Erich Stauffer

Tag: Economics

  • Dan Pink on the Surprising Science of Motivation

    TED has a talk entitled, “The Suprising Science of Motivation,” where career analyst Dan Pink examines the puzzle of motivation, starting with a fact that social scientists know but most managers don’t: Traditional rewards aren’t always as effective as we think.

    With a trio of influential bestsellers, Dan Pink has changed the way companies view the modern workplace. In the pivotal A Whole New Mind, Pink identifies a sea change in the global workforce — the shift of an information-based corporate culture to a conceptual base, where creativity and big-picture design dominates the landscape.

    His latest book, The Adventures of Johnny Bunko, is an evolutionary transformation of the familiar career guide. Replacing linear text with a manga-inspired comic, Pink outlines six career laws vastly differing from the ones you’ve been taught. Members of the Johnny Bunko online forum participated in an online contest to create the seventh law — “stay hungry.”

    A contributing editor for Wired, Pink is working on a new book on the science and economics of motivation for release in late 2009.

    Traditional rewards aren’t always as effective as we think.

    All of these ideas will be especially relevant to the newest entrants to the workplace, the Millenials/Gen Y. I have been doing staffing models for a while now. To make this all really work, the requirements/expectations and measurements for each role need to be transparent. “Get your work done” is viable only when people truly understand what others think “getting your work done” really means. So, each employee needs to know the results that are expected.

    In my experience, organizations can miss the ball when they fail to motivate and innovate. They give people responsibility and lattitude, but they don’t clearly define the results expected and how progress will be measured. As we know from the Law of Focus, what we measure only expands and grows.

    On the other hand, a larger organization having every individual participating in business planning does start to become a bit challenging. The key is that the vision and goal of the business is clearly stated to all employees, that vision doesn’t change drastically year on year, and taking the time to recruit the right people who are buying into the vision as opposed to how much money they can make. Like Jim Collins says, “You have to get the right people on the bus.”

  • Generation X; Analog to Digital

    gameboy_256In the same way saw the Greatest Generation saw the change from horse drawn carriages to automobiles and the birth of airplanes to the rise of the space shuttle, Generation X has seen firsthand the transition from analog to digital: carbon copies to CC: and BCC:, and a slide rule to an iPod. GenXers began life processing credit cards at the grocery store with a carbon copy slider, called an “imprinter”. When they went to school, their teachers made worksheet copies using a “mimeograph machine” in purple ink. They were the last to be taught how to type on typewriters and the first to use a personal computer in school. Some started out on Apple IIs and others on IBM PC clones. By the time they were leaving primary school and entering college, portable computers and cell phones were common. The World Wide Web had turned the Internet mainstream. It was now odd for a GenXer to not have an email address and a cell phone number.

    Some things didn’t change though. The paperless office didn’t happen. More things were put online and sent via email, but paper remains in the office, schools, and at home. Email has decreased the use of paper mail though. Another example is flying cars. We still don’t have flying cars even though Back to the Future says we will by 2015 (we’ve got 6 years to get on that). Another hint from Back to the Future is cold fusion, which is still a dream. However recent breakthroughs by MIT in solar power technology may lead to a new era of cheap electricity which could change the economy in desert regions around the world.

    Read more about Generation X.

  • Analyzing Actions

    youtube-diggI decided to do a little research on how this blog was doing.  I went to Google Analytics, which records data on what keywords visitors use to find this site and exported the data into Microsoft Excel.  Data has a funny way of changing your realities from what your gut thinks to actual reality.  What we intended this blog to be about can be summed up in one sentence:

    Thoughts lead to actions and actions lead to results, so to change your results, you must first change your thoughts.

    This meant that Zac and I wrote mostly about thoughts, actions, analyzing the way you feel and think – basically changing the insides in order to affect the outsides, the results, in order to achieve success.  What the analysis told me is that even though we are writing about all that, most visitors only care about one of two things, “How to Delete a Digg Submission,” and “Youtube Query String Parameters.”

