I Officially Have A Job

Great news! I was offered a position at Delaware Investments and I have accepted the job. I start June 2nd. I will give you more information sometime in the next week. -----Sincerely, Trevor.



Career Development, Delaware Investments, Good News

Journalizing

One of the most important steps in the accounting process is Journalizing. The Journal is where every transaction should originally be recorded. Since ledger entries may go to multiple accounts on various pages or in various files, the journal is essential because it is the one book with nearly every entry in chronological order.

Each entry in the journal will have a date, the list of associated accounts with that entry, and a debit that equals a credit. Here is one such example:

Jan. 4          Inventory                      350 Debit
                     Accounts Payable                            350 Credit
                     (Purchased Widgets on account,
                     payable in 10 days)

Hopefully the html code and formatting looks okay. You should see a Debit in the left column and a credit in the right column. As you can see, there was inventory purchased on credit. There is an increase in an asset and in a liability account, so as to maintain the accounting equation. Also, the debit equals the credit.

This is just a simple example, but it could be extended to more complex situations. The idea here is that all transactions need to be recorded in the journal first, before the ledger. For more examples, take a look at this webpage over at NetMBA. Click HERE.

The next step in the accounting cycle is the Posting process, and we will talk about that next time. Thanks for visiting.
----Sincerely, Trevor Stasik.

---

To return to initial post in my Accounting Review Guide, click HERE.

---

Journalizing, Accounting, Accounts, Cycle

The Accounting Cycle

There are a cycle of procedures performed, transactions recorded , and statements prepared every accounting period (typically monthly). At the end of the period, the cycle continues around again.

Over the next several entries I will discuss some parts of the accounting cycle in greater detail. In my next blog post, I intend to discuss the process of journalization.
--Sincerely, Trevor Stasik.

---

To return to initial post in my Accounting Review Guide, click HERE.

---

Accounting Cycle, Journalizing, Accounting, Process

Basic Accounting Equation

Today I will continue with my review of basic accounting. There is an essential equation in accounting which forms the foundation for the entire system. This equation states that the sum of Liabilities and Owners' Equity equals the sum of Assets. This equation is the bridge between accounts and explains why a double-entry accounting system is necessary. For every entry made to a debit, an equal amount must be applied as a credit somewhere else. All Debit columns must be able to be added and have their sums equal the total of the credit columns. Also, if there is a change to an asset account, an equal change must be made to a liability or owners' equity account.

Let me give you two or three examples and hopefully this will become a little more clear for you:

---

Owners invest $70,000 in company in exchange for stock.
The $70,000 is added (via debit) to the Assets. At the same time, to maintain the equality in the accounting equation, there is also $70,000 added to the Owners' Equity (via credit).

---

Pay $500 in cash to pay wages.

This time there is a decrease in Assets (via credit) and an accompanying decrease (via debit) to the Owners' Equity Account.

---

Receive $1,200 cash from customer for services.I think you are starting to get the idea! You had an increase in assets (via debit) when you received the money, and an equal increase in the Owners' Equity (via credit). If take a look, the accounting equation remains true and the debits equal the credits.

---

Paid $2,000 cash to a vendor for new equipment.
This time you are merely exchanging one asset for another, so there is no change to the Liabilities or to the Owners' Equity.

---

Declare a $6,000 dividend
In this final example, the company has made an obligation for itself which must be recorded. There is a decrease in the Owners' Equity (via debit) and a corresponding increase in the Liabilities (via Credit).

---

These are just a few simple examples. There are many, many, many more possible. It is my hope that you will take the time to seek them out for yourself to learn more. Stop back to my blog again soon. Next time I will introduce and discuss the Accounting Cycle.
--------Sincerely, Trevor Stasik

---

To return to initial post in my Accounting Review Guide, click HERE.

---

Accounting Equation, Assets, Liabilities, Owners Equity, Debit, Credit, Financial

Debits and Credits

Debit and Credit: Two very simple words that can be mixed up if you are not careful.

Out in the non-accounting world, the word "credit" gets thrown around as a term meaning that you owe someone money, often swiped on a card or obtained through a loan. "Debit" is often used in the non-accounting world in conjunction with a "Debit Card" to mean that you want the money taken from your checking account.

