Abe as CEO

Happy Presidents Day!

In this Issue:

1. Abraham?Lincoln, CEO
2. Herding?to Hospitality
3. The Two Types of Decisions
4. From?Small to Tall
5. Love?at Work
6. Econ Recon

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Abraham Lincoln, CEO

It’s hard to think about President’s day without thinking about Abraham Lincoln who led the country during the existential crisis of the Civil War.

Vistage Chair Greg Bustin shares a number of situations that confronted Mr. Lincoln and the wit and wisdom with which he responded to them.

And for further wit and wisdom, read 101 inspiring quotes from 45 Presidents.

Might we all be as entertaining and thoughtful when similarly challenged!

Herding to Hospitality

Every big business was once a small business. A great example of this is on the American Business History Center website which traces the history of the Marriott Corporation and its founder J. Willard Marriott who went From Herding Sheep to Hospitality Empire. It’s not only the story of how a small business became a big one, but how an entrepreneur can start a business, only to find enduring success in a very different one he never thought about entering.

The Two Types of Decisions

Leadership and management at their cores are about decision making. Your ability to make a good one may be enhanced?if you understand which type you’re being asked to make.

Regard the types of decision, Amazon founder Jeff Bezos once wrote to his shareholders:

“Some decisions are consequential and irreversible or nearly irreversible – one-way doors – and these decisions must be made methodically, carefully, slowly, with great deliberation and consultation. If you walk through and don’t like what you see on the other side, you can’t get back to where you were before. We can call these Type 1 decisions.?

But most decisions aren’t like that – they are changeable, reversible – they’re two-way doors.?If you’ve made a suboptimal Type 2 decision, you don’t have to live with the consequences for that long. You can reopen the door and go back through. Type 2 decisions can and should be made quickly by high judgment individuals or small groups.”

Take some time for a deeper dive on understanding Type 1 and Type 2, also known as Reversible and Irreversible decisions, before you need to make your next one.

Big challenges for Small Businesses

And speaking of every large business once being a small business. The faculty at Northwestern’s Kellogg School of Management have produced some insights that leaders of Small to Medium Business (SMBs) may find helpful.

Check out Take 5: What Does It Take to Make a Small Business Work.

Love at Work

Valentine’s day was last Wednesday and several resources had some interesting things to share about love and work. Vistage’s premier employment law speaker, Hunter Lott, offers some advice on managing the perennial challenge of romance in the workplace.

Suzanne Lucas (aka “The Evil HR Lady) recaps some research on the occupations most and least likely to lead to divorce…and suggests some reasons why.

Finally, an short HBR article warns that Love in the Office is Wonderful.? Except for CEOs.

Econ Recon

The Present Future:? Peter Drucker once remarked that “demographics is the future that has already happened.” Dr. Brian Wesbury in his “Three on Thursday” blog offers a neat one page, 50,00 ft overview of global demographics over the coming decades. Demographics is about people?and only people create markets.???

What does the information in this overview portend for the markets you serve?

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FedWatch: ?As always, Brian Beaulieu of ITR Economics offers great insights on the Fed and the economy in his latest “FedWatch” podcast.

Wishing you a productive week.

Sue Tinnish, PhD,?Vistage Chair, Facilitator, & Executive Coach

Find me easily at: 847.404.7325, [email protected], Twitter:?@STinnish, LinkedIn: www.dhirubhai.net/in/suetinnish, Website: https://vistage.com/chairs/sue.tinnish