Wednesday, June 23, 2010
Tuesday, June 8, 2010
Has America Forgotton the Fruits of Freedom?
Brian S. Wesbury - Chief Economist
Robert Stein, CFA - Senior Economist
Date: 6/7/2010
Putting aside religious beliefs, nothing in life has 100% upside – nothing. But the closest thing to a guaranteed better, safer, and more fulfilling life is freedom. Freedom means responsibility. It also means failure, accidents and mistakes. This, in turn, leads to learning, which is why successes outweigh the failures. However, humans must be free to understand the consequences of their actions. Without consequences, there is little learning.
When freedom prevails, the ingenuity and inventiveness of people creates incredible wealth. This is the source of the natural improvement of the human condition. Capitalism is created by free people. Socialism, on the other hand, is what happens when people trade their freedom for the perception of safety. And when people trade in their freedom, they trade it in for a less dynamic, less safe, life.
These days, more and more people seem willing to trade in their freedom. But who can blame them? Intellectuals and politicians are telling them it’s the right thing to do. Ken Rogoff, professor at Harvard and former Chief Economist at the IMF, has written that, “The accelerating speed of innovation seems to be outstripping government regulators’ capacity to deal with risks, much less anticipate them.” In a recent opinion piece he drew parallels between the BP oil spill and the subprime financial crisis. Like a modern-day Luddite, he asks for government protection from technology.
Many political leaders, who call themselves conservative, and say they believe in freedom, have also made the same argument, albeit in a roundabout way. By supporting TARP, stress tests, bailouts, and stimulus spending, they implicitly suggest that a system of free markets cannot remain stable without government control. These “so-called conservatives” talk the talk of freedom, but do not walk the walk. George W. Bush said that he “abandoned free market principles to save the free market system.” The only thing Americans who listen to that can believe is that free markets aren’t trustworthy.
Don’t get the wrong idea. Oil gushing from a pipe a mile deep is appalling. We wish not a drop had gurgled to the surface, ruining beachfront property and fishing habitats.
But accidents happen. The good news is that we learn from them. Between 1970 and 1979, there were an average of 25 oil spills per year of 700 tons or greater (from shipping). Between 2000 and 2009, there were just 3 per year on average. Oil companies lose money, and soil their image if oil spills. They have a huge incentive to stop spills. These incentives cause them to invest in better safety controls.
The number of plane accidents has fallen significantly. The same is true of train accidents and coal mining accidents. If the government ran all the train, plane, coal, and oil companies there would still be accidents. No one can stop them. Negative events do not mean that free markets and capitalism have failed. Freedom cannot eliminate the risk from life, but neither can government.
In fact, when government does try to eliminate risk, it often creates even more. For example, by holding interest rates at 1% back in 2003 and 2004 in order to stop deflation, the Federal Reserve created the environment necessary for the housing bubble. Fannie Mae and Freddie Mac, and other government inventions, inflated housing even more. It was these things that caused the financial panic, not freedom.
And back in the 1970s, the US government stopped the building of nuclear power plants, partially because of an accident at Three Mile Island. Today, people complain about coal and CO2 emissions – a problem made worse by the lack of nuclear power.
There is no way to take the risk out of life. When government tries, all it really does is transfer that risk elsewhere. And without the growth and advancement that freedom brings, the system breaks down and wealth creation is undermined. You can’t get something from nothing. The fruits of freedom are only available to those who are willing to take the risks of freedom. Let’s not forget that lesson.
Be well.
republished by my good friends:
John Fitzgerald Acosta
Managing Partner, CPFP
Financial Advisor, RJFS
Brian M. Fernandez
Managing Partner, CPFP
Financial Advisor, RJFS
Robert Stein, CFA - Senior Economist
Date: 6/7/2010
Putting aside religious beliefs, nothing in life has 100% upside – nothing. But the closest thing to a guaranteed better, safer, and more fulfilling life is freedom. Freedom means responsibility. It also means failure, accidents and mistakes. This, in turn, leads to learning, which is why successes outweigh the failures. However, humans must be free to understand the consequences of their actions. Without consequences, there is little learning.
When freedom prevails, the ingenuity and inventiveness of people creates incredible wealth. This is the source of the natural improvement of the human condition. Capitalism is created by free people. Socialism, on the other hand, is what happens when people trade their freedom for the perception of safety. And when people trade in their freedom, they trade it in for a less dynamic, less safe, life.
These days, more and more people seem willing to trade in their freedom. But who can blame them? Intellectuals and politicians are telling them it’s the right thing to do. Ken Rogoff, professor at Harvard and former Chief Economist at the IMF, has written that, “The accelerating speed of innovation seems to be outstripping government regulators’ capacity to deal with risks, much less anticipate them.” In a recent opinion piece he drew parallels between the BP oil spill and the subprime financial crisis. Like a modern-day Luddite, he asks for government protection from technology.
Many political leaders, who call themselves conservative, and say they believe in freedom, have also made the same argument, albeit in a roundabout way. By supporting TARP, stress tests, bailouts, and stimulus spending, they implicitly suggest that a system of free markets cannot remain stable without government control. These “so-called conservatives” talk the talk of freedom, but do not walk the walk. George W. Bush said that he “abandoned free market principles to save the free market system.” The only thing Americans who listen to that can believe is that free markets aren’t trustworthy.
