Steven Cox - Founder of TakeLessons. Build Something You're Proud Of

Ho ho ho

Beware Headbangers - your neck may be at risk

HEADBANGERS TOLD: WEAR A NECK BRACE OR RISK SERIOUS INJURY

Medical experts in Australia have warned that headbanging is likely to be behind a silent epidemic of head- and neck-related
injuries. Dr. Andrew McIntosh, biomedical and injury expert at the University Of New South Wales, carried out research into
headbanging, and published his findings in the British Medical Journal.

http://music.yahoo.com/read/news/61930005

The Purpose of Strategy

I am reading a quick note from Phil Rosenzweig, Wharton and Harvard guy:

"High performance comes from doing things better than rivals, which means that entrepreneurs have to take risks. Decisions must be made where there isn't 100% accuracy. Thus, strategy involves making decisions under uncertainty.

The goal of strategic analysis should therefore be one of gathering accurate information and subjecting it to careful scrutiny, not in the false hope of guaranteeing success, but in order to improve the odds of success. Wise managers know that business is about finding ways to improve the odds of success—but never imagine that it is a certainty."

This is similar to a book that I am reading on equity market timing (called Trend Following). The essence of Trend Following is that you are simply using momentum and price action as a means to give a slight edge in statistical probability that you are choosing correctly. In fact, you expect to lose 60-70% of the time. But you cut your losses early and let the winners run. Those winners produce enough profit to overcome the losers.

In business process, it is called "Seed, Select, Amplify".

Plant a lot of idea seeds. See which ones start to grow. Select them, and Amplify the amount of sun, water, food you give them.

Thus since high performance is dependent on the decision making process, it is important that the process is learned and taught at all levels of the company. In fact, there is not a direct correlation between the actions of the decision and the outcome. Sometimes, due to events not within our control, those actions do not lead to the most favorable outcomes. It becomes important that the company applaud those that work through the decision-making risk assessment with strategic clarity.

No matter what the outcome, executive should be asking: Were the full range of options identified, or were some overlooked? Did we gather the right information or had some important data been overlooked? Did we make our calculations accurately, or were some in error? Did we properly anticipate obstacles and remedies, or did we not think about ensuing challenges?

The purpose of strategy is to weigh the probabilities of outcomes based on the information we have. Then, to adjust the strategy according to the results we see.

RIAA Finally Notices that Suing Customers is a Bad Idea

From Marketing Vox and The Globe and Mail (http://www.theglobeandmail.com/servlet/story/RTGAM.20081219.wgtriaa1219/BNStory/Technology/?page=rss&id=RTGAM.20081219.wgtriaa1219)

The Record Industry Association of America's legal witch-hunt of P2P fileswappers is coming to an end. The industry body, which represents major record labels, just announced it will no longer go after people that illegally share songs protected by copyrights.

Since 2003, the RIAA has sued about 35,000 people for swapping songs online. Most violators paid a settlement of around $3,500 to avoid higher legal costs. The RIAA's legal costs, however, exceeded that settlement money, writes The Globe and Mail.

Critics often challenged the constitutionality of the suits, as they could impose damages of $150,000 per infringement, which is far in excess of the actual damage caused. One defendant faces up to over $1 million in damages if he is found guilty of illegally downloading seven songs.

The RIAA is not abandoning any of its outstanding cases — some of which are before the courts — so he will go to trial on late next month.

For future violations, the RIAA got several unnamed internet service providers to work with them to find illegal file-sharers and cut web access if users ignore repeated warnings. "It's much easier to send notices than it is to file lawsuits," said RIAA leader Mitch Bainwol.

The organization also said the lawsuit campaign raised awareness of piracy and kept the practice to manageable levels, which supposedly allowed the legal digital music market to flourish. (Legitimate sales of digital music tracks in 2008 just passed the 1 billion mark, a 28% increase over 2007, according to Nielsen Soundscan.)

Despite a healthy increase in digital sales, the spread of unlicensed music on ISP networks continues to choke record company revenues, according to a study by the International Federation of the Phonographic Industry.

Self Growth

Working on yourself like clay should be one of your greatest and most pleasurable life tasks. It makes you, in essence, an artist. An artist creating and shaping yourself.

- Robert Green

Waterlilies and Stainless Steel (artist Bansky)

Artist: Bansky. Thanks to Matt, for turning me on to him.

The Reason We Form Companies

"The reason that a group of people get together and exist as an institution that we call a company is so that they are able to accomplish something collectively that they could not accomplish separately – they make a contribution to society as a group that is greater than the individual contribution.”

David Packard, Founder
HP

Let us never forget the power of collective minds. We are all smarter than any of us.

Proliferation of the Media (artist - Bansky)

Artist: Bansky. Thanks to Matt, for turning me on to him.

A Tired Bull...

Staying Motivated

I keep track of all of my goals and look at them daily. At the bottom of my goal sheet, I have the following reminders and hints taken from Tony Robbins, Brian Tracy, Steven Cox, and others. Sometimes, I'll be reading them and one will jump out at me, and be just the thing I need to press a little harder and find a way to hit my goals.

STAYING CONFIDENT

• Practice crtainty in the face of fear
• Develop the habit of focusing on what's right instead of what's wrong. Be positive about finding a solution.
• Commit to seven straight days of only positive, good thoughts. Do not allow myself to hold a negative thought.
• Decide to be curious instead of judgmental
• Find something to appreciate in every challenge. Respect and use the pain to my benefit.
• If I commit to continuous improvement, then each day and week and month gets better and better.
• Decide not to be perfect. Just commit to doing better.
• Develop my faith. As I believe, so it is created.
• Information * Focus = My Reality. Change what I focus on and change the quality of information, and I change my reality
• "You never know what's possible until you attempt the impossible"
• The more clear I can be on exactly what I want, the better I can find the people and information that will help me get there
• A dream, coupled with an unrelenting will to attain it, is a reality with an eminent bearing. It simply will happen.