Mismash January
Things which make me go “huh?”
SELF-LEADERSHIP
We cannot outsource our attitudes, values, behavior, or willingness to improve – Dr. Mary Kelly.
She goes on to focus on whether we are “self-aware” (less than 15% are), which determines if we are receptive to constructive feedback as useful information. Ask how you make people feel!
REFRAME SELLER CONCERNS
The business of a long-term owner often defines themselves – identity, legacy, and daily routine. If the Seller gets “cold feet” consider discussion on partial sale, earn-outs, and consulting agreement. Ron Edmonds writes that an owner, deeply entrenched in their operations, likely will have difficulty maintaining objectivity.
BAD DATA VS. GOOD DECISIONS
Kent Engelke - my favorite daily economic analyst - notes that the response rate from businesses, targeted by the federal government for data collection, has dropped to 60% (versus 90% ten years ago). Remember the “garbage in, garbage out” mantra we used 50 years ago relating to computer data bases? What was, now is!
GOOD SIDE OF OZ
Qualified Opportunity Zones (“OZ”) legislation (Tax Cuts and Jobs Act of 2017) was designed as a market-driven mechanism to channel private capital into America’s economically disadvantaged communities. Brad Vogelsmeier, writing for ULI, notes the “subsidy cost” with OZ of $26,000 per new residential address, a fraction of the cost of many other government housing programs. Maybe we need consider “leaning into” a tax program which has proven concept (rather than arguing over additional highly bureaucratic options).
USE YOUR VOICE
Do you have the courage to use your voice, whether to share a new vision…or just admitting “I don’t know”? Allison Shapira’s position is that “… when you lead with your voice, you build trust. And when you build trust, you move people to action.” Speak up, open yourself to others, then LISTEN to them intently!
FICTIONAL STABILITY
Many of my W-2 friends lived their careers, wearing their corporate job as a blanket, providing perceived stability. Until Land America and Circuit City went under, thousands were fired from Federal jobs, and downsizing post Covid exposed the holes in their security blanket. Less than 10% lean into entrepreneurship (according to the U.S. Bureau of Labor Statistics). Steve Preda, the king of entrepreneurial coaching, states that “…by starting a business, you can focus on your unique abilities and hire people around you to do everything else. Start by reading UNIQUE ABILITIES by Dan Sullivan.
BOTTOM LINE
When my mother died, we four sons went about breaking up housekeeping.
We found she had retained two full boxes of memorabilia of Bill, the firstborn, her gifted child! He skipped a grade in school – as did my mother – played center for Langley High School, and being tall/Pat Boone handsome/thin, he had the lead role in the class play!
For the next son, John, there was a box full of memories for the behemoth. Being 6’5”, he played line – the full line, it seemed – for our high school football team. Yet his sculptures reflected the soul of an artist.
For Bob – I believe her favorite - there was a huge folder reflecting his love of art and the practical side of life – he could build or repair anything anytime and would do so for everybody
For me, there was but a thin folder! Less than 5 pages.
My mother always said she “…raised four only children.” My analysis – as an “only child” – lead me to conclude that since she finally got it right with me, there was no need to store physical memories!
Reframed reality can carry us far in life.