I think that it is reasonable to say that younger people (generally 35 and under) grasp things more quickly than older people (your guess). While that may be true, it is also true that there is no substitute for wisdom.
While younger people are quick to grasp technology i.e. cell phones, computer technology, fashion, and even lingo; this does not equal wisdom. Likewise, just because a person (over let's say 50) does not easily adapt to technology like video games, computer technology, and lingo; that does not mean thay they are irrelevant.
We cannot and should not establish relevance of a person by their modernization. For example, if a person does not adapt to Social Media or current entertainment, it does not mean that they are "out of it." Rather, we should look at their level of wisdom. How have they taken what thy have lived and learned and applied it to their daily lives and shared it with others.
I think that history shows that over time, most people adapt to current technology and living environment. I do not think that history shows that wisdom is a given.
Saturday, March 31, 2012
Thursday, March 29, 2012
Manufacturing and the US Economy
OK, the revised GDP for the US economy for Q$ 2011 is now 3%. The manufacturing index for February stands at 52+. I have heard projections that unenployement could be headed to as low as 6% in near times.
Things look good for the US, regardless of your political point of view. I continue to have many conversations with manufacturers of fluid power components in the US and they tell me that the market for their products remain strong. The forecast for the second half of 2012 if for an increased growth rate for fluid power sales.
What does this say for the manufacturing outlook for the US? It looks very positive to me. With "smart manufacturing" on the rise, the labor advantage of low-cost producing countries is being neutralized.
I am very positive on our future here in the US for manufacturing. What do you think?
Things look good for the US, regardless of your political point of view. I continue to have many conversations with manufacturers of fluid power components in the US and they tell me that the market for their products remain strong. The forecast for the second half of 2012 if for an increased growth rate for fluid power sales.
What does this say for the manufacturing outlook for the US? It looks very positive to me. With "smart manufacturing" on the rise, the labor advantage of low-cost producing countries is being neutralized.
I am very positive on our future here in the US for manufacturing. What do you think?
Wednesday, March 28, 2012
Winning in small increments
Based on the concept expressed in the book, Great By Choice by Jim Collins and Morten T. Hansen, I believe that a big factor in success is consistency. A commitment to daily progress is essential to continued success in business and in your personal life.
The concept that I am speaking of is the 20 Mile March idea that a business, or an individual, must make a commitment to win in small increments on a very consisten basis. In other words, don't rest after a giant leap by saying well we will make up for it because we always do.
In a similar way on the personal side, consider diet and exercise. It is kind of like eating big meals because you missed breakfast or lunch. Or exercising two hours today because I will miss the next two days or the last two days. I don't think this works.
Consistency of accomplishing daily goals leads to success in whatever you are trying to accomplish, business or personal.
The concept that I am speaking of is the 20 Mile March idea that a business, or an individual, must make a commitment to win in small increments on a very consisten basis. In other words, don't rest after a giant leap by saying well we will make up for it because we always do.
In a similar way on the personal side, consider diet and exercise. It is kind of like eating big meals because you missed breakfast or lunch. Or exercising two hours today because I will miss the next two days or the last two days. I don't think this works.
Consistency of accomplishing daily goals leads to success in whatever you are trying to accomplish, business or personal.
Tuesday, March 27, 2012
Knowing your market
No matter what business you are in, it is essential that you know your market. If you are in sales, you need to know what your customers are interested in and capable of buying. If service is your business, it is necessary to know what services your customers want and can afford.
It is not enough to simply state your goals at the beginning of the year claiming that you will increase sales by 10% or 20% without a roadmap of where the sales will be because of the needs of your customers. Don't plan to sell a $20,000 product or service to customers that are only capable of buying $5,000 things.
If you are a manager of an organization or a teacher, the same rules apply. You must know your market and know what they want, need, and are capable of acquiring. Then and only then can you set about achieving your goals.
I would call this market intelligence and this kind of information needs to be observed, recorded, and passed on to other members of your organization. Your marketing plan, sales plan, and management plan must be based on the knowledge of your market.
It is not enough to simply state your goals at the beginning of the year claiming that you will increase sales by 10% or 20% without a roadmap of where the sales will be because of the needs of your customers. Don't plan to sell a $20,000 product or service to customers that are only capable of buying $5,000 things.
If you are a manager of an organization or a teacher, the same rules apply. You must know your market and know what they want, need, and are capable of acquiring. Then and only then can you set about achieving your goals.
I would call this market intelligence and this kind of information needs to be observed, recorded, and passed on to other members of your organization. Your marketing plan, sales plan, and management plan must be based on the knowledge of your market.
Monday, March 26, 2012
From a Business Perspective
I have learned many things during my 30-plus years in private enterprise aka business. One important lesson is that it takes a business perspective to run a business.
In its simplest formula, you have to ask, how much revenue will be make at this enterprise and what will it cost us to do it. The difference is what we commonly refer to as EBITDA, or earnings, or -simply stated - profit.
Without profit, you really don't have a business enterprise, you just have a activity. I have had many mentors actually in my business career but the best one is probably the one who goes by the name Common Sense. After all, we do live in a capitalist free enterprise system - a good one too - and the rules are fairly simple. Make a profit.
Making a profit, while sometimes it costs jobs, is also a provider of jobs. Maintaining a profitable enterprise does preserve some jobs. It also preserves your business.
