BusinessCareersEducationMarketingProductivitySelf-ImprovementUncategorized

Two simple rules that will LITERALLY save you millions of dollars going to an Ivy League school for an MBA

While there is a massive amount all of us can learn about business from a MBA program, I have found that two lessons I’ve learned from my exposure to these programs have been incredibly fruitful in helping me manage strategy and tactics while growing a business and navigating through both good and difficult times.

Don’t be Married to Your Business

If you haven’t learned about the Sunk Cost Fallacy , I recommend you read over the linked site. Just open it in a new tab. It’s ok, I’ll be here when you get back.

Basic gist of this fallacy goes as follows “the more you invest in something, the harder it is for you to stop investing in it.” We are all guilty of this. That significant other you spent over a year longer than you should’ve trying to keep the relationship together when you knew it was long over. That degree you finished because “well, I’m already 50% of the way through it,” and then proceeded to follow an entirely different career path in which everything you learned has been tangential to your current life. Even the business you’ve been working on for years, but never got any traction with.

When you are working on a business plan, or developing a business, you will find only after you have invested a lot of time, sweat, money, blood and tears into it that, unfortunately, your original vision was not that good. At which point you have a sticky situation, should you keep investing in the idea, or is it time to spin things down? I have seen many, many people stick to an idea long past it’s sell-by date, and the history of business is littered with business folks who went to the grave still trying to get that “great idea” to start to pay off.

Here’s the thing, sometimes your idea does suck.

Yep, sometimes it just isn’t as great as it felt it would be once it is built, and all the polishing and reconfiguring of the original idea might make no difference at all. It just is not going to take off as it exists.

So what does that mean? Well, luckily there isn’t a holy covenant between you and your company or your business direction. It is not a mortal sin to decide to drop that original business idea. In fact, that is the sign of a good business person.

YouTube, originally started as a dating site. Yep. Their selling point was that you could upload videos of yourself so people could get to meet the “real you,” before deciding to date. At the time, it seemed like a great idea. Dating sites were hot and making money hand over fist. However, in a very short period of time, it was clear that it was not the brilliant idea the original creators thought it was. Now, they could’ve superglued themselves to the original idea and simply tried to polish it further, making the video interface cleaner, making the matching algorithm better, a whole list of minor perfunctory changes. They could’ve decided that they were married to the original idea, ’til death us do part.

But they were good business people, and decided instead to concentrate on what was working and what wasn’t. Don’t get me wrong, they tried almost everything to get stuff working. They even went onto Craigslist and offered women $20 a video to join and upload videos. Still no one came forward. So they said, screw it, let’s let people upload anything they want, forget the dating aspect. The first video ever was this one. YouTube took off and they sold themselves to Google for 1.65bn. If they were married to the dating site idea, they likely would’ve gone out with a puff of smoke, but because they were willing to divorce themselves from that idea and see what else worked, Chen and the other original team are doing quite well for themselves today.

Stick to your Guns

In short, this rule means: Don’t give up so quickly, just change your tactics and keep trying. The fact you built the tech to begin with and the fact that you’ve invested so much in it means that there is something there. However, there are so many external factors that lead to your plan not working. In some cases, the market simply is not ready yet for your product. In other cases, the strategy you are using to sell you product is not properly targeted to the sector in which you would do best. In a surprising number of cases, it’s simply bad luck in finding the right investors, employees and clients. If you stick with it, you are more likely to succeed.

As my father always told me as a kid, “You miss every shot you don’t take.” I hear that some other great hockey player may have said this as well… Might’ve played for the Oilers for a while. Since they haven’t won a Stanley Cup in a long time, I’m guessing that’s why the name evades me, probably Kelly Buchberger. Kellys always have great ideas.

However, I can hear you all screaming at your phone: “Doesn’t this rule fundamentally contradict the previous rule?” Oh, I can see why would think that. The previous rule says that if something isn’t working, you shouldn’t continue to bury money into it. That’s the entire point of the sunk cost fallacy. However, I am not saying you continue doing something that is not working. I am saying you should look at what you have already done, learn from it, and adapt accordingly. Do not give up now that you have learned so much from lack of success. You should look at what you have built and then go, what can I do with what I have built.

You know what doesn’t work.

