“Change is Good, You Go First”….Be a Leader: ” take the blame”…….How “they” know before you do….Econ Recon: PTSD-Economic Version

“When the facts change, I change my mind – what do you do, sir?”

John Maynard Keynes, economist

“Things change. Time changes them. Great nations, and institutions, rethink. But only if they‘re great.”

Peggy Noonan, WSJ Columnist and Speech Writer for President Ronald Reagan

“Change is Good; You Go First”

So goes an old Dilbert Cartoon. So, just how do we “go first?” The essence of being a manager has been eloquently summed up by Former Porsche CEO  and longtime Vistage Speaker Peter Schutz who reminds the Vistage groups he visits that “Managers are unnecessary, until something changes.” Things can always be counted on to change but people seem genetically programmed to resist doing anything about it; including CEOs who have a tendency to be human themselves.

What do about it?  Another Vistage Speaker, Andrea Simon, in a short but significant recent Forbes article looks at  Why We’re so Afraid of Change, with some practical, and necessary tools that CEOs and Senior Executives can use to get everyone, including the CEO, on offense instead of defense.  Check it out for some handy tips on what is perhaps your most important job, and some insights on how to do it.

Be a Leader: “Take the Blame”

A Vistage member sent in a brief (less than 2 pages) article in the Harvard Business Blog Network that deserves every leader’s attention.

From childhood, most of us have tried to avoid responsibility for negative outcomes because of the fear of the punishment that might accompany “being the fall guy.” This thoughtful article suggests that “Contrary to what you may feel in the moment, taking the blame is the power move, strengthening your position, not weakening it.” Take a few moments and explore  “Why You Should Take the Blame”   …..and share it with your team.

How “They” Know Before You Do

Businesses have access to more data than ever before. Companies have always analyzed the data available to them to help determine what you’ve already decided to buy in order to sell you more of it. However, oceans of previously unavailable sales data and powerful new analytical techniques are helping companies figure out what you’ll buying before you’ve told anyone,  or are even aware of  it.

A reporter at the Atlantic Magazine shares the experience of getting the baby catalogs in the mail before he and his wife had announced the impending event. He asks   “If wasn’t the pregnancy tests, why did baby catalogs start arriving at our house?  A bigger question: How are you and your business tapping into this data to get a leg up on, or stay even with, your competition?

Econ Recon:

PTSD (Post Traumatic Stress Disorder): Economic Version  In his latest “Wesbury 101” video,  First Trust Advisors economist Brian Wesbury looks at how the bad news of the moment such as market pullbacks, gold prices, floods and the uncertainty created by a constantly changing regulatory environment can make executives less confident  than they should be regarding the real, longer term trajectory of the economy. Spend a few minutes with Dr. Wesbury for his clarification on the bigger picture.

What Do All the Economic Headlines Mean?   Asks Vistage Staff economist and ITR Economics Principal Alan Beaulieu. While not as optimistic as Wesbury, Mr. Beaulieu concurs that the economic headlines need to be viewed in a longer context; and he warns  In his latest blog entry that while a downturn will occur, it’s a ways off and there is time for prudent executives to get ready.