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Value Creation Blog

Creating Enterprise Value Requires Focus

Posted by Josh Patrick

shiny object resized 600I’m a huge fan of bright shiny objects.  Bright shiny objects are anything that takes our attention away from the task at hand.   My problem is not finding enough things to do; my problem is focusing on the job at hand without getting sidetracked onto other projects where I try to multi-task.

In this area I don’t take my own advice very well.  I tell Clients on a regular basis that they need to limit what they work on and only concentrate on areas that can provide high returns for them.  I also say when they are working on a particular area to close other windows on the computer screen and only concentrate on one task at a time.

This means no peeking at your in-box while in the middle of some work or looking up that favorite band with a new album while you’re in the middle of a phone call.  If we can manage to concentrate on the task at hand we’re much more effective and efficient.  The amount of work that we get done goes up by a dramatic amount and we can schedule time for bright shiny objects.

For some the idea of concentrating on one thing at a time feels punitive.  For others the reaction might be, “duh, what’s so earth shattering about that?”  The point is that many entrepreneurs and private business owners often feel a time crunch for getting important projects done.  In many cases ‘important’ never gets started because owners spend so much time working on urgent activities in their business.

Tasks that aren’t reacting to a problem are the ones that we should spend a lot of time on.  We end up spending a great deal of time not on ‘should’ but on ‘must’ or we’re in deep trouble.

I’m curious where you are on the spectrum and what your thoughts are.  The comments box is for starting conversations and for someone like me that’s another wonderful opportunity to play with some new bright shiny objects.

Josh Patrick

Securities and Investment Advisory Services offered through NFP Securities, Inc. (NFPSI), Member FINRA/SIPC. Stage 2 Planning Partners and NFPSI are not affiliated.

This article is published for residents of the United States only.  Registered Representatives and Investment Adviser Representatives of NFP Securities, Inc. may only conduct business with residents of the states and jurisdictions in which they are properly registered.  Therefore, a response to a request for information may be delayed.  Not all of the products and services referenced on this site are available in every state and through every representative or advisor listed.

Topics: concentration, enterprise value, Focus

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