Week of July 24, 2017
“This thing of being a hero, the main thing to it, is to know when to die.”
American Humorist and Speaker
“A hero is somebody who voluntarily walks into the unknown.”
Actor, Director, Producer
The Hero Craving
Have you ever noticed that there are no weekly TV drama series about loss prevention specialists? There’s a good reason for this, as FT Columnist and venture capitalist John McKay reminds us in a one page article that deserves to be read by every CEO and his or her management team.
Mr. McKay observes that “we crave heroes”, even if their heroics are in the service of saving their followers (and themselves) from perils that the hero had a hand in creating. This, Mr McKay suggests, is the reason “why we often find ourselves at the centre of the storm.”
A few moments contemplating his thoughts (based on his exposure to more than a few CEOs) will help you see why he says “no one remembers a cautious captain of industry” and why sacrificing glory may be the price of long success…. a price that many CEOs will not pay.
Weapons or Tools?
Technology can be a tool or weapon depending on the intent and competence of those wielding it. Two McKinsey consultants in a short article in Recode magazine offer a quick look at seven technology forces they urge every business (whether in the tech business or not) to understand and respond to….and offer some suggestions for action.
The statistics cited on the appalling change in business failure rates over the past hundred years drive home the authors’ point that success, once achieved, can go away pretty quickly if these forces are not appreciated and planned for. Take a few moments to explore why new corporate titans are rising faster than ever, but they’re also fading faster, too
Do you understand these forces, and if so, what’s your plan?
“Why Most People Will Not Be Successful”
It’s almost a proverb that “Winners do things that others won’t.” We read many prescriptions for success, but at least equally helpful might be a list of the things we shouldn’t do. If you’d like an overview of what some real winners have learned about what not to do, check out this CNBC posting of “Why Most People Will Never Be Successful”
That’s the bad news. The good news? You don’t have to be “most people!!” You have a lot of choices about what to stop doing! Share it with the young people in your life.
Do You Know Your “MVA?”
Business people pin their hopes on finding and serving the right market; hopefully a big and growing market. But maybe a focus on a big market is not the right answer. Marketing pro Seth Godin suggests that the shortest distance between the two points of where you’re at now and big time business success may not be a straight line. In a half-page blog, Mr. Godin advocates that you concentrate on your “MVA” as a prudent first step.
Econ Recon: In Praise of Conspicuous Consumption
ITR Economics President Alan Beaulieu offers a few hopeful paragraphs on the overall economybased on some hard data about what the consumer, who is 67% of the economy, is likely to do. Dr. Beaulieu offers a few other comments as well; including the straight story on wages. He concludes on the hopeful note that in the near term “The one thing you cannot control – the economy – will provide the momentum needed to maximize your profit potential”……as long as you do your part and run your business wisely, hopefully with the help of a Vistage group. Learn a little bit more about his thoughts on Consumer Power!