There are risks associated with being first, one of them is that if your project fails, your career will go down like a sinking ship in a hurricane. We'll talk about the 'first mover advantage', the risks associated with being first to market and how we can mitigate that risk. We'll also touch on the advantages of being second (or even later).
Here's my thought process on whether to invest in this pre-IPO company. This is a good exercise in decision making. You will never have all of your questions answered. Your goal is to gather as much information you can in the time you have, weigh your information against your risk factors and decide.
The cannabis industry is to become legal in July 2018 in Canada.
The demand is high. The producers (farmers) are looking for investor's money.
The product is sure to be a success, in both the medical and recreational markets. But which producer do you invest with? Your investment could make you rich, or you could lose it all if you're not doing your due diligence.
So this is the right race, but is it the right horse?
When you see brilliance, you know it. Ideas, properly phrased, have become immortalized over the course of humanity. Who doesn’t know Martin Luther King Jr.’s “I have a dream…”. Who can’t finish the sentence from John F. Kennedy, “Ask not…” Or Steve Jobs’ phrase that launched Apple on its path to being the most recognized brand in the world, “One more thing…”
I read such a speech recently. The speech was delivered by the Mayor of New Orleans, Mitch Landrieu, when the last Confederate monument was removed.
As a leader, we should always be looking to influence and persuade others. We need to always be selling our vision. To that end, I wanted to take look at what made Mr. Landrieu's speech so compelling, so I made a summary of the speech and then a summary of the summary.
It's summer time! Have you taken your vacation?
Bust those vacation stereotypes of people NOT taking their vacation!
Here's some work life balance tips and benefits you and your company get by taking your vacation, including a better work environment, increased productivity and reduced burnout.
So you have a new team.
Where do you start to take control?
How do you determine who stays and who goes? As you know, people aren't your greatest asset. The right people are your greatest asset.
Inspired by John F. Kelly, White House Chief of Staff, when he stepped in to "give some structure" to the President's team. I think we'll see more discipline soon.
What steps do you take to get control?
1. Set expectations
2. Determine your business status (STaRS)
3. Create a culture of discipline
4. Evaluate your team
As a leader, you want to encourage openness. You want to challenge the biases, known and unknown, that we all posses. You want to acknowledge cold, hard, sometimes brutal facts, otherwise you won't succeed. We want to have a culture where people can bring their problems to us without fear of retribution.
I am for diversity, read any of my prior posts. I value people regardless of gender or race. What matters to me is building a productive team where every person contributes to the best of their ability and they feel valued. To have a room of people with the same thought patterns means some of those people are not necessary.
So a Google software engineer, James Damore, thinking he is in a safe space, publishes his thoughts on Google's intranet (for Goggle staff only) about Google's diversity efforts. Mr. Damore's full 10 page post can be read here. Ten pages - he gave some serious thought to his post. It is detailed, thoughtful, identifies issues and promotes solutions.
He identified Googles' hypocrisy in addressing diversity. If you read my earlier post, Google and Gender Equality, Google pays lip service to gender inequality. It has been proven Gender Inequality costs economy billions.
So, by pointing out the obvious, James Damore, has been fired.
Sundar Pichai, Google’s chief executive, said the memo had promoted “harmful gender stereotypes.” That was the reason for the firing.
I agree that Mr. Damore reiterated “harmful gender stereotypes”, but he also includes ways to address the problems. Solutions that are not just window dressing, like Google's current diversity efforts.
I would not have fired him. I would have taken his ideas, had a discussion with him alone and then with others. I would try to fix what he, and many others, including the leaders at Google, see as broken.
What would you have done?
Watch this video from my free weekly webinar series (Thursdays, 12:30 Eastern).
The first 7 paragraphs of this NY Times Article on the people working on the Voyager are so engaging. It talks about an ambitious space mission (aren't they all?), the team, one of who makes one tragic mistake and trying to recover from 100 million miles away. To the fact that the 2 satellites are now 40 years into their mission and are now 10 billion and 13 billion miles away from earth. Amazing.
Hats off to all the people at NASA.
We don't dream as big as we used to. Or maybe it's just me.
Note to self: Dream BIG!
Listen in as I give a master class in how to be an over-achiever.
Recorded from my free weekly Leadership Community of Practice webinar.
Thursdays, 12:30 Eastern, Join: http://bit.ly/2vvLYv6
This is old news (December 2016), but it still bothers me. Why would IBM, a pretty successful, global firm, ask the US government for money to train people so that IBM can make money?
The simple answer is because they can. The other simple answer boils down to greed. As in "Why would I pay for something, out of my pre-tax dollars, when I can get it for free?'
IBM does pay a lot of money in taxes to the US government. (3.6% in 2016, 16.2% in 2015 - that's a bit less than you and I pay.. by a factor of 10 or more in 2016).
Here's why you should pay for training your own people:
Why would you go to the government?
This post ties to my other post on offshore jobs coming back to North America.
Advance your career.