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Ideas for Impact

Does the Consensus Speak For You?

October 9, 2015 By Nagesh Belludi 2 Comments


Charles Darwin Skirted the Danger That Is Public Scorn

Charles Darwin’s fear of disapproval almost pushed him into oblivion. Fear of others’ judgments just about forced Darwin to miss the title of the father of evolution.

For over a decade, while Darwin (1809–1882) compiled a vast body of evidence in support of evolution, he suffered crippling anxiety whenever he considered publishing his theories. His principles of evolution by natural selection directly contrasted with the dominant views on the origin of life per Christian theology.

Darwin feared that publishing his views on evolution would affect his standing among his Victorian peers and with his outstandingly pious wife, Emma Darwin. To his botanist friend Joseph D. Hooker, Charles Darwin wrote, “it is like confessing a murder.”

Only before fellow British naturalist and anthropologist Alfred Russel Wallace (1823–1913) published his independent conclusions about evolution through natural selection did Darwin give up his fear of non-conformity. In 1889, he published his seminal “On the Origin of Species”. Darwin thus secured his place as one of most influential persons in human history by a slender lead.

To Conform Is to Be Treated as “One Of”

Our social and professional lives are brimming with rituals, customs, norms, rubrics, rules, procedures, and guidelines that we are expected to observe. There is a clear benefit to be gained from this conformity: when we follow the structures imposed on us, we fit in.

While conformity is often important to group cohesiveness and social acceptance, when conformity becomes unquestioning, we are vulnerable to groupthink. Groupthink creates a powerful pattern of conceptualizing, thinking, and living that disregards alternative rubrics and ignores alternate attitudes and behaviors.

Don’t Passively Absorb Other’s Ideals

Nonconformance to social and organizational norms (engaging in deviant attitudes and behavior) can be problematic. As individuals, we risk being shut out, excluded, and disregarded. Possessing a life-philosophy and mindset that run counter to our peers and wider community can indeed be troubling. Therefore, the pressure to conform dominates our everyday lives. Too often, we silently bear the inconveniences of adherence and sacrificing our individuality.

In a 2001 interview with Charlie Rose discussing “Letters to a Young Contrarian”, author Christopher Hitchens, the outspoken critic of theocracy and religion and arguably the most masterful rhetorician of our times, said the following about being a contrarian:

'Letters to a Young Contrarian' by Christopher Hitchens (ISBN 0465030335) It’s not for everybody. Not everyone wants to always be an outcast or out of step or against the stream. But if you do feel that the consensus doesn’t speak for you, if there’s something about you that makes you feel that it would be worth being unpopular or marginal for the chance to lead your own life and have a life instead of a career or a job, then I can promise you it is worthwhile, yes.

In the same vein, Apple’s Steve Jobs said in his famous 2005 commencement address at Stanford,

Don’t be trapped by dogma which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition.

Idea for Impact: Shun Synthetic Conformity

Where practically possible, shun synthetic conformity. Question the authorities. Never feel content with the limits of your mind. Think independently. Form your own opinions. Engage your knowledge and your wisdom to discover your uniqueness. Exercise your freedom to determine your own experience in life instead of having it imposed by someone else. As Eleanor Roosevelt said in “You Learn by Living”, “When you adopt the standards and the values of someone else or a community or a pressure group, you surrender your own integrity. You become, to the extent of your surrender, less of a human being.”

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  5. Care Less for What Other People Think

Filed Under: Belief and Spirituality, Great Personalities, Mental Models, Sharpening Your Skills Tagged With: Attitudes, Confidence, Conviction, Parables, Philosophy, Religiosity, Wisdom

The Truth Can Be Bitterer than a Sweet Illusion

October 6, 2015 By Nagesh Belludi Leave a Comment

Bitter Pill - The truth can be bitterer than a sweet illusion

In 1998, as CEO of 1-800-Flowers.com, Jim McCann could not bring himself to let one of his senior executives go. McCann and the rest of his leadership team understood that this senior executive was neither right for the job nor performing well.

For McCann, the biggest hindrance was that he was friends with this executive and had spent time with his family. McCann agonized over being heartless to a friend and couldn’t bring himself to dismiss the executive.

