Reader Question - Working from Home

Why would it be valuable to work from home?

Lets say you commute 30 minutes to work each day. Working from home will save you at least 5 hours per week of drive time. If you apply this time to your job, you should be able to pull ahead of people who have to invest those 5 hours in driving to work. You can also choose to invest those extra 5 hours in sleep, your family, a hobby or whatever you like.

Sometimes working from home can help you focus. Being out of the office means it is more difficult for people to distract you–they can’t just pop into your office or cubicle. Of course if your home work environment is distracting, you may not see much benefit.

If you want to know more about working from home checkout this post: Convince Your Boss to Let you Work from Home

On Fridays we publish questions from our readers. If you have a question you’d like to see answer here, please send it to questions@productivity501.com.

Another Scanner

A reader pointed me to the Fujitsu 6140.  It is faster than the Scan Snap at 80 to 120 ppm (each side counts as one page) and seems to be a little more heavy duty in its construction.

It looks like it uses dual rollers where the Scan Snap 510 and 510M only use one.  This might help guard against misfeeds and paper jams.

The 6140 comes with Kofax workgroup software that will handle some scanning tasks including processing bar codes scanned on documents.  The scanner appears to only support the Windows platform.

The 6140 is quite a bit more expensive with a list price of $1999.  You can get it in the Productivity501 Store for $1,660.

10 Signs You Will Be Poor

Here is a list of signs that indicate someone is likely to be poor in the future. If any of these apply to you, it might want to consider making some changes.

10. The only type of CDs you know about play music.

Not understanding basic investment tools is one sure sign that you will mismanage your finances. This is especially true because a basic financial education is so readily accessible on websites, through library books, etc.

9. Your bank account balance goes down each month.

You don’t need any fancy charts to see if your net worth is improving or decaying. If you usually have less money in your accounts each month then your lifestyle is not sustainable on your current income. You’ll have to change something to keep from running out of money. Until you make some significant changes, you will continue to become poorer.

8. You carry a balance on your credit cards.

Normal interest rates on credit cards are extremely high. If you are willing to pay 20% in interest each month, it is very unlikely that you’ll make wise financial decisions in other areas. Even if you do, the amount you are paying in interest is likely to offset any gains in other areas.

7. You leave money on the table.

Not participating in an employer matched retirement plan is one way people leave money on the table. Health savings plans and other tax savings setups are other opportunities you shouldn’t overlook. If you regularly skip over opportunities to get free money you are unlikely to do well financially.

6. You look forward to getting a large tax refund.

A large tax refund usually means you didn’t plan ahead correctly. Any extra money you gave the government is basically an interest free loan. If you plan correctly your refund should be very small or you should have to pay a small amount.

5. You notice the “cost per month” price on items.

If the first price you notice on a new item, is the cost per month you aren’t thinking like a financially responsible person. This is especially true on items that you shouldn’t borrow money to purchase like consumer electronics. For items like a car or house, you should make sure you can make the payments, but your starting point for determining if something is worth the cost or not should be the price not the payment.

4. Social Security is your retirement plan.

Social Security may still be around when you retire. It can offer some nice life insurance style benefits right now, but if your entire retirement plan is based on Social Security you aren’t thinking like a financially responsible individual. If this describes you, I’d suggest you immediately sit down and see what your projected SS benefit will be and decide if you can live off that amount. And don’t forget to calculate in 6% inflation which means $100 today will only have the purchasing power of $96 next year and so on.
If you were to get fired today, you would be broke in two weeks.

3. Your bank fees each month are more than any interest you earn.

This is similar to leaving money on the table. Financially responsible people pay attention to bank fees. If you are being charged $10 per month by your bank you should know why and you should have a plan for making that charge go away. Banks should be paying you for the privilege of keeping your money, not the other way around.

2. Your retirement plan projects receiving large inheritance.

If your parents or a relative leave you a large amount of money when they die that is great. However if that is your financial plan you may be in for some disappointment. First, if they are truly wealthy they are probably going to be more interested in leaving their money to someone who displays financial responsibility. Second, they may find other uses for their money. It isn’t uncommon for someone to spend their life savings on healthcare costs at the end of their life. With some of the newer technology being developed, it may be possible for people to increase their lifespan but at a very great expense. Don’t count on that money being there.

