What is...

[Fritha]

... Miranda's busy fools theory? I've seen it mentioned a few times but I don't know what it is!

[babybiz]

... Miranda's busy fools theory? I've seen it mentioned a few times but I don't know what it is!

lol me ;) ;) :tcwozerek

[funkydorydawn]

It's basically doing lots of work with very little profit to show for it.................I think :cheesy:

[lajlaj]

It's basically doing lots of work with very little profit to show for it.................I think :cheesy:

Yes that is exactly what it is. Not working effectively basically.

[MrTempleDene]

I've only ever heard the term on here, and a google search only shows MZ threads using it?

[stour]

My two favourite Miranda-isms are the busy fools one and the rule of thumb about net profit to turnover that I still measure my business to today.

Yay miranda :)

The busy fools one has been really useful to make me stop and look at what I'm doing and work out whether I'm taking work just to make us feel good or massage my ego or whether it's actually giving us something.

[goldndelicious]

i was involved in a mse thread where one lady had an ebay business and worked on average a 40 hour week. When it came to completing her tax return, it was only then that she realised she had only made 800 pounds for a whole years work, and that was operating as normal without any one off set up type costs!

thats about 40p per hour

i try to measure my profit divided by hours spent to give me an hourly wage, then you can work out if you would be better off stacking shelves in tesco or not

[funkydorydawn]

I've only ever heard the term on here, and a google search only shows MZ threads using it?

Funnily enough, my accountant used the term during our meeting last week :cheesy:.

[MrTempleDene]

certainly the term "busy fools" is all over google, but only associated with miranda on MZ

I haven't dug very deep though, where does the term come from?

[babybiz]

Yes that is exactly what it is. Not working effectively basically.

Ah but they are two different things - working effectively doesn't neccessarily connect to profit though. Usually yes but not always.

[friendlybaby]

certainly the term "busy fools" is all over google, but only associated with miranda on MZ

I haven't dug very deep though, where does the term come from?

Miranda always says it is something that her old boss used to say. I guess it is a common phrase in some circles, but not generally used out of a business context.

[lajlaj]

Ah but they are two different things - working effectively doesn't neccessarily connect to profit though. Usually yes but not always.

Absolutely .... for a while!! One of the essential elements of building a business in the beginning is to be a busy fool (if you are putting it into that context but that isn't necessarily the context I would use this term for) but at some point there has to be a tipping point.

[babybiz]

Absolutely .... for a while!! One of the essential elements of building a business in the beginning is to be a busy fool (if you are putting it into that context but that isn't necessarily the context I would use this term for) but at some point there has to be a tipping point.

Absolutely, the fool is the person who does not understand where they are going and how they are going to get there. You need to be determined but smart and aware enough to change and adapt when things are not going in the right direction. The hardest thing I think is realising when you are doing it right when everything would indicate otherwise and to have faith in yourself. People jump ship too easily or hang onto something for too long both of which are disasterous. How's that for deep :cheesy:

Profit is easy to get, mainting and growing that profit is the real challenge.

[Miranda]

Just typed a huge reply and my login timed out and lost it! Grr

Yes was my old boss's sayings. he used 'Busy fools...' in a more sarcastic way, say someone was spending hours quoting on a customer who wanted too much discount, or if we lost a customer to another firm at a ridiculous price.

The other one was 'Turnover is vanity, profit is sanity'
He was an accountant!

[Seren]

Just typed a huge reply and my login timed out and lost it! Grr

Yes was my old boss's sayings. he used 'Busy fools...' in a more sarcastic way, say someone was spending hours quoting on a customer who wanted too much discount, or if we lost a customer to another firm at a ridiculous price.

The other one was 'Turnover is vanity, profit is sanity'
He was an accountant!

I've heard the turnover one when I worked for a supermarket and an IT company. One of my favs was PPPP Preparation Prevents poor performance !:hysterica

[Miranda]

I've heard the turnover one when I worked for a supermarket and an IT company. One of my favs was PPPP Preparation Prevents poor performance !:hysterica

That was another one of his sayings! Think he quoted them all.

However his funniest story (this was about 12-13 years ago, so long before current hype) was when his fiancee persuded him to go to the doctors as his snoring was keeping her awake. Now bear in mind he did the corporate thing, drank a lot, ate a lot, smoked a lot, got divorced, and basically lead a v ery stressful life always chasing targets. He looked 10 years older than me and I was 8 years older than he was!

He was referred to a specialist, a Chinese doctor, lets call him Mr Wong and imagine the accent. Settled on the couch being prodded with the stethoscope the conversation went thus:
Mr Wong: Tell me Mr S, do you have a pension?
Mr S: (smugly thinking 'I'm an accountant, of course I have my finances in control') Yes I've got a fantastic company pension and I contribute lots privately so I'm well set up for retirement.
Mr Wong (said with sucking in of teeth): Well, Mr S, if I were you I wouldn't bother paying into your pension.
Mr S (thinking 'what the heck does he know about pensions, he's a Doctor FFS - or does he know some better investment I don't know about?): What do you mean?
Mr Wong: Well Mr S, if you don't change your lifestyle now you won't be drawing that pension and it'll be a complete waste of your money. You are very overweight, your liver function is extremely poor due to your drinking, and your chest is suffering immensely from your smoking.

Exit one very shocked Mr S, a hit in the wallet works best for an accountant!
:hysterica:hysterica:hysterica:D:D:D:hysterica :hysterica :hysterica

Mr Wong certainly knew the best way to approch the topic! Mr S cut down the booze and the fags, the coffee and actually lost some weight!