OBJECTIVES AND GOALS – THE BUSINESS OF BUSINESS

What I have to say below on the topic of Objectives and Goals (and the differences between the two) was sparked by a Linked In post on a Consulting Blog. What follows is my response to the question posed on the blog:

 

OBJECTIVES AND GOALS

To me these words have very specific, practical definitions for my own Work, though they might very well be used interchangeably by clients or others. By my own definitions, which are pragmatic and geared towards utility, an Objective is a wide-scale enterprise or endeavor, strategic in nature, and therefore separate and distinct from a Goal which is carefully and tightly targeted and tactical in nature.

Let me use a warfare analogy. An objective might be to “take a town,” (I am using a narrow strategic objective, whereas it could just as easily be that my objective is wide-scale, to “defeat an enemy”) but my goals in doing so might be as follows: cut off enemy resupply routes, attrit enemy forces, reduce the number of enemy fortified hard-points, and constrict enemy fuel and power resources. Each Goal then is a clear and very specific and tactical aim which when taken all together, and if each is successfully executed then I achieve my overall Objective (which is strategic in nature.

I could use the very same type of analogy and apply it to a business or investment enterprise. Suppose I or my client wanted to begin a new start-up. The Objective would be to obtain sufficient Capital and investment to properly fund operations thereby increasing the odds of a successful launch and the building of a profitable enterprise.

My specific goals therefore in pursuing this strategic Objective would be as follows; construct a viable business plan with acceptable financial projections, create a pitch capable of exciting investors, secure angel or venture capital sources to fund the project, develop a strong operational team to run the day to day business operations of the Start-Up, etc.

Each goal to me therefore has a very specific and tight aim which I can easily measure and that contains a very specific time-frame for completion. Complete all of the Goals successfully, or most of them successfully, and you eventually reach your Objective which is also successfully concluded and obtained.

Therefore to me Objectives are always strategic and large-scale (and because of this somewhat flexible in nature), whereas Goals are always specific and targeted and tightly measured.

Objectives to me are always Objective (in nature, as is implied by the denotation of the word) and general but state the desired end-point aim, whereas Goals are always tactical, pragmatic, (and to some degree subjective in nature) and consist of the necessary sub-components used to achieve the overall Objective.

The point to me is a pragmatic and practical one, to differentiate between the overall strategic Objective and the specific and tactical Goals necessary to obtain that Objective.

In that way you neither confuse your Goals and how they operate, nor do you lose sight of your True Objective(s).

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Ardbrin Enterprise Goals Optimisation Platform

ARE OBJECTIVES AND GOALS THE SAME THING?

Ok, so let’s be pedantic for a minute. Are goals and objectives the same thing? Their usage seems to cause a certain degree of debate, and this is certainly the case amongst our own team. Both words describe things that a person may want to achieve or attain but are used specifically at certain times and situations for differentiation. Some would argue that goals are broader than objectives as goals are general intentions and are not specific enough to be measured, whereas in most cases objectives are measurable. Or some would say that goals are longer term with objectives being used on the short to medium term.

 

Regardless of whether we choose to use the word ‘goal’ or ‘objective, in order to get the best results, they must all be measurable. At Ardbrin, we have drawn our own conclusions and use the word ‘goal’ in our model, but only because it’s shorter and easier to spell! All of our goals are measurable as we apply SMART criteria to them. For us therefore smart goals = objectives. In case you need reminding, SMART is the acronym for specific, measurable, assignable, realistic and time related. So when we speak to our customers, our advice would be to have the confidence to use either word interchangeably, as when it comes to strategic planning we know what you mean.

THE BOOK OF PLANS – BRAINSTORM

THE BOOK OF PLANS

It’s a very interesting process (the process followed in the video) but also extremely complex, expensive, and time consuming. Over time and as I have aged I have learned that simplicity, not complexity, is in my opinion, what actually yields both more productivity and more profit on most enterprises and projects and endeavours. Therefore I tend to eschew complexity nowadays. Plus, complexity tends to be both highly redundant and very expensive. For instance if you want intact copies of each book in your library then you have to buy two copies of each book to execute this process.

 

Not that I don’t think this process would yield valuable results, especially the fact that he reviews books while his heart rate is up, etc. (his data absorption process) but my information preparation and absorption process is extremely simple by comparison.

