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How Much Do You Need to Give Up to Start Over?

How Much Do You Need to Give Up to Start Over?

There is a common belief that when you want to embark or start on something new, whether it be a project, a hobby, a job or some big life change, a certain sacrifice must be made. “Out with the old, and in with the new” as they say. It’s almost as if we’re not capable of handling more than what we already have unless we let go of something. But is that really always the case?

When I was young, I took up violin lessons. I enjoyed playing the violin, but when I saw a friend playing the guitar, I got interested in that and wanted to start playing the guitar. My parents however, insisted that I continue with violin lessons and felt I should give my full attention to one instrument, rather than a few; they didn’t believe in being a Jack of all trades. And so sadly, I never got to take up guitar lessons.

Afraid of Giving it Up?

Have you found yourself in a similar circumstance? Perhaps you’re at a crossroad right now, and you’re trying to decide on whether to stay on in your current job, or move on to something completely different.

You’re not truly doing something you love or are passionate about, and so you want to make that change… but it’s a risky plunge.

You’re going to have to sacrifice everything that you’ve worked for over the years. You’re going to have to say goodbye to that big salary, the benefits that comes with the job, and you’re going to have to adjust to the changes.

Thinking of all that is already detering you from stepping out to take that plunge, isn’t it?

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Or maybe you have many responsibilities in life and little time for yourself. You have a spouse and children to take care of, maybe you’ve even got aging parents to think of.

At work, you’ve got subordinates waiting on you for advice. As a leader, you have to manage the team. You’ve got conference calls in different time zones to take, business trips to make, decisions to execute.

You have a lot on your plate, and you wish you could just set aside some time to enjoy the pleasures in life. Golf more, take the kids out more, go on vacations more.

Sure, if you wanted all that time, you could take on a lower paying job that would require less of your time. But that would mean a big pay cut and less comfort in your life. If not, you’ll just have to wait till retirement.

Play It Safe and Regret It Later

In these situations, it usually feels like an all or nothing approach. And, it then becomes the ‘smart’ thing to just ignore the challenge and stay put. Unless you’re overly confident that things are going to work out, or that you have a back up plan in place, most people never truly dare to take on new opportunities after a certain age or stage in life for fear of losing out, falling behind or having to give up whatever it is that they’ve already accomplished thus far.

But this is also where many individuals end up feeling regret much later on in life, perhaps as they approach retirement and have a sense of unfulfillment. There is an emptiness or a lack that they start feeling because they never answered their ‘calling’ or satisfied their heart’s desires. You may end up feeling short changed and unhappy with how things have turned out.

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Most people end up feeling more bitter over the regrets of not having done or tried something, rather than in the mistakes they made when they tried something. It’s always the ‘what ifs’ that will go on to haunt you.

No Sacrifice Needed!

The good news is, you don’t actually have to make such a big sacrifice when it comes to change! Everything that you’ve ever achieved and want to accomplish comes from you – your mind.

You set the limits and expectations for what you want in life, which is why the first step to breaking free from your limitations is to learn how to control and change your perception of your current situation. With this in mind, you can now actively take charge of your circumstances to build and create new opportunities.

So how do you begin?

Think of being at the beach, where you can see the tides coming in. When the tide is against you, it feels like an uphill battle. But, when the tide is with you, like when you’re surfing, suddenly there’s this invisible force – a momentum that pushes you along; you’re able to ride the waves smoothly, just how that momentum pushes you towards your goal.

So part of taking charge of your circumstances is to systematically turn the tides in your favor. That means actively and strategically building up momentum for yourself to propel you where you want to go. But, first, you have to know what you want. You need to know where you’re going in order to set the right goals and the right actions to start getting there, right?

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Life in Trends

Next, you also need to see things in terms of Trends. Do you believe that a big change requires some sort of big, dramatic decision? Well that’s not always the case!

