First African American billionaire Bob Johnson shares wealth of wisdom. (Image: Courtesy of Subject)

This week on The Urban Business Roundtable, UBR Contributor Renita D. Young talks with master wealth builder Robert L. Johnson, founder of The RLJ Companies and America’s first Black billionaire. Johnson made business history when he took BET public in 1991, making it the first  Black-owned company traded on the New York Stock Exchange, 11 years after he founded the cable network in 1980. This would be far from the last of “firsts” Johnson would achieve on his way to being named No. 2 on Black Enterprise‘s list of Titans: The 40 Most Powerful African Americans in Business in the 40th anniversary issue of the magazine.

In 2000, after taking the BET private again, he sold the cable network to Viacom for $3.2 billion to become the first African American billionaire. He acquired the Charlotte Bobcats in 2003, creating the first Black-owned NBA franchise. Johnson sold the Bobcats to NBA legend Michael Jordan in 2010, but continues to hold a minority stake in the team. Johnson has also launched a plethora of other ventures under the RLJ banner, including RLJ Development, L.L.C., ranked No. 6 on the Black Enterprise 100s list of the nation’s largest Black-owned industrial/service companies with 2010 revenues of more than $578 million. In addition, Johnson is widely considered to be the No. 1 Black hotel owner in America, with hotels from the United States to Liberia.

In addition to joining Young at the Roundtable, Johnson will also be sharing his wealth building philosophy this Saturday, September 17, 2011, as the keynote speaker for the 18th Annual WVON1690 Financial Seminars at Malcolm X College in Chicago. You’ll also get the chance to meet me at the seminars; I’ll be there for an exclusive conversation with Ariel Investments CEO and legendary investment expert John Rogers. In fact, in my “Alfred’s Notepad” segment, I make the case for why entrepreneurs need to make their ongoing financial literacy a top priority, because there is a strong correlation between the effective management of personal finances and the smart investment of business resources. To register or learn more about the full agenda of free financial seminars, go to WVON.com or call 773-247-6200.

Productivity expert Peggy Duncan (Image: Courtesy of Subject)

Also, UBR Contributor Teria Seah sits down with award-winning productivity expert, author, speaker and trainer Peggy Duncan, founder of the Digital Breakthroughs Institute, about the importance of effective time management for business owners. Duncan has authored several books, including The Time Management Memory Jogger: Create Time for the Life You Want (Goal/QPC).

And finally, every week on UBR, you’ll get motivation and inspiration from author and entrepreneurial icon Farrah Gray, a weekly wrap-up of business news from USA Today business correspondent Charisse Jones, our Patient Investor Report from Ariel Investments and key economic intelligence for small business owners from our UBR economists Derrick Collins and Rasheed Carter.

If you have a question you want answered or a topic you want addressed on The Urban Business Roundtable, connect with me at BE Insider, the social media network for people who are serious about Black Enterprise. You can also find me on Twitter and Facebook.

Alfred Edmond Jr. is the senior VP/editor-at-large of Black Enterprise and the host of the Urban Business Roundtable, a weekly radio show, sponsored by Ariel Investments, airing CST Wednesdays at 8:30 a.m., Thursdays at 6:30 p.m. and Saturdays at 9:30 a.m. on WVON-AM 1690, the Talk of Chicago. You can also listen live online at WVON.com. Check back each week for UBR Spotlight, which features additional resources, advice and information from and about the topics, entrepreneurs and experts featured on the show.

Time management and productivity expert Peggy Duncan.

Tanvier Lee says she moved from Washington, D.C., to New York City in early 2008 with high hopes. Leaving behind her job as a financial adviser, Lee looked to start an interior design company. It wasn’t long before she found herself overwhelmed.

Admittedly, she says New York City can be overwhelming by itself, but coupled with the added responsibilities in starting a new venture, the then-23-year-old Lee was quickly juggling more than she was used to. In order to pay her bills, Lee worked full-time as a kitchen and bath designer. Simultaneously, she functioned as an entrepreneur: Trying to bid on design contracts, market her services on several online job boards, and attend industry events.
“I was just too bogged down with working a nine-to-six and heading into the city to meet with prospective clients,” says Lee, who also volunteered weekly at the Junior League of New York City (www.nyjl.org). “It was a lot.” And although she felt drained, Lee says she pushed herself because she felt she needed to keep it all together—a common rationale. We often feel there aren’t enough hours in the day to accomplish tasks of work, home, and extracurricular.