However in accounting, debit means left and credit means right.

In the recording process in a double-entry accounting system, there are two columns under each account. These are the Debit and Credit columns. A normal balance for Asset Accounts and for Expense Accounts is a Debit. A normal balance for Liability Accounts, Equity Accounts, and Revenue Accounts is a Credit.

This may not make sense yet, but I will explain it more in my next entry when I discuss the basic accounting equation. Thanks for visiting.
----Sincerely, Trevor Stasik.

---

To return to initial post in my Accounting Review Guide, click HERE.

---

Debits, Credits, Accounting, Double-Entry Accounting System

Sneak Peek: Michael Porter's Five Forces

Five Forces, Michael Porter

Useful Accounting Terminology

Here is a list of some of the basic verbiage and terminology used in Accounting. You should familiarize yourself with these because you will see them used again later.

Event: A happening that will cause a change in assets, liabilities, or equity.

Transaction: An external event between two or more entities.

Account: An arrangement of transactions to show the effect of transactions and events on assets and equity. There should be an account for each asset, liability, expense, and for capital.

Real Accounts: Permanent accounts set up for assets, liabilities, and equity. These accounts will appear on the balance sheet.

Nominal Accounts: Temporary accounts such as revenue, expenses, and dividends. These accounts will be closed periodically.

Ledger: The book or computer file that contains all of the accounts.

Journal: The book of original entry. All transactions and events are recorded here first, and later posted from here to the ledger.

Trial Balance: A list of all open accounts in the ledger and their balances. Two types of trial balances are the "adjusted trial balance" and the "post-closing" trial balance.

Adjusting Entries: These are made at the end of an accounting period so that accurate financial statements may be prepared.

Financial Statements: Final summaries (or scorecard) of accounting data for a given period. The types of financial statements are the balance sheet, the income statement, the statement of cashflows, and the statement of retained earnings.

Closing Entries: The entries that close out the nominal accounts for the period, reducing them to zero. This is when a net income would be determined and transferred to an owners' equity account.

Stop back next entry when I discuss what Debits and Credits are.

---

To return to initial post in my Accounting Review Guide, click HERE.

---

Accounting, Ledger, Terminology, Journal, Accounts

Introduction To Accounting

So what is this thing called "Accounting" anyway? It's simply a series of methods and processes used to track and report the financial flow in a business.

When businesses offer goods and services in return for money, clerks and accountants post journal and ledger entries to track how and when this money comes in. They do more than just track sales. Accountants also track money that goes out of the company to pay for expenses, taxes, and other things. Any change to an asset such as depreciation will also be recorded. The accountants are often the people who make up the financial statements, which are like the scorecard for the company's growth. In most firms, accountants follow the Generally Accepted Accounting Principles in ensuring standardized and truthful financial information.
(To Learn More About GAAP, Click HERE))

Accountants and the clerks that help them, serve a very vital role in ensuring that the company's assets are properly accounted for.

Stop back next entry when I discuss some of the basic verbiage and terminology used in Accounting.

---

To return to initial post in my Accounting Review Guide, click HERE.

---

Accounting, GAAP, Methods and Processes, Assets

Basic Accounting Review Guide

Over the next few weeks, I will be providing a review of some basic introductory accounting. This should help you in familiarizing yourself with what accounting is, how it is used, and how to do it. This guide will be a useful refresher for those that have not used accounting in a while, but is not intended to be a complete instruction tutorial.

(Note that much of the information I am discussing in this series of posts is borrowed from "Intermediate Accounting" by Kieso, Weygant, and Warfield.)

This is an outline of topics I intend to cover over the next series of blogs. As I finish future entries, I will come back to this entry and drop in links to those posts.

