How I Work (Productivity)

This is the second in a series of posts about how I do my day job. You can find the first post here: How I Work (Tools)

At this point, I feel like I’ve tried every available productivity tool and method. I still experiment when I see something new, but I’ve finally refined my process for getting stuff done on a day-to-day basis. There are several pieces, but each is generally simple on its own. Actually, the whole process is simple. Otherwise I wouldn’t follow it.

Project-Based Planning

Today, my go-to for planning projects is the iOS/macOS Reminders app. It doesn’t have a lot of features, but it syncs across my devices and prompts me with annoying notifications when I’m behind on deadlines. I’ve tried things like Todoist, and spent weeks trying to get OmniFocus integrated into my workflow, but I didn’t have the patience to either adjust how I worked to meet the limitations of the software or spend weeks customizing it. Ad hoc projects also land on my plate on a regular basis. I needed something easy and fluid to adapt to that. Lastly, I’m not going to pay for complexity when simplicity is free.

In Reminders, each project I’m working on gets its own list of deliverables, and each deliverable has a priority and due date. If it’s a publishing or presentation project, I also create a notebook in Evernote to store web clippings, notes, PDFs, etc. When a project is completed, the Reminders list is deleted and the Evernote notebook goes into an archived notebook stack. Why don’t I use Evernote’s reminders instead? Because they’re impossible to find across devices. (For such critical component in the way I work, Evernote is a disappointing piece of software.)

The Reminders app is really a staging area for everything that I have to get done, but it can be overwhelming to see everything at once. That’s when I use a simplified bullet journal.

Bullet Journal for Daily Processing

Each morning follows roughly the same pattern. I look through the list projects and see what’s languishing and add the next project-specific deliverable in the list to a notebook  – with actual paper and pen. I might add 3-4 work-related things and 1-2 things around the house I need to get done (clean the litter boxes? yay!). I don’t add more because 1) I know I likely won’t get that far and 2) something else is always waiting in my inbox.

While there are certainly examples of elaborate bullet journals, mine is a simple list of the day’s tasks with boxes to the left. Completed tasks get an ‘x.’ Things that I didn’t complete get an arrow indicating a carry-over to the next day. Sometimes things don’t go my way and I end up carrying things over for days at a time.

Aggressive Time-Boxing for Individual Tasks

This last part is the most recent addition to my productivity process. I received an Esington pomodoro timer as a gift, which forced me to learn about the Pomodoro Technique. Pomodoro is a simplified time management method in which you work for 25 minutes at a time, then take a short break. That’s it. With the 25-minute timer in front of me, it’s easier to avoid distractions and focus on the task at hand. Add some noise canceling headphones, and I’m set.

Why This Works for Me

With hundreds of productivity methods and best practices out there, I find this simple method works for me because:

It’s not overly digital. Notifications flashing on my phone and other screens don’t create a sense of urgency for me. The digital parts are just there to store tasks  until I add them to the treeware notebook. Writing things down and crossing them off gives a sense of satisfaction that checking off a digital box doesn’t. And the physical act of flipping over a 25-minute timer helps me focus in a way that a timer on my phone doesn’t.

It’s simple. Many productivity methods, like GTD IMO, focus on the method instead of the result. Often, they’re so intricate and rigid that they fail to reflect the messy reality of most peoples’ work lives. My cobbled together method may not look pretty or win any awards, but it doesn’t have to. It only has to help me get stuff done.

Does this sound like your productivity method? Did you get OmniFocus to work for you? (If you did, I’d like to know how.) Let me know in the comments.

How ICOs are Regulated

My previous post on ICOs and venture capital led to a question about how ICOs are currently regulated. I spent some time last weekend looking at the regulatory environment for ICOs. While I was bewildered by much of what I read, I managed to learn two things:

  • Existing cryptocurrency regulations are primarly concerned with AML/KYC, not consumer protections.
  • Regulating ICOs as securities is still nascent, with varying approaches by jurisdiction.

The Current Regulatory Environment

In most jurisdictions, cryptocurrency exchanges have to comply with existing anti-money laundering (AML) and know your customer (KYC) regulations. ICOs, as cryptocurrencies, fall under these existing regulations. Implementing these requirements can be difficult. Since tokens are transferred using generated addresses, identifying the parties in a transaction can be difficult. Other networks, like Zcash, support fully anonymous transactions, potentially obviating things like KYC.

Entities conducting an ICO may also face regulations from multiple jurisdictions that classify ICOs and cryptocurrencies in different ways. Cross-border tax implications have yet to be reconciled.

Future Regulatory Directions

In the U.S., the SEC issued an investor bulletin for ICOs. The bulletin didn’t offer any proactive advice on ICO regulations. Instead, the bulletin simply advised investors that, depending on the circumstances of a given ICO, the tokens may or may not be securities. As I understood it, tokens that return capital gains or profits back to the token holder are more likely to be considered securities.

