Showing posts with label Long-Term Thinking. Show all posts
Showing posts with label Long-Term Thinking. Show all posts

Thursday, January 28, 2021

3 “Wisdom” to have a “Big Say” in life!

Photo by Tingey Injury Law Firm on Unsplash

Dear Readers,

Thank you for coming here!


How to have a “Big Say” in life and achieve success and happiness?

We need “Wisdom”. The world is too complex and uncertain, we need “Wisdom” to guild us.

How much “Wisdom” one possesses could be the factor to set people apart.

In life, we need 3 “Wisdom”: The “Wisdom” to choose, stick to our choice and game with the world.


Photo by Javier Allegue Barros on Unsplash

1.The Wisdom to Choose

Life is full of choices and we define our lives with the choices we make.

Should I start my own business or live a corporate life?

Should I choose City A or B?

Should I marry Ruby or Debby?

Should I eat Nasi Lemak or Kway Chap for lunch?

Fortunately and Unfortunately, there are only a few critical choices we get to make in our lives.

However, many of us do not (want to) know we have choices and do not have the courage to choose.

Why do many of us not know the choices we have?

If you are reading this, you are living in a time of peace and abundance. You have the right to choose, which is the freedom people in history crave for.

Think about Frank.V.E., the author of “Man’s Search for Meaning”. He lived in desperate conditions, saw his peers disappearing day by day and chose to have hope and dignity while waiting for his turn. 

He kept the “last freedom” mankind can have: the freedom to choose attitude.

Compared to him, we have the freedom to choose. No matter our choices, the chances of us ending up in his situation is almost non-existent.

The only problem is whether we realize it or rather whether we want to realize it.

Are we just repeating our lives every day, knowing that we are not as happy as we can be but keeping telling ourselves that we do not have a choice, because of kids, housing loans etc etc

Do we really not know that we have a choice to change or do we just not want to know?

Why do many of us not have the courage to choose?

Even through we realize the choices we have, many of us still dare not to make the call.

Because choosing one means giving up the other.

Starting your own business is exciting and fulfilling, but it is also hard work with too many uncertainties.

Going into corporate is stable with good benefits, but it is also boring and dull.

So how?

Do not escape from it and do not be too greedy.

Escaping from it usually leads to the worst decision in the last minute because we either choose in the moment of stress or someone else will choose for us.

Being too greedy is no better.

You could list out all the qualities for your future soul mate. Then you list out all the possible candidates and evaluate them with different models, and then tell the “lucky girl” that she is the one.

She could tell you “Sorry, you are not my type” or even worse “While you are busy with the evaluation, I got married.”

Maybe we should learn to accept “slightly better than average” results. It will subject us to so much less trouble and pain.

Also, we need to realize “slight better than average” is not bad at all and should be appreciated.

Therefore, make the call and then enjoy the benefits or bear the consequences. 

Always remember: How bad could it be?

Photo by Patrick Tomasso on Unsplash

2.The Wisdom to Stick to Our Choice

To stick to our choice, first we need to stop ourselves from revisiting the choice we have made more than necessary.

Do not look back. Once the choice is made, focus on making it right.

The only time to revisit and make adjustment is when critical new information and development become known. 

However, we need to be clear about the core logic behind the decision and stick to it.

The second thing we need to be aware of is distraction.

There are so many nowadays. They can come to us disguised as opportunities, wealth, love etc etc

The right way to counter it is a phase I have used probably too much — “Long-Term”.

Jeff Bezos pushed his “Flywheel” for 20 years and became the richest person in the world, because “It’s All About Long-Term”.

He had countless opportunities to raise the profit margin of Amazon and push the stocks higher. But he did not to stick to the Long-Term.

Probably, shareholders have doubted him or even blamed him.

Maybe, he never thought of giving this up, because all he cares is Long-Term.

Make the choice and give it time by sticking to it.

Photo by Zoe Holling on Unsplash

3.The Wisdom to game with the world

The world is full of competitions in all aspects.

It is an elegant technique to achieve what we want in the interactions with others, e.g. negotiations.

We need to “Game” with the world, as in “Game Theory”. 

And remember, most of the time, we are not playing one-time games.

So how to game?

One mindset and one tactic.

Mindset : Win-Win & Gratitude

Always try to achieve Win-Win. This is the only way to maintain a healthy long-term working relationship.

As a consultant, say no when you know you cannot solve the clients’ problem.

In a project, lower your margin to allow some margin for the other party too.

Gratitude is not only the right thing to do, but also a necessary condition to attract partners.

Will you work with someone who has the reputation of being ungrateful? 

Even if you do, it is only for the moment. Once the short-term goal is achieved, you are gone. 

And you know during the short cooperation, you need to constantly keep an eye on the other party.

Win-win and gratitude do not guarantee the maximized benefits for us now, but for the Long-Term.

Tactic: Repeat the last choice of your opponent

In a repeated game, repeat the last choice of your opponent gives the best results, by computer simulation.

Always being a nice guy will attract bullies; Always being a bully will repel others.

“Blood for blood” is a protection to ourselves.


Photo by Kelly Sikkema on Unsplash

In summary, make your choice decisively, stick to it for the Long-Term and repeatedly game with world, until you achieve your goals.

This is what sets people apart!

This is how to have a “Big Say” in our lives!


Till next time!

Friday, January 8, 2021

The One Definition to Elevate Your "Strategy" For Success

Photo by Isaac Smith on Unsplash

Dear Readers,

Thank you for coming here!


What is a Strategy, really?

As someone who has been doing strategy, it has actually never been clear to me what a strategy really is.

As a strategy consultant, strategy is more of a job. 