Unexpectedly, McCann met General Electric’s CEO Jack Welch at a dinner party and discussed this dilemma. Welch advised, “When was the last time anyone said, ‘I wish I had waited six months longer to fire that guy?’ Always err on the side of speed.”

Urged by Welch’s counsel, McCann deftly dealt with the situation. Initially, McCann felt that being tough was unjustifiable and was pained by the loss of a friendship. He was hurt but relieved because firing the executive was the right decision for everyone.

On a happier note, the former executive soon got a new job that better suited his background. Their friendship stood the test of time and they eventually made up.

Firing is awful—indeed, it’s the most difficult thing managers have to do, especially for those who encourage camaraderie and treasure loyalty. As in McCann’s case, if you think an employee isn’t up to par and you may fire him/her within the next year, it’s always better for management, the employee in question, and other employees to take the right actions promptly.

Idea for Impact: Don’t Be Conflict-Avoidant

Confront the Bitter Truth The truth is that the truth hurts sometimes. Even if the truth can be bitterer than a sweet illusion, delaying action will only make things harder.

Making the right decision and taking the action may involve unpleasant confrontations. Though conflict can be emotionally distressing, being decisive and doing what’s best eventually works out well for everyone.

Instead of being hyperconscious of other’s possible judgments and avoiding conflict, do difficult things as soon as practically possible.

When dealing with difficulties involving others, there is nothing more insidious than unresolved conflict and inaction. Read “Five Dysfunctions of a Team” (by Patrick Lencioni) to understand how to engage in conflict in a way that nurtures (rather than harms) relationships. Also, read “Crucial Conversations” (by Kerry Patterson, et al.) on how to conduct effective discussions by stating the facts, speculating possible remedies, and then skillfully leading the other person to a course of action. Stick with facts to reduce defensiveness. Have the other person develop and commit to a course of action on his/her own.

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Filed Under: Business Stories, Leading Teams, Mental Models Tagged With: Attitudes, Conflict, Decision-Making, Discipline, Leadership Lessons, Philosophy, Procrastination, Wisdom

Inspirational Quotations #600

October 4, 2015 By Nagesh Belludi Leave a Comment

What a man wants to do he generally can do, if he wants to badly enough.
—Louis L’Amour

Age does not make us childish, as some say; it finds us true children.
—Johann Wolfgang von Goethe (German Poet)

Stop judging so that you will not be judged. Otherwise, you will be judged by the same standard you use to judge others. The standards you use for others will be applied to you.
—The Holy Bible (Scripture in the Christian Faith)

What is necessary to change a person is to change his awareness of himself.
—Abraham Maslow (American Psychologist)

Faith is the pierless bridge supporting what we see unto the scene that we do not.
—Emily Dickinson (American Poet)

Our real blessings often appear to us in the shape of pains, losses, and disappointments; but let us have patience, and we soon shall see them in their proper figures.
—Joseph Addison (English Essayist)

It is the business of the future to be dangerous…. The major advances in civilization are processes that all but wreck the societies in which they occur.
—Alfred North Whitehead (English Mathematician)

Fair and softly goes far.
—Miguel de Cervantes (Spanish Novelist)

Indulge in procrastination, and in time you will come to this, that because a thing ought to be done, therefore you can’t do it.
—Charles Buxton

There is change in all things. You yourself are subject to continual change and some decay, and this is common to the entire universe.
—Marcus Aurelius Antoninus Augustus

Men shrink less from offending one who inspires love than one who inspires fear.
—Niccolo Machiavelli (Florentine Political Philosopher)

Filed Under: Inspirational Quotations

How to Email Busy People

October 2, 2015 By Nagesh Belludi Leave a Comment

When you ask something of somebody, one of the cardinal rules of the “art of the ask” is to make it as convenient as possible for that person to respond to your request. This is especially true if you’re asking something of a busy person.

When you email busy people proposing a meeting, don’t give them a range of options with the intention of being considerate of their busyness.

  • Don’t be longwinded: “I’m available any time on Tuesday morning and Wednesday afternoon except from 3:00 PM to 4:00 PM when I have an appointment with my dentist. Let me know when works best for you.”
  • Don’t give them a whole bunch of options (“… any time this week”) or, worse yet, don’t ask them to leaf through their calendar and suggest a time (“I know you’re busy. Let me know when you want to meet.”)