The truth is, that change, especially big change, almost never happens as a sudden, one-off result. Change doesn’t happen in a sudden impulsive decision, because those types of changes almost never turn out well. The outcomes that do succeed are a result of a build up of underlying factors that probably started a long time ago.

Think of the last major decision you made. The seeds that culminated in it were probably planted months or maybe even a year before–am I right? You can say that those seeds began a new life trend that started gaining momentum as you put more actions into it. And, this really is how your life works.

Life is a series of trends. And a trend is a direction of change – it’s always moving forward.

But, the thing about trends is that they’re either going up or down; some are moving faster than others, but they’re always moving. Another thing about trends is that you don’t notice the change happening at the time. The vast majority of change happens behind the scenes and builds up over time. It’s not until it passes a critical point when it suddenly becomes apparent.

Real change comes from where your trends are taking you. Because a trend is like a river, once it builds up momentum, it becomes a force of its own, and nothing can stop it from reaching its destination. So the secret to turning the tides to your favor, is to control your trends. 

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But a trend doesn’t start with your actions. Like your limitations, it starts from your perspective – how you see the thing you’re trying to change. So once you change your perspective, believe it or not, you’ve already started creating a new trend. You’ll start doing things differently, and soon enough it’ll become automatic. Slowly at first, but over time, these will build up into a completely new you in that part of your life.

So since trends are realized over time, this means that it’s important to start now, because big change is like a snowball. It accumulates from a lot of consistent actions. The upside to viewing change in terms of trends is that you can start enjoying the change immediately. And, the change doesn’t stop, as long as the trend keeps building up. It’ll continue to grow and get bigger and bigger..

The biggest difference between those who experience breakthroughs and those who don’t, is that the ones who see breakthroughs go through a total shift in mindset. They realize a need to see things differently, and as a result, they’re able to act differently which leads to successful outcomes.

The Breakthrough Framework

So this is where I want to introduce the Breakthrough Framework. This is the framework that will help you to turn your mindset around, and provide an overall paradigm shift for you to turn any limitation you may be having, into an opportunity that is achievable.

By going through this framework, you’ll be able to achieve the change that is needed to reach your goals and break free from whatever is currently holding you back.

During each step of your journey, you will utilize the 7 Cornerstone Skills to help you through your transformation. These skills will magnify your efforts and instill changes permanently so that you won’t fall back into those limitations.

Don’t be afraid to step out and take that new plunge. The secret to living the life you want lies in Lifehack’s solution — Check out Our Solution Here!

Featured photo credit: Martha Dominguez de Gouveia via unsplash.com

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Leon Ho

Founder & CEO of Lifehack

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Last Updated on January 6, 2021

14 Ideas on How to Measure Productivity to Make Progress

14 Ideas on How to Measure Productivity to Make Progress

Everyone has heard the term productivity, and people talk about it in terms of how high it is and how to improve it. But fewer know how to measure productivity, or even what exactly we are talking about when using the term “productivity.”

In its simplest form, the productivity formula looks like this: Output ÷ Input = Productivity.

For example, you have two salespeople each making 10 calls to customers per week. The first one averages 2 sales per week and the second one averages 3 sales per week. By plugging in the numbers we get the following productivity levels for each sales person.

For salesperson one, the output is 2 sales and the input is 10 sales: 2 ÷ 10 = .2 or 20% productivity. For salesperson two, the output is 3 sales and the input is 10 sales: 3 ÷ 10 = .3 or 30% productivity.

Knowing how to measure and interpret productivity is an invaluable asset for any manager or business owner in today’s world. As an example, in the above scenario, salesperson #1 is clearly not doing as well as salesperson #2.

Knowing this information we can now better determine what course of action to take with salesperson #1.

Some possible outcomes might be to require more in-house training for that salesperson, or to have them accompany the more productive salesperson to learn a better technique. It might be that salesperson #1 just isn’t suited for sales and would do a better job in a different position.

How to Measure Productivity With Management Techniques

Knowing how to measure productivity allows you to fine tune your business by minimizing costs and maximizing profits:

1. Identify Long and Short-Term Goals

Having a good understanding of what you (or your company’s) goals are is key to measuring productivity.

