Posts Tagged ‘health’
During the Oxford Reunion Week, I had many interesting conversations with classmates who were attending the strategy class. I took the same class five years ago, and today I would like to share my biggest takeaway from it – reductive strategy.
What is Reductive Strategy?
When it comes to strategy, most businesses ask, “What more can we do?” Professor Whittington suggested that we ask a different question instead: ”What else can we stop doing?” This question forms the foundation of reductive strategy.
Take my own line of business for example. Most financial advisory firms try to be all things to all people. Some firms even offer to walk clients’ dogs and to be their golf partners. They believe this makes them more competitive. Drawing from the insight of reductive strategy, I don’t do any of those that is 1) not my core competency, 2) not what my clients come to me for. This strategy has helped me build a simple but elegant practice.
Great Savings from Reductive Strategy
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Invest In Your Brain Health
Posted on: December 29, 2023
If you are like me, (I’m in my mid-50s), please take my message to heart: start investing in your brain health because doing so will pay huge dividends.
It’s in our 50’s when our cognitive ability usually begins to decline. If we don’t intervene, this decline will only accelerate as we age. One consequence of cognitive decline is that we become prone to making stupid financial mistakes that can cost us a lot of money! I have seen this happen with my clients, my clients’ parents, and even my own parents. The total amount lost is in the millions. The parents of one of my clients lost their entire life savings to scams. They lost half ten years ago to an email scam. One would have thought they had learned their lesson. No, just this year, they lost the remainder to a telephone scam.
Luckily, this decline is not inevitable. Our brain is like our other muscles, the more we exercise it, the more we maintain, even build up, its strength and power. Here are a few things I have done in the last few years to exercise my brain:
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The Investment Scientist 