---

ACCOUNTING TOPICS

Introduction To Accounting

Useful Terminology

Debits & Credits

Basic Accounting Equation

The Accounting Cycle

1. Journalizing
2. Posting To The Ledger
3. Trial Balance
4. Adjusting Entries
5. Adjusted Trial Balance
6. Closing Process
7. Post Closing Trial Balance & Reversing Entries

Work Sheet

Preparing Financial Statements

1. Review Of The Elements of A Financial Statement
2. Income Statement
3. Statement of Retained Earnings
4. Balance Sheet

Ethics in Accounting

Summary of Topics Covered

---

I will likely space out the posts regarding this Accounting Review with other topics in between days. I hope you will stick with me while I attempt to review the topic and teach you a bit about it. Hope to see you back here soon.
---------Sincerely, Trevor Stasik.




Accounting, Terminology, Debits, Credits, Accounting Equation, Accounting Cycle, Accounting Journal, Ledger, Trial Balance, Adjusting Entries, Closing Entries, Financial Statements, Income Statement, Balance Sheet, Retained Earnings, Ethics

International Business - Speaking the language

Español:
Estoy utilizando la nueva página de la traducción de Microsoft para escribir este texto. Esperanzadamente usted puede leerlo sin él que suena demasiado extraño. Pues el negocio internacional se convierte en menos de una tendencia y más de una manera de vida, es importante que intentamos ensanchar nuestra lingüística. Estoy incluyendo el texto para esta entrada del blog en inglés y español para subrayar este hecho.

Parte posterior de la manera en 1996, cuando estaba en High School secundaria, encontré el uso muy pequeño para un idioma extranjero. Cada clase española que senté parecía a través como una tarea. Mi carencia del interés me ha dejado con muy pocas frases que entiendo en español. Sin embargo, deseo que hubiera conservado más de la lengua. En negocio, el poder alcanzar otros mercados significa más dinero en su bolsillo. Significa que las compañías pueden vender sus productos y servicios a los individuos por todo el mundo.

Armado con este conocimiento, le imploro para explorar una nueva lengua o para volver a aprender viejo que usted ha perdido. Quisiera comunicar con la gente que habla otras idiomas sin la necesidad de un traductor. Después de que acabe la universidad y consiga un trabajo, planeo tardar la época de volver a aprender español. Es una habilidad valiosa y un aumentador de presión del curriculum vitae. Espero que usted disfrutara de este experimento lingüístico con la traducción del blog. Cáigame un comentario y dígame hola en cualquier lengua que usted sienta gusto.
-----------Sinceramente, Trevor Stasik.

English:
I’m using Microsoft’s new translation page to write this text. Hopefully you can read it without it sounding too strange. As International Business becomes less of a trend and more of a way of life, it is important that we attempt to broaden our linguistics. I am including the text for this blog entry in both English and Spanish to underscore this fact.

Way back in 1996, when I was in high school, I found very little use for a foreign language. Every Spanish class that I sat through seemed like a chore. My lack of interest has left me with very few phrases that I understand in Spanish. However, I wish I had retained more of the language. In business, being able to reach other markets means more money in your pocket. It means that companies can sell their products and services to individuals worldwide.

Armed with this knowledge, I implore you to explore a new language or re-learn an old one that you’ve lost. I would like to communicate with people that speak other languages without the need of a translator. After I finish college and get a job, I plan to take the time to re-learn Spanish. It’s a valuable skill and a resume booster. I hope you enjoyed this linguistic experiment with the blog translation. Drop me a comment and tell me hello in any language you feel like.
-----------Sincerely, Trevor Stasik.




traducción de Microsoft, negocio, international business, language

Profit Margin

Companies are in the business of making money.
While that fact is true, there is more that goes into it. Companies are looking to make more money than the cost expended in making it. After a firm sells a product or service it receives revenue. That revenue is not profit. Prior to considering it as profit, costs and expenses need to be subtracted along with things like taxes. That value at the bottom would be considered your "net income".

Simply subtracting the income from the revenue will give you the profit. However, this is not the profit margin. The profit margin is a ratio of net income to net sales revenue.This is a measure of telling how much money a company made in profit for every dollar the company made in sales. This can be useful for investors and analysts, it can be more useful tool for the decision makers inside the company. It can be a way for them to see what products or services are costing too much and if cost controls are working.

Hopefully this post has been helpful for you. Feel free to leave me a comment.
-----Sincerely, Trevor Stasik.




