In the hectic world that we live in today, you’ll probably think that multi-tasking is a skill to be admired, something that’s even necessary! If that’s the case, then this article probably isn’t for you. True, there are times when there are just too many things to do and multi-tasking seems like the only way to get them done. But for the things that are really crucial, focus and concentration is the name of the game, particularly in business.
A successful entrepreneur doesn’t multi-task, and this is a fact!
Definitions first. Multi-tasking is defined as juggling two or more tasks at the same time in an attempt to finish as many tasks as you can in the least amount of time. Simply put, it is man’s ability to perform more than one activity at the same time.
A classic example involves writing an e-mail, answering a phone call, sipping your coffee, and “mouth-signaling” your incoming visitor to stay on the couch while you finish the call. That’s four tasks all at once. Amazing, right?
Multi-tasking isn’t all that bad, especially when the things you’re doing do not need any special attention. But you do have to remember that while you’re doing all these things, you won’t be able to take give critical eye on everything you do. This isn’t a good thing for a serious entrepreneur.
What a successful entrepreneur needs is full concentration. Just imagine yourself talking with a customer. It wouldn’t be nice on their part if you were talking to them and at the same time doing something else like checking your phone, or reading an e-mail.
The Switching Cost: What it Takes To Switch from One Task to Another
The effect on the human brain of multi-tasking and its effects on productivity have long since been studied by experimental psychologists. Studies have shown that there is a “switching” cost of four minutes to get back to maximum productivity in between switching tasks. Get back to the first example. It will take you approximately sixteen minutes to complete a cycle of multi-tasking with maximum productivity. For a serious entrepreneur, those sixteen minutes is too much to waste.
Knowing that, would you still think that multi-tasking is a good thing for you and your business? True, a serious entrepreneur just has too many things to do, and sometimes 24 hours a day just isn’t enough.
Any serious entrepreneur would agree that they are more productive when they finish a task one at a time. Think of the advantages of doing such. You will surely get less stressed out since you have focused all your thoughts on one thing. As you tick off items from your to-do list one by one, you have lesser things on your mind. You know, this could even be the secret to become the most successful and most serious entrepreneur!
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While a weak employment report last Friday (April 4, 2008) seems to confirm the U.S. economy is in the early stages of a recession, investors that are looking at the longer term are already thinking about which stocks will work best for a recovery.
Many are saying that the future might be brightest for one of the worst performing sectors this year – technology – and one of the best – energy. And they’re also finding things to like about health-care stocks.
Although worries about the economy still loom over the stock market, there were hopeful signs last week as the Dow Jones soared nearly 400 points on Tuesday, April 4. The 8th largest gain for the Dow in it’s history.
Still, this month could be challenging as companies report first-quarter earnings and issue their expectations for the rest of the year. Many on Wall Street believe that earnings expectations for the second half of 2008, with forcasts of double-digit percentage growth, are too high and the U.S. market remains vulnerable to disappoint if those forecasts don’t materialize.
Some had been looking to financials to help lead the stock market out of it’s downturn. While stability in bank and brokerage stocks may be necessary for the market to head higher, the kind of earnings growth that powered strong returns on financials in recent years now appears to have been driven by borrowing and moving certain assets off their balance sheets.
With the severity of the credit crunch and a downturn in consumers ability to spend, a steady flow of good news that would fuel a sustained rally may be in short supply for months.
But the steps taken by the U.S. Treasury and Federal Reserve to stabilize the financial system have some investors thinking that the worst of the selloff could be over. They were encouraged by the market’s calm response to last Friday’s, April 4, employment report showing a loss of 80,000 jobs in March 2008.
Technology companies are at the top of the list of many Fund managers. The sector that was expected to be strong this year, is down 15% since the S&P 500 hit it’s all-time high in October 2007, making it among the worst performers of the indexe’s 10 sectors.
Tech companies have been hit way too hard. The reason behind this is suspected to be in investors thinking back to the last recession when holding tech stocks was the worst possible strategy. But the market shouldn’t underestimate the profit growth this sector can generate over the longer term. Techs could miss expectations this year, but not for the next 2 -3 years!
One factor for the recent selloff of tech stocks is that financial companies traditionally are big buyers of new technology and their ability to spend might be compromised by their losses from the credit crunch and the economic slowdown.
And talking about health-care stocks. Some Fund managers are shying away from the big pharmaceutical companies that face the continuing problem of big drug products losing their patent protection. Instead, these Funds are taking a liking in biotechnology or medical equipment makers because whether it’s fixing the eyes, the knees or fixing hearts, there’s always going to be a tailwind from an aging population.
