Avoid the Lawyer Mentality
Steven Covey wrote in a June 2007 article in Entrepreneur Magazine:
Consider the example of Berkshire Hathaway CEO Warren Buffett in acquiring McLane Distribution–a $23 billion company–from Wal-Mart. A deal of this size involving public companies would typically take several months to complete and cost several million dollars in due diligence. But because both parties operated with high trust, this deal was made with one two-hour meeting and a handshake. In less than a month, it was completed. Buffett wrote in his annual report: “We did no ‘due diligence.’ We knew everything would be exactly as Wal-Mart said it would be–and it was.” Imagine–less than one month and no due diligence costs. High trust, high speed, low cost.
I love this example and recently heard Steven Covey give a speech, citing the same example again. Covey uses this example to show that it is incredibly important to have trust in business and that this can reduce the costs of transactions and make it easier to advance. I, however, like this example for another reason as well–a reason that I feel is far more significant: This example shows that without focusing on minutiae, and arguing back and forth about innumerable small details, a great deal more [Read more]
The Importance of Disconnecting from Your Work
What You Will Learn
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Some of the happiest, most well-adjusted, and most effective people I know are also people who have a profound ability to disconnect from their work. They can disconnect rapidly and put themselves in another state of mind that does not involve work. Some images that come to mind are people like Richard Branson setting records in balloons, golfers who are captains of industry leisurely golfing their days [Read more]
46 Actions You Can Take to Optimize Your Job Search and Career Today
When I used to apply for jobs myself, I would always go to the office supply store and purchase the absolute most expensive paper and envelopes I could. I remember, the paper I used to purchase was so expensive that you could only purchase 50 sheets of it at a time. The paper was so heavy that it was almost like cardboard and difficult to fit in the equally expensive envelopes that I purchased with the paper. This may seem like something that is ridiculous and far more over the top than necessary. However, starting from a young age, I have [Read more]
