There are Only Two Fears…..Innovators and Risk: Not What You’d Expect…..A First Impression Business….Buffett: On the Abyss?…..Econ Recon: Increasing Velocity….Shameless Self Promotion

“As I have shared the observation of life with Warren Buffett over decades, I have heard him wisely say on several occasions: ‘It is not greed that drives the world, but envy.’ “ 

Charlie Munger
Partner at Berkshire Hathaway

There are Only Two Fears

Fear can keep us safe, but also keep us from success. A recent Inc Magazine article shared that we are born with only two fears; and fear of failure is not one of them. Take a minute to find out what these two fears are; why every other fear is acquired and “Why ‘Fear of Failure’ is Something You Need to Unlearn.”

Innovators and Risk:  Not What You’d Expect

And speaking of fear, it goes hand in hand with risk. In America like nowhere else, the innovator/entrepreneur is much celebrated for his or her willingness to take risk in pursuit of their goals. The only problem is that this is a myth.

Adam Grant of Wharton Business School has looked at those whose success we admire (and whom we assume took big risks to attain it) in his new book “Originals: How Non-Conformists Move the World.” His findings, summarized in this brief recap from the Smithsonian, upend some conventional wisdom about what makes a great innovator (plus how not to stifle this in your kids).

A First Impression Business

Most executives at some point have learned to their sorrow that the person they hired is not the person they interviewed. Many applicants’ primary skill is creating a great first impression that often has nothing to do with the core attributes required to succeed in the position. This HBR article offers a four step process to help you past the superficial allure of a well-spoken, attractive candidate and to uncover what really matters.

In a related article, check out the practice of “blind hiring”;  you might make a better hire if you don’t know who the applicant is!

Buffett: On the Abyss?

It’s time again for the annual missive from the Sage of Omaha.  Warren Buffet’s Annual Letter to the Shareholders of Berkshire Hathaway contains the usual recap of the performance of the legendary investor’s picks. Bloomberg (along with many others), offers the text of the letter with annotation of highlights for non-shareholders.

In a brief article on the NPR website,  Buffett also comments on much of the doom and gloom emanating from the presidential debates from both parties and has some comments to address the concern of many that we are “headed for the abyss.”

Econ Recon: Increasing Velocity

Most business people understand that the amount of money (“the money supply”) is an important economic driver. Equally important, but not nearly as well known, is the degree of circulation or “velocity” of that money in the economic system. Economist Brian Wesbury shares some insights that the increasing velocity of money combined with some other economic drivers, makes him a believer that improvement lies ahead.

Shameless Self Promotion Department

As a Vistage chair, I learned a long time ago that the best advocate for membership is…a member!   One Vistage member recently shared his take on Vistage on the pages of Inc Magazine…..check it out!