Yours in Successful Trading,
Ricky Schmidt’s website http://www.stockbreakthroughs.com was created out of frustration in trying to decode books, magazines and newsletters on the subject, which are supposed to be for beginners but are not because they’re too difficult to understand. Too many “Big Words” and too much intelligent sounding grammar is used which is not very useful.
It is common knowledge that the economic relationship between Mexico and the United States is significant in terms of its scope and the diverse nature of the activities that it entails. It also represents a significant dollar value on an annual basis. Most of the trade that transpires between the two nations does so on eighteen wheels. After Canada, Mexico is the second largest export market for U.S. goods according 2012 numbers published by the Department of Commerce’s Census Bureau, Foreign Trade Division. On a granular level, it is interesting to note that in 2010, the U.S. and Mexico conducted daily bi-lateral trade in goods that valued approximately US $ 1 billion. In that same year, twenty-six states in the Union shipped exports totaling more than one billion dollars to Mexico, while NAFTA-related trade has added 1.7 million jobs to the U.S. economy since its inception. All of the above clearly evidences the present and future value of maintaining and expediting the smooth terrestrial flow of commerce and trade between the U.S. and Mexico. Although U.S. – Mexico logistics and cross border trade is substantial and highly lucrative for both countries, there are certain limiting factors that have the potential to prevent the trade relationship from realizing its substantial long term promise.
A major fly in the U.S.-Mexico trade ointment today has to do with the issue of the time it takes commercial carriers to cross their product filled conveyances from Mexico into the U.S. and vice versa. For those that are not involved in the business of cross border trade this may be surprising, but congestion at U.S.-Mexico ports of entry results in long wait times. The cost of these wait times and delays ultimately get built into the price of products sold in the marketplace. In essence, the added cost of products due to delays in shipping at the U.S. – Mexico border might be considered to be a “congestion tax,” of sorts that makes goods more expensive to consumers, and items shipped from the region to other parts of the globe less competitive.
U.S. and Mexican policymakers are aware of the economic cost of extended border wait times at commercial ports of entry and are seeking ways to speed up the wheels of commerce and move product filled semis between the U.S. and Mexico at a faster pace. In April of 2012, Senator Kay Bailey Hutchinson sent a letter to the U.S. Comptroller General, Gene L. Dodaro. In the communication, the Senator directed the U.S. Government Accountability Office (GAO) to conduct a study on how to reduce border wait times and the negative economic impact that they result in.
In addition to public sector action on the federal level focusing on the issue of U.S. – Mexico border crossing wait times, the private sector, as well as local municipal authorities, have also stepped in with pooled resources to contribute the energy and innovation that will be required to mitigate the problem and to cut the economic losses that result as a consequence of maintaining the current status quo. El Paso and its business community are taking the lead.
In fourth quarter of 2012, the city of El Paso initiated a pilot program aimed at speeding up the transit times of commercial carriers at the U.S. – Mexico border with a local company, Secure Origins, Inc. The City contracted with the company for the amount of $ 190,000 to fund “Project 21.” Through Project 21, it is the goal of the leadership and staff of Secure Origins, Inc. to work with U.S. Customs and Border Protection (CBP) at the Ysleta border crossing at El Paso – Ciudad Juarez to create the “model port” of entry for the transaction of commercial shipments between the two countries. In addition to seeking to speed up trade at the border, Project 21 also looks to combine the efforts of government and the private sector to meet national security goals that have emerged in the wake of 9-11. The CBP’s Customs-Trade Partnership Against Terrorism (C-TPAT), as well as its Fast and Secure Trade (FAST) programs have both been designed to achieve this end.
Thus far, efforts made jointly by the city of El Paso, Secure Origins, Inc. and the CBP have begun to produce clear and visible results. While commercial carriers at other ports of entry at points along the U.S.-Mexico border may experience wait times of up to 90 minutes, trusted shipments at the Ysleta Port of entry that move between El Paso and Ciudad Juarez are consistently passing through both the U.S. and Mexico crossings within a twenty minute window.
Mexican trade officials and organizations have also joined the collaborative effort to move trucks back and forth across the shared border with greater alacrity. Mexico’s Aduana (Customs) and its Federal Motor Carrier Safety Administration (FMCSA) are among the agencies on the south side of the border that are actively involved in cross border shipment inspections, as well as in collaborative efforts with both U.S. government and private sector entities to secure supply chains and speed up trade flows.
Through Project 21, Secure Origins, Inc. and its public sector partners endeavor to create the “model port” that achieves the primary objective of reducing wait times experienced by commercial carriers at the U.S. – Mexico border, but also succeeds in:
Bringing about increased profitability of businesses participating on all levels of the international supply chain
Cutting company costs, thereby enabling manufacturers to pass down savings to consumers in the form of more competitively priced goods
Reducing truck emissions and improving the environment in the neighborhoods surrounding commercial border crossings, thereby having a positive effect on public health
The “nuts and bolts” put into place via Project 21 to date include the creation of special “Frontier 21” lanes at the Ysleta commercial crossing that segregate commercial and passenger vehicle traffic; the design optimization of physical infrastructure at the border crossing; an increased participation by the local trade community in the CBP’s C-TPAT and FAST programs; as well as the incorporation of information technologies that improve overall supply chain transparency, and establish and protect the integrity of trade related information flows.
As regards the last point, Secure Origins, Incorporated has established an El Paso-based “command center” from which it can readily observe and monitor shipments, as well as detect any related anomalies. Secure Origin’s technology also empowers the company to collect detailed crossing related data which can be used in efforts to identify strategic steps that both the private sector and government entities can take to improve trade flow efficiency, thereby making both economic and security gains. Although the immediate goal of Project 21 is to make the Ysleta border crossing a model conduit for the trade that represents the lifeblood of the economic relationship between the U.S. and Mexico, future plans include extending this model that combines efforts of both the public and private sectors. Successfully implementing the gains resulting from the completion of Project 21 to ports of entry across the entire southern border will result in palpable economic benefits and a strengthened trade relationship between the two neighbor/partner countries.
It is not only important to recognize and care for the volume of trade that transacts between the U.S. and Mexico every day and every year. The speed (or lack thereof) that it occurs at also has an important impact on the economic health of both countries, as well as can limit or increase future trade generated prosperity. The goal of the various parties in the public and private sector (The City of El Paso, Secure Origins, Inc. Customs and tBorder Protection and Mexican public and private entities) that have come together in this pursuit is to have an impact on the latter. In great part, the continued and future prosperity of the U.S.- Mexico trade relationship lies in an ability to make the wheels of commerce move faster, literally.
The U.S.-Mexico border is the busiest in the world, the longest and most dramatic meeting point of a rich and poor country, and the site of intense confrontation between law enforcement and law evasion. Border control has changed in recent years from a low-maintenance and politically marginal activity to an intensive campaign focusing on drugs and migrant labor. Yet the unprecedented buildup of border policing has taken place in an era otherwise defined by the opening of the border, most notably
Anyone on the look out for some good news in these times of economic uncertainty and international tension will be heartened by reports this week that Canadian oil sands centred around Northern Alberta could provide as almost half of all US crude imports by 2030. That’s obviously good news for the North American economy and for both sides of the U.S. Canadian border, as well as improving US supply security.
Oil careers and oil jobs aplenty
Well it may not offer the types of off shore oil jobs that you see advertised in the Gulf Of Mexico for example, a recent report detailing the big boost in Canadian oil sand exports to the US certainly promises a whole host of related oil careers and oil jobs. The research from IHS Cambridge Energy Research Associates indicates that throughout 2010 oil sand imports from Canada’s large reserves of tar sands (or oil sands) will become the number one source of U.S. oil imports. The report goes on to predict that by 2030 oil sand imports could eventually rise to account for as much as 20-36% of U.S. oil and refined product imports. That’s a massive leap from a level of just 8% in 2009 and in real terms equates to between 3.1 mbd and 5.7 mbd by 2030.
The new expansion and exploitation of resources considered second in size only to those found in Saudi Arabia will inevitably require huge new investments in oil industry infrastructure and expertise. Research and development of new extraction methods are also crucial, particularly with regard to the special challenges involved in extracting a ‘heavy’ form of crude oil trapped in the sand and making it sufficiently fluid so that it can travel down pipelines ready for refining into gasoline and other hydrocarbon products. Investment is guaranteed to be substantial. For example, ConocoPhillips alone is committing somewhere between US$ 300 and $ 500million over the next five years in technology and in managing the environmental issues associated with the extraction.
Global oil and economic supply security
Securing a guaranteed and affordable supply of energy is an increasingly complex challenge these days, as rapidly developing nations such as India, China and Brazil compete for resources to meet their fast growing energy demands. The oil sands exploitation represents dual benefits to North America. The USA will have fast, easy and secure access to substantial amounts of new energy. This will not only guarantee the security of national energy demands for years to come with a politically stable and friendly neighbour, but there are also major economic spin offs for both Canada and the USA too.
In Canada, The Canadian Energy Research Institute has forecast that by 2020 the $ 100billion invested in oil sands development will have inspired a GDP increase of $ 885 billion, an additional 6.6 million person years’ employment and as much as $ 123billion of government revenues. The U.S. economy too will also benefit to the tune of an estimated 10,000 new construction jobs and an additional 500 permanent full-time refinery positions according the API (American Petroleum Institute), with refinery upgrades and expansions creating a whole host of new oil career opportunities.
Duncan freer – Director – oil careers and oil jobs. Oil and Gas Job Search is a job site dedicated to the specific needs of candidates who work in the Oil and Gas industry. We also provide recruiters with an online service that is effective in terms of cost and ease of use. Contacts For interviews, images or comments contact: John Roberts Marketing Manager Email: email@example.com
The U.S House of Representatives rejected President Bush’s 700 billion dollar rescue bid aimed at bailing out Wall Street (though they couldn’t show this sense when their intelligent leader decided war was needed). With Wall Street’s Dow Jones index taking its biggest one-day points fall in history after the deal was denied, European share indexes became immediately volatile in the Tuesday trading with huge declines hitting Asian stocks.
In the U.K the chameleonic David Cameron took his eyes off the door to Number 10 and announced that the Conservatives will work with the current government to tackle the financial crisis, taking the approach that we’re all in this all together. Whilst partisan politics are arguably detrimental to our progression as a civilisation, and the governments of the World should be handed a large chunk of the blame for the current economical down turn, a large part should be reserved for the media.
It has become increasingly impossible over recent months to turn on the television, fire up the internet, pick up a paper of even flick through the trashiest of gossip-rag magazines that pollute the racks of news agents, without getting a sinking feeling in the stomach and being told that it’s the end of the world in terms of economy. That we, as a nation, a world, a people all are heading into the gaping jaws of the Great Depression Mark 2.
This, surely, is the definition of scare mongering. Playing on the fears of the Everyman that rent will be a bit harder to find and food more expensive in order to push their paper or sell advertising space on their website. An approach exemplified by the Times of London who ran a stunning black and white shot of London’s financial district amongst the clouds that surround it’s peaks with a headline along akin to ‘Fear Stalks the Banks.”
People hold the financial aspect of their lives in high concern, a ridiculous amount of adverts on television are dedicated to offering higher rates of savings, loans and deals for their money. It is, therefore, sickening to glance at the news and see a trusted media outlet, funded by public licence fees, proclaim that yet more economical doom is looming. Especially when said peddler of news puts this information right beside news that Eastenders has cleaned up at the Soap Awards.
More and more, media is treating the economical slowdown as entertainment. The problem is that they employ the same fear-inducing tactics as the Americans do whenever something anywhere in the world happens and they increase their terror alert to beige. The news media has become a changed beast since the tragic events of September 11th, every little detail is jumped upon incase it could be the next big thing to have such an impact and either a certain network won’t receive coverage rewards or there is some way in which over-reporting could solve the problem. Or, even less-likely, the American audience isn’t scared enough. Of everything.
Just look at the state of things in America at present. There’s a pretty big blip in their economy (good thing they’re not spending millions upon millions of much needed dollars on a military operation) so they do the right thing and look to fix it. Only, this isn’t news enough, let’s have one of the word media’s biggest circuses interrupted and send one of the Presidential candidates back. Not because he’s losing, mind. Of course, to the media, this is gold! This must mean the End of the World is nigh!
Though, on a strictly speculative note, should McCain have any influence on this? Surely if he gets his way and decides to “bomb bomb bomb, bomb bomb Iran” won’t that be more detrimental to the world’s economy than any mortgage lender’s collapse?
Big institutions will often fail due to poor planning (sub-prime mortgages should never have been approved, where was the foresight?), it’s happened throughout history and will continue to do so. For every great business decision that builds an empire there will be another that will cause one to crumble. Nothing is set in stone and the economy works like an elastic band, constantly stretching and snapping back but continual in this process as it always recovers. Until now, how can economies be expected to recover if people are too scared to spend thanks to an over zealous media?
Sure, oil prices will rise. It’s one of life’s little guarantees, especially when you pump millions into a war effort that manages to increase them accordingly. Just don’t act surprised when the knock on effect is that food prices go up. Of course, it would be easy to point out that if governments really want to live up to election promises of reducing costs they should stop creating such a turbulent and, therefore, expensive world.
That all-hype-all-the-time media is a funny thing though as, like a common cold or fatal disease, it’s infectious and has spread to pretty much every news outlet across the globe. Yes, media has a duty to report the facts but do not create news in doing so. The media is guilty of creating an environment of fear where people are too scared to spend money on even their essentials and thus save the economy.