Sweet.
Hedge-fund managers, who hunt for market inefficiency, underperformed the market by 10 percent, but still made billions each. [New York Times]
 |
|||
|
Told first hand from a gentleman I’m proud to call my father. And who at age 79 still hasn’t lost his ability to hold a crowd’s attention. Most especially when he recounts the fascinating tale of when preparation, opportunity, luck and timing all seemed to converge, somewhat fatefully and always fretfully, on a restless young lawyer from KY as he met a gifted and persnickety restauranteur named Colonel Harlan Sanders who was supposed to be a new legal client but something bigger seemed to be at play. That moment that passes quickly if not acted upon. An opportunity at a leap of faith that promises only to be a life changing event, good or bad, but nothing more specific than that. He took it and found himself at the helm of an historic moment in the fast food industry and not knowing what he was really to do day to day–and hoping and working diligently and creatively as he improvised what he imagined needed to be done so that one day, when he stepped down and enough time had passed, people might look back and say “That guy seemed to have done a lot of things right at a critical time even though there wasn’t a playbook or owner’s manual around to guide anyone through this transformational moment in the food industry.” The story is a triumph of courage over fear; creativity over predictability; and mostly instinct over expertise. And the lessons one draws are mostly personal and range from from the “So that’s how it’s done! I could have never done that!” to “So, that’s how it’s done? My goodness, I can do it if that guy did!” Here’s to the latter response. Which was my father’s back in the early 1960s when his “moment’ presented itself and was wearing a goatee and a white suit and black string tie. If the goal is to develop markets start by developing talent. If you want to accomplish the most amazing things focus on developing the talent of amazing people. Mentoring and coaching are the most important leadership roles. Innovation starts by surrounding yourself and connecting with the best talent. If you want to attract the best talent develop a reputation as the best talent developer. Put growth opportunities for others ahead of your own. Put growth opportunities for others ahead of your organization and your community. If you put developing talent first you will attract the best talent. If you consistently encourage and prepare talented individuals to grow into the best opportunities, wherever they are, you will become a talent magnet. People who want to get better will want to work for, with, and near you. If you prioritize talent development people will trust their talents to you. When talented people move on to other great opportunities don’t think of it as a hole you need to fill. Don’t think of it as a transition inconvenience or a burden to take on additional tasks while filling a role. Be proud when people you mentor go on to new opportunities. High potential people will seek you out if you have a track record of celebrating and supporting the success of others. Talent development is self-fulfilling. Too many managers think only about the work that needs to be done and how to keep people focused on the task at hand. When employees leave organizations it’s viewed as a management challenge. The difference between a manager and a leader is managers try to hold on to people assigned to them at all costs and leaders try to develop people assigned to them at all costs. Leaders encourage new personal and professional development opportunities for their best people even if they are outside of the organization. Leaders who build a reputation for talent development always attract the best people.
Talent development is on my mind this week as Melissa Withers, who I have worked closely with, mentored, and learned from for the last five years, was named by the newly elected Mayor of Providence, Rhode Island, Angel Taveras, as his Director of Communication. I could not be more proud and happy for Melissa and the exciting growth opportunity that lies ahead for her. Throughout my career nothing has been more important than mentoring and supporting the personal and professional development of those I am fortunate enough to work with. I have enjoyed the privilege of mentoring and working closely with Melissa at both the Rhode Island Economic Development Corporation and at the Business Innovation Factory and know she will be successful in her new job. I am grateful for Melissa’s contribution to our success at BIF and I’m confident, thanks to Melissa, we are positioned to continue our growth and make progress on our mission to transform the next decade. As a resident of Providence and a big fan of Melissa’s I am rooting for her continued success. Read the rest of…
I highly recommend mapping your organization or community genome. Understanding the basic genetic code or wiring of any organization is key to understanding what drives the behavior of both internal and external stakeholders. Intimate knowledge of the genome’s chromosomal makeup is a prerequisite for alignment and making meaningful progress. It explains why employees, customers, and collaborators are attracted to an organization or why they aren’t. Passion for an organization, community, or movement is coded at the genetic level. If you want to transform an organization or a system, forget process reengineering and think genetic reengineering. If you want to launch a movement make your genome transparent and accessible to anyone with a similar genetic make-up. I offer up the BIF genome as an example and with the hope you will improve it. The Business Innovation Factory (BIF) is catalyzing a movement to transform the next decade. This is no time to think small! Together with a growing community of passionate innovators we are re-imagining the future of education, health care, energy, and entrepreneurship. We have identified and mapped 11 chromosomes that comprise the genome of the BIF innovation community and transformation movement. Do they resonate with you? Do you share a similar genetic make-up? If yes, do we have a movement for you!
