Business

  • Simon Sinek Says “Start with Why”

    091220-Simom-Sinek-and-Howa Inspiration is stronger than persuasion.  It gives people a sense of purpose and belonging that has little to do with external incentive or benefit.

    Simon Sinek, who is quite charismatic and well-spoken, is delivering this message to a rapidly growing fan-base. 

    My team thought Simon was inspiring, engaging and insightful.

    You can watch a short video that introduces his material below. 

    In addition, you can explore more of his ideas in his book,
    Start
    with Why: How Great Leaders Inspire Everyone to Take Action
    .

    An Example of Finding the Right Person for a Job.

    Who do you believe will do a better job, someone who takes a job because of the salary and benefits … or someone truly inspired to accomplish the job's purpose? 

    Phrased that way, of course you know the answer.  Still, how can you leverage this to better select customers and employees?

    Shackleton's Boat Stuck in Ice in at the South Pole For example, Simon uses the story of Sir Ernest Shackleton to illustrate this concept.  Shackleton was preparing to lead the first expedition across Antarctica in 1914. Legend has it that when seeking crew members for his journey, Shackleton placed the following ad in a newspaper:

    "MEN WANTED FOR HAZARDOUS JOURNEY. SMALL WAGES, BITTER COLD, LONG MONTHS OF COMPLETE DARKNESS, CONSTANT DANGER, SAFE RETURN DOUBTFUL. HONOUR AND RECOGNITION IN CASE OF SUCCESS.
    – SIR ERNEST SHACKLETON"

    When the expedition became stuck in the ice and could not be rescued for 22 months, not a single man was lost. The reason Simon gave for their unlikely survival was that Shackleton hired survivors that could deal with the situation and were aligned with the mission and purpose.

    Can you imagine writing an ad like that to attract the right people to your cause?

    Watch This Video.

    Here is a video of Simon speaking at a Ted Conference.  It is a great intro to his stuff. 

    Other Resources:

    Related Posts:

  • Simon Sinek Says “Start with Why”

    091220-Simom-Sinek-and-Howa Inspiration is stronger than persuasion.  It gives people a sense of purpose and belonging that has little to do with external incentive or benefit.

    Simon Sinek, who is quite charismatic and well-spoken, is delivering this message to a rapidly growing fan-base. 

    My team thought Simon was inspiring, engaging and insightful.

    You can watch a short video that introduces his material below. 

    In addition, you can explore more of his ideas in his book,
    Start
    with Why: How Great Leaders Inspire Everyone to Take Action
    .

    An Example of Finding the Right Person for a Job.

    Who do you believe will do a better job, someone who takes a job because of the salary and benefits … or someone truly inspired to accomplish the job's purpose? 

    Phrased that way, of course you know the answer.  Still, how can you leverage this to better select customers and employees?

    Shackleton's Boat Stuck in Ice in at the South Pole For example, Simon uses the story of Sir Ernest Shackleton to illustrate this concept.  Shackleton was preparing to lead the first expedition across Antarctica in 1914. Legend has it that when seeking crew members for his journey, Shackleton placed the following ad in a newspaper:

    "MEN WANTED FOR HAZARDOUS JOURNEY. SMALL WAGES, BITTER COLD, LONG MONTHS OF COMPLETE DARKNESS, CONSTANT DANGER, SAFE RETURN DOUBTFUL. HONOUR AND RECOGNITION IN CASE OF SUCCESS.
    – SIR ERNEST SHACKLETON"

    When the expedition became stuck in the ice and could not be rescued for 22 months, not a single man was lost. The reason Simon gave for their unlikely survival was that Shackleton hired survivors that could deal with the situation and were aligned with the mission and purpose.

    Can you imagine writing an ad like that to attract the right people to your cause?

    Watch This Video.

    Here is a video of Simon speaking at a Ted Conference.  It is a great intro to his stuff. 

    Other Resources:

    Related Posts:

  • Getting Ready for the New Year with Postive-Focused Planning

    Holiday shopping season is in full-force.  That means 2010 is right around the corner.

    091206-Good-News-Bad-News As an early gift, I got to go to a hockey game with my son.  This picture captures a Good News – Bad News moment for me.  On the positive side, I'm happy to see that my son shaved off his strangely orange mop of hair. However, standing next to him, I look like a professional "before" model.

    That helped me realize that it's time to start thinking about New Year's resolutions, and specifically some health related resolutions.

