Retirement in a Post-Corona Reality

The big problems we had pre-Corona may be just as big, or bigger, when we’re past it.   One challenge that many will have will be funding a retirement that - due to medical costs or forced layoffs - is far longer than they had planned for.

This article from Knowledge at Wharton explores some of the public/private strategies and partnerships that many help fill the gap between what many have, and what many will need.  Will you need help from options like these?  Check out “Living to 100: How Will We Afford Longer Lives?”

Our Own "Hail Mary"

In most of our favorite, guilty-pleasure disaster movies, each hero has a “Hail Mary” moment in which he or she makes a daring breakthrough that saves the day. In real life, and especially during this pandemic, we must take comfort in all of us making small changes that will lead to an ultimate victory. It is natural to find hope in news (or rumors) of medical breakthroughs (Remdesivir, the Oxford or Moderna Vaccine projects which hold promise, and false alarms like hydroxychloroquine).   But, real advancements take time and are hard to predict.  The belief that our own “Hail Mary” moment is imminent can seduce us into letting our guard down.

As many states start to re-open, a recent short HBR Blog post warns the “all-or-nothing approach…. makes for great theater. It does not, however, bear much resemblance to how actual big problems are solved… Big problems typically get tackled through a series of small solutions, each of which on its own may not seem particularly important, but that together can have a huge impact.”

A wise executive once said that “good management is consistent pressure, relentlessly applied”. Take a minute to reflect on why “we shouldn’t wait for a breakthrough in the Covid-19 Pandemic”, and what we should do in the meantime to help assure one.

Innovation vs. Coronavirus

Few people have had a greater impact on the tools we use in our jobs than Microsoft founder Bill Gates.  After retiring from Microsoft, he has deployed millions of dollars through the Gates Foundation into fighting disease in developing countries.  Several years ago in a TED talk he warned about the challenge of a pandemic. He’s now backing up his warning with the recent major investments he has made to produce a vaccine to fight COVID-19.

Mr. Gates has a new post on his blog that is worth your time to increase your Corona IQ. Check out “Innovation vs The Coronavirus: The First Modern Pandemic.”  At 13 pages it’s a long read (you can download the pdf) but worth the time.  If you’re short on time, he has graciously published an executive summary of the longer article in the Washington Post.

The Stockdale Paradox

In his book “Good to Great”, Jim Collins identified what he called “Level 5” leadership: a combination of humility and fierce resolve.  He proffered this as required and defining trait of those who build great, enduring companies.

One example he shared was that of Admiral James Stockdale, the highest ranking POW during the Vietnam conflict and how his leadership in an utterly uncertain situation required balancing the tension between the duality of faith and brutal facts that’s come to be known as the “Stockdale Paradox.”

To help leaders cope with the impact of Covid-19, Mr. Collins recently released a 7 minute video that explores “the Stockdale Paradox”, which is particularly relevant in the current context.  I hope you will take time for this before starting your week and share with the other leaders in your organization.   

Adm. James Stockdale

Will My Company Survive?

The most important thing that leaders can manage right now is themselves.  Many are asking whether their businesses will survive.  Vistage Speaker of the Year Dr. Eve Meceda offers two resources to help you answer that question in the affirmative in a six minute video.  

The first is a simple formula, “Beliefs ---> Behaviors ---> Outcomes,” for you and your team that will constantly remind you of the power you have. 

Second, the stories you tell yourself, and your team, are more important than ever. Dr. Meceda reminds us that the core of storytelling is what’s called “the hero’s journey.” (i.e. yours).

Learn more about “The Hero’s Journey” in her new video (the first of several to come) “Will My Company Survive? because now, more than ever, the Hero’s Journey is your journey. 

Dr. Eve Meceda

Incredible value for ANY leader in just a six minute video.  Thank you, Dr. Meceda!