This week has been half term in the UK. As is the way of things these days I have been dipping into my laptop all week, despite that is, being on holiday. It seems any week, these days, can turn into a workweek. With no meetings, it was great for getting stuff done, albeit not so great for an actual rest!

Modern problems

This is a very modern problem and is of course greatly enabled by our new way of working. We are always on, always connected, and always available.

Not so long ago, with patchy mobile/cell phone connections, getting away and being out of range was quite plausible, if not frequently possible. Not so these days. Technology is tremendous these days coming on leaps and bounds even in the last few years. There are really not many places left, without signal coverage, on the coverage map.

Extra productive

Despite my lack of time off (or on the beach), it was actually incredibly productive. A week with no meetings booked, not being instantly available on messenger, really provided an opportunity to catch up with thinking and just get organized. Having a smaller to-do list certainly reduced stress and made way for some strategic thinking, which is after all a lot of fun.

Thinking differently

Of course, using up holidays to get stuff done, is by no means ideal nor sustainable, especially when we go back to commuting and the office. We may get away with it a bit of extra work on a staycation, but on a foreign holiday, it will go down like a lead balloon, certainly in my house.

However, maybe this is an opportunity to think differently about our time. Schedule weeks with no meetings, reading weeks maybe, could actually be a great way to get stuff done, catch up on ideas, thinking and getting refreshed without burning holidays.

With the frenetic pace we seem to be living at these days it could be a good way to force ourselves to slow down a bit and catch a breath.

A hard start

Travelling for work has also always been a good source of ideas and a trip this week it gave me a bit of time to finish an audiobook. It prompted me to also think about my routine, and in particular how to break goals down into small steps and doing a little each, and every, day.

In our industry we have lots of great ideas, a drive to transform customer journeys, digitise our processes, create fantastic customer experiences… however how many times have we also seen these great intentions stall, get blocked, or just frankly run out of steam?

Sometimes the hill just seems too steep, the change too massive, or funding too large… and then there are also the naysayers, quick to say it can never be done, not to waste your time, and offer an opinion, even it is not their project.

If you listen to hard, it is easy to get disheartened, and never let an idea have enough space to get going… and, after a long week, being busy with lots of to-do’s, slumping on the sofa, watching the latest series is far easier (squid game – another example of Asian cool btw). Starting is hard, giving up is easy.

1000 steps

Once started, every journey is always just a set of steps, and taking each step at a time, and keeping going, will get you there… eventually.

This is true for change at work too. Starting with one small change, moving on to the next, then the next… keep going… link them together and the journey has started… you are on your way. All you need is that first step and the routine to keep moving forward.

Over time this can be a powerful way to generate real change and the beauty of the strategy… if each of the steps is small enough, they can be low cost, easy enough to tick off and keep under the radar long enough, and sidesteps any critical viewpoints, with actual proof it is already working.

So could it be, in a world where flashy projects, big-ticket investments and smart-talking always get lots of attention, the small, steady, consistent, ideas are actually worth taking a second look at? It can be where some of the most powerful change can come from, especially if linked together to a longer-term vision.

Time to relook at that small change investment budget differently maybe? … or maybe take more ‘time off’!

Next week is the Credit Connect, Credit and Collections Technology Think Tank, so will hear more great ideas I have no doubt… will report back next week.

Have a good week everyone.

This week marked my first trip, on a train, into central London in what will be nearly 20 months. Old habits are clearly hard to break, and of course, I ended up in Pret-A-Manger munching on a toasted sandwich with a coffee, watching the world go by… it was good to be back… like old times…

Or was it? In some other ways, the experience was unsettling.

• The first train was quiet – I got a seat!
• The tube seemed busy – although I was able to get on the first train, so in fact by comparison to ‘normal’ – in fact very quiet!
• And, at 8am there was hardly any traffic on the street – surreal, just like a movie set.

Less people, less hassle, less stress – it all seemed more civilized – but it also did just not feel right, something felt off.

In going back and starting a routine, one I was so familiar with before the lockdown, I think it was because I kept stumbling on small, subtle differences, that said… “everything may appear normal, just as before… but something has happened, underneath things have changed”.

Now before I could go full sci-fi, I was told that Monday and Fridays, have become ‘working at home’ days now, so these can be quiet – it was enough to reassure me that I was not in fact returning from a 2 year ‘blip’, everything was normal, and I could leave the action man (eagle eyes) costume at home for now – phew… (let’s face it, it would not fit anyway after lockdown anyway).