    Here is a summary of that process.  Hopefully, you can use some of these concepts.

    • Focus on What You Want.
    • Focus on Why You Want It.
    • Focus on Ways You Might Get it.
    • Focus on the Progress.

    Below, I'll take you through an example of the four steps you need to use Positive-Focused Planning to get what you want.

    Moving Towards a Solution, Rather Than Suffering with the Problem.

    My first instinct was to think "I need to lose weight".  Knowing that "you're fat" isn't helpful … my head, quickly translates that to something a tad more positive, yet generic, like: "I choose to be healthy and vital, and to live a healthy lifestyle".

    Blah, blah … They are just words.  What I needed was something specific, measurable and actionable.  How about: "I will lose 15 pounds and stop eating after dinner."  OK, but that isn't inspiring, and there isn't much for me to do. I can do better than that.

    Figure-Out a Big Enough WHY, Rather Than Worrying about the HOW's.

    This post isn't about health and fitness, it is about the mind-set and techniques you can use to set empowering goals and plans in any situation.

    091206 Peaceful Easy Feeling So, while I could list a lot of ways to lose weight; and I might even remember to do some of them, when you create a driving force, the momentum takes care of itself.  The first step in doing that is knowing WHY you want something.

    I really do want to be healthy and vital (it sure beats the alternatives), and I want to have the energy and confidence to live and enjoy my life fully.  The world is my playground, and I want to take advantage of more opportunities to play with family and friends.  In order to do those things, I must find better ways for me to live a healthy lifestyle.

    The WHYs are just as important for business goals too.

    Focus on Potential Solutions, Rather than Problems or Challenges.

    091206 Obstacle Obstacles Exist. The bad news: I don't eat fish and I don't like vegetables (unless French Fries are vegetables).  My joints aren't close to healthy from years of violent contact sports.  And I rarely get 7 hours of sleep.  The good news: is none of those things matter; and even if they did, it just would mean that I have a lot of room for progress.

    It is natural to focus on obstacles.  Use them as a reminder to focus on potential solutions instead. They are beacons, pointing the way.

    How do you do it?  To focus on solutions, you can make two action-based lists: one is of things To-Do … and another is of things Not To-Do.

    Here are some of the sample To-Do Items:

    • I will drink more water than coffee.
    • I will stretch, or do basic calisthenics, on days that I do not go to the gym.
    • I will make a healthy shake as a meal replacement rather than a meal supplement.
    • I will focus on relaxation and meditation, as much as I focus on strength & physical exercises.

    Here is the actionable list of Not To-Do Items.

    • I will not buy new pants or wear stretchy pants.
    • I will not eat snacks out their container, and will portion-out what I want first.
    • I will not compare my current level of fitness to what I used to be able to do. Instead I will focus on my actions and improvement.

    Create Healthier Habits.

    It is easy to follow your routine.  So, make your routine better.  Here are some examples of things you could do to make being healthier happen with less effort.

    • Pre-sort your vitamins into daily doses, and keep them by the coffee machine.
    • Buy healthy snacks, like fruit, raw nuts or organic energy bars (instead of chips).
    • Make exercise time, the time you enjoy listening to music.
    • Park at the end of the parking lot, so you get to walk.
    • Meet with friends at the gym, rather than a bar or restaurant.

    You get the idea.  Get in the habit of looking for ways to create better habits.  What habits could you alter slightly, to make a big difference?  Which things can you automate or outsource?

    Focus on Your Progress.

    In this case, it really is about the journey.  Instead of keeping track of how far you have to go … notice how far you've come.  It is about creating energy, momentum and a sense of possibility.  You may have a big, hairy, audacious goal in mind.  That's fine, as long as you realize that reaching each milestone along the way is still an accomplishment.

    • Find shoes that don't hurt your feet.
    • Pick a gym, or a personal trainer.
    • Run more than two laps without stopping.

    It doesn't matter what they are are … they all count, as long as you know that you are moving in the right direction.

    Summary.

    The point of this exercise as was not really to focus on fitness. These techniques and goal-setting tools work in any situation. The principles are:

    1. First, figure out what you want, and why it is important to you. 
    2. Second, find something you can do, right now, which moves you in the right direction.
    3. Third, notice which things create (rather than take) energy. Spend your time on those, and automate or create routines to take care of the rest.
    4. Fourth, set milestones so that you can recognize and celebrate your progress.
  • Getting Ready for the New Year with Postive-Focused Planning

    Holiday shopping season is in full-force.  That means 2010 is right around the corner.