Don’t get the wrong idea. Oil gushing from a pipe a mile deep is appalling. We wish not a drop had gurgled to the surface, ruining beachfront property and fishing habitats.
But accidents happen. The good news is that we learn from them. Between 1970 and 1979, there were an average of 25 oil spills per year of 700 tons or greater (from shipping). Between 2000 and 2009, there were just 3 per year on average. Oil companies lose money, and soil their image if oil spills. They have a huge incentive to stop spills. These incentives cause them to invest in better safety controls.
The number of plane accidents has fallen significantly. The same is true of train accidents and coal mining accidents. If the government ran all the train, plane, coal, and oil companies there would still be accidents. No one can stop them. Negative events do not mean that free markets and capitalism have failed. Freedom cannot eliminate the risk from life, but neither can government.
In fact, when government does try to eliminate risk, it often creates even more. For example, by holding interest rates at 1% back in 2003 and 2004 in order to stop deflation, the Federal Reserve created the environment necessary for the housing bubble. Fannie Mae and Freddie Mac, and other government inventions, inflated housing even more. It was these things that caused the financial panic, not freedom.
And back in the 1970s, the US government stopped the building of nuclear power plants, partially because of an accident at Three Mile Island. Today, people complain about coal and CO2 emissions – a problem made worse by the lack of nuclear power.
There is no way to take the risk out of life. When government tries, all it really does is transfer that risk elsewhere. And without the growth and advancement that freedom brings, the system breaks down and wealth creation is undermined. You can’t get something from nothing. The fruits of freedom are only available to those who are willing to take the risks of freedom. Let’s not forget that lesson.
Be well.
republished by my good friends:
John Fitzgerald Acosta
Managing Partner, CPFP
Financial Advisor, RJFS
Brian M. Fernandez
Managing Partner, CPFP
Financial Advisor, RJFS
Friday, June 4, 2010
If I Want It Done Right, I Do It
The STORY:
Two weeks ago on Friday afternoon, 15 minutes after normal quitting time, as Robin headed out the door to go home, Jesse, her boss, saw her walk by his office and called out to her.
"Robin, before you go, there's something I want to ask you," he shouted, getting up from behind a desk that was literally a foot deep in paper.
Mistake, thought Robin, I should have left the back way. Everyone warned me about him.
"Robin, if you have a minute..." his voice trailed off as she followed him back into his office.
"Actually, I don't," she replied, "we're having people for dinner, and I need to get home."
"Just a minute..." again the voice trailed off as if he had not even heard what she had said.
Although she was annoyed at being kept late at work, Robin was flattered, too. Jesse was actually asking her what she thought of the company's direction. He even asked her to spend some time over the weekend writing down what she thought. Then he wanted to go over it on Monday morning.
Partly to finally get out of there and partly because she believed he was really interested in her ideas, she agreed.
Robin worked all weekend to produce a 22-page report. On Monday morning she arrived, only to find out that Jesse had decided to take the day off. I guess that's what you can do when you are the company President. She left the report on his desk.
Four days later, upon returning from lunch, she found the report she had done for Jesse on her desk. Opening it, she discovered just about every inch of every page was covered with negative comments. On the last page was written, "None of your ideas have any merit. Please see me after work today. I need to make sure that you understand what I expect from my employees."
The RESULT:
Jesse has taught Robin a very valuable lesson on how to survive and prosper in his company. Never, never should any initiative or original thought be expressed. The road to success is finding out what Jesse wants and then giving him exactly that in return.
DISCUSSION:
While Jesse is an extreme case of megalomania, he did not become this extremely self-important overnight. It took years of gradually believing, more and more, that everyone around him was becoming less and less competent. Believing more and more that if he wanted it done correctly, he had to do it himself or somehow turn those around him into mindless drones who would do his bidding.
And when Robin inevitably leaves within a year or two, Jesse will ascribe her departure to the fact that she couldn't measure up to the hard work, and he is better off without her since she never really did her job anyway.
APPROACH:
For a period of two or three days, jot down on some note paper that you carry what you are doing as you go from task to task. But leave out the detail. As they use to say on an early TV program, "Just the facts."
Once you have your work list of the past two or three days, sit down with it. Now take a pen and mark those tasks you did without any assistance from anyone. Of those tasks, are there any you believe that only you are capable of doing? One or two would not be unusual.
For most tasks, ask for and use input and assistance from others in the company. And learn to agree with others on how you will combine your approaches. Then do it.
You don't need mindless drones, you need co-workers.
THOUGHT:
If you are the only one who can do it right, then you might as well work in a hall of mirrors where the only thing you see is yourself.
Two weeks ago on Friday afternoon, 15 minutes after normal quitting time, as Robin headed out the door to go home, Jesse, her boss, saw her walk by his office and called out to her.
"Robin, before you go, there's something I want to ask you," he shouted, getting up from behind a desk that was literally a foot deep in paper.
