Some articles grab you by the shoulders and shake you awake. This is one such summary of an article by Jared Hopkins in The Wall Street Journal. Definitely worth a read. Here are the highlights:
First lesson: go all in. If you have an idea that a small test group of your patients, clients, donors or customers think is great and they are willing to tell 10 more friends who will tell 10 more friends, go all in. You can’t be half-pregnant with a great idea. Pfizer’s CEO went all in, investing hundreds of millions of dollars to build a global manufacturing network, even though he knew his team was racing to develop a new vaccine based on a technology that had never been approved before.
Second lesson: follow through and oversight are critical. The CEO didn’t check in occasionally. He held twice-weekly meetings, constantly asking how they could make more vaccine and how they could make it sooner. When you start a new marketing initiative in your...
The Bed Bath and Beyond 20% off coupon is so ubiquitous that one of the mailers was even found by FBI agents in the junk drawer of notorious gangster, Whitey Bulger.
Comedians and television shows make fun of the coupon and I’ve done a fair amount of my own ribbing of the brand. At peak circulation, over a billion coupons were mailed per year. Nearly everyone has seen one of these or has one in their stack of mail at home. Many consumers keep them in their cars and purses, waiting to use them.
But did you know? The brand started in 1971 as a single store in New Jersey, Bed ’n Bath, selling sheets and towels “at prices low enough that people didn’t have to wait around for a semiannual department store sale.”
Founders, Leonard Feinstein and Warren Eisenberg didn’t want to operate their stores like everyone else. “We didn’t want to change prices and run sales. That’s a very costly way of doing business,” they...
At the time of this writing, there are only a few days left in the year 2020. To quote Leslie Jones and her thoughts about the year, “I would say it was a train wreck and shit show but that would be unfair to trains and shit.” Naturally, we’re all ready to move on from this year and to set big goals for 2021. I recently hosted an entire training program with members, helping them set new direction, aspirations and resolutions for next year. And, in that training, I reminded private practice owners to acknowledge the internal conflict and imbalance created by these new resolutions or goals.
I quoted a brilliant Harvard study and wrote about it recently. We’re all striving for something better and that’s OK but it is vital to our mental health to be content; to enjoy the harvest and not go looking for problems where there are none. Thus, you might find yourself toggling between peaceful contentment and constant striving. Our world, including yours truly,...
In 1942, Franklin D. Roosevelt was president and Lieutenant Edwin P. Ramsey ordered the last cavalry charge in American history. Nearly eighty years later, the presidents and CEO’s of Moderna, Pfizer, AstraZeneca, GSM, Sanofi, and others leading the vaccination charge, are our new heroes. Saddling up and replacing swords and rifles with needles, they are heading out to save lives throughout the world.
The Equal Employment Opportunity Commission (EEOC) has issued guidance that helps employers determine how to move forward, although their advice is just as we would suspect – not abundantly clear and subject to change.
Employers may encourage or even possibly mandate vaccinations, but any policy that affects the health and safety of your Team Members must comply with the Americans with Disabilities Act (ADA), Title VII of the Civil Rights...
In my work with clients abroad, I get to learn about all sorts of fun advertising regulations and standards. Because some of our client base is outside the U.S., I’ve been forced to learn quickly. In the United Kingdom, for example, they have the Advertising Standards Authority. It does nothing more than issue strongly-worded letters and seeing as how the British are so polite, even their strongly worded letters are quite nice, relatively speaking. Routinely, I have doctors telling me that I’m ruining the profession of audiology and that they find me repugnant. The British would never be so harsh.
In an annual report, the UK’s ASA listed 755 complaints from consumers about a Kentucky Fried Chicken ad which features a chicken dancing to DMX’s “X Gon’ Give It To Ya.” It was the most complained about ad of 2017. Consumers said it was “disrespectful to chickens and distressing for vegetarians, vegans and...
In The Law of Success, Napoleon Hill demonstrates how people have a tendency to reap where they have not sown. You see this with companies who assume the grass is greener and hop into another industry or mess with their core product or service, to their detriment. Coke did this with New Coke in the 80’s and it cost them billions in marketshare. Based on a few surveys, Coca-Cola thought they should make Coke taste more like Pepsi. The were reaping where they had not sown and they abandoned a very fertile garden and let it get overgrown with weeds. This went on during the early days with Uber, where they assumed they could continue to reap revenue while they haven’t sown in the field of employee satisfaction. You see it now with firms that have not embraced how consumers want to buy from them.
Conglomerates do this all the time. They take government contracts for granted, they take relationships with unions or local municipalities for granted and in short order, they...
In a recent edition of The AuDExperts Report, I wrote an article about hindsight and how looking backwards can help uncover bigger trends and assist learning, especially when applied to the future. It was a rather simple assessment of a complex prediction in the rise of the renminbi versus the U.S. dollar. To switch gears but remain in the same mindset, I’ll offer a rather complex look at a simple example: the Christmas tree.
Over 26 million Christmas trees are produced each year in the United States and Canada. This year, 70% of Canada’s 110,000 snowbirds, who typically migrate to Florida, Arizona and California for the winter, are staying put. As people avoid travel, holiday parties, shopping and dining out, all of the holiday energy is being concentrated at home. It’s now more difficult to find a Christmas tree in Canada and many parts of the U.S. than it was to find toilet paper back in March and April.
Sales of Christmas trees are up 25-40% throughout...
If you observe the most productive and most successful people on the planet, you’ll notice three very important similarities in how they achieve results. It doesn’t matter if the person is an entrepreneur, doctor, lawyer, politician, religious leader, actor, teacher or any of a million different occupations. Those operating at the top 1-5% of their chosen field or profession have these three traits in common:
You’ve heard me say, “Nothing really great ever happens by accident.” Warren Buffett, Bob Iger when he led Disney, Tim Cook at Apple, Michael Jordan, Judd Apatow, Sheryl Sandberg at Facebook – these high achievers are intentional with their time, attention and energy.
In an interview with a gentleman who sold his business for $1.7 billion. He explained how he did this, when others in his field typically grow to $6 or 7 million, exactly the size of the business when it purchased it 20 years ago. His...
From Melanie Evans and Alexandra Berzon in The Wall Street Journal: “During a pandemic, hospitals and local, state and federal agencies rely on a range of real-time metrics to respond to emergencies quickly. They need to know how many beds are available at each facility, whether hospitals need more nurses and the available number of ventilators and other critical supplies. That way, patients can get transferred quickly and medicine distributed to those in most need. The U.S. has tried—and failed—over the past 15 years to build a system to share such information in a crisis. When the pandemic started, nothing like it existed.”
In am interview with best-selling author, Ozan Varol, the author discusses the principle of “test as you fly and fly as you test” from his book Think Like a Rocket Scientist. The reason so many businesses and organizations fail to deliver on their promises and to operate at maximum efficiency is that...
Apple trotted out the iPhone 12 to adoring fans earlier this month, like a proud farmer showing off his prized bull at the county fair.
It’s dangerously thin! Gasp!
It has many cameras! Bazzinga!
It runs on 5G! Shazam!
It comes in the most-beautiful color of blue that even God is jealous!
Oh well. For as many things that make me chuckle at an iPhone launch, there is still plenty to pay attention to. I mean, my companies aren’t worth $2 trillion, so even this grumpy old curmudgeon pays attention when Apple sneezes.
I still think it’s hilarious how many tech writers collectively crush on Apple for a new phone color, just like I think it’s hilarious that an entire brand of shirt, Untuckit, can climb to a $600 million valuation based solely on the brand promise that “our shirts can be worn untucked.” Yeah. So can any other shirt.
But, I digress.