Which means that the category of possible actions that will work is smaller and easier to choose from. Sometimes the pivot is as major as what happened with YouTube, where the whole model was dropped, but the technology was kept. They stuck to their guns, the technology they had developed that worked and worked well. They got rid of what didn’t work, the original business idea. In the end they were very successful.

Take the chance, invest in the technology, build your ideas, but be willing to fail fast and pivot. If you are not getting traction with your current strategy, there is nothing wrong with changing tact. In fact, that is how most of largest businesses today have got to where they are.

EducationFuturePandemicProductivitySelf-ImprovementTechnology

Men with toilet paper headdresses: Post-Coronavirus males, displaying their hunter gatherer prowess in order to attract mates.

The title seems so simple, “how to survive a pandemic in 5 easy steps,” right? I’m sure the extroverts out there think I’m nuts. It’s true, as an introvert, this is my time to shine. I’ve never felt better. Working at home in front of my computer with my kids locked out of my bedroom has been like a dream! Sometimes I can work overtime and nobody gets annoyed at me for getting home late because . . . I’m already home! It’s a little like being back at university, but without six female housemates arguing over who should have done the dishes.

I’m only sorta surviving

To be fair, instead I get the eight-year-old picking my lock (I can hear him doing this as I type right now) and coming into my room and asking if I can purchase “violent games with lots of killing” for his iPad, and once he leaves, he leaves the door wide open, so that . . .

My four-year-old can come dancing in and announces, “I wish I still had hands!”. After a short, but strange conversation involving Elsa and unicorns, I tell her to go back downstairs to dad, but she forgets to lock the door, so that . . .

The two-year old can boisterously BURST into my room and joyously yell, “HI MOM!”, then say a few things that half make sense, try to get into several things she shouldn’t get into, climb on the bed, jump on it, come over to me and look up with her big blue eyes and ask me a question that also doesn’t make sense that ends with “mom??” and when I message dad to fetch her, she hides in my closet.

But they’re a lot cuter than my housemates were. So it’s OK. Anyway . . .

Please please please do more than just sit on your couch.

Knowing how to be by yourself in your home is, in and of itself, a great trait to have. Being able to entertain yourself is something we strongly encourage our own children to do — without TV, iPad, or phones. So why don’t we hold ourselves to the same standard?

Hobbies

I’ve got to be honest with you right now: watching Netflix is not a hobby. Sure, it can be an entertain way to pass an evening or a Sunday afternoon, but it’s going to turn your brain into mush. If you’re one of the many people who isn’t able to work from home, now is a great time to work on a hobby.

Pick up an old hobby

Is there an old hobby that you used to do that you miss doing? Just recently, I decided I’d try learning how to use a serger that I’ve had for two years, but was too intimidated to try. Unfortunately, the serger conquered me and I went back to using my sewing machine, and I ended up sewing some sweet clothes for my children for Easter.

I used to really enjoy doing seed bead work by hand, but because I’d spend about 2 hours a day commuting to and from work, I was too exhausted to do anything once I finally got the kids to bed. Now that I’m home all the time, I have a lot more energy!

I used to do beadwork before I had kids, and starting up this creative work again has been wonderful.

Is there a hobby you used to do? Something you did as a child, a young adult? Try picking that up again. You may rediscover your love for it. I know that every time I start sewing again, I’m reminded how much I truly enjoy it.

Learn a new hobby

Is there that hobby that you always wish you could do, but haven’t gotten up the nerve to try it yet? Now is the perfect time! And in this day and age, it’s incredibly easy to learn new things. There are countless youtube videos, blogs, and other resources for learning how to try out new hobbies. If you have a friend who does it already, you can video chat with them.

I enjoy knitting, but once got caught up on a particular stitch that I kept messing up, so I had a video chat with my husband’s aunt and she helped me figure it out. This weekend when I was trying to figure out my serger, I had a video chat with Pauline at Laberge Engraving (check them out!) while she tried to help me figure out what was going on with my machine. And of course there is the great Facebook network of brains!

Teach a hobby

My son has expressed an interest in sewing, so I’m helping him learn that as a new hobby, which I think is great — not only is it a fun hobby, but it’s a great skill to learn. It’s helpful that Walmart is still open — the tools and bits you might need for hobbies that you might want to pick up are available at Walmart.

