Tag Archives: business thinking

Winner Winner

Monday for is a day of some reflection since it inevitably follows a weekend of sports watching. This time of year one can watch just about any sport being contested at the highest levels. College and pro football are in full swing, as is world soccer. Baseball is in the playoffs as is NASCAR. The NHL and NBA seasons are just getting started, as is the new professional golf season. Not a Saturday or Sunday passes without a bunch of winners.

Business has seasons but they’re generally not as cut and dry as those in sports. It’s pretty much a year-round effort, but it does have quite a bit of winning and losing that goes on. Every day can bring about a victory: a new contract won, a great new hire, a new position or job, or an improvement in the bottom line that the entire team worked to bring about. It’s important, however, to think about what winning means to you. What does it mean to win?

That implies a few other questions you should be asking yourself and your organization. Why are you doing what you’re doing? That question gets at your purpose and begins to provide the measuring stick for victory. We succeed by effort and by striving to reach a goal or goals. Defining what they are is an important piece for each individual and for the common goals your team needs to have.

As businesspeople, we need to remember that winning is different for everyone. We need to foster an environment where each person can win by their own definition. How can we help one another to improve? How can we put ourselves and our organizations in the best position? The answers to those sorts of questions are what fills up sports TV pregame shows and the analysis of how well each player and team accomplished what they set out to do is postgame fodder. Maybe we ought to do pre- and post-game interviews in our places of business since it would become fairly obvious if we’ve defined winning and set ourselves up to achieve victory. What do you think?

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Truthiness Wins

If you’re not familiar with the term “truthiness,” you should be. Coined way back in 2005 by Stephen Colbert, it’s a term that refers to

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(Photo credit: Wikipedia)

the belief or assertion that a particular statement is true based on the intuition or perceptions of some individual or individuals, without regard to evidence, logic, intellectual examination, or facts. Truthiness can range from ignorant assertions of falsehoods to deliberate duplicity or propaganda intended to sway opinions.

It was meant to be a term of satire, generally describing a politician departing from an obvious set of facts to espouse something that seems like the truth but isn’t. A dozen years ago, that was a circumstance that was relatively unusual. Today, it’s the norm, both in business and out. If you’re reading today’s screed thinking that I have an answer, you can stop here: I don’t. There are way too many vested interests that have come to rely on truthiness as a way of doing business, and that’s a shame.

Facebook recently admitted that Russian agents used its network to distribute disinformation to roughly 10 million U.S. users in order to influence the 2016 U.S. presidential election. They and other social platforms are trying to figure out how to readily identify “fake news“, all of which fits the definition of truthiness to a tee. To paraphrase Cassius in Julius Caesar, the fault, dear reader, is not in our stars or our social platforms, but in ourselves. We believe what we want to believe thanks to confirmation bias, and the explosion of content sources has made it possible for us never to hear a point of view to the contrary.

This is bad in real life and could be fatal in business. If we only pay close attention to evidence and arguments that support our own thinking on various business issues, and to toss out or ignore contradictory evidence, the odds are good that we’ll fall for something that’s truthy rather than true.

It’s 2017 and truthiness has won, or at least it’s holding the high ground and doing an excellent job of fighting off reality. Our job as business people is to win the battle and put truthiness back into the hands of the satirist from whence it came, both in business and in real life. Are you with me?

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Filed under Reality checks, Huh?, Thinking Aloud

You Can’t Handle The Truth

There has never been a time when it’s been easier to get information. If you don’t believe me, pick up that computer you keep by your side most of the time (that would be your smartphone), push whichever button activates either Siri, Google Assistant, or whatever flavor of virtual assistant you have installed, and ask what the weather will be tomorrow. Ask who the Prime Minister of Denmark is or a few ways you can cook a turnip. We have the world at our fingertips.

That can be true with business information too. Traffic to your media properties, interactions with your content, results of your ad and social media campaigns, and feedback on how your company or brand is interacting with the world at large are all readily available for analysis and action. So is customer data, market predictions, and just about anything else you’d need to know. Pretty awesome, right?

The problem is that not everyone wants to know the truth about these things. Take the manager whose staff is leaving in droves. They “hear” it’s because of a better offer but they don’t take the time to sit down and dig into if there is an underlying problem in their operation. They couldn’t handle it if the problem was really them and their management style so they avoid the question.

Then there is the web person who is under pressure to keep growing traffic and doesn’t bother to exclude the kinds of traffic that inflate the numbers. You know: your own internal use of your website, traffic from places where you don’t do business, referrer spam or other obviously fake traffic. They know the truth but their bosses can’t handle it.

