The Value Proposition of Enterprise Architecture

The value of a documented enterprise architecture (EA) is to move an organization from complicated and ossified to complex and adaptive. It allows an organization to:· Respond to, or, even better, anticipate changes in the environment (markets, economics, regulatory, labor, etc.),· Create new products and services that meet those environmental changes,· Develop the processes to support those changes, and· Build the information technology (IT) and data infrastructure to support those processes.It is the reverse of how many organizations operate today, with the data and IT infrastructure driving the processes, which, with some serendipity, may only adapt to past changes in the environment, and are usually implemented far too late for the organization to capitalize on the environmental changes. More likely, the changes are discordant with the environmental changes, and at best, waste money and time, and at worst, make the company less likely to stay ahead of its competitors, and ultimately, more likely to fail.What are the factors that comprise enterprise architecture? Over the last two decades, several models have evolved. John Zachman is generally credited as first addressing the need for EAs in 1987. The Zachman Framework provides a taxonomy for the artifacts that are needed to build the enterprise architecture by target audience (planners, owners, designers, builders, programmers, and users) and the issues that need to be addressed (data, business rules, governance, markets, etc.).Zachman's model influenced subsequent approaches to enterprise architecture. At a basic level, most of the models, or more precisely, meta-models, address the following components:· The environment: inputs, i.e., markets, economic factors, and regulatory constraints.· Business architecture: the organizational mission that responds to the environment, and the rules and processes for meeting that mission.· Information systems architecture: specifies the overall IT model that supports the business architecture.· Data architecture: supports the information systems architecture by defining the data required by the organization, the metadata that describes the data, the delivery and storage mechanisms, and analytics that evaluate the data.· Data delivery system or IT infrastructure: defines the software, hardware, and communications that implement the data architecture.· IT governance: assures that the investments in IT generate business value and mitigates the risks that are associated with IT.There are other methods for articulating an EA besides the Zachman Framework. These include the Department of Defense Architectural Framework (DoDAF), the Federal Enterprise Architecture Framework (FEAF), and The Open Group Architecture Framework (TOGAF), among them. How an organization decides to document its EA less important than simply doing it: as long as the selected methodology communicates effectively to the intended audience, it will work as a way to identify pain points in the organization, and allow for a way to design the changes to mitigate the problems the pain points create.


Recommendations and ConclusionArticulating an enterprise architecture for an organization moves this notional construct to a pragmatic one that addresses the specific needs and business model of the organization is not trivial. First and foremost, change must be driven from the highest levels of the organization: the chief executive officer, chief information officer, and company board of directors. Without support from the top, the effort is doomed to failure: entrenched interests that are anathema to the goals of an EA will work to sabotage it, the initial excitement will wear off, and the effort will wither, and the time and financial investment to develop the architecture can be discouraging. Further, many, if not most corporations, lack the expertise, time, and objective eye necessary to build an effective enterprise architecture. Bringing in outside expertise is often essential for success. Beside the technical and business knowledge required for building an enterprise architecture, experts can provide additional benefits:· Providing and implementing a process for developing the enterprise architecture;· Scaling the effort and developing an incremental approach to the enterprise architecture development;· Bringing an unbiased eye to the existing enterprise and making tough recommendations for change· Acting as a facilitator for managing competing interests in the development of the architecture;· Acting as a champion for the process and articulating the consequences of not moving forward;· Assisting the organization implement the enterprise architecture;· Helping document and write the extensive number of artifacts necessary for the organization's enterprise architecture.Without the effort to define an EA, businesses will continue to run the risk of increasing complication, ossifying their structure and inhibiting their ability to adapt to rapidly changing and hostile environments, with fickle and demanding consumers, aggressive and agile competitors, and constantly changing regulatory and financial environments. With an EA, a business can transform itself into a complex system, able to adapt its processes and systems to rapid and dramatic changes to its operating environment, and construct the tools to help anticipate and shape those changes to stay ahead of the competition.

