Sometimes you have to go for it

Yesterday, golfer Gary Woodland won the US Open at Pebble Beach. For non-golf fans, I will be brief on the golf part. What was most memorable, Woodland decided on a key moment to not play it safe, but be aggressive and play to win. He hit an absolutely brilliant shot that led to a birdie on a par five and put him two shots ahead of the two-time defending champion.

As a former athlete who was limited in talent to playing on high school teams, the act of “going for it,” is an act of courage. You may fall on your face, but by taking a risk, even if it is a measured one, it may make all the difference. Why does the best basketball player usually take the key final shot when the other team is expecting him to do so? Because if you don’t and fail, you may regret not going with your best.

And, as one star basketball player said, I try to take the last shot because I can handle failure better than others. That last statement is vital. Taking a risk is a lot easier if you know you can handle a negative outcome.

There is a great line from the movie “We bought a zoo,” with Matt Damon. His older brother taught him “all you need is twenty seconds of courage.” I think that is priceless advice. In the movie Damon’s character summoned the courage to speak with an enchanting woman he had never met. And, she eventually became his wife. What if we don’t take that chance?

Again, the risk need not be foolish, but sometimes it is more than OK to go for broke. A measured risk is worth the chance. Yet, we often overstate the risk and perceived embarassment of failure, when the actual risk is more measured. As I told my kids, “What if the person says no? No, is just an answer, but it at least it is one.” Without asking, you will never know if there is interest in your company, your resume, your idea, etc.?

So, find that twenty seconds of courage and go for it. The answer may be no, but at least you gave it a shot.

 

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Coal can’t be made great again says conservative economist

Walter Block is a professor of economics at Loyola University in New Orleans and a Libertarian. He recently penned an op-ed piece in The New York Times called “Coal can’t be made great again.”

Block sets the context for free-market thinking using more basic purchases – shoes, clothes, restaurant meals. This “leave it to the market forces” is a mantra for free-market Republicans. Yet, as Block notes “One would think that Republicans would apply that same logic to our fuel industry.”

He adds while government has a “legitimate role” in ensuring the safety of nuclear and other plants, “it should not favor, or oppose, nuclear power, gas, oil, coal, wind, water, solar, or any other source of energy over any other.”

He also notes a couple of observations of data points which reveal “the market is moving away from coal.” First, he writes “In 2016, American reliance on coal had dipped to 30% of total electric energiy expenditure, from about 50% in 2000. In contrast, natural gas and even wind, solar and water power are becoming less expensive, and will likely take on a greater share of the overall energy industry.”

Second, he notes “For the first time, as predicted by the Institute for Energy Economics and Financial Analytsis, in April, renewables generated more electricity than power plants fueled by what was once called ‘King Coal.'”

It is through these lenses, he views the efforts to subsidize coal use and place tariffs on imported solar panels as a political attempt to “pick winners.” We should not be “propping up coal” at the expense of alternative energy sources.

In my view, we are passed the tipping point on coal. New plants are too costly to build and the present value cost of acquiring, transporting, burning, storing the ash, health and environmental degradation and litigation of coal exceeds other sources. Further, the solar energy jobs are 4x the number of coal jobs. And, wind energy is soaring in growth, especially through the plains states.

This is not a US-centric result. Renewables are growing rapidly abroad with Germany now getting more energy from renewables than coal. China has been heavily investing in solar panels. But, my favorite global example is southern Australia is now solar powered using American Elon Musk’s battery storage and a French company’s installation of solar panels. Three continents came together to forge a renewable future.

While I agree with Block for the most part, government can play a role to help move forward cleaner energy initiatives, at least temporarily. So, the temporary 30% tax credit for solar power installation makes sense, especially when our Department of Defense continues to cite climate change as a significant threat to national security, even under the current president.

But, as the renewable costs have become more on par from a production standpoint, they can stand on their own without the tax subsidy. Embracing future technologies that will drive the economy is essential. As an example, yesterday, Toyota announced the movement from 2030 forward to 2025 when 1/2 of their vehicle sales will be electric cars, with batteries being made in China. So, if our leaders look backwards too much, we might get passed by.

 

 

 

 

Credit and blame

UK Prime Minister Theresa May is stepping down today. This imperfect person has received a huge amount of blame for the failure to deliver a Brexit deal. Yet, I believe she had an unenviable task of herding the many and varied egos in Parliament who did not focus on getting the job done.

Living in America, we see this first hand, as posturing is more important than doing. Even before the fear-mongering and storytelling that has replaced civil debate, I have been disappointed in the demise in bipartisanship behavior.

Ironically, the last period of significant legislation occurred when GOP Speaker John Boehner ignored the Freedom Caucus and worked with moderate House Democrats to pass bills the Democrat led Senate would pass into law. He did this enough, that he retired before the Freedom Caucus rebellion ousted him.

