PrinciplesYou Assessment, Perfection enemy of productivity, 5 things to balance burnout, Pipe & Collective intelligence
23rd May 2021 Evolution Partners Newsletter
“Great things are done by a series of small things brought together.” – Vincent Van Gogh
Hope you’re Thriving!
I’ve had a productive week with a few good meetings, a trip to the country and a weekend trip with the family to Rottnest Island, off the coast of Perth last weekend where we unexpectedly found ourselves in the middle of a surf contest. Also, this week I found myself in a bind, where a team has had to withdraw from an established group program, leaving the program short. If you’re currently around $3m to $10m in revenues, based in Perth and need a structured strategic planning program for both you and your leadership team, please contact me to see if this might be a good fit, as I might not be running another program for a long time.
A couple of weeks ago, I came across this interesting assessment I thought you might like from Ray Dalio, the Billionaire author of Principles and founder of Bridgewater Associates, the investment firm with $140B assets under management. Ray teamed up with expert psychologists Dr Adam Grant, Dr Brian Little and Dr John Golden to develop a free 10-minute assessment to help you understand yourself, understand others, and help others understand you.
Don’t Let Perfection Be the Enemy of Productivity
Sometimes the pursuit of perfection can be stifling for high achievers. When working with leadership teams, I often say our job is to evolve our plan, not to complete or perfect it. We must be as effective as possible at building the plan.
In my book Made to Thrive, the opening two lines are as follows.
“How to be effective. That’s every leader’s problem.
The question you are asking yourself, either consciously or unconsciously, is, ‘How can I make my potential count for the most in this world of effort?’”
This week I came across an interesting HBR article about the difference between perfection and effectiveness.
From the article.
“Perfectionism is often driven by striving for excellence, but it can be self-sabotaging if it leads to suboptimal behaviour like continuing habits beyond their usefulness, over-delivering when you don’t have to, or overthinking every decision you make.”
Productivity isn’t about getting more done. It’s about what you get done. Three aspects of perfectionism can interfere with your ability to prioritise the most important tasks.
- You’re reluctant to designate decisions as “unimportant.”
- You feel morally obligated to overdeliver.
- You get excessively annoyed when you aren’t 100% consistent with good habits.
Read the article here Don’t Let Perfection Be the Enemy of Productivity
The 5 things to do to balance burnout
And a focus on perfection can sometimes lead to burnout which is defined as “fatigue to the point that normal functioning stops, impacting you both emotionally and physically”. Burnout is a real and present danger, not only for you but for colleagues. As you might know, it’s such an issue that Kevin Lawrence, whom I do a weekly podcast with, wrote a book – partly about burnout called Your Oxygen Mask First: 17 Habits to Help High Achievers Survive & Thrive in Leadership & Life. He’d just seen mental health challenges so often in entrepreneurs; he felt something needed to be done about it.
This week I came across this interesting article with 5 practical things you can do to avoid burnout from therapist Melissa Russiano.
The five things are
1. Create a “body budget.”
2. Create “off hours,” but make them realistic.
3. Ask your workaholic boss how they manage work challenges.
4. Create “personal policies” to help you think about socializing.
5. Balance shitty tasks with things that make you happy.
Read the article here. What to Do if You’re Barely Keeping It Together Right Now
Rather than offload its commercial office space into a crowded market, Software analytics company Snowflake has redesigned its entire office to suit the post COVID back to work environment. Workstations have been redesigned, boardroom tables are now wider, team members now pack everything on their desk into lockers, and every team member gets their own white markers for whiteboards. Watch this interesting 4-minute video here.
How This Tech Company Redesigned Its Office To Lure Workers Back
Pipe a fintech start-up that provides SaaS companies with a way to get their recurring revenue contracts paid upfront this week achieved a $2 billion valuation in just under a year since its public launch, making it the fastest fintech to reach this valuation in history. Pipe pairs companies seeking capital with investors on a marketplace where investors place bids for contracts. The Pipe analytics determines the quality of the contracts. The company emphasizes that what Pipe is offering is not debt or a loan. An interesting new business model, but it still feels a little like Invoice Factoring.
More funding flows into Pipe, as buzzy fintech raises $250M at a $2B valuation
Chipotle Mexican Grill, Target, CVS Health and Starbucks joined a growing list of retailers and restaurants that eased mask requirements on Monday for fully vaccinated customers unless facial coverings are required by local or state law. According to the CDC, roughly 47% of the U.S. population have received at least one vaccine dose as of Saturday. About 37% are fully vaccinated, according to the agency. Australia meanwhile is about 13.1% vaccinated.
Target, CVS, Starbucks and other retailers ease mask mandates for fully vaccinated customers
This week on The Growth Whisperers podcast
The collective intelligence agenda item inside the weekly meeting is one of the most valuable parts of the weekly meeting. This is where decision-makers learn all the data and facts, debate the merits of ideas and most importantly make decisions to help the business pulse faster.
But there are seven important aspects to making collective intelligence work well in your company. We discuss these and detail how you can make weekly meetings more effective using the power of collective intelligence.
Collective intelligence, the key to a successful weekly meeting
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