Throw Away All Your Leadership Books

I hate to say it, but most business leadership books are absolute trash. Typically, they're oriented toward Fortune 500 companies and written by people who don't have a clue about how to lead one of the regular, everyday businesses that make up 99% of the business sphere. In this article, I'm going to tell you about the real secret of successful leadership -- what you should be doing if you want to be a leader in your field.Nowadays, it's the "in" thing to be a leader, and sure, there are certainly things you can identify with those who claim leadership. But you have to wonder: why are people always talking about how to be a leader? Why aren't they just out there leading by example, showing us instead of telling us?Some people seem to think that everybody is capable of being a leader, is a leader, or should be a leader. Well, here's a news flash: if everybody's a leader, then no one is. To be a leader, you need followers; and in any case, you can't have everybody occupying the same space in society. There's nothing wrong with being a leader, but you actually have to be out front to claim the title. You're never going to get anywhere if all you want to do is achieve income equality or a level playing field, which won't happen anyway. Utopian ideals don't mix well with business reality. If you want to distribute income and leadership equally, get out of business, because your competitors will eat you alive.There must be and will be a leader in every environment and situation. Even when people start out entirely even, someone will eventually take the lead. It's a natural law that some people will do better than others. Some will create wealth with the money they have, and leverage it into greater wealth. So what makes that person a leader? Well, a true leader is good at persuading people to do what they want them to do. They have something to say that makes people rally around them and give them their support, in the form of labor, social prestige, or money. This is true of secular, religious, and business leaders alike. Sometimes the leaders are benevolent; sometimes they're dictators.If nothing else, business leaders have to convince people that their products or services are good deals for them. They can successfully pitch their product to an audience and get those people to respond.The point is that when you think about leadership, don't think about some nondescript thing that people can't really quantify, and don't entertain any politically correct ideas about what qualifies someone to be a leader. You're a true leader only if you've learned to persuade people to follow you or to do what you want them to do. Jesus Christ was a true leader. Ronald Reagan was a true leader. So were Mao and even Hitler, though we don't like to bring him up in polite conversation. Some of these people were born with natural charisma; others developed it.It's your duty as a marketer to use your creativity, inventiveness, and skills like public speaking and writing copy to enhance your leadership skills, whether or not you're a natural leader. This results in increased sales and profit, because you can persuade people to buy what you're offering. Learn to be a good persuader, and you'll find yourself more successful than you'd be if you followed any of those leadership books. They're a dime a dozen. Forget them. There's no question that great salespeople, great marketers and good copywriters are great leaders, because we persuade people to take action and buy our products. In fact, most leadership is about selling -- even politics.


Back when Andrew Jackson was a general -- before he became president -- he had a great saying: "I lead, you follow, and everybody else gets the hell out of the way." You have to take the reins, because no one will just give them to you. But let's be real here; most people are letting the business reins flop around loose. Dive on them and take charge of your market, especially when no one else will. Become the very definition of leadership for your market, and keep pushing that leadership in everyone's faces.John Maxwell once defined leadership as influence, and I firmly believe that your ability to influence other people is what makes you a real leader. Lots of people think they're leaders, when no one is actually really following them. A specific position doesn't automatically translate into leadership. Leadership isn't a title, whether the title is CEO or President of the United States. Yes, people who serve under you may do what you say when you order them to, but if you're not a true leader they won't follow you when you turn your back, and they may find ways to sabotage you. If you're a true leader, then you're influencing people, providing real value in their lives You're singing the song they want to hear, and they want to follow your lead.Years ago I read another quote that went, "Good leaders are good followers." When I first read it, I thought it was nonsense. How could a good leader be a good follower? But in the years since, I've given that quote a lot of thought, and I've seen the wisdom in it. A good leader understands his followers very, very well. There's a push and pull there. Good leaders know how to admit when they're wrong; they go to their followers and work with them, listening to what they have to say. And it's doubly true today, as business leadership trends toward more of a one-to-one working relationship with the rank-and-file, where leadership supplies the vision and the rest of the team provides the strategy and execution. A good leader empowers his people.The reason I know that most leadership books are crap is that I bought too many back in the 1990s; leadership was a very popular subject then. In most of those books, it's difficult to pin down what the author is even getting at, because everything is so homogenized. Toss those books away -- or at least put them on the shelves to collect dust -- and remember that true leadership is based on your ability to influence and persuade other people. This is a learnable skill that you can develop over time.