There is a structured methodology to generate strategies. Based on extensive internal and external researches and analysis, a “vision” is generated and then it is broken down into actionable initiatives with “clear” milestones, timelines and persons in charge. 

The approach is logically sound and convincing for the clients. 

However, to most consultants (like me), it is hard to really make sense of the strategy intuitively. I know how it is logically generated, however, I could not picture and comprehend how it is really like when it is executed and achieved.

It is like a freshly graduated military commander trying to prepare his army for battle. 

He can read the map, just as he was taught, but he cannot actually see the landscape, the mountains and rivers etc.

He knows where he should place his troopers, but he can not really picture how the battle will play out and exactly when he should send in his reserves to deliver the final blow.

Without the extensive experience in leading an organization to achieve a brilliant strategy, it is just too complex for me to comprehend intuitively.

I envy my Partners. They really seem to have the concrete picture on how each phrase will play out and what the contingencies will be if any of them does not.

For me, I always lacked a bit of confidence for strategy engagements and tried to avoid them if I can.

And I thought to myself that I should just settle for providing inputs for my Partners who have the required experiences to make sense of it and ultimately convince the client CEOs.

By the way, if you have a strategy job in corporate, it could be even worse. You could seldom do strategy work. Instead, most of your time is spent on following processes and making compromises.

So I was ready to stay away from “real” strategy until I was ready.

Photo by Aline de Nadai on Unsplash

Last week, I read about a definition of strategy that immediately resonated with me and helped me picture the path ahead.

Strategy = Clear Goal + Specific Point for Optimization

1.Clear Goal

Most corporations can do this well now.

A simple SMART tool can go a long way.

S: Specific

M: Measurable

A: Achievable

R: Relevant

T: Time-bounded

2.Specific Point for Optimization

Now this is the key part.

After having a goal, our automatic reaction is to break down the goal into actionable initiatives and then assign them to different departments or teams.

Manufacturing needs to increase the throughput by 20% and reduce defects by 50%.

Procurement needs to achieve xx Million savings and achieve 99% OTIF (on time in full) delivery.

Human resources needs to hold x career talks and recruitment drives covering x top schools and recruit xx management trainees.

… …

Most of the time, the end goal is lost in the process of people rushing for goals of each department.

This is called “doing what you can”.

This is opposite to identifying the “Specific Point for Optimization”.

We all realize the fact that we are always subject to resource constraints.

To achieve the best impact, we need to focus the resources on the “Specific Point for Optimization”.

Therefore to find that point is critical. 

“Doing what you can” as above, we are completely giving up looking for that point, which is the lazy and probably the worst approach.

Photo by Tim Mossholder on Unsplash

So what is that “Specific Point for Optimization” and how to find it?

The “point” need to satisfy below 2 requirements:

1.It is something we can actually improve given the current resources

Trying to improve government efficiency or push the economic development to the next level will be a long shot and we can have very little impact on it if any with the resources available.

However, studying the top performers in the current political and economic situations and adopt their best practices is something we could do well with the available resources in a relatively short period of time.

Constraints are a reality that we need to accept as the pre-fixed condition. So focus your resources on what you can change.

2.It is something doing which will create a positive flywheel

Once the “Point” is moved, many positive things will follow.

For example, Amazon’s point is “improving customer experiences”. So all their efforts are centered around it, which created the flywheel.

Better customer experiences -> more customers -> more vendors -> more products and better prices -> better customer experiences.

If they also focused on bringing in vendors, that would be “doing what you can”.

So how to find the “Point”?

Unfortunately and fortunately, we may need to try multiple times. Yes, “trial and error” might be the only way.

However, once we find it, it will all be worth it!

It will not only make successful corporations, but also successful lives.

For example, if you want to improve your son’s math grades, the point could be to prepare a collection of “wrong questions” and make sure he sticks to it: collect all the questions he did wrong and re-do them after the exams.

If you also focus on getting him more exercises, making him eat more and sleep more or getting him extra tuition, that would be “dong what you can”. And this approach will most probably harm your relationship with your son, which is more valuable.

The critical component for a strategy is really to identify the “Specific Point for Optimization” and stick to it.

Photo by Stéphan Valentin on Unsplash

Of course, the risk of sticking to the wrong “Specific Point for Optimization” always exist.

For example, USA tried to ban alcohol only to make the black market flourish. 

The goal was clear for sure. But “Specific Point for Optimization” was wrong.

They tried to destroy the black markets and secret societies. However, destroying one would lead to two more in the face of the vastly profitable business which was becoming even more profitable.

The “Point” here could be to change of the perception of society: drinkers are not “Cool” but “Losers”. 

Fortunately, if we keep a clear logic, it wont be hard to find out when the “Point” is wrong!

Photo by Photoholgic on Unsplash

Recalling some of the strategies we did for our clients, some of them included more than a dozen “strategic” initiatives. 

Sometimes, we even purposely increased the number just to make sure every department had their share.

No wonder I could not picture the way forward. How could I? Any of the initiatives could go side ways.

And I recall that my Partners almost never explained all the initiatives during the presentation. 

They focused on a selected few, which they really elaborate to convince the CEOs. 

And for the rest, they simply used something like “Of course, we need the help from every department”.

Maybe it is just a way for stakeholder management so that all the VPs present do not feel left out.

Maybe the partners and the CEOs somehow reached the common understanding what that “Point” would be.

Maybe that is the key in being a good strategy consultant! Funny that I never realized this as a consultant!

Photo by Javier Allegue Barros on Unsplash

Putting the past aside, what we could learn from this definition is to really take the time to identify the “Specific Point for Optimization” and stick to it.

This is really how “Long-Term” thinking can work to its best!


Till next time!