A Measure of Love

Timely tidbits including #NetPromoterScore, #TalentManagement, #LeadershipHabits, #Manufacturing, #Robotics, #AI and more. Enjoy this week's MAD newsletter written to help you Make A Difference in your leadership, your team and organization.

In this Issue:

1.???? A Measure of Love

2.???? Two Big Webinars?on Two Big Topics.?(open to non-members)

3.???? CEO Report Card

4.???? You Are a Work in Progress

5.???? Tackle?the Monkey First

6.???? AI:? The new?Manufacturing Threat

7.???? Econ Recon

A Measure of Love

Bain Consultant, Fred Reichheld developed Net Promoter Score or NPS to measure customer experience and predict business growth (here’s a quick summary if you need an update on this metric).

Reichheld argues, “High NPS...is a great—and certainly the clearest—predictor of market success…(but) NPS doesn’t go nearly far enough in determining whether a company is truly building lasting relationships with the people who pay the bills, and it’s not enough to develop useful business strategy—especially in a time of mounting economic headwinds.”

To fill this measurement gap, Reichheld’s recent book, Winning on Purpose: The Unbeatable Strategy of Loving Customers, introduces a new metric to complement NPS:? Earned Growth Rate or EGR?which is described “as a new “customer-based accounting” metric that allows companies to quantify (to an auditable standard) the strength of the relationships between a company and its customers.”?

Do your customers REALLY?like you?? Maybe this executive summary introducing EGR from Chief Executive Magazine will help you find out.? Learn more about ?Fred Reichheld’s Measure of Love .?

Two Big Webinars on Two Big Topics

Two of the biggest topics for senior executives right now are the subject of upcoming webinars from Vistage in September.??

On September 22?get ready for another weapon in the war for talent.? Learn how to ?Future-Proof Talent: What Matters to Tomorrow’s Workforce Matters Today | Vistage ??with performance expert from Insperity.

On September 29?Artificial Intelligence Roundtable: Best Practices from Small Businesses? ?will recap the experience of three Vistage members who are?early adopters of AI in the middle market space.

And a last-minute reminder for August 30: Knowing What You Don’t Know with Adam Grant. He will provide you with a fresh set of strategies to identify and harness the power of “knowing what you don’t know.”? I heard him deliver a Vistage member version last week – well worth the time.? Attend the non-member version on Wednesday, from 10:00 a.m. - 11:00 a.m. CST: ?Register to attend.

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CEO Report Card

With the start of the school season, students will soon start earning grades.? Leadership coach, Bruce Eckfeldt, suggests creating clarity around performance management for CEOs using a role scorecard. Eckfeldt includes 5 items that need to go on a CEO's role scorecard in this Inc. article: 5 Things That Need to Be on Every CEO's Role Scorecard .

How is your performance stacking up against his 5 measures?

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You Are a Work in Progress

We all need the capacity to learn from our experiences. This is not just learning from reading books or attending classes, but rather from in day-to-day experiences. Yet research demonstrates that people have selective retention, remembering their experiences in ways that they like and that are rarely challenged by others.

?Harry L. Davis, a faculty member at Booth School of Business, shares 4 habits that help people learn from their experiences.? These habits help you process your life’s experiences in a way that leads to meaningful learning.? And avoiding learning the wrong lessons.

Read You Are a Work in Progress .

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Tackle the Monkey First

Every executive needs to understand the difference between which activities generate “light” (clarity, results) versus “heat”? (activity for the sake of busyness or appearing productive).

Pursuing activities that make us appear to be productive is an understandable choice from a performance evaluation standpoint, but not as good a choice as embracing first those things that are the really hard part of the job that will take time and effort before meaning results are apparent to other stakeholders.?

To drive home this point, take a moment for a one-page blog post that advises on any initiative to Tackle the Monkey First .

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AI Advancements Meet Security

A new perspective on AI:nbsp; A vital and hidden opportunity and threat links AI, manufacturing, and cybersecurity.

Your business may not be in manufacturing but?may have customers or vendors upon whom you rely. Any disruption to them can disrupt you. To forestall that, Vistage speaker and cybersecurity expert Mike Foster addresses what users of robotics and manufacturing must consider to stay up and running.?AI Advancements Meet Security: CEO's Handbook to Securing Robotics and Manufacturing Networks.

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Econ Recon

Yielding to the Curve: ?ITR Economics’ Alan Beulieu offers some wisdom on the one of economics’ most revered tools: The yield curve.??Some say it’s overrated.? Dr. Beaulieu says it not. Check out the latest ITR Fed Watch ?for more on this important tool and?why you should pay attention to it.?

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Where is the Economy?:? That’s the question economist Brian Wesbury is asking. We’re supposed to be headed for a recession but annualized GDP for the third quarter is now forecasted as a remarkable 5.3%. Wesbury will attempt to sort it out for you and warns “we are not waving the white flag on our forecast of a recession and think the conventional wisdom has lurched too far and way too fast against the odds of a recession.” Check out his latest blog post (one page):? “Where is the Economy?.”

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Please share the?MAD?newsletter with your friends, other leaders, or colleagues who might be interested. I encourage forwarding or reposting the newsletter.

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 ??

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