How To Use Deadlines To Force Yourself to Become Wealthy

Two of entrepreneurship's worst enemies are procrastination and indecision. We human beings often spend too much time just dragging our heels. Many of us also have trouble making up our minds and sticking to our decisions.Marketers must learn how to make decisions with authority, and stop procrastinating in its tracks. One great way to do that is to force yourself to make decisions and get things done. When I'm working on a project, I'm always aware of that deadline or timeline -- even when I'm working on other things. Those deadlines help me commit to doing the one thing that most people won't or can't do, and that's to make the decision to get to work. We should make promises to our customers, especially our best and regular customers, that we're going to do this or that for them by a specific date, so we can force ourselves to do it -- to plan how much to do each day, and to stick to it. Never underestimate the lack of progress suffered by a person who isn't making decisions, or who's just procrastinating their life away.As a deadline draws near, we feel forced to do something, because we've made a commitment that we would do it. We should always make that commitment to ourselves first, but we can (and should) also make it to our clients. That keeps our feet to the fire -- and the answers will often come as the deadline comes closer, because when you really, really have to get something done, it's amazing how those ideas will arise full-blown from your subconscious mind. It works like a miracle sometimes -- but it's really not a miracle at all. That it occurs at all means you've finally concentrated fully on the topic.No one likes deadlines, but it's very much to your detriment to avoid them, because they really do force you to get stuff done. Setting deadlines is a powerful incentive, especially for someone who's not used to getting things done on time. You make the commitment that you will get it done on time or earlier, first to yourself and then to everyone else related to the deadline. When you do that, positive, profitable things will start to happen in your business.I think that the negatives surrounding deadlines make many people avoid them. We're afraid of the commitment a deadline requires, so we do everything we can to avoid the pressure that comes with setting one. You always can lie to yourself and set a fake deadline in your own mind; it's easy to break, because there's no commitment level there. For example, you might say, "I want to lose 20 pounds by this date," or "I would like to make this much money by this day," or "I would like to save this much or pay off this bill by November 1." Those silent commitments are like the New Year's resolution you make annually. If no one else knows you've made it, how hard is it to break? Not very, because no one's going to be there saying, "I thought you wanted or needed to do this by now."On the other hand, a deadline made to a client is chiseled in stone. You have commitments that must be fulfilled. Sometimes you can get away with extending a deadline or telling a client a project won't be finished on time; those things can and do happen. But they should be rare. A deadline you make to a client via a promise of delivery will push you towards fulfilling that promise, because you have the pressure of an order that's unfulfilled until you can deliver on it.


One of the deadline incentive strategies I've used many times is the prepublication sale, where I write a sales letter in which I tell your customers that I'm making this offer to them now at a special price because the project isn't done yet. Maybe it's a book I'm writing, or an audio program I'm producing. I deal a lot in the information publishing world, so I do a lot with paper and audio both.If you sell it before you've produced it, you make a commitment to the client that forces you to finish it. You describe it in detail, tell them what it's going to be and do, and the solutions they'll receive when they buy, so they'll look forward to it. From that point on, you have orders coming in. People pay for the product, expecting delivery by a specific date -- and that sets the process in motion.As you approach that deadline, the pressure mounts, forcing you into action. This is a good thing. Some people think that pressure and deadlines are all negatives; and admittedly, no one really likes the pressure of a tight deadline. But it forces you to act. So don't view deadlines negatively. See them as opportunities to spur yourself on, to get projects done in a timely way. That, in turn, translates into more profits.Like many people, I have a problem with procrastination. I've got all these projects I'm working on, and I get behind on all of them -- and that creates a tremendous inner turmoil. A lot of it is work that I don't enjoy doing, which is why I put it off. So I practice an absurdly simple technique to overcome my procrastination: I promise myself to devote a few minutes to each project. If, after a few minutes, I want to stop, then I stop. But most of the time, I've gotten into the project by then, and I'm able to keep going for half an hour or longer. It all starts when I tell myself that all I need to do is stick with it for just a little while.You see, getting started is the hardest part. If I can commit to just a few minutes, then in nearly every case I end up spending at least 10-20 minutes on it instead of the 3-5 minutes I committed to. It chips away at the stone, breaking off a little piece at a time -- and ultimately I end up with a sculpture. I try to follow this plan every single day, seven days a week. Eventually, I complete the project, and it feels wonderful to finally get something done.I want to avoid that terrible feeling of not accomplishing anything, so I keep chipping away at that stone every day. You should do the same.

