed that your neighbors are complaining about the tall grass on their backyards. No one seems capable of gardening since they are old already and they don't have the equipment to cut the grass.

How about buying a lawn mower so that I can offer service for a profit, you thought.

So you went on buying that equipment and you serve not only your neighbors but to other places as well. Your customers are growing fast so you're not doing the mowing service anymore. You hire people and let them do the job for you. Your profit is growing exponentially. Now that's business. Sounds logical right?

Passion Concept

On the other hand, Bo Sanchez's notion is different. On his book "How to Turn your Passion into Profit", he says to become successful one should identify his strengths and interests to ascertain his passion. This is like your life's mission.

Think of something that you want to do for the rest of your life. Something that doesn't give you headaches, doesn't bothers you doing and you like doing it for the sake that you really love what you're doing even if no one pays you to do it. That is passion! But that's just the icing on the cake. To become successful, make money on your passion. How?

Example, you really like playing basketball. You're not getting tired about it. You love to shoot and you love to be idolized by pretty girls.

Not only that. Any time of the day and any day of the week, you are craving to play basketball. I just love playing basketball and it's something I want to do for the rest of my life, you thought. But I should make money out of this to sustain my passion, you realized.

Now you're doing your best to become a professional basketball player. You are now playing at PBA! Wow! Months later you won the MVP award. 

Marvelous! Now you want to step up on the ladder. Since you are basketball star ala Michael Jordan, you think of having a business by opening a Basketball School. You train aspiring players around the country. You get paid big! Now your earning enough profit apart from your basketball career in PBA. Now that's business. Possible? Of course!

My Personal Views

Now this is my realization. These two ideas are both RIGHT and WRONG. Why right? I think about it very carefully. Right in such a way that these ideas are CORRECT. I mean, these ideas happen. This is realistic, applicable and solid proofs. We can see people in all facets of life who are successful in different areas.

I would say that the first idea (marketing concept) is right for true capitalists. That is, making money by identifying what the customer really needs or wants.

I would sound to be so stupid if I sell something that people do not want, right? Hey, pay me 50 bucks for a plastic of fresh air from Greece, you are yelling to a lady in the city. Do you think she would buy? Why not? I would go inside the mall than your "instant Greece air" instead. Sensible?

Some of the iconic capitalists are Henry Sy, John Gokongwei, Lucio Tan and Ramon Aboitiz. Going global, here's Warren Buffett, Sam Walton, Donald Trump and the famous Bill Gates.

The passion concept is also RIGHT. This is true for talented entrepreneurs. Skilled individuals. Best example is J.K. Rowling.

She loves writing. She likes writing books and she's an excellent storyteller. How did she earn money from it? Harry Potter. Almost everyone knows this movie. But this is actually based on her novel.

Imagine how many people buy her book. 200 million? Understatement. I would say almost half billion. And how much is she earning per book sales (royalty)? BIG money. Other example is Tiger Woods.

He is the iconic golf star who earns millions by just playing golf. That's it! Playing golf! He's getting paid to play. Here's Beyonce. She's screaming and singing and everyone in the world likes listening to her songs. Her songs are sold on CD's and digital formats (i.e. iTunes, Amazon). Her royalty is soaring high that made her one of the highest-paid singer in the world!

Why wrong? These ideas are both wrong if fallen to the wrong person. If you are such a true-blooded capitalist, the passion concept might not work. If your mind is wired according to a capitalist's, you are customer-focused and not really about yourself. You tend to find out what's working and what's selling to people fast. You are not concerned about your passion.

Passion is simply just a leisure. A side-activity not a major priority. If a capitalist likes golf, he plays everyday but not to the point of learning the ultimate techniques. No, that is a waste of time. I would rather spend my energy on asset-producing business. Golf is just a way to relieve my stress from work. It is what fuels me to do what I should ought to do, not the other way around.

Afterword

If you are a talented person, stick to the passion concept. I strongly suggest. Why? Because you already know what you love to do and what you're good at doing. In this generation, a number of personalities succeed because of their talents. Best example is Charisse. She really has the voice. And it entertains people a lot. She makes them happy. People is willing to pay for entertainment than food. That's the irony. 

Might as well take advantage of it while it's still HOT. Skilled entrepreneurs are most likely successful if they make a business out of their specialty. In this manner their minds and imaginations are centered on their business which is their passion. Nothing could go wrong.

Interesting Facts about Sunglasses Industry

In a period of global recession the sunglasses industry is one of the few retail sectors currently experiencing growth. This has been backed up by a number of statistical overviews suggesting that in September 2011 the industry grew by 3.2 per cent in the US when compared to the findings in September 2010. This being said, being successful in the sunglasses industry can be particularly challenging when we consider the tough competition as well as the changing styles and fashion. With this in mind, here are a few interesting facts about this booming industry.