Now, only handfuls of significant laws are passed as neither major party wants the other side to get a political win. Actually helping people is secondary to the perception of looking good. We have a president who does the same focusing too much on perception. He even controls his messaging taking credit for things he has little to do with and laying off blame on others when he the finger could be pointed at his efforts.

Blowing a problem out of proportion, making it worse by not addressing the real issues, threatening an action that gets push back from all sides and then coming to agreement on efforts that are already underway, is all a show that is harmful to relationships and commerce. People and companies need more stability in their lives, not less. When applecarts are upset, they have to look at other options.

This month, the US economy will be celebrating ten years (120 months) of economic growth. The president has been sure to pat himself on the back for this and he did provide some short term tailwinds with the tax cut and regulations cuts. Yet, he has only been president for going on 29 months. That means, 91 months of this growth were under Obama and the stock market more than doubled under his watch.

To be frank, presidents get too much credit and blame for the economy, providing at best headwinds and tailwinds. The headwinds this president has caused are more long term – debt, tariffs, immigration focus, pulling out of trade deals, etc. The economy is slowing its growth and more slowing is expected to occur. But, a given is this president will lay blame on others as it slows – he started last fall making the nonpartisan Federal Reserve the bogeyman.

Credit and blame. I have often quoted a leadership consultant I know, who said a great leader deflects credit to others; a bad leader accepts credit even when not due. Think about that as you hear or read tweets from leaders.

A lot of stress balls are needed

Dr. Tara Narula on CBS Morning News cited a statistic today from Workforce Initiative that 64% of people feel stressed at work. In an earlier survey, the American Psychological Association noted the following about stress:

“63% – The percentage of Americans who say the future of the nation is a significant source of stress. That’s higher than the percentage who are stressed about money (62 percent), work (61 percent), or violence and crime (51 percent).”

We are a stressed out nation. I actually think these numbers understate the extensiveness of stress, it just may be some folks have been able to put lids on the simmering pots.

I believe stress levels have increased by the divisiveness in our country and a highly contentious president where too many things become issues, when they need not be. He did not create division, but he exploits and perpetuates it on a regular basis. He truly wears me out.

So, what can we do about it? First, we need to disconnect more from our social and work media. On the latter, companies like you working off the clock on their behalf. If you cannot quit cold turkey, manage your activity in set pockets of time. As I told a colleague, it does not impress me that you sent an email at 10:30 pm. Disconnect and take some down time.

As for social media, please recognize when you look at Facebook, Instagram, etc., you are seeing the Sunday dressed version of a person’s life. They tend to post the polished versions of what is happening. They tend not to share the warts that they hide from the public. I recognize some folks over share, but I don’t want to be that aware of another’s life, as you may overreact when it is not wanted or needed.

Second, we need to better govern our news sources. I am guilty of this, but need reduce the hours of watching and reading and focus on reputable sources. I do focus on better sources, but often over-indulge. Watching so-called experts shout at each other is not news. Watch shows that let people talk civilly. Watching night time talk show hosts or high-volume online hosts is not news, it is opinion disguised as news. And, read and watch news that state when they get it wrong.

Third, here are two additional rules of thumb. Be careful of getting news from public figures. Before 24×7 segmented news sources, politicians used to campaign off rhetoric and govern off facts. Now, far too many govern off rhetoric. And, take anything the president says or tweets with a grain of salt. Not only is he noted to be very untruthful by several data sources and former associates, he self-professes a preference not to study issues, bragging on his gut instinct. So, he is not a very good source of news.

Fourth, find healthy, sustainable outlets for stress management and avoidance. The word sustainable is as important as healthy. We are creatures of habits, so we should replace a stress causing habit with a stress reducing one. Doing a walk, jog, yoga, pilates, workout or meditation need not be too time intrusive to help. Or, it could be reading a book or magazine or watching a favorite show.

Stress abounds and there are not enough stress balls. But, before we succumb to that stress, remember the words of advice from Mister Rogers – you do not have to be sensational to be loved.

Don’t be difficult to work with

A lesson I have witnessed often is the more difficult you make it to work with you, people will find other resources. Challenging employees better be good at what they do or they may be shown the door or encouraged to leave. If a company makes it difficult to work with them, buyers from and sellers to the company, will seek other options.

Here are a few real examples:

– A company known for shopping for services annually eventually ran out of bidders because the cost of doing business became too high (one company would just throw their Request For Proposal in the trash can). Sellers and buyers who promote relationships have more fruitful long term experiences.

– When Master Service Agreements became commonplace, the attorneys in our headquarters were as difficult to work with as attorneys at some of our clients. We lost a $1 million sale on an idea we raised and the client loved because of our legal obstinance. The second bidder got the work on our idea. That hurt.

