by Chris Banescu –
YouTube, currently the largest video platform in the world, does not provide search functionality for your liked or saved videos. You’re allowed to search all YouTube videos for specific key words and terms, but you cannot search solely within your own lists of liked or saved videos. [Read more…]
Business Strategy
Power and Leadership – Authentic Leaders Give the Power Back to the People
by Chris Banescu –
Bob Davids, successful leader of six different businesses and co-author of Leadership without Ego: How to stop managing and start leading, reminds us of the right way that authentic leaders use the power they are given by the people. Rather than hoard that power, great leaders give all power back to the individuals who entrusted them with it.
In return, the people give these leaders even more power, thus creating a virtuous cycle that builds trust, empowers individuals at all levels of the organization to do great work, and inevitably leads to the long-term success of the enterprise and the people working there.
In his TEDx Talk, Davids explains that power is given to leaders by the people who support them. When individuals give power to their superiors, they observe how those leaders respond. If leaders take that power and give it all back to the people, the people then give those leaders even more power (support). [Read more…]
Esri: Solid Revenues, Conservative and Systematic Growth, No Layoffs, No Downsizing
by Chris Banescu –
“We have 9,000 employees worldwide and $912 million n revenue. In our 43 years, we have never missed a quarter. We’ve never had any layoffs; we’ve never had any downsizing. It’s just been very conservative, systematic growth.” ~ Jack Dangermond
A few years ago Inc.com magazine interviewed Jack Dangermond the co-founder of Esri, a global corporation that supplies geographic information system software, web GIS, and geodatabase management applications. Dangermond highlighted the company’s stellar and systematic growth despite its conservative management style and lack of any layoffs in its 43 years of operation. [Read more…]
Empirical Creativity – An Important Tool for Successful Innovation
by Chris Banescu –
In the book Great by Choice, authors Jim Collins and Morten T. Hansen set out to discover why some companies thrive in uncertain and chaotic times while others do not. Their extensive research identified what they named “10Xers“, businesses that didn’t just get by or became successful, but “truly thrived” beating other companies in their industry by “at least 10 times.”
Collins and Hansen set out to find enterprises that (1) sustained spectacular results for 15+ years relative to their industries and the market, (2) achieved results in turbulent and uncertain times, and (3) began their rise to greatness while being in a position of vulnerability.
Out of the 20,400 companies they initially began reviewing, they discovered just seven 10Xers (10X businesses) who fit their stringent performance characteristics.
The authors’ found that all 10Xers displayed the following behaviors: fanatic discipline, empirical creativity, and productive paranoia, all animated by “Level 5 ambition.” [Read more…]
Jeff Bezos (Amazon): Top Ten Maxims for Business Success
Chris Banescu –
Jeff Bezos, the founder and current CEO of Amazon.com, offers ten maxims that have helped him turn Amazon into the world-class company it is today. Leaders should consider these important principles if they want to insure the long-term success of their businesses. The list was compiled by George Anders, Forbes contributor who writes about management, careers and unforgettable personalities. This story appeared in the April 23, 2012 issue of FORBES magazine.
1. “Base your strategy on things that won’t change.”
Selling lipstick, tractor seats, e-book readers and data storage is all part of one big plan with three big constants: offer wider selection, lower prices and fast, reliable delivery.
2. “Obsess over customers.”
Early on Bezos brought an empty chair into meetings so lieutenants would be forced to think about the crucial participant who wasn’t in the room: the customer. Now that surrogate’s role is played by specially trained employees, dubbed “Customer Experience Bar Raisers.” When they frown, vice presidents tremble. [Read more…]
Relying On Customer Trust To Help You Weather A Tough Economy
by Don Peppers –
You’ve probably heard the joke: Two hunters confront a large grizzly bear. Their weapons misfire and the bear comes at them. The first hunter takes off running, but the second one pauses briefly to discard his hunting boots and put on running shoes. “Don’t waste so much time!” the first hunter yells over his shoulder, “Running shoes aren’t going to be enough to outrun that bear!” The second hunter, quickly catching up with his friend, replies “I don’t need to outrun the bear. I just need to outrun you!”
So now the question is: Do you have the right shoes to outrun your competitors? You might want to consider how well your customers trust you to act in their interest.
In tough times, buyers want to economize every bit as much as sellers do, so customers cut back, simplify, and search for reliability. Discount stores benefit as consumers look for bargains, but customer-oriented sellers also benefit, as customers seek out businesses they can trust. [Read more…]
How to Lead With Purpose
by Marla Tabaka –
The purpose-driven company is led by someone who has a reliable inner compass guiding them. John Baldoni asks: What’s your direction?
Can you describe the purpose of your business in a single sentence? Do you—and does every single person who is connected with your organization—have a reason to believe in that mission? Internationally recognized leadership educator John Baldoni believes that when an organization succeeds, it is because everyone involved knows precisely what they do—and why they do it. Even in start-up mode, an entrepreneur needs to constantly consider his or her mission and purpose to ensure growth and success. I recently spoke with Baldoni, the author of Lead with Purpose: Giving Your Organization a Reason to Believe in Itself, about the the defining qualities and responsibilities of one who leads with purpose. [Read more…]