A Quick Industry Overview

Sunglasses sales and manufacturing makes up to 10 per cent of the whole vision care industry, and although in 2008 and 2009 there was a slight drop in sales as a result of less credit availability, the industry is continuing to show steady growth annually.

Industry Giants

One of the most important industry players is an Italian company Luxottica with company's shares being worth more than 50 USD per share. Luxottica manufactures in and around 70 per cent of popular branded sunglasses including Burberry, Chanel, Versace, Prada and Ralph Lauren under an exclusive license. This company also owns a number of leading brands including the ever-popular Ray Ban and Oakley. Furthermore, Luxottica also owns a number of vision care retailers including Sunglass Hut and Pearle Vision. Another important player in the sunglasses business is an Italian company Safilo whose shares are worth more than 12 USD per share. Safilo owns a license to manufacture brands like Dior, Alexsander McQueen, Gucci and many more.

Industry Profitability

It is fair to say that designer sunglasses have one of the greatest profit margins when all products are considered. In addition to this, the technology used to maximise the health benefits of wearing sunglasses is fairly inexpensive. This therefore means that the manufacturers of high-end branded sunglasses reap the rewards as customers pay for the designer label.

Industry Considerations

In order to break into the sunglasses business buying in bulk from a wholesaler is often the best way to get you started within this competitive industry. It is therefore crucial that sunglasses retailers do their research in order to keep up with the latest fashion trends to ensure that they do not buy outdated styles.

Nowadays sunglasses have become not only a tool to protect one's eyes, but also an important accessory to make a fashion statement, and this in turn means that the industry will continue to be successful in the years to come.

Building A Foundation Of Righteousness

Image credit: wikimedia

When we read stories of Prophet Nuh, Yousuf, Musa (alayhi-salaam) and many more, we are not given a timeline of how long the events occurred. How long did it take Prophet Nuh (alayhi-salaam) to build the Ark and collect animals in pairs? How long did Prophet Yousuf (alayhi-salaam) stay in the well or imprisoned? How long did Prophet Musa (alayhi-salaam) struggle against the pharaoh?

And Fir'aun (Pharaoh) said: "O Haman! Build me a tower that I may arrive at the ways, | the ways of the heavens, and I may look upon the Ilah (God) of Musa but verily, I think him to be a liar." Thus it was made fair-seeming, in Fir'aun's eyes, the evil of his deeds, and he was hindered from the (Right) Path, and the plot of Fir'aun led to nothing but loss and destruction (for him).

40. Surat Ghāfir (The Forgiver; 36-37)

If Haman had built Pharaoh a pyramid, it may have took 10-30 years to built. That would have been a long-term goal to disprove Prophet Musa (alayhi-salaam), stop his campaign, and maintain the status of god. But, clearly Pharaoh had short-term goals to meet his long-term goal. He ordered a kill on Prophet Moses (alayhi-salaam). Short-term goals are the foundation to meet the medium-term goals and reach long-term goals and success.

Then is one who laid the foundation of his building on righteousness [with fear] from Allah and [seeking] His approval better or one who laid the foundation of his building on the edge of a bank about to collapse, so it collapsed with him into the fire of Hell? And Allah does not guide the wrongdoing people.

9. Surat At-Tawbah (The Repentance; 109)

Those before them had already plotted, but Allah came at their building from the foundations, so the roof fell upon them from above them, and the punishment came to them from where they did not perceive.

16. Surat An-Naĥl (The Bee; 26)

We all know how well the Pharaoh fared. What we can learn from the story of Pharaoh and the ayats above are; if we build a weak foundation, everything will collapse.We must act on righteousness.

When we look back at our priorities (from step 10), we should put forward those that may erode our foundation toward prosperity. Based on the Priority Pyramid, we put our focus on creating a positive cash flow, paying off of consumer debts, and freeing ourselves from riba as short-term goals.

Image source MoneySense

Step 12 discusses setting up short-term, medium-term, and long-term goals. This refers to time required to achieve the goal and they must be SMART goals. But, all goals can be broken down in shorter time fragments of achievements. A short-term goal in repaying a debt of $1200 is broken down to saving just $100 a month after receiving a paycheck. We are creating a monthly guidance and small wins  for ourselves, to move toward the big picture. Prosperity.

They are on guidance from their Lord, and it is these who will prosper (be successful).

2. Surat Al-Baqarah (The Cow; 5)

Image credit Internet Entrepreneur Connection

Off-topic fun for discussion: since pyramids are tombs, and the Pharaoh thinks that he is god, it would contradict Pharaoh's goal to create public perception that he is god. Therefore, it would not have been a pyramid that Haman built. Thus, we are back at where we started with the mysteriousness of time and events.