 

I simply take a book, go through it as he said early in the video and highlight everything that is useful and practically applicable. Then I distill each highlighted chapter or section or paragraph or item into a single sentence which contains an actionable premise or instruction set. In this way I can distill a single book down to a Single Plan of perhaps 8 to 12 Actionable Points (sometimes also containing some side-notes explaining the most relevant new information). I also tend to place each plan in Chronological Order so that each plan can always be followed in the most logically progressive manner. See this entry for more detail on what I mean: 8 to 12 Point Plan.

 

In this way, over the years, I have created literally hundreds of Plans of various types of information, processes, and actions (derived both from my own experiences and from information obtained from books and other sources) which when they are all combined together in a single source I call my Book of Plans. (Again, as I have aged I have become far more interested in how information can be practically and usefully and profitably applied than in “information” as a principal or principle or component in and of itself.

 

I also sub-divide my Book of Plans into chapters relevant to what most interests me in a given Field. For instance I have chapters on Business, Art, Invention, Technology, Science, Religion, Exploration, etc. and each chapter may have 30 pages (or more or less depending on the subject matter) of plans in it with each page being a separate plan on a particular subject.

 

That is my method. It is simple, fast, data-targeted, actionable, inexpensive, and when necessary it is extremely easy to review each plan in order to follow my Plans or to pick back up again from where I had previously left off operations.

Taking Your Business & Yourself to the Next Level

yosef meged

A chance meeting happened in the crowded courtyard restaurant of an Italian palace where a man waiting for his tab allowed us to share his table.

We spoke.  The man is an architect.  We both had watched the show “Grand Designs.” I told him of my grandfather, who was the first municipal architect of Tel Aviv. When he asked about my work, I explained   “people ask to speak with me.”

Without further prompt, he told me that he wanted to take his business to the next level and we exchanged contact information.

How am I to frame the conversation we just agreed to have?  I see framing it as my responsibility given that he has already asked his question.

Here, then, is the first step of taking your business to the next level.

Typically when a client asks for help moving up to the next level, they are thinking of…

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More information less attention

What is behavioral? A blog of recent updates to behavioral economics

Economics of Information Overload: Thoughts from Herb Simon

I tend to think of information overload as a 21st century problem, but serious folks were talking about it almost 50 years ago. In an essay published in 1971, Herbert A, Simon (who would win the Nobel prize in economics in 1978) offered the insight that “a wealth of information creates a poverty of attention.” Simon’s 1971 essay on “Designing Organizations for an Information-Rich World” appears in a volume edited by Martin Greenberger called Computers, Communications, and the Public Interest Johns Hopkin Press, 1971, pp. 37-52). Here’s the context for Simon’s remark, and a few other thoughts from his essay and his comments in the panel conversation that followed that caught my eye ….[READ]

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China investors brace for stock market free fall

Joanna Chiu

Beijing (dpa) – China has rolled out a dizzying array of stimulus and loosening measures this year, including multiple interest rate cuts and this month’s surprise yuan devaluations.

But investors are increasingly showing signs that they don’t believe the government will be able to bolster growth as the world’s second-largest economy slows down.

“I have sold off most of my China shares and I am planning to invest in overseas companies instead,” said Mason Zhao, a Beijing-based investor.

On Monday, the benchmark Shanghai Composite Index dived 8.49 per cent to close at 3209.91 points. It was the biggest one-day fall since February 27, 2007 during the global financial crisis.

The tumble followed a tumultous week that saw the index fall 11 per cent.

“China is trying to adjust to a transforming economy, but it is going to be difficult to improve the situation,” said Hu Xingdou, professor of…

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$5 Million Revenue In Just One Startup Pitch

StartSoc

Great story this one. It just goes to show you don’t need to take the money from the first investor to show interest in your business. And the benefits of pitching are way beyond the obvious ones.

The DoorBot founder Jamie Siminoff (he has now renamed his tech startup to Ring) learnt the ‘hard’ way on Shark Tank and also from Richard Branson.

Read the full article on Business Insider Australia –

http://www.businessinsider.com.au/ring-from-shark-tank-to-richard-branson-2015-8

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“One Foot Hanging Over the Brink of Failure…”

Two-Minute Tune-Up

This is part of a Napoleon Hill quote about achievement.

I’ve lived like this for a long time, but now I know it is a normal state. Thinking it was abnormal caused me all kinds of problems such as…

  • Quitting
  • Giving up too soon
  • Getting discouraged and bitter
  • Comparing myself to others who appeared to have it easier
  • Refusing to make adjustments and try again
  • Beating myself up for failing

What a feeling of freedom it brings to know it’s all good!

images (52)

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What is the real unemployment rate in China?

