1: “Imagine we’re floating in a clear blue ocean—somewhere warm like Hawaii or Mexico,” Ron Shaich writes in his terrific book Know What Matters: Lessons from a Lifetime of Transformations.
“Waves are breaking and rolling toward the white, sandy beach,” Ron notes. “We know that’s where we are headed, so our ultimate destination is clear. And we know that any wave will take you to shore.
“But not just … continue reading
1: “Screw them. We could run a better convenience store than these folks!”
Twenty-one-year-old college student Ron Shaich was mad. He and his friends had been “escorted” out of the Store 24 convenience store directly across from Clark University, which they attended.
The “beefy security guard . . . had taken one look at the trio of scruffy kids lingering over the ice-cream freezer and decided we were intent on … continue reading
1: Salomon Brothers CEO John Gutfreund was about to get fired.
The year was 1991. A major scandal had rocked the prestigious Wall Street investment bank.
And, it was all so unnecessary, Charlie Munger writes in Poor Charlie’s Almanack.
Charlie should know. He had a front-row seat to all the action as Vice Chairman of Berkshire Hathaway, then Salomon’s largest shareholder.
2: The scandal happened when Salomon’s traders submitted … continue reading
1: “In God we trust, all others bring data,” management scientist W. Edwards Deming once said.
“The best CEOs adhere to this mantra,” Carolyn Dewar, Scott Keller, and Vikram Malhotra write in their book CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest.
“Our decision-making principles insist on evidence,” says former Intuit CEO Brad Smith. “One of the mottos is, ‘Because of (blank), … continue reading
1: The executive team had gathered to make three investment decisions.
“First, they discussed the investment for a £10 million nuclear power plant,” Carolyn Dewar, Scott Keller, and Vikram Malhotra write in their book CEO Excellence, citing C. Northcote Parkinson’s 1958 book The Pursuit of Progress.
Total time spent to make the decision: Two and a half minutes.
Next up? What color should they paint their … continue reading
1: Monday through Thursday, we explore ideas from authors, thought leaders, and exemplary organizations. On Friday, I share something about myself or what we are working on at PCI.
Searching for a bit of wisdom as we push to end 2024 on a solid note and start 2025 with a bang? Read on!
Imagine we adopt a new puppy from the pet shop, suggests Peter D. Kaufman, CEO … continue reading
1: Imagine our goal is to raise $10 million.
Which is a better approach? Would we rather solve 100 problems at $100,000 each?
Or, attempt to solve a single $30 million problem?
Dr. Alan Barnard, one of the world’s leading experts on constraint theory and decision-making, believes the second approach is a far better strategy.
Why? “For multiple reasons,” Alan believes, as quoted by Dan Sullivan and Ben Hardy… continue reading
1: It was the 1990s. DBS Group CEO Piyush Gupta was working at Citibank and was halfway through a three-year assignment within the bank.
One afternoon, he sat down with his executive coach, who asked him to identify the A, B, and C players on the team he was leading.
Piyush had some A players. But many of those on his team were B and C players.
“The coach bluntly … continue reading
1: The 80/20 Rule or Pareto Principle tells us that 80 percent of our results come from 20 percent of our effort.
“Bluntly, 20 percent of our focus is producing 80 percent of our best and most desired results,” Dan Sullivan and Benjamin Hardy write in 10x Is Easier Than 2x.
And, “80 percent of our focus is producing a mere 20 percent or less of our best results, … continue reading
1: “Who are your top twenty most talented leaders?”
That was the question McKinsey consultants Carolyn Dewar, Scott Keller, and Vikram Malhotra asked the CEO of an average-performing healthcare company.
The CEO shared his list.
Next, they asked: “What are the twenty most important roles in the company?”
Once again, he shared his list, but “with a speed that suggested he hadn’t given that answer nearly as much … continue reading
