Luck When we talk about luck, be it good or bad, we are usually looking at past events. You can’t change the past, but you can learn from it. Recognize that the future is uncertain and often random. As events unfold do not dwell on your good or bad luck. Know where you want to [...]
Change: Pull, Don't Push "People don't resist change. They resist being changed" -Peter Scholtes How do you motivate people to want to change? Make the status quo uncomfortable and give them the opportunity and power to create change. It's not effective to push people to change and you can' t pull them to change with [...]
In An Uncertain Economy, Agility Is Essential Trade wars...Lower taxes...Privacy concerns endangering the most successful business models...Do you know where the economy is heading? Maintain flexibility, create options, be quick and agile.
A "difficult to overcome" characteristic of being human is our ability to fool ourselves. This article explains how often and easily this human tendency occurs. A peer group is one way to overcome this human error. https://qz.com/1231534/the-person-whos-best-at-lying-to-you-is-you/
Don’t Let Sunk Costs Be an Anchor on Your Business By Preston Sumner and Brian Rouff Preston: Brian, when you described tearing down and rebuilding your business model, the phrase that came to mind was “creative destruction.” Besides being a powerful concept from John Boyd’s OODA process, creative destruction goes against the grain of the [...]
High Tech, High Touch John Naisbitt coined the phrase “high tech, high touch” in his 1982 book Megatrends. Facebook epitomizes the application of the concept in its business model. Naisbitt made the point that as technology permeates our lives, there will be a countervailing desire for human connection. Oftentimes our mobile devices seem to cut [...]
The Secrets of Creating a Sustainable Competitive Advantage By Preston Sumner and Brian Rouff Preston: The Holy Grail of business is creating a sustainable competitive advantage. You can point to numerous companies that have established a clear competitive advantage. The challenge is sustaining that competitive advantage. The chart below illustrates this difficulty. Note the turnover [...]
"Two is one and one is none." When designing processes, risk management must be taken into account. What is the impact of a failed component? Can the throughput of the process be protected by the use of several lower capacity machines rather than a single high capacity machine? Can a job be shared by two [...]
"There is nothing so useless as doing efficiently that which should not be done at all." -Peter Drucker EFFECTIVENESS must come before efficiency. Effective means creating value for a customer. Processes must be designed to eliminate activities that do not add value. This is an important source of competitive advantage.
Don't Set Goals...Set Milestones The problem with goals is that the word infers a destination, an endpoint. A milestone is an achievement along a journey. Your business and your life are journeys. Celebrate your milestones, then start moving toward the next.