In its simplest formula, you have to ask, how much revenue will be make at this enterprise and what will it cost us to do it. The difference is what we commonly refer to as EBITDA, or earnings, or -simply stated - profit.
Without profit, you really don't have a business enterprise, you just have a activity. I have had many mentors actually in my business career but the best one is probably the one who goes by the name Common Sense. After all, we do live in a capitalist free enterprise system - a good one too - and the rules are fairly simple. Make a profit.
Making a profit, while sometimes it costs jobs, is also a provider of jobs. Maintaining a profitable enterprise does preserve some jobs. It also preserves your business.
Friday, March 23, 2012
20 Mile Marches
Fanatic discipline sounds kind of bad. In the book Great By Choice by Jim Collins, co-author of Good to Great, fanatic discipline is one of the foundations of a sustainable great companies.
But, it is good in the context of a 20 Mile March. This is an anaolgy of a walking trip from San Diego to Maine by taking 20 miles per day and toleratiing no less but venturing no more each day. If a company sets a 20 Mile March goal for the performance of their company and tolerate no less even in difficult economic times, then they have an excellent opportunity to become a 10Xer, a high performer in this book's description.
If a company or organization can set an attainable goal for every year, do everything in their power to reach it and never rest until they get there, this is a fanatic discipline, one that leads to financial success.
More to come.
But, it is good in the context of a 20 Mile March. This is an anaolgy of a walking trip from San Diego to Maine by taking 20 miles per day and toleratiing no less but venturing no more each day. If a company sets a 20 Mile March goal for the performance of their company and tolerate no less even in difficult economic times, then they have an excellent opportunity to become a 10Xer, a high performer in this book's description.
If a company or organization can set an attainable goal for every year, do everything in their power to reach it and never rest until they get there, this is a fanatic discipline, one that leads to financial success.
More to come.
Keep on learning
In my study of sell-improvement ideas and concepts, one theme that is clearly obvious is that continuous learning is essential in both your professional life and personal life. One example for me is that I knew that I needed to learn how to use social media because it is only growing and expanding as a communication source.
Another technology that has become so prevelant is the usage of tablet devices. I have been using an IPad for about three weeks and I will say that it is a game changer. The laptop was nice but the tablet has replaced it.
Adapting to technology is part of continuous learning and this is why I reccommend it.
Another technology that has become so prevelant is the usage of tablet devices. I have been using an IPad for about three weeks and I will say that it is a game changer. The laptop was nice but the tablet has replaced it.
Adapting to technology is part of continuous learning and this is why I reccommend it.
Wednesday, March 21, 2012
Great by Choice by Jim Collins
Ever since I read Good to Great by Jim Collins and Jerry Porras several years ago, I have commented that it is the best business book that I have every read, and I mean it. In this book, there are many key strategic business concepts explained.
I specifically remember Getting the Right People on the Bus, The Stockdale Paradox, Level 5 Leadership, and The Hedgehog Theory. I have thought about and tried to apply these concepts ever since reading (and listening to) the book. Now I am reading Great by Choice (and on my IPad of all things) and I love the book so far and I love reading on the IPad.
Early in the book, three new concepts (new to me at least) are introduced and they are Productive Paranoia, Empirical Creativity, and Fanatic Discipline. In this book, similar to Good to Great, there are comparisons between very successful companies referred to as 10Xers and their comparison companies.
I will be adding more later.
I specifically remember Getting the Right People on the Bus, The Stockdale Paradox, Level 5 Leadership, and The Hedgehog Theory. I have thought about and tried to apply these concepts ever since reading (and listening to) the book. Now I am reading Great by Choice (and on my IPad of all things) and I love the book so far and I love reading on the IPad.
Early in the book, three new concepts (new to me at least) are introduced and they are Productive Paranoia, Empirical Creativity, and Fanatic Discipline. In this book, similar to Good to Great, there are comparisons between very successful companies referred to as 10Xers and their comparison companies.
I will be adding more later.
Thursday, March 15, 2012
The IPad is a really handy tool
I am fortunate to have a new IPad. I am learning more about it every day as it is a very useful tool. I am an active user of Social Media for business and this new tool allows me to have increased access to Twitter, Facebook, and this blog. In fact I am entering this post on my IPad.
Here is a very amateur video that I took with the IPad. While it is not good quality content, it demonstrates the ease of use.
http://www.youtube.com/watch?v=uD8KFsAtC1o
I hope to continue finding more ways to be productive with my new IPad. I recommend giving it a try.
Here is a very amateur video that I took with the IPad. While it is not good quality content, it demonstrates the ease of use.
http://www.youtube.com/watch?v=uD8KFsAtC1o
I hope to continue finding more ways to be productive with my new IPad. I recommend giving it a try.
Saturday, March 3, 2012
Communication continues to change
I have heard it said that we are moving to a post-PC world. The argument can be made that tablets have become more popular than PCs.
That may not be the case yet. However, the tablet device with apps sure make it easy to access informaton and locations on the web that previously could only be accessed through the internet.
It seems to be moving in that direction and the continual improvement of the IPad really helps. That is where this message is being input.
That may not be the case yet. However, the tablet device with apps sure make it easy to access informaton and locations on the web that previously could only be accessed through the internet.
It seems to be moving in that direction and the continual improvement of the IPad really helps. That is where this message is being input.
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