Today’s business world seems to have what I call an intense action bias. This is the ever increasing need to take action. I am not sure if this is partly because of the current business school training or inherent to our culture. I liken the action bias to the investment bias. That is the need for people to find a place to put there money many times to their detriment.

The action bias is many times like the investment bias, meaning wrong. There are many instances where the action bias is incorrect; meaning the best thing to do is nothing.

I believe there is a form in narcissism in the action bias. The thought that I know what to do or I can fix it. While I applaud the spirit of trying, there are many instances where we can not impact the situation. Does taking action and trying harder cause better results in a grossly overbuilt real estate market, or does it waste precious resources in a traction less market. Accelerated action may simply accelerate losses when waiting is the thing to do. Should marketing dollars be spent to generate buyers who don’t want to pay the prices you want. Maybe inaction is a better strategy.

Yet, we are an impatient lot; we “need” to be doing something. Doing feels better than waiting, yet what’s done can rarely be undone, but what’s undone is still an option for the future. If the actions are not well thought out and backed by the appropriate set of facts and attached to the right strategy, you may as well not take it.

This is obviously a strategic question for people and their businesses. We are not talking about whether or not to pick up the phone when it rings or unlock the front door of the store at the start of the business day. We are discussing the big issues a business wrestles with like; launching a new product, implementing a new marketing campaign, terminating or starting new strategic relationships, going public or filing bankruptcy.

What does this discussion have to do with time management? Well, everything, because the action bias is a user of time and the opposite strategy of patience is a time saver. When you are taking action, you are using time. When you are waiting you have time, time that can be used for higher level thinking which needs to be done before taking action. Additionally in the heat of battle, thinking tends to shut down.

So think about the this issue the next time people are saying we need to do X. The appropriate response maybe, at some point that could be a good option, let’s wait and see.

By Les Taylor

Ever hear the adage “knowledge is power?” Well, I don’t agree. While I do believe knowledge can and should be a source of power, the reality is that only knowledge APPLIED is powerful. It’s not what you know that counts, it’s what you do with what you know that really matters.

You and I live in the Information Age. There’s more information around today than there has ever been on any topic you can imagine. Not only is information available, it’s at our fingertips via the internet. The Web contains information you can use for improving every aspect of your life. I don’t know about you, but I have yet to stump Google or Yahoo.

With all this information available to us, you’d think we’d have life figured out by now. Ah, but such is not the case. Why? Because we’ve come to believe that learning and collecting information are one and the same. The reality, however, is that we must take what we’ve learned and translate it into meaningful actions. As I’ve said, it’s not what you know, it’s what you DO with what you know that really matters.

Doris Lessing, a novelist and playwright of the last century, once said, “What matters most is what we learn from living.” Life is a great teacher, if we do something with what we learn.

If you’re familiar with my six-step process for improving performance and productivity, you know that the last of the six steps is ACTION, or what I refer to as STRATEGIC DECISIONS.

While taking action is critical to being a person of success and achievement, I’m not talking about just doing something for the sake of doing it. I’m talking about doing those things that matter most – and doing them first! Here are some thoughts on taking action you might find helpful:

1. Develop the habit of being action oriented. Don’t think about finishing the project or getting the degree, finish the project and get the degree.

2. Get creative in figuring out fun or interesting ways to take on an important project. Make a game out of it or offer yourself a nice reward when the project’s finished.

3. Make a habit of breaking down projects into tasks that can be completed in a relatively short period of time. Our attention spans aren’t very long – sad but true, so deal with it and break the task down into doable 15-20 minute segments.

4. Use worst case scenario thinking to stimulate action. You’ll end up there anyway if you don’t get the project finished or earn the degree.

5. Do the hard stuff first. Once you get that out of the sway, you’re on the downhill slide.

6. Use momentum to your advantage. Once you get going on a task, stick with it until it’s finished.

Remember, it’s not what you know that matters, it’s what you DO with what you know that really counts. Success and achievement are about DOING, not DREAMING.

Les Taylor is a professional speaker, author, consultant, and recognized expert in the field of personal improvement and professional development. Get several “free” performance improvement resources at http://www.gettingmorewithles.com also, read interesting and entertaining performance improvement articles at Les Taylor’s blog at http://www.gettingmorewithles.com.