– An employee of ours could never be satisfied and complained often. After she complained in my office for the tenth time about how her last employer did better at something, I said to her “We are obviously not meeting your needs. You are doing good work, but why don’t you look elsewhere.” She did and left. What she did not know is we had a continual growth mindset, so we were always talking with people. Her replacement was one of the best project managers I ever worked and she was a very congenial person and eventually an effective manager.

– A fellow consultant had an arduous client who was always asking for added scope services, which he often refused to pay for. After many months of this, the client called our CEO to complain. My colleague pulled up three competing consultants contact information and provided them to this client. In essence, he fired the client. He said it was one of the best decisions he ever made.

A US farmer noted on PBS Newshour yesterday, we cannot just turn off the tariff spigot and start the pipeline again. His buyers have found other options. As a business person, I have noticed this president fails to appreciate what it takes to get things done. We have witnessed this repeatedly in rash mandates that have people (even his own) scurrying. That is poor leadership and worse management.

Do you have any examples?

A few observations – big and small

Let me offer a few observations trying not to only speak of the man who shall not be named.

– A friend used to have sayings on his voicemail greeting. My favorite one is “always tell the truth as you don’t have to remember as much.”

– The man who shall not be named (MWSNBN) said he did not like “negative and critical” people while referring to a couple of British leaders. Really? Have you read your tweets?

– Another friend said “a man will never be shot while doing the dishes.”

– The MWSNBN failed to get buy-in from his caucus on placing tariffs on Mexico. Apparently, the caucus is not happy, with the Senate leader saying the MWSNBN would use “tariffs to solve HIV and climate change.”

– A person who is accountable and says I am sorry for a mistake is an exemplar for others to follow,

– The MWSNBN once again claimed he did not say something when a released audio recording said he did. What should have been a minor issue with a mea culpa, became a bigger one. This is not an isolated occurrence. “I am sorry” should not be so hard to say.

– A person who awakes and believe it will be a good day stands a better chance to have one than someone who believes the opposite.

– The MWSNBN awakes and tweets in a stream of consciousness. By the time he gets to work by mid-morning (per Bob Woodward’s book “Fear”), he tends to make his day worse not better. His biggest enemy is the one who looks back at him when he shaves.

– Our leaders should help us be better people. They should represent our better angels. Nelson Mandela, Warren Buffett, Paul O’Neill (retired CEO of Alcoa), Bill Russell (who won 14 NBA, NCAA and Olympic championships) are examples of great leaders. They made their organizations better.

– Great leaders do not tell 10,000 lies, do not bully people and think largely of themselves. A great leader deflects credit to others, while a bad one assumes credit even when it is not due, per a lesdership consultant.

Now, I am going to go do the dishes.

 

 

Stop in Nevada

“And she doesn’t know what’s comin’ but she’s sure of what she’s leaving behind,” sings Billy Joel in “Stop in Nevada.” This lyric is pertinent as a stop in Nevada would reveal the only state with a female majority in the stafe legislature.

And, it works well. Nevada has far more bipartisan legislation than any other state. The women legislators find common ground and show men the path forward. As 49% of the state house consists of men, their votes are needed to pass legislation.

The women represent both parties. They socialize and do community service and events together. Republican Assemblywoman Melissa Hardy and Democrat Selena Torres sat for an interview on CBS Saturday Morning News. These two have worked across the aisle to push a bill to improve education.

Hardy said. “I think it has been the most incredible experience of my life,” Torres noted, “I know we have over 90% bipartisanship on the bills passed so far.”

This is what our country needs more of. We need representation that looks like America. Two states I won’t mention have only 15% and 17% female membership in their legislatures. It is important to increase those percentages as women tend to be the primary healthcare giver of the family and make up a higher percentage of teachers. So, dinner table issues of medical bills and education will get more weight.

I also believe women will help us break through zero-sum politicking (I must win and you must lose). It should be noted it took ten female US Senators to avoid the US defaulting on its debts in October 2013 after the government was shut down. This last minute effort was highly commendable and a relief to the male leaders who could not stop their posturing long enough to keep us from driving off a cliff.

We must work together to solve problems. We must demand our politicians do the same, otherwise they are shouting at the wind or come up with extreme versions of laws. I am enthused by the new majority in Nevada as well as the wave of women who won US House seats last fall.

I hope they can break down barriers. The US Congress removed an area where legislators socialized across party lines. Now, about 40% of their time is doing fundraising phone calls, per a retired Congressman. It is hard to work on anything, much less biparisan laws, when you don’t take the time figure out how to pass laws together. Maybe, just maybe, these women will change that paradigm.