Time Management by John Hoover, is a wonderful book that I read during weekend. I could relate more examples from my work life to the practices dictated in this book. Surprisingly, I’ve already been unknowingly practicing some of these techniques. Nonetheless, I sense that this book is a great read for those who believe that they don’t have enough time.
Here are my key takeaways:
- Those who manage their time well, tend to have a big picture of their goals at work and life. They can easily breakdown goals into smaller units and later transform them into action oriented to-do lists.
- Be motivated to learn from mistakes and feedbacks.
- Three Elements of Goal management: Long term Goals (typically more than a year); Objectives (Complicated in a month or more); Tasks (Daily and weekly action items). First step in time management is to set the right long term goals and supporting them with objectives and daily actions.
- Set measurable goals. Do not set vague goals such as making your company best in the world. What does “best” mean here? Is it about making the most profit or best place to work or beating all competitors in your industry or what not? Increasing the revenue by 25% is a measurable target.
- Set realistic deadlines to finishing the tasks. Completing MBA in 1 month is unreasonable, isn’t it?
- Complex projects are ambitious but not impossible. Break them down into objectives and actionable tasks, ultimately. This process is called chunking. A seemingly impossible project that runs for more than a year may be broken down into daily, weekly and monthly progresses. “A journey of 1000 miles begins with a single step” – Famous Eastern Proverb.
- Objectives are important because failing to achieve them on time, jeopardizes long-term goals. Achieving objectives would also build on confidence.
- Don’t rely on memory alone: Most best time managers agree that writing down the tasks is the key to effective time management. Lists help in organizing goals, objectives and tasks. Lists make you feel in control and prioritize tasks. Questions such as who, what, when, why, where and how might be handy to prioritize tasks. Anticipate unexpected factors that can affect and change priorities, such as financial concerns, deadlines, co-worker’s commitment, other projects, etc.
- “Just get it done” attitude certainly helps. Do not procrastinate.
- Creativity does flourish when patterns are rearranged, however, it can occur only in an organized environment.
- Use technology to effectively manage tasks (emails, reminders, and archives, can be quite handy)
- Be on the look out for time traps such as too much of Instant Messaging, excessive chatting with co-workers, online games, etc. Saying “No” to time wasters is like buying extra time.
- Be flexible and be ready to accommodate unforeseen surprises in the schedule.
- Never forget to factor in “Thinking Time”.
- Don’t be afraid to complete tasks out of their chronological order.
- When emails don’t get handled efficiently, they disorganize the work area.
- Don’t call for a meeting unless you have a clear idea about the purpose of the meeting. Meetings have the potential to turn into incredible time wasters. Prepare for the agenda in advance and inform participants their roles. Plan logistics to minimize disruption.
- Being too casual at work or pressing too hard, can burn you out.
- Respect everyone’s time. Be short and succinct.
- Try and complete a project within the deadline, by being more productive during working hours and not by dedicating extra time from personal time.
- Don’t waste time by dwelling over things that cannot change.
- Don’t work fast and furious. Patience certainly helps.
- Never hate to voice your opinion or ask a question.
- Make sure to celebrate/reward your team when objectives are achieved.
Nicholas Leeson is a former derivatives trader who was responsible for the collapse of Barings Bank in 1995, shaking the entire financial world. Nick was sentenced six and a half years in Changi Prision, Singapore and was released having been diagnosied with colon cancer(later on cured completely). But despite all odds, Nick survived and he now serves as a CEO of an Irish football club. Nick is one of the world's most in-demand conference and after dinner speakers.1. Once upon a time a tortoise and a hare had an argument about who was faster. They decided to settle the argument with a race. The tortoise and hare both agreed on a route and started off the race. The hare shot ahead and ran briskly for some time. Then seeing that he was far ahead of the tortoise, he thought he'd sit under a tree for some time and relax before continuing the race. He sat under the tree and soon fell asleep. The tortoise plodding on overtook him and soon finished the race, emerging as the undisputed champ. The hare woke up and realised that he'd lost the race. The moral of the story is that slow and steady wins the race. This is the version of the story that we've all grown up with.
2. But then recently, someone told me a more interesting version of this tortoise and hare story. It continues.The hare was disappointed at losing the race and he did some soul-searching. He realised that he'd lost the race only because he had been overconfident, careless and lax. If he had not taken things for granted, there's no way the tortoise could have beaten him. So he challenged the tortoise to another race. The tortoise agreed.
