Archives for October 2020

Taking Responsibility Means Understanding That Your Actions Can Make a Difference

October 29, 2020 By Nagesh Belludi Leave a Comment

When problems unfold, leaders often look for ways to absolve themselves of responsibility—especially if they stand to lose face, favor, standing or will incur someone’s wrath.

Problems don’t simply just go away if un-addressed. They fester. They get worse. Then they blow up.

Taking responsibility means being there and facing the consequences, rejection, or revelation of ineptitude or weakness.

Leading authentically starts with being in charge. It refers to taking responsibility for the plans and actions that occur under your watch. (If you want to split hairs, glance at my explanation of accountability v responsibility.) Consider Captain Sullenberger, pilot of the Flight 1549 that crashed into New York City’s Hudson River. Even after he realized that the plane was in one piece after hitting the water, he worried about the difficulties that still lay ahead. The aircraft was sinking: everyone had to be evacuated quickly.

The Buck Stops with Leaders

As entrepreneur and venture capitalist Brad Feld emphasizes here, being responsible is one of the most admirable traits of an effective leader:

Many of the strong CEOs I work with owned whatever was going on at their company. There was simplicity in this—no blame, no excuses, no justification. They just took ownership.

When I step back and ponder this, the CEOs I respect the most are the ones who take responsibility for the actions of their company. Good or bad, successful or not, they don’t shirk any responsibility, blame anyone, or try to make excuses. They just own things, and if they need to be fixed, they fix them.

Idea for Impact: Taking Responsibility is Empowering

Ignoring a problem and passing blame is negligent.

The most effective leaders I’ve known have the humility and the courage to acknowledge when there’s been a mistake under their watch, avoid blaming others or the circumstances, and aspire to make amends or learn from their failures.

Often, individual action is the only real way to recognize and solve problems. Take ownership now.

‘I Told You So’

October 26, 2020 By Nagesh Belludi Leave a Comment

Something goes wrong, and your frustration is so intense that you just can’t resist blurting out, “Told ya, I saw that coming” or even “Why didn’t you listen to me?”

The phrase “I told you so” one of the least justifiable in the language. It rarely generates a positive response, and it’s unfailingly damaging to marriages, friendships, and parents’ relationships with children.

Events and premonitions thereof make perfect sense with hindsight. Your loved one already knows that you were right, and she was wrong. Going through failure is hard enough. She doesn’t need you to pour salt on her wound.

At some point, when the dust has settled, you may say carefully, “Sweetie, this stinks. That surely did not go as intended. Perhaps we shouldn’t do that again.”

It’s never okay to do the “I told you so” spiel even if you have her best interests at heart. Keep your disappointment—or delight—to yourself.

Being right about something feels so darn good, doesn’t it? But hold your tongue on gloating. Give up that attachment to the need to be correct. Let your loved one be human—let her heal, learn, grow, and evolve.

Avoiding negativity in the supportive relationship sometimes means biting your tongue and allowing the pieces to fall where they may.

Give your loved one the positive support she needs and help her cope. If you are kind, she may be more willing to listen in the future.

Idea for Impact: In relationships, a little tact and a lot of silence go a long way.

Inspirational Quotations #864

October 25, 2020 By Nagesh Belludi

Snobs talk as if they had begotten their own ancestors.
—Herbert Agar (American Journalist, Historian)

Take away love and our earth is a tomb.
—Robert Browning (English Poet)

It is far more important to me to preserve an unblemished conscience than to compass any object however great.
—William Ellery Channing (American Theologian, Poet)

A noble heart, like the sun, showeth its greatest countenance in its lowest estate.
—Philip Sidney (English Soldier, Poet, Courtier)

We would be able neither to remember nor to reflect nor to compare nor to think, indeed, we would not even be the person who we were a moment ago, if our concepts were divided among many and were not to be encountered somewhere together in their most exact combination.
—Moses Mendelssohn (German Jewish Philosopher)

Human happiness seems to consist in three ingredients; action, pleasure, and indolence. And though these ingredients ought to be mixed in different proportions, according to the disposition of the person, yet no one ingredient can be entirely wanting without destroying in some measure the relish of the whole composition.
—David Hume (Scottish Philosopher, Historian)

We all remember how many religious wars were fought for a religion of love and gentleness; how many bodies were burned alive with the genuinely kind intention of saving souls from the eternal fire of hell
—Karl Popper (Austrian-born British Philosopher)

The essence of knowledge is, having it, to apply it; not having it, to confess your ignorance.
—Confucius (Chinese Philosopher)

