Finance Coach - Vol. 16

Finance tip: Electricity

Save energy when cooking. One of the first ways to reduce your electricity usage, and thus your energy bill, is to plan one day in advance what you want to make for dinner. Make your decision, take the food out of the freezer, and put it in the fridge – it will defrost there, and take less time and energy to cook the next day. Another energy-saver is to use your microwave for defrosting – a microwave only uses about half as much energy as a conventional stove. With stoves, resist the urge to open the door and peek – every time you do this, about 20% of the heat inside is lost. Another handy trick is to make sure to keep your stove-top clean – if it isn’t, dirt on the surface will absorb heat instead of reflecting it back to the cookware, resulting in you needing more time (and energy) to make sure your food is prepared the way you want it.

Business tip: Communication

Be positive in public, and negative in private. When one of your staff or colleagues has done something good – such as completed a project successfully, or brought in a new client – make sure to congratulate and laud them in front of others. This positively reinforces the good behaviour, and acts as a signal to others who see it that good work is recognized and rewarded. On the other hand, when one of them has failed or underperformed on a task, resist the urge to come down on them in public. Rather take them to one side and have a quiet word with them – ask them for their side of it, and find a lesson in the failure. They will respect you for handling it this way; and cutting them down to size in public can instill a sense of fear of failure amongst others, which can stunt creativity and innovation within your business.