Why Use a Strategy Map?

A good strategy map should communicate everything a company is striving to achieve on a single page. Think about it, if your company is made up of only five people or is an enterprise of 5,000 people first and foremost you want them to know exactly what the company is about and what it is trying to achieve. What is more, your employees want to know that your company has ambition and plans and will be around for the long haul. They want to be sure that the leaders know what they are doing and are in control. They want to work in a winning environment and want to know their jobs are secure. One of the most powerful tools you have in your armoury is a strategy map (that and consistently winning profitable business, the two are inextricably linked).There are many views as to what a good strategy map should look like and what form it should take. Tesco for instance, has developed a strategy map in the form of a circle which is centred on their 'Every little helps' slogan and the two company principles 'no-one tries harder for customers' and 'treat people how we like to be treated'. Tesco, of course, has the resources to not only spend time on developing their strategy but also developing an innovative presentation method, the latter is something that many companies cannot afford to do. There are however, several industry standard templates that can be used, not least of which is the Kaplan/Norton Balanced Scorecard approach.


To make the most of a Strategy Map we would suggest one or two additions to the basic template. The basic balanced scorecard template focuses on four areas of business referred to as 'perspectives' these are: 1. The Financial Perspective, 2. The Customer Perspective, 3. The Internal Processes Perspective, 4. The Learning and Growth Perspective. In addition to these four perspectives there are three things that need to be highlighted, these are: 1. A company Vision statement, 2. A company Mission statement and 3. A company Core Values statement. It is true that these statements could be included within the four perspectives, but given their importance in their own right, they should be given the right level of prominence in a strategy map.There is an argument that there is a fourth element of the strategy that should be highlighted, that of the Customer Value Proposition, on balance this statement should fit easily within the customer perspective and is part of the company mission statement so the need to specifically highlight it is not imperative. Using the above template, any company large or small should be able to describe what they are in business for and what they intend to achieve.

Things To Keep In Mind When Planning For An Event

Event planning can be an exciting experience. Whether it just a small backyard party, a business related event or a big entertaining musical festival, careful planning and preparation is essential to make it successful.Tips in finding the best event plannerIt is best to look for someone who is experienced in the type of event you are planning. Check with the local convention those holding strong reputation among the community of event planners. Choose to meet your top three choices. You would know that they are good planners if they will ask you questions about your organization, learn about your objectives, and take time to know more about your particular event and come up with ideas that fits your situation.Before you decide to hire outside vendors or resources, here are key details you need to take note first.Date and Time Frame - This would be the basis of all your planning. Decide on three potential dates, in different days of the week to allow flexibility. Then be specific about your anticipated time frames. Every hour counts and may affect your allocated budget. Timing is crucial throughout your event.Attendance projections - Be realistic on this. Decide at once whom to invite and list them down. Never guess about the number of people you think will attend.Lodging and transportation - Check your attendance data and see if you need to reserve on lodging and transportation needs.


