“To avoid criticism;
say nothing, do nothing, be nothing.”
Aristotle
384 - 322 BC
Greek Philosopher
The Water We Swim In
It’s often said that the economy is the “water we all swim in.” But what is the water made of?
Vistage Speaker and Strategy Consultant Marc Emmer recently posted a short article that looks at three key aspects of the economy beyond our control but to which we can respond if we take time to understand them. Population drives ultimate demand for goods and services; our productivity is a function of our technology, and the infrastructure frees us for higher level activity (imagine no electricity or carrying water all day).
Take a few minutes and consider how these are impacting your business now…and down the line: People, Tech and Infrastructure.
AI and Your Kid’s Career
Your child may be helping to support you some day, so helping them make the right career choice can pay off big for both of you.
To that end, the so-called “War for Talent” has created a hot job market in recent years, but the emergence of AI is threatening to replace the jobs that have traditionally been the on-ramp for many young people early in their careers.
This short article from INC profiles accounting software company Intuit’s recent announcement that it would lay off 1,800 employees: 10 % of its total workforce.
This may a sign of things to come. “Layoffs at high-profile companies like Intuit signal that a technological tipping point is near, and along with it, more fallout for workers’ ……..and has many C-level executives, “thinking that AI's invasion of the job market is well underway.”
AI-Related Downsizing is Growing More Common. Is this the Future of Business? Then watch this video from Mark Cuban “On the Future of Jobs” and the surprising areas where he feels your kid should be focusing on.
Hybrid Hell
One of the biggest challenges of senior management is striking the right balance between the attractiveness of remote work and the business’ need to have the team together in the office. Some executives call it “hybrid hell.”
With it still being a seller’s market for talent, you might take time for a worthwhile article from Chief Executive Magazine: “The dichotomy between remote work and the traditional office setup is not a binary struggle. Each side brings something special to the table, and employers can still attract employees—even younger generations—with an in-office policy.”
Econ Recon:
ITR Economics’ latest FedWatch features economist Taylor St. Germain suggests some sluggishness and slowing in 2024 but a good economy for 2025 and 2026.
A Note From Scott:
Friends,
As you seek to grow the value of your business this year, where are you getting your advice? At the club? From family members (who may have different agenda)?
What if you could get tried-and-true, insightful agenda-free advice from other successful CEOs and business owners, who have been down your path before you? Who understand your goals, your business, and who ask challenging questions that no one else asks?
The members of my CEO peer advisory group get this every month. We are 20 successful, experienced non-competing executives and owners who share advice in a confidential forum, to help each other make better decisions, become better leaders, and get better results.
If you are interested in exploring if you're a fit for our group please contact me. Typical qualified members are CEOs/owners of southeastern New England businesses with revenues between $10 million and $200 million.
Warm regards,
Scott
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