However, Peggy Duncan, a time management and productivity expert and author of the book, The Time Management Memory Jogger (GOAL/QPC Inc; $12.95), says this unwillingness to stop may be one of the biggest reasons why we struggle.

“You have to stop long enough to figure out the best way to do things,” says Duncan. “Look at what’s on your plate and prioritize. Be selfish right now and focus on yourself. If you don’t, you won’t be a good parent, boss, or employee. If you feel like you’re getting overwhelmed, something has to go.”

After months of living out a frenzied schedule, Lee quit her full-time job, giving full attention to launching her design firm and creating a balanced, less besieged life.

Miss Manage
Time management and productivity expert Peggy Duncan helps clients get on track to effectively manage their responsibilities and lives. Here she offers these three helpful tips:

Get organized. If your eyes always see a mess, your mind becomes a mess. Get organized so you can think better. Even if it takes you two or three weekends, take the time to put your workspace in order. That goes for your time and calendar as well. Keep a time log so you can figure out how you’re spending your time.

Focus yourself and your efforts. Multitasking doesn’t work, so prioritize. What activities can you eliminate? What things can you put on hold while you sort yourself out? When you’re doing work that requires you to think, you can’t afford to multitask. Ignore the phone. Hide yourself until it’s done.

Barter when possible. You’ll either spend your time or your dime to get certain things done. When there is work you must do that requires expertise you don’t have, consider bartering a service you can perform in exchange for the expertise you need.

This article originally appeared in the February 2010 issue of Black Enterprise magazine.

Duncan

BlackEnterprise.com: As people move into the new year, what are some ways they can make 2009 more productive—both at work and in their home life?

Peggy Duncan: People waste hours a day always looking for something. At home, one of the best things you can do is organize your closet. Go through everything. If you didn’t wear it last year and don’t love it, donate it. If you love it, save it one more year, but if you don’t wear it in 2009, don’t let it see 2010. Put like items together in your closet and sort by color (e.g., suits, light to dark). You’ll start each day with less chaos and stress.

At home and work, prepare for the next day the day or night before.

At work, clear the mess off your desk and create a logical system for paperwork, much like your closet, by putting like subjects together. Then create that same logical system for your computer files. Go through every project you’re doing and develop smarter ways to get them done. Use the right technology to speed everything up.

You have a background in technology. What are some ways people can better use technology to help in their productivity?

[Many] aren’t aware of features in the software they use every day that’s been there for years. Very few take classes, and still use the computer like it’s a typewriter. They don’t click the buttons, nor do they wonder what the buttons do. They spend hours doing something [themselves] that the technology they already have can do in minutes, seconds, or nanoseconds. You can record a quick macro (a series of commands you can capture and run anytime you need to perform the task) that will handle mundane work with the click of a button. A formula in Microsoft Excel takes work you do by hand and figures it out before you can blink.

You can link the information in a spreadsheet with a graph in PowerPoint that gets updated every time Excel changes. You can manage your entire life in Microsoft Outlook: drag from the inbox to the calendar or tasks, save multiple signatures to quickly insert information you send often, view multiple calendars in the background to let you know when everyone can meet, and so much more.

What do you tell someone who is so used to disorganization that it is difficult for them to get into a more streamlined and organized way of living?

They have to want it. A lot of times they’re working like that because no one has ever shown them a different way. They don’t even realize there is a better way.

What is the best way people can learn to balance both what they feel is a necessity and what they feel is needed but is not a top priority – ie., maximizing work time versus making moves to stay healthy (visiting the gym or taking time out for a doctor’s visit)?

You have to have a vision for your life. In your wildest wishes, what would you like to see yourself doing or being? You’ll set short- and long-term goals to attain that vision. Your objectives outline what you need to reach your goals. And you have to put an action plan in place to reach the objectives. At this point, you’ll understand how you should spend your time based on your vision and your values. If you learn how to work smarter, you’ll have time to do everything you want–within reason.