Outline your marketing plan - How will you reach and engage your revenue generators? What about sponsors and exhibitors? Keep in mind that marketing campaigns can be costly.Project budget and costs - Doing this will provide you a benchmark which can be helpful when receiving proposals from prospected vendors. Revenues will ultimately dictate your budget.Venue - Define how much space you need. You may only need a little room for your guests or a large open space to accommodate those who are coming. Remember that when holding events in ground areas, it also your responsibility to protect whatever is underneath it. Setting up equipment can damage the ground thus covering is necessary for protection. There are many ground protection matting options you can choose from.Reasons why ground protection matting is importantShield the ground and protect the equipment and other things resting on top of it.For safety reasons - It prevents any untoward incident because there are non-slip and fire-proof materials that can avert injuries and harm to the audience.Provide support - not all surfaces are made to endure heavy weights. Heavy duty turf protection products can support roadways for cars or strips for airplanes. Check this site for a wide range of turf protection products.

You Don't Have to Do It Alone

I used to think that I could do it all on my own. I tried for years in fact, yet I remained stuck at the same point in my business no matter what I did. It was really puzzling to me when I started my service based business because it wasn't like this was my first business and it wasn't like I did not know what I was doing.Quite the contrary in fact, I was damn good at what I did, I could see things that others just could not see, I could see the vision, hold the vision, and then use the right strategies to follow through and make the business a success and change 100's of lives in the process. This was no new feat to me, I had done it with my plus size lingerie business that I ran from a spare bedroom in my home more than 7 years ago.I like you started a business because I wanted freedom, I wanted to be able to do what I wanted to do, when I wanted to do it and make a darn good living in the process. So I was really puzzled, why I was able to create something from nothing, and turn it into a multi 6 figure business in less then 6 months selling lingerie online from my spare bedroom yet when it came to selling my services, ahum, not so much. It wasn't easy, in fact, it challenged me in many ways, because although I did not know it at the time, it was in fact, very different. I was no longer selling a piece of lingerie, or a security camera or shoes, (just some of the other business I have created and sold over the years) I was actually selling me. The ironic thing was that I only ventured into this arena of selling my services based on my past successes of creating businesses of my own and others and decided I really love helping people create freedom and cash and I love business, and I had been helping other entrepreneurs for free, giving away my gifts, I might as well get paid for it.


I decided to sell my the other businesses I created and I hung my shingle out, so to speak yet I stayed stuck at the $20k mark in my business for more than 4 years, that was until I finally decided to get some damn help and realized, wait a minute, I don't need to do this on my own. You see what was standing in my way of my success was me, I couldn't see it though because I was "so smart" I helped 100's of people create business, leverage businesses using the latest and greatest internet marketing tools, you'd be surprised, these are big name marketers, I know, I was on their team, they are making millions of dollars yet, here I was making a measly $20k a year, I mean seriously I could do that in a month in the lingerie business selling an average order of $75.Here's what I realized though, it really wasn't the same thing and just because I actually knew how to do it did not mean I was getting the result. The cool and not so cool part was that I was the only one standing in the way. Once I hired my first 6 figure coach, let me tell you that sure lit a fire under my butt, I stepped outside of comfort zone in many ways.Within in several weeks I had my first 5 figure month and although, I learned lots of lessons doing things the hard way, as in not listening to my inner guidance through the experience I sure did learn a heck of a lot, which makes me even better at the work I do with my clients. Oh, and the best part is that I know what not to do and I can teach my clients the same thing. It's always about being a guide for my clients, to what is right for them, not what is right for me.