Instead, keep your ask as brief and simple as possible. Make it easy for busy people to respond by offering few choices: “How about 9:00 AM on Tuesday?” If you know their Tuesdays or mornings tend to be busy, you may propose one alternative: “Are you available on Tuesday at 10:00 AM or on Wednesday at 3:00 PM?” If they’d like to meet with you, they’ll glance at their calendar and say “OK.” If neither of your proposed times works, they’ll suggest another time.

Idea for Impact: Avoid imposing more busy work on already busy people.

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Filed Under: Effective Communication Tagged With: Communication, Email, Networking, Time Management

Reframe Your Thinking, Get Better Answers: What the Stoics Taught

September 29, 2015 By Nagesh Belludi Leave a Comment

The solution to many a difficult problem can be found merely by reframing the problem, thereby changing or adjusting your perception of the issue.

Reframing is a very effective technique to shift your view of a specific problem, event, or person. When you approach a situation from another perspective, you are likely to reevaluate your intentions and find alternative, acceptable solutions to your situations.

Reframing helps in two ways:

  • Reframing allows you to consider a problem within a positive—rather than a negative—context. For example, if you’re trying out a diet, you can reframe it by asking yourself “What are some foods I like that I should eat more of? What new foods can I experiment with?” rather than wondering, “What foods must I give up?” Reframing can help turn a problem into an opportunity, a weakness into a strength, an impossibility into a work-around, and a conflict into a mere lack of understanding.
  • Reframing can also broaden a problem’s context, thus helping you recognize its systemic contributors. In other words, by reframing, you look at a problem within its larger context. For example, you could reframe an individual issue, “Why won’t Tom gel with our team?” to a systemic problem, “What are the attributes of our team that make Tom feel excluded?”

“Redirect your prayers … and watch what happens”

The great Roman Emperor and Stoic Philosopher Marcus Aurelius wrote in “Meditations” (trans. Gregory Hays,)

'Meditations: A New Translation' by Marcus Aurelius (ISBN 0812968255)Either the gods have power or they don’t. If they don’t, why pray? If they do, then why not pray for something else instead of for things to happen or not to happen? Pray not to feel fear. Or desire, or grief. If the gods can do anything, they can surely do that for us.

But those are things the gods left up to me.

Then isn’t it better to do what’s up to you—like a free man—than to be passively controlled by what isn’t, like a slave or beggar? And what makes you think the gods don’t care about what’s up to us?

Start praying like this and you’ll see.

Not “some way to sleep with her”—but a way to stop wanting to.

Not “some way to get rid of him”—but a way to stop trying.

Not “some way to save my child”—but a way to lose your fear.

Redirect your prayers like that, and watch what happens.

Idea for Impact: Reframe, Always Reframe

If you find yourself stuck with a problem or difficult situation, try reframing your view of that problem. Consider alternate perspectives, revise your goals, and reconsider how you see the way forward.

To reframe, simply step back from your present viewpoint and alter the “lens” through which you perceive the reality. Discover your unspoken assumptions, challenge your beliefs, change the attributes of your perception of the problem, and downplay or emphasize various elements of the situation. By “looking at it another way” you can derive new meanings and define different courses of action.

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Filed Under: Mental Models, Sharpening Your Skills Tagged With: Creativity, Philosophy, Stoicism, Thinking Tools, Thought Process, Winning on the Job

Inspirational Quotations #599

September 27, 2015 By Nagesh Belludi Leave a Comment

Our modern society is engaged in polishing and decorating the cage in which man is kept imprisoned.
—Swami Nirmalananda

The mother as a social servant instead of a home servant will not lack in true mother duty. From her work, loved and honored though it is, she will return to her home life, the child life, with an eager, ceaseless pleasure, cleansed of all the fret and fraction and weariness that so mar it now.
—Charlotte Perkins Gilman (American Sociologist)

Everything is for the best in this best of all possible worlds.
—Voltaire (French Philosopher)

Time deals gently only with those who take it gently.
—Anatole France (French Novelist)

To avoid an occasion for our virtues is a worse degree of failure than to push forward pluckily and make a fall.
—Robert Louis Stevenson (Scottish Novelist)

