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Post by David Wyld on Nov 23, 2013 22:30:43 GMT -6
Students, Please view and comment on this link of the day - yes, for your education, but also for the points, of course! Watch the video below: TITLE - Tim Ferriss, Author of The 4-Hour Workweek | Smarta video interviewThen, post a comment in reply to this discussion thread. Again, what to post? Here are some ideas: + What did you take away from the video? + How does the video relate in some way to your past experience (work, as a consumer, family, school, etc.)? + How might you use these ideas in your own career? Good luck! David
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Post by billyg on Nov 27, 2013 14:29:33 GMT -6
Discovering the small amount of products that bring in the most profit and the large amount of products that require the most work is something that should interest business owners. These two will often have a similarity that is to be noticed. Products which bring in the most money also typically require the least amount of effort. Business owners as well as employees should also seek information such as how to best say "no" to people, how their work effort is measures, and what their brand is.
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Post by danielleolivier on Nov 27, 2013 15:29:46 GMT -6
The most interesting part of this video to me was the way he explained how he promoted himself and his book. By not trying too hard to not offend people, he was able to "polarize" the audience and have them debating their ideas online. Having this online presence in reviews and blogs, stirs up a buzz enough to get more and more people talking about it on radio and magazines and eventually on TV. All of this promotion basically comes free by planting ideas and topics online and getting people to respond.
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Post by dorcas on Nov 29, 2013 21:36:08 GMT -6
TITLE - Tim Ferriss, Author of The 4-Hour Workweek | Smarta video interview I like the way he said he manage his time, the 80-20 rule which i just learned. Managers spend 80% of their time on products which brings 20% of profits and spend 20% of time on products that make 80% of profits.It is important to spend your more time on what bring more profits to the company. Also think that it is even more important not to ignore on the products that bring less profits. A product may bring not profit to the company but bring traffic. Walmart uses this strategy, some products are just in the store to bring traffic and not for profits.
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Post by tyancey on Dec 1, 2013 14:48:08 GMT -6
TITLE - Tim Ferriss, Author of The 4-Hour Workweek | Smarta video interview
I think that it is important for businesses to be able to know about their products and how they are contributing to the company's revenues. Companies should be able to make sure that they know what products and taking up too much time to create and are not creating enough revenue and the products that contribute a lot to the company's revenues. This is important information to know because companies need to know where they need to focus their time and energy. Products that are not bringing in much revenues should not be focused on as much as products that contribute a large sum to the company's revenues.
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Post by darrell2009 on Dec 1, 2013 23:34:41 GMT -6
I think business should learn how to value their time better like what the guy stated about the 80-20 rule. Most business just worry more about how much profit they can get out in a curtain time but need to understand if they would open through the day they would spend less time trying to rush out the next morning.
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Post by brichoux on Dec 2, 2013 10:24:08 GMT -6
Finding your "4 hour workweek" is definitely an inciting idea and Tim makes some great points on how to utilize your time. Most of the time spent in our work week is spent on monotonous activities that do not generate much profit. Tim points out that only 20% of your business creates 80% of the profit and it is that important 20% that we should spend more of our time focusing on. You may not be able to cut down your work week to four hours, but any time utilization is good.
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Post by beccabourgeois on Dec 2, 2013 13:04:46 GMT -6
This video had a lot of helpful information. He talked about identifying which products and services are producing revenue and identifying 20 percent of activities that are consuming 80% of your time. When asked how to keep your costs down he said measurement is key. Looking at profit instead of pure revenue. As an employee you need to know how your value is measured. Create your own measurements if your boss doesn't. Make sure you let your boss know why it is less expensive to keep you than fire you. He gave advice on how to promote yourself as well.
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Post by w0415498 on Dec 2, 2013 16:29:34 GMT -6
this video was very informative. He said know how to use you time wisely. Know where your profits are coming from, where you use most of your time, and managing a good brand. Understand what your value is. You need to know what you're bringing to the business and if the business can continue without you.
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Post by katiesnyder on Dec 3, 2013 11:59:14 GMT -6
TITLE - Tim Ferriss, Author of The 4-Hour Workweek | Smarta video interview This video was helpful in understanding the 20-80 rule with profits and products. Its helpful to understand how much time to spend on each one. Time is very important in businesses. Spending too much time in one area can hurt a business or it can help them. If someone spends too much time with product and not enough helping customers then the customers might not feel that there appreciated. Business people need to spend time where it is needed. Time and quality is valuable and should not be wasted.
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Post by tevinrapp7 on Dec 3, 2013 18:22:58 GMT -6
TITLE - Tim Ferriss, Author of The 4-Hour Workweek | Smarta video interview
I like the fact when he said that a brand is very important, its what people associate you with. We all have our own brand, as a person we are branded by our actions and what we say. Each person brand represents them and the tasks that they take during the day or during a lifespan. I have my own brand, just like you have your own brand.
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Post by Holland Bussell on Dec 4, 2013 12:23:13 GMT -6
Tim Ferris' interview covered a range of topics. He stressed a number of different areas in which people can improve. Things such as improving productivity, knowing the customer, establishing a brand and so on. Certain products that you will create can be tailored towards certain kind of customers so adapting your products for certain groups can help your profits as opposed to trying to please everyone.
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Post by arielberthelot on Dec 4, 2013 16:30:56 GMT -6
TITLE - Tim Ferriss, Author of The 4-Hour Workweek | Smarta video interview
This video sort of teaches you how to generate more profit. It teaches you to cut unnecessary cost and things that are generating profit, more or less stop looking at just the revenue and look towards the total profit. Also, he teaches you how to get media coverage. He basically says to be yourself is the greatest way to promote yourself which is true honestly. Don't try to sugarcoat things because no matter what you try and say their will always be those that agree and those that disagree. Once you become talked about and a hot commodity then everyone starts to wonder about you whether they love you or dislike you. I agree with everything in this video because even though I don't have a career that I get any sort of media, but in my dance studio I have to be myself. Some aren't going to agree but some are and if you stick to being yourself majority of the time those that dislike your ideas end up sticking with you anyways because you gain some sort of trust. It sounds weird to hear dislike and trust in the same sentence, but it is true. You stick to your true colors and people will trust you whether they agree or disagree.
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Post by christiebrown on Dec 4, 2013 19:20:43 GMT -6
I think that time management is something that is extremely important to be able to do, whether you're a manager or not. The 80-20 rule mentioned in this video is something that we can all learn from. I also found it interesting that this author did not want to offend anyone with his words. This is something that is a little on the safe side, but can work out sometimes.
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Post by natjohnson90 on Dec 6, 2013 12:51:47 GMT -6
The thing the caught me in this video is the 80/20 rule. This rule is very helpful. Then he talks about measurement instead of profit sometimes. Make your own measurement for yourself if you boss haven't gave you one. He talks about how it's cost more to fire and replace you. Overall, good video.
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