Mistake, thought Robin, I should have left the back way. Everyone warned me about him.
"Robin, if you have a minute..." his voice trailed off as she followed him back into his office.
"Actually, I don't," she replied, "we're having people for dinner, and I need to get home."
"Just a minute..." again the voice trailed off as if he had not even heard what she had said.
Although she was annoyed at being kept late at work, Robin was flattered, too. Jesse was actually asking her what she thought of the company's direction. He even asked her to spend some time over the weekend writing down what she thought. Then he wanted to go over it on Monday morning.
Partly to finally get out of there and partly because she believed he was really interested in her ideas, she agreed.
Robin worked all weekend to produce a 22-page report. On Monday morning she arrived, only to find out that Jesse had decided to take the day off. I guess that's what you can do when you are the company President. She left the report on his desk.
Four days later, upon returning from lunch, she found the report she had done for Jesse on her desk. Opening it, she discovered just about every inch of every page was covered with negative comments. On the last page was written, "None of your ideas have any merit. Please see me after work today. I need to make sure that you understand what I expect from my employees."
The RESULT:
Jesse has taught Robin a very valuable lesson on how to survive and prosper in his company. Never, never should any initiative or original thought be expressed. The road to success is finding out what Jesse wants and then giving him exactly that in return.
DISCUSSION:
While Jesse is an extreme case of megalomania, he did not become this extremely self-important overnight. It took years of gradually believing, more and more, that everyone around him was becoming less and less competent. Believing more and more that if he wanted it done correctly, he had to do it himself or somehow turn those around him into mindless drones who would do his bidding.
And when Robin inevitably leaves within a year or two, Jesse will ascribe her departure to the fact that she couldn't measure up to the hard work, and he is better off without her since she never really did her job anyway.
APPROACH:
For a period of two or three days, jot down on some note paper that you carry what you are doing as you go from task to task. But leave out the detail. As they use to say on an early TV program, "Just the facts."
Once you have your work list of the past two or three days, sit down with it. Now take a pen and mark those tasks you did without any assistance from anyone. Of those tasks, are there any you believe that only you are capable of doing? One or two would not be unusual.
For most tasks, ask for and use input and assistance from others in the company. And learn to agree with others on how you will combine your approaches. Then do it.
You don't need mindless drones, you need co-workers.
THOUGHT:
If you are the only one who can do it right, then you might as well work in a hall of mirrors where the only thing you see is yourself.
Monday, May 24, 2010
7 Must Read Life Lessons from Abraham Lincoln
Abraham Lincoln was the 16th President of the United States. He served from March 1861 until his assassination in April 1865. Lincoln successfully led the United States through its darkest hour … the American Civil War. In the end, Lincoln was able to preserve the Union and end slavery.
Prior to his election in 1860, as the first U.S. Republican president, Lincoln was a country lawyer, an Illinois state legislator, a member of the United States House of Representatives, and an unsuccessful candidate for the U.S. Senate twice.
Concerning slavery, Lincoln was forthright and open in his opposition to the expansion of slavery. This attitude earned him the Republican nomination in 1860; later that year he was elected president.
During his time in office he introduced measures that resulted in the abolition of slavery, including the issuance of the Emancipation Proclamation in 1863 and the passing of the 13th Amendment to the U.S. Constitution.
Just six days after a large-scale surrender of the Confederate forces (under General Robert E. Lee), Lincoln became the first American president to be assassinated.
Lincoln is considered by scholars to be one of the greatest U.S. presidents to ever take office.
7 Must-Read Life Lessons from Abraham Lincoln:
Prepare for Success
“Give me six hours to chop down a tree, and I will spend the first four hours sharpening the axe.”
Before you can succeed, you must prepare. When Lincoln was an unknown attorney in the backwoods of Illinois he was preparing for success, when Lincoln became an Illinois State Senator, he was preparing for success, and even when he lost the election for the U.S. senate twice, he was preparing for success. What are you doing in preparation for success? Lincoln said, “I will prepare and some day my chance will come.”
Hustle
“Things may come to those who wait, but only the things left by those who hustle.”
You can’t stroll to a goal, you must hustle; you must move quickly in order to gain the momentum necessary to break free from the gravitational pull of the commonplace. The best things in life come to those who hustle. Are you hustling?
Remember That Greatness is Possible
“That some achieve great success, is proof to all that others can achieve it as well.”
If someone else can succeed in the business that you’re in, that is proof that you can succeed as well. If someone else can become rich in the state that you’re in, that is proof that you become rich as well. You have all that the greatest of men have had: a mind, and a will. Don’t make excuses, if someone else can do it, so can you… And who knows? You may be able to do it faster and better; never underestimate you abilities.
Become Worthy of a Good Reputation
“Reputation is like fine china, once broken it's very hard to repair.”
Work to be, the way you want to be perceived. Don’t try to look good, be good. A good name is more valuable than fine gold and “choice” rubies.
Practice becoming honorable.
You can be just as honest, have just as much integrity, walk in just as much humility, and possess just as much discipline as the greatest men who have ever lived.
Make the Years Count
“And in the end, it's not the years in your life that count. It's the life in your years.”
