Advice from Jeff Bezos

Jeff Bezos

From the 37 Signals blog (via GeekWire). Jeff Bezos says smart people change their mind.

The smartest people are constantly revising their understanding, reconsidering a problem they thought they’d already solved. They’re open to new points of view, new information, new ideas, contradictions, and challenges to their own way of thinking.

This doesn’t mean you shouldn’t have a well formed point of view, but it means you should consider your point of view as temporary.

What trait signified someone who was wrong a lot of the time? Someone obsessed with details that only support one point of view. If someone can’t climb out of the details, and see the bigger picture from multiple angles, they’re often wrong most of the time.

3 Things You Need

3

Three things you need:

1. An accountant to help take advantage of all the available tax deductions and to file returns correctly and on time.

2. Life Insurance to protect your spouse and children. Unless you are wealthy, you need adequate life insurance for your family.

3. An estate plan to protect your family and estate from probate, to make sure your children are taken care of if something happens to you and your spouse, to distribute your assets to your loved ones according to your wishes and to authorize trusted family or friends to manage your affairs if you become incapacitated.

If you don’t have these three things, you need to get them. It’s your job as a parent and spouse. They will give you great peace of mind.

The 3-B Plan for Emailing Busy People

Lifehacker

Lifehacker on how to communicate with busy people.

The 3-B Plan

When deciding whether to read or delete an email, our brains go through this common evaluation process:

1. Who is emailing me (and is this spam)?
2. What do they want?
3. How long will this take?

Getting a “pass” on all 3 of these can be tougher than it looks, especially for busy people. Here’s my 3-step technique to avoid the trash bin.

I call it the 3-B plan. I always double-check my emails to make sure they follow the guidelines below, and I’ve been able to get some fantastic response rates.

Brevity

If there is one thing that busy people value above all else, it’s brevity. If you were receiving upwards of 50-100 emails per day, or had so many obligations that you were only left with a short amount of time to check email, it’d be easy to see why. In order to get your messages read ASAP, it’s best to make sure your opening email follows the ASAP rule: as short as possible.

I wouldn’t put a set limit on email length, because it’s a case by case basis. The important thing to remember is to always edit your emails at least once to trim unnecessary information. People don’t need your enthralling life story over email, they just need “who, what, why” so they can get back to business.

Blunt

Being blunt doesn’t mean not being persuasive, it simply means getting to the point without trying to be clever. Stories and jokes are essential for other forms of writing, but NOT for emails. Get to the incentive on why the other person should respond right away.

If possible, list a number in the title to signal commitment time (Ex: “3 quick questions”) and state exactly what the email is about in the subject line.

Basic

I sometimes am in disbelief that this one needs to be said, but it’s so true. I’ve had emails where people send what looks like a newsletter, emails with tons of images in them (so I have to click “display images” to even read it), and emails with a DOZEN attachments. When it’s your first time emailing someone…

Keep it simple, stupid.

Plan for Your 2013 Corporation or LLC

California Seal

If you think you need  to set up a corporation or LLC for your business, now is a good time.

1. The California Secretary of State now takes about 2 months to process new corporate and LLC filings. I know, this is ridiculous. It’s a routine task to set up a Delaware or Oregon corporation or LLC online. But here in California, home to Silicon Valley, there is no option to file online, and you have to pay an additional $350 expedited filing fee to avoid a two month wait.

So if you want your corporation or LLC in place by the beginning of the new year, you should start now.

2. California corporations must pay the greater of the $800 minimum franchise tax or a tax on net income. California waives the $800 franchise tax in the corporation’s first year. Why not make your “freebie” year a full year. If the Articles of Incorporation are filed in the last 15 days of the year, the corporation’s first year will begin January 1.

Innovate Your Business By Doing Less!

If you are an entrepreneur, pastor or executive director of a non-profit, you need to read my article, Innovate Your Business By Doing Less, on my personal blog.

Who’s Smarter than an Entrepreneur?

I write and talk a lot about how the now and future economy will be built by entrepreneurs. Not necessarily Steve Jobs or Bill Gates entrepreneurs, those that create billion dollar companies, but one man or one woman shops that create a phenomenal lifestyles for the owners. In my previous article, below, on how to choose a career, I discuss how one woman businesses are growing because many professionals give up the idea of finding a meaningful and stable job with a firm and because the barriers to entry have been significantly lowered with new technology.

One of my favorite business and marketing writers is Mitch Joel. This is what he wrote today.

Inc. Magazine ran an article titled, How The Rich Got Rich, in June of this past year. The article was based on an annual report by the IRS that provided data on the 400 individual income tax returns reporting the largest adjusted gross incomes and it was written by Jeff Haden. In this article, he deciphers the “watching paint dry”-boringness of this data to uncover some interesting kernels…

  • Working for a salary won’t make you rich.
  • Neither will making only safe “income” investments.
  • Neither will investing only in large companies.
  • Owning a business or businesses, whether in part or partnership, could not only build a solid wealth foundation but could someday…
  • Generate a huge financial windfall.

The future of business is small and entrepreneurial (don’t tell the MBAs and consultants).

The workplace has changed. Economics are funky. The security of a steady job in a big, corporate company has all but dissolved. We’ve spent the better part of two decades watching these monstrous organizations crumble (some because of corruption, while others failed to innovate at pace). At the same time, we’ve seen instances where a company like Instagram comes along, plays by their own rules and – whether we like it or not – is able to be sold for a billion dollars to Facebook with not much more than a hope of future growth, expansion and revenue.

It’s not all about the money.

I’ll be the first one to raise my hand in admission that money is not the only driver for success in business and life. Being healthy, happy and [Read more...]

How to Choose a Career You Will Love

I often get asked by high school and college kids for career advice. Over the years, I’ve distilled it down to two steps. This is what I tell them:

There are two steps to choosing a career. If you do the work on each, you will exponentially increase your chances of having a career you will love.

First, identify people who do what you think you want to do and follow them around. Don’t stalk them, volunteer to help them for a month or two. Give them free labor in return for learning about their work.

I know what you’re thinking, duh, of course. But this obvious first step is often skipped.

How may college graduates jump to law school, business school or other graduate school and invest countless hours and money into their studies only to realize two or three years later that they hate being a lawyer, teacher, accountant or financial advisor? But now they’re in big debt and have lost two to three years of earning capacity.

Make a serious effort to shatter your misconceptions. Bring a big hammer. Find out what the work is really like by shadowing someone who does it. You will [Read more...]

Entrepreneur and Combat

The linebacker and the Army Ranger go into action as part of a team. But the artist and the entrepreneur enter combat alone. I take my hat off to every man or woman who does this.

Steven Pressfied, Turning Pro

Your Success

I read a lot of business books and biographies. After I get over the buzz of how exciting the business or person is or was, I’m struck by the question would I really want to be like him or her? Big success in business (or in anything for that matter) comes with a price. The price is often a sacrifice of one’s family and life. The entrepreneur’s spouse and kids have money and things, but they don’t know the entrepreneur because he or she is always working.

Read the rest…