The most valuable of all talents is never using two words when one will do.
—Thomas Jefferson (American Head of State)

Misfortunes tell us what fortune is.
—Thomas Fuller (English Cleric, Historian)

The rich would have to eat money if the poor did not provide food.
—Russian Proverb

Can anything be sadder than work unfinished? Yes; work never begun.
—Christina Rossetti (English Poet)

Circumstances don’t make the man, they only reveal him to himself.
—Epictetus (Ancient Greek Philosopher)

The more sand that has escaped from the hourglass of our life, the clearer we should see through it.
—Jean-Paul Sartre (French Philosopher)

During times of universal deceit, telling the truth becomes a revolutionary act.
—George Orwell (English Novelist, Essayist, Journalist)

My weakness is wearing too much leopard print.
—Jackie Collins (English Romance Novelist)

Best to Cut Your Losses Early: Lessons from the Failure of Quibi

October 22, 2020 By Nagesh Belludi Leave a Comment

Streaming startup Quibi is shutting down barely six months after going live. The Wall Street Journal reports,

Founder Jeffrey Katzenberg and Chief Executive Meg Whitman decided to shut down the company in an effort to return as much capital to investors as possible instead of trying to prolong the life of the company and risk losing more money.

Quibi (short for “quick bite”) was a late entrant into a crowded marketplace, and its short-form serial format aimed at short attention spans failed to get traction with teenagers and young adults amid the pandemic. The Week was puzzled by Quibi’s decision to not allow people to watch it on their television:

Among the early criticism directed at Quibi was the fact that it was mobile only, and users couldn’t watch the app’s original shows on their TVs. This was especially problematic at a time when many people were no longer commuting to work due to the COVID-19 pandemic and were, therefore, not in need of short content to watch on the go.

At heart, Quibi was just another fast food joint with the same menu as the rest. The Guardian wondered if anyone would give Quibi the time of day:

Quibi’s content felt less revolutionary than underbaked, slapdash concepts sledgehammering the viewer with abrupt hits of celebrity. The overarching theme was of celebrity names without thinking through what they would be doing that is interesting or novel. It offered little marginal benefit to the free celebrity fare on Instagram, Twitter, YouTube, or TikTok. Why pay for Quibi, when “if you want snackable Chrissy Teigen content, her social media provides that for you without this sort of hackneyed, first-thought courtroom set-up.”

Quibi’s only bona fide USP was its potential to piggybank on Katzenberg’s deep connections in the Hollywood establishment for content.

Idea for Impact: Investing money, energy, and time into something that’s not working is dreadful to admit, but it’s essential to come to terms with things that don’t go as planned, and your high hopes are dashed. Don’t hold on to an idea that doesn’t pay off soon enough. Best to cut your losses early—you’ll have the least sunk costs and the fewest emotional attachments.

Eat That Frog! // Summary of Brian Tracy’s Time Management Bestseller

October 19, 2020 By Nagesh Belludi Leave a Comment

Self-help megastar Brian Tracy’s Eat That Frog! (2001) focuses on how to put you—not the incessant flow of attention-demands that inundate you—in the driver’s seat. The most effective time management is staying aware of what genuinely deserves your attention.

Tracy’s central premise is that to be more time-effective, you must discover the one momentous task—the most dreaded task or the “frog”—that you need to do. Take steps to do this task right away with the utmost urgency and attention, even if you don’t feel like doing it. “If you have to eat a live frog at all, it doesn’t pay to sit and look at it for very long.”

Suppose you start your day by “eating a live frog” (a memorable Mark Twain metaphor, but has an even more extended history.) In that case, you know that the most unpleasant part of the day is behind you.