Fortune

The Western world has long been frustrated by the lack of reliable government data on the Chinese economy, and there is no statistic less credible than the nation’s official unemployment rate.

As the Financial Times put it earlier this year, “China’s official unemployment statistics are the worst of a notoriously unreliable set,” pointing out that the unemployment rate has fluctuated between just 4% and 4.3% despite the fact that quarterly, year-over year growth has been as high as 14% and as low as 6%.

Everyone knows that the unemployment rate in China isn’t 4%, but nobody can agree on an alternate measure. This week, in a working paper for the National Bureau of Economic Research, Feng Shuaizhang of the Shangai University of Finance and Economics and Hu Yingyao and Robert Moffitt of Johns Hopkins University try their hand at estimating the real unemployment rate in China.

The results are…

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Venture Capital Firms – An Emerging Financial Source For Small Businesses Or Start Up

Vickers Venture Partners

logoWith the changing of time, way of doing business also witnessed some great changes. Today, venture capital firm is highly in trend and for being an important source of getting financial assistances especially for those of small and start up businesses. These firms are generally investors offering financial assistances to such firms.

Venture capital companies are also termed as a perfect source of external funding and they also offer a great and long-term effect to the start-ups. A large number of venture capital firms are now operating in the business sector in a proper way and this article is going to focus on some top such firms that are highly beneficial for small businesses that have actually just started their businesses and also need money for expanding their network.

Located in Singapore, Vickers is an emerging name among some top capital firms. It offers venture capital assistances to those of…

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Patent Reform: Politicians versus Inventors

ideaworth

Much has been written about “patent reform” and there are plenty of high-octane opinions, many of which are well-intended, but misinformed.

I put parentheses around patent reform because reform means very different things to different people. Put another way, appropriate solutions only emerge when the problem at hand has been accurately described and defined in objective terms.

Description: the US patent system does not work as well as it should or could and should be refined or reformed.

Almost everyone would agree with the above statement, politicians and inventors alike.

Here is a simple query: please describe and define the problem (that calls for patent reform) as clearly and objectively as you can. Here, from my perspective, are the two most common answers:

Politicians and Pundits:

Non-practicing entities, especially so-called patent trolls, may accumulate huge portfolios of patents and then file patent infringement lawsuits targeted to major corporations resulting…

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Japanese engineer invents the world’s first ‘Car That Fits in Your Bag’

TEAM YELLOW

Next Shark (by Laura Dang):

Japanese engineer Kuniako Saito and his team at Cocoa Motors have developed a small portable transporter that Saito claims to be the world’s first “car in a bag.” The thin WalkCar transporter, which can fit in a backpack, is made from aluminium and weighs between 4.4 to 6.6 pounds, depending on its use for indoor or outdoor purposes.

Saito, 26, and his team recently showcased the lithium battery-powered device that resembles a skateboard and is about the size of a laptop computer, reports Reuters. Its maximum speed is 6.2 miles per hour with a distance of 7.4 miles when fully charged after three hours.

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How to stop working for others and start working for yourself

David Mellett

I’ve met with a few people recently (you know who you are) who would love to do something entrepreneurial but cannot imagine themselves leaving the security of their current jobs. As a result, I decided to write this blog to inspire them to prepare for the transition and help them make the seemingly impossible, possible.

3 different exit strategies

Crazy as it may sound to some, I didn’t have a plan about what I would do prior to leaving the company. In fact, that would have been virtually impossible for me to do. Over the years, I have seen 3 distinct paths for people who left the companies I was working for:

Collaborative economy Belgium

  1. They found a job while they were in a job. The job they found was more or less doing the same thing in a different company. In general, they stay within the same sector and hope to get a…

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KINGFISH from THE BUSINESS, CAREER, AND WORK OF MAN

THE KINGFISH

You may live as the King Fish in a small pond for as long as you wish but one thing you will never do is cause the pond to grow any larger. Therefore if you would truly reach your real mass you must swim for the sea.

