Let me discuss with you today about this exciting mantra of “Do Less, Gain More mantra to double your cash flows.” We all have faced many financial challenges time and again and more so in these times of disruption. Some key challenges can be:
• Liquidity crisis
• Higher Expenses
• Financial dependence
• Lower Income/Profit
I have found that you can overcome these challenges by one of my mantra “do less, gain more mantra to double your cash flows”. This mantra has four components:
1) Setting the key financial goals
2) Positive prosperity consciousness
3) Adequate liquidity
4) Adequate growth in profitability
The first component of setting the key financial goals can lead to doubling of cash flows and more so. For going ahead in the life one must set his goal smartly. Smart here refers to 5 key factors Specific, measurable, attainable, realistic and tangible. Achieving of big and difficult goals in life is really dependent on how you set the goals.
We all know 80, 20 rule which is 20% action leads to 80% results. What if, we can increase the time to high payoff activities from 20% to 40%. It can really lead to far greater impact on the results. DO you know that 1% improvement in performance leads to exponential difference in results? For example In Olympics, 100 meter race the difference between winner and second one is of micro seconds only but difference in result is huge. Besides the fame and goodwill the difference in prize money is also in millions of dollars.
Moreover these actions become more effective as we start focusing on smart goals. This leads to efficient utilization of the resources of the organization leading to the cost optimizations. Another benefit on focusing on smart goals is that it can lead to elimination of non-value added actions too which is the chunk of today’s actions which is 80% of all the actions. I will discuss more on this in the next article.
There is a good news that I have come up with a one month coaching program which will help you to implement the above mantra “Do Less, Gain More mantra to double your cash flows.”