"You don't have to be brilliant, only a little bit wiser
than the other guys, on average, for a long, long time."
Charlie Munger
Vice Chairman
Berkshire Hathaway
How to “Just do it.”
A single document can create a roadmap for a great company.
This short article from INC Magazine shares a one page, 45-year-old internal memo from Nike penned by its then marketing head Rob Strasser. Titled “Principles”, it offers 10 points that “set the stage for Nike to become a $135 Billion Company….and shows how establishing rules can build powerful cultures.
Private Funding
Vistage members on average grow at a faster rate than non-Vistage members. It’s not only from good advice and cutting-edge ideas received from their fellow Vistage members, but also via capital in the proper type and amount. Many CEOs and business owners tend to believe that they are limited to bank funding because they don’t want to give up equity to outside investors.
Mark Taffet, CEO of Mast Advisors, offers a three-part executive primer on 1) how Vistage-size companies can use private capital markets to fund growth, (2) helping CEOs learn what they need to know about these markets and (3) learning how to incorporate recapitalization into your strategic planning.
All three articles are available to members and nonmembers. Start with Part 1 of this series “Funding through private capital markets can help you reach your strategic goals without bringing in equity or new partners”. (The links to the other two parts are provided in this article.)
“A Good Ball to Hit”
The Red Sox might find some help in this recent article from Farnam Street about baseball, decision making and Ted Williams, the last .400 hitter. Williams wrote a book about his core competency with a bat in which he shared a fundamental lesson he learned about when to swing, and when not to, that helped him became one of the all-time greats. Learn what it is was in this short article: “What the Science of Hitting Can Teach You About Better Decisions.”
Econ Recon
The Good News, The Bad News: ITR Economics Brian Beaulieu offers some good news and (potentially) bad news about the economy in two short ITR Trends Talks. First, the good news. Mr. Beaulieu identifies some increases in GDP which may have surprised those expecting a recession around the corner. The bad? The arrival of that recession may be accelerated if the Fed keeps hiking interest rates when inflation is actually moderating.
How Fast, How High, How Long? Economist Brian Wesbury likewise has some concerns about inflation. In a short blog post he warns “The fight against inflation is far from done” and says the key questions for the Fed are How Fast, How High, and How Long?
Also, there was another strong employment report, but Dr. Wesbury warns in a one page summary “This is why you need to look beyond the headlines.
A Note From Scott:
Friends,
Where to do you get your business advice?
There are over 28,000 Vistage members in 23 countries.
Should Vistage membership be part of your growth strategy in 2023?
Let’s talk about it.
Have a blessed Thanksgiving. We have much to be thankful for, don't we?
Scott
