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HOW TO APPLY ZERO-BASED THINKING IN BUSINESS


Zero-based thinking is a process of applying change in your personal life or in business by asking yourself this deep question: Is there anything I’m doing today that, knowing what I now know, I would not get into today if I had to do it all over again? Your willingness to ask and honestly answer this question is the key to remaining flexible and quick on your feet in times of turbulence in your personal life or in business as we all have such kind of periods.

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To succeed in business and in life you must be prepared to ask the zero based thinking questions over and over again on a go-forward basis. Is there anything in your life that, knowing what you now know, you would not get into today if you had to do it all over again? If there is, get out as fast as you can. This may be one of the best decisions you have ever made.

Areas that Zero-based thinking process can be applied  your life and business.

1. People:

Are there any people in your life or business, who knowing what you now know, you would never have gotten involved with? If the answer is yes, how do you get out and how fast? People will cause 85 percent of your problems, stress and unhappiness in life.
If the situation has not worked out have the honesty and the courage to admit it. People never change. Under stress they simply become more of what they already are. Never stay in any kind of relationship on the off chance that the person will change someday. Basic personality traits do not change over a lifetime.

Related: Get Around Right People
2. Products:

Are there any products that you are selling today, which, based on what you now know you would never bring into the market if you had to do it all over again? How do you discontinue these products and how fast? You must ask yourself this question if you hope to turn your business around someday.

3. Services:

Are there any services that your business provides today, which, knowing what you now know, you would never bring into the market again today if you had to do it all over again? Remember almost anything seems like a good idea at the time. It is only with experience that you learn it was a bad choice. It is amazing how many products and services continue to be offered for sale even though it is clear that there is a limited market for them, because of the ego problems of the people who approved them in the first place. Never let this happen to you.

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4. Expenses:

Are there any expenses in your life or business that, knowing what you now know you would not incur again if you had to do it all over again? When a company gets into trouble and brings in an expert to turn things around, the first thing the expert will do is eliminate all non-essential expenses. You should do the same in your own business while you still have a choice.

5. Business processes:

Are there any business processes or activities that knowing what you know today you would not start up again if you had to do it all over again? Businesses often engage in a variety of activities that seemed justifiable when the economy was booming and then they continue those activities even after the economic situation has changed. You should put every decision in your business life on trial, on a regular basis.

Related: 4 Keys on How to Master Strategic Selling.
6. Investments:

Are there any investments in your life or business that knowing what you now know, you would not get into again if you had to it all over again. The three main investments that you make are time, money and emotion.
Is there any financial investment that you have made, that knowing what you now know, you would not get into again today? If yes, then the question is, how do you get out and how fast? Are there any investments of time that you have made, that knowing what you now, you would not have put that much time into that particular activity or project again?
Are there any investments of emotion in a relationship, career or something else that knowing what you now know, you would not do all over again?

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In accounting there is a term known as a ‘sub-cost’. This is a cost that is gone forever and it can never be retrieved.
Most of your investments of time, money and emotion are sub-costs. They are part of the past. They cannot be recovered. Never waste time, money or emotion. If you made a mistake in the past, cut your losses and focus on the future.

It takes tremendous honesty and courage to ask the zero-based thinking questions. But once you decide to cut your losses and get out of a situation that you would not get into today, you will always say to yourself, “Why didn’t I do this a long time ago?”

Related: 4 Ways to Change Your Life and Business
Remember.

To succeed in business and in life you must be prepared to ask the zero-based thinking questions over and over again on a go-forward basis. Is there anything in your life that, knowing what you now know, you would not get into today if you had to do it all over again? If there is, get out as fast as you can. This may be one of the best decisions you have ever made.

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