IN NEED OF

IN NEED OF

I am in immediate need of the following things:

  1. BETA READERS for my fictional writings and novels and (if you wish) the poetry and songs that I intend to publish. I want only brutally honest opinions, and I want a wide range of readers/reader-types. (There will be no pay but I will exchange favors and see to it that you are provided with free copies of the finished works). Confidentiality regarding my writings will be expected of course, and I will restrict my beta readers to maybe 6 to 8 people, but I will treat you right.
  1. A good, decent, hard-working, and ambitious LITERARY AGENT (to match myself).
  1. An EMPLOYEE TEAM for my start-ups. (People to run the businesses, handle marketing, and run day to day operations while I and my partners handle funding and investors, etc.) More on that later.
  1. A TEAM OF BUSINESS BUILDERS/DEVELOPERS AND INVESTORS (start-ups primarily but we may also handle brokerage and turn-arounds on rare occasions) to be put together to found and profit from new business ventures. More on that soon.
  1. PARTNERS to work with me on developing and designing (CAD and prototype designs) my inventions and app designs.
  1. GAME DESIGN PARTNERS who can take the games I’ve designed and/or written and either build physical products out of them or in the case of computer and video games program basic builds that we can use to pitch to game studios.

 

A brief word of explanation on the above:

Beta Readers – I tend to write my fictional works, short stories, and novels in the following genres: children’s stories, detective and mysteries, espionage, fantasy and myth, historical fiction, horror, and science fiction. My current novel is a high fantasy/myth about Prester John and the Byzantine Empire. I tend to insert a lot of historical and literary references into most of my works. I would not expect my Beta Readers to provide me with detailed critiques or edits, though if you wished to do so that’s up to you. I’m really just looking for basic opinions and do you like the plot, stories, works, etc., and do you have any advice for improvements? As I said I’m open to favor exchanges and free copies of my works.

Also, when it comes to my songs I write the lyrics but I have no real time right now for composing. If you are a composer or lyricist and you wish to enter into a song-writing partnership with me then we will split the credits and your contributions and shares of any successful songs will be protected by contract.

Literary Agent – I want a literary agent with a wide range of interests and one with whom I can develop both a professional relationship and a personal friendship. (I much prefer doing business with people I enjoy.) I want a literary agent who is ambitious, as I am, and one who can help me make my writings successful so that we may both profit handsomely.

Employee Team – more on this later but I’m looking for a good employee team as well as a strong, tight, efficient, and profitable team of administrators, managers, and officers.

Business Builder/Investor/Investment Team – more on this later but I need good people from all areas/sections of the country, and possibly members from outside the US, who can look realistically at start-ups and help develop and fund them into successful enterprises. Backgrounds in brokerage, business building and development, communications, entrepreneurship, investment, and deal-making most desired. But we can also look at other backgrounds. Realistically risk will be high, and loss always possible, but profits should be considerable on successful ventures. This will be both a business creation and development and investment team, sort of like an Investment Club but with a far wider range of interests and with more hands on developmental involvement.

Invention Partners – partners in design and prototyping and product development. We’ll start out with my inventions and maybe yours as well and possibly graduate to taking stakes in other inventions and related businesses if the idea seems solid and viable.

Game Design Partners – people who can take my game designs, and your own, and build programs or physical products out of them. Depending on how much you contribute we’ll take profit shares on sales of the games, regardless of whether it is by the game or we sell the designs outright. As with the inventions your work will always be attributed in the design and protected as a share of profit by contract.

Finally you should know that in working with me my very basic and fundamental Worldview is that I am a Christian by religion, spirituality, philosophy, and nature, a Conservative (with some strong Libertarian leanings) in cultural and political and social matters, and a Capitalist when it comes to economics and monetary affairs.

Therefore I am a disciple and proponent of the teachings of Christ (Truth, Justice, Personal Honor, Honesty, and Fair Treatment of all based on individual behavior are extremely important to me, and I tend to like Charity and Philanthropy), God is my mentor and my best friend, I am Conservative in nature and very much believe in Hard Work and Personal Effort and Individual Initiative and Self-Discipline, and I am pro-Business, Development, Entrepreneurship, and Wealth. I also like to see people exploit their own talents and benefit and profit thereby. I set extremely high goals for both myself and others, and I expect much, but think I am fair and just to work with. I do discriminate and unapologetically so, but not regarding matters of background, class, race, or sex. I only discriminate between good and bad behavior, and between industry and laziness. As a boss or partner I will not long endure intentionally bad or destructive or self-destructive or foolish or apathetic behavior. I am not at all bothered by failure if you seek to improve and advance the next time.

If that all sounds fine by you and you are interested in any of these ventures then please contact me via email or by my Facebook or Linked-In pages or through my blogs or other webpages. We’ll begin Work.