Skills

I’ll admit that this is an impressive skill.

The topic of hobbies really leads me into the next topic: skills. Right now is also a good time to develop an old skill or learn a new one. If you’re not able to work from home, maybe now is a good time to try building on a skill that might be profitable now or in the near future. Do you know if you will still have a job when the world starts opening back up? What will business be like? The way we do business is already significantly different now. Having more and better skills will certainly improve your odds!

Practise a skill you already have

You might already have some great skills under your belt, but there’s always room for improvement. Do you know several programming languages? Learn a few more! Are you good at writing? Work on improving different writing styles. Are you generally good at repairing things? Break some of your household electrics and try to repair them (OK, maybe not this one.) If you’re already good at something, work hard at getting better at it. Don’t be complacent.

I don’t even have any good skills. You know like nunchuck skills, bow hunting skills, computer hacking skills. Girls only want boyfriends who have great skills!
-Napoleon Dynamite

Improve upon and learn new skills

My husband has always been interested in hunting, but he has really developed this new skill during the quarantine. The nice thing about hunting is that he CAN leave the house, but he remains isolated. What’s even better? He’s developing his hunter-gatherer skills! He now brings home bunnies weekly.

Food for thought: take one of your hobbies and develop it into a useful skill that can be practically applied to your life! Me? I’ve taken my sewing skills and developed them into learning how to alter clothing — that was how I made my children’s easter outfits. I converted an old dress and blouse of mine into dresses for the girls and a bow tie for my son!

Cute little gremlins.

Education

As they say, knowledge is power, and I don’t know about you, but I like power. And I’m sure you think that sitting around watching documentaries on Netflix is educational, but I’m sorry, folks, but not every documentary is good, and Tiger King is not really educational.

However, there are scores of websites out there offering some pretty amazing free and significantly discounted educational courses right now. You can learn very serious things and very silly things. You can get a good education in something that will support that skill you are learning or developing!

I can hear it now though, “you can’t teach an old dog new tricks!” Ah, but you can. I once had a dog who was old and I taught her “go away”. Was that new? Yes. Was it a trick? I think so. It was certainly useful when she was annoying me begging for food at the dinner table.

Studies have shown that constantly learning through life is one of the best things you can do for your brain, so even when you’re not in pandemic mode, pursue learning!

Resources

Here are just a few sites you can check out:

Prepare for a new world

What world do we even live in now?

We will need some serious hunter-gatherer prowess when the world opens back up? I don’t know. We may need better Walmart prowess. But you know, unlike my hunter-gatherer husband, Walmart doesn’t sell bunny.

Tasty tasty Peter Rabbit

A new Renaissance?

In all seriousness, what do you think things will look like? We may still need to remain more isolated than we were before. People will have to be far more careful than they were before. What are new industries that can come out of this? How can YOU be a phoenix rising from the ashes?

Some say that the Renaissance occurred because of the Black Plague. Is it possible that we could have a new Renaissance come out of this global event? Let’s not get ahead of ourselves with optimism, because this is quite a serious war we are fighting here, but having hope for the future is important too.

Going social

You know what else you’re going to have to prepare for? Being social again. It might be a shock to the system. Make sure you have a plan so you don’t overdo it. Plan to see family, plan to see close friends, plan to reengage with society slowly but surely. You may be surprised to discover that there is something to this whole introvert thing.

Prepare for death

You might die. In fact, you will definitely die.

Not to be a downer, but it’s also possible that despite doing all these great things, you might die. It’s OK though, because everybody dies eventually, and the sooner you accept that and deal with the reality, the better. Once you have prepared yourself for death, you can better live a full and complete life.

Speaking for myself, I don’t particularly want to die, but I’ve come to terms with it. We talk about it with our children, so our children aren’t afraid to talk about it with us. We don’t need to hide from death, and we don’t hide it from our children.

The children issue

If you have children, give them some credit. They are capable of having these kinds of discussions. They can talk about death, disease, pandemics, and all these issues that we like to shelter them from. We can be honest with children and still shelter them at the same time. Don’t be afraid to tell them your concerns, but remind them how you will always do everything within your power to protect them.

