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  • 1. “ 15 Ways to be More Efficient and Have Less Stress in Your Life” Time Management Techniques Prepared by Yuri Piltser November 30 th , 2006
  • 2. “ Power x 3” – Our Foundation
    • Knowledge is Power
    • Pipeline/Contacts is Power
    • Being Organized and Efficient is Power, too
  • 3. #1. File, File, File (paper and e-files)
    • Keep sub-folders in Outlook
    • Keep different color folders (e.g. green for F/S; red for underwriting, etc.)
    • Filing frees you of clutter (like unclogging arteries); file things frequently; empty your “buckets” regularly (also refer to #6)
    • Use Magazine Files (holders) for various projects (as you work, prior to filing)
    • Key Message: Unclutter your work flow and your work space!
    • “ There is usually an inverse proportion between how much something is on your mind and how much it’s getting done.”
    • David Allen (“Getting Things Done”)
  • 5. #2. Delegate Effectively
    • Know who does what within the Bank
    • Keep a tickler/checklist system for the delegated tasks
    • Set the realistic deadlines for tasks you delegate
    • Delegation frees you up to do other things (e.g. business development)
    • Expect a delegated performance at least to equal your own standards
    • Use the delegation of tasks as an effective way of training your colleagues
    • “ Be steady and well ordered in your life so that you can be fierce and original in your work.”
    • Gustave Flaubert
  • 7. # 3. Plan Your Work, Work Your Plan
    • “ Begin with End in Mind” (Steven Covey)
    • Map out your Plan of Action (in the morning);
    • Start every morning with a clean “To Do Today” list; no need to clutter your brain with too many items (“stuff”); Clutter is a major stress contributor
    • Always ask a Question: “What’s my next action?”
    • TaDa and Basecamp lists on the Web are great
    • Review your lists as often as you need to; cross out the “done” items
    • See “ Urgent/Important ” Chart; try to be in the upper tier (i.e. doing what’s important )
  • 8. Not Important but Urgent Neither Important, nor Urgent Important and Urgent Important but not Urgent Importance Urgency
    • “ When hungry, eat your rice; when tired close your eyes. Fools may laugh at me, but wise men will know what I mean.”
    • Lin-Chi
  • 10. # 4. Use Technology/Web Effectively
    • Scan Documents and e-file!
    • Use a Card Scanner (cardscan.net)
    • Label Maker for letters and folders [“P Touch”, “Dymo”]
    • PDA/Blackberry (syncs with Outlook)
    • Send files home via GMail (has a great search feature; holds many gigs of memory).
    • Mini Recorder for notes (on the road/office)
    • Speed Dial for frequently dialed phone numbers (Personal List)
    • Know how to transfer calls, conference calls, redial, etc.; know how to forward calls to your cell when you are out of the office
    • Learn various software tricks/shortcuts
    • “ It is not enough to be busy. The question is: What are we busy about?”
    • Henry David Thoreau
  • 12. # 5. Use “ Cheat Sheets ” for various occasions/Organize your thoughts
    • Help you sound better, more professionally on the phone
    • Don’t have to rummage through memory
    • Prevents “senior moments”
    • You’re more relaxed/”in the zone” as you don’t spend the energy on “what to say”
    • Use Notes on Outlook
    • Index Cards are great for many uses!
    • “ If you find yourself in a hole, the first thing to do is stop digging.”
    • Will Rogers
  • 14. # 6. Take care of your In-Box!
    • After you collect your information, there are only Four “D” choices: Do it, Delegate it, Defer it, or Drop it;
    • Use the OHIO technique
    • If actionable, then ACT! One idea: if it takes less then 2 minutes, Do it! If more, Defer it or Delegate it;
    • If it’s a Project (e.g. underwriting package) – plan it first (use a “Mise en Place” technique, discussed in #8) and then do/execute it
    • If not actionable, you must decide what to do: a) Trash, b) Someday/Maybe or c) Reference (file)
    • “ I must create a system, or be enslaved by another Man’s.”
