BAD NEWS BEARS?

Maybe A Recession Would Be Good

The “bears” are in control of Wall Street. Stock prices have been plummeting or extremely volatile since August. The US dollar is weak against foreign currency benchmarks and the price of oil is at an all-time high. Do you feel like you are spinning out of control?

Well here’s a shot of reality: the US economy has been weak since 2000. It had been artificially propped up since then by over-spending consumers and the wars in Iraq and Afghanistan. We were putting band-aids on a hemorrhage. It was a false economy.

Credit was easy to get. It helped fuel grotesque spending sprees by consumers and the US government. Now, the “bills are due” and people (and our government) can’t pay. So the housing market collapses (a tragedy as people do need a place to live) and the dollar is weak (thanks to ignorant politicians who keep printing more worth-less money).

The fear on Wall Street (and in Washington) is that people are going to stop spending money, or more precisely, using their credit. They are going to stop being consumers and tighten control over their discretionary income. Well isn’t that what we tell people they need to do to be financially successful?

If credit had remained tight during the early part of this century, people would have sacrificed and not spent money on worthless consumer items. The average family would not have $10,000 in credit card debt and the housing market would have accommodated people respective to their incomes and not to some whimsical credit wizardry.

So maybe a recession will be good for the American psyche. It will take away the notion that a high standard of living is a US citizen entitlement. Any standard of living is earned through hard work and dedication and paid for with diligence and reasonable expectations, not magical, hard to understand credit.

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GROWTH <> LEADERSHIP <> EXCELLENCE

© 2007 3 Minute Learning LLC

INSPIRATION

Everybody Needs A Lift

There are days that seem impossible. From the moment your feet slide out of bed and touch the floor, everything appears to go wrong. That’s why it is so important to have family and friends that are supportive. Those “kind of days” are also why it is great to have inspirational movies to enjoy and inspire.

Such a movie is The World’s Fastest Indian starring Sir Anthony Hopkins. Hopkins plays Burt Munroe, an aging inventor barely surviving on his pension check. The story of Munroe is based on actual events. It illustrates one man’s quest to fulfill his life-long dream: riding his re-tooled Indian brand motorcycle at top speed at the Bonneville Salt Flats (Munroe is from New Zealand and traveling half way around the world to the USA would be no small feat in itself).

This is a heart-warming, gently told story of Munroe’s quest. His demeanor and struggles are an inspiration. At every turn you’re pulling for him to complete his dream. His courage leads others to help and eventually he rides his home-made motorcycle on the salt packed course.

You watch this film because you want a piece of Munroe for yourself. You want to be understanding even under great duress. You want to be generous even when you have very little. You want to complete your life-long dream even against terrific odds.

Take a couple of hours to watch this DVD. Watch it with family, friends or even by yourself. You’ll feel good and you’ll feel invigorated. More importantly, you’ll find the courage to keep daily troubles and issues in perspective.

If is part of life. You can’t control everything. Not everything will move in a positive direction, no matter how noble the cause. You do your best. Inspiration helps keep your focus and perspective positive.

That’s the lesson from the story of Burt Munroe.

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GROWTH <> LEADERSHIP <> EXCELLENCE

© 2007 3 Minute Learning LLC

CAPABILITIES

Comfort Zone Limits Potential

If you wanted to run a 10K next spring, you would start building endurance and strength by running each day. At first your goals would be simple: run up to 10 minutes at any speed – just achieve the time and repeat it every day. Eventually, you would translate time into miles and then add speed to reduce your time – more miles, less time. Your plan would be to be able to run the 10K distance comfortably several times before you enter a race.

At some point during your training you begin to realize that your body has responded to the physical test and you feel like you can push harder. The question now is when do you leave your comfort zone and push your limits?

Pushing your limits helps you realize the breadth of your physical capabilities. How often can you apply a burst of speed, maintain it, slow down and recover, ready for the next sprint? The more times you practice this staccato regimen, you become stronger and faster. This is how athletes improve their performance; this is how you improve by pushing yourself out of your comfort zone. (You can actually measure your performance improvement by mapping your heart rate. Your resting heart rate goes down and the time it takes your heart rate to recover between sprints becomes shorter.)

