Week Of October 14, 2019

“We all savor victories and suffer defeats.  But neither victories or

defeats should describe us; rather, we are defined by whether we have

the will to get up and claw our way back into the game.  This is the

true challenge, one seemingly without end, for life is our ‘long game.’”

 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

“Be kind, for everyone you meet is fighting a great battle.

Plato

WEEK OF OCTOBER 14, 2019

 

“Nothing is ever as good or as bad as it seems.”

Scott Galloway, Entrepreneur and NYU Marketing Professor

 

THIS WEEK’S STUFF

  • Second Place Boomers
  • Invisible Men and Women
  • The Algebra of Happiness
  • Is Your Product Missing Something?
  • Econ Recon:  ; 1st Century Fools Gold
  • Busy, But Worried

 

SECOND PLACE BOOMERS

This year Millennials (Gen Y) became the largest adult cohort in the US with another cohort, Gen Z, hot on their tails.  They will drive more and more of the economy both in terms of managing businesses and through living personal financial lives which may be different from ours.  If you’re a Boomer planning to be around for a while, this article from Bloomberg profiles the expected financial behavior of those who will driving the bus from now on.

 

INVISIBLE MEN AND WOMEN

Unemployment is at record post-World War II lows.  While we are all fighting the war for talent, there are still good people who want jobs and cannot find them, according to Wharton Professor Peter Capelli.  Why should that be?  He thinks that if companies recruited and hired as well as they conduct their core business, they’d have far fewer talent issues.

Do you really know if your hiring processes would stand up against your competitors?  This Knowledge at Wharton article and interview  recaps Dr. Capelli’s recent HBR Article, “Your Approach to Hiring is All Wrong.”  Read this and share it with your HR/Recruiting staff on why you should start using a funnel instead of “wasting time and money chasing…thousands.”  If you do, a lot of “invisible” men and women, may suddenly materialize for you.

 

THE ALGEBRA OF HAPPINESS

Academics and businesspeople need each other, but often see the world very differently.  Dr. Scott Galloway at the Stern School at NYU, who is also a startup veteran and public company board member, has lived in both worlds and built an impressive reputation for astute analysis, commentary and remarkable presentation skills.

He has a new book, The Algebra of Happiness, in which he distills the lessons of his varied experience into a compelling and entertaining read.  In particular, he has some great advice for college students.  If you want an overview this 10 minute video recap by Galloway of his book  is compelling.  If you like the appetizer, this 80 minute interview/discussion with Galloway at the NYU Campus with students is excellent.  It’s a wonderful blend of experience, wisdom and humor that deserves the time it demands.  Take a look and if you agree, share it with young people you care about.  Great advice from a great teacher, experienced entrepreneur and talented story teller.

 

IS YOUR PRODUCT MISSING SOMETHING?

CEOs should always be looking for new offerings, but not before they’ve made sure that their current product line is doing its best to satisfy the customer.  Professor Bill Barnett of the Stanford Graduate Business School, who focuses on competition, offers an excellent short blog on the need for your product or service to be “whole.”  He says, “The whole product delights your customer by satisfying COMPLETELY a single need” and sites several well-known examples to illustrate.  Does yours?   

 

ECON RECON

21st Century Fools Gold:   You’ve no doubt heard that several countries’ debt obligations now pay negative interest rates.   The debt holders are effectively paying for the privilege of lending.  How can that be?  Dr. Brian Wesbury explains why this should be so in a recent Wesbury 101 video “Negative Interest Rates are Fool’s Gold.”

Busy, But Worried:   The latest Vistage CEO Confidence Index shows that C-Level leaders are increasingly concerned about the economy but are still very busy.  Click here for a summary and the download of the entire Confidence Index Report.   While you’re on the site, sign up for the Vistage newsletter and for webinars featuring some terrific content and speakers

 

Have a good week!