    • William Blake
  • 16. # 7. FOCUS!
    • Energy follows thought!
    • Don’t get distracted easily by small talk
    • Focus on what the other party is saying; use notepad
    • Don’t open your e-mail every time there’s a ding
    • Focus helps in making work look effortless (e.g. Federer, Woods)
    • To be successful, one must rise above the daily minutue and manifest the Clarity of Focus/”Clear Head”
    • Fly 10,000 feet above the Runway (“daily work”); Be in “the Zone”; pro-active vs. reactive
    • “ You’ve got to think about big things while you’re doing small things, so that all small things go in the right direction.”
    • Alvin Toffler
  • 18. # 8. Put Effective Systems in Place; Be Efficient!
    • Always Search for Efficiencies in Your Daily Work/Routine (even at home)
    • The better your systems are, the more you don’t know you have them
    • Operate on the assumption that every process (no matter how routine) can be improved, from filing to faxing to memo-writing, etc.
    • Get into the “What’s My Next Action?” mode on all the things which need to be done; Don’t “Freak out”/Freeze (use TaDa lists/To do Lists/Notes on Outlook)
    • Mise en Place – before completing a project, make sure you have all the pieces of information
    • “ What makes a river so restful to people is that it doesn’t have any doubt – it is sure where it is going, and it doesn’t want to go anywhere else.”
    • Hal Boyle
  • 20. # 9. Always Know Where to Get What ( Information, Forms, etc .)
    • Panagon, XTender, Moody’s, IDB Info Center, etc. – learn to use them effectively
    • Reference, websites (use bookmarks)
    • Google, Ask.com, Yahoo Finance, Financial Calculators;
    • Use Index Cards, Notes (in Outlook), Outlook folders, etc. to store important information
    • Keep Reference and Forms’ Files and E-Files
    • “ Blessed are the flexible for they will not be bent out of shape.”
    • Michael McGriffy
  • 22. # 10 Don’t be a Perfectionist
    • Let’s not try to be a Mark Twain or a Leo Tolstoy
    • Clarity, not perfection, is the most important factor
    • Use the “ KISS ” approach to memo-writing
    • Do “spellcheck”; don’t stress too much over grammar
    • If readers come across a slightly clumsy construction of a sentence - it’s not a big deal!
    • Focus on Big Picture : why the deal makes sense, does management have a lot of experience, what the major risks are, what we need to do to win the deal, etc.
    • “ The wisdom of life consists in the elimination of nonessentials.”
    • Lin Yutang
  • 24. #11 Try to Do and Think One Thing at a Time
    • Two (or more) commitments in your head are likely to create stress and possible failure
    • Juggling gets harder as more balls are being juggled
    • Important to train oneself to process & dispatch everything appropriately (see In-Box slide)
    • Prioritize your tasks! [A= urgent and important; B= either/or; C= neither/nor (routine task/”busy work” task)]
    • Be 100% available for the task at hand; then execution becomes clean, clear, precise. You are in control, “in the zone”!
    • “ Mise en Place” – learn from the chefs
    • “ A person with a watch knows what time it is. A person with two watches is never sure.”
    • Segal’s Law
  • 26. # 12 Manage Your Time Effectively!
    • Watch for phone conversations/small talk turning into fluff ; look for an elegant way to end them
    • Try to avoid unnecessary interruptions (some hints: close the door, redirect phone calls, make yourself less visible, etc.) [Also, think before interrupting others: their time is as valuable as yours.]
    • When scheduling outside calls, try to schedule other calls nearby as well
    • Be aware of your physical and mental peaks and troughs so that you know how long they last and when they start/end; plan accordingly.
    • Since your performance levels will fluctuate, the most demanding A-tasks (e.g. writing a memo) should be done while you’re at your peak; leave C-tasks (filing, in-box, Dashboard) for energy troughs
    • “ To think too long about doing a thing often becomes its undoing.”