For example, if your company’s goal is to maximize market share, you’ll want to measure your team’s productivity by their ability to acquire new customers, not necessarily on actual sales made.

2. Break Down Goals Into Smaller Weekly Objectives

Your long-term goal might be to get 1,000 new customers in a year. That’s going to be 20 new customers per week. If you have 5 people on your team, then each one needs to bring in 4 new customers per week.

Now that you’ve broken it down, you can track each person’s productivity week-by-week just by plugging in the numbers:

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Productivity = number of new customers ÷ number of sales calls made

3. Create a System

Have you ever noticed that whenever you walk into a McDonald’s, the French fry machine is always to your left? 

This is because McDonald’s created a system. They have determined that the most efficient way to set up a kitchen is to always have the French fry machine on the left when you walk in.

You can do the same thing and just adapt it to your business.

Let’s say that you know that your most productive salespeople are making the most sales between the hours of 3 and 7 pm. If the other salespeople are working from 9 am to 4 pm, you can potentially increase productivity through something as simple as adjusting the workday.

Knowing how to measure productivity allows you to set up, monitor, and fine tune systems to maximize output.

4. Evaluate, Evaluate, Evaluate!

We’ve already touched on using these productivity numbers to evaluate and monitor your employees, but don’t forget to evaluate yourself using these same measurements.

If you have set up a system to track and measure employees’ performance, but you’re still not meeting goals, it may be time to look at your management style. After all, your management is a big part of the input side of our equation.

Are you more of a carrot or a stick type of manager? Maybe you can try being more of the opposite type to see if that changes productivity. Are you managing your employees as a group? Perhaps taking a more one-on-one approach would be a better way to utilize each individual’s strengths and weaknesses.

Just remember that you and your management style contribute directly to your employees’ productivity.

5. Use a Ratings Scale

Having clear and concise objectives for individual employees is a crucial part of any attempt to increase workplace productivity. Once you have set the goals or objectives, it’s important that your employees are given regular feedback regarding their progress.

Using a ratings scale is a good way to provide a standardized visual representation of progress. Using a scale of 1-5 or 1-10 is a good way to give clear and concise feedback on an individual basis.

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It’s also a good way to track long-term progress and growth in areas that need improvement.

6. Hire “Mystery Shoppers”

This is especially helpful in retail operations where customer service is critical. A mystery shopper can give feedback based on what a typical customer is likely to experience.

You can hire your own shopper, or there are firms that will provide them for you. No matter which route you choose, it’s important that the mystery shoppers have a standardized checklist for their evaluation.

You can request evaluations for your employees friendliness, how long it took to greet the shopper, employees’ knowledge of the products or services, and just about anything else that’s important to a retail operation.

7. Offer Feedback Forms

Using a feedback form is a great way to get direct input from existing customers. There are just a couple of things to keep in mind when using feedback forms.

First, keep the form short, 2-3 questions max with a space for any additional comments. Asking people to fill out a long form with lots of questions will significantly reduce the amount of information you receive.

Secondly, be aware that customers are much more likely to submit feedback forms when they are unhappy or have a complaint than when they are satisfied.

You can offset this tendency by asking everyone to take the survey at the end of their interaction. This will increase compliance and give you a broader range of customer experiences, which will help as you’re learning how to measure productivity.

8. Track Cost Effectiveness

This is a great metric to have, especially if your employees have some discretion over their budgets. You can track how much each person spends and how they spend it against their productivity.

Again, this one is easy to plug into the equation: Productivity = amount of money brought in ÷ amount of money spent.

Having this information is very useful in forecasting expenses and estimating budgets.

9. Use Self-Evaluations

Asking your staff to do self evaluations can be a win-win for everyone. Studies have shown that when employees feel that they are involved and their input is taken seriously, morale improves. And as we all know, high employee morale translates into higher productivity.