    Both of these subjects, or posts, are in the “Programming” category, which, out of all the categories (Actions, Economics, Entrepreneurship, Job Hunting, Life, LOST, Management, Marketing, Pop Culture, Small Business, Startups, Success, and Technology), Technology is probably the only one that is remotely close to being like it.  All the others, besides LOST, are mostly homogeneous.  So what we really have here is a kind of identity crises.  It’s a question of who we are.  It’s also an opportunity to innovate and make some changes.

    Blog Analysis

    Most popular posts and keywords are just one metric of the success or current state of a blog.  For each keyword there are, “Pages per Visit, Average Time on Site, Percent New Visits, and Bounce Rate.”  For example, the keyword which resulted in the most page views was, “youtube embed querystring parameters,” at 17 pages, whereas the keyword resulting in the lowest bounce rate, “creative avoidance,”at 42% also had 3 more page views per visit.  This tells me that out of all Managing Actions blog posts, the most popular post that also captures the essence of this blog, “manage your thoughts in order to manage your actions”, is “Creative Avoidance,” by Zac.

    I recommend breaking the “Programming” category off into its own blog and focusing on “Creative Avoidance“-type subjects along with the other popular trends in this category, “Purpose,” “Actions,” and “Confidence.” [Update: I have since started blogging about query string parameters (1,2) and how to stay alert. 9/15/2009]

    If you would like an analysis done on your blog or help with Internet marketing, please use the comment box below to leave your name and email address and we will contact you shortly.  Thank you for visiting Managing Actions – and may your thoughts lead to action!

  • Generation X, Y – Two Letters, Two Jobs

    I’ve noticed a trend in our generation (the subset between Generation X and Y, The MTV Generation): two jobs. Almost everyone I work with and everyone in my family has two jobs. I have two jobs and even my wife has two jobs [Edit: She had two jobs before having kids, now she has one paying job.]. Why is this? Aren’t we supposed to be doing better than our parents? Therein lies the answer, I propose. Our generation expects to live like the generation before it, in the way they’ve grown used to: immediately. Everything is immediate in our generation: Microwave dinners; CDs instead of Tapes (DVDs instead of VHS – learn how to do DVD conversion) mean no waiting for the next song, just skip; and of course, the Internet. All of this leads to wanting to instantly have what we had while living with our parents (Generation Jones – Gen X). To get this we either have to work two jobs or max out our credit (usually both). If you have noticed this trend too, let me know.

    Does it feel like the generations are getting smaller, or at least the names for the generations are getting named more often? A generation is generally defined as 20-30 years as this is the time it takes one person to grow up and have a new family. After Generation X (1961-1981) the names for generations began to take off. First there was Generation Y (1976-1997). In general, Generation Y is the offspring of Generation X, but since Generation X and Generation Y overlap by five years, both my older brother and I are both Generation X and Generation Y and our parents are part of neither generation. So what generation are my parents?

    My parents are Baby Boomers (1946-1964). Generation X, also known as Echo Boomers, Cold War Generation, or Baby Busters, is the offspring of Baby Boomers so by definition my brother and I are from Generation X even though we fall into the potential range of Generation Y. Because our parents were Baby Boomers (the 12th Generation of Americans), we are by default, Generation X (the 13th Generation of Americans). But if I am definitively Generation X, and by definition my children are Generation Y (1976-1997), I had my children seven years too late. So what generation are they and what went wrong?

    They are officially Generation Z (2001-2???). Did we skip a generation? Yes and no. To answer this question, we need to defined sub-generations. These are much more specific and this chart does a great job of explaining it. I am a member of either the Baby Busters (1960-1981) who are defined by experiencing Vietnam War/Cold War or a member of the MTV Generation / Boomerang Generation (1974-1985) defined by the Rise of Mass Media/End of the Cold War. Being that those generations overlap by 4 years, I am going to go with the MTV Generation because culturally, that is what I identify most with. What then, is the sub-generation of my parents?