1. Your wheels cost more than your car.

It doesn’t just have to be the wheels on your car. Any time your financial priorities are out of balance it is a pretty sure sign you aren’t going to acquire any wealth. Other examples include: Your video game collection is the largest portion of your net worth. You don’t have any money to repair your car, but you a new plasma television.

Good management of your finances can have one of the biggest impacts on your productivity because it determines how efficient you convert your time into money into the things you need. On Wednesdays we are discussing the financial aspect of productivity.  Watch for more financial posts in the future.

6 Ways to Appear Smarter

In life, many opportunities are tied to what other people think of you. If the people around you think you are smart, you are more likely to get asked to participate in projects that will enhance your career. If people think you are dumb, you’ll probably be passed over.

Assuming that you are actually smart you don’t have to fake anything. Your goal is to make people think of you as a smart person. Humans aren’t particularly good at judging the intelligence of someone else. Here are six things you can do that will help enhance people’s perception of your intelligence.

1. Ask More Questions

Most people try to show how smart they are by telling others what they know. This often backfires. It is easy to appear arrogant. In addition, the person who always acts like an expert on every subject is likely to be regarded with some suspicion.

Asking intelligent questions can showcase your intelligence much more effectively than showing everyone how much you know. There are several reasons for this. The first reason is that most truly intelligent people are extremely teachable–that is how they became so intelligent. If you are trying to act smart without exhibiting teachable behavior people will think you are a fake.

The second reason asking questions is effective is because almost everyone thinks of themselves as smart. By asking questions you give them a chance to showcase their knowledge–something most everyone loves to do. Since they consider themselves to be intelligent and you are asking questions about the areas where they consider themselves to be experts, you must be intelligent as well–after all you are interested in the things that they consider to be important.

Obviously you can’t go around asking extremely stupid questions. You want to show what you know in a way that allows them to talk. Consider the following question when talking to someone who deals with furnaces and air conditioning units:

I was reading about geothermal heat pumps. What do you think about them? Are they really as efficient as people say?

You’ve displayed your knowledge, but left room for them to be the expert. This will make you appear far smarter than simply giving a monologue that tries to illustrate how much you know.

2. Be the Last to Speak

Don’t be quick to talk. If a matter is being discussed let others speak first. Taking the extra time to refine your thoughts can make a big difference in how you are perceived. If you have the final word and simply summarize the good points made by everyone else, people will remember your contribution more than the people who really came up with the idea. I’m not suggesting that you steal others ideas, but restating the best ideas (even when giving others credit) will make you look smarter.

3. Cite Your Sources

Random information seems suspect. Referencing your source can be very valuable in how you are perceived. I’ve been around some people who act like they are an expert on everything. After a while they start to appear like a know-it-all, and people suspect that they are just making things up.

Citing your sources can be as easy as saying “I read a newspaper article that said…” or “If I remember the paper correctly, some scientists say…”. Citing your sources will make you appear more credible, humble, and it gives you a way out if you are wrong.

4. Enjoy the Arts

In a culture where most people’s entertainment consists of movies and television, you can set yourself apart by going to the ballet, opera, museums, etc. For example, assume you are talking to two coworkers of similar esteem. You ask one what he did over the weekend and he says, “I watched Simpson reruns.” You ask the other and he says, “I went to see the opera.” Who will seem more intelligent?

Obviously the person who keeps harping on the fact that they went to the opera is going to be considered annoying. But diverse cultural experiences are often mistaken for intelligence. As long as you aren’t trying to flaunt your experience it can make you appear smarter.

5. Take a Contrary View

This has to be done delicately. Simply disagreeing with everyone around you will not help. However, having a well reasoned position that is different than others shows you are capable of independent thought. You must be careful not to insult the people. Keep in mind that you are probably not aware of all the relationships that exist. Taking the position that the CEO of your company is doing a poor job while talking to his daughter will not make you look intelligent.

Here is an example: I personally feel that The Nutcracker has single handedly done more damage to ballet in this country than anything else. Most people’s exposure to ballet is seeing The Nutcracker around Christmas time and the plot is so incredibly boring that Americans as a whole have formed an unnecessarily low opinion of how stories can be conveyed through classical dance.