ICOs issuing tokens that are deemed securities will face more scrutiny and overhead. Sales must be registered, as will secondary markets that trade in tokens. Local laws will also apply, which can vary in each state.

At least in the U.S., this should be seen as promising. Regulators effectively went with what they knew: securities. They didn’t overreach in their guidance to investors or ICO issuers, but they also left a number of areas yet to be defined. At least in the U.S., I believe these open regulatory areas will eventually be covered. Other jurisdictions are also actively outlining how ICOs will coexist in their markets, but this will take time.

Sources

  1. Investor Bulletin: Initial Coin Offerings
  2. Understanding Initial Coin Offerings: Technology, Benefits, Risks, and Regulations

Linking Mindfulness with Cognitive Performance

Mindfulness has been a hot topic lately. Even the Harvard Business Review recently published on the topic. I’ve also been thinking about mindfulness and how it might relate to cognitive and athletic performance. The most current research I’ve found explores the link between mindfulness and cognitive performance and attempts to build on previous research work. I’ve attempted to summarize the journal article below.

What is mindfulness?

There are varying definitions, but arguably the most common is “awareness, cultivated by paying attention in a sustained and particular way: on purpose, in the present moment and nonjudgementally.” (Kabat-Zinn). Mindfulness is a state of awareness, but is also viewed as a skill that can be improved. Using the Five Factor Mindfulness Questionnaire (FFMQ), mindfulness is an aggregate of five factors: observing, nonjudging of experience, describing, acting with awareness, and nonreactivity to inner experiences:

  • Observing: aware of and recognizing thoughts and feelings
  • Nonjudging of experience: objectively considering thoughts and feelings without assigning value
  • Describing: recognizing and labeling the thoughts and feelings an individual experiences
  • Acting with Awareness: staying present and aware in the moment; disregarding distractions
  • Nonreactivity to inner experiences: ability to remain calm and objective when facing thoughts or feelings that may prompt an emotional response

How does mindfulness relate to improved cognitive performance?

Despite the belief that mindfulness impacts cognitive performance, few studies sought to determine the relationship. Earlier mindfulness studies that attempted to link mindfulness to cognitive performance were specific to intensive mindfulness training in the context of mediation, but links either weren’t found, or no significant difference was discovered between test and control groups.

By contrast, the Klein and Lancaster study explored dispositional, or inherent, mindfulness, rather than the effectiveness of mindfulness training. Specifically, the study researched if:

  • higher observational characteristics would predict improved perceptual ability
  • higher nonreactivity scores will relate to improved cognitive flexibility
  • actiing with awareness and describing facets would not impact cognitive capabilities

Unfortunately the study was unable to reproduce the mindfulness work of previous studies. The study also found that nonreactivity, not observability, was a better determinant of perceptual abilities. Further, none of the five facets of mindfulness was associated with cognitive flexibility. While additional research should be performed, the connection between mindfulness and cognitive performance and enhancement looks tenuous at best.

Raising Capital: ICOs or VCs?

So far in 2017, there have been 92 initial coin offerings (ICOs) that have raised over $1.2 billion. That surpasses the amount raised by startups from angel and early seed rounds. This hype has me thinking about how startups may fund themselves in the future, and what role VCs might play, if any. I don’t pretend to be an expert in either space, just interested in both.

ICOs aren’t a transfer of equity or ownership

Unlike VC funding, ICOs do not transfer company ownership from the issuing organization to the buyer. ICOs issue tokens (“appcoins”) that you can use within a project’s ecosystem, usually in the form access to some product or service that either exists or will exist at some point in the future. If the service is desirable and demand goes up, the value of the appcoin goes up due to presumably limited supply.

Holding an appcoin doesn’t allow you to influence the company or drive product direction. That’s one likely reason why startups are taking the ICO route over angel or early seed investors: why give up equity – and control – if you don’t have to?

Appcoins can be considered an asset, even if they’re completely unregulated. It’s not unreasonable that VCs will start buying and holding appcoins, hoping for appreciation. Appcoins are also more liquid than startup investments, which take several years to pay off (if they ever do). What happens if VCs start making more money from appcoin trading than from traditional venture investments? Will LPs just take their money to dedicated appcoin firms? I don’t know the answers to these questions, but the eventual answers will be interesting.

In the short term, the ICO hype will continue as an unregulated, poorly vetted source of crowdfunding. Hearing how some ICO’s are pitched by eager supporters, it feels like today’s ICOs are a shared speculative fiction largely driven by greed, without accountability for the issuer. Over the long term, my guess is ICOs will become regulated or outlawed by entities like the SEC. If regulated, launching an ICO will likely carry as much overhead as an IPO, and VCs are back in business. The People’s Bank of China (PBOC) has already banned ICOs. Additional regulatory agencies will likely follow suit.

Everyone seems to have thoughts about ICOs and what they’ll mean for the financial industry and the broader population. Let me know what you think in the comments.