Critical Success Factors In Enterprise Resource Planning (ERP) Implementations

Critical success factors (CSF) that have been identified in the literature also are part of the Agile landscape, yet the literature does not call out any Agile methodology as an approach to promoting ERP success. Agile approaches may be well suited for ERP implementation, by leveraging the power of self-organizing teams, effective backlog management, the discipline of delivering functionality in rapid "sprint" cycles, effective metrics and feedback mechanisms.ERP system implementation is generally an expensive, complex, and risky process for organizations. The software replaces the departmental information technology (IT) systems and process silos in an organization with a single enterprise application that integrates data into a single database and standardizes processes to allow for information sharing and automated communication with relying on a "sneakernet" data mobility paradigm. Because an ERP system changes everything about a business and breaks down the information and process stovepipes, the systems tend to be both complex in their configuration and disruptive to the people that will use the system. As a result, the opportunities for setbacks in the implementation process, or even outright failure, have been shown to be extremely high.There are clear consistencies in the CSFs that lead to successful ERP implementations, which are characterized by fulfillment of the objectives in correct and complete form, at minimum cost, time, and human resources, and produce the expected and planned benefits for the enterprise so it can develop the competitive advantages envisioned by management. Some of these CSFs include:• Top management support
• Business process-reengineering
• Project management
• Project champion
• End users involvement
• Training and support for users
• Having external consultants
• Change management plan
• ERP system selection
• Vision statement and adequate business plan
• Facilitation of changes in the organizational structure in the "legacy systems" and in the IT infrastructure
• Open communications
• Teamwork composition for the ERP project
• Tests and problem solutionsAutocratic, reactive, "big bang" approach was most fraught with risk and likely to fail whereas more bureaucratized, incremental ERP implementations were lower risk and more likely to succeed. I propose ERP implementation framework that encourages preplanning and strategic direction with full management support and preparation of the staff, (pre-implementation and training), excellent project management, communication, best-fit ERP selection, and performance metrics (implementation), and finally, auditing, benchmarking, and documenting the process against the actual performance (post-implementation).


I recommend an Agile approach to ERP projects, where a backlog of features are implemented in time-boxed sprints, with incremental functionality delivered on a steady schedule, such as every thirty days. Their preference for incrementalism could also support a Spiral approach to an ERP project. Both Agile and spiral depend not only on incrementalism, but also a prioritization of working deliverables to end users. These deliverables don't have to be software; they can also include such items as new process maps (BPR), training, and change management programs, all of which are discussed as significant CSFs and principles of preparedness.Self-organization of teams, or emergence, an important feature of Agile methods, can work well with CSFs. A characteristic of this approach is the teams become adaptive systems, so they are able to rapidly solve problems as they arise with limited input from a project manager. In fact, I posit this approach would increase the opportunity for the CSF buy-in from the organization, as it invests everybody that is affected by the ERP and resultant process overhaul in the effort and its ultimate success. They also provide an opportunity for teams to manage and mitigate risk through preparedness strategies.
ConclusionsGiven the complexity of ERP implementations, success is not a guaranteed outcome. An extensive amount of research into this area has found a combination of CSFs and preparedness strategies that can improve the odds of project success with budget and schedule, with the desired process, cost, and competitive improvements realized for the organization. The evidence shows that an incremental approach to an ERP implementation is the most likely to succeed, which provides the best opportunity for implementing both the CSFs and the preparedness strategies. The incrementalism can be implemented using either a spiral development approach, or an Agile approach, the latter of which also leverages a self-organization model. The model is most likely to engage more people from the organization in the implementation process, increasing everybody's personal stake in the effort's success.

The Prisoner's Dilemma and Competitive Strategy

The Prisoner's Dilemma is a concept from the field of Game Theory, or the study of strategic decision making. It shows that individuals (and companies) are likely not to cooperate, even if it is in their best interest to do so.The scenario is as follows:Two criminals are arrested, but police can't convict either on the primary charge, so they plan to sentence them each to 5 years in jail on a lesser charge. Each of the prisoners, who can't communicate with each other, is given the option of testifying against their partner. If they confess, and their partner denies, the partner gets 20 years and they go free. If they both confess, both get 10 years. If they both deny, they each get 5 years.They each consider their options, and knowing that they have no control over what the other is going to do, they reason that they are better off confessing regardless of what their partner does. If they choose to deny, they are at the mercy of their partner, and they are not willing to be in that position.Obviously, if the suspects had the opportunity to discuss their options with each other, they would have decided on mutual denial and shared the 5 year sentence. However, since they are shut off from each other, as companies are when making simultaneous commercial decisions, they each end up acting selfishly by confessing and accepting the 10 year sentence.Many situations in life mirror this behavior. Athletes deciding whether or not to use performance enhancing drugs to gain a potential advantage over their competitor or political parties arguing over taxation versus spending are examples. In sports, the perceived advantage is negated when the competitor also decides to cheat, and now the personal health of both has been compromised as a result. In politics, we find ourselves in a stalemate, with high spending and low taxes keeping us in a fiscal imbalance, and we are all feeling the results of that!


