Richard's Blog

We interpret the what is said to us or written to us depending on how we feel.

If I am worried about financial issues and someone comes up to me saying

"You know they say people should save more when they are young" with no other intentions than sending a message from the news.

Then this sentence could be offensive and lead to a quarrel. on the other hand if my life was just normal I would probably say "that's a good idea, I should start saving some money"

So it really is important to express feelings after a while when my feelings have recovered. This also fits to business judgements.

We make numeral decisions daily that affect the company. So when we are not thinking straight or have some other issues in our head that differs from our original business plan. Then we really have to hold on to that quick decision that we wanted to make and decide it when our mental state is back to normal.

This is where religion proves to be an awesome mechanism for humans.

We feel anger, retaliation, fear, sorrow, stress everyday. We need some kind of recovery to make our mental thoughts to our original plan which would mostly be "pursuing for happiness". And nothing is more better than praying every night going to some church that environmentally makes us holy and want to pray. Each prayer is usually thanking for what is 'on the plate' and blessing people around us.

I strongly would like to implicate this into business. Where we fight everyday for survival , though the main reason is to 'put something on the plate' and try to have some value in life. So every night or every weekend we should reset our thoughts for the first goal we first set when we entered the company. Then maybe even though every day is a small war, then people can be able to refresh their thoughts to a less hostile set of mind and work with a bit more enthusiasm

'Don't do that!! That's dangerous!'

We talk to our kids like this when they are children. It's because that they are doing something that could be risky. And when it comes to risk and life, You really don't wanna bet on something that you only have one chance.

This phrase is a business killer if you use it in the work place because of two major reasons

One is that employees are not children and the another is that business is always risky. So if you say 'Don't do that!! that's dangerous' This phrase in other words is 'Don't do that!! That's risky" which will mean 'Don't do business'

This phrase should change once we get cognitive knowledge. It should be,

"if you choose to do that, try to reduce the risk by being careful, and just go for it!"

Fear is probably one of the most biggest counterproductive concepts that exist in business.

Fear is educated. It is learned through the mistakes of life. Someone who almost drowned to death will have a hard time to go near water because of the fearful memory. The more we live the more chance of getting into situations with terrifying results. So when it comes to business, learning to be scared is something that must be avoided.

When doing business we should embrace the risks and believe that we have become stronger than the last experience.

So for some one who has drowned in business must believe that he will not be smothered again and that he or she is a better swimmer now. If you can't channel the fear into risk and go forward, Business is not your sport.

People often think if they can toss a coin 8 times their chances of seeing heads is around 50%

Worst case 12.5%.

Best case 87.5% of seeing heads.

50% is achieved if you toss the coin about 100,000 times.

This is not a good approach for business. As I have been strugglling to do business for the past 4~5 years. I've seen many plans go to ashes because of using this kind of probability approach. In business this probability does not work like the coin for one major reason.

Business is done with limited resources. Which means that the average result of 8 tosses could all be tails if you are, unlucky. 8 consecutive results of heads could be waiting but since we are restricted with chances we lose.

This is why most of the time the house wins in gambling .The rules of baccarat are the same as tossing a coin and this game is specifically a life ruiner.The more money you have the more chances you can win.

So basically if you are not flowing with money, you have very limited chances. And thinking with this kind of approach. probability can lead you to very discouraging results.

Fortunately the good thing about business is not a 50/50 game and we can actually do a lot more than wait for the chance of luck.