This time, the hare went all out and ran without stopping from start to finish. He won by several miles. The moral of the story? Fast and consistent will always beat the slow and steady. If you have two people in your organisation, one slow, methodical and reliable, and the other fast and still reliable at what he does, the fast and reliable chap will consistently climb the organisational ladder faster than the slow, methodical chap. It's good to be slow and steady; but it's better to be fast and reliable.
3. But the story doesn't end here. The tortoise did some thinking this time, and realised that there's no way he can beat the hare in a race the way it was currently formatted. He thought for a while, and then challenged the hare to another race, but on a slightly different route. The hare agreed. The tortoise and hare started off. In keeping with his self-made commitment to be consistently fast, the hare took off and ran at top speed until he came to a broad river. The finishing line was a couple of kilometres on the other side of the river. The hare sat there wondering what to do. In the meantime the tortoise trundled along, got into the river, swam to the opposite bank, continued walking and finished the race. The moral of the story? First identify your core competency and then change the playing field to suit your core competency. In an organisation, if you are a good speaker, make sure you create opportunities to give presentations that enable the senior management to notice you. If your strength is analysis, make sure you do some sort of research, make a report and send it upstairs. Working to your strengths will not only get you noticed, but will also create opportunities for growth and advancement. The story still hasn't ended.
4. The tortoise and hare, by this time, had become pretty good friends and they did some thinking together. Both realised that the last race could have been run much better. So the tortoise and hare decided to do the last race again, but to run as a team this time. They started off, and this time the hare carried the tortoise till the riverbank. There, the tortoise took over and swam across with the hare on his back. On the opposite bank, the hare again carried the tortoise and they reached the finishing line together. Both the tortoise and hare felt a greater sense of satisfaction than they'd felt earlier. The moral of the story? It's good to be individually brilliant and to have strong core competencies; but unless you're able to work in a team and harness each other's core competencies, you'll always perform below par because there will always be situations at which you'll do poorly and someone else does well. Teamwork is mainly about situational leadership, letting the person with the relevant core competency for a situation take leadership.
There are more lessons to be learnt from this inspirational teamwork story.
Note that neither the tortoise and hare gave up after failures. The hare decided to work harder and put in more effort after his failure. The tortoise changed his strategy because he was already working as hard as he could. In life, when faced with failure, sometimes it is appropriate to work harder and put in more effort. Sometimes it is appropriate to change strategy and try something different. And sometimes it is appropriate to do both. The tortoise and hare also learnt another vital lesson in teamwork. When we stop competing against a rival and instead start competing against the situation, we perform far better. When Roberto Goizueta took over as CEO of Coca-Cola in the 1980s, he was faced with intense competition from Pepsi that was eating into Coke's growth. His executives were Pepsi-focussed and intent on increasing market share 0.1 per cent a time. Goizueta decided to stop competing against Pepsi and instead compete against the situation of 0.1 per cent growth. He asked his executives what was the average fluid intake of an American per day? The answer was 14 ounces. What was Coke's share of that? Two ounces. Goizueta said Coke needed a larger share of that market. The competition wasn't Pepsi. It was the water, tea, coffee, milk and fruit juices that went into the remaining 12 ounces. The public should reach for a Coke whenever they felt like drinking something. To this end, Coke put up vending machines at every street corner. Sales took a quantum jump and Pepsi has never quite caught up since. To sum up, the story of the hare and tortoise teaches us many things. Chief among them are that fast and consistent will always beat slow and steady; work to your competencies; pooling resources and working as a team will always beat individual performers; never give up when faced with failure; and finally, compete against the situation, not against a rival.
Great leaders exploit all three styles: authoritative/participative/delegative based on the situation:
- Authoritative - if group members lack knowledge
- Participative - if group members understand the objectives and roles
- Delegative - if group members know more than you do
And here is the transcript...
I am honored to be with you today at your commencement from one of the finest universities in the world. I never graduated from college. Truth be told, this is the closest I've ever gotten to a college graduation. Today I want to tell you three stories from my life. That's it. No big deal. Just three stories.
The first story is about connecting the dots.
I dropped out of Reed College after the first 6 months, but then stayed around as a drop-in for another 18 months or so before I really quit. So why did I drop out?
It started before I was born. My biological mother was a young, unwed college graduate student, and she decided to put me up for adoption. She felt very strongly that I should be adopted by college graduates, so everything was all set for me to be adopted at birth by a lawyer and his wife. Except that when I popped out they decided at the last minute that they really wanted a girl. So my parents, who were on a waiting list, got a call in the middle of the night asking: "We have an unexpected baby boy; do you want him?" They said: "Of course." My biological mother later found out that my mother had never graduated from college and that my father had never graduated from high school. She refused to sign the final adoption papers. She only relented a few months later when my parents promised that I would someday go to college.