Lincoln didn’t live to a very old age, but the “life in his years” made a profound impact on the world. Are you making your years count? Are you changing the world? You’re capable of it; if you’re able to read and understand these words, then you have the ability to make a profound impact, and that’s not just meaningless rhetoric, it’s a very real reality, but will you grasp it, will you believe it and make it “your” reality.
See the Brighter Side of Things
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
If you look for something to complain about, you will certainly find it! There’s “always” an opportunity to be “offended!” Don’t take these opportunities; they “never” lead to anything positive. Learn to see the roses in life; life is filled with roses, if you’ll take the time to see them.
Constantly Improve
“The way for a young man to rise is to improve himself in every way he can…”
If you improve everyday, imagine the improvements you could make over the course of 20 years. You could become successful “in-just-about” any field in 20 years. You can make a significant impact on the world in 20 years! Remember, slow and steady wins the race; Rome was not built in a day. Work to get a little better everyday, and it time, you will accomplish your dreams.
Thank you for reading and be sure to pass this article along!
Prior to his election in 1860, as the first U.S. Republican president, Lincoln was a country lawyer, an Illinois state legislator, a member of the United States House of Representatives, and an unsuccessful candidate for the U.S. Senate twice.
Concerning slavery, Lincoln was forthright and open in his opposition to the expansion of slavery. This attitude earned him the Republican nomination in 1860; later that year he was elected president.
During his time in office he introduced measures that resulted in the abolition of slavery, including the issuance of the Emancipation Proclamation in 1863 and the passing of the 13th Amendment to the U.S. Constitution.
Just six days after a large-scale surrender of the Confederate forces (under General Robert E. Lee), Lincoln became the first American president to be assassinated.
Lincoln is considered by scholars to be one of the greatest U.S. presidents to ever take office.
7 Must-Read Life Lessons from Abraham Lincoln:
Prepare for Success
“Give me six hours to chop down a tree, and I will spend the first four hours sharpening the axe.”
Before you can succeed, you must prepare. When Lincoln was an unknown attorney in the backwoods of Illinois he was preparing for success, when Lincoln became an Illinois State Senator, he was preparing for success, and even when he lost the election for the U.S. senate twice, he was preparing for success. What are you doing in preparation for success? Lincoln said, “I will prepare and some day my chance will come.”
Hustle
“Things may come to those who wait, but only the things left by those who hustle.”
You can’t stroll to a goal, you must hustle; you must move quickly in order to gain the momentum necessary to break free from the gravitational pull of the commonplace. The best things in life come to those who hustle. Are you hustling?
Remember That Greatness is Possible
“That some achieve great success, is proof to all that others can achieve it as well.”
If someone else can succeed in the business that you’re in, that is proof that you can succeed as well. If someone else can become rich in the state that you’re in, that is proof that you become rich as well. You have all that the greatest of men have had: a mind, and a will. Don’t make excuses, if someone else can do it, so can you… And who knows? You may be able to do it faster and better; never underestimate you abilities.
Become Worthy of a Good Reputation
“Reputation is like fine china, once broken it's very hard to repair.”
Work to be, the way you want to be perceived. Don’t try to look good, be good. A good name is more valuable than fine gold and “choice” rubies.
Practice becoming honorable.
You can be just as honest, have just as much integrity, walk in just as much humility, and possess just as much discipline as the greatest men who have ever lived.
Make the Years Count
“And in the end, it's not the years in your life that count. It's the life in your years.”
Lincoln didn’t live to a very old age, but the “life in his years” made a profound impact on the world. Are you making your years count? Are you changing the world? You’re capable of it; if you’re able to read and understand these words, then you have the ability to make a profound impact, and that’s not just meaningless rhetoric, it’s a very real reality, but will you grasp it, will you believe it and make it “your” reality.
See the Brighter Side of Things
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
If you look for something to complain about, you will certainly find it! There’s “always” an opportunity to be “offended!” Don’t take these opportunities; they “never” lead to anything positive. Learn to see the roses in life; life is filled with roses, if you’ll take the time to see them.
Constantly Improve
“The way for a young man to rise is to improve himself in every way he can…”
If you improve everyday, imagine the improvements you could make over the course of 20 years. You could become successful “in-just-about” any field in 20 years. You can make a significant impact on the world in 20 years! Remember, slow and steady wins the race; Rome was not built in a day. Work to get a little better everyday, and it time, you will accomplish your dreams.
Thank you for reading and be sure to pass this article along!
Wednesday, May 5, 2010
Confessions Of A Generation Y Infiltrator
Confessions Of A Generation Y Infiltrator
by Paul Castain on May 5, 2010
I began my mission in the fall of 2006 high atop my Dale Carnegie vantage point in Hauppauge Long Island. My mission was clear, I was to facilitate a training session for a team at MTV. Being 20 years their senior, I hoped to play that off like an older, balder brother. Who knows, maybe I could be that good.
We started our session and I hit them with everything I had. Our dialogue transitioned to full blown lecture on how one properly communicates in the business world. I placed my soapbox firmly on the floor, climbed up and told them how wrong it was to rely on email so heavily and how text messages were just inexcusable.