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Using self-evaluations is also a good way to make sure that the employees and employers goals are in alignment.

10. Monitor Time Management

This is the number one killer of productivity in the workplace. Time spent browsing the internet, playing games, checking email, and making personal calls all contribute to lower productivity[1].

Time Management Tips to Improve Productivity

    The trick is to limit these activities without becoming overbearing and affecting morale. Studies have shown that most people will adhere to rules that they feel are fair and applied to everyone equally.

    While ideally, we may think that none of these activities should be done on company time, employees will almost certainly have a different opinion. From a productivity standpoint, it is best to have policies and rules that are seen as fair to both sides as you’re learning how to measure productivity.

    11. Analyze New Customer Acquisition

    We’ve all heard the phrase that “It’s more expensive to get a new customer than it is to keep an existing one.” And while that is very true, in order for your business to keep growing, you will need to continually add new customers.

    Knowing how to measure productivity via new customer acquisition will make sure that your marketing dollars are being spent in the most efficient way possible. This is another metric that’s easy to plug into the formula: Productivity = number of new customers ÷ amount of money spent to acquire those customers.

    For example, if you run any kind of advertising campaign, you can compare results and base your future spending accordingly.

    Let’s say that your total advertising budget is $3,000. You put $2,000 into television ads, $700 into radio ads, and $300 into print ads. When you track the results, you find that your television ad produced 50 new customers, your radio ad produced 15 new customers, and your print ad produced 9 new customers.

    Let’s plug those numbers into our equation. Television produced 50 new customers at a cost of $2,000 (50 ÷ 2000 = .025, or a productivity rate of 2.5%). The radio ads produced 15 new customers and cost $700 (15 ÷ 700 = .022, or a 2.2% productivity rate). Print ads brought in 9 new customers and cost $300 (9 ÷ 300 = .03, or a 3% return on productivity).

    From this analysis, it is clear that you would be getting the biggest bang for your advertising dollar using print ads.

    12. Utilize Peer Feedback

    This is especially useful when people who work in teams or groups. While self-assessments can be very useful, the average person is notoriously bad at assessing their own abilities.

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    Just ask a room full of people how many consider themselves to be an above average driver and you’ll see 70% of the hands go up[2]! Now we clearly know that in reality about 25% of drivers are below average, 25% are above average, and 50% are average.

    Are all these people lying? No, they just don’t have an accurate assessment of their own abilities.

    It’s the same in the workplace. Using peer feedback will often provide a more accurate assessment of a person’s ability than a self-assessment would.

    13. Encourage Innovation and Don’t Penalize Failure

    When it comes to productivity, encouraging employee input and adopting their ideas can be a great way to boost productivity. Just make sure that any changes you adopt translate into higher productivity.

    Let’s say that someone comes to you requesting an entertainment budget so that they can take potential customers golfing or out to dinner. By utilizing simple productivity metrics, you can easily produce a cost benefit analysis and either expand the program to the rest of the sales team, or terminate it completely.

    Either way, you have gained valuable knowledge and boosted morale by including employees in the decision-making process.

    14. Use an External Evaluator

    Using an external evaluator is the pinnacle of objective evaluations. Firms that provide professional evaluations use highly trained personnel that even specialize in specific industries.

    They will design a complete analysis of your business’ productivity level. In their final report, they will offer suggestions and recommendations on how to improve productivity.

    While the benefits of a professional evaluation are many, their costs make them prohibitive for most businesses.

    Final Thoughts

    These are just a few of the things you can do when learning how to measure productivity. Some may work for your particular situation, and some may not.

    The most important thing to remember when deciding how to track productivity is to choose a method consistent with your goals. Once you’ve decided on that, it’s just a matter of continuously monitoring your progress, making minor adjustments, and analyzing the results of those adjustments.

    The business world is changing fast, and having the right tools to track and monitor your productivity can give you the edge over your competition.

    More Productivity Tips

    Featured photo credit: William Iven via unsplash.com

    Reference

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