I was reading an article recently and came across a concept called present bias. Basically, present bias refers to the tenuous relationship between the immediate and the abstract. When we are facing a big project or a difficult decision, the immediate cost always seems to outweigh the long term benefits. The immediate consequences of our actions are tangible and real, while the long term consequences feel abstract and out of reach. Our minds are programmed to deal with the immediate; whatever is causing pain or discomfort in the moment always seems more important than future issues. Present bias is the backbone of procrastination. We procrastinate because dealing with a difficult task in the moment feels more unbearable than the inevitable negative impact of putting it off. No matter how illogical it may be, our instincts will always be to avoid immediate discomfort.
We all do this. It doesn’t matter how professional or disciplined we may be, the temptation to procrastinate is real for each and every one of us. By putting off our responsibilities, we exchange future stability for momentary relief. But let’s not allow ourselves to be deceived – procrastination is nothing more than a way to hide. And while we may be able to avoid the pain of the moment, we cannot hide from the consequences of our actions.
Productivity and procrastination cannot coexist. Greatness cannot be achieved if we are unwilling to act. The best thing we can do both professionally and personally as leaders is to combat procrastination with excellence and discipline. Here are six ways to do just that. (more…)
I have made it my mission in life to give as much as I have been given, to forgive as much as I have been forgiven, and to lead as excellently as I have been led. I have been very blessed. God has given, forgiven, and led me in ways that I never could have imagined; I believe it is my job to extend that same grace to those around me. These three things, giving, forgiving, and leadership, are core values in my life. They drive everything I do from the decisions I make to the relationships I invest in. My values are my compass; they lead me through the ever-changing seasons of life. These values not only guide my personal life, but my professional life as well. I want to be a person who gives, forgives, and leads with excellence in every role in my life, whether it be my role as a father, friend, or boss. These three values have set the tone for my relationships.
I have found that values set culture; the things that are important to you create the atmosphere in which you work and live. One value in particular, the value of forgiveness, makes an incredible impact in leadership. A forgiving leader has the ability to earn trust, maintain relationships, and inspire loyalty in a way that would otherwise be impossible. Many things create a highly productive team culture; things like (more…)
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In accounting, there is this idea called the consistency principle. The consistency principle says that when a financial method or principle is adopted, it is to be adhered to without exception. The methods you utilize should only change should the adoption of a new version of those methods improve results. The consistency principle in your finances creates continuity in accounting records and provides a standard by which all future financial periods are judged. In short, the consistency principle provides a foundation that does not change, regardless of the results and outcomes of a specific financial period.
The idea here is that unless an improvement can be made, the only thing we can do is stay the course. Financially, this means that we keep moving forward even if we aren’t getting rich overnight. In fact, it’s a red flag for accountants if profits increase but nothing else has changed because lasting change is typically incremental. Even when it feels like nothing is happening, the only thing we can do is keep moving forward. (more…)
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A few weeks ago, we spend some time discussing personal values. Values are the priorities in your life; the things you believe are most important and the things upon which you would be unwilling to compromise. Personal values set the tone in your life. Culture is determined by the things you hold most dear. This is true in your own life as well as in the life of your team. Team culture is determined by team values.
I work with a lot of teams. What I have noticed in working with teams is that each team has its own culture; no two groups are the same. Varying personality types and leadership styles create the diversity necessary for a healthy team to grow. But in the midst of such variation, a healthy team has to find common ground. A clearly defined set of values creates a culture that will unite a group of people regardless of personal differences. When everyone is committed to the same goals and values, work is better and relationships are stronger.
Team values determine the culture and DNA of a team, without which the team would be unable to function. Although the values of each team will vary, I believe there are 7 values that are imperative for a healthy group dynamic. (more…)