There’s a lot of death in my family. (Don’t feel sorry for me.) Fun fact: this is exactly where I will be buried!

Be practical

It also doesn’t hurt to prepare for death in more practical terms. What will happen if you die? Will your family be burdened with the cost of dealing with your body, burial, and all that stuff? I’m speaking to myself on this one too! We’ve purchased our plots — we did so when we lost a baby 8 years ago, but beyond that, haha, good luck kiddos, you’re going to have to deal with everything else!

If there’s one thing that was particularly memory about my grandfather’s death (aside from him, you know, dying . . . with his jaw hanging open), was as soon as it happened we called Neptune Society and they took care of everything. We didn’t have to worry about anything. Well, I pushed his mouth back up and sorta tried to hold it there to see if it would stay closed. But aside from that.

Conclusion

So there you have it, there are your five simple steps of how to survive a pandemic. I think it can mostly be summed up as: don’t sit on your bum watching Netflix all day. DO SOMETHING.

EducationProductivitySelf-Improvement

high-five with cat

Well folks, that’s it. January has finally ended. And with that, most people’s resolve to meet their list of New Year’s Resolutions has also ended.

groundhog day
But hey! We survived Groundhog Day!

OK, maybe I’m jumping the gun a bit. It’s actually mid-February when most lose their resolve. But that’s not really the point here anyway.

The question is: WHY do people lose their resolve?

What are some of the things lots of people resolve to do on that Great Day of Resolution? According to Time.com, the Top 10 broken New Year’s Resolutions are:

  • Lose Weight and Get Fit
  • Quite Smoking
  • Learn Something New
  • Get Out of Debt and Save Money
  • Spend More Time with Family
  • Travel to New Places
  • Be Less Stressed
  • Volunteer
  • Drink Less

Do you see any problems with this list?

These resolutions are HUGE. They require major life changes.

Don’t get me wrong, I think these lofty goals are great, but trying to reach the height of that goal on day one is like trying to eat a 12-foot subway sandwich in one sitting. It’s just a really bad idea.

Seagull eating a starfish
Or this seagull trying to eat a massive starfish

It’s not impossible for one person to eat a 12-foot sandwich, though. How, you might ask? Well by taking one bite at a time, of course!

Now a more practical application: habits. In order to make a major change in your life, you need to create or change a habit. Trying to do that isn’t easy, but it can be done if you break it down into little tiny pieces. Let’s look one of the resolutions on the above list: Learn Something New.

Some people might jump to the conclusion that you should go out and sign up for a cake decorating course or take on reading a complex physics book and then force yourself to finish these regardless of whether you like to or not.

smoking lamb cake wreck
It’s OK, cake decorating isn’t for everyone.

But what if there’s a better way?

You want to learn something new, so why don’t you find a five-minute educational that you can listen to while you’re getting ready for work every day or before you turn the lights off for bed? Or how about you find a book full of interesting facts and read just one fact per day before bed? These are easy things to do and require very little effort, but they’re still steps on a journey of learning new things.

Gosh, this book would be a great start.

Every time you accomplish this task, give yourself a high-five, pat yourself on the pack, or any other kind of positive affirming message. Yes, I know this sounds cheesy, but it’s an important part of enforcing the good habit.

Do this daily and you’ll have created a new habit, and that itself the hardest part. Once you have the habit in place, you can increase the time you spend on it as you like.

high-five with cat
Don’t forget the high-five. It’s crucial.

There’s no timeline for doing this, you just move forward when you are ready, but you are still accomplishing a goal: learning something new.

I think at some point the 12-foot subway sandwich analogy breaks down, because no matter what, you’ll still (probably) never eat it all in one day, but I think you’re all smart enough to get what I mean.

submarine sandwich
It’s temping to try though, right?

If you want to read more about building better habits and breaking bad ones, check out this episode of Hidden Brain: Creatures of Habit: How Habits Shape Who We Are — And Who We Become. In fact, if learning something new DOES happen to be your New Year’s resolution, I recommend the whole Hidden Brain podcast series!