This opinion is probably contrary to most people’s views, but it provides an excellent starting point for a conversation (assuming I’m talking with someone who is at least slightly familiar with ballet). Even if you disagree with me, as long as I’m not presenting my ideas in an arrogant manner, the conversation has a reasonable chance of helping establish me as someone willing to think differently than the average person.

6. Carry “Smart” Reading Material

It is better if you actually read the material, but since we started with the assumption that you are smart we can probably also assume that you regularly read “smart” things. You could carry around a copy of the Harvard Business Review or the Wall Street Journal. You are simply managing perceptions and trying to make sure people associate you with sources of information that they think are intelligent.

And there you have it. Six things you can do that will make you appear smarter. If you are a total idiot these tips probably won’t help you. If you are reasonably smart they may help people take a bit more notice of your intelligence. The real value of this list is becoming aware of how your actions and conversation help shape people’s perception.

Executive Summary

• Since people consider themselves smart, asking questions about their areas of expertise will make them think you are smart as well.
• Restating the best ideas of a conversation will make you look smarter.
• Citing your sources makes you appear more credible and gives you a way out.
• Diverse cultural experiences are often mistaken for intelligence.
• A well reasoned contrary position shows you are capable of independent thought.
• Make sure people associate you with sources of information that they consider intelligent.

Reader Question - Memorization

How should I memorize a speech?

I don’t generally memorize any of my presentations. If you create a detailed outline and then practice giving your speech to a few friends, you’ll probably do fine unless you have really bad stage fright.

If you do have stage fright, simply memorizing your speech word for word is likely to cause you problems because it will be difficult to remember while under pressure. If you want to give your speech word for word, you can memorize it, but keep the speech with you just in case you have to revert to reading the speech. If you do this, make sure you use some type of method to keep track of where you are in the speech. You don’t want to stumble around for 2 minutes trying to find your place if you get lost.

For verbatim memorization, checkout this method. It contains a simple tool for practicing memorization.

On Fridays we publish questions from our readers. If you have a question you’d like to see answer here, please send it to questions@productivity501.com. 

Productive Home Office

Earlier I asked readers to share their favorite home office tip as a follow up to the previous interview. Here are the responses:

Many of my clients struggle with organizing their offices (home or otherwise) because they try to fit a “square peg into a round hole.” Meaning, they try to use systems and setup that works for others, but does not match the way that they think and function.

Recognize are you an “innie” or an “outtie”?

Innies are people that function better (are more creative, get more done, etc.) when their space is clear. They can frequently get distracted to other tasks if there are piles laying around. Tools good for innies are systems with drawers and cabinet doors. Only the project currently worked on is out.

Outties are people that would hold the thought “out of site is out of mind.” Frequently outties have sticky notes all over the place to help them remember tasks. Things behind closed doors and drawers would be detrimental for this type of thinker. A better furniture choice would be open shelving and open file cabinets (the wire kind on casters.)

Stephanie LH Calahan from Productive & Organized - Finding Your Way (rss)

This is good advice. If you aren’t most productive with an immaculate office, then don’t beat yourself up trying to keep everything off of your desk. This isn’t an excuse for being disorganized, but it is very important to recognize who you are as an individual. Just because someone else keeps their office in a certain way doesn’t mean that is best for you.

Don’t save paper you don’t need. I’ve seen lots of people whose file cabinets include nicely-organized utility bills for the last 10 years - and these are people who don’t take a home office deduction and have never once referred to the papers since they filed them.

I’ve also found with my own files that many things I used to keep in paper form I no longer need - I’ve replaced the paper with computer bookmarks in my browser.

Stuffing the file cabinet full of useless paper makes it harder to file the things you truly do need or want to keep.

Jeri Dansky from Jeri’s Organizing & Decluttering News (rss)

I usually try to clean out my paper files once each year. This will be even easier now that I’ve implemented my paperless system. I don’t know how much harm it does to keep lots of files if you have a good system and don’t plan to move much, but in my opinion the less stuff you have the better.

Make sure you consider ergonomic standards as you set up your home office. You only have one body — make sure it will be comfortable in your setup! Desk height, chair adjustments, placement of tools, use of a footrest, and so on can all make a huge difference in your comfort and therefore your productivity. In fact, I would say scrimp a bit on the technological tools to have a little money to ensure your comfort.

