My regular update regarding my learnings and unlearnings.
The purpose of this article is to share my learnings and unlearnings, with the expectation that some will be of value to you.
?This article was 100% written by me – not by AI.? When you send me an email, my response is 100% written by me.
?Personal Update:
1)???? Mentored a startup at the University of Toronto Department of Engineering.? The approach was based on weekly advisory board meetings.
2)???? Mentoring a CEO who is a Rotman business school alumnus. I’m a mentor in the Rotman Rendezvous program
3)???? Continued as Board Director at Computer Aid Canada.
4)???? Continued as a Patient Family Advisor at ?Sunnybrook Hospital.?
5)???? Continued my long-term fundraising for the Geoff Carr Fellowship at Lupus Ontario. Over the past 18 years family, friends, neighbours, and colleagues have contributed almost $270,000.?? You can use the donation link later in this update
6)???? Continued with the Angel Capital Association in the US.
7)???? Continued to share with you, and on my website, some of what I’ve learned and unlearned, with the intent that some of you will find value.? The learnings and unlearnings are applicable to any size company, ranging from early-stage startups to large global enterprises.
I continue to examine and refocus my time on efforts which maximize the value and impact on my two purposes. (#1 Enabling current and emerging business leaders to succeed, #2 Enabling business leaders to have a positive impact on society).
?My biggest learnings in the past three months:
1)???? Physical exercise can enable the growth of new brain cells in people older than 65.? This has positive effects on cognitive function and cognitive decline.
2)???? Learning new things is beneficial for people older than 65. 6 weeks of learning can result in cognitive abilities of people 30 years younger.
3)???? Learning novel and challenging new things maximizes benefits. Learning isn’t easy and takes time over multiple sessions.
4)???? Merely listening to a presentation provides little learning.? Hand written note taking maximizes learning. This applies to all ages.
5)???? Albert Einstein supposedly said, "If you can't explain it simply, you don't understand it well enough".
?Your donation to support the Geoff Carr Fellowship at? Lupus Ontario can be made by the following link:
?Our society in changing. The number of Canadians donating to charity has been going down for many years.? Even the total $ amount donated has gone down.?
?Sharing my learnings
My website (https://koorandassociates.org/) contains my points-of-view regarding key issues and questions regarding value creation and growth in for-profit businesses. Each point-of-view is a brief article designed to enable discussion among founders, owners, shareholders, investors, CEOs, boards of directors, and advisory boards. I do not address not-for-profits, government, or other non-profit oriented organizations.
?Below are links to my website containing: new and revised points-of-view since my last update in March.
?Links to my points-of-view articles:
What is your business strategy? V2
Your business strategy is about making an integrated set of choices that compels desired customer and ecosystem member actions. Your business strategy, company purpose, and North Star metric are all inter-related.
?Are company values valuable?
What is the value of your company’s value statements.
?Society does not trust its leaders and institutions. V6
40% of the American public believes problems with their social institutions cannot be fixed and to just “let them burn”.? In Canada, only 5% of Canadians believe the next generation will be better off. 65% of Canadians believe economic growth means increased income for the rich.
?What is a startup?
Startups are not building a solution.? They are building a tool to learn what solution to build.
?LP (Limited Partner) assessment of a fund. V8
Assess a fund (which is asking you for money) the same way they’d assess a company asking them for money. Understand how the fund and its managers are competitively superior i.e. managers know things that others don’t and can do things others cannot. Understand the potential for the fund manager to succeed in rapidly changing and different future.
??MY NPS (Net Promotor Score)
I’m doing what I advise companies to do – getting my NPS.? I am asking you to complete the attached anonymous survey which asks you: “How likely are you to recommend me, or not recommend me, and why?”
?Bain developed the Net Promoter Score process. They believe one question is the best predictor of future company behaviour. Very simply, asking customers how likely they would be to recommend or not recommend the company, followed by the question why. The answers enable companies to determine what they need to change.
?I am doing the same thing, getting facts as to how I’m perceived and then deciding what to change, if anything.
?The survey is totally anonymous.? I don’t know who responds or who does not respond.? I don’t know who gives what answers.? Thus, you can be honest in your response.?
?The following is a link to my survey:
?Thank you in advance for your help.? The following is a link to the Bain website homepage for Net Promoter Score, which contains several short articles.