business strategy

What resources are you going to need to get this done?

Toyota has lost millions of dollars as a result of two massive recalls of its vehicles in recent months. The first recall was a result of the possibility of floor mats jamming accelerator pedals. The other case involves possibly sticky gas pedals that prevent a car from slowing down the way it should. As a result, Toyota is facing a hard time not only for having faulty vehicles that are unsafe but also for not handling the situation appropriately.

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The question isn’t "if", but "how"

“Whether you think you can, or you can’t, you will probably be right.”
~ Henry Ford II

I had an interesting experience at a recent marketing roundtable that I was leading for a fast-growing manufacturer of branded and private label products. The founder and CEO was in the session, along with members of the management and sales teams. One of the “sticky” points brought up by management was that the entrepreneur did not share enough of his ideas in advance. In essence, he consistently held his cards close to his chest. This made it difficult for managers to make the day-to-day, tactical decisions that would contribute to the firm’s long-term strategic direction. In response, the owner’s candid and somewhat surprising opinion resonated with me. And it still does to this day.

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Only 1000 hours to go

I was reading Outliers: The Story of Success by Malcolm Gladwell last weekend and was struck by a quote and its’ relation to the 90% Rule. Neurologist, Daniel Levitin, writes, “The emerging picture from such studies is that ten thousand hours of practice is required to achieve the level of mastery associated with being a world class expert — in anything”
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