Strategy + Action = Wealth: Applied
Managing Actions
How do you make appropriate choices about what to do at any point in time? How do you manage your actions?
You must ask the questions; what is the desired outcome and the next action step.
Basic Requirements for managing commitments
First, anything you consider unfinished in any way must be captured in a trusted system outside your mind (collection bucket). You must come back to it regularly and sort through it.
Second, clarify exactly what your commitment is and decide what you have to do to make progress toward fulfilling it.
Third, once you’ve decided on the action you need to take, you must keep reminders of them organized in a system and reviewed regularly.
Process in a nutshell
1- Write down the project or situation that is most on your mind
2- Write a sentence describing your intended successful outcome for this problem or situation
3- Write the very next physical action required to move this situation forward
You simply acquired a clearer definition of the outcome desired and the next action required.
Outcome thinking makes wishes a reality
Horizontal and Vertical
Horizontal is the list of things you have to do
Vertical is a drilling down of each necessary item on the horizontal list. This is really project planning
Out of your head
You have to get everything (100%) out of your head. Capture and organize 100% of your “stuff” in and with objective tools at hand.
5 Stages of Mastering Workflow
Collect
Process
Organize
Review
Do
1- Collect: gather 100% of your incompletes using collection tools such as;
Physical in basket
Paper based notebook
Electronic based hand held devices
Email
Voice recording
Success is more likely if you get everything out of your head using these tools and have as few collection buckets as possible. Empty them regularly.
2- Process: what do you need to ask yourself about everything collected? You need to make decisions about what needs to be done. This will determine how you organize the actions you need to take. Must ask 2 questions;
What is it? (clearly define, ex. bill, reference, business idea)
Is it actionable?
If it is not actionable then you have 3 possibilities
Trash
Incubate (no actions needed now but maybe later)
Reference (potentially useful info maybe needed later)
You will need a filing system for your reference items and your incubated items. You will need a calendar for your incubated stuff to remind you that you will take action on these items at some point.
If it is actionable then you must ask 2 questions
What project or outcome have you committed to?
What’s the next action required?
1- Project- capture the outcome you seek on a projects list. You will need a weekly review of this list to show you what is still outstanding until its done
2- Next Action- the next physical, visible activity that needs to be engaged in to move closer to the desired outcome
There are 3 options for the next action
Do it (if it takes less than 2 minutes)
Delegate it (ask- are you the right person to do this? If not, delegate to the right person)
Defer it (if you are the right person and it will take longer than 2 minutes. Decide the project and place on correct list for review)
3- Organize: when all the “stuff” is processed it will need to be organized into 8 categories (everything on your plate);
Trash
Incubation
Reference
Projects Planning (on a project list)
Project Plans (next actions defined)
Waiting for someone to do
Calendar (to do at a specific time)
Next actions (to do asap)
Project = when you have a desired result (outcome) that requires more than 1 action step. In this case you need a system that reminds you of the multiple things which must done. These projects and the multiple things which must be done should be on a list and reviewed regularly for next actions.
Next Action Lists- actions that need to be done asap. Subdivide these lists into categories like phone calls, books to read, things to do when at work, when on train, when at barnes and nobles
Calendar- this is sacred and you should only use when an action has to happen at specific time or on a specific day
Incubation lists- someday/maybe items. Things you might want to do at some point but not right now. This is the parking lot for projects that you can’t do right now but you want to be reminded at regular intervals (weekly, biweekly, monthly etc)
Reference- make a list of what is contained in your reference. You can have reference materials organized by topic and area specific storage (contracts drawer, bills drawer). Or just organized for general reference (manual for cell phone)
4- Review: look at all outstanding projects and open loops at the 10,000 foot level on a weekly basis. Scan all defined actions and options. To know what you should do at any point in time.
What to review when;
Review calendar daily. These are items that has to get done. After a calendar item is completed stop and think if there is any follow up actions you need to do.
Review next actions lists, this is your inventory of predefined actions that you can take if you have discretionary time during the day. Divide into subcategories- at home, at computer, at phone, at work, in meeting with…
Review projects lists weekly. In addition, incubation lists, waiting for lists (judge the appropriate time frame for each)
Weekly Review- is a time to;
Gather and process all your stuff
Review your system
Update you lists
Get clean, clear, current and complete
You want to be completely clean and organized only visible items should be what you are working on at the moment and the lists you review regularly. Everything else should be out of site and filed appropriately.
5- Do (ACTION!): our 5 stages of work flow management helps us to make good choices about what we are doing at any point in time.
How do I know what to do? 3 ways
Four criteria model for choosing actions in the moment
Three types of work
Six Level Model of Priorities
Four Criteria Model;
1- Context (specific location)
2- Time Available (until you have to do something else)
3- Energy Available (what action can you take that matches your energy level?)
4- Priority (given your context, time and energy which action will be the optimal or highest payoff)
Three Types of Work (deciding priority)
1- Predefined work (from the actions list)
2- Work that just showed up (ad hoc, someone calls or stops by)
3- Defining your work (using system, clearing in basket)
Six Level Model (deciding priority using long-term)
1- 50,000 feet: life
2- 40,000 feet: 3-5 year vision
3- 30,000 feet: 1-2 year goals
4- 20,000 feet: Areas of Responsibility
5- 10,000 feet: Current Projects
6- Runway: Current Actions
6- current actions- list of all next actions
5- current projects- short term outcomes to achieve creating many of the current actions on runway
4- areas of responsibility- key areas within which you want to achieve results and maintain standards. On the job maybe its strategic planning, market research, etc. Personal maybe its health, good finances. Reviewing these responsibilities helps give you an inventory of projects
3- 1 to 2 year goals- what outcome/result do you want in 1 to 2 years. This produces certain projects and actions you must take to achieve desired outcome
2- 3 to 5 year goals- outcome/results in 3 to 5 years. Career, organization strategies, financial goals, family
1- life- why do you exist? Why does your company exist? All of your projects, visions, goals, derive from this and lead you toward it
How do you make appropriate choices about what to do at any point in time? How do you manage your actions?
You must ask the questions; what is the desired outcome and the next action step.
Basic Requirements for managing commitments
First, anything you consider unfinished in any way must be captured in a trusted system outside your mind (collection bucket). You must come back to it regularly and sort through it.
Second, clarify exactly what your commitment is and decide what you have to do to make progress toward fulfilling it.
Third, once you’ve decided on the action you need to take, you must keep reminders of them organized in a system and reviewed regularly.
Process in a nutshell
1- Write down the project or situation that is most on your mind
2- Write a sentence describing your intended successful outcome for this problem or situation
3- Write the very next physical action required to move this situation forward
You simply acquired a clearer definition of the outcome desired and the next action required.
Outcome thinking makes wishes a reality
Horizontal and Vertical
Horizontal is the list of things you have to do
Vertical is a drilling down of each necessary item on the horizontal list. This is really project planning
Out of your head
You have to get everything (100%) out of your head. Capture and organize 100% of your “stuff” in and with objective tools at hand.
5 Stages of Mastering Workflow
Collect
Process
Organize
Review
Do
1- Collect: gather 100% of your incompletes using collection tools such as;
Physical in basket
Paper based notebook
Electronic based hand held devices
Voice recording
Success is more likely if you get everything out of your head using these tools and have as few collection buckets as possible. Empty them regularly.
2- Process: what do you need to ask yourself about everything collected? You need to make decisions about what needs to be done. This will determine how you organize the actions you need to take. Must ask 2 questions;
What is it? (clearly define, ex. bill, reference, business idea)
Is it actionable?
If it is not actionable then you have 3 possibilities
Trash
Incubate (no actions needed now but maybe later)
Reference (potentially useful info maybe needed later)
You will need a filing system for your reference items and your incubated items. You will need a calendar for your incubated stuff to remind you that you will take action on these items at some point.
If it is actionable then you must ask 2 questions
What project or outcome have you committed to?