CommunicationEducationUncategorized

I love riddles.  Give me a book of riddles and my productivity tanks as I spend the rest of the day thinking about them.  I love old riddles, new riddles, and I especially love creating riddles.  My wife and I will try to stump each other with riddles for hours and we even created our own riddle game where one of us thinks of a punchline for a joke and the other person has to create the setup.  (It’s great for long road trips.)  But why do we riddle?  What purpose do riddles serve?

Riddles Unite Us

Sumerian Mosaic

Riddles serve to pull us together.  Throughout human history, riddles have been a part of life.  All cultures have them and many riddles have been shared across cultures and languages.  The riddle of the sphinx comes from Greece originally but versions can also be found from Estonia and even on the Marshall Islands.  This connection with people across cultural and linguistic divides helps us to understand them and to see how similar they are to us.  it transforms them in our minds from the Other to the Same.  Riddles even bridge the gap of time.  As long as there as been English there has been people telling riddles in English.  But going back to the dawn of written language we even have riddles from the ancient Sumerians.  Here’s an example:

A house based on a foundation like the skies
A house one has covered with a veil like a secret box
A house set on a base like a goose
One enters it blind,
Leaves it seeing.

The answer?  A school.

So in a sense, we ask riddles because we always have.  Asking and answering riddles is a part of the human experience.  It unites us across cultures and eras and helps connect us to them.  We can now say that the Sumerians valued education just as much as we do.  All from one short little riddle!  That still doesn’t really answer the question though.  The unity riddles give us is a powerful effect of riddles, but it is only one effect. It is not the purpose behind them.  What is that purpose?

Why Tell Riddles?

Oedipus and the Spinx
Um… Uh… A really weird cow?

Ultimately, riddles teach us.  They teach us essential problem-solving skills when we’re young and they help us enhance those skills when we’re older.  Sometimes riddles teach you that the answer was hidden in plain sight.  Which word in the dictionary is spelled incorrectly?  ‘Incorrectly.’  These sorts of riddles rely on double meaning.  What can travel around the world while staying in a corner?  A stamp.  Some riddles rely on clever metaphors.  The riddle of the sphinx is a classic example.  What walks on four legs in the morning, two at mid-day, and three in the evening?  A person.  No matter what trick the riddle uses, when you’re told a riddle you know it’s a trick.  You know the answer is hiding right behind it waiting to be discovered.

There’s an even greater challenge in creating a riddle.  A good riddle is solvable but not too solvable.  If there isn’t an answer, then it’s not really a riddle.  If it’s too easy to find the answer, the thrill of the chase is gone.  When you create a riddle, you have to solve it yourself without any clues.  You need to figure out what the twist is going to be and then build the riddle around that.  And once you know the answer to your riddle.  You just have to figure out the question.  So both solving and asking riddles requires creativity and helps us train our brains to think laterally.

Riddles in Life

The lateral thinking that riddles give us is essential to success in the modern world.  Unexpected problems crop up all the time and they usually require unexpected solutions.  If you’ve trained your brain to be prepared to think laterally, to step outside of the box and wrestle with your problems, you’ll be better equipped to solve them.  Whether it’s figuring out what’s wrong with the code in your program, discovering a way to stay under budget in your department, or even finding the best angle to chop down a tree, lateral thinking and problem-solving skills are essential for success in life and enable us to take charge in our lives and deal with our problems head on.

A very real example comes to us from the 19th century.  Until less than two hundred years ago it was a point of professional pride for doctors to never wash their aprons since they showed how experienced they were.  To make matters worse, they’d only wash their hands at the end of the day since they knew they’d just get them dirty again.  The high infection rates in hospitals were attributed to stale air but the real source of the problem was completely unknown even though it was right in front of them.  Along came Dr. Joseph Lister.  He was able to step outside the box of accepted medical practice and so he realized that the lack of hygiene was the real culprit.  He was gradually able to convince others and the changes he made to the medical industry saved countless lives and he is now called the father of modern surgery.  If he wasn’t able to think laterally, how many more people would have died from easily preventable causes?  While the situations we’ll be faced with in our daily lives generally won’t be that dire, lateral thinking is still just as necessary for us now as it was then.  Without keeping our brains sharp we won’t even know what problems we’re missing, let alone how to solve them.

The Bayeux Tapestry

As a final thought, I’ll leave you with this Anglo-Saxon riddle from the book of Exeter.