The problem with having information is that it compels you to act. We can always deny there is a problem if we don’t know about it or if we think the information we have is inaccurate. As with the law, ignorance is no excuse in my mind. I’ve been in meetings where some excellent forecasting predicts a downturn in a company’s business but several members of the management team want to expand their spending. The forecasts are subordinated to the feeling that more spending will yield more revenue despite the fact that the company’s share of the market has been steady for years and probably won’t increase in a downturn (which is basically what the managers are predicting). They couldn’t handle the truth: they need to tighten their belts and ride out the next few quarters. They’re no longer in business, by the way.

We hear an awful lot about fake news and there certainly is some out there to be ignored. Your business analytics don’t fall into that category and you ignore them at your own peril. If you can’t handle the truth, you can assume that reality will handle you one way or another. OK?

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A Disgusted Capitalist

Let me begin by saying I’m a fan of making money. However, just as with free speech (you can’t yell “fire” in a crowded theater), I think there are some limits as to what a person can do in order to make that money. I was reminded of what those limits should be this week when I received what is not, unfortunately, an atypical letter in the mail.

I recently registered my business in a new place. I also purchased a car. In both cases, I received letters in the mail that seemed incredibly official but which were, in fact, full of deceptive language and claims. In the former case, I got a “Labor Law Compliance Notice,” that informed me I was required by Federal Law(!!) to hang a poster in my place of business. While that might be true for most businesses, because I have no employees, my business is not required to hang anything other than the 250 pictures of myself I keep around for inspiration. A little research by this company would have saved them the stamp. Still, this notice is extremely official looking, cites Federal Law, and looks like a bill for $84. Had I been required to hang these posters, there are numerous other vendors who will sell you the same thing for a quarter the price.

The same sort of deceptive crap followed the car purchase. Notices about activating my warranty came from a few sources, none of which had anything to do with the car manufacturer, and who were looking to sell me a superfluous warranty (the car will be under the manufacturer’s warranty for quite a while). Obviously, since these folks can see what year the car was made they know that, but they sent the letters anyway.

You’ve probably received phone calls from the “service department” or “IT support” telling you your computer is full of spam. While the aforementioned companies don’t fall into the outright scam category that the computer scammers do, they raise a serious issue for us all:

How far will we go to make a buck?

Charities that give tiny percentages of the money raised to the causes they serve, enriching the folks who run them instead. VW and other manufacturers rigging emission tests. Kellogg‘s claiming Rice Krispies boosted the immune system or Mini-Wheats made you smarter. It’s a long list, one to which I’m sure you could add just by opening your mail.

There are people behind these deceptions, people with minimal ethical principles. Did they at any point ask themselves how they’d feel if their elderly parent bought into a scam they were enabling?

I’m all for making a buck, lot of them in fact. But as with almost everything, there is a right way and a wrong way. You decide.

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Filed under Huh?, Thinking Aloud

Breaking The Fast

We’ve arrived at Yom Kippur again and there is a part of the holiday’s traditions that involves food so it’s an appropriate Foodie Friday topic. Beginning this evening, those who observe the holiday will fast for 24 hours. Traditionally, the meal that follows the fast is “dairy”: bagels, cream cheese, smoked fish of some sort, a sweet noodle dish called kugel, and cakes. The thinking is that a relatively bland meal is appropriate following a fast and the dishes can be prepared ahead since one doesn’t do work of any sort on the day. Hey – if Sandy Koufax can skip work and not pitch the World Series (which made a huge impression on me back in 1965), you and your bubbe can stay out of the kitchen.

My family generally had whitefish salad, egg salad, and tuna salad available as well. I know that blintzes are big with some families, although my family was never patient enough to cook them (listen, when you’ve not eaten for 24 hours, even another 10 minutes is an eternity). Everyone would generally grab whatever was available to eat immediately, breaking the fast while their bagel toasted.

Obviously, there is a much more important aspect to the holiday than food. Last year I wrote that:

Most people think of the day in terms of atoning for one’s sins. That’s not quite right in that it’s an incomplete statement. That atonement is only a part of the equation. There is a broader focus on other things as well. One is charity, one is repentance and the other is prayer. Those things can also be interpreted as trying to embody high ideals, returning to those values and ideals if we’ve strayed from them, and self-reflection.

Whether you’re Jewish or not, taking a day to think about that three-legged stool is a valuable thing, both personally and with respect to your business. Since this is a business blog, let me focus on the business aspect. Every business needs to give back somehow. Whether it’s mentoring on a pro bono basis or sponsoring a Little League team, it’s not only smart marketing. It’s the right thing to do.

