Tony DeMeo


Why

If you apply for a job, or put in a proposal for a new customer/client/project and don’t get it would you rather know why you weren’t given the opportunity or would you rather know why someone else did get the opportunity?

Finding why you didn’t get the opportunity just tells you what went wrong but finding out why someone else did gives you an idea of what you need to work toward.

Both are helpful but ignoring one will most likely result in other lost opportunities.

Have a great day!

Lawrence



Rose Colored Glasses

The problem with falling in love with your own idea is you start seeing the idea through rose colored glasses.

These rose colored glasses potentially result in unrealistic optimism, missing potential pitfalls and overall not being objective.

The way to overcome this is to get other peoples opinions but even then, you have to work hard to get their objective opinion because they don’t want to hurt your opinion.

It’s only when you remove your rose colored glasses that you can determine whether an idea is worthwhile or not.

Have a great day!

Lawrence



Laws

When problems arise, we tend to want to create new laws or rules to correct the problem. In doing this, we tend to create a complete mess (if you don’t believe me read the NCAA rules on recruiting).

Plato had a solution that made sense back in his time and makes sense today. He wrote “Good people do not need laws to tell them to act responsibly, while bad people will find a way around the laws.”

Rather than focusing on rules to govern people you manage, it makes more sense to focus on surrounding yourself with good people.

Just a thought.

Have a great day!

Lawrence



The right thing

Deciding when to break a rule is difficult. You have to decide whether the reward is worth the risk. You have to time it properly to get away with it.

On the other hand, deciding to do the right thing is easy. The right time is always NOW. The risk is usually lower, the reward is reasonable.

When not sure what to do…do the right thing.

Have a great day!

Lawrence



Freedom

It’s wonderful to be able to give your employees freedom to make the right decision.

An example would be allowing the person at the front desk of a hotel to upgrade a guest, at no cost to the guest, because they had a negative experience.

The challenge is having the confidence in the employee to make the right decision.
This all starts with the hiring process.

Are you hiring the right people or just the first applicant? Are you doing proper background checks, checking their EQ compatibility and doing your proper due diligence or just taking the easy way out?

Once you have hired the right person, are you training them properly or just dumping them into the position and hoping they learn on the job?

When you have hired the right people and trained them properly, the next step is to give them some freedom to make decisions (and to make mistakes). Understand that they WILL make mistakes and this is part of the learning process. Rather than yelling at them for a mistake, utilize it as a learning opportunity and show them how they could have handled things differently. If they don’t repeat the mistake, you have a winner. If they keep repeating the mistake, pull back some of their freedom to make a decision, continue the training and reemphasize the positives, fix the negatives and allow them to earn the freedom back.

If you don’t have employees you can give freedom to, you might want to look in the mirror to see the real problem.

Have a great day!

Lawrence



Delusions of Grandeur

There is a saying in the start up world to “fake it till you make it”. The problem is, eventually you will be found out if you don’t make it quickly.

Even worse in the fake it till you make it is it leads to delusions of grandeur because too often, the first person who starts to believe the fake is the faker. The forget it’s a fake and start to believe their own BS.

Some people can fake it a long time (see Bernie Madoff and Elizabeth Holmes as examples) but eventually the bluff gets called and the fake is exposed.

Confidence is wonderful, delusions of grandeur can be the death knell for an organization.

Have a great day!

Lawrence



Scarcity

When talking about intellectual property should scarcity be factored into the equation?

Intellectual property is designed to encourage the creation of intellectual goods so it protects these creations for a number of years. Investors frequently are looking for intellectual property (IP) in order to feel secure that someone else wont come along and do the same thing.

Scarcity can accomplish the same thing. If you are the only person who has access to something, even if you don’t have any IP, if that something has unique qualities, you would think it would provide equal protection.

The advantage with scarcity is it doesn’t run out. The disadvantage is if/when someone figures out something comparable, you have no protection at all.

Just a thought.

Have a great day!

Lawrence



Half committed

Being half committed to something means you aren’t committed at all.

You either have to be all in or all out, anything less than all in…is all out.

Too often we give lip service by doing a “trial” or trying part way. Go all in or don’t go at all, that is the choice when it comes to commitment.

Have a great day!

Lawrence



Opinions

For years people have relied upon their opinion over facts. Peter Neupert worked at Amazon early on and had an interesting quote.

“I learned quickly from those days that opinions don’t matter,” Neupert said. “Data matters.”

When data is available, trust the data (not necessarily the person presenting the data, the true data).

When data isn’t available, get the data.

The data will provide you with all of the opinions you will need.

Have a great day!

Lawrence



Leaders

Many people think they are leaders. They might have a leadership position. They might have read books on leadership.

One way to determine if someone is a leader or not is to simply take a look. Are people following these people? If there aren’t followers, it would be difficult to claim they are leaders. If there are followers, is it people want to follow or because they have to follow? Sometimes people have followers because these followers have the choice of either following…or being fired.

It’s easy to spot leaders. The challenge is what do you do when the people who are supposed to be leaders…aren’t?

Have a great day!

Lawrence