When you physically leave your comfort zone the rewards begin to mount. You get faster beating your previous 10K performance; you lose weight and feel stronger; people congratulate you on a good performance. It is invigorating!

Mentally, the strategy is the same. Too many times people work from their comfort zone. It’s an autopilot that leads to the observation that the person is mailing it in, a reference to the lack of effort. In school, most students work in his or her comfort zone. A teacher gave assignments and tests and the students offered a measurable performance. Even students who garnered top scores were pretty much on autopilot since meeting teacher expectations are fairly easy.

Schools give students what they need: a foundation for learning. It is the student’s responsibility to move out of the comfort zone and challenge his or her ability to build thinking to higher levels. Just like preparing for the 10K run, that kind of movement from comfort zone to higher performance does not come without training and dedication.

Resistance to new ideas is a result of people unwilling to leave their comfort zones. We all like the idea that today will be much like yesterday. The problems, the preparation and the meetings will resemble familiar territory. We like to change but at a slow pace. This allows for gradual integration of change into our comfort zone without much stress. As the saying goes, “Insanity is the belief that doing the same thing over and over again will yield different results.” Stress is the foundation for higher performance.

Just like you can’t run a 10K without practice and training, you can’t become a top level critical thinker without practice. Building thinking skills starts by reading. Set aside 30 to 45 minutes a day to read. Your reading doesn’t always have to be boring – it can be a combination of fiction, non-fiction and books and magazines. The goal is to train your mind to focus on the content and improve your comprehension.

A great learning tool while reading is to have a conversation with the author. Read a passage and talk it out: Do you agree? How can you use that information in your work?

Use the white space along the edges of the page to write notes. At the end of the session, what do you have that you can use now? Every session should end by finding at least one nugget of learning that you can immediately apply. Maybe you just read about a breathing trick to help you get faster in your next 10K!

Your mental goal is to be able to switch gears – just like when you sprint during a run. You want to be able to go from watching TV or having fun with family or friends to cracking open a book and immediately focusing on the content. You want your mind to switch gears from autopilot to focusing on text. You want to be able to do it quick and for a sustained period of time.

You want to train your mind to create role-playing scenarios based on the text that puts you into situations and how you would react. Your creative daydreaming sees you employing new thinking and being successful. You do not want an untrained mind that reads several sentences and then starts wandering off to thoughts about work or “what am I missing?”

It has been asserted for a long time that people fail to use all of their capabilities. Part of the problem is we don’t have much experience or opportunities to push our limits. You learn that from participating in physical activities. If we don’t extend our reach, we don’t improve.

Mental capabilities are the same. If we don’t push our thinking to new levels, we are stuck in our comfort zone. Hence, there’s a good chance we’ll miss the next great opportunity.

Exercise your capabilities today.

Visit www.3MinuteLearning.com

GROWTH <> LEADERSHIP <> EXCELLENCE

© 2007 3 Minute Learning LLC

HIGH PRODUCTIVITY

US Workers Top Productivity Study

According to the International Labor Organization, US workers are more productive than any other worker in the world producing $63,385 of wealth per person per year. Also, US workers put in an average 1804 hours of work in 2006, again leading the major economies of the world. (Note: a full-time employee equivalent is 2080 hours per year; that includes vacation, holiday and sick time.)

The recent update in the US Census reveals that the average wage is $17.52 per hour or $36,441.60. The median salary for men is $42,261 and household income is $52,423.

Basically, each worker in the US produces 80% more than his or her wages. In general, men produce about 60% more wealth for their employer as compared to the median salary.

These numbers reinforce the age-old axiom that a company’s best resource is its workers. Considering the poorer productivity output in Asia and Europe (in addition to the massive recalls of Chinese made consumer products), does outsourcing really pay high dividends? Has the furor surrounding outsourcing been over-blown? Are the numbers regarding outsourcing sensationalized to capitalize on fears held by small sections of the US population?

Capitalism is built on making profit. US companies are not going to sacrifice profit just to say they have a global presence. The lower annual wages now makes US workers more attractive to companies both in the US and from the global market. The last piece of the puzzle that needs to be addressed is universal health care. Once that is out of the employer’s domain, US workers will be hired, paid competitive wages and retained.

The most productive workers will always win the employment game. It is the individual’s responsibility to make sure they have the right training and education to be ready for the next employment opportunity.