Atoning in business is simply reflecting on the times over the past year when you missed the mark and determining to do better. It may be a badly handled customer service issue or it may be treating an employee badly. Identifying those instances and improving the future is a fundamental part of being a good businessperson.

And prayer? I’ll leave that to you. I was always taught that prayer is not about you and shouldn’t focus on your wants. I think even atheists can pray since, as Emerson said, “Prayer is the contemplation of the facts of life from the highest point of view.” Not a bad place for any businessperson to be.

Happy New Year!

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Filed under food, Thinking Aloud

Decluttering

As I mentioned in this space a while back, we sold Rancho Deluxe. The process of getting it ready for sale forced us to look at every single thing in the place. We made piles. One for stuff we’d keep and, therefore, have to pack and move. One for stuff we’d donate. One for stuff that was worthless and was trash. My old college papers fell into that pile, although I’m not sure my folks would agree with the categorization since they paid for the education. The last pile was for stuff we’d sell.

It was an interesting process since it forced us to really think about each item. What struck me was how little we actually kept and how much of what was in that house was just clutter. Of course, each of us has a ton of clutter in our lives, as do our businesses. I’m pretty sure that each of us could do with a decluttering as well.

Is your business media of some sort? My guess is that revenue pressures have forced a tremendous amount of clutter into your content. The commercial and promotional load (non-program material) in TV is damn near double what it was years ago. Websites are unusable due to pop-ups, pop-unders, autoplay videos, and other crap that generate minimal revues and maximum anger. The clutter of on-screen graphics has grown to obscure important parts of news, sports, or entertainment programming. The sports business is adding more logos and signage everywhere, ala NASCAR. While I know NASCAR fans are incredibly brand-loyal, I also wonder if there is a certain amount of brand blindness that occurs, much as ad banner blindness is something researchers have found to occur on cluttered web pages. No one watches anything (maybe other than the Super Bowl) for the ads.

Look at your inbox. How much email is newsletters you don’t read or email from companies from which you bought something five years ago? How much of your social news feeds is clutter? How about unsubscribing from the former and using mute on the latter?

How many companies or people with whom you do business are jerks? How about decluttering and finding alternatives? How many things on your calendar are obligations that aren’t of interest? Maybe decluttering them from your calendar will give you the time to pursue what you really love?

I’m still working on this. My fridge is often full of random bits of food that have seen better days and there are clothes in my closet with holes and stains that I keep because of an emotional tie of some sort. Still, I tossed an awful lot of junk and am selling off even more. I’m using the money to buy things I really want (and I know I really don’t NEED much of anything). Worth a try?

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Filed under Helpful Hints, Reality checks, Thinking Aloud

Embracing Change

“The only constant is change” is an old saw, but it got to be so because it’s true. I mean, it was uttered by an ancient Greek philosopher (Heraclitus) and has been repeated for 1,500 years. Change is inevitable yet a lot of us are incredibly resistant to it. We carry that resistance into our business lives as well.

Most businesses are pretty good at living in today. They have a grasp on their current situation and have allocated resources to deal with their daily operations based on that situation. A lot of businesses also have a grasp on what will happen tomorrow. They plan lines of succession within departments and train their staff to move up. They allocate capital to grow strategically based on how they see tomorrow playing out. Generally, the short-term doesn’t portend radical change.

The problem occurs when you ask businesses (and people) to think about the day AFTER tomorrow – the longer term in which change occurs. In some cases, people don’t even recognize that there will be a day after tomorrow. Try to have a chat with a 23-year-old employee about retirement and the need to start saving today for something 50 years down the road if you want proof of that. A lot of managers guide their businesses based on a series of short-term plans and goals without contemplating the sustainability of their plans over long-term. They don’t embrace change because they don’t want to accept that it’s going to happen.

The music business fought change and where are they now? My beloved TV business is going through this now as they continue to deny cord-cutting is a problem and refusing to adjust to this massive change. On the non-business side, I believe that many of the challenges our country faces are due to the refusal to accept how our demographic and economic base has changed. That refusal, both in business and outside of it, sparks fear as the signs of change become more prevalent. It’s really only traumatic, however, if we try to resist rather than accepting change and planning for it.

I believe in controlling your business. That means you need to contemplate change, accept it, and revise your plans before change happens to you and not because of you. Things happening due to circumstances beyond your control should be rare if you look to the day after tomorrow, embrace the inevitable change, and having a clear picture of where you’re going, not clinging to an unreasonable and unsustainable changed past. Make sense?

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