1) Off the whiteboard and into the real world. Experiment all the time. Work fast, make mistakes, push into territories of the unknown.Taking risks is an essential part of innovation. Exceed your own expectations. 2) Business model innovation is itself a creative act. Design better ways to create, deliver, and capture value. Tweaking won’t work. Transformation is about new business models and systems. 3) Stories can change the world. Storytelling is magic. Share compelling stories to create stronger emotional connections and purposeful networks. Read the rest of… The Politics of Sequestration
Around a month since the automatic budgetary cuts known as the “sequester” began taking effect, many are still waiting for the fall-out. When will the crushing blow we were warned about start to reveal itself? According to Stephanie Condon, it may not be for some time yet.[CBS]
Not all sectors of our society have been so fortunate as to avoid stinging rollbacks. One area particularly hurt by Washington gridlock, according to Howard Fineman, is front line medical research. In a piece for The Huffington Post, Fineman uses the successful mapping of the human genome as an example of investment in medical research which is still bearing economic fruit. One would be forgiven for wondering what medical breakthrough our current political gridlock is delaying. [HP] So far there have been precious few opportunities to apply human faces to the “sequester” fiasco, barring the President or Speaker Boehner’s. However as of April 1, the sequestration began to touch Medicare. Lack of funding is reportedly forcing some cancer clinics to make tough decisions regarding how many Medicare recipients they can continue to treat. [WP] This week President Obama announced that he would return 5% of his salary to the Treasury in solidarity with those who are being hurt by sequestration. This is the sort of political theater which would normally inspire a collective eye roll from the masses. Chris Cillizza questions, however, if this symbolic gesture could actually work. [WP]
Yeah, c’mon. Don’t look confused. You know exactly what I’m talking about. And, yeah, I would be embarrassed too. In fact, I admit that I am right now.
Middle aged guys in business no longer play extreme sports or get into bar fights or even raise their voice in a combative way outside the home, the final domain of the toothless tiger. Remember the Will Ferrell SNL skit, “You should respect me because I drive a Dodge Stratus!”? That’s the mentality I’m getting at with the title above. We are driving late today in the minivan and my teenage daughter and her friend are in the backseat and I get a business call I “have to take.” It goes on and on and I’m thinking to myself, “I hope my daughter is listening to this. I’m on my game and sounding pretty darned impressive right now. Maybe she’ll finally appreciate how tough my conference calls and business meetings and PowerPoint presentations really are.”  And as an added bonus her friend was listening too and would surely reinforce this belief, I was sure, by later commenting to my daughter when I wasn’t around, “Wow, Maggie, did you hear all those acronyms you father was using? He must be really smart and important. I didn’t understand most of what he was saying. He’s a lot more impressive my other friends’ dads. You are so lucky.” (Or words to that affect)
As the call was winding up, I kicked it up a notch. Threw in some gratuitous “ROI” comment and a then long string of business acronyms that darned near made it sound like I was speaking an entirely foreign language that was so complicated it is made up entirely of abbreviations. I looked for an opening for the word “synergy” but had to settle for “coop-ition” which I kinda made up since I was already on a roll. And then I calmly and smoothly hung up the phone and slipped it in to my cowboy-like holster. All the while knowing the ‘lil ladies in the backseat had just witnessed that there was a new sheriff in town. I paused for a moment, and slowly swerved around to “apologize” for my important business call and, I admit it, see if they had any questions. Both of them had put in their earphones and were listening to their iPods totally oblivious to the machismo heroics that had just occurred in the front seat of the minivan. That my wife was driving for me. “All finished?” my wife asked with the tone I remembered hearing the first time my mom told me I was wearing “big boy pants.” I felt like I should say “I’m playing cowboy.” But didn’t have the guts to admit it. Is my bank in trouble and trying to tell me something I just made a deposit at my bank and noticed the sign above the teller
Or am I just reading too much into this? Regardless, there seems to be an opening in the Louisville market that will be here “The day after tomorrow…and all of next week.” Granted, not a great sounding tag line but the opening seems to be there. Almost there , almost there. But forgetting “there” is only an idea and not a location—it is only a guidepost and figment of our imagination that keeps us moving. What if we woke up this morning and instead of “closer” to our dreams, we had “arrived”? Me?
Which is why, I suppose, our reach should always exceed our grasp. But not by too much. As long as we are living, we are merely “in transit” —at times forward; at times backwards; and often just sideways or adrift. And at other times we simply standstill In this journey oflife we “arrive” not at a final destination –but the moment we realize that life is an endless journey –with maps, and GPS-es and Sherpas and guideposts And, as the sign in the mall says, “You are here” –now. But not for long. And we try, for today, not to run in place or swim against the tide But hopefully to float toward our destiny –which we know when we are doing because it feels like flying.  Click here for a printable version of the Sweet 16 NCAA 2013 bracket No Bracket, No Pay II is proving to be almost as thrilling a competition as March Madness itself. With 53 entries competing for some awesome political prizes, Contributing RP (and former Missouri State Representative) Jason Grill holds a tight lead, one point ahead of Friend of RP Zac Byer, and two points ahead of contributing RP (and former Republican National Chairman) Michael Steele. Contributing RP (fomer Missouri House Speaker) Rod Jetton is in a tie for 9th, while The RP himself is flailing about in 21st place. Do you regret not signing up for our competition? Are you engaged but your bracket is busted? Good news: Here at The Recovering Politician, we not only believe in second chances; it is the very mission of our site. So please join our Second Chance Sweet 16 prediction tournament — No Bracket No Pay II Chance II. Just click here to sign up and fill out your second chance NCAA bracket.
(It’s also never too late to join the rapidly growing No Labels movement — hundreds of thousands of Democrats, Republicans, and Independents, dedicated to problem-solving instead of hyperpartisanship, with smart, common-sense proposals like No Budget, No Pay. Sign on to our army by clicking here today!) |
| ||
| Copyright © 2024 The Recovering Politician - All Rights Reserved | |||
