Linchpin: Are You Indispensable?
January 26, 2010 by Ed McLaughlin
Seth Godin is widely viewed as one of the sharpest marketing minds of our time. In my opinion, he’s more than that – he is a true change agent. His latest book, Linchpin, could not have come along at a better time.
We’re in the midst of the 22nd recession since 1900, and so far it’s been an ugly one. And while the rate of job losses has recently slowed, many companies are still in retreat – freezing salaries, raising health-care premiums, and eliminating training programs.
If you’re a linchpin, this is an incredible opportunity.
I was privileged to attend the book launch in New York City. During the presentation, I learned that the original title of the book was The Chef, The Cook, and The Dishwasher.
In a restaurant, the dishwasher is clearly the lowest job available. Someone will always have to fill this kind of role, but that someone doesn’t have to be you.
The cook follows a recipe – make a particular dish one way, every time. Everyone can follow instructions, so it should come as no surprise that there are a surplus of people available to perform these jobs. And since a cook doesn’t create any real value, they have little hope of making more than an average living.
The chef is different altogether. A chef may be aware of recipes, but chooses not to follow them. Which means that unlike the cook, her best work is completely unknown. By creating instead of following, she turns her work into art.
In the post-industrial age, the artist is the one in demand. Linchpin is the type of book that will push you down this path. It goes on sale today (January 26th). I hope that you’ll pick up a copy – it is by far Godin’s best yet.
Tagged: book reviews, career, change, corporate culture, employee motivation, employee retention, employment practices, hiring practices, leadership, linchpin, marketing, personal development, Seth Godin
Pace Yourself
January 21, 2010 by Ed McLaughlin
In 2003, the Women’s United Soccer Association (WUSA) folded after three years in operation. The cumulative losses amounted to approximately $100 million.
At first, it is difficult to wrap your arms around the magnitude of that loss. But what bothers me most is how quickly they folded. After all, this was the first women’s professional soccer league in the world. The owners should have expected success to take time.
ESPN began in 1979, but didn’t turn a profit until 1985 (six years). Turner Broadcasting Systems lost money during its first twelve years of operation. Robert Murdoch expanded into the U.S. market in 1973, but wasn’t profitable until 1983 (ten years). Airbus? They took twenty years.
The list goes on. What concerns me is that I regularly talk with entrepreneurs who think that the only way to win is by front-loading their idea with lots of cash and staff. The reality is that even if you have a great product, the smart thing to do is operate with as little money as possible. Had the WUSA done that, they might still be around today.
I’m not suggesting that you stop thinking big. Keep doing that. Just act small.
Tagged: bootstrapping, business, entrepreneur, startups
Urgency
January 13, 2010 by Ed McLaughlin
I’m in the process of launching a new business. And since I’m booked during the day working on other projects, a lot of the pre-launch work takes place late at night. This actually helped create a bond between me and my business partner – we were pleasantly surprised to discover that one could email the other at 3:00 am and get a response.
A lot of people think that we overextend ourselves. “Slow down,” we’re told. “Take a breath every once in a while. You can’t run at the extremes all of the time.”
We disagree. The days of moving slow are over. Look at the leaders of yesterday – battered, bruised, and frozen in fear. Running at the extremes is now an important component of winning.
How fast do you run?
Tagged: business, entrepreneur, leadership
Leaders Don’t Cry
January 6, 2010 by Ed McLaughlin
When a kitten is confused or in danger, it will do nothing but cry for help. Sooner or later, it’s mother or owner will carry it to safety.
Too many in business have the same attitude.
That’s a problem. It’s a problem because although it looks like we’re starting to emerge from the recession, we’re not out of the woods yet. So the stop-loss efforts made by many (job cuts, salary reductions, training program elimination) have accomplished little more than buy time. Yet time is running out, and there are still fundamental business challenges that need to be addressed.
Crying for help – as many are doing – isn’t going to solve anything.
You can improve your business a number of different ways. But before you do anything else, make sure you have the right attitude. Because no one is going to carry you to safety.
Tagged: attitude, business, leadership
What Matters Now
January 4, 2010 by Ed McLaughlin
2009 was a year that many would like to forget. Sales, profits, and corporate morale declined, and in some cases evaporated altogether. “The Great Recession” did a number on us. Does this mean we’ll have to limp through 2010 as well?
Of course not. But we will need to make changes if we expect this year to be better than the last.
Start by ignoring the negative news. Research after the economic downturn of the 1990′s found that those exposed to excessive negative news reports had lower levels of motivation and engagement than those who ignored the news entirely.* Remember, sometimes media folks will overreact to something in order to make a point.
Second, redirect your energy on new ideas. Fortunately, Seth Godin compiled a (free) ebook that will help you get started. “What Matters Now” was written by more than seventy big thinkers – contributors include Guy Kawasaki, Gary Vaynerchuk, Hugh MacLeod, Dave Ramsey – the list goes on.
To download, click on the ebook cover above. Or simply go here.
Some of the ideas will apply to you; others will not. But each one will get you to think, and hopefully lead to even bigger ideas when you discuss what you’ve read with others.
Here’s to a great 2010!
* I made this up. See what I mean about making a point?
Tagged: business, creativity, eBooks, entrepreneur, innovation, marketing
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