3 currencies and triple bottom line (3BL)

The three currencies:

In The Personal MBA by Josh Kaufman, there are 3 universal currencies he talks about:

  1. Resources – tangible goods: money, traceable items, commodities
  2. Flexibility – allowing you to make another option and utilise or gain opportunity cost.
  3. Time  – capacity to generate more revenue, embark on another venture….this is limitless.

time-equals-money

Image from : thekidonomicsseries

There is another concept in business sustainability that I think is related to this philosophy.  This is Triple Bottom Line (3BL), which takes responsibilities beyond the economical aspects – People, Planet, Profit.

I learned about this during an interview with 2 executive level engineers at a steel company!

A sustainable business decision should have the following considerations:

  1. Financial /Economic : What quantifiable value will an activity generate?
  2. Environmental:  What is the impact on the planet? Is it reversible?  What can be done to offset it?
  3. Social: How does an activity benefit the community and the country?

Triple-Bottom-Line.png

Image from : Tools4Management

For more information, The Personal MBA provides an easy to understand holistic overview of markets, business and general value creation.

Do you make sustainable business decisions?  Do you value all three of the universal currencies?

 

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Getting things done!

According to Deepak Chopra:

Preparedness + Opportunity = Good Luck

There have been a few books I’ve found useful in inspiring productivity and successfully getting things done.  Here are a few key notes:

The One Thing – Jay Papasan and Gary Keller

  • Success is sequential not simultaneous
    • You need to be accepting that all things don’t happen at once and it takes time to achieve your goals.  We fail our way to success.
  • No two things are equally important: there’s what matters most and the rest.  Think big, aim high; act bold; go small
    • Think big but go small: what is the one most important thing to do today
    • Balance: go short in your personal life, so nothing is left behind (i.e. all the important things are taken care off).  In your professional life, accept that you may need to go out of balance for a longer time, as priorities dictate so.
  • Find the one person who can relate to your dreams and help you deliver
    • Mentorship is important for guidance and as a sounding board to keep you focussed and conscious of your decisions.

The Checklist Manifesto – Atul Guwande

There are 2 main reasons for failure:

  • Ignorance – knowledge is available but not used
  • Ineptitude – knowledge unavailable
    • Training increases the likelihood of reduced ineptitude, but failures can still occur even with a well structured training scheme.

Why are checklists important? They build on experiences and knowledge as a strategy and make sure nothing is left behind.

 

The 7 Spiritual Laws of Success – Deepak Chopra

What is success? The ability to fulfil your desires with little effort and the journey in which abundance flows towards you.

 

Deepak Chopra’s book looks at the spiritual elements that are necessary to achieve true success and the application in daily life, in all situations.

This is an extremely well explained short read and definitely inspires thought and meditation.  Below is the summary of the seven laws and how they can be applied in daily living.

  • The Law of Pure Potentiality: This is the field of all possibilities and infinite creativity.  It can be experienced through silence and through appreciation of nature .  We should recognise that our basic being is spiritual.   Take time daily to just be, meditate and experience silence and practice non-judgement .
  • The Law of Giving (and receiving): Whatever you want to receive, you should give it…generously, this applies to material and immaterial things – friendship, love, a smile!
    • Shona Equivalent: kandiro kanoenda kunobva kamwe.
  • The Law of Karma: “You reap what you sow”. The critical thing to remember is that for every action and decision  taken, the effect will come back to you – but you ALWAYS have a choice to make good or bad actions and decisions.  So be conscious in decision making.
  • The Law of Least Effort: When your actions are inspired by love and you’re in harmony with the knowledge of yourself, all actions appear effortless.  This is achieved though acceptance (people, things, events are what they are), taking responsibility (not blaming others) and defencelessness (allowing flexibility for correction of your actions or thoughts, from others)
  • The Law of Intention and Desire:  Intention is desire without attachment.  Attention triggers transformation i.e. whatever you put your attention to, you can improve/transform.  Keep a list of your intentions and desires, share it with none and detach from the outcome.  Use this list for meditation and together with knowledge of self (as above).
  • The Law of Detachment: Detachment is freedom to create.  Go with the flow. Attachment (to symbols, e.g material objects) comes from poverty consciousness, whereas detachment is wealth consciousness.  Any physical thing can be acquired through detachment.  Going with the flow puts you in the realms of the unknown.  And uncertainty is the fertile ground of pure creativity.
  • The Law of Dharma : We all have a  purpose and responsibility that we’re here to fulfil.  Find it – what are you talents? what can you do to help others?

 

For more information: http://www.chopra.com/sslos