A Minty Fresh Chart

Because I like data analysis so much, I often think that sweetest gig in the world would be working at someplace like Google where you have tons of data that you could mine for interesting behaviors and trends. I think Mint.com is the same thing. Although, they often do post cool charts with all of that data on the Mint Life blog. Although, they have a lot of other worthy stuff too. I liked this job growth chart that they posted this past week.

Predictably Irrational Reading

For some reason lately I have been reading a lot econ stuff. Which is funny because I did not read econ stuff when I took econ...Its funny there have been a proponederanceof books about a return to irrational markets. Justifiably so given the markets swings as people seek to explain and understand that. I ready predictably Irrational by Dan Arley and enjoyed it immensely. Dan's book reads a little more like a text book than something you might read in the Times Magazine, but that does not stop it from being a glass of fun juice.

Key Takeaways (a month after reading it):

• Its better not to ever charge the parents of children in daycare for picking up their children late. Guilt is a much more powerful motivator.
• Students, even ones at Harvard, cheat on exams.
• "Free" is a a powerful thing, even if people don't need the item. E.g. buying a $20 Amazon gift certificate for $7 is better than getting a $10 one for free.
• Make sure your potential brother-in-law is a deadbeat. it will give you much better chances with attractive mates.
• We overvalue what we have. I know this from trying to sell a lot of stuff after I sold my house.
• Options have values, except when you try to go back through open doors.

I strongly recommend this. As I think back about it, it makes me want to reread it and make sure I am not procrastinating anything.

My Personal Pollan Fad

Ever since I watched the documentary "The Botany of Desire" I have been hanging on every word of Michael Pollan's. I am sure this is some sort of fad that I will laugh about in the coming years, but it has had a significant impact on my thinking if not my habits. This is surprising because I read part of "The Omnivore's Dilemma" a few years ago but I did not make it all the way through before the library recalled it, and I never renewed it, which tells me something in itself.

However, I recently read his "Food Rules" and enjoyed it immensely. It is a fun little collection of 64 rules divided into three parts: 1) What should I eat? 2) What kind of food should I eat? 3) How much should I eat? (answers below)

Here are the rules I remember after reading the book over a week ago:

Section 1: Eat Food; Eat only foods that will eventually rot; Avoid Food products that contain more than five ingredients; Buy only foods with ingredients you can pronounce
Section 2: Don't eat breakfast cereals that change the color of the milk; Eat like the French. Or the Japanese. Or the Italians. Or the Greeks. (i.e., not like Americans)
Section 3: Cook; The Banquet is the First Bite; Breakfast like a King, Lunch like a Prince, Dinner Like a Pauper; Do All Your Eating at the Table (this one is especially tough)

answers: 1) Food 2) Mostly Plants 3) Not Too Much

Rent v. Buy: Ask a Dinosaur

When I am in the right mood (no not that mood pervert!), I find the dinosaur comics make me laugh. I like to read them with a childish dinosaur (think husky) voice. This one goes back and forth about rent vs. buy, so I could not resist linking to it.

Enjoy..

Book Review: The E-Myth Enterprise: How to Turn A Great Idea Into a Thriving Business; Michael Gerber

The E-Myth Enterprise: How to Turn A Great Idea Into a Thriving Business

I borrowed this from the libary because it was recommended by the author of another book I read. Actually, it recommended a different "E-Myth" book and I mistakenly checked this one out of the library.

It was an easy read but not very prescriptive. This was the first book in the "E-Myth" series that I have read.

My takeaways:

• Business is a creative action
• Successful business solve customer problems (Duh!)
• The best companies are process driven not people driven. That was counter-intutive when I first read it, but I have seen this in a number of the places I have worked and I really agree with it. Some employers (managers) blame the person and wrongly believe if only they had a different person, the outcome would be different. Process driven companies believe that they can perfect the process, even with imperfect people employing it. Now, I am not saying that people should not be dismissed, but I do believe that we should all aspire to delivering a process that ensures success and constantly refine and reinvent that process.
• There is a great anecdote about a guy who started a business in Arizona called "Three Day Kitchens". The description was really fun and I think it is something everyone who has owned a home and contracted out work can sympathize with.

I recommend you check it out if you would like a quick read with some fun business anecdotes. It is relevant to entrepeneurs and employees and I hope to check out another one of the E-myth books soon.

Wealth Transfer: Savers -> Spenders

A friend made a comment over the weekend that high inflation would be yet another wealth transfer from savers to spenders. There is a good opinion piece in the Washington post today that enumerates the other ways the government transfers wealth from the prudent to the risk takers

Difference Between Goals and Objectives

Business cases often require a statement of goals and objectives. I did not know until after I left business school that they are actually different. One of my senior colleagues gave me a business template to fill out that had a short answer for both and I had to ask "What is the difference?" I soon learned that goals are what you are trying to acheive and objectives are the milestones that you will complete to reach those goals. For me, goals are strategic and objectives are tactical. If liberty is the goal, increased democracy could be an objective.

This is helpful when it comes to personal organization, market research, business plans, and just about any planning activity.