Now more than ever, most of us are focused on staying healthy and boosting our immunity. One of the biggest impacts we can have on our own immune system is how much (or how little) sleep we are able to get per night. In this TED talk, brain scientist Dr. Matt Walker explains the whys and hows of sleep as it pertains to our health and longevity. Check out this 19 minute video and learn how to take care of your brain and body with just a little more sleep.
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!
Planning for the Recovery
Although here in the U.S. we are just beginning to feel the squeeze of isolation, quarantine, and the resulting effects on the economy as a means to control the coronavirus, there will (eventually) be an end in sight. One of the few bright spots we have is the ability to learn from other countries’ experience (e.g. China, Italy, South Korea) who are a few weeks ahead of us in coping with it.
This recent HBR article is illuminating, in which the authors state that “China appears to be in the early stages of an economic rebound, according to our analysis of high-frequency data on proxies for the movement of people and goods, production, and confidence. While this recovery could be vulnerable if a new wave of local infections were to emerge, many Chinese companies have already moved beyond crisis response to recovery and post-recovery planning.”
This article provides an executive summary of “12 early lessons for leaders elsewhere.” Check out “How Chinese Companies have responded to Coronavirus.”
Wuhan medical workers remove masks, signifying that the worst is over.
Leadership in the Corona Economy
COVID-19 has now appeared in 81 countries around the world.
As news reports keep coming in about more and more cases of COVID-19 around the world, it’s difficult to obtain reliable and succinct information about something as new, unfamiliar and dynamic as the Coronavirus. Businesses, consumers and the government are reacting more to the lack of information than to anything that might be described as definite or even probable.
That said, here are a few articles about Corona that you might find thoughtful and if not reassuring, at least somewhat informative.
The Short Term: Tech Industry Watcher Robert X. Cringely offers the first of two blog postings about the impact of Corona including what similar events in the past have taught us… and what’s different this time.
The Investment Perspective: Investment writer and economist Bill Maudlin looks at how this is like and unlike the Y2K crisis of 20 years ago: the supply chain impact; the Fed’s role and possible opportunities in his blog posting “Covid-19: A Crisis the Fed Can’t Fix.”
Ready, Set, Fear?: Stock market reversals this past week make investors wonder if the losses represent a new longer term bear market cycle, and whether the general economy can be far behind. Economist Brian Wesbury walks his readers through a thoughtful analysis of the impact on stock markets and the larger economy as he explores the question “Is it Time to Fear the Coronavirus?”
An Update from ITR: Brian Beaulieu, CEO of ITR Economics, wrote the following note over the weekend:
“The COVID-19 outbreak is clearly foremost in the minds of many of our clients and people in general. We are discussing it with our clients, and others, as a means to clear the way for a discussion about economics. We are not MD’s at ITR Economics but we know stats and history. Both are important and indicate that is unlikely a plague was about to be let loose in the US given our prior knowledge of the problem (unlike the Chinese), the status of the health care system in the US, and the statistics associated with COVID-19 specifically. Given the non-plague status of the outbreak and acknowledging there is hysteria in many circles, it is probable that the US consumer will perform as always: they will consume. We will watch this very closely. We will alert you if this changes. The correction in the stock market is disconcerting but we think this represents a buying opportunity. There is time to pause here and make sure the market stabilizes before acting. However, that is the direction we think investors should be leaning. We are also watching commodity prices, like oil, very closely as a “tell”. But our assessment currently is that the economy is larger than all of this. The leading indicators in the next several weeks and months will inform considerably. Thankfully our children seem relatively safe, and life goes on. So, let’s plan for our businesses and maximizing profits assuming that the rational behavior and economics will rule the day. The key issues in China appear to be logistics and getting people back to work in their factories following the new year holiday. I expressed confidence in the Chinese to overcome these issues, but it may take 1 to 2 quarters. Expect supply chain disruptions but expect them to be relieved in 2H20. Demand isn’t going to go away as the US consumer will continue to consume. Longer run, layered on top of tariffs and politics, expect this black swan event to hasten the shift away from China (and Asia in general) as a supply source and expect to see more nearshoring going forward. While they say change is a constant, the pace at which it occurs is not. Assess and seize the opportunities.”
