Mish Mash – November
Good Short Insights
WHY BRING IN AN ‘EXPERT” WHEN YOU ALREADY KNOW EVERYTHING?
Sometimes an outside expert provides a fresh set of eyes. Sometimes, they just reflect to you what you already know. In theory, they will provide an unbiased assessment of your situation. And sometimes they just tell you what they think you want to hear. A useful expert serves as a catalyst, and drives initiates forward (particularly when no one in house has the responsibility). PLEASE talk to their last 2 – 3 clients. You need confirm that what the experts claims they provide matches what they have done…and their process fits what your personality can handle!
EMOTION DRIVES BUSINESS
My favorite consultant, Steve Preda, notes that “Emotion is the fuel in the tank of your business.” He asks “Do you want mercenaries or missionaries to grow your business? If it’s the latter, then you need a mission that you and your people can get excited about.” Consider whether your mercenaries (e.g., sales) would work even harder (at least smarter) if there was a mission they could lean into when times get difficult (and that happens every day in sales).
CPA LAUNCHES LAW FIRM
What does it mean for your business as law firms become owned by accounting firms? KPMG is launching KPMG LAW US after the Arizona Supreme Court granted a special license. In Arizona, KPMG LAW US is prohibited from representing firms where the KPMG performs financial audits. Expect money influencing elected officials – note that in some states appoint state supreme court justices – will drive further CPA – Law Firm connections over the next five (5) years. Remember when banks could not own a securities broker dealer? Remember – he who has the gold makes the rules!
SENIOR HOUSING
Paul Getty notes that those 65 years old has grown from 39.6 million in 2009, to 54.1 million in 2019, and is projected to grow to 80.8 million by 2040. Not everyone wants to – or can afford - to move into “senior housing” (which means different things to different “experts”). Senior housing is labor intensive, requires specialized management, and is subject to government regulations. This “elephant moving through the snake” will have a huge and multi-faceted impact on society and the economy. Like the potential impact of AI – we may not know with certainty the changes coming, but the change is real and the time is now!
HABITS vs MOTIVATION
Mary Kelly, extraordinary public speaker and friend, notes that “…motivation is like a guest that does not always show up on time.” The role of structure, which she learned in business and the Navy, provides freedom, “…as your habits carry you when willpower is low.” Mary starts her days at the same time, follows the same morning routine, attacking the most important business task first, and keeping her environment ready to support work (not distract from it). Consistency beats intensity!
BOTTOM LINE
Fuel your efforts with emotion. Grow by leaning into developing and honor your personal and business mission. Wisely engage “experts” to help you move from where you are to where you want to go. Acknowledge that there are MAJOR trends coming – seniors, CPA = law firm, AI – which will require us all soon to adjust to the change in our daily experience.
