Success by the Book

Posted by Dave Lorenzo - Business Coach

I’d like to take a closer look at the foundational components of the elements of Career Intensity, as gleaned from Webster’s, and examine their significance:

work: sustained physical or mental effort to overcome obstacles and achieve an objective or result

Three words jump out at me in this definition, the first of which is “effort”. No one succeeds without making a focused, determined effort. The second word that strikes me is “sustained”. Short-term effort yields temporary gain, while sustained effort yields lasting success. Lastly, I take note of the word “obstacles”. This definition makes clear the fact that overcoming obstacles is an inherent reality of work. The Cycle of Continuous Improvement, comprised of Personal Situational Analysis, Value Creation, and Value Demonstration, emphasizes the vital importance of sustained effort in overcoming obstacles.

career: a field for or pursuit of consecutive progressive achievement especially in public, professional, or business life

I immediately gravitate toward the emphasis on “progressive”. You will only thrive in your career through progressive, stepwise movements upward. One of my favorite quotations, from author Julia Cameron, reminds us that “Progress, not perfection, is what we should be asking of ourselves.” This is a liberating thought. Successful people do not do everything perfectly. In fact, most successful people have learned to get used to some amount of imperfection and forge ahead in spite of it. What they never stop doing is progressing.

goal: the end toward which effort is directed

There’s another mention of effort. Pay attention to where your effort is directed. A big secret of success is that effort is not wasted—rather, it is focused toward a specific end. We all have the same number of hours in each day. Superachievers make better use of their time by being very clear with themselves and others about their intentions and goals.

value: a fair return or equivalent in goods, services, or money for something exchanged

What’s interesting about value is that it is completely user defined. Your clients may be willing to pay $30 or $300 an hour for the value you offer. You have a tremendous amount of sway in influencing the perception of your brand and value.

passion: intense, driving, or overmastering feeling or conviction

Passion is the primary force that drives you to success, and this is why you should not waste your time in work that you aren’t passionate about. You’re not going to fall into a rut if you’re pursuing your passion. You’re going to be overwhelmed with the desire to attain what you want.

luck: a force that brings good fortune or adversity

If luck is a force, and you have the power to affect change in your life, then luck is in your hands. Through your daily choices and actions, you determine your own luck. No one is subject to the whims of the universe. For the most part, we can each control our own paths to success. Good fortune comes to those who seek it.

Cash Based Accounting

Posted by Dave Lorenzo - Business Coach

Cash Based Accounting - an accounting method that enters income and expenses into the books at the time when payment is received or expenses incurred.

 

Capital

Posted by Dave Lorenzo - Business Coach

Capital - the financial investment required to initiate and/or operate an enterprise.

 

Business Services

Posted by Dave Lorenzo - Business Coach

Business Services - services offered to commercial enterprises, such as: equipment maintenance, supplying of part time personnel, engineering, design and management consulting, etc

 

Break-Even Point

Posted by Dave Lorenzo - Business Coach

Break-Even Point - the point at which revenues are equal to expenses.

 

Barriers to Entry

Posted by Dave Lorenzo - Business Coach

Barriers to Entry - conditions that create difficulty for competitors to enter the market. For example, copyrights, trademarks, patents, dedicated distribution channels and high initial investment requirements.

 

Balance Sheet

Posted by Dave Lorenzo - Business Coach

Balance Sheet - a statement of assets and liabilities.

 

Assets

Posted by Dave Lorenzo - Business Coach

Assets - all real or intellectual property owned by the enterprise that has a positive financial value.

 

Accrual Based Accounting

Posted by Dave Lorenzo - Business Coach

Accrual Based Accounting - an accounting method that enters income and expenses into the books at the time of contract versus when payment is received or expenses incurred.

 

Accounts Receivable

Posted by Dave Lorenzo - Business Coach

Accounts Receivable - monies due your enterprise as the result of day-to-day operations.

 

Accounts Payable

Posted by Dave Lorenzo - Business Coach

Accounts Payable - short term debts incurred as the result of day-to-day operations.

 

Accessory Goods

Posted by Dave Lorenzo - Business Coach

Accessory Goods - products required by commercial operations to conduct business, such as: office copiers, automobile wheel balancers, auxiliary power supplies, air compressors, etc.

 

Welcome to the Career Intensity Glossary

Posted by Dave Lorenzo - Business Coach

The Career Intensity Glossary contains terms that are used in business and career development.  It also contains descriptive terms that I use regularly with my clients to help them achieve their goals. We’ll be adding terms to the list on a regular basis. 

Please check back often.

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© 2007 David V. Lorenzo - Business Coach and Advisor