Julia Benson-Slaughter from Art of the Firebird (rss)

I know that for me it is easy to get so focused on the technology and systems of my work process that I miss the simple things like positioning my chair correctly or sitting an appropriate distance from the monitor.

Productivity and Finances

A lot of people tend to think of productivity in a vacuum.  They want to get more done.  However at the end of the day your work translates into money which translates into purchasing power.  Sometimes instead of just concentrating on how to do more work, it is more efficient to concentrate on the conversion process–how the work turns into money and then turns into things you need. 

For example, if you currently work for $50 per hour and  you are able to make a change that allows you to turn  your work into money at a rate of $75 per hour, you’ve increased your productivity by 50%.

On the other hand, if you can make your money go further you can also increase your productivity.  For example, if you live in an area where your housing costs are $30,000 per year and you move to an area where your housing cost is $15,000 per year (but your income and other factors are still equal) you’ve significantly increased your productivity.  The amount you have to work in order to pay for housing has been cut in half.

Don’t get so caught up in trying to do more that you miss opportunities for productivity other than just doing more work.

This post is the first of several Wednesday posts on finances.  Watch for more financially related Wednesday posts in the coming months. 

Productivity501 Store

Productivity501 is launching a webstore with products specially selected to help make you more productive.  In particular be sure to check out the paperless category.

Here are some other items that might be of interest:

• Mozarts Brain and the Fighter Pilot - A great book about how the inner workings of the human mind.
• Hon Leather Chair - My personal favorite work chair that I’ve been using for over 5 years now.
• Surely You’re Joking Mr. Feynman - The biography of an incredibly gifted scientist.  It is sure to challenge the way you see the world around you.
• Mindmapping - This is the book I purchased years ago before taking an intense college history course that had been condensed down to seven eight-hour days.  Not only did the book help me pass the class, it changed the way I approached note taking.
• Blackberry 8830 - The most productive phone on the market.
• Garmin Nuvi - How I keep from wasting time getting lost while traveling.
• ScanSnap for Mac - The scanner I’m using for my paperless office.

The store isn’t huge because I tried to mainly stock it with items I use myself and related products. 

Tuesday’s Tip: Surrounded By What?

Take a few moments to look around your work area. What have you surrounded yourself with? Does your environment help you focus on your long term goals and celebrate past achievement? Does your environment make you want to stay organized and productive?

Most people put too little emphasis on their surroundings. I’m not saying that you have to spend all your time trying to create the perfect office, but you shouldn’t ignore the things around you. Your productivity can be greatly influence by your outlook and your outlook can be greatly influenced by your surroundings.

For years I never had a picture of my wife on my desk at work. It wasn’t that I didn’t love my wife, but it just seemed like an extra piece of stuff on my desk. Eventually I ended up with a framed photo of her and decided to take it to work and put it on my desk. I noticed that I was much happier after I put her photo there. Seeing her smiling face made me feel good and it helped me get more done.

I have also found it helpful to keep framed awards and diplomas on my walls around my work area. It may seem silly, but when I’m stumped on a particularly difficult problem I tend to lean back, notice one of the awards or diplomas and think “This problem is nothing compared to what it took to earn that!” It is a simple thought, but it helps me keep things in perspective and stay optimistic.

A messy office breeds a messy office. Having a clean office encourages you to keep your office organized. I have heard that the best chefs in the world keep their kitchens clean as they go. When they are finished cooking, they don’t have a huge pile of dirty mixing pans and measuring cups because they clean them as they go. You can take care of your work area in the same way. It is easier to spend a few extra seconds staying organized (when everything is already in order) than it is to invest 5 hours in organizing everything in a messy office.

Share Your Answer - Tips for a Home Office

Recently we did a group interview with a bunch of bloggers.  Each one was asked for the single most important tip they could share for setting up a home office.  The answers were great and I know I learned quite a bit by reading through them.

Now is your chance to participate.  If you have a tip on setting up a home office you’d like to share, please submit it here.  If you have a blog or website be sure to fill in the appropriate blanks–if people like your answer they may want to checkout the other things you’ve written.

We will only keep things open until Tuesday afternoon, so if you have something to share, please do it right away.

I’m experimenting with some new technology for collecting the responses.  If something seems wrong, drop me a note at mark (at) productivity dot com.

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