Credit Follow Up

In the last column it was stated that money makes money and to avoid credit card debt. The latest figures on debt from Cardweb.com indicate that the average credit card debt per household jumped from $2966 to $9659 since 1990. That represents long-term debt that will never be paid based on the upswing in trends.

The US economy may be based on credit but it doesn’t mean you have to sell your future. Smart credit is buying a house or real estate; dumb credit is buying a plasma TV.

Quote

A business leader without character is just slime in packaged in tissue paper.

Visit www.3MinuteLearning.com

GROWTH <> LEADERSHIP <> EXCELLENCE

© 2007 3 Minute Learning LLC

IN OTHER WORDS

3 Words You Need to Avoid

When coaching athletes, the rule is always say what you mean. For example in baseball, if a coach offers a strategy to his pitcher about the next batter, which scenario is better understood?

1. “This guy is a power hitter so keep the ball high and tight or low and away. Don’t throw down the middle or give him any fastballs. Don’t be afraid of him, just don’t give him anything good to hit.” or,

2. “Throw curveballs low and away.”

You probably agree that the second statement is exactly what you want to hear if you are that pitcher. The instructions are clear.

In the first scenario, you probably heard those three little words that are so often used in conversations, “In other words”? If you need to explain what you just said by using different terms, you just lost your “audience” and their minds are already off to another venue!

A good coach knows that you must give concise instructions on the first pass and not long winded explanations. A good trick to use is to role play your thoughts in your mind prior to the conversation. What do you anticipate the person’s response will be to your instructions? Will it be the outcome you are seeking? If not, work backwards from the outcome and provide step-by-step guidelines, just like a recipe for a great dessert. Make your instructions “right” on the first attempt and eliminate vague or conflicting statements. Here’s another example that is very common when getting driving directions from someone (and yes, GPS units are making these types of instructions passé).

1. “Go to the intersection and stop. On the left there is a gas station. You’ll see an old building on the left. Straight ahead there’s a supermarket. Go right and in about a mile the road splits and on the left there’s an apartment building and on the right there’s a bank. Go straight. I’ll be waiting for you on the left side of the street about a half more mile.” or,

2. “At the first intersection turn right; continue to follow the main road for about 1.5 miles and I’ll be waiting for you on the left side of the street.”

Again the second choice is clearer than the first option. When it comes to giving instructions of any kind, “less is more.”

Sometimes the reason why people trip over their words and make instructions difficult to follow is because they may not know the subject area well enough to coach others. Other times is because they know what hey want to say but failed to either role play the conversation or write it down and study the sequence for clarity. Many times people fall victim to the 30-second sound bite mentality where they keep talking hoping to “hit” on the right words.

If you are on the receiving end of one of these “ramblers”, try to capture the essence of what you thought you heard and repeat it back to the person. If you want to support the person because you know for some reason they were in an awkward situation, tell them that you want to go and write down what was said and bring it back for a final run through before you begin. This promotes a great working relationship and does not make either side feel foolish because of a misunderstanding.

The hardest communication we do is to make our thoughts understood by others. If you catch yourself saying “In other words” you know what you said has a good chance of being misinterpreted. The strategy now would be to “call a timeout” and go write down the instructions. This will eliminate wasting time because of a misunderstanding.

One final thought: watch your use of double negatives when giving instructions. A classic is the use of “not only but.” Again if you have more than one instruction, present them as a list and forget the cutesy stuff like not only but.

Money Makes More Money

You have heard the old phrase “put your money to work.” Saving your money in an option like a mutual fund provides you with dividends and capital gains that can rapidly increase your savings. Even a conservative portfolio of stocks, bonds and funds will significantly outperform a typical savings account every year.

According to the Federal Reserve, about 50 percent of US families own stock. Among the wealthiest 10 percent of the US population, 91 percent of families held stock with a median value of nearly $200 thousand. Among those at the bottom 20 percent of income, 12 percent of US families owned stock with a median value of less than $7500.

If you want to be wealthy, you need to follow the saving habits of wealthy people! A credit card will never offer long-term financial security.

Visit www.3MinuteLearning.com

GROWTH <> LEADERSHIP <> EXCELLENCE

© 2007 3 Minute Learning LLC