And 17 years later I did go to college. But I naively chose a college that was almost as expensive as Stanford, and all of my working-class parents' savings were being spent on my college tuition. After six months, I couldn't see the value in it. I had no idea what I wanted to do with my life and no idea how college was going to help me figure it out. And here I was spending all of the money my parents had saved their entire life. So I decided to drop out and trust that it would all work out OK. It was pretty scary at the time, but looking back it was one of the best decisions I ever made. The minute I dropped out I could stop taking the required classes that didn't interest me, and begin dropping in on the ones that looked interesting.
It wasn't all romantic. I didn't have a dorm room, so I slept on the floor in friends' rooms, I returned coke bottles for the 5¢ deposits to buy food with, and I would walk the 7 miles across town every Sunday night to get one good meal a week at the Hare Krishna temple. I loved it. And much of what I stumbled into by following my curiosity and intuition turned out to be priceless later on. Let me give you one example:
Reed College at that time offered perhaps the best calligraphy instruction in the country. Throughout the campus every poster, every label on every drawer, was beautifully hand calligraphed. Because I had dropped out and didn't have to take the normal classes, I decided to take a calligraphy class to learn how to do this. I learned about serif and san serif typefaces, about varying the amount of space between different letter combinations, about what makes great typography great. It was beautiful, historical, artistically subtle in a way that science can't capture, and I found it fascinating.
None of this had even a hope of any practical application in my life. But ten years later, when we were designing the first Macintosh computer, it all came back to me. And we designed it all into the Mac. It was the first computer with beautiful typography. If I had never dropped in on that single course in college, the Mac would have never had multiple typefaces or proportionally spaced fonts. And since Windows just copied the Mac, its likely that no personal computer would have them. If I had never dropped out, I would have never dropped in on this calligraphy class, and personal computers might not have the wonderful typography that they do. Of course it was impossible to connect the dots looking forward when I was in college. But it was very, very clear looking backwards ten years later.
Again, you can't connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.
My second story is about love and loss.
I was lucky — I found what I loved to do early in life. Woz and I started Apple in my parents garage when I was 20. We worked hard, and in 10 years Apple had grown from just the two of us in a garage into a $2 billion company with over 4000 employees. We had just released our finest creation — the Macintosh — a year earlier, and I had just turned 30. And then I got fired. How can you get fired from a company you started? Well, as Apple grew we hired someone who I thought was very talented to run the company with me, and for the first year or so things went well. But then our visions of the future began to diverge and eventually we had a falling out. When we did, our Board of Directors sided with him. So at 30 I was out. And very publicly out. What had been the focus of my entire adult life was gone, and it was devastating.
I really didn't know what to do for a few months. I felt that I had let the previous generation of entrepreneurs down - that I had dropped the baton as it was being passed to me. I met with David Packard and Bob Noyce and tried to apologize for screwing up so badly. I was a very public failure, and I even thought about running away from the valley. But something slowly began to dawn on me — I still loved what I did. The turn of events at Apple had not changed that one bit. I had been rejected, but I was still in love. And so I decided to start over.
I didn't see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life.
During the next five years, I started a company named NeXT, another company named Pixar, and fell in love with an amazing woman who would become my wife. Pixar went on to create the worlds first computer animated feature film, Toy Story, and is now the most successful animation studio in the world. In a remarkable turn of events, Apple bought NeXT, I returned to Apple, and the technology we developed at NeXT is at the heart of Apple's current renaissance. And Laurene and I have a wonderful family together.
I'm pretty sure none of this would have happened if I hadn't been fired from Apple. It was awful tasting medicine, but I guess the patient needed it. Sometimes life hits you in the head with a brick. Don't lose faith. I'm convinced that the only thing that kept me going was that I loved what I did. You've got to find what you love. And that is as true for your work as it is for your lovers. Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it. Don't settle.
My third story is about death.
When I was 17, I read a quote that went something like: "If you live each day as if it was your last, someday you'll most certainly be right." It made an impression on me, and since then, for the past 33 years, I have looked in the mirror every morning and asked myself: "If today were the last day of my life, would I want to do what I am about to do today?" And whenever the answer has been "No" for too many days in a row, I know I need to change something.