Then it happened, a young woman of about 25, respectfully raised her hand and proposed that maybe the problem was not in their use of these venues, but in my generation’s need to try and change them. My cover was now blown and I kind of felt like the old lady in that commercial who says “I’ve fallen and I can’t get up”
I decided from that point on I would embrace more of a “Seek first to understand” mindset and had by far, one of the most awesome discussions I’ve ever had the privilege of facilitating. School was in session for Uncle Paul.
It’s now almost 4 years later and I’m proud to say that I’ve trained and spoken before hundreds of Generation Y’s and I’ve made them a continual study. Truth be told, my main function with the company I work for now is to make this group of young Jedi’s armed and dangerous.
Here’s what I learned:
1) Houston We Have A Freakin Problem: And the problem is this need to try and change them instead of working with the landscape we’ve been given. Sure I could insist that they must embrace the old ways, or I could enter their world and teach them how to work smarter within those parameters. I see others getting caught up in this endless criticism of this generation ranging from work ethic to attire and all points in between. Please understand something and know this will sound shallow. There’s no money in that discussion for you!
2) Respect By Virtue of Age or Experience . . . Think again sista! One thing dramatically different about this generation is that they don’t give automatic respect to those with the title, experience or dare I say their elders; they give it to those who are the contributors to the organization. The ones who earn it!
3) Because They Grew Up With Technology . . . they love innovation! Sales Managers: How can you leverage that? How can you include them in the process? It may also mean that at times they are going to be relying too much on the technology. It may even mean that they have more of a clue than you do with regard to technology and you (yes you) are clinging too much to the days of yesteryear. Sales Reps Selling To Generation Y: How can YOU leverage this with your clients?
4) The True Jedi’s Will Know How To Lead (and kick the proverbial arse) Across Multi Generations: Ladies and gentlemen, our work force is living longer and they are working longer (quite frankly because they have to). We’re already seeing a huge age range from early 20’s to 60+. In our lifetime, we WILL see that number go dramatically beyond 60. That creates a need. A need for people who have a clue in how to manage across multi generations. And there’s no need to wait for that, because the need already exists now.
5) When Generation Y’s Sell To The Older Folk: When selling to what experts call the “Oldeus Farteous” understand that you might get called out on your age. Whether that situation stresses you or not, you had better prepare for it. Suggestion: Understand that it’s always difficult to address age so instead, you speak about your experience. If that doesn’t work, feel free to break glass in case of emergency and use this bad boy: “Truth be told Ms Customer, is that a rep could have a kazillion years of experience and still fall short where it counts and that’s delivering results. Maybe because of your perception of my age, that gives me added incentive to prove you wrong and deliver those results for you. Either way, it’s a chance. I suspect it’s the same chance someone took on you when you first started your career”
6) When The Older Folk Sell To Generation Y: Please forgive me for stating the painfully obvious, but Generation Y’s are rapidly moving into leadership/influencing positions. Armed with that knowledge, we had better learn how they tick, how they communicate and where they like to spend their online time. We need to start showing up in places like Linkedin, Facebook and Twitter. Why? Because at a minimum, it provides you with a free “listening station” and an incredible opportunity to learn. It helps you get and keep your finger on the pulse and most of all (if you learn how to master this space) it will get you noticed!
7) Generation Y (and this isn’t a criticism) Expects Their Career To Advance Faster Than We Did. Some look at that as a lack of patience. Once again, there’s no money in that type of critique. I see it as a sense of urgency that as a sales professional, if I can help them attain that quicker, I become more valuable. I guess your million dollar question now becomes “In what ways can I help them look like rock stars so they move to that next level quicker?”
8) They Are Less Confrontational: There’s a lot that I could say to this point but will take it in a much simpler direction. We’ve all heard the old saying that “People like people like themselves” That’s our cue to embrace our inner “its all good”. Take it down a notch or three.
9) Lectures and “When I was your age” rants: Don’t go there. I’ve been that guy too many times and it just doesn’t fly.
10) They are socially conscious and “green”. To that end, you need to be prepared to be questioned by this generation on your company’s involvement or position on green initiatives.
My amazing revelation: Once I demonstrated my willingness to embrace and understand their generation, not only was I accepted, they considered me a resource to understand my generation.
And that my friends is where we really begin to progress as an organization . . . that wonderful moment when we seek to understand, celebrate and leverage our differences!
by Paul Castain on May 5, 2010
I began my mission in the fall of 2006 high atop my Dale Carnegie vantage point in Hauppauge Long Island. My mission was clear, I was to facilitate a training session for a team at MTV. Being 20 years their senior, I hoped to play that off like an older, balder brother. Who knows, maybe I could be that good.
We started our session and I hit them with everything I had. Our dialogue transitioned to full blown lecture on how one properly communicates in the business world. I placed my soapbox firmly on the floor, climbed up and told them how wrong it was to rely on email so heavily and how text messages were just inexcusable.
