The numbers are in, and people lack confidence. Not all people, but enough of them to slow consumer spending and business investment. Lack of confidence changes behavior. Confident consumers spend more money because they believe the future will be positive. Confident sales people make more sales because they trust their ability and the value of their product. Confident companies invest in innovation, talent development, and new equipment because they believe that they will be rewarded for their investment.
Your value in the marketplace is in direct proportion to the importance and complexity of the problems you can solve and solutions you can provide to your customers. Put another way, you can’t earn a brain surgeon’s salary with a talent level that qualifies you to be a convenience store clerk.
“People do things for their own reasons, not for our reasons.” – William Marston My seat mate on a recent flight owns a successful small business. It is growing in a down economy because he has a product that saves his customers significant money and increases employee productivity. He tells [...]
The U.S. economy is in a self-fulfilling death spiral propelled by mistrust. There is a good chance that the same thing can be said of your industry, your employer, and your career. Growth requires investment, and that requires confidence. You can’t cut your way to sustainable growth. When trust is absent, people naturally protect their immediate self-interest. This will occur even if it leads to their long-term individual and collective undoing.
Someone recently asked me why I use so many examples from political leaders when discussing effective leadership. Isn’t it obvious? Every week elected leaders and candidates give us something that is simply too good to ignore. This week’s example is the brou ha ha over President Obama’s bus trip through the heartland. In case you missed it, a number of people were upset that the President left his “real job” in Washington to ride through the middle of the U.S. on a new tricked out bus while conducting town hall meetings and visiting the Fair. To the President’s detractors, this was a blatantly political act designed to take the focus off of the two leading Republican presidential candidates, Congresswoman Michele Bachmann and Governor Rick Perry. Bachmann and Perry were also taking time away from their “real jobs” to ride through America’s heartland on tricked out buses attending town hall meetings and Fairs. The only apparent difference is that they were asking people to give them a new job while on the clock at their current job while the President was accused of asking people if he could keep his current job.
Dishonesty is not new, but let’s be honest—our society has raised the rationalization of dishonesty to an art form. When it comes to the truth, we embellish, expand, enrich, soften, shave, stretch, and withhold. We misspeak, pretend, bend, and improve. We are guilty of mistakes, misjudgment, and truthful hyperbole. We exaggerate, spin, filter, and inflate. However, we rarely—or perhaps even never—believe that we are guilty of dishonesty.
What’s not to like? Millions of like-minded people promoting limited federal government, individual freedoms, personal responsibility, free markets, and a return of political power to the states and the people. How could anyone argue that the Tea Party is a bad thing? Oh wait! That can’t be right. The Tea Party is actually millions of small-minded people who engage in racist behaviors and want to take away the power of the federal government to set policy and help society by cutting the funding to every social program that they don’t like. So which is it? The answer is, “It depends on your point of view.”
Timothy Geithner must go for two reasons: (1) he’s expendable: and (2) he has become a distraction. Geithner didn’t vote on a single debt proposal, and yet he played a significant role in the crisis. This is what happens when coaches are fired. The coach isn’t on the field making the plays, and you would think that players would be committed enough to play hard for the common good. But when you can’t fire the team, you often fire the coach. You can’t fire an elected official, and the public and financial markets want someone held accountable. It is unfortunate and perhaps even a little unfair. Sorry Tim, you need to go.
“We don’t trust them!” This phrase has become synonymous with a prevalent, if not majority, response when people are asked about their leader’s ability to affect positive change. Almost continuous rounds of cost-cutting; feelings that others are in control of decisions that affect your life; and a general fear that [...]
The trials of former Illinois Governor Rod Blagojevich and disgraced self-help guru James Arthur Ray both ended in guilty verdicts. Blagojevich was found guilty on 17 of 20 counts of corruption. Ray was found guilty of three counts of negligent homicide from deaths in a sweat lodge ceremony. And though some would argue that the verdicts in both cases were never in doubt, the results could have gone either way. Here are three lessons leaders can learn from these two seemingly unrelated cases: