Week of March 7, 2017
“Never allow someone to be your priority
while allowing yourself to be their option.”
Do You Have a “Hit or a Myth?”
Every business wants a competitive advantage but few actually have one, including many of those that have convinced themselves they do. Vistage Speaker Jaynie Smith, author of “Creating Competitive Advantage” has helped thousands Vistage CEOs understand what a competitive advantage really is and how to create one. She offers some summary remarks on the topic to our members in the UK in this 10 minute video.
Find out if your “competitive advantage” is, as Jaynie says, a “hit or a myth”
About that 80/20 Rule…
Most of us have heard of the “80/20 rule” or “Pareto Principal” (named for the economist, Vilfredo Pareto, who originally suggested it). The rule maintains that 20% of causes create 80% of effects. While most business people would subscribe to this rule in principle, as a practical matter it can be difficult to identify the causes that are most productive and to eliminate the unproductive ones.
One writer is betting, however, “that next-generation algorithms will supercharge Pareto’s empirically provocative paradigm….that AI (artificial intelligence) and machine learning will redefine how organizations use the Pareto principle to digitally drive profitable innovation to levels beyond conventional analytics.” Your business and career may well be affected by how “AI is going to change the 80/20 rule. “
Are You Constrained?
A very worthy book, The Goal, introduced many managers to the Theory of Constraints (TOC). The Goal was a fictionalized account of a manager trying to improve manufacturing processes; but the Theory of Constraints can be used in a sales environment as well. Veteran Vistage speaker Mitch Gooze offers a white paper that is worthy of your time to understand how TOC might increase your topline.
Econ Recon:
Are You Driving the Next Depression? Companies don’t make decisions; people do. Two CEOs facing identical opportunities may perceive the associated risk in very different ways. Any number of reasons may explain this risk differential, including age. Will a Boomer take more or less risk than a Millennial? Brian Beaulieu of ITR Economics thinks there is a difference that may ultimately drive a depression. Check out his thoughts on implications of age and decision making on the economy in his blog posting “The Demographic Zone.”
The Real Reason for the Bull Market: Stocks have soared since Donald Trump was elected, with an especially notable surge of over 300 points on the Dow the day after his first address to Congress. Is Trump the reason? Economist Brian Wesbury thinks Trump is not the only driver. Check out his latest Wesbury 101 video “Trump Speaks, Stocks Soar” for the rest of the story