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Pinellas Park, Florida, United States
I founded Core Business Solutions with the goal of helping business owners improve operating results, add value, and recapture the energy and passion that was present when the business was new. We also have the expertise to assist start-up companies create the foundational structure needed to provide the best opportunity for the business to grow and prosper in uncertain economic times. Our goal is to help the business entrepreneur/owner, through mentoring and coaching, develop or enhance managerial skills while providing that independent and objective advice and expertise usually provided by a board of directors.
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Saturday, May 29, 2010

Difficult Decision? ------Yes - Sleep On It!

It is official!  If you have a very tough decision to make - you are much better to 'sleep on it'.

A team of Dutch scientists has come to the conclusion that if you are making a simple and basic choice, like deciding which peanut butter to buy, then a conscious decision is better. However, these same scientists found that as the decision gets more complex and important, you're more likely to make a better quality decision if you 'sleep on it'.

A study in the journal "Science" gave the results of a series of tests which appeared to demonstrate that people who relied only on conscious thought processes tended to perform worse when decisions became more complex than those who were able to 'sleep on it'.  The research team explained that the problem with conscious thought is that the brain can only focus on a few things at the same time, which can lead to some aspects being given undue importance.

Lead researcher Dr. Ap Dijksterhuis said "The take home message is that when you have to make a decision, the first step is to gather all the information necessary for the decision. By going through this collecting process you begin to break down all the different parts of the decision as you think about each part of the information you need."

Once you have all the information, you have to decide and this is best done with conscious thought for simple decisions, but left to unconscious thought - to 'sleep on it' - when the decision is complex.
William Golding said  "Sleep is when all the unsorted stuff comes flying out as from a dustbin upset in a high wind."

Jonathan Schooler of the University of British Columbia in Vancouver told Science that "too much (conscious) reflection could be detrimental in some situations."

Strategic planning for a business involves many complex decisions that should be reviewed and thought through over time and this is why I explain to anyone who is doing business planning of any kind to understand that this 'is a process, not an event.' 

In about 2-3 weeks or so I'll review another subject designed to provide business owners with information they can use to help them work "on" their business.

Until Next Time : Live Simply, Speak Kindly, Care Deeply, Love Generously and Live In The Moment

All The Best,

Walt Morey

Core Business Solutions

Executive Business Advisor Accredited by the Institute for Independent Business

Friday, May 7, 2010

12 Tips on Time Management

Many small business owners or sole proprietors find themselves stretched for time in an economy that requires businesses to do more with less to stay competitive. That’s why it’s wise for entrepreneurs to develop good time management habits so that everything that needs to be done, gets done.

First understand that you can not actually manage time. There will always be only 24 hours per day. But you can do a better job of managing how you interact with and deal with the time you have.
It's about managing your activities or behavior.

Here are 12 tips to help you work smarter and use your time wisely.

1. Buy a week-at-a-glance appointment book and use it religiously. Write everything that you need to accomplish in this book. This book is your brain!

2. Differentiate between the urgent and the vital. The urgent may be making a lot of noise to get your attention, but it is rarely vital that it be done right now or at all. Have a sense of urgency but without panic.

“The vital task rarely needs to be done today. The urgent task calls for instant action. The momentary appeal of these tasks seems irresistible, and they devour our energy. With a sense of loss we recall the vital tasks we pushed aside. We realize that we have become slaves to the tyranny of the urgent.” –Charles Hummel

3. The key is not to prioritize what is on your schedule, but to schedule your priorities.

4. Keep track of your time by 15 minute increments for 2 weeks to see how you actually spend your time. Compare this to what you should be or want to be spending your time on. It will help give you the motivation to make needed changes.

5. Say “no” to the project, not the person. You cannot do everything everyone asks you to do.

6. Learn how to effectively delegate. This means picking the right person, giving clear directions, setting benchmark and due dates, and then letting them do it.

7. Procrastination has a lot of different causes: fear, boredom, perfectionism, an overwhelming task and unclear goals. Identify the reason behind procrastination, so you are solving the right problem when dealing with it.

8. If you earn $10,000 a year, each minute is worth $.09. If you earn $30,000 a year, each minute is worth. $.26. Use these thoughts to help you prioritize your activities and to determine to whom you should be delegating. Any time you are doing work that someone at a lower wage could be doing, you are losing money.

9. Set goals. They help you prioritize your activities and let you know that you have succeeded.

10. Don't waste time waiting. We are all trapped into waiting for the dentist or an appointment to start. Have something with you that you can work on: Use your I Phone to check your email; Return calls you received on your cell phone or even just balance your checkbook. Make every minute count.

11. Set Time Limits For Tasks. Set aside a maximum times (i.e. 1 hour; 90 minutes, etc.) to review email or return phone calls or any other task. Set a timer to remind you when your time is used up.

12. There are 1,440 minutes in a day and 29020 days in an 80 year lifetime. Take control of your time and make this year the year you do what you want.

I hope I've provided you some ideas that can help you work better 'on' your business and perhaps even in it as well.

In about 2 weeks or so I'll cover another that can assist you with your business.

Until Next Time : 
Live Simply
Speak Kindly
Care Deeply
Love Generously 
Live In The Moment

All The Best,

Walt Morey

Core Business Solutions
Executive Advisor Accredited by the Institute for Independent Business

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