What academia doesn’t teach you is that the real purpose organizations hire you is to generate revenue. Pure and simple. How do you do that? Look around and ask yourself, how can I increase productivity, efficiency, effectiveness and profitability in my area of responsibility? If you work in a non-profit arena, you ask yourself the same question. It is not “profit” in your case, it is “surplus funds.” In reality, there is no such thing as “non-profit.” You have to have money to open the doors and turn on the lights, don’t you?
“The company is a design philosophy. It’s about solving problems for every room in the house.” That began my recent conversation with Alex Lee, scott levy fuel online of OXO. I heard Alex speak at the GEL 2008 conference last year. His presentation was one of my favorites and he shared his company’s innovation process with us, as well as some of the submitted ideas that were non-starters and standout winners. Alex was funny, engaging, and brilliant. He was passionate when discussing the company though we learned very little about him and his career. I was curious about him and am grateful to Laurea de Ocampo at GEL for connecting me to Alex so I could interview him.
The other benefit of getting everyone to laugh early in the speech is that it provides what psychologists call ‘social proof’ for the audience. People tend to believe behaviour is correct or can be justified when they witness other people doing it. So if they see and hear other people laughing, they feel OK about doing it themselves. In other words, once they know it’s OK to laugh, there is a far greater chance that they will do.
At age 60, immediate annuities pay around 7.5% for a single life and 6.5% for a joint life payout. That means it takes a lot less money to guarantee a higher level of income in the future.
The only exception is if there is a key employee or manager you want to develop. If you want them to better understand the strategic issues facing the company, then it might make sense for them to be a part of the process.
Watch for opportunities to commit more capital as the price of the stock drops – yes- drops. This is counter-intuitive. You may be tempted to dump your stock thinking that everyone else is doing just the same thing. If you have selected a best-of-breed business these temporary miss-pricings by Mr. Market are great buying opportunities for you. Once you have determined the fair market value, wealth creation is a simple process, no matter what the investment vehicle – buy low and sell high. Ideally, you want to only commit up to 25 percent of your total capital to any one purchase.
This could include information about getting out of debt in case you are in need of this kind of information. They could also give you information about people who would be in a position to assist you in this place. This could include debt consolidation firms. These are people who would assist you to get out of debt that you would be in.
So all we can do is speculate. There has been some speculation, but not a lot so far. However they seem to be making the moves that say they will become a competitive force. They hired a known CEO. They are acquiring a company. These are steps in the right direction. However we don’t know, and won’t know anything until they are ready to talk more. So all we can do right now is stay tuned.