Financial Analysis, Profit Margin, Net Income, Sales Revenue

Book Review: Rome Inc. Light and Fun Romp

Rome Inc.: The Rise and Fall of the First Multinational Corporation
Written by Stanley Bing, this was a light, fun, and electric romp through ancient Rome. The first half of this book did a good job comparing aspects of Roman life to modern business lessons. Most of this material was glossy and has been better covered elsewhere. The most interesting discussions from the early half of the book was a short discussion about the very first "labor" strike in recorded history and a few paragraphs about Hannibal.

However, things get really interesting about halfway through the book when Mr. Bing pauses to focus on a few key individuals. The chapter about counsul Caius Marius was brutally good about a mogul who just won't die. He described Marius as "a crazy, juiced up, bombastically angry mother, and he wouldn't stay down, no matter what."

Then we came to my favorite chapter, the one about the big toga on campus Julius Caesar. Julius Caesar was more than just a pre-modern day Mogul and CEO. He was an example of how to acquire an empire and how to lose it. The book describes some of Caesar's attributes such as:

Ambition - he set a higher standard for himself. He compared himself to the great Greek CEO tyrant Alexander.

Boldness - He did what he thought needed to be done, when he wanted to do it. He didn't feel that it was always necessary to follow what was done in the past.

Planning and Strategy - Caesar followed the old Sun Tzu dictum that you should not engage in battle until you are assured victory. In the rare situation where his army was outmatched, Caesar had no problem with calling it a day. How many others would continued to waste resources on projects that are destined for failure simply to save face.

Quotable - Caesar was much like President Reagan. He was a master communicator and he could turn a phrase that could encourage all of the land.

Later in the book, there is an interesting bit about Constantine and how he transformed Rome into something more recognizable as the Roman Catholic Church. The ability for Rome and corporations to adapt and transform may be their greatest strength in lasting the ages.

If you're looking for a good time, this is a fine book to escape in for a few hours. Take it home and enjoy with a good wine or beer.

I'd rate Rome Inc. three and a half stars out of five.
Drop me a comment if you've read it and what you thought about it.
-------Sincerely, Trevor Stasik



Rome, Multinational, Stanley Bing, Book Review

Trevor Stasik, Financial Resume

I have posted my resume previously, but I thought it would be good to do a refresh and polish on it. This is my extended professional resume. I thought that I should post it again so readers have a better understanding about my background. I am currently seeking financial positions, so if you are a recruiter, please email me or drop me a comment.
(UPDATE 10/19/2008: CURRENTLY WORKING AT DELAWARE INVESTMENTS AS A SERVICE ASSOCIATE. HAVE SERIES 6 LICENSE. )
(UPDATE 3/01/09: HAVE BEEN PROMOTED TO SERVICE CONSULTANT AND HAVE BOTH SERIES 6 AND 63 NOW. NEW RESUME COMING SOON. SEE LINKED IN FOR MY CURRENT DETAILS.)

---

Trevor Stasik

tstasik@temple.edu
1148 Neshaminy Valley Drive
Bensalem, PA 19020
tel: 215.833.6384


EDUCATION:
TEMPLE UNIVERSITY, Fox School of Business, Philadelphia, PA
Bachelor of Business Administration, May 2008
Primary Major: Finance
GPA: 3.75, Summa Cum Laude
Related Courses: Investing, Corporate Finance, Accounting I-III, Real Estate Investing, Managerial Economics, International Financial Management, Operations Management, Business Policies, Seminar In Financial Management, Risk Management and Insurance, Business Ethics
Second Major: Film and Media Arts

EXCELSIOR COLLEGE, (formerly known as Regents College), Albany, NY
Associates Of Applied Science, 2000
Specialization in Nuclear Technology


EXPERIENCE:
FINANCIAL MANAGEMENT ASSOCIATION, Student Organization, 2006 - Present
Vice-President of Communications, 2007
• Lead team in successfully publishing newsletters, upgrading website at www.temple-fma.org, distributing email to over 200 members, and marketing to student body.
• Created innovative new videos for use on website with FMA corporate sponsors Enterprise Rent-a-Car, SEI Investments, and Prudential Financial.
• Received the Most Valuable Member Award for FMA.
Newsletter Director, 2006

