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Post by kristin on Dec 10, 2013 17:22:30 GMT -6
Tim Ferriss, Author of The 4-Hour Workweek | Smarta video interview
Time management in business is very important. It is extremely important to manage your time around the products that bring in more profit. Tim Ferriss talks about the 80-20 rule which is very interesting. How you spend your time and what you spend your time on it extremely important. You don't want to waist time on products that don't bring in much profit but you should focus your time and energy on those that create the most profit.
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Post by clayb1919 on Dec 11, 2013 9:57:58 GMT -6
This video is called how to manage a small business. In this video, Tim Ferris talks about his idea of managing a 4 hour work week. He tells us that is important to focus on what were good at instead of stressing about what we aren't as good at. The reason is because 80% of our profits come from 20% of our work. Time utilization is key to maximizing profits and relieving stress in the workplace.
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Post by rjmonico on Mar 15, 2014 12:38:43 GMT -6
i would share this video with friends and colleagues. I want to to thank you professor. When it comes to branding and productivity these are a few things that are critical in being successful in business. The 80/20 rule is critical in not spinning your wheels on products that do not have high margins. I will say that to me being profitable and sustainable are so important in business today. Maximizing your most from your employees is key in order to adjust to changing times especially if it's an industry that changes rapidly.
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Post by patrickschwaner on Apr 2, 2014 16:37:10 GMT -6
This guy talked about a variety of subjects, so it's hard to focus in on just one thing. The thing I liked the most was when he talked about the importance of being able to say no to people. A lot of people have a problem with saying no, and this ends up wasting massive amounts of time and energy. I was hoping this guy would just tell us how we can get away with working only four hours a week but he never did.
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Post by bmcgarry13 on Apr 9, 2014 20:03:21 GMT -6
Tim Ferriss gives good advice. The video is long and boring, but the content is important for improving business. The 80/20 rule explains how there are normally two types of services, products, and customers: ones that are high profit and low maintenance and ones that are low profit and high maintenance. By isolating the two different types, managers understand what is driving their profit. In the future, it allows them to effectively put emphasis on the right services, products, and customers to be successful. Tim Ferriss gives good advice for making companies leaner!
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Post by pellirf22 on Apr 14, 2014 3:08:04 GMT -6
TITLE- Tim Ferriss, Author of The 4-hour Workweek, Smarta video interview
I like the breakdown of value and profit from a product/employee perspective. Finding your value and ways to assess your performance can be very beneficial to individual success. How we define our value in business can be easily misunderstood and to focus on specific value requirements can decrease the influence of this issue. It can also allow individuals to see their personal influence on the surrounding business. This perception puts them in a better position to succeed at the tasks at hand.
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Post by kati3 on Apr 14, 2014 15:04:54 GMT -6
This lecture is excessively boring. I found it hard to focus on that he was trying to get across because his delivery was so boring. he had very good suggestions on the steps business owers should take and how to promote yourself. I definitely didnt learn anything i didnt already know.
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Post by katelynjones on Apr 23, 2014 16:33:08 GMT -6
Using time wisely he says to use the 80/20 analysis. Keeping your cost down is choosing the right type of measurement. Saying no to people is ok sometimes. If it doesn’t help you then don’t do it. You have to make the right decisions for your business. Is the customer always right? I would say no, but is depends on the type of owner you are.
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Post by sdoescher on Apr 24, 2014 16:09:03 GMT -6
This video offers some good suggestions. While a four hour workweek is ridiculous, tracking your time and being aware of where your revenue comes from is wise. Once this is done you can then make better use of your time by using on the most profitable activities. Also, clearly defining who your product is for and not being afraid of alienating the market is important. Doing this will allow you to offer products that some customers love rather than a product that everybody is indifferent to.
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Post by sdoescher on Apr 24, 2014 16:09:25 GMT -6
This video offers some good suggestions. While a four hour workweek is ridiculous, tracking your time and being aware of where your revenue comes from is wise. Once this is done you can then make better use of your time by using on the most profitable activities. Also, clearly defining who your product is for and not being afraid of alienating the market is important. Doing this will allow you to offer products that some customers love rather than a product that everybody is indifferent to.
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Post by kelseywatson on Apr 25, 2014 20:50:25 GMT -6
The concept of finding 20% of the items that make 80% of your profit versus finding the 20% of items that take 80% of your time is interesting. The concept is good if those ratios apply to your company, but it's interesting as to where he got that figure. I do find it hard to believe that most companies would have an extreme ratio like that, but it does present the idea of doing an internal analysis to see where you can "trim the fat". I feel like this video could fit in the category of doing stuff efficiently where you have a good product and administration mix.
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Post by meganlynch on Apr 29, 2014 7:32:30 GMT -6
I think Tim Ferris had very good points. The one that I think could save people in the future at their jobs is showing your boss why it is less expensive to keep you. When companies have to cut costs, the first thing they look at is usually firing employees. By setting up your own measuring system of your performance, you can show that you are an asset and that the company is not losing their money. He also mentions good tips on branding and promoting yourself. He mentioned how it is okay to post things that could have a negative response. He says that sparking a debate gets attention and allows you to explain your point of view. When referencing branding, I thought he had a good point in saying that some people will get your brand, and some people won't. I think this is a good point in not trying to please everyone, but focusing on a target market to help generate sales.
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Post by lmoore on Apr 29, 2014 18:18:37 GMT -6
Tim Ferris gave really good advice about different aspects of business. What stood out the most was that companies waste time trying to prevent bad things from happening and trying to please people. He suggested that in order to improve productivity it is as simple as saying no to people.
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Post by amandayoung3231 on Apr 30, 2014 9:18:08 GMT -6
One way to get your name and brand out there is to put it online. But so many people will miss it. So how do you make sure a lot of people see it? He says in depends on who you want to see it, makes a big difference too.
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Post by jessicaratelle on Apr 30, 2014 12:53:06 GMT -6
I like how he starts off with the 80/20 rule. As business students, we know of the 80/20 rule but the ratios stand for different things. I like the way that he changes it up and catches your attention. If you haven't been given a measurement, you need to make your own. I also agree with him in saying that brand is very appropriate. It really associates you with your company. I liked this video for the most part.
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