Second Order Effects: In a complex system like the world, wise leaders have to go beyond simple cause and effect to further consequences, or “second order effects” down the line. This short article in the New York Times may help you estimate the unexpected impacts on your business.
5 self-care habits of successful people
“Sometimes I wish I had a moment for myself.”
Have you felt that recently?
Busy CEOs are pushed to a high stress level and often feel they lack the time they need to get everything done. Leadership demands hard work, creativity, and long hours, but science shows us that lack of rest and relaxation leads to diminished focus and productivity as well as the likelihood of burnout.
A growing number of executive leaders and business owners are prioritizing self-care habits. Successful people know that rejuvenation is paramount for maintaining their performance and overall well-being. There are a variety of ways to replenish your energy—it could be 30 minutes of exercise a day, reading for pleasure, spending time outdoors or a meditation practice.
To get a glimpse into the self-care habits of highly successful people, read on… hear how five business leaders with broad and deep experience in the business world share take the time to recharge.
Improve decision making with heart-brain communication
The brain is the powerhouse of the body.
Or so we thought.
The heart organ, it turns out, has a mind of its own. Research shows that the heart doesn’t just take commands from the brain—heart-brain communication is a dynamic, two-way conversation.
Scientists were mostly interested in learning how the heart receives signals from the brain, but later discovered that the heart has a complex communication system of its own that sends more messages to the brain than vice-versa, and it does so in four ways: via neurological (nerve impulses), biochemical (hormones), biophysical (pulse wave) and energetic (electromagnetic field) communication methods.
Furthermore, in the 1960s and 70s, psychophysiology researchers observed that the heart organ communicates with the brain in ways that significantly affect how an individual perceives and reacts to the world. In the 90s, pioneer neurocardiologist Dr. J. Andrew Armour coined the term “heart brain” to express just how intelligent and communicative the heart is.
Vistage speaker Vered Kogan encourages business leaders to take this science to heart. If the heart organ holds such fantastic intelligence, what role does it play in decision-making?
Learn more and see the video here.
Survey: Investment and hiring plans diverge
Following the decline in pessimism about the economy recorded last month, optimism among CEOs of small businesses did not increase according to a survey conducted by Vistage in December. While the percentage of CEOs that expect the economy to improve increased to 17% from 15% last month, the percentage that felt it would worsen also increased from 27% to 32%. Dr. Curtin, a researcher from University of Michigan who analyzed the results, explains this in more detail here.
Time, or attention?
Time is the only resource we cannot buy more of. As the year begins you may have resolved to do a better job of time management. But maybe we’ll get a better handle on time if we focus less on the dearth of it and more on the factors that rob us of it according to Vistage Speaker and productivity expert Maura Thomas. Her short article in HBR suggests that the time crunch is self-inflicted and that its cause is more about what we choose to pay attention to… and what we don’t.
6 Ways to Upgrade Your Customer Experience in 2020
Except from Inc.com
You've got great products. You've got competitive prices. You've got lovable ads. But unless your customer experience is exceptional, you aren't going to get ahead in 2020.
Remember, research giant Walker predicted seven years ago that CX would overtake price and product as the primary brand differentiator by 2020. With 2020 here, it's time to plan a final CX push. If fast growth is your goal, CX is your route to getting there.
What does that mean? Something different for every brand. Some companies win with frictionless sales or stellar customer service. Others are "all in" on social responsibility. One brand I worked with decided to define itself by its ease of use; the leaders focused on developing an intuitive interface and showcasing the brand's 24/7 customer service accessibility.
Read the full Inc.com article for tips on how to elevate your customer experience.
Success, real and perceived
This newsletter is targeted to C-Level business people who, by definition, have generally achieved a higher level of success than most. The more thoughtful among this group will at least occasionally wonder whether they’ve been lucky or smart. Ironically, success itself may be getting in the way of understanding what really got us to where we are.
You never manage anything more important than yourself. This short essay, “Success and Perception”, explores some well documented ways in which our perceptions mislead us in judging others… and ourselves.