OFFICEMAX, Fairless Hills, PA (Varied full time and part time) July 2003 - Present
Print and Document Services Associate
• Coordinate reprographic, computer graphic design, and other business media services for individuals and small business clients at an office supplies retailer with $5 - 10k in weekly departmental sales.
• Work closely with clients and external vendors on business card and stationary design, operation of 8 printer/scanners, a hydraulic cutter, a folding machine, binding machine, and troubleshooting equipment repairs and maintenance.
• Placed over a thousand DHL orders manually and via computer, tracking packages, and successfully ensuring that all orders reached their proper destinations.

SELF-EMPLOYED FREELANCE FILM AND VIDEO Philadelphia, PA
Positions Include Producer, Writer, Gaffer, Grip, Production Assistant (2002 - 2003)
• Full list of contracts fulfilled available upon request. Industry, Independent, and Student.
• Wrote and Produced Short Film “Quitting Is For Losers”, shown at 2005 Coatesville, PA Film Festival.

UNITED STATES NAVY, Carl Vinson CVN-70 July 1996 - July 2002
Nuclear Electrician, Petty Officer 3rd Class
• Maintained and operated the four steam driven electric generators and four motor generators on the Aircraft Carrier Carl Vinson, which provided the power for the ship.
• Maintenance included monthly inspections, extensive log keeping, intricate repairs and laborious carbon brush changes.
• Trained and oriented up to 20 Electrician Mates on control panel operation of the generators, 4160 volt circuit breakers, backup diesel generator operations, and emergency reactor shutdown procedures.
• Monitored and maintained 16 salinity chemistry and salinity safety alarm modules including the Steam Generator High level/Low level alarms resulting in the 100% safe operation of the Nuclear Reactor.


COMPUTER SKILLS:
• Microsoft Office Suite (including MS Access)
• Microsoft Publisher
• Adobe Photoshop

---

If anyone has any questions about my experiences, please send me an email.
If you have any comments about how to improve my resume, please leave me a comment so that all of my readers can benefit from your tips and advice.
Thanks for visiting. ----------Sincerely, Trevor Stasik



Trevor Stasik, Financial Professional, Resume, FinanceCarl Vinson, Nuclear Power, Business, Finance, Introduction, Nuke, Navy, Stasik EM3Electrician Series 6, Temple UniversityFMA

Fed Funds Rate Predicting

A discussion about Ben Bernanke and the Fed would not be complete without a discussion of where the Fed Funds Rate is going? The current rate is a 4.25%. How can you predict this ahead of time, and perhaps ahead of the markets? Can managers prepare for these changes? Predicting what decision the Fed is likely to make can be a valuable tool for financial analysts, managers, and investors. An article by Michael Hunstad in the November "AFP Exchange" journal describes 5 predictive indicators that can be observed prior to a fed decision.

Sudden CPI Shock: A slow growth or decline in the CPI is less likely to prompt Fed Rate action than that of a rapid, sudden jump. Should there be a spike in the CPI, inflation may be perceived as quickly rising and the Fed will be more likely to raise rates to curb spending.

Long Leading Indicator: Put out by The Conference Board, this is an indicator relating to economic growth. When there is stronger growth, the Fed may be more likely to raise rates to keep the economy from overheating. The Fed may also be more likely to lower rates if economy appears to be contracting.

Corporate Credit to 10-Year Treasury Spreads: The difference in yield between a "Baa" rated corporate bond and a 10-year U.S. Treasury Bond can be important. The greater the spread, the greater the perception of risk of companies with low credit ratings. As these companies are often the ones most affected by a recession, a greater spread can be a leading indicator of a coming downturn in the economy. The Fed in observing this my lower rates to reduce the severity and duration of the recession.

Spread between 6-mo T-Bill and Fed Funds Rate: When these bonds approximately equal the Fed Funds Rate, the economy is in near equilibrium. However, a deviation in which the 6-mo T-Bill rate is lower than the Fed Funds Rate represents investor confidence in anticipating a rate cut. As Mr. Hunstad states in his article "This results as T-Bill investors are willing to take a lower yield today because they expect future interest rates to be lower". The Fed may be likely to move in that anticipated direction.