“Set the table.” People fail because they aren’t clear about their goals. Decide exactly what it is that you must achieve. Write down goals and objectives. Plan every day in advance. Every minute spent in planning can save 5-10 minutes in execution.
Embrace the Pareto Principle. 20% of activities account for 80% of the results. Always concentrate efforts on those top 20%. Pick the hardest, but most important and meaningful tasks first. “Successful people are those who are willing to delay gratification and make sacrifices in the short term so that they can enjoy far greater rewards in the long-term.”
Adopt the ABCDE method. Prioritize tasks from A (most significant) to E (least significant) and work on the As. Focus on key result areas. Delegate the D tasks and get rid of the E tasks.
Obey the “Law of Forced Efficiency.” Lack of clarity can be a killer because it impairs action, and action is the secret to success. “There is never enough time for everything, but there is always enough time to do the most important things. What are they?”
Identify your key constraints. Your most significant limitation is an anchor that keeps you from sailing on with your strengths. “Determine the bottlenecks or choke points, internally or externally, that set the speed at which you achieve your most important goals and focus on alleviating them.”
Let deadlines motivate you. “Imagine that you have to leave town for a month and work as if you had to get all your major tasks completed before you left.” Develop a sense of urgency: Make a habit of moving fast on your critical tasks.
Manage for personal energy and attention. “Identify the periods of highest mental and physical energy and structure the most important and demanding tasks around those times.” Also, “Organize your days around large blocks of time where you can concentrate for extended periods on your most important tasks.”
Motivate yourself into action. Focus on the solution rather than the problem. Always be optimistic and constructive. “Most of your emotions, positive or negative, are determined by how you talk to yourself on a minute-to-minute basis. It is not what happens to you but the way you interpret the things that are happening to you that determines how you feel. Your version of events largely determines whether these events motivate or de-motivate you, whether they were energized or de-energize you.”
Single-handle every task. “The ability to concentrate single-mindedly on your most important task, to do it well and to finish it completely, is the key to great success.”
Success requires self-discipline, self-mastery, and self-control. These are the building blocks of character and high performance.

Recommendation: Speed-read Brian Tracy’s Eat That Frog!: 21 Great Ways to Stop Procrastinating and Get More Done in Less Time. This bestselling tome offers practical steps for overcoming procrastination with focused determination. Yes, much of the book is trite, and Tracy is excessively repetitive. However, Eat That Frog! is a useful synthesis of such simple disciplines as determining priorities, delegating and eliminating some tasks, knowing what’s okay to procrastinate about, and getting it all done.

Inspirational Quotations #863

October 18, 2020 By Nagesh Belludi

When meditation is mastered, the mind is unwavering like the flame of a lamp in a windless place.
—The Bhagavad Gita (Hindu Scripture)

It’s nothing to be born ugly. Sensibly, the ugly woman comes to terms with her ugliness and exploits it as a grace of nature. To become ugly means the beginning of a calamity, self-willed most of the time.
—Colette (French Novelist, Performer)

Simplicity and naturalness are the truest marks of distinction.
—W. Somerset Maugham (British Novelist)

Each blade of grass has its spot on earth whence it draws its life, its strength; and so is man rooted to the land from which he draws his faith together with his life.
—Joseph Conrad (Polish-born British Novelist)

I want, by understanding myself, to understand others. I want to be all that I am capable of becoming.
—Katherine Mansfield (British Author)

I happen to feel that the degree of a person’s intelligence is directly reflected by the number of conflicting attitudes she can bring to bear on the same topic.
—Lisa Alther (American Novelist)

The wrinkles of the heart are more indelible than those of the brow.
—Dorothee Luzy Dotinville (French Dancer, Actress)

Just as a picture is drawn by an artist, surroundings are created by the activities of the mind.
—Buddhist Teaching

Evil acts of the past are never rectified by evil acts of the present.
—Lyndon B. Johnson (American Head of State)

Tomorrow is always fresh, with no mistakes in it.
—Lucy Maud Montgomery (Canadian Novelist, Children’s Writer)

Discipline must come through liberty. . . . We do not consider an individual disciplined only when he has been rendered as artificially silent as a mute and as immovable as a paralytic. He is an individual annihilated, not disciplined.
—Maria Montessori (Italian Physician, Educator)

If one understands eternity as timelessness, and not as an unending timespan, then whoever lives in the present lives for all time.
—Ludwig Wittgenstein (Austrian-born British Philosopher)

Let a man take time enough for the most trival deed, though it be but the paring of his nails. The buds swell imperceptibly, without hurry or confusion, as if the short spring days were an eternity.
—Henry David Thoreau (American Philosopher)

It’s a big world. You can loudly leave out 99% of it. People in that 1% will come to you because you have shown how much you value them.
—Derek Sivers (American Entrepreneur)

Never Cast a Blind Aye

October 17, 2020 By Nagesh Belludi Leave a Comment

Rep. Tom Moore Jr. (1918–2017) of the Texas House of Representatives was dismayed at how often his legislative colleagues in the Texas House of Representatives passed bills without reading and understanding them. For an April Fools’ Day prank in 1971, he sponsored this resolution honoring Albert de Salvo:

This compassionate gentleman’s dedication and devotion to his work has enabled the weak and the lonely throughout the nation to achieve and maintain a new degree of concern for their future. He has been officially recognized by the state of Massachusetts for his noted activities and unconventional techniques involving population control and applied psychology.