What are some elements to stay away from when trying to become more productive?

Turn off the TV and get off the telephone. Spend your time doing things that will help you reach the goals you’ve set for yourself.

With so many companies cutting budgets, how can managers and top executives increase productivity while not at the expense of their workers?

There is so much wastage. People are spending too much time doing busy work and putting out fires instead of having time to focus on work that adds value. If you organize everything so you can think more clearly, you’ll plan and prioritize better. If you streamline all of your processes and procedures, you’ll make better decisions. If you incorporate technology the right way and with more training, you’ll finish everything quicker and with fewer errors.

To get a head start on organizing your life, use our checklists:

Home Maintenance Checklist

Home Insurance Checklist

Financial Fitness Checklist

Health & Wellness Checklist

Use the BlackEnterprise.com Health and Wellness Checklist to develop healthy eating habits and transform wellness from a phase into a complete lifestyle. (Download here)

____Schedule check-ups regularly. Routine health exams are a good preventative measure that can usually catch small problems before they become life threatening. Women should schedule breast exams and pap smears which can greatly reduce their risk of cancer. Men should get colorectal screenings to reduce their risk of cancer, according to Web MD.

___Turn a healthy diet into a lifestyle. A healthy diet can boost energy and morale. You shouldn’t moderate your eating just for the short term. Healthy eating is a lifestyle change. Google makes it easy with a nutrition monitor for you computer’s desktop. Just put in information about weight, height, and age and the icon tells you the appropriate daily intake according to United States Department of Agriculture (USDA) guidelines. The USDA also provides tools to help monitor your eating. If a weight-loss plan is on the schedule for the New Year, set a realistic goal and choose a healthy, doctor-approved plan.

___Develop a workout plan. Schedule your walks, trips to the gym, or a run on your weekly calendar like every other appointment and commitment. But if you still can’t find the time to add cardio to your schedule, try adjusting daily routines. If you take public transportation, get off a stop or two early and walk the rest of the way. If you’re running errands, park near the back of the parking lot. Try purchasing a pedometer and wear it to work. Health and wellness organization Kaiser Permanente advises people to make it a goal to take 10,000 steps a day,

____ Get adequate rest. Lack of sleep doesn’t just make you cranky– it can also reduce your ability to concentrate and excel. While the amount of sleep each person needs varies, RNCentral.com recommends most people need 7-9 hours to feel fully rested. While this may not be possible every night, try to sleep a full night whenever you get the chance.

____Keep healthy snacks around. Stock your pantry with fruits and other healthy snacks. You’ll be more likely to reach for these than junk food if you keep them in your home and at your work space. Reduce your intake of sugary delights which can help cut down your sugar consumption. But a little treat now and then is a great way to reward yourself for eating a healthy diet, according to RNCentral.com, a resource center for nurses.

____Keep hydrated. Drinking enough water can help boost your concentration as well as keep you from overeating. The Institute of Medicine advises that men consume roughly three liters (about 13 cups) of total beverages a day and women consume 2.2 liters (about nine cups) of total beverages a day. Lack of water can lead to dehydration, says the Mayo Clinic. Even mild dehydration can drain your energy and make you tired.

_____Don’t work in bed. Toiling away in your place of rest can make getting to sleep harder. Keep your work space separate from your sleep space to keep insomnia at bay, according to RNCentral.

____Give yourself a break. If you’ve been working steadily for hours, give your eyes and mind a chance for a rest by taking a break. You can come back feeling more refreshed and ready to go. Put limits on work hours. Fun and relaxation have to be part of your routine as well.

____Just say no. You can’t please everyone. Concentrate on making yourself happy first and you’ll eliminate lots of stress and hassle from your life. If you’re overcommitted and under a lot of stress, there’s a greater chance of you becoming sick and tired. Saying no can free you up for more quality time with friends and family and allow you time to pursue other hobbies or interests, says the Mayo Clinic.

____Get organized. Clean up your environment. Whether you’re at home or at work, a clutter free environment will help you feel more peaceful, therefore keeping the stress away, says Duncan.

View a printable checklist to keep track of your progress here.