I am an eminent thing, known to nobles,
and I often abide, notorious among the people,
both mighty and poor, traveling widely,

standing a stranger at first 
to my friends, a plundering hope—
if I must keep hold onto the profits 
or a brilliant good in the cities.

Now wiser men love me the most,
my companionability. I must reveal wisdom
to the multitudes. They never speak there,
any of them across the earth—

Although the children of humanity,
of the land-dwellers, pour over
my tracks, I conceal
my footsteps from every man
at times.

FutureTechnology

Technology is taking over the classroom and there are a lot of opinions, policies, loopholes and rebellions. Its messy and can be frustrating, but it is an issue every teacher and student go in this day and age and I would like to touch on the subject.

 

In the average North American classroom today, there is a laptop for the teacher and maybe a smart-board. The students might have iPads or laptops available to them, or the school supplies list requested such devices. It is apparent, tech is used in the classrooms. These tools are a benefit to the learning experience of students and for the teaching efficiency of teachers.

The issues arise when it comes to the smartphones. On average, children age 10 get their first smartphone. Though I would assume before that age, kids are immersed into smartphone use. And we all know that come high school, students are practically attached to their phones. It’s no wonder why teachers are banning phones from their classrooms. No one wants to teach a room full of students with their eyes glued to their personal 5 by 2 inches of screen.

 

But here is why I stand on the progressive side of things. Kids with smartphones will one day be adults with smartphones. Who is going to teach them how to best use their smartphone?

 

I know this is a real issues because of the elderly. They have trouble understanding their smartphones, the correct purposes of them and therefore they make avoidable mistakes. For example, at times my grandparents will interrupt a conversation to investigate a notification they receive, whether it is important or not. They are found to spend too much time on their phones than is appropriate in social gatherings. Plus seniors are adding themselves into the social media world and they post, comment and share as often as the rest of us, just with less of a filter, for better or worse. (No wonder people can’t stand Trump on Twitter.)

 

I love my grandparents and the other elderly in my life, they are great at many things, but they are definitely lacking in the best ways to use their smartphones. Though they deserve some slack, they didn’t grow up with these devices, giving them the chance to learn what is appropriate and what is not.

 

Now considering our current students, would we not like to give them the education about phones they need in order to be socially correct, polite and efficient?

 

One would like to think parents and others in the leadership positions of children to be perfect examples of phone efficiency and etiquette. But we all know we are less than perfect ourselves when it comes to using our phones politely. Texting and driving, being on phones during meetings and other social gatherings, taking information on social media too seriously and forgetting where we are or what we are doing because our phones can distract us are not good demonstrations for the leaders of tomorrow.

 

Should we not take full advantage of the learning environment school provides to teach about the best ways to use  the smartphones they already have in their pockets? Imagine the issues that would cease to exist! Their generation would look at ours and wonder why WE use our smartphones so poorly.

 

I am not suggesting full out courses on smartphone etiquette. Though I’d imagine a couple classes about phones at a younger age wouldn’t hurt. But I am recommending smartphones be used in the classroom. Due date reminders, Google translate, a second way to view the textbooks, calculator, camera, calendar, research, etc. are all simple ways we use our smartphones everyday, why not teach tomorrow’s adults how to use these tools best?

 

Today, students with smartphones are punished for bringing their smartphones to school which is understandable, as currently there is no lesson plan to implement the smartphones into the teaching. But as you can see, I believe this needs to be changed.

 

At Panda Rose, we are often using smartphones as they are needed to develop and test Apps and websites. We understand the importance of them for our world today and moving forward into tomorrow.

I am aware that I am not in the classroom right now attempting to get the full attention of  two dozen 10 year olds. While there are hero teachers doing just that right now and we all applaud you. Who am I to tell you that your students all need smartphones at their desks?

 

Teachers know their students and will make the best decision for the entire class. Whether that means a no phones allowed rule, that smartphones can only be used in English class for dictionary and thesaurus uses or only at the end of the day to set up reminders and events to replace paper agendas.

 

Depending on the class, smartphone policies could be applied to fit the teacher and student needs as well as be a prime time for students to learn smartphone etiquette.

 

Let me know your thoughts on children using smartphones in classrooms, this subject is worth the discussion.

 

Tessa Houcher