So how is YOUR Company being affected by the Prisoner's Dilemma concept? If you are a manufacturer or distributor of a commodity product, your advertising and promotional strategies are largely dependent on what your competition is doing in these areas. Using advertising as the example, neither the total market size nor sales to the total market will increase as a result of your efforts. That is, if you make and sell toothpaste, people will not brush their teeth more if you advertise your product. What you stand to gain is more market share, but it will be at a cost.If neither you nor your competition are advertising your respective products, you will keep your market share and be more profitable because there are no advertising costs. However, the reality is that you all made the decision to advertise, as it is a dominant strategy. If all of the advertisements are equally effective, then your market share has not improved but your costs have gone up. What have you gained?The key to increasing market share through advertising, then, is to make sure your advertising strategy is MORE effective than your competition's.

Do You Ever Have Time to Think About Your Business?

Running a business is one of the most demanding & fulfilling things you can do. I once asked somebody at a networking event, "How's business?" and received a very long answer, but at the end of the conversation, he said:When you are in business there is always too much to do. When you have plenty of work, you are busy getting it done and pleasing the customer. When you don't have enough orders, you have to scratch around to find more.Sometimes, I wish I could just put things on pause and sit down and think about where the business is going and how we can get things done more quickly.He was right to want some thinking time. The evidence is all around us that businesses that take the time to think about where they are going and how they are doing things always do better than businesses that "just keep their heads down".This is because the rewards from a little bit of thinking and planning are out of all proportion to the time that you spend. It is also a fact that the changes that you make will benefit your business week after week for years to come. Most people in business understand that but still don't take the time to put it into action. Why is that?The mistake that most people make is to imagine that thinking time means taking days, weeks or months out of the business. It doesn't!The most important thing you can do for your business is to set aside some time, just as you would for any other task in your business. My top 10 tips for building thinking time into your busy working week are:




Decide how much time you need to start. It doesn't matter if it is 5 minutes a day or 20 minutes on Friday, just start somewhere. (If you can't provide a little bit of time a week, you probably shouldn't be running a business).

Decide where you will spend this time. You might do it in a coffee bar, at home or at your workplace. Generally, it is best to do it where you will not be distracted by immediate problems.

Put a slot in your diary and keep the appointment with yourself.

Relax and just think about the future of the business, the way you are doing things and the changes that you could make.

Take notes in whatever form suits you; paper, electronic or audio.

At the end of your session, make a note about whether you found it useful and what you can do next time.

Book the next session in your diary.

Reflect on the points you noted for at least 24 hours

Make a list of things that you can implement now or need to think about in the future.

Take action on some items to ensure that you start reaping some of the benefits and encourage yourself to take further action
Start today!

Is Your Business Working for You? Or Are You Working for Your Business?

The excitement is building in our home this week as my 5 year will be celebrating his 6th birthday on Thursday, wow, time sure does fly when you are having fun!It got me thinking about how having a lifestyle business has been such a blessing, I get to see my son off to school every day and pick him up from school when he's done, we already started applying to some great private schools for next year.Its such a fun and exciting time and it really makes me appreciate having a lifestyle business that allows me to spend this time with my kids and family while serving my clients in an authentic and fun way to do the same thing in their life and business. It truly is freedom on my own terms and its because my business is working for me.So, this week, I have a question for you, Is your business working for YOU? or are you working for your business?Before you answer that question, answer these questions:- Are you are earning a good living?- Are you are doing what you love to do?- Do you have a lifestyle business that allows you to do the things (outside of work) you enjoy doing?- Are you making an impact with your message?This is a good starting place, there are many other questions you could ask yourself depending on what it is you are trying to create.If you answered no to any of the above questions, don't worry, I'd like to share some quick strategies to help you fix it.The first step to "fixing" what ever is not working for you is to make the decision that you are going to change it. This means you need to be willing to step outside of your comfort zone because the truth is, that's the only way to get different results.