Previous Fed Action: This is the easy one. A Fed Funds Rate in motion is likely to remain in motion, a Rate at rest is likely to remain at rest.

Overall, observing these 5 indicators can help you make more educated predictions about where the Fed Funds rate may be headed. For more detailed information, I suggest you read the entire article in the November "AFP Exchange" magazine.

Thanks for visiting. I would love to hear from some analysts, managers, and other professionals. Please drop me a comment below and discuss your own insights into predicting the Fed Funds Rate.
--------Sincerely, Trevor Stasik.


Fed Funds Rate, Prediction, Financial Analysis, Ben Bernanke, Hunstad, AFP, T-Bill

Competitive Advantage

MERRY CHRISTMAS! It's been several days since I got back from Arizona, but I've been too busy to post this. Here is an entry I wrote while I was down there:

---

Allow me to spend a few minutes with you. I'm still on vacation visiting my Girlfriend's relatives down in Arizona. It's quite beautiful here despite the vast amounts of construction going on. Right now, I'm on my trusty PDA (Dell Axim X51V) typing this post and I'll upload it when I get home. Today I'd like to talk a little about Competitive Advantage.

Competitive Advantage:
The marketplace positioning that a business does which improves its profit margins relative to competitors in the same industry. In other words, the company with competitive advantage has something the others don't have. There are two types of competitive offerings that a company can offer - Cost Advantage and Benefit Advantage.

Cost Advantage:
It's no wonder that companies such as Walmart do not win customers by providing superior service, superior products, and innovative superior ideas. That's not to say that Walmart companies are all bad. They still provide fair service, reasonable products, and time tested ideas. Companies such as Walmart don't compete the way a company such as Apple might, because instead of offering more benefits to the customer, they are offering lower prices. Customers go to Walmart expecting the best deal for their dollar. The consumer will often seek out the firm with the lowest cost to that individual.

Benefit Advantage:
As mentioned a moment ago, companies such as Apple do not pursue a cost strategy. Instead, they seek to charge a higher price by offering powerful, unique, or specialized benefits that other firms in the industry cannot provide. Apple has had a significant benefit advantage in the portable music player market. Other firms can and do create quality music players at a lower price, but they have been unable to succeed in the way Apple's Ipod product has. The reason is that consumers see all of the benefits in an Ipod as being worth the added cost. Benefits such ease of use, a deep library of music, stylish case, and large display screen have convinced many consumers to pay the higher charge. These benefits have enabled Apple to make a larger profit margin and gain in the marketplace.

As you have seen, a Competitive Advantage is a valuable thing for a firm to seek. Find out how you too can create value for your customers, either through lower prices or greater benefits. You may then discover greater profitability for your firm by pursuing a focused strategy in one of those areas.

Thanks for reading. If you'd like to say something, please add a comment below.
----Sincerely, Trevor Stasik.




Competitive Advantage, Walmart, Apple, strategy

Video With SEI Investments

Okay, I'm getting ready to go to Phoenix, AZ to visit my girlfriend's family. I will not be posting for the next several days. However, before I go, I'd like to leave you with this new video I just finished for the FMA. It is a video I did with John Campolongo and Clay Stewart of SEI Investments:  https://www.youtube.com/watch?v=HVi9FPAtx-g





SEI, John Campolongo, Clay Stewart, Video

Priority Rules in Dispatching Jobs

There are four different sets of guidelines that a business will commonly use in determining the sequence of order completion. These rules are:

FCFS: First Come, First Served

SPT: Shortest Processing Time

EDD: Earliest Due Date

LPT: Longest Processing Time

These guidelines or rules can be followed by the service industry, manufacturing industry, and retail industry. Actually, they really can be applied in one way or another to practically any business.

