Bias for action. Gets things done. Go-getter. Traits companies big and small look for. And for good reason, you're being hired to do things! However, action is a secondary step that often overshadows the primary step, direction. Clear direction is the foundation that enables our actions to takeoff. Without it, we're stuck in the mud. Striving for clarity is an underrated skill. Having the courage to ask ( seemingly ) obvious questions, and to check in, making sure we're all on the same page. "O bvious " questions are a low risk, high reward way to add value. At worst, you'll add confidence to our actions. At best, you discover a misalignment that saves us from a dead-end. The more people, the more clear we need to be. The bigger the initiative, the bigger the risk of reaching the finish line, only to realize expectations were off. Success is always uncertain. But we can be certain about what we want and what everyone's job is. Things that can be clea
The Time Value of Money (TVM) is the benefit of receiving money now over receiving the same amount later. A dollar today is worth more than a dollar tomorrow. This is because of money's potential. It can be invested in the stock market, earn interest in a savings account or used to start a business. The earlier you have money, the earlier you can take advantage of this potential. TVM Formula The TVM formula is a great tool to demonstrate this concept. Below are the variables behind TVM. FV = future value PV = present value r = rate of return n = # of compounding periods per year t = # of years The formula can be used to calculate future value : FV = PV x [ 1 + (r / n) ] ^ (n x t) This formula can also be re-arranged to calculate present value : PV = FV/[ 1 + (r / n) ] ^ (n x t) The TVM formula can be rearranged to calculate any of the above variables, but today we'll focus on present and future value. Let's take a loo