Tag Archives: business thinking

October 11, 2017 · 9:57 am

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

"I created this cartoon illustration in c...

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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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October 9, 2017 · 11:21 am

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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October 5, 2017 · 10:19 am

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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