    091206-Good-News-Bad-News As an early gift, I got to go to a hockey game with my son.  This picture captures a Good News – Bad News moment for me.  On the positive side, I'm happy to see that my son shaved off his strangely orange mop of hair. However, standing next to him, I look like a professional "before" model.

    That helped me realize that it's time to start thinking about New Year's resolutions, and specifically some health related resolutions.

    Here is a summary of that process.  Hopefully, you can use some of these concepts.

    • Focus on What You Want.
    • Focus on Why You Want It.
    • Focus on Ways You Might Get it.
    • Focus on the Progress.

    Below, I'll take you through an example of the four steps you need to use Positive-Focused Planning to get what you want.

    Moving Towards a Solution, Rather Than Suffering with the Problem.

    My first instinct was to think "I need to lose weight".  Knowing that "you're fat" isn't helpful … my head, quickly translates that to something a tad more positive, yet generic, like: "I choose to be healthy and vital, and to live a healthy lifestyle".

    Blah, blah … They are just words.  What I needed was something specific, measurable and actionable.  How about: "I will lose 15 pounds and stop eating after dinner."  OK, but that isn't inspiring, and there isn't much for me to do. I can do better than that.

    Figure-Out a Big Enough WHY, Rather Than Worrying about the HOW's.

    This post isn't about health and fitness, it is about the mind-set and techniques you can use to set empowering goals and plans in any situation.

    091206 Peaceful Easy Feeling So, while I could list a lot of ways to lose weight; and I might even remember to do some of them, when you create a driving force, the momentum takes care of itself.  The first step in doing that is knowing WHY you want something.

    I really do want to be healthy and vital (it sure beats the alternatives), and I want to have the energy and confidence to live and enjoy my life fully.  The world is my playground, and I want to take advantage of more opportunities to play with family and friends.  In order to do those things, I must find better ways for me to live a healthy lifestyle.

    The WHYs are just as important for business goals too.

    Focus on Potential Solutions, Rather than Problems or Challenges.

    091206 Obstacle Obstacles Exist. The bad news: I don't eat fish and I don't like vegetables (unless French Fries are vegetables).  My joints aren't close to healthy from years of violent contact sports.  And I rarely get 7 hours of sleep.  The good news: is none of those things matter; and even if they did, it just would mean that I have a lot of room for progress.

    It is natural to focus on obstacles.  Use them as a reminder to focus on potential solutions instead. They are beacons, pointing the way.

    How do you do it?  To focus on solutions, you can make two action-based lists: one is of things To-Do … and another is of things Not To-Do.

    Here are some of the sample To-Do Items:

    • I will drink more water than coffee.
    • I will stretch, or do basic calisthenics, on days that I do not go to the gym.
    • I will make a healthy shake as a meal replacement rather than a meal supplement.
    • I will focus on relaxation and meditation, as much as I focus on strength & physical exercises.

    Here is the actionable list of Not To-Do Items.

    • I will not buy new pants or wear stretchy pants.
    • I will not eat snacks out their container, and will portion-out what I want first.
    • I will not compare my current level of fitness to what I used to be able to do. Instead I will focus on my actions and improvement.

    Create Healthier Habits.

    It is easy to follow your routine.  So, make your routine better.  Here are some examples of things you could do to make being healthier happen with less effort.

    • Pre-sort your vitamins into daily doses, and keep them by the coffee machine.
    • Buy healthy snacks, like fruit, raw nuts or organic energy bars (instead of chips).
    • Make exercise time, the time you enjoy listening to music.
    • Park at the end of the parking lot, so you get to walk.
    • Meet with friends at the gym, rather than a bar or restaurant.

    You get the idea.  Get in the habit of looking for ways to create better habits.  What habits could you alter slightly, to make a big difference?  Which things can you automate or outsource?

    Focus on Your Progress.

    In this case, it really is about the journey.  Instead of keeping track of how far you have to go … notice how far you've come.  It is about creating energy, momentum and a sense of possibility.  You may have a big, hairy, audacious goal in mind.  That's fine, as long as you realize that reaching each milestone along the way is still an accomplishment.

    • Find shoes that don't hurt your feet.
    • Pick a gym, or a personal trainer.
    • Run more than two laps without stopping.

