Achieving Real Breakthroughs

In this Issue:

1. “The Breakthrough Fallacy”
2. Civics Lessons
3. Talent?Tactics for SMBs
4. Manufacturing's "Shocking Reality"
5. How to Organize for Innovation
6. An Invitation to Good Growth
7. Econ Recon

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“The Breakthrough Fallacy”?

Humans are the only animals that tell stories and none more important than the stories we tell about our successes (and failures). When we look at our lives, we find dramatic moments that we believe rightly or wrongly explain how we got to where we are.

The truth, according to Mark Manson, is much more pedestrian. Understanding your history, grappling with your memory, and forming your future, may be a little more coherent if you understand what Manson calls the?“Breakthrough Fallacy-What Change Actually Looks Like.”

Civics Lessons?

One of the most controversial elections in decades will be held in less than 60 days. I strive to be non-political in this newsletter, but there are aspects of the election that C-Level executives may find helpful, practical, or at least interesting to learn about regardless of your political leanings. For that reason, I am sharing 2 items that you will find enlightening and offer them without preference regarding any candidate and/or party.

“Not Worth a Bucket of Warm Spit” was how Congressman John Nance Garner described the job of US Vice-President after serving in that office under Franklin Roosevelt for the latter’s first two terms. Few people can name who held that office more than two or three administrations back. Most CEOs rely more heavily on their Vice President than the CEO of the United State does. Yet, the US Vice-President is a heartbeat away from the most important job in the world.??

Some of them have been thrust into the role of President only to find out how much their predecessor had NOT told them. (When Franklin Roosevelt died in April 1945, his successor Harry Truman was shocked to learn that FDR had kept him in the dark not about the Manhattan Project which had nearly completed the first atomic bomb.) Why not enhance your electoral IQ with 10 Surprising Facts About U.S. Vice Presidents

“Not a Dime’s Worth of Difference Between the Parties?” This remark was made by George Wallace over 60 years ago. While the country, and the two major parties may be far more divided than in years past, Vistage speaker Marc Emmer offers some factual insights on the parties’ respective impact on the economy and how policy really gets made, regardless of what we think we’re voting for. Check out his blog post on?Presidential Economics

Talent Tactics for SMBs

Small to Medium-size Businesses, often complain, not without justification, that large companies have an advantage when it comes to hiring. A group of middle-sized company executives recently met at the US Military Academy at West Point “from across a range of industries at the historic Thayer Hotel inside the U.S. Military Academy at West Point for a pragmatic discussion on how to attract—and keep—top talent these days.” Their discussions were summarized in Chief Executive Magazine in a list of eight action steps that can make a difference for SMBs. ????

Manufacturing’s “Shocking Reality”

For many people, the economy they see is IT, finance, and retail. But at the end of the day, we all need “stuff” and “stuff” has to be manufactured. The American way of life has been made possible by the Industrial Revolution of the 19th century and further augmented by the application of computer technology to manufacturing in the past fifty years….and more recently AI.?

Vistage speaker and IT Security Expert Mike Foster warns that “this surge in AI adoption produces an often-overlooked danger that all organizations with industrial controls must consider. The computer systems hosting your AI and traditional solutions can become obsolete faster than the devices they control.”?

Check out his recent blog post “An Executive’s Handbook to Securing Modern Manufacturing Networks and Robots, AI or Not. “ ? in which he outlines “the Shocking Reality” manufacturing executives may be ignoring.

How to Organize for Innovation

Most companies seek innovation and invention but lack a rigorous process for creating it. Strategyn consulting firm Founder Tony Ulwick (who the late Clayton Christensen credits with “bringing predictability to innovation”) offers a short primer on the requirements for such a process…and three related functions for winning products and services.??

Maybe it’s time to ask in your organization “Who is responsible for Innovation, Design, and Invention?”

Good Growth?

Business growth is desirable.? Growth can contribute to increased profitability and allow new investment. ?But growth alone is not sufficient to drive business value.?

Join other Chicago business leaders to rethink how you can achieve your legacy on Tuesday, October 1.? This afternoon session will offer you meaningful pathways and tips to optimize systems and automate processes - all with the aim of driving up value. Our keynote, “The X Factor” delivered by Michael Kramer, CPA will be followed by a panel of experts. Learn from:

? Chuck Dushman, MBA , Chief Outsiders

? Andrew Hansen , William Blair

? Maria Faletti Jugin, MS, SPHR , Insperity

? Eric Krucke , Aprio

Add to your network during the hosted reception. And bring another business leader and join us.? Register . Achieve real breakthroughs.

Econ Recon

A Tale of Two Rates:? The August employment report is still positive but a little less than expected. Economist Brian Wesbury notes that unemployment rate ticked down but goes to suggest what this may mean for interest rates. Check out his thoughts about these two rates in his latest blog post?August Employment Report.? ?

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“Choppy Waters”: ?ITR Economics’ Brian Beaulieu looks at some mixed leading indicators (some weakening) that he thinks will encourage the Fed to lower rate…but that some “choppy waters” for a stock market correction might also be in the offing. Check out his latest Fed Watch for the details.

Thanks for continuing to read the Make A Difference (MAD) newsletter. I appreciate you and wish 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