    • Ralph Waldo Emerson
  • 28. #13 Create Attractive Physical Environment in Your Office
    • Make some instant changes; Be aware of: a) reading material stuffed into a file and forgotten, b) filing cabinets overflowing with irrelevant/old information, c) sticky notes and other pieces of paper all over the place, d) important contact names stuck on the side of a computer, etc.
    • Keep pencils, pens, clips in a single accessible container; know exactly where your tools are (stapler, adhesive tape, hole puncher, etc.)
    • Think of a desk as an “assembly line”; i/of raw materials, it’s information – make it flow
    • Review your filing systems and general décor every six months or so
    • Know where everything is!
    • “ A guest sees more in an hour than the host in a year .”
    • Russian proverb
  • 30. #14 Do the Weekly/Daily Review of Your Workflow
    • Start each week with a clean slate and clean desk; feel the energy of a new day/new beginning.
    • Clean up, update and maintain your systems; review your lists of open items on a daily basis.
    • Make the right choices, focus on priorities.
    • Capture, identify and manage your inventory of commitments.
    • Master your workflow! Don’t become its slave.
    • “ Simple, clear purpose and principles give rise to complex and intelligent behavior. Complex rules and regulations give rise to simple and stupid behavior.”
    • Dee Hock
  • 32. #15 Don’t Procrastinate!
    • Use the “ Just Do It ” approach; “Don’t put off until tomorrow what can be done today”
    • Take control of your time, not vice versa; Procrastination creates mental pile-ups and often leads to mental blocks
    • If it’s on your mind, it’s probably not getting done; Fact : Bright people procrastinate the most (reason: vivid imagination of things going haywire – it often freaks them out)
    • Avoid information overload (snowball effect)
    • Hint : If we master the other 14 Techniques, procrastination will become a non-issue
    • “ It does not take much strength to do things, but it requires a great deal of strength to decide what to do.”
    • Elbert Hubbard
  • 34. Summary: KEY IDEAS
    • Unclutter your work flow and space
    • Be your In-Box’s boss!
    • Develop good time management skills
    • Use “Mise en Place” for organizing the various processes of daily work
    • Focus on Important (both Urgent and not Urgent) items
    • Work Smart; Search for efficiencies in daily work/routine
    • “ Waste not (time), want not” still applies
  • 35. Appendix 1 : “ Mise en Place ” Exhibit to issue a Term Sheet
    • Obtain 3-year financials and latest interim statement
    • Obtain PFS of guarantors (if applicable)
    • Spread the numbers (Credit Dept.)
    • A/R agings and inventory listings
    • Order D&B and Expirian reports (Credit Dept.)
    • Prepare Deal Discussion (brief) and Term Sheet (draft)
    • Discuss with and obtain “green light” from higher-ups/credit
    • Final Product/”Dish” : Issue a Term Sheet
  • 36. Appendix 2 : “ Mise en Place ” Exhibit to Obtain Approval
    • Obtain signed TS with good faith deposit
    • Create a Face Sheet
    • Ask Credit Dept to do searches/liens and prepare Top Sheet, Back Sheet and Finsum
    • Get references/document it
    • Prepare a DC Memo
    • Fill out a Risk Rating form
    • Put together a Credit Package
    • Distribute it
    • Final Product : Obtain an Approval
  • 37. Appendix 3 : “ Mise en Place ” Exhibit to Book a Loan
    • Obtain the approval
    • Oversee a field exam
    • Prepare legal docs/Negotiate docs
    • Ensure searches have been done by attorneys
    • Legal docs to be reviewed by our Legal Dept
    • Fill out KYC Forms
    • Schedule a Closing with client and attorneys
    • Documents are signed at the Closing
    • UCC-1 forms to be prepared and filed
    • Obtain a Payoff Letter from the client’s old bank
    • Final Product :
    • Book a Loan (pay off the other bank)