The resolution passed unanimously.

Albert de Salvo was actually the Massachusetts serial killer known as the “Boston Strangler.”

Having made his point, Rep. Moore withdrew the resolution.

Idea for Impact: Don’t endorse anything you haven’t read and understood thoroughly. Abstention, even denial, is much preferable to a blind aye!

Don’t Be Friends with Your Boss

October 16, 2020 By Nagesh Belludi Leave a Comment

Develop a cordial, constructive, and trusting relationship with your boss. But don’t extend that connection into a chummy friendship.

A boss-employee friendship comes with complications and tensions that don’t exist in other relationships. The boundaries in friendships are softer and more diffuse. In a boss-employee relationship, the boundaries are more pronounced, and rightly so.

When you’ve got a great rapport that comes with a friendship, it’s easy to start expecting to be treated a bit better than everyone else on your team. You’ll be disappointed when some special consideration—a plump assignment or a flexible vacation schedule—doesn’t come your way. Your boss will expect you to abide by the same standards and rules as everyone else.

You also have to be more vigilant about how your friendship appears to other people.

Idea for Impact: Boss first, friend second. Don’t mix the two. Sure, be friendly with your boss, but don’t expect to be treated as a friend.

The Waterline Principle: How Much Risk Can You Tolerate?

October 15, 2020 By Nagesh Belludi 1 Comment

American engineer and entrepreneur Wilbert L. “Bill” Gore (1912–86) was the founder (with wife Genevieve (Vieve)) of W. L. Gore & Associates, the maker of such innovative products as Gore-Tex fabrics, Elixir guitar strings, and a variety of medical products.

Gore’s open and creative workplace emphasized autonomy, fairness, commitment, and experimentation. He instituted a mental model for risk-tolerance called the “Waterline Principle.”

Gore compared the level of allowable risk to the waterline on a boat.

Sanction risks above the waterline since they wouldn’t sink the boat—you have ample autonomy above the waterline. If a decision goes bad and produces a hole in the side of the boat above the waterline, you can fix the hole, learn from the experience, and carry on.
Risks that fell below the waterline, in contrast, can blow a hole that can sink the boat. Below-the-waterline risks need prior approval from the “captain.” Your team can be prepared for such risks, investigate potential solutions, or buy appropriate insurance coverage.

Commenting about Bill Gore and his Waterline Principle, business consultant Jim Collins noted in his How the Mighty Fall (2009,)

When making risky bets and decisions in the face of ambiguous or conflicting data, ask three questions:

What’s the upside, if events turn out well?

What’s the downside, if events go very badly?

Can you live with the downside? Truly?

The Waterline Principle encourages prudent experimentation and conscientious risk-taking by lowering the risk waterline.

Idea for Impact: Risk analysis and risk reduction should be one of the primary goals of any intellectual process. Invite your team to identify risks that can sink the boat and those that can cause survivable damages.

Avoid Being the Low-Priced Competitor

October 14, 2020 By Nagesh Belludi Leave a Comment

In determining how much you’ll charge for your products and services, explore the “price umbrella”—how others are charging for competitive or comparable products.

The key to pricing is knowing how much your service is worth for your client. Charge too little, and you’re short-changing yourself and making your client speculate, “If she’s decent, why does she charge so little?”

Avoid being a low-price competitor. It’s a terrible habit. Don’t announce, “I’m new. I’m trying to get established. Therefore, I’m offering my service for less than the existing players. Please buy from me.”

Jim Price, an entrepreneurship lecturer at the University of Michigan-Ann Arbor and author of The Launch Lens: 20 Questions Every Entrepreneur Should Ask (2018,) calls this “apologetic pricing.”

Instead, consider the “proud pricing” approach: “We’re launching this business because we firmly believe in our unique value proposition; we look forward to explaining that to customers and charging a premium price for a superior product.”

Positioning yourself as the low-price market offering is a competitive strategy that tends to only work for large, undifferentiated retailers and similar businesses, and it is a poor prescription for entrepreneurial startup success.

Being the low-priced competitor tends to require massive operational and financial scale and often results in an undifferentiated product or service offering and a business with very narrow profit margins.

Idea for Impact: Don’t get stuck in the race to the bottom to be cheaper. Marketing expert Seth Godin has reminded, “Cheaper is the last refuge of the marketer unable to invent a better product and tell a better story.”

Archives for October 2020

The Buck Stops with Leaders

Idea for Impact: Taking Responsibility is Empowering

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