"Benjamin, I want to say one word to you. Just one word."

A great quote from one of my favorite movies, The Graduate, is centered around the main character Benjamin, who just graduated from college and his parents' good friend, an accomplished businessman, Mr. McGuire:

Mr. McGuire: "Benjamin, I want to say one word to you. Just one word." Benjamin: "Yes, sir." Mr. McGuire: "Are you listening?" Benjamin: "Yes, I am." Mr. McGuire: "Plastics." Benjamin: "Just how do you mean that, sir?"

It's a great line. And when I first saw it in 1973 on TV (on ABC's 4:30 Movie after I got home from school*), I always wondered what was the New Word for my time.

Over the past 40 years, the words have changed dramatically - Oil, Computers, Internet, Clean Energy, etc.  What do you think the new word for our era is?

What area should we be pointing to right now to stay ahead of the pack? Where should we be looking where no one else is looking?

As Wayne Gretzky said a number of years ago, "I skate to where the puck is going to be, not where it has been."

Where do you think the puck is going to be in the next five years?

This post is dedicated to Marilyn Miller, Owner, of United Obligations. She used this quote in her BNI commercial last week and it brought back a flood of memories and emotions. The funny thing about hearing it — the millenials had no idea what Marilyn was talking about. Thank you Marilyn!

*ABC's 4:30 Show was a mainstay in my early teen years. I used to watch all the great flicks like 'Planet of the Apes' among others. Here's the catch — they would take a two hour movie and cut it mercilessly down to 90 minutes — with commercials. So I would see a normal two hour movie with 50% cut from the show. It was amazing in later years to revisit many of these movies and realize that there were whole characters and scenes missing from my original viewing.

A Little Sunday Humor.

How To Make Tough Decisions.

“I don’t know what to do.”“I’m stuck, which way should I turn?” “I’m procrastinating because I don’t know what will bite me.”

This happens all the time to everyone at their workplace. EVERYONE.

Unfortunately, most people are paranoid of everything falling apart or failing IF they make a critical decision.

When I work with clients (who range from CEO’s to Solopreneurs), I help them understand there are only three scenarios:

1. Things will get better. (sometimes much better)
2. Things will stay the same.
3. Things will get worse.
4. Or the world will veer from it's axis and we will all die. ;)

I usually comment: If you then make a decision and you use my model, 2 of the 3 are either good or average. One is bad.

I don’t know about you, but I like the odds.

Most people focus on the bad (or worse). All the time.

To increase your chances of hitting the upper end of the curve or lessening the lower end, try to mitigate certain unknowns.

Here’s a typical example:

Apple is launching a new iPad into the marketplace in the next few weeks. (Yea!)

1. It either will be a hit and sell more than the iPad 1.
2. It will match the sales of the iPad 1.
3. Due to increase competition, or other factors, it will sell less than the iPad 1.

Now Steve Jobs, Jonathan Ive and a host of other Apple troops are out in force mitigating the last scenario.

They’ve done their market testing. They’ve surveyed the marketplace.
They’ve got info on their competition and a host of other mitigating behaviors. They’ve done their homework.

Most of the time, your homework is to sit down and clearly think about the results of your decision. Understand most (not all) of the permutations - what might happen. And develop alternatives if things go awry. But also think about the positive and average scenarios too. Doing this will make it easier.

And then make the decision. "Lose your sleep before your decision, not after it."

What hard decisions do you have to make? Does this model work for you?

Image provided by katietower at Flickr.

When Is It Right To Question Authority At Work?

"Too often we enjoy the comfort of opinion without the discomfort of thought." – John F. Kennedy. How often do we let this happen to us at work? We go with the vagaries of the loudest shouters without sitting down, truly thinking about the issue and doing what is the right path for you, your organization, and your customers?

I know JFK meant this for the political process (and it is so apropos today) - but I love to take great quotes out of context and apply them to different situations.

When has it become a bad thing to question authority at work? Because of the economy and changing marketplace, almost every company is in control and the executive is at their mercy.

Many times during my career, I came to these crossroads. When I started with a large advisory firm, management was enthralled with a powerful vendor (who was charging millions for their services). The vendor’s name was hallowed through the halls - you don’t buck them!

I was tapped to take over a struggling team to launch a totally new product with a new website built by this vendor. After working with them for about a month, I realized they were doing nothing and constantly running out the clock.

I thought about it and put my job and reputation on the line by speaking with my immediate superiors. I wanted to fire the vendor. Surprisingly, they wanted to do it too, but were afraid to do it. So I did. And in less than three months, we had a fully-functioning site up and running, blowing away the rest of the company who still had to work with the vendor.

Bottom line, think hard, do your research, and buck the consensus when required.

Have you ever been in this situation?

There's No Such Thing As A Free Lunch.

"There's No Such Thing As A Free Lunch." A powerful quote by Milton Friedman, a prominent American economist in the 20th century. I first heard this saying at my freshman introductory orientation at Ripon College with Dean Harris, Dean of Men. He was speaking to the entire male freshman class (the ladies were in another room in a similar talk with the Dean of Women — boy would I have liked to have been a fly on that wall!). Dean Harris was a wonderful man who reached out to me at different junctures of my college career — giving me sage advice (and reprimanding me when I stepped over the line). He's a special person in my life.

To this day, I can't think of a month that goes by when I either think or speak these words. As a successful corporate executive and coach, what does it mean to me?

1. If you work hard, results and rewards will follow.
2. Odds are, if someone gives something to you, it will probably cost you something in the end.
3. Don't expect anything to happen, plan and ensure that it does.
4. Don't go through life thinking everything will be easy.

Those are MY definitions. What are yours?

Oh, by the way, here's a great corollary to the Friedman quote:

“The small businessman is smart; he realizes there's no free lunch. On the other hand, he knows where to go to get a good inexpensive sandwich.” - Adam Osborne

Do It Anyway.