FCFS:
First Come, First Served is the idea that the first job to come in, is the first job to be completed. This can be a costly procedure to follow for some businesses, such as those in the manufacturing industry, where efficiency in time and energy are of high importance. However, FCFS is more suited to a retail industry. Customers waiting in line do not like it when others get to jump ahead of them. Diners at a restaurant do not like to be ignored because their order is time consuming. Therefore, FCFS may sometimes be better suited to the retail industry since it appears fair to customers.(Keeping in mind that there are always exceptions).

SPT:
Shortest Processing Time may be the most efficient of all at completing the most jobs in the shortest period of time. This could be of an advantage to businesses and plants with few long term projects. However, if there are long term projects, watch out for missed deadlines. These projects may get bumped back to complete the shorter term projects.

EDD:
Earliest Due Date will minimize your average lateness. If there are fines or contractual penalties attached to project deadlines, this is the plan for you. This may not be the most efficient way for a firm to use its resources, but projects are more likely to come out on time this way.

LPT:
Longest Processing Time is a ridiculous way to run a business. However, it may come in handy to create a "worst case scenario" to plan against. LPT could be useful for that.

These are 4 basic guidelines that businesses can follow. There are others to be aware of including the Critical Ratio and Johnson's Rule, but I will leave those for a future discussion. Knowing how to sequence jobs is an important short-term timeframe management tool. It ensures that a business will run more efficiently and hopefully be successful in meeting priority orders.

Thanks for visiting. Feel free to drop me a comment.



Order Sequencing, Priority Rules, Scheduling, Management

Time Management Matrix

I would like to introduce you to the Time Management Matrix. Frequently discussed by Stephen Covey and Brian Tracy, this is a simple tool that can be used to guide a person's productivity choices. In other words, it can help you make better use of your time. This is perhaps one of the most valuable skills that sets leaders apart from mere mortals.

Here is the matrix as presented by Mr. Covey:

QUADRANT I: IMPORTANT AND URGENT
If you are spending most of your time in quadrant I, then you are likely always stressed and putting out fires. One of the primary problems faced by people living in Quadrant 1 is that when everything is important, nothing is important. By understanding that, you can begin to prioritize tasks. Does that task really need done now, by me? Can that be delegated? Do I need to volunteer for it? How important is it really? With proper planning, fewer tasks will become urgent since they can be taken care of ahead of time.

QUADRANT II: IMPORTANT BUT NOT URGENT
Here is where you are going to get things done. You can spend time working today to prepare for tomorrow. Why put off tomorrow what can be done today? You don't need to finish these tasks right away, but get them started. Think about it like you were building Rome. Before you can build the Colosseum, you should lay down some thick slabs of stone to act as a foundation. These first steps in your long range tasks may be that important, even if they are not urgent or pressing upon you immediately. All of those later steps will build one upon another, like brick upon brick. Before you know it, your task will be done (or Colosseum built if you're a Roman). To maximize your productivity, you should spend most of your time in Quadrant II.

QUADRANT III: NOT IMPORTANT BUT URGENT
Here is a tough choice- to pick up that ringing cell phone or to let it go to voicemail? It can be a tough choice because you may not know who it is or why they are calling. It is something that is urgent, but not necessarily important. There are many tasks that can fill a person's day, but they may not all be the most productive choices. Look at what you need or want to do, and determine which tasks you don't really need to do because they are not really that important. One task that I've had trouble with is the news. I'm a news junkie and I love checking sites like the Drudge Report to see what's going on minute-by-minute. However, I need to fight that urge because it is a waste of time. The news, if not applicable to your life, may be urgent but not important.

QUADRANT IV: NOT IMPORTANT AND NOT URGENT
This is the most useless waste of time. Nothing accomplished here will actually change anything in your life or anyone else's. This is the quadrant of "waste" as Mr. Covey would call it. Hours checking Wikipedia for useless facts, watching 85 episodes of Stargate, or mindless debate of unimportant issues fill this quadrant. Although it can be enticing to lose yourself for a while, Quadrant IV can be destructive if you spend large amounts of time there.

Time management can be a daily struggle, but it is a struggle worth undertaking. It can help guide you and help you find your limits. Proper use of the guide above will help you answer the question: "What is the best use of my time?"

For more information about the Time Management Matrix, check out the website of Stephen Covey HERE and Brian Tracy HERE. For other ideas about time management, check out the Productivity Guru Steve Pavlina HERE. Thanks for visiting.