Next, you need to commit to the decision, 100% decide that you are willing to do what it takes to change it and be committed to your own success. Commit to learning a new way.Next, you need to throw perfectionism out the window. Don't get me wrong, there is a time and place for details and for things being "perfect" but, if you want to succeed as a business owner you need to get rid of the perfectionism energy because it keeps you stuck.The second step is to look at your business model, ie, how you are bringing money into your business, is it one on one, is it leveraged, is passive? Next, look at what you are charging; is it inline with the lifestyle you want to create? Or do you need to uplevel your pricing?Now, I am not saying just go ahead and double prices, I know a lot of people talk about raising prices and doubling what you are charging now, here's the thing though, you need to look at value and you need to look a t packaging your offerings for your ideal client.This is where clarity comes in, with who your ideal client is, what problem you are helping them to solve, etc, If you truly want to have a lifestyle business and have your business work for you, instead of you for your business, its best to have a combination of revenue streams in your business that allow you to bring in consistent income without chewing up all your time.It also helps to learn how to leverage technology and the Internet to reach more people so that you have a bigger impact. And of course, my favorite, you have to systems in place in your business. The truth is systems equal freedom in any business and if you want to have a lifestyle business, you MUST have systems in place in your business.

Financial Evaluation of Capital Projects

When considering whether to undertake a large capital expenditure for your plant, whether it is an onsite power generation system or a renewable energy installation, you no doubt will perform an economic valuation to justify the expenditure.There are several methods of performing these evaluations. Each has its pros and cons and each has its proponents and critics. I will not attempt to detail how to perform these evaluations, since whole textbooks are written on the subject. I will only point out a few key ideas that will hopefully stimulate some further research on your part.There are several methods of such analysis that are currently popular. I will focus on the two methods which are more commonly used. These are:
• Simple payback analysis
• Discounted cash flow analysisThe simple payback calculation is probably the most commonly used because it is, well, simple. It is easy to calculate and easy to understand. The simple payback is the period of time it takes to recover the original investment in the project. For instance, if the project is a cogeneration & onsite power production system, the simple payback is calculated by taking the total estimated cost of the project and dividing that number by the expected annual net returns from the steam and onsite power production. Some companies will have investment "rules of thumb". An example is that a simple payback for an auxiliary power system of two years or less gets funded. A three year payback is questionable, and anything beyond is probably not going to happen.A simple payback calculation can be useful as a screening tool. It can weed out the obvious. If you have a group of 2, 3 and 4 year payback onsite power generation projects under consideration, it makes little sense to even consider further development of a 12 year payback project. However, simple payback does nothing to answer the question, "Do any of these projects make economic sense at all?"


The discounted cash flow method uses the time value of money to compare alternatives to the investment. It can answer questions such as, "Is it better to invest in a cogeneration & onsite power production system, or put the same money into a bank savings account?" Or, "Which is better, invest in an onsite power generation system, or put the money toward buying another business?"The discounted cash flow method incorporates the time value of money in its calculations to develop metrics such as net present value and internal rate of return. These metrics give you an idea of what the expected return of the project is in relation to alternative uses for the money. I have seen extreme cases where a project was thought to be a great project because it had a simple payback of 2 or 3 years. Discounted cashflow analysis could show, however, that it does not meet the internal rate of return test, and, therefore, should not be done at all. Simple payback analysis alone will not reveal this fact.There are times when emotion is used as a justification to green-light a project. In other words, "I am going to do this project because I just want to do it." If all the facts are known and properly disclosed, I have no problem with that. And at times, there can be regulatory or safety/environmental reasons to do a project. No problem there, either. However, if the intent is to fund discretionary projects, such as an onsite cogeneration system, it should be based on a true economic analysis. One should then use discounted cash flow analysis or one of its variants for the best financial results.