The year I hired my first employee my net income—not the gross income, but what I actually took out of the business—doubled and I was happier. I enjoyed my work more because the tedious, pain in the butt jobs were done by someone else. This freed up my creative thinking time to work on larger, more complex files. The mental stimulation and the freedom from the emotional angst of sweating the small stuff made me a much better advisor to my clients.
If you are like most people, learning that 62% of employees who work in bars and restaurants do not wash their hands would make you feel uncomfortable. It is estimated that sixty thousand people are hospitalized as result of food-borne diseases that could be prevented with improved hand hygiene practices. Changing the behavior of restaurant employees and health care practitioners involves innovation, a specific kind of innovation. It involves innovation that addresses changes in social behavior – innovation that is social.
CEO Alex Behring, was put in place by a private equity firm that bought a portion of a government run railroad network, America Latina Logistica (ALL). He and his team developed four prioritizing guidelines for ranking projects and ideas to be implemented. Within three years, ALL had increased revenue by 50% and tripled operating cash flow, while maintaining the best safety record of all the freight lines in the country.
Recall a time when you have attended a presentation and thought “I get that.” Then, after hearing the speaker, you try to rely the content to a colleague or a friend only to realize that you struggle to articulate the full message. That moment where you struggled is usually a sign that you have not mastered the material.
In 1911, two explorers, Amundsen and Scott, embarked on a race against each other to become the first known human being to set foot upon the southernmost point of Earth. It was the age of Antarctic exploration, as the South Pole represented one of the last uncharted areas of the world. As it turned out, Amundsen and Scott took entirely different approaches to the very same challenge.
Over the last 30 years there have been three paradigms that have dominated in financial services: sales, marketing and business. A paradigm does two things: 1. It establishes the boundaries within which we operate; and 2. It defines the rules for success. Understanding each of these paradigms is integral to your success.