    It doesn't matter what they are are … they all count, as long as you know that you are moving in the right direction.

    Summary.

    The point of this exercise as was not really to focus on fitness. These techniques and goal-setting tools work in any situation. The principles are:

    1. First, figure out what you want, and why it is important to you. 
    2. Second, find something you can do, right now, which moves you in the right direction.
    3. Third, notice which things create (rather than take) energy. Spend your time on those, and automate or create routines to take care of the rest.
    4. Fourth, set milestones so that you can recognize and celebrate your progress.
  • Shopping Smarter: Where to Find the Best Deals this Season

    Here is a list of shopping tools that can save you money and time.

    These are sites I've used myself and was happy about using.  Please let me know if you have additions or suggestions.

    The suggestions fall into several main categories: Deals, Price Comparison, and Phone Apps.

    Deals:


    Price Comparison:


    Phone Apps:


    Honorable Mentions: Other Resources Worth Checking

  • Shopping Smarter: Where to Find the Best Deals this Season

    Here is a list of shopping tools that can save you money and time.

    These are sites I've used myself and was happy about using.  Please let me know if you have additions or suggestions.

    The suggestions fall into several main categories: Deals, Price Comparison, and Phone Apps.

    Deals:


    Price Comparison:


    Phone Apps:


    Honorable Mentions: Other Resources Worth Checking

  • Jump Point: How Network Culture is Revolutionizing Business

    This is a compelling book.  The title refers to a change in the environment, so startling that we have no choice but to re-group and re-think the future.

    When it happens, everything changes and the old trusted rules of the road to go out the window.

    The book hype says: The Web 3.0 world of “pandemic economics” is a new economy that will
    function outside the traditional laws of commerce, free from today's
    impediments to business growth, and in a world where every person is
    connected to each other. Jump Point will help you to challenge old assumptions, re-think your business
    models, and take advantage of this fast-moving, unfettered, and
    fiercely competitive environment.

    When Does It Happen?

    The economic history of the world is punctuated by Jump Points. The tricky part has been identifying them at the right time.

    Very often, we mistake the arrival of a stunning new invention for the Jump Point.  It is easy to get mesmerized by a new innovation, and to think the world has changed the day a new technology leaves the lab. But that is rarely, if ever, the case. That is not the Jump Point.

    Instead, technology revolution is a fitful process. New technologies take time to be absorbed, diffused and adopted. We are a curious species; it is human nature to tinker, and experiment, test, and play. And most inventions improve with application, adoption, and time. Therefore, most Jump Points occur well after the enthusiasm settles and the parade has passed.

    Real Jump Points most often arrive after we grow complacent about that invention, when the technology becomes routine and unremarkable, after the novelty has worn off and the technology has gone mainstream. It is then that rapid change finally happens.  Interesting.

    Jump Point: How Network Culture is Revolutionizing Business

  • Jump Point: How Network Culture is Revolutionizing Business

    This is a compelling book.  The title refers to a change in the environment, so startling that we have no choice but to re-group and re-think the future.

    When it happens, everything changes and the old trusted rules of the road to go out the window.

    The book hype says: The Web 3.0 world of “pandemic economics” is a new economy that will
    function outside the traditional laws of commerce, free from today's
    impediments to business growth, and in a world where every person is
    connected to each other. Jump Point will help you to challenge old assumptions, re-think your business
    models, and take advantage of this fast-moving, unfettered, and
    fiercely competitive environment.

    When Does It Happen?

    The economic history of the world is punctuated by Jump Points. The tricky part has been identifying them at the right time.

    Very often, we mistake the arrival of a stunning new invention for the Jump Point.  It is easy to get mesmerized by a new innovation, and to think the world has changed the day a new technology leaves the lab. But that is rarely, if ever, the case. That is not the Jump Point.

    Instead, technology revolution is a fitful process. New technologies take time to be absorbed, diffused and adopted. We are a curious species; it is human nature to tinker, and experiment, test, and play. And most inventions improve with application, adoption, and time. Therefore, most Jump Points occur well after the enthusiasm settles and the parade has passed.

    Real Jump Points most often arrive after we grow complacent about that invention, when the technology becomes routine and unremarkable, after the novelty has worn off and the technology has gone mainstream. It is then that rapid change finally happens.  Interesting.

    Jump Point: How Network Culture is Revolutionizing Business

  • The Rules Are Changing

    Goldman Sachs lost money trading only
    one day last quarter, and only two days the prior quarter.

    Come on, how could that be? Their boss does say that banks “Do God’s work.”  I’m not sure that is a sufficient explanation.  When a firm’s trading performance challenges not only all preconceptions of realistic trading, but also of statistical distributions, it’s worth looking into.

    Here’s what ZeroHedge has to say about it.  Here is a chart that demonstrates Goldman’s YTD trading track record: out of 194 trading days in 2009, the firm has made over $100 million on 116 occasions! This alone accounts for at least $11.6 billion in revenue (and is likely much more).

    091108 GS Trading Performance

    Yves Smith, at Naked Capitalism, adds: maybe I am just hopelessly out of touch, or perhaps more accurately, the
    Fed has created such a ridiculously favorable environment for banks and traders
    that if you are moderately competent, making money is like shooting fish in a
    barrel. But a winning streak this consistent looks like a rigged game. Is this
    just, ahem, “information advantages”? Greater ease in pushing markets around
    that have fewer players? Just a function of those monstrously wide bid-asked
    spreads? I’m curious for a sanity check from people closer to the action.

    The party line comes in the Financial
    Times
    :

    The performance – revealed on Wednesday in a regulatory filing – compares
    with two losing trading days in the previous quarter and confirms that the
    authorities’ drive to revive markets after the crisis is yielding huge windfalls
    for some banks.

    Before the crisis, banks regularly recorded trading losses on several days in
    a quarter.

    Goldman made more than $100m in profits on 36 of the 65 days in the three
    months to September and recorded more than $50m in profit on more than eight out
    of 10 trading days, the filing shows.

    These figures were down from the second quarter, when Goldman reported record
    trading revenues and had 46 days with $100m-plus in profits. The smaller number
    of days with $100m-plus profits in the third quarter partly reflects the bank’s
    decision to rein in risk-taking in areas such as interest rates and
    equities.

    There is a suggestion here that banks like Goldman might be taking advantage
    of the Fed and Treasury (although that might be by design, yet another hidden
    subsidy).

    Let me know what you think about this.

    Here is a how there stock is doing.

    Here is a link to a prior Goldman Sachs article worth checking-out.

  • The Rules Are Changing

    Goldman Sachs lost money trading only
    one day last quarter, and only two days the prior quarter.

    Come on, how could that be? Their boss does say that banks “Do God’s work.”  I’m not sure that is a sufficient explanation.  When a firm’s trading performance challenges not only all preconceptions of realistic trading, but also of statistical distributions, it’s worth looking into.

    Here’s what ZeroHedge has to say about it.  Here is a chart that demonstrates Goldman’s YTD trading track record: out of 194 trading days in 2009, the firm has made over $100 million on 116 occasions! This alone accounts for at least $11.6 billion in revenue (and is likely much more).

    091108 GS Trading Performance

    Yves Smith, at Naked Capitalism, adds: maybe I am just hopelessly out of touch, or perhaps more accurately, the
    Fed has created such a ridiculously favorable environment for banks and traders
    that if you are moderately competent, making money is like shooting fish in a
    barrel. But a winning streak this consistent looks like a rigged game. Is this
    just, ahem, “information advantages”? Greater ease in pushing markets around
    that have fewer players? Just a function of those monstrously wide bid-asked
    spreads? I’m curious for a sanity check from people closer to the action.

    The party line comes in the Financial
    Times
    :

    The performance – revealed on Wednesday in a regulatory filing – compares
    with two losing trading days in the previous quarter and confirms that the
    authorities’ drive to revive markets after the crisis is yielding huge windfalls
    for some banks.

    Before the crisis, banks regularly recorded trading losses on several days in
    a quarter.

    Goldman made more than $100m in profits on 36 of the 65 days in the three
    months to September and recorded more than $50m in profit on more than eight out
    of 10 trading days, the filing shows.

    These figures were down from the second quarter, when Goldman reported record
    trading revenues and had 46 days with $100m-plus in profits. The smaller number
    of days with $100m-plus profits in the third quarter partly reflects the bank’s
    decision to rein in risk-taking in areas such as interest rates and
    equities.

    There is a suggestion here that banks like Goldman might be taking advantage
    of the Fed and Treasury (although that might be by design, yet another hidden
    subsidy).

    Let me know what you think about this.

    Here is a how there stock is doing.

    Here is a link to a prior Goldman Sachs article worth checking-out.