Remembering that I'll be dead soon is the most important tool I've ever encountered to help me make the big choices in life. Because almost everything — all external expectations, all pride, all fear of embarrassment or failure - these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.
About a year ago I was diagnosed with cancer. I had a scan at 7:30 in the morning, and it clearly showed a tumor on my pancreas. I didn't even know what a pancreas was. The doctors told me this was almost certainly a type of cancer that is incurable, and that I should expect to live no longer than three to six months. My doctor advised me to go home and get my affairs in order, which is doctor's code for prepare to die. It means to try to tell your kids everything you thought you'd have the next 10 years to tell them in just a few months. It means to make sure everything is buttoned up so that it will be as easy as possible for your family. It means to say your goodbyes.
I lived with that diagnosis all day. Later that evening I had a biopsy, where they stuck an endoscope down my throat, through my stomach and into my intestines, put a needle into my pancreas and got a few cells from the tumor. I was sedated, but my wife, who was there, told me that when they viewed the cells under a microscope the doctors started crying because it turned out to be a very rare form of pancreatic cancer that is curable with surgery. I had the surgery and I'm fine now.
This was the closest I've been to facing death, and I hope its the closest I get for a few more decades. Having lived through it, I can now say this to you with a bit more certainty than when death was a useful but purely intellectual concept:
No one wants to die. Even people who want to go to heaven don't want to die to get there. And yet death is the destination we all share. No one has ever escaped it. And that is as it should be, because Death is very likely the single best invention of Life. It is Life's change agent. It clears out the old to make way for the new. Right now the new is you, but someday not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic, but it is quite true.
Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma — which is living with the results of other people's thinking. Don't let the noise of others' opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.
When I was young, there was an amazing publication called The Whole Earth Catalog, which was one of the bibles of my generation. It was created by a fellow named Stewart Brand not far from here in Menlo Park, and he brought it to life with his poetic touch. This was in the late 1960's, before personal computers and desktop publishing, so it was all made with typewriters, scissors, and polaroid cameras. It was sort of like Google in paperback form, 35 years before Google came along: it was idealistic, and overflowing with neat tools and great notions.
Stewart and his team put out several issues of The Whole Earth Catalog, and then when it had run its course, they put out a final issue. It was the mid-1970s, and I was your age. On the back cover of their final issue was a photograph of an early morning country road, the kind you might find yourself hitchhiking on if you were so adventurous. Beneath it were the words: "Stay Hungry. Stay Foolish." It was their farewell message as they signed off. Stay Hungry. Stay Foolish. And I have always wished that for myself. And now, as you graduate to begin anew, I wish that for you.
Stay Hungry. Stay Foolish.
Thank you all very much.
But as a rule of thumb, every school looks for one common characteristic : "Leadership". Schools expect their students to have demonstrated leadership abilities in the past and present. Of course, they do understand that Leadership is not just leading people but also managing extra curricular activities, innovating, teaching, managing multiple assignments, handling pressure, etc.
To me, my college experience provided me with plenty of such opportunities and I did highlight them on my applications. The five-year tenure provided me the best flexibilities to capitalize on non-academic activities. The "General Secretary" responsibility had put me in charge of the finances and administration of 30+ student run clubs and departments. On the job, I had to manage large groups of people and conduct events as businesses that would generate profits. The council meetings and general body meetings served as boardroom wars, helping me understand people and processes better.
The university operates two semesters and students travel home twice a year for vacations. Transit planning was traditionally outsourced to a third-party student, approved by the Institute and almost every student runs his travel requirement through this facility. In an effort to improve the transparency of financial transactions, I took it over and integrated with the activities of union council. Transiting 5000 students was no easy task and I had to group a team of 12 students to run this effort. The entire process embraced two important stages: One, having the desired train tickets reserved in accordance with the student requests and two, arranging buses to get to the nearest major railway station. Managing the information provided by students and minimizing discrepancies were the most demanding rudiments. The effort involved managing heavy finances and strategic relationships with Indian Railways and Roadways.
My enthusiastic attitude helped me build better relationships and the fact that I never hesitate to voice my opinion, served as the perfect supplement. I have eventually understood that leadership is the ability to break down complex problems into actionable fragments and drive the team by communicating the vision clearly. I have also understood that a leader must accurately define the roles and responsibilities of individual members in his team. Delegating responsibilities is important because it not only instigates involvement among the players, but also encourages their leadership capabilities and I view this as the success of the group on the long run.
I am sure that every MBA prospective student would have sweet leadership experiences. Never forget to highlight them on your application even you are not explicitly asked.
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