But it did really reinforce just how big an event the pandemic has been for society and one we are only still right at the start of working through any recovery.

After the Black Swan

It is said that history doesn’t move slowly and smoothly, but jumps with a few vibrations in between [Black Swan]. This certainly felt to be the case recently and dystopically… two related stories also seemed to dominate my discussions, this week too.

• The economy and inflation. Concerns over inflation have been brushed off as transitory over much of the summer. Nothing to worry about, will all be back to normal parameters soon many said. However the mood over the last couple of weeks seems to be changing, with supply chain issues, staffing shortages, prices are going up and it is not back on the agenda. Macro economics need to be watched very carefully at the moment it seems.
• The energy market. With another 3 suppliers ceasing trading last week alone, the outlook is not looking good. Over the week Russia has also decided to not increase supply and there is stress in the gas hedging market too. Even large suppliers are now under pressure from the price cap, and the prediction is for another 20 suppliers to cease trading next month. This story has more to run and one to follow.

With all this cheery outlook, I am going back under the duvet, avoiding the news (and sci-fi films) this weekend. It will seem better next week and the coffee with pain-au-raisin will help too.

Have a good weekend everyone.

Time is becoming a problem again, it seems. Not really time itself, more the lack of it.

And, it was not just me noticing this, this week other people were reporting the same observation too. Things are getting busy.

It is all too familiar. You have a list of things that you need to do and all progresses well at the start of the week. But, by Friday (and earlier sometimes), you suddenly realize that not everything is going to be done, you are running out of runway on the week and some of the list is going to have to get carried forward to the following week. It is frustrating.

The same dynamics seem to happen just before a vacation too. The mad rush to get everything done, to have a week off, followed by a mad rush to get caught up again when you get back…. it can be all very stressful, sometimes feeling you need a holiday just to recover from taking a holiday.

All cake no filling

Of course in the world of business, it is money, rather than holiday, that is a key driver. Getting stuff done helps generate revenue and controlling spend reduces cost, all to maximize profit. The bigger the difference the better goes the thinking.

This approach is dominant in everyday decisions and no where more so than in areas for investment. “Can I get a good price?”; “Is there a cheaper supplier I can use?”; “Can we shave features off to save money”… all without noticing any impact on quality of course!

Vendors, often do their best and try to react, often offering lowering prices to get the work. It can cut into margins, forcing them to then drive economies themselves; reducing work detail, time dedicated to a project or spending less on finishing touches. It can sometimes be a false economy.

We all seem to know of projects/implementations that have gone live without reporting, controls, or features, that with hindsight would have added value… we often get just enough, no more. Sometimes it feels all we get to eat is the cake, without the icing (or the filling for that matter).

Time is money or is money, time?

But is money for investment really the limiting factor here? Money can after all be printed, borrowed or diverted from other projects to deliver the funds you need. Money however is a common currency, one we can use to trade time and resources and get stuff done.

Time is a different matter. More time cannot be created. We can borrow time, by getting others to help, but their time is limited too. It is fixed, there are only so many hours in the day, days in the year, and years in a lifetime.

Thinking about projects differently

So may be we have everything back to front. Time, rather than money, is the fundamental resource, limiting factor and universal currency instead. Time is what we really have to manage closely to get stuff done.

So bringing all this back to the problem of the week, the mad Friday dash to get things done…

Could it be we need to think differently about our week, not thinking just in terms of financial efficiency, but focusing on time instead. Using the same rigor and zeal we have for financial control, but this time on time. (Is time accounting a thing? maybe it could be!)

As a fundamental driver of value, getting the timing right will mean more projects on deadline, faster delivery, better features and likely more money too… not to mention getting everything done by Friday! One to think about this week.

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Other stories this week

• Two more energy companies go bust – continued pressure in the energy sector
• Consumer spending grew 13.3% in September – consumer spending is rising again as we return to more normal dynamics
• Bitcoin could trigger financial meltdown, warns Bank of England deputy – Bitcoin reached new highs this week, despite mining restrictions in China, due to ETF launch in US. I had an interesting demo of a FX/treasury settlement system… will we settle FX via Bitcoin/Crypto rather than USD… certainly possible in the future
• Consumer car finance market fell by 10% in August – there are only so many cars you can buy I suppose and plenty were bought during lockdown. Will be interesting to see the data on electric car sales the last few weeks mind you.
• Over half of credit providers planning to implement Open Banking this year – Seems to be a rising trend of discussion.

Have a good week everyone