Those who can command themselves command others.
—William Hazlitt (English Essayist)

So far as I can remember, there is not one word in the Gospels in praise of intelligence.
—Bertrand A. Russell (British Philosopher)

The talent for being happy is appreciating and liking what you have, instead of what you don’t have.
—Woody Allen (American Actor)

My crown is in my heart, not on my head, Nor decked with diamonds and Indian stones, Nor to be seen: My crown is called content: A crown it is, that seldom kings enjoy.
—William Shakespeare (British Playwright)

Change, like sunshine, can be a friend or a foe, a blessing or a curse, a dawn or a dusk.
—William Arthur Ward (American Author)

Sometimes I worry about being a success in a mediocre world.
—Lily Tomlin

Honesty is better than any policy.
—Immanuel Kant (Prussian German Philosopher)

The one thing in the world, of value, is the active soul.
—Ralph Waldo Emerson (American Philosopher)

Poverty is the only load which is the heavier the more loved ones there are to assist in bearing it.
—Jean Paul (German Novelist)

Filed Under: Inspirational Quotations

When Delegating, Acknowledge Possible Errors

September 25, 2015 By Nagesh Belludi Leave a Comment

Earlier this year, the ever-brilliant Ben Casnocha wrote an interesting essay reflecting upon his “10,000 Hours with Reid Hoffman,” the co-founder of LinkedIn and a prominent Silicon Valley investor. As Hoffman’s chief of staff for two years, Casnocha worked on strategic aspects of Hoffman’s many personal and professional projects. The two also authored “Start-up of You” (on career management) and “The Alliance” (on talent management).

Casnocha’s “What I Learned” essay is full of helpful management and leadership insights. Here’s one on delegation:

If you’re a manager and care seriously about speed, you’ll need to tell your people you’re willing to accept the tradeoffs [of delegation]. Reid did this with me. We agreed I was going to make judgment calls on a range of issues on his behalf without checking with him. He told me, “In order to move fast, I expect you’ll make some foot faults. I’m okay with an error rate of 10-20%—times when I would have made a different decision in a given situation—if it means you can move fast.” I felt empowered to make decisions with this ratio in mind—and it was incredibly liberating.

Idea for Impact: When Delegating, Acknowledge Possible Error

Managers can’t do everything. They must accept that they’ll need to delegate tasks often, knowing full well—often with good reason—that employees may not do those tasks as well or as fast as they managers would themselves.

To build confidence in employees’ skills in handling delegated tasks, managers can give employees a few initial low-risk tasks. As the manager gets more confident with the employee, the scope of delegated authority can expand.

Nobody makes optimal decisions every time. Demanding perfection from employees is unrealistic. Clarifying expectations, negotiating limits, expecting mistakes, and establishing confidence can be incredibly relieving and empowering to both managers and employees.

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Filed Under: Leading Teams, Managing People Tagged With: Delegation

Don’t Listen to Jim Cramer on Mad Money

September 21, 2015 By Nagesh Belludi 3 Comments

If you ever tune in to CNBC’s popular Mad Money show, you’ll notice that host Jim Cramer speaks about the financial markets with unabashed certainty. Behind the goofy sound effects and the onscreen antics lies his particular brand of stock market punditry.

Cramer’s energy and confidence are most evident in the lightning round where his devotees hail “Booyah” and ask for his take on a barrage of stocks. In response, Cramer presents quick statistics and declares, “Same-store sales in China rose 12% last quarter. It’s a screaming buy; they’re doing great. BUY! BUY! BUY!” Or, he blurts out, “This company is involved with deep water rigs, the deep water market has not come back at all. If it does go up at all, SELL, SELL, SELL!”

What’s most notable about Mad Money is that Cramer is seemingly equipped to answer questions about any listed company with all the gusto he can muster. How could he possibly know the ins and outs of every company: their products, finances, cash flow, competitive positions, market prospects, and current valuation? He may know of many companies cursorily, but how could he have intimate knowledge of every ticker symbol that his fans throw at him? You’ll never hear him say, “Sorry, never heard of them,” or “Gee … truth be told, I’m not familiar with their new products or how they compare to the competitor’s products. I really couldn’t tell you.” He’s loud. He’s boisterous. And, he’s got to have an opinion on every stock—if he doesn’t, there is no show.

