jerryking + course_correction   7

Venture Capitalist Bill Gurley Warns of Dumb Money - WSJ
By ROLFE WINKLER
Oct. 25, 2016

Unsophisticated investors continue to pour money into Silicon Valley startups.....fueling companies with weak business models and preventing a big downturn......new investors flooding startups with money in recent years, arguing that the rising valuations and aggressive spending by startups are caustic for Silicon Valley [Tom Friedman would argue that dumb money sloshing in "blocks signals" that otherwise would lead to a housecleaning, firings, and a re-deployment of capital] .......new money is not as educated as the previous money, so even though some lessons are being learned,” the “corrective mechanism” that should go into action following big startup failures hasn’t kicked into gear....At the same time.....risks remain in the financial system. Because global interest rates have been so low for so long, investors are seeing “asset bubbles” appear in many places, including real estate.....there's been an increase in “bankruptcies, layoffs...shutdowns,” but you haven’t had the kind of “wholesale” decline that happened in 2001 that “scared everyone out of the water.”
venture_capital  vc  Silicon_Valley  failure  liquidity  bubbles  course_correction  start_ups 
october 2016 by jerryking
Successful people act quickly when things go wrong - The Globe and Mail
HARVEY SCHACHTER
Special to The Globe and Mail
Published Sunday, Aug. 02, 2015

Productivity

Pivot quickly to maximize success
Airplanes are off course 90 per cent of the time but incessantly correct their direction, . Similarly, successful people correct their course quickly when off-kilter. They also set short timelines, have small daily to-do lists and drop stuff that isn’t working. Lifehack.org

Branding

Learn from but don’t live in the past
It’s great to know your company history but senseless to live in the past,Your company’s history is valuable only if customers and prospective clients believe it defines your brand and success, and differentiates you from competitors. If it doesn’t, build a new history.

Leadership

Pre-empt attacks with regular audits
To pre-empt an activist investor’s attack, eliminate financial and operational underperformance. Conduct regular vulnerability audits, looking at factors such as how earnings per share, profit and price-to-earnings ratios in the past 18 months compare with peers. If necessary, create an aggressive turnaround plan. ChiefExecutive.net

Human resources

Ask potential hires where they’ll go next
It sounds weird, but LinkedIn asks potential employees what job they want to have next after they leave the company. Founder Reid Hoffman says it signals the intent to have a huge impact on the individual’s career, helping to develop them for whatever they choose, and invites honesty. Vox.com

Tech tip

Use phone’s camera as portable copier
Productivity blogger Mark Shead recommends using your phone’s camera as a portable copy machine/scanner when on the road, photographing paperwork, train schedules or other information. Many new camera phones have the resolution to provide readable copies. Productivity 501.com
branding  productivity  human_resources  leadership  Harvey_Schachter  character_traits  habits  pre-emption  course_correction  Reid_Hoffman  career_paths  beforemath  overachievers  affirmations  pivots  audits  signals  vulnerabilities  hiring  interviews  high-achieving 
august 2015 by jerryking
Busy and Busier
Oct 24 2012 | The Atlantic | James Fallows.

a lot of people are feeling overwhelmed is because people are not in true survival or crisis mode as often as they have been in much of our history. The interesting thing about crisis is that it actually produces a type of serenity. Why? Because in a crisis, people have to integrate all kinds of information that’s potentially relevant, they have to make decisions quickly, they have to then trust their intuitive judgment calls in the moment. They have to act. They’re constantly course-correcting based on data that’s coming up, and they’re very focused on some outcome, usually live—you know, survive. Don’t burn up. Don’t die.

But as soon as you’re not in a crisis, all the rest of the world floods into your psyche. Now you’re worried about taxes and tires and “I’m getting a cold” and “My printer just crapped out.” Now that flood is coming across in electronic form, and it is 24/7.....The thing about nature is, it’s information rich, but the meaningful things in nature are relatively few—berries, bears and snakes, thunderstorms, maybe poison oak. There are only a few things in nature that force me to change behavior or make a decision. The problem with e-mail is that it’s not just information; it’s the need for potential action. It’s the berries and snakes and bears, but they’re embedded, and you don’t know what’s in each one....Things on your mind need to be externalized—captured in some system that you trust. You capture things that are potentially meaningful; you clarify what those things mean to you; and you need maps of all that, so you can see it from a larger perspective. With better technology, I’d like a set of maps—maps of my maps. Then I could say, “Okay, which map do I want to work on right now? Do I want to work on my family map, because I’ve got family members coming over for dinner?” Then you can drill down into “Oh, my niece is coming. She likes this food, her favorite color is pink, her dog is named …” Then you can back off and say, “That’s enough of that map. What’s the next map I want to see?” Or: “I’d just like to read some poetry right now.”
busy_work  course_correction  crisis  David_Allen  GTD  human_psyche  information_overload  James_Fallows  living_in_the_moment  mapping  metacognition  metadata  metaphysical  monotasking  productivity  nature  noise  overwhelmed  sense-making  signals  stress_response 
november 2013 by jerryking
The 6 Habits of True Strategic Thinkers
Mar 20, 2012 | | Inc.com | Paul J. H. Schoemaker.
Adaptive strategic leaders--the kind who thrive in today’s uncertain environment--do six things well:

1. Anticipate. Hone your “peripheral vision.” Reduce vulnerabilities to rivals who detect and act on ambiguous signals. ... Build wide external networks to help you scan the horizon better
2. Think Critically. Critical thinkers question everything. To master this skill, you must force yourself to reframe problems to get to the bottom of things, in terms of root causes. Challenge current beliefs and mindsets, including your own Uncover hypocrisy, manipulation, and bias in organizational decisions.
3. Interpret. Ambiguity is unsettling. Faced with it, you are tempted to reach for a fast (potentially wrongheaded) solution. A good strategic leader holds steady, synthesizing information from many sources before developing a viewpoint. To get good at this, you have to:Seek patterns in multiple sources of data; Question prevailing assumptions and test multiple hypotheses simultaneously.
4. Decide. Many leaders fall prey to “analysis paralysis.” Develop processes and enforce them, so that you arrive at a “good enough” position. To do that well, you have to: Carefully frame the decision to get to the crux of the matter, Balance speed, rigor, quality, and agility. Leave perfection to higher powers. Take a stand even with incomplete information and amid diverse views
5. Align. Consensus is rare. Foster open dialogue, build trust, and engage key stakeholders, especially when views diverge. To pull that off, you need to: Understand what drives other people's agendas, including what remains hidden. Bring tough issues to the surface, even when it's uncomfortable
Assess risk tolerance and follow through to build the necessary support
6. Learn.

As your company grows, honest feedback is harder and harder to come by. You have to do what you can to keep it coming.
Encourage and exemplify honest, rigorous debriefs to extract lessons
Shift course quickly if you realize you're off track
Celebrate both successes and (well-intentioned) failures that provide insight
Do you have what it takes?
tips  leadership  habits  strategic_thinking  anticipating  critical_thinking  networks  biases  conventional_wisdom  decision_making  empathy  feedback  thinking  failure  lessons_learned  leaders  interpretation  ambiguities  root_cause  insights  paralyze  peripheral_vision  analysis_paralysis  reframing  course_correction  vulnerabilities  good_enough  debriefs  post-mortems  problem_framing  discomforts  wide-framing  outward_looking  assumptions  game_changers 
march 2012 by jerryking
Leadership Lessons From the Shackleton Expedition - NYTimes.com
By NANCY F. KOEHN
Published: December 24, 2011

Consider just a handful of recent events: the financial crisis of 2008; the gulf oil spill of 2010; and the Japanese nuclear disaster, the debt-ceiling debacle and euro crisis this year. Constant turbulence seems to be the new normal, and effective leadership is crucial in containing it.

Real leaders, wrote the novelist David Foster Wallace, are people who “help us overcome the limitations of our own individual laziness and selfishness and weakness and fear and get us to do better, harder things than we can get ourselves to do on our own.”

Shackleton exemplified this kind of leadership for almost two years on the ice. What can we learn from his actions?...Shackleton begun the voyage with a mission of exploration, but it quickly became a mission of survival.

This capacity is vital in our own time, when leaders must often change course midstream — jettisoning earlier standards of success and redefining their purposes and plans.
uncertainty  unpredictability  leadership  expeditions  explorers  historians  lessons_learned  pivots  turbulence  constant_change  leaders  human_frailties  course_correction  arduous  Antartica  South_Pole  Ernest_Shackleton  new_normal 
december 2011 by jerryking
"Structural Breaks" and Other Timely Phenomena -
December 12, 2008 |Adam Smith, Esq.|Bruce MacEwen.

Finally, some words about strategy in the midst of a structural dislocation. Times like these—especially times like these—call for coherent responses on behalf of your firm to the challenges out there in the marketplace. This, rather than any tepid or hypocritical "mission statement" or allegedly scientific market segmentation analysis that will be overtaken by events before it can be bound and distributed,, is the type of strategy that actually has traction today.

And the essence of such a strategy is a thoughtful and reflective view on the marketplace forces at work, and how they'll affect your firm, your talent pipeline, your geographic centers of gravity, and your client base. To produce a coherent, nuanced, and dynamic view of what's happening, there's no substitute for the hard work of thinking about this multi-dimensional chessboard, with almost daily midcourse corrections based on new data points and new conversations, essentially incoming at you all the time.
Bruce_MacEwen  McKinsey  financial_history  simplicity  ratios  strategic_thinking  talent_pipelines  structural_change  howto  customers  Five_Forces_model  competitive_landscape  situational_awareness  course_correction  disequilibriums  accelerated_lifecycles  dislocations  hard_work  dynamic 
november 2011 by jerryking
The Long, Long Road From Idea to Success - NYTimes.com
July 4, 2009 | New York Times | By VINDU GOEL. Scott Anthony,
is the author of “The Silver Lining: An Innovation Playbook for
Uncertain Times.”

Corporations, the gold mine for software like this, have been reluctant to buy it until GreenPrint worked out a host of technical issues.

“It’s more difficult than you’d think it would be,” said Mr. Hamilton, chief executive of the start-up, which is based in Portland, Ore. “We had zero insight into what challenges would be in place for an organization of 50,000 users.”

GreenPrint’s travails are all too common for small technology companies. “The gulf between invention and innovation is often a huge one that many entrepreneurs can’t cross,” said Scott D. Anthony, president of Innosight, a consulting firm.

In other words, it’s not easy to turn a bright idea into a genuine business....“You see again and again the companies that succeed are not the ones that have the brilliant strategy,” he said, “but the ones that course-correct along the way.”
innovation  start_ups  Innosight  Scott_Anthony  messiness  book_reviews  silver_linings  uncertainty  books  course_correction  playbooks 
july 2009 by jerryking

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