    Even though my parents could be considered Baby Boomers, they themselves have never identified with that generation and so I think them better fit to be in Generation Jones (1951-1971) and within the sub-generation called Beat Generation. Beats are considered the first modern sub-culture, but my parents were not “Beats”. They are simply the lost generation between Baby Boomers and Generation Xers which probably highlights why I feel lost between Generation X and Generation Y. My children’s generation will probably be more defined due to better tracking with technology such as the Internet and the World Wide Web.

  • This is Our Time

    Like the kid said in the Goonies under the wishing well, this is our time, down here.  Down here in the recession is our time to shine.  The CEO of Cisco, John Chambers, thinks this moment of our lives will shape the next 25 years.  The decisions we make now are the ones that people will be telling stories about for years to come.  It’s make or break time.

    Humans have a way of evolving faster when they have to.  What I mean by evolving is probably more like innovating, but its innovation for survival’s sake, which is more closely related to evolution.  Necessity is the mother of invention.  If you need to eat, you just might start thinking harder about all the different ways in which you could make money to buy food.

    This is a period of paradigm shifting.  People are rethinking everything they do.  They are starting to ask themselves, “Why am I doing this?”.  On a national scale we are asking ourselves, “Tell me again, why are we at war?”  And when we go to do something we normally do, we notice our habits are changing.  I’m reminded of the old poem:

    Use it up

    Wear it out

    Make it do

    Or do without

    I think there is a lot of people making their cars run longer, upgrading their computer parts instead of buying new, cutting back on cable programming and spending more time at home.  But if you take each one of these scenarios, there is a flip-side for the economy.  Car maintenance shops have increased business.  Computer repair shops are now busier than ever.  Low-budget entertainment like Red Box rentals and Netflix are increasing.

    How many of you are starting to eat all of the food in your pantry? How many of you are selling your unused goods on Ebay or Craigslist? How many of you have started a second job or business? How many of you have gone through your home and unplugged unnecessary appliances to save money on electricity? How many think that these are things you should have been doing all along but never did? How are you going to live going forward? What will you do when things turn around? Will you go back to your old ways? What can you do to improve the life of yourself, your family, or a neighbors life today?

    This is our time.  How we spend it is up to us.  Lets make it memorable.  Lets improve things for all mankind.  Lets bring developing countries up with us.  Lets unite as a world and stop tearing each other down.  Lets use the economy as an excuse to do the things we should have been doing all along.

  • A Rainy Day is the Best Time to Sell and Umbrella; How to Become Successful in a Recession

    Now that America is in an Awakening, we need manufacturing more than ever.  Start in the ground.  What raw materials do we have to work with?

    • Fossil fuels for energy (hundreds of years of coal, at least ten years of oil, and some natural gas to boot)
    • Copper (a third is still in the ground, a third is in use, and a third is in landfills – we’ve got to go remining)
    • Iron (used to make steel and the first Industrial Revolution, it will be used again for the Awakening).

    Lets start with US automakers.  GM, Chrysler, and Ford.  Go Rockafeller and bring it home, vertically.  Fire the unions, convert unused factories into foundries or merge with a metal manufacturing company such as US Steel.  Second, convert other factories not needed for road vehicle manufacture and begin making locomotives or “mag lev” transportation.  BE TRANSPORTATION COMPANIES, NOT AUTOMAKERS.  Consider partnerships with GE and Boeing (and get your head out of your ass).

    America needs a SWOT analysis and to act as a cohesive whole to make the Awakening work.  What tools does America have to work with?

    • Large amounts of energy – dams, wind, nuclear, coal, natural gas, wave, thermo, and solar.
    • Large educated workforce – we might not be the best educated, but we are a smart population.
    • Willing workforce willing to innovate – Americans are bred to take risks, that’s how we got here

    US financial industry, you were like the son who asked for his inheritance early only to squander it, but we took you back, even threw a party for you under a big TARP tent.  Start lending.  Take a risk.  Be entrepreneurial, invest in those who need investment, and give hope a chance.  If you fail, you already know America will be there to catch you when you’re too big to fall.