Then it happened, a young woman of about 25, respectfully raised her hand and proposed that maybe the problem was not in their use of these venues, but in my generation’s need to try and change them. My cover was now blown and I kind of felt like the old lady in that commercial who says “I’ve fallen and I can’t get up”
I decided from that point on I would embrace more of a “Seek first to understand” mindset and had by far, one of the most awesome discussions I’ve ever had the privilege of facilitating. School was in session for Uncle Paul.
It’s now almost 4 years later and I’m proud to say that I’ve trained and spoken before hundreds of Generation Y’s and I’ve made them a continual study. Truth be told, my main function with the company I work for now is to make this group of young Jedi’s armed and dangerous.
Here’s what I learned:
1) Houston We Have A Freakin Problem: And the problem is this need to try and change them instead of working with the landscape we’ve been given. Sure I could insist that they must embrace the old ways, or I could enter their world and teach them how to work smarter within those parameters. I see others getting caught up in this endless criticism of this generation ranging from work ethic to attire and all points in between. Please understand something and know this will sound shallow. There’s no money in that discussion for you!
2) Respect By Virtue of Age or Experience . . . Think again sista! One thing dramatically different about this generation is that they don’t give automatic respect to those with the title, experience or dare I say their elders; they give it to those who are the contributors to the organization. The ones who earn it!
3) Because They Grew Up With Technology . . . they love innovation! Sales Managers: How can you leverage that? How can you include them in the process? It may also mean that at times they are going to be relying too much on the technology. It may even mean that they have more of a clue than you do with regard to technology and you (yes you) are clinging too much to the days of yesteryear. Sales Reps Selling To Generation Y: How can YOU leverage this with your clients?
4) The True Jedi’s Will Know How To Lead (and kick the proverbial arse) Across Multi Generations: Ladies and gentlemen, our work force is living longer and they are working longer (quite frankly because they have to). We’re already seeing a huge age range from early 20’s to 60+. In our lifetime, we WILL see that number go dramatically beyond 60. That creates a need. A need for people who have a clue in how to manage across multi generations. And there’s no need to wait for that, because the need already exists now.
5) When Generation Y’s Sell To The Older Folk: When selling to what experts call the “Oldeus Farteous” understand that you might get called out on your age. Whether that situation stresses you or not, you had better prepare for it. Suggestion: Understand that it’s always difficult to address age so instead, you speak about your experience. If that doesn’t work, feel free to break glass in case of emergency and use this bad boy: “Truth be told Ms Customer, is that a rep could have a kazillion years of experience and still fall short where it counts and that’s delivering results. Maybe because of your perception of my age, that gives me added incentive to prove you wrong and deliver those results for you. Either way, it’s a chance. I suspect it’s the same chance someone took on you when you first started your career”
6) When The Older Folk Sell To Generation Y: Please forgive me for stating the painfully obvious, but Generation Y’s are rapidly moving into leadership/influencing positions. Armed with that knowledge, we had better learn how they tick, how they communicate and where they like to spend their online time. We need to start showing up in places like Linkedin, Facebook and Twitter. Why? Because at a minimum, it provides you with a free “listening station” and an incredible opportunity to learn. It helps you get and keep your finger on the pulse and most of all (if you learn how to master this space) it will get you noticed!
7) Generation Y (and this isn’t a criticism) Expects Their Career To Advance Faster Than We Did. Some look at that as a lack of patience. Once again, there’s no money in that type of critique. I see it as a sense of urgency that as a sales professional, if I can help them attain that quicker, I become more valuable. I guess your million dollar question now becomes “In what ways can I help them look like rock stars so they move to that next level quicker?”
8) They Are Less Confrontational: There’s a lot that I could say to this point but will take it in a much simpler direction. We’ve all heard the old saying that “People like people like themselves” That’s our cue to embrace our inner “its all good”. Take it down a notch or three.
9) Lectures and “When I was your age” rants: Don’t go there. I’ve been that guy too many times and it just doesn’t fly.
10) They are socially conscious and “green”. To that end, you need to be prepared to be questioned by this generation on your company’s involvement or position on green initiatives.
My amazing revelation: Once I demonstrated my willingness to embrace and understand their generation, not only was I accepted, they considered me a resource to understand my generation.
And that my friends is where we really begin to progress as an organization . . . that wonderful moment when we seek to understand, celebrate and leverage our differences!
Thursday, March 18, 2010
Smiles, Smokes & Personal Branding! by Paul Castain
Submit for your approval 3 brands of toothpaste.
Crest: For years Crest had this commercial with the same recurring theme. A kid returns from the Dentist (alone mind you) to tell their parents that they just had this amazing check up. Whenever, I would watch those commercials 2 things would immediately come to mind:
1) Why did the kid go to the dentist alone? Nice Parenting!
2) If I use Crest I can lower the probability of cavities.
Close Up: Men and women, are shown together in various states of flirtation and ultimately, a kiss. Once again, two things come to mind.
1) I might be going out on a limb but the active ingredient seems to be sex.
2) If I brush with Close Up, I’ll have better breath and ultimately get the girl. Who knows, maybe even get to put on some Barry White music with Mrs Castain
Kids Colgate: From the name to the graphics, this one is a no brainer:
1) The active ingredient here is fun with flavors aimed at the younger demographic’s palate.