-----Sincerely, Trevor Stasik.



Time Management, Matrix, Stephen Covey, Quadrants

Invest in Companies With Products You Use - Cold/Flu Products

One theory for easy investing is to invest in what you know. When you open up your medicine cabinet, what do you see and what do you use. I'm in the process of finishing my semester with a cold. Only another week until the semester is finished and I've caught a cold. So, I think that the subject of this entry will be a simple one about some of the products I'm using to battle it. Maybe that will help some investors in figuring out what products some consumers are using. I'm not getting paid for any of the recommendations I'm making here, if you were wondering.

Product #1: Halls Cough Drops - I've used a ton of these. It helps clear up my nose with "Vapor Action". Produced by CadburyAdams, a unit of Cadbury Schweppes, you can invest in through ADRs (American Depository Receipts) on the New York Stock Exchange under the symbol CSG.
Here's the company website for Cadbury Schweppes.

Product #2: Wawa Black Tea with Lemon & Honey - really soothing on the throat, and I highly recommend it. It's a privately owned company, so you really can't invest.
Here's the company website for Wawa.

Product #3: Tylenol Cold Multi-Symptom Day & Night Pack - This helped me get through last night when I was having trouble sleeping and breathing at the same time. Tylenol is a product of Johnson & Johnson, McNeil. You can invest in Johnson & Johnson under the stock symbol JNJ.
Here's the company website for Johnson & Johnson.

Product #4: Zicam Cold Remedy - I don't know if these will work yet or not. My girlfriend Chris convinced me that they are really good, so we'll have to wait and see. This is a product of Matrixx Initiatives, which is on the NASDAQ under stock symbol MTXX.
Here's the company website for Matrixx Initiatives.

So there you have some information about the products I'm using. The theory goes that investors that know the product, will be more knowledgeable in investing in that company. There is a lot of other research that an investor will want to use in making decisions, but this is one tool that can work in combination with many others.

Okay, I need to get ready for my next class. have a good day.
---Sincerely, Trevor Stasik.




Investing, Cadbury, JNJ, Matrixx, Wawa, Cold

Trevor Stasik

A New Direction, Talking About Strategies

Today I'd like to talk a little about "The Game". In general, I'm referring to the Eagles v. Patriots game last night and the direction the Eagles will choose to take their franchise. More specifically, I'd like you to think about this debate metaphorically, about to address how a person or team might attack a decision. Do you have any decisions where it may be time for you to consider a new direction?

The Eagles have a problem. After several seasons of repeated injuries and inability to close the deal during playoffs and the Super Bowl, the Eagles now have the opportunity to choose whether to keep Donavan McNabb as starting QB or change to the AJ Feeley. Donavan had to leave the game early last week due to an injury and was unable to play yesterday. AJ stepped in to fill his shoes and defeated the Dolphins, and came away with a near-win against the Pats last night.

The team has two paths that it can choose. The Eagles can choose to go down the known path with McNabb, who has proven repeatedly that he is injury prone and can't get the team through the Super Bowl. He does have an amazing arm and may yet spring to life like the Donovan of old. AJ has done amazing things in the past (2002) and as long as he isn't passing the ball to Asante Samuel, he looks great.

What strategy should the Eagles take? Is it time to try a new Quarterback or to stay with the old one. A new Quarterback would change the entire direction of the Eagles franchise.So, do you choose the known path that has some potential for success, or do you choose the unknown path with greater potential for success?

It's time for the Eagles to decide.



Eagles, McNaab, Feeley, Strategy

Up or Down?

I just wanted to throw my two cents out there regarding today's market. I think the recent drop in the market will likely continue today and into next week. The general public is starting to wake up to the falling dollar and rising gas prices, and this Christmas they don't have home equity loans to fall back on. Traders are recognizing how this may affect sales for some businesses in the next quarter. The market may pop up here and there, but the next week may be ugly.

Okay, sorry this entry is so short, but this has been one crazy week for me between the job interviews and the classwork.
-----Sincerely, Trevor Stasik.



Markets, Christmas,