Jim Cramer, the best entertainer in the financial media

'Jim Cramer's Mad Money: Watch TV, Get Rich' by Jim Cramer (ISBN 1416537902) Jim Cramer’s credentials are impressive: Harvard, Goldman Sachs, hedge fund management, and TheStreet.com. He is the author of many investment-advice books with titles as appealing as “Get Rich Carefully”, “Sane Investing in an Insane World”, “Confessions of a Street Addict”, “Watch TV Get Rich”. He is experienced. He has extensive knowledge of the markets. He is passionate. He is smart.

Nonetheless, do not let Cramer’s credentials fool you about Mad Money‘s intent. His antics are entertaining. He wears silly costumes, yells at the camera, throws chairs around when angry, hits things with mallets, and chews heads off foam bears—all while producing goofy sound effects that include squealing pigs and a flushing toilet.

Jim Cramer’s opinions on Mad Money are often one-dimensional, half-baked, oversimplified, or wide of the mark. In the very first Mad Money episode I watched in 2005, a caller on the lightening round asked him about a company called PetroKazakhstan. Cramer’s response was that he did not trust the Russians. PetroKazakhstan was a Calgary-based Canadian oil company that was led by Canadian executives, did all its business in Kazakhstan, and had little to do with Russia. (The state-owned PetroChina acquired PetroKazakhstan in 2006.)

Don’t identify Cramer’s show with sound investment advice

As with other programs in the financial media that are teeming with talking heads, watching Mad Money can give you pointers as to what’s happening in the markets and in business trends. You can get ideas for what stocks to research or even speculate on. However, none of it constitutes sound investment advice.

Cramer’s job is not to make you money. He gets paid by CNBC to generate viewership and to entertain viewers with the pretext of dishing out dependable investment advice. He is not a trickster; he just is an entertainer on Mad Money, a fact that he acknowledged in a 2007 essay in the New York Magazine: “On the show, I say stupid things, yell ‘Booyah’ with alarming frequency, and occasionally wear a diaper or jump into a pile of lettuce to illustrate the finer points of investing. … God knows why, but there seems to be a market for this kind of idiocy.”

Watch Mad Money for the frenzy and personality-driven entertainment. Don’t take his speculative tips or investment advice seriously. Instead, do on your own research.

Rule #21 in Cramer’s 25 Rules of Investing states, “Be a TV critic: accept that what you hear on television is probably right, but no more than that.” Now, that’s good advice.

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Filed Under: Personal Finance Tagged With: Getting Rich, Personal Finance

Inspirational Quotations #598

September 20, 2015 By Nagesh Belludi Leave a Comment

The bookful blockhead ignorantly read,|With loads of learned lumber in his head,|With his own tongue still edifies his ears,|And always list’ning to himself appears.|All books he reads, and all he reads assails.
—Alexander Pope (English Poet)

Nothing makes it easier to resist temptation than a proper bringing-up, a sound set of values—and witnesses.
—Franklin P. Jones

I hate intellectuals. They are from the top down. I am from the bottom up.
—Frank Lloyd Wright (American Architect)

A man of genius makes no mistakes. His errors are volitional and are the portals of discovery.
—James Joyce (Irish Novelist)

We accept the verdict of the past until the need for change cries out loudly enough to force upon us a choice between the comforts of further inertia and the irksomeness of action.
—Learned Hand

Genius is often only the power of making continuous efforts. The line between failure and success is so fine that we scarcely know when we pass it—so fine that we are often on the line and do not know it. How many a man has thrown up his hands at a time when a little more effort, a little more patience, would have achieved success. As the tide goes clear out, so it comes clear in. In business sometimes prospects may seem darkest when really they are on the turn. A little more persistence, a little more effort, and what seemed hopeless failure may turn to glorious success. There is no failure except in no longer trying. There is no defeat except from within, no really insurmountable barrier save our own inherent weakness of purpose.
—Elbert Hubbard (American Writer)

I went for years not finishing anything. Because, of course, when you finish something you can be judged … I had poems which were rewritten so many times I suspect it was just a way of avoiding sending them out.
—Erica Jong (American Novelist)