    The construction industry, you were the straight man, emerging in the Awakening as the “victim” of the collapse.  Its time to use it up, wear it out, make it do, or do without.  Lets renew our inner cities and small municipalities.  Stop all new construction until existing buildings are repaired or in use.  We’ve got to right the ship.  The immigrants are leaving the country.  You’re losing your workforce and potential new home sales.  There are enough lead-paint, 16-gauge, non-grounded fire traps in America’s small towns to keep every home builder in business for a decade if not a generation.

    So how can you become successful in a recession?  Same as always:

    1. Stop doing what doesn’t work and resolve to be open to change.
    2. Write down a dream or a goal (ask yourself what you want to have, become, or do).
    3. Build a team – surround yourself with like-minded individuals with similar goals.
    4. Pick a distribution channel (Wal-Mart, Amazon.com, your own website).
    5. Figure out who your target market is (who your customer will be).
    6. Pick a product or service (something to resell, rebrand, license, distribute, or sell).
    7. Find out how much it will cost to make or do and what you will charge for it.
    8. Test with your target market (if successful, go on, if not, start back at #1).
    9. Let people know about it (promote through trade magazines, or online through PPC).
    10. Create procedures so that you can sell your business and start another.

    I highly recommend three books for those who want more detail on how to start a successful business in good times or bad:

  • How to Turn the Ship Around – Just Say the Word, Captain

    Have you ever heard the expression that, “It is not all about semantics, it is ALL about semantics.”?

    Why are we in a recession? Because we said we were – and so it was.  Ask and you shall receive.  This could be a domino effect from excessive margin trading on Wall Street, a multi-national debasement of currency, or it could simply be the effect of real-time media spouting “RECESSION IS COMING! RECESSION IS NEAR, ALAS RECESSION IS HEAR!” My wife actually mentioned to me the other day, “Did you hear the government officially announced we are in a recession?”  My wife knows nothing about the news or economics.  All the news she reads is in a forum from other like-minded stay-at-home moms.  That means the other stay-at-home moms are also talking about it.  It is truly a household expression.

    We are in a recession.  Now what? If semantics got us into this, can it get us out? While possible, it may be harder because terms for the opposite of recession like bull market are not household terms.  What if the Big Five advertising companies got together and announced a new term for the opposite of recession?  It would have to be something that exemplified American spirit, a phrase or preferrably a word that encompassed growth and prosperity, something that is the opposite of the word recession or depression.  Lets give them a start:

    recession – noun. two or more consecutive quarters of negative growth in the economy; a slight depression or indent; a period of rest when productivity stops, such as when a court or classroom breaks for recess.

    [opposite of recession] – noun. two or more consecutive quarters of positive growth; a slight rise or bump; a period of growth and increase in productivity, such as when more available people and equipment are in use.

    Words that would mean the opposite of recession that would stick in peoples minds and could become a household term:

    • incession
    • uncession
    • unionsion
    • producsion
    • improvsion
    • lacession
    • warcession
    • growthcession

    Words that do not end in “sion” that might also come to mean [opposite of recession]:

    • warcycle
    • beatperiod
    • upturn
    • uptick
    • growthturn
    • fastbreak

    Phrases that might also mean opposite of recession:

    • AMERICA: My boyfriends back.
    • AMERICA: The sleeping giant wakes up and wants to know what’s for breakfast.
    • AMERICA: Build it. Buy it. Bring it.
    • AMERICA: Growth for OUR sake.
    • Power up, America.
    • Don’t mess with US.
    • Pull yourself up by your bootstraps, America. Its time for you to stand up so the world can stand down.

    Is America’s role as an economic world leader over?  If the events of the past three months are any indicator, the answer is an astounding NO.  China and India, the future of world growth, tripped at the first sign of America’s financial collapse.  Conspirators may hypothosize that America’s role was being compromised, but by debasing the worlds currency’s, America, which still has relatively wealthy citizens is now poised to take advantage of all the new “deals” around the world in the prime growth markets.  But conspiracy theories aside, for nearly 100% of the world it doesn’t matter anyway.  We have to deal with things as they are, no matter who controls the purse strings.  So lets get out there and start talking POSITIVE!

    Its time to “break the fast” and welcome America to the AWAKENING, the opposite of a recession in America.