What’s the next action required?
1- Project- capture the outcome you seek on a projects list. You will need a weekly review of this list to show you what is still outstanding until its done
2- Next Action- the next physical, visible activity that needs to be engaged in to move closer to the desired outcome
There are 3 options for the next action
Do it (if it takes less than 2 minutes)
Delegate it (ask- are you the right person to do this? If not, delegate to the right person)
Defer it (if you are the right person and it will take longer than 2 minutes. Decide the project and place on correct list for review)
3- Organize: when all the “stuff” is processed it will need to be organized into 8 categories (everything on your plate);
Trash
Incubation
Reference
Projects Planning (on a project list)
Project Plans (next actions defined)
Waiting for someone to do
Calendar (to do at a specific time)
Next actions (to do asap)
Project = when you have a desired result (outcome) that requires more than 1 action step. In this case you need a system that reminds you of the multiple things which must done. These projects and the multiple things which must be done should be on a list and reviewed regularly for next actions.
Next Action Lists- actions that need to be done asap. Subdivide these lists into categories like phone calls, books to read, things to do when at work, when on train, when at barnes and nobles
Calendar- this is sacred and you should only use when an action has to happen at specific time or on a specific day
Incubation lists- someday/maybe items. Things you might want to do at some point but not right now. This is the parking lot for projects that you can’t do right now but you want to be reminded at regular intervals (weekly, biweekly, monthly etc)
Reference- make a list of what is contained in your reference. You can have reference materials organized by topic and area specific storage (contracts drawer, bills drawer). Or just organized for general reference (manual for cell phone)
4- Review: look at all outstanding projects and open loops at the 10,000 foot level on a weekly basis. Scan all defined actions and options. To know what you should do at any point in time.
What to review when;
Review calendar daily. These are items that has to get done. After a calendar item is completed stop and think if there is any follow up actions you need to do.
Review next actions lists, this is your inventory of predefined actions that you can take if you have discretionary time during the day. Divide into subcategories- at home, at computer, at phone, at work, in meeting with…
Review projects lists weekly. In addition, incubation lists, waiting for lists (judge the appropriate time frame for each)
Weekly Review- is a time to;
Gather and process all your stuff
Review your system
Update you lists
Get clean, clear, current and complete
You want to be completely clean and organized only visible items should be what you are working on at the moment and the lists you review regularly. Everything else should be out of site and filed appropriately.
5- Do (ACTION!): our 5 stages of work flow management helps us to make good choices about what we are doing at any point in time.
How do I know what to do? 3 ways
Four criteria model for choosing actions in the moment
Three types of work
Six Level Model of Priorities
Four Criteria Model;
1- Context (specific location)
2- Time Available (until you have to do something else)
3- Energy Available (what action can you take that matches your energy level?)
4- Priority (given your context, time and energy which action will be the optimal or highest payoff)
Three Types of Work (deciding priority)
1- Predefined work (from the actions list)
2- Work that just showed up (ad hoc, someone calls or stops by)
3- Defining your work (using system, clearing in basket)
Six Level Model (deciding priority using long-term)
1- 50,000 feet: life
2- 40,000 feet: 3-5 year vision
3- 30,000 feet: 1-2 year goals
4- 20,000 feet: Areas of Responsibility
5- 10,000 feet: Current Projects
6- Runway: Current Actions
6- current actions- list of all next actions
5- current projects- short term outcomes to achieve creating many of the current actions on runway
4- areas of responsibility- key areas within which you want to achieve results and maintain standards. On the job maybe its strategic planning, market research, etc. Personal maybe its health, good finances. Reviewing these responsibilities helps give you an inventory of projects
3- 1 to 2 year goals- what outcome/result do you want in 1 to 2 years. This produces certain projects and actions you must take to achieve desired outcome
2- 3 to 5 year goals- outcome/results in 3 to 5 years. Career, organization strategies, financial goals, family
1- life- why do you exist? Why does your company exist? All of your projects, visions, goals, derive from this and lead you toward it