For those who may not find happiness to exercise religious faith, it’s okay to remain a radical atheist, it’s absolutely an individual right, but the important thing is with a compassionate heart—then no problem.
—The 14th Dalai Lama (Tibetan Buddhist Religious Leader)

There is no past that we can bring back by longing for it. There is only an eternally new now that builds and creates itself out of the Best as the past withdraws.
—Johann Wolfgang von Goethe (German Poet)

The past is for us, but the sole terms on which it can become ours are its subordination to the present.
—Ralph Waldo Emerson (American Philosopher)

Filed Under: Inspirational Quotations

Is Day Trading and Speculation for You?

September 18, 2015 By Nagesh Belludi 1 Comment

A few weeks ago, even as stock markets around the world suffered a turmoil triggered by downbeat economic news from China, a prolific 36-year-old Japanese day trader claimed to have made $34 million by betting big against the market trends and timing the bottom precisely.

Notwithstanding frequent mention of such success stories and blaring ads in the media tempting you to stake money on your wits and your instinct to profit from market swings, it can be very hard to make money consistently in day trading and short-term speculation.

As a fundamentals-based long-term investor, I don’t think there is anything wrong with day trading or short-term speculation. With skill, strategy, and the right temperament, it’s possible to be just as profitable in speculating as in investing with any other time horizon.

Over the years, many sophisticated stock-analysis services have emerged to facilitate trading and speculation by amateurs such as these pictured day-traders from Bangalore. Vast online social networks such as StockTwits engage in the exchange of information, opinion, gossip, rumors, and stories of successes and losses.

Day Trading and Speculating by Amateurs in Bangalore, India

For a few successful trades, luck may be the main factor. However, in the fullness of time, the most important factors for consistent stock market gains are discipline, temperament, and risk management.

Most day traders fail because it’s too darn hard to time the market. They lack a coherent technique that works consistently. Instead of following a definite strategy rooted in fundamentals or a structured thought-process, they follow the news-tickers, minute-by-minute stock prices, volume- and price-trends, and poorly understood media-fed euphoria. Moreover, most day traders engage in short selling, a complex skill that goes against the grain of the conventional buy-and-hold mindset. Worst of all, most speculators don’t understand how their emotions come into play—both when they lose and when they win.

Like anything that requires focus, drive, discipline, persistence and a stroke of luck, day trading and speculation are hard to do successfully. It may take years of painful education and experimentation before creditable success. The U.S. market regulator Securities and Exchange Commission (SEC) offers the following cautions on day trading:

  • Be prepared to suffer severe financial losses
  • Day traders do not “invest”
  • Day trading is an extremely stressful and expensive full-time job
  • Day traders depend heavily on borrowing money or buying stocks on margin
  • Don’t believe claims of easy profits
  • Watch out for “hot tips” and “expert advice” from newsletters and websites catering to day traders
  • Remember that “educational” seminars, classes, and books about day trading may not be objective

'Reminiscences of a Stock Operator' by Edwin Lefevre (ISBN 1500541052) Idea for Impact: Most studies on day trading and speculation reckon that over three-fourths of amateur traders lose money, some of which may have been borrowed. The high risk that comes with high-yield investments and the self-inflicted stress of loss and debt may not be for you.

A Low-risk Alternative: There is no fail-safe way to invest without any risk. If you don’t have the time, energy, determination, or a strong understanding of investing, consider low-cost index funds. Do your own research. Read my previous article about John Bogle, founder of Vanguard and his tireless advocacy of low-cost index funds.

Recommended Reading: Edwin Lefevre’s 1923 classic, “Reminiscences of a Stock Operator”, is a fictionalized biography of Jesse Livermore (1877–1940), one of the greatest stock market speculators of all time. This “font of investing wisdom” (per Alan Greenspan) is filled with insightful trading advice and shrewd market/price movement analyses.

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Filed Under: Personal Finance Tagged With: Getting Rich, Personal Finance, Simple Living

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About: Nagesh Belludi [hire] is a St. Petersburg, Florida-based freethinker, investor, and leadership coach. He specializes in helping executives and companies ensure that the overall quality of their decision-making benefits isn’t compromised by a lack of a big-picture understanding.

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