While that’s a quick synopsis of 3 brands I suppose I should mention that there are also
Extra-whitening toothpastes
Toothpastes with mouthwash,
Toothpastes for sensitive teeth,
Toothpaste made from all natural ingredients
Even toothpaste for dogs!
It should come as no shock to you that hundreds of millions of dollars has been spent in branding these products. The best part . . . It’s freakin toothpaste!
So if companies can spend all that time, effort and money branding something as insignificant as toothpaste, one needs to ask . . . How you doing with the Billion Dollar Brand Called YOU?
Some things to think about:
1) Check your “Googleability” or if you prefer . . . Go Google Yourself! Whether you take this step or not, you need to understand that your prospects and clients will do the same. Have you left a favorable footprint? Is there a footprint? What does that say about your brand? In what ways can you change/enhance that? By the way, this is how I started my Castain 2.0 journey back in November 2008. 2 results came back. I’ve changed that footprint significantly to the tune of about 20 pages of results.
2) Answer this question: What do my clients say about me behind my back? (the good, the bad and the ugly) To me, that’s one’s true brand. Not what people say to your face. Its what they say when there’s nothing to lose by being candid. The second part of this question is to answer “What do I want my clients to say about me behind my back?”
3) What is it that you do? How do you do it quicker and better? How is doing business with you less stressful, more profitable, more fun? What is your personal value proposition? Not the company induced, “Come drink the Kool Aid” value proposition, yours. If you sell widgets, how do you take your clients out of the widget business?
4) Don’t ever forget that if you can tell your story in a way that you are first to tell that type of story, you can tell it exclusively or simply tell it better, you are well on your way to being memorable.
5) If you could have any title you wanted without fear of getting fired, which title would you choose? I’ve often said that I hate being a Vice President of Business Development because its way to stuffy and corporate for my taste. I’d rather be the Vice President of Jedi Mastery or VP of Rock Star Development. Important: Once you come up with your new title, breathe the free air, enjoy the liberating feeling and go back and repeat the questions in #3. You will get different answers once you free yourself of corporate induced stuffiness.
6) Understand This Lethal Point About Branding: The most powerful connection you will ever make is on the unconscious level. The key to accessing this level of connection is through repetition. That’s what they’re doing with the toothpaste, right? How this might play out in your world. If you want to be perceived as a subject matter expert, you better do more than show up once as that expert. If you want to be perceived as impeccable in all you do, you have to do it more than once. That’s the part that if you understand it, you will smoke 99% of your competitors.
7) Understand How Your Personal Brand Is Judged: There are 6 main ways. How you look, how you act, what you say, how you say it, with whom you say it and where you say it. You could easily go back to question #2 and go through each one of these points with the question “What would others say about this?”
8) Commitment: I recently listened to an interview with J Conrad Levinson (Mr. Guerilla Marketing) where he told the story of the rebranding of Marlboro. When his team at J Walter Thompson took over the Marlboro account (I’m guessing back in the 60’s) the brand was 33rd worldwide and was perceived as a feminine brand. They decided to send photographers out to a ranch and told them simply to photograph the workers throughout the day. From that the concept of the “Marlboro Man” and “Marlboro Country” were born. The ads were a hit and people were obsessed with the “Marlboro Man”. They gave it some time and conducted new market research. It was still 33rd! For years it remained at that level in spite of this killer campaign. Fast forward to 2004 and things changed dramatically. Their research showed that 1 in every 4 packs of cigarettes purchased was now a Marlboro. The point (actually several) Do you have that same dedication and patience to develop your brand? Do you understand, clearly that this won’t happen overnight and that you are going to have to consider those branding efforts a work in progress?
And just because I tend to be a superstitious type of dude, what if your competitor not only “gets this”, but is all over this personal branding stuff while you choose to file it under “someday”?
So go reach for your favorite brand of anything today, stop and reflect on what that brand represents to you, think about all the money and resources that went into that brand.
When you are finished, roll up your sleeves and go to work on a brand with true significance . . . YOU!
http://yoursalesplaybook.com/smiles-smokes-personal-branding/
Crest: For years Crest had this commercial with the same recurring theme. A kid returns from the Dentist (alone mind you) to tell their parents that they just had this amazing check up. Whenever, I would watch those commercials 2 things would immediately come to mind:
1) Why did the kid go to the dentist alone? Nice Parenting!
2) If I use Crest I can lower the probability of cavities.
Close Up: Men and women, are shown together in various states of flirtation and ultimately, a kiss. Once again, two things come to mind.
1) I might be going out on a limb but the active ingredient seems to be sex.
2) If I brush with Close Up, I’ll have better breath and ultimately get the girl. Who knows, maybe even get to put on some Barry White music with Mrs Castain
Kids Colgate: From the name to the graphics, this one is a no brainer:
1) The active ingredient here is fun with flavors aimed at the younger demographic’s palate.
While that’s a quick synopsis of 3 brands I suppose I should mention that there are also
Extra-whitening toothpastes
Toothpastes with mouthwash,
Toothpastes for sensitive teeth,
Toothpaste made from all natural ingredients
Even toothpaste for dogs!
