Opportunity versus Risk

I am watch the show "The Men Who Built America" on the History channel and they were talking about JP Morgan investing money in an unproven commodity, electricity. They said that JP Morgan saw opportunity where others saw risk.

Any time a leader is about to invest time, money or energy into a venture they want to weigh the risk and reward of that venture. They need to determine if the opportunity far outweighs the risk that is involved. JP Morgan was a banking man and he didn't find success by investing in bad ventures. When he saw Edison's light bulb he knew that the opportunity was too great to pass up when compared to the minimal risk. We still to this day use the Edison light bulb and electricity so JP Morgan seized that opportunity and it paid off.

Pay offs don't always occur you have to make sure what you are investing in seems worthwhile and will establish itself as a strong comsumer commodity. For instance if someone approached you to invest in a new business they were starting you would have to ask a few questions before leaping up and investing.

You might ask:

• Has this ever been done before?
• Is there a long lasting need for this product or commodity?
• Is the appeal for this widespread or isolated?
• What is the ROI (Rate of Investment)?

There are other questions you might ask but these four should give you a good indication if it is worth your time and money to invest. If you do decide to invest I hope the payoff is successful and if not wait for the next big thing and look to invest in that.

13 in 13 the Final 6

Last time I blogged I gave you the first 7 of my 13 life changing habits for 2013. The nice thing about life changing habits is that you don't have to make the changes all at once. They will occur over time. As long as I have made the steps and I am working on those life changing habits in 2013 I am successful.

Here are 8 - 13. Read my previous blog for 1-7.

These first two may seem like they contradict each other but they really don't and I explain.

8.  Follow more and lead less - In some situations you have to be a follower and not a leader. That is how we learn and grow.
9.  Lead more and follow less - In other situations you have to lead more especially in areas of your expertise.
10.  Pray more worry less - Instead of worrying about things it is better to pray about them and let God be in control.
11.  Work more efficiently - Make better use of my working hours by finding ways to be more efficient.
12.  Work more and Play more - If I am working more efficiently I can generate more income and working more efficiently will help me play more and spend more time with family.
13.  Continue to improve my communication skills - I am a member of Toastmasters and I will continue to challenge myself to improve those communication skills whether they are speaking, listening or evaluating.

Create your own list of 13 in 13 and share if you so desire. Check back often to my blog as I will periodically check in on how I am doing with my 13 in 13.

Don't forget this blog focuses on Leadership but it also addresses the issue of leisureship and things for self improvement away from your leadership role.

13 in 13 Revisited

Last time I mentioned that I had decided this year instead of coming up with empty resolutions I wanted to focus on some simple changes. Changes that will happen over a period of time and not necessarily overnight. Each of these can be personal in nature or leadership in nature, since this is a leadership blog. I decided to present it in the format of 13 in 13. This is 13 changes I will make in 2013. I was inspired by my daughter last year who did a 12 in 12 but I have always liked a bakers dozen so I am going with 13.

Here are the 13 things I will change or do differently in 2013. Throughout the year I will expound on these and let you know how I am doing. I challenge you to create your own list.

1.  Read more watch less - I want to read more books, articles, papers etc and watch less inane television.
2.  Walk more sit less - I want to get more active from this sedentary
3.  Give more spend less - Self explanatory
4.  Save more spend less - Self explanatory
5.  Eat healthier - Avoid those sweets even though I love them
6.  Declutter - Rid my life of things that clutter it. Get back to a simpler time when the basics were all that we needed.
7.  React more procrastinate less - I want to be more reactionary and visionary than procrastinating the things that need to get done.

I'll share the remaining 6 tomorrow.

Leadership Fiscal Cliff

Have you survived the fiscal cliff? Maybe you are sick and tired of all the talk about the fiscal cliff. If you are one of those people maybe you can at least read what I have to say about leadership lessons from the fiscal cliff.

The one main lesson we can learn from all of the fiscal cliff negotiations is a little bit of compromise. A great leader is willing to compromise but not willing to back down on their own principles. Unfortunately that is not what we saw in the fiscal cliff negotiations. Instead President Obama expected everyone to cave in to his demands and He wasn’t willing to compromise. On the other hand the Republicans compromised on the taxes but they didn’t stand firm on expecting spending cuts.

Leadership must be give and take willing to give in but expecting the others to give in as well. That is what working together is all about and that is what makes great leaders. Washington is filled with people who are not leaders just self serving freeloaders believing they know what is best for America.

We may not have gone over the fiscal cliff but the leadership abilities of those in Washington have completely fallen off the cliff. If you want to be a great leader work on your compromising skills but remember to stand firm on your principles.

America will be approaching the fiscal cliff again let’s see how Washington reacts next time.

13 in 13

Last year my daughter did something on her blog called 12 in 12. Instead of setting resolutions or goals she came up with 12 things that she would do differently.

I was inspired by her 12 in 12 and decided to do my own 13 in 13 this year. I am going to focus on leadership growth and personal growth.

The next time I blog I will share my 13 in 13.

HAPPY NEW YEAR!!

HAPPY NEW YEAR!!

Keep following this blog in 2013 for new and exciting information on Leadership and Leisureship. In the coming weeks look for a recap of some of my favorites from 2012 and a look into the future of this blog.