Insurance for Commercial Vans

While insurance is essential for any kind of business, a business owner often needs to make decisions on what to insure and to what extent. Insurance for shop space, for storage space, during transit, etc. are all decisions that needs to be made. Considering this, the ultimate delivery of goods and services is often done via a commercial van. Many small businesses have commercial vans that are the linchpin of the business.



Be it any kind of business - plumbers, florists, undertakers or carpenters, a business van is how they reach the place of business. In such a case, what is to be done if something goes wrong with the van? There are plenty of things that could go wrong. The van could be stolen, it could be in an accident or it could even get damaged in a storm. If this happens, the business owner would be left bereft without a vehicle to take him to the customers and space to carry the equipment of his trade. Thus van insurance cover is pretty essential for taking care of problems, if they arise.

However, as stated above, no one wants to over insure or take excessively expensive insurance or unwanted cover for their business wants. A business owner might even feel tempted to go for the cheapest insurance if they have several vans or do not use a van frequently. However, because of the laws governing vehicles, all vehicles have to be insured, so why not insure them appropriately?

Van insurance quotes cover pretty much all the van models manufactured, and the insurance company will have their own standard premiums for each model. As a standard, a big van with a powerful engine will obviously cost more in premiums than a small van. The reason for this is that insurance companies have to take into account the costs of repair and replacement. Sometimes insurance companies would refuse to insure vans if the business owner makes a frequent habit of attaching large and heavy trailers to the van.

Insurances come in very diverse forms, but it is important to go for a comprehensive coverage after assessing the risks the business owner is exposed to. While it is always good to try and find the cheapest deals, it is not a wise decision to do so at the cost of coverage. Things that are essential to be covered are tools and equipment of the trade, audio and electronic systems, keys, locks, alarms, plus of course, any overall damage to the car. Covers against theft, fire, damage to van must also be covered as these are events whose likelihood of occurrence is pretty high.

There is often a discount provided for insuring many vans in one cover and the business owner can take advantage of this to reduce premium costs. Ultimately, what is important is knowing and understanding the various insurance coverages available for a particular make of commercial van, and making the appropriate decisions to take the coverage that suits the business best. Once this is done, the business owner may choose to find the cheapest deal offering what is required.

Know what is required and then shop for it!

How To Pay Off Credit Card Debt

Debt is a horrible master. Nothing saps wealth like being in debt. Just take your monthly payments, add them together, then times it by twelve.

How much do you spend on debt?

Once you get the number go to this compound interest calculator. Set as the interest rate a reasonable rate (try 6%). Then set the years to the average length of a car loan (5 years), then take your monthly amount you spend on debt and add it to the calculator. Select the compound interval to yearly. What is the number you get? Image what you could buy or save if you paid off debt!

How do you pay off debt? Follow these simple steps:

1. Get the current balances for your debt accounts.
2. Throw the amounts and list in excel or Google spreadsheets.
3. Sort the list from smallest to greatest.
4. Add due dates, minimum monthly payments
5. Pay off the smallest amount ASAP
6. Take the minimum payment you were paying for the smallest balance and add it to the next smallest balance. Ex: Visa minimum is $50 per month, Master Card is $100. After VISA is paid off, apply th $50 to the Master Card monthly payment making it $150
7. Keep doing this until you reach your mortgage.
8. At this point I would apply half of what you were spending on consumer debt to pay off your mortgage faster!
9. Celebrate!!

Timesheet portal for financial report analysis

Timesheet reports and analysis offer a comprehensive pallet of reporting options. Timesheet reports often quickly analyse the project and all its resources and financial data. All the reports are actually based on live data. This blog post will focus on how timesheet reports functions. Take a look at it.

Timesheet tracks actual versus targeted billable hours:

Timesheet reports measure the productivity of the staff time. Therefore, any business who wants to manage their staff time and increase sale, make use of timesheet portal.

Timesheet generates detailed project reports:

Every detail of a project including the costs, margin, and budget and billing hours can be maintained through timesheet portal software. Every hour worked based on per client on individual target and billable time can be easily traced through this software. With timesheet debtor invoicing, cash flow management can be reportable on a real time basis which is essential for all business.

Timesheet helps to show the work in progress:

All the resources hours which are booked by the clients along with the charges that wait invoicing can be recorded.

Following are the other reports that can be tracked through time sheet portal:

The invoicing options include-Staged billing, time and material and any fixed price.

The custom billing templates which involves heaps of invoice layouts together with products can be maintained through timesheet.

Timesheet system helps you to chase money in the right way. The system track correspondence sent and receivable money and allow you to enter notes for further future references for easy receipt of payment.

The validation of staff time is well calculated by timesheet portal. This eliminates any guesswork and allows room for smooth management. Moreover, timesheet also removes errors and streamlines billing.
Using billing module along with timesheet is a great alternative for flexible invoicing.

Therefore, when it is a matter of acquiring an accurate business report, timesheet plays a major role.