How to exit

July 23rd, 2006 by Rolf Erikson

Why is it so difficult to divest a business at the right time or to exit a failing project and redirect corporate resources? That question is asked in McKinsey Quarterly

Many factors play a role, from the fact that managers who shepherd an exit often must eliminate their own jobs to the costs that companies incur for layoffs, worker buyouts, and accelerated depreciation. Yet a primary reason is the psychological biases that affect human decision making and lead executives astray when they confront an unsuccessful enterprise or initiative. Such biases routinely cause companies to ignore danger signs, to refrain from adjusting goals in the face of new information, and to throw good money after bad.

The decision-making process for exiting a project, business, or industry has three steps. First, a well-run company routinely assesses whether its products, internal projects, and business units are meeting expectations. If they aren’t, the second step is the difficult decision about whether to shut them down or divest if they can’t be improved. Finally, executives tackle the nitty-gritty details of exiting.

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Personal Growth

July 23rd, 2006 by Rolf Erikson

Steve Pavlina got this question,
There are so many areas I feel I need to work on in terms of my personal growth that I don’t know where to begin. When I look at all the articles you’ve written as well as all the books, CDs, and seminars out there, it’s overwhelming. Where do I even begin?

Steve gives an interesting answer,

If you’d asked me this question in 2004, I’d have recommended you begin with goal setting, organizing, and time management.

If you’d asked me this question in 2005, I’d have recommended you begin with discovering your purpose.

If you ask me this question today, I’ll recommend you ask me in 2007.

Steve gives us four methods to follow,

Method 1: Start with your weakest area (works well for all experience levels)

Method 2: Start with your physical body (is great for beginners)

Method 3: Use your intuition

Method 4: Face your fears

Read the whole story! I myself also think that thinking about what´s really gives you pleasure in life can be a good start.

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