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Post by brittanycompton on May 7, 2014 21:39:58 GMT -6
This author, Tim Ferriss, is very knowledgeable in his views on how to go about in business. everyone wants to work less and make more. Hi idea in identifying the product and having something that gives you high profit but low maintenance is one of the keys. Measurements are important when your in business and I like how Ferriss put it into perspective of documenting what you do so that you can show your manager or company this is what I do and this is what would happen if you don't have me. Having a great brand represent what you want to give to your customer will have minimal debate. Knowing what you are is important in your business. It is important for as many people as possible to get your message. I have done this with work because I have created an image of the work that I do and people have recommended me to others to establish my clientele. There are so many good points in this video! I love it
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Post by asanchez on May 7, 2014 21:40:17 GMT -6
This video was interesting because he talks about time management and how to use time wisely. I like that he also talks about how to make your own way of measuring your value to a company so that you can keep that in your pocket if needed. I definitely agree with his idea that you have to establish not only what you are, but what you are not to create a brand. I completely agree that it matters not how many people don't get your message, what matters is how many people do.
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Post by nataliedodds on May 7, 2014 22:30:07 GMT -6
This video was very beneficial. It is so true how much time we actually waste. Also, I know that I am guilty of spending time on things at past jobs that are less profitable than others. It's so easy to get side-tracked, and lose sight on what is the most important. Think about what you are doing and how much time you spend doing it.Then think about the profit outcome. Are you using your time to best benefit the company?
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Post by Shondrea Lovette on May 7, 2014 22:55:00 GMT -6
I like how the video broke down the 80/20 rule in this video. Some Product doesn't bring a company profits but it brings traffic and because of that products can be used to attract cliental who in turn buy other product they may need. and it's true that manager sometime focus some much on products and forget to focus how to draw in more consumers who may need to buy other product than the ones that may be on display.
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Post by susiekaz on May 7, 2014 23:01:01 GMT -6
The very beginning and very ending of this video were very interesting. At the restaurant I work at now, we have always caterer to each and every customers' wants and in turn have some very high maintenance customers in the restaurant and bar. I have always wanted to do my own study to see if the "regulars" really bring in the majority of the money into the business or are they a waist of time. It would also be very interesting to see if the same was true for high maintenance customers. Are they really worth all the hassle?
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Post by brettstirling on May 8, 2014 13:00:27 GMT -6
I think just as costs can be quantified in the 80/20 analysis, time can be done in this way too. Taking advantage of this knowledge could save both time and money. He does a really interesting take on metrics i thought. If you're the employee then you should know exactly how your work is impacting the business, whether it is negatively or positively. I almost completely disagree with his viewpoint on how companies waste time. It depends on the company but "preventative maintenance" in every use of the term is never a waste of time. On the other hand, prioritization is key to not wasting time. I like his take on whether the customer is always right. I just depends on what the business is shooting for. I have had to "fire" customers before because whether the customer is right or not, I just wasted money on their transaction (or lack of) and it was a situation that has happened multiple times. In this case the customer is no longer right and is only a cost to me.
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Post by kaitlyncampbell on May 8, 2014 13:42:33 GMT -6
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 briandavis1 on May 8, 2014 14:26:59 GMT -6
I 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 halearnold on May 8, 2014 16:06:26 GMT -6
To many numbers, and information without engaging features. Time management is extremely important and I am sure that what he is saying makes sense but it was very difficult to keep focused on what he was saying.
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Post by shantel on May 8, 2014 21:19:44 GMT -6
This video was too scattered for me to truly understand the key message. What I liked about the video is if the boss doesn't have the right performance measurements create your own. I also liked another key point he made which was don't go out your way to please people or offend them. Moreover, I wished the video was more focused.
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Post by asmith422 on May 9, 2014 16:02:56 GMT -6
I thought that the 80-20 process that he talked about was interesting. It's important in business that managers and employees both learn how to value their time in order to be more productive and at the same time have more time to do other things. Know which products bring profits into your company and spend the right amount of time pushing those products and advertising for them so that you get the most you can out of them.
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Post by jodiemalley on May 9, 2014 18:01:13 GMT -6
This video is long and there were many different points discussed. I felt that all aspects of the video are important to businesses. And time management being extremely important. This is discussed in the video with the 80/20 rule, which states that a company should strive for ratios that '80 percent of outcomes come from 20 percent of inputs'.
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Post by godwesso on May 10, 2014 13:29:08 GMT -6
TITLE - Tim Ferriss, Author of The 4-Hour Workweek | Smarta video interview
Understanding the product, industry, costs and profit of any business is very important. I like that he talks about creation of "own" matrix because every field has different dynamics that affect an industry. The 80-20 rule also resonated with me, spending time on products that create profit makes sense to me.
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Post by csimo123 on May 10, 2014 15:29:29 GMT -6
This video for me is great for any type of business major or anybody who wants to get in this field. Three topics that i enjoyed where wasting time, saying no, and is the customer always right. I think all of these are important when conducting any type of business. Do not waste time on pointless things and focus on the larger more important things first so that way your company can move forward. You can always come back to the little things. Saying no, this is a hard thing for me because I am a very giving person, but i know what was said in the video i liked and i need to keep that in mind is do what i can handle and you can say NO. Last thing is the customer always right? I like how the video answered this it depends on the company and weather they want to provide to that customer or no you can choose your customers.
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Post by wdeben on May 10, 2014 18:39:10 GMT -6
As you get older time moves faster. This is something that I've heard before. That being said time and planning your day around the clock can help you be successful. Especially when running a business.
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