It should come as no shock to you that hundreds of millions of dollars has been spent in branding these products. The best part . . . It’s freakin toothpaste!
So if companies can spend all that time, effort and money branding something as insignificant as toothpaste, one needs to ask . . . How you doing with the Billion Dollar Brand Called YOU?
Some things to think about:
1) Check your “Googleability” or if you prefer . . . Go Google Yourself! Whether you take this step or not, you need to understand that your prospects and clients will do the same. Have you left a favorable footprint? Is there a footprint? What does that say about your brand? In what ways can you change/enhance that? By the way, this is how I started my Castain 2.0 journey back in November 2008. 2 results came back. I’ve changed that footprint significantly to the tune of about 20 pages of results.
2) Answer this question: What do my clients say about me behind my back? (the good, the bad and the ugly) To me, that’s one’s true brand. Not what people say to your face. Its what they say when there’s nothing to lose by being candid. The second part of this question is to answer “What do I want my clients to say about me behind my back?”
3) What is it that you do? How do you do it quicker and better? How is doing business with you less stressful, more profitable, more fun? What is your personal value proposition? Not the company induced, “Come drink the Kool Aid” value proposition, yours. If you sell widgets, how do you take your clients out of the widget business?
4) Don’t ever forget that if you can tell your story in a way that you are first to tell that type of story, you can tell it exclusively or simply tell it better, you are well on your way to being memorable.
5) If you could have any title you wanted without fear of getting fired, which title would you choose? I’ve often said that I hate being a Vice President of Business Development because its way to stuffy and corporate for my taste. I’d rather be the Vice President of Jedi Mastery or VP of Rock Star Development. Important: Once you come up with your new title, breathe the free air, enjoy the liberating feeling and go back and repeat the questions in #3. You will get different answers once you free yourself of corporate induced stuffiness.
6) Understand This Lethal Point About Branding: The most powerful connection you will ever make is on the unconscious level. The key to accessing this level of connection is through repetition. That’s what they’re doing with the toothpaste, right? How this might play out in your world. If you want to be perceived as a subject matter expert, you better do more than show up once as that expert. If you want to be perceived as impeccable in all you do, you have to do it more than once. That’s the part that if you understand it, you will smoke 99% of your competitors.
7) Understand How Your Personal Brand Is Judged: There are 6 main ways. How you look, how you act, what you say, how you say it, with whom you say it and where you say it. You could easily go back to question #2 and go through each one of these points with the question “What would others say about this?”
8) Commitment: I recently listened to an interview with J Conrad Levinson (Mr. Guerilla Marketing) where he told the story of the rebranding of Marlboro. When his team at J Walter Thompson took over the Marlboro account (I’m guessing back in the 60’s) the brand was 33rd worldwide and was perceived as a feminine brand. They decided to send photographers out to a ranch and told them simply to photograph the workers throughout the day. From that the concept of the “Marlboro Man” and “Marlboro Country” were born. The ads were a hit and people were obsessed with the “Marlboro Man”. They gave it some time and conducted new market research. It was still 33rd! For years it remained at that level in spite of this killer campaign. Fast forward to 2004 and things changed dramatically. Their research showed that 1 in every 4 packs of cigarettes purchased was now a Marlboro. The point (actually several) Do you have that same dedication and patience to develop your brand? Do you understand, clearly that this won’t happen overnight and that you are going to have to consider those branding efforts a work in progress?
And just because I tend to be a superstitious type of dude, what if your competitor not only “gets this”, but is all over this personal branding stuff while you choose to file it under “someday”?
So go reach for your favorite brand of anything today, stop and reflect on what that brand represents to you, think about all the money and resources that went into that brand.
When you are finished, roll up your sleeves and go to work on a brand with true significance . . . YOU!
http://yoursalesplaybook.com/smiles-smokes-personal-branding/
Tuesday, March 16, 2010
Who Am I?
I am your constant companion. I am your greatest helper or heaviest burden. I will push you onward or drag you down to failure. I am completely at your command. Half the things you do you might just as well turn over to me and I will be able do them quickly and correctly.
I am easily managed you must merely be firm with me. Show me exactly how you want something done and after a few lessons I will do it automatically. I am the servant of all great men; and alas, of all failures, as well those who are great, I have made great. Those who are failures, I have made failures.
I am not machine, though I work with all the precision of a machine plus the intelligence of a man You may run me for a profit or run me for ruin it makes no difference to me.
Take me, train me, be firm with me, and I will place the world at your feet. Be easy with me and I will destroy you.
WHO AM I?
I AM HABIT!
Anonymous
I am easily managed you must merely be firm with me. Show me exactly how you want something done and after a few lessons I will do it automatically. I am the servant of all great men; and alas, of all failures, as well those who are great, I have made great. Those who are failures, I have made failures.
I am not machine, though I work with all the precision of a machine plus the intelligence of a man You may run me for a profit or run me for ruin it makes no difference to me.
Take me, train me, be firm with me, and I will place the world at your feet. Be easy with me and I will destroy you.
WHO AM I?
I AM HABIT!
Anonymous
Monday, February 15, 2010
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