People are often unreasonable, illogical and self centered;Forgive them anyway.

If you are kind, people may accuse you of selfish, ulterior motives; Be kind anyway.

If you are successful, you will win some false friends and some true enemies; Succeed anyway.

If you are honest and frank, people may cheat you; Be honest and frank anyway.

What you spend years building, someone could destroy overnight; Build anyway.

If you find serenity and happiness, they may be jealous; Be happy anyway.

The good you do today, people will often forget tomorrow; Do good anyway.

Give the world the best you have, and it may never be enough; Give the world the best you've got anyway.

You see, in the final analysis, it is between you and your God; It was never between you and them anyway.

By Kent M. Keith (originally attributed to Mother Theresa)

Thankful For You.

In ordinary life,

We hardly realize that we receive a great deal more than we give,

and that it is only with gratitude that

our lives become truly prosperous.

Today, and every day, I am thankful for you.

With gratitude - Rich

Never, Never, Never Give Up.

This is a quote from the great Winston Churchill. It was given to me many years ago by my oldest brother BIll, when I started my business. It hangs in my office.

What does it mean to me?

• Be consistent. If you have an idea, check it, and follow through on it.
• Be persistent. If you've reached out to a prospect or colleague and they haven't returned your call, keep calling them.
• Be provocative. Stand out from the crowd so you're noticed. It gets harder and harder every year since there are more of us to wade through.
• Be magnanimous. Never give up on a relationship or friendship. Be the one who wears their heart on their sleeve and makes the first move.
• Be intrusive. As I say to my clients, "Be a wood tick — burrow down to get that client, to sell that idea."
• Be true to your philosophy. Just because someone else pooh-poohs your beliefs, doesn't mean your wrong. They probably are.
• Be faithful. Stand behind your friends, colleagues and clients — if they need help or a good word, you should be there for them.
• And finally . . .

Be thankful. You are a wonderful human being. Take pride in what you've accomplished. Look at your mistakes and failures as learning opportunities and grow from them. Focus on your strengths and see how far you can take them. Just a small push can work wonders.

"Never, Never, Never, Never Give Up."

If you have any other additions, let us know! I would love to hear how you feel about this quote.

Are You Ready For Success?

Success means having the courage, the determination, and the will to become the person you believe you were meant to be." - George Sheehan Most of the time it's not the place, the time, the people, or the circumstances. It's YOU.

It's not the obstacles or lack of opportunity. It's YOU.

Successful people blast through obstacles and make their own opportunity.

It's that simple. So start today by looking inside and be the person you believe you were meant to be.

Change Is Like A Locomotive Rocketing Down The Tracks.

Some sage advice from Peter Drucker: "Everybody has accepted by now that change is unavoidable.

But that still implies that change is like death and taxes — it should be postponed as long as possible and no change would be vastly preferable.

But in a period of upheaval, such as the one we are living in, change is the norm."

A Powerful Sunday Message.

"Every time you suppress some part of yourself or allow others to play you small, you are in essence ignoring the owner's manual your creator gave you and destroying your design." - Oprah Winfrey Do you allow others to 'play you small'?

Do you ignore your 'owner's manual'?

Are you 'destroying your design'?

Take an hour today and start making a significant change in your life.

And don't worry about what other people might think.

A Powerful Thought For Friday.

"The way to get started is to quit talking and begin doing."

- Walt Disney

Move Your Money.

Let's talk about the huge, growing chasm between the fortunes of Wall Street banks and Main Street banks. Let's start discussing what concrete steps individuals can take to help create a better financial system.

Let's get practical — and with some help from friends in the world of bank analysis, a video and website were produced devoted to a simple idea: Move Your Money.

Please watch and send to all your friends. Thank you.

Which Future Will You Choose?

Things are going from bad to worse, right? People have their priorities upside down. Marriages are falling apart. The economy is in shambles. The environment is deteriorating. Worse, the younger generation doesn’t seem to care. The future looks bleak.

If that’s what you think, then think again. Watch this video. Share it with your children, your youth group, and the 20-somethings in your workforce. Then have a conversation about what is possible if we make different choices.

From MichaelHyatt.com

Things I learned from Warren Buffett.

I just went back to my notes from a video of Warren Buffett speaking his mind. Here are a few of his tips on investing, business, and life.

• There are no called strikes in the ballgame of investing. You do not lose a single penny by passing on any given investment. Even if someone else hits a homerun with it, doesn’t mean that you are missing out. That said, you will have to swing the bat if you ever want to get anywhere. Just make sure it is a good pitch.

• Do business with people you like and who share your objectives. Money should not be only consideration when making business decisions. We have all worked with some people who we would have paid any amount NOT to work with. If we could quantify joy and happiness, it would be easy to see that working with people you like would far outweigh the joy received by getting more money with bad business partners.

• Invest in companies selling products that consumers are not concerned with price.

• It’s not about the biggest motor, but the most efficient motor. A smaller company that is run efficiently is going to do better for their shareholders than a mammoth company with wasteful spending.

• Don’t worry about what the stock market will do, focus on what the company will do. Good companies can and will go up even in the middle of falling market.

• With stocks it is hard to know WHEN something will happen, but it is easy to know WHAT will happen. Everyone seems to be concerned with the WHEN, but focusing on the WHAT seems to yield a nice fruit.

• Find companies with endless demand for their products. Funeral homes will always be needed, because people are still dying.

• Leave your children enough money so they can do anything, but not enough that they don’t have to do anything.

• Decision making abilities fade as cash flow increases. If you only have $5 in your pocket until the end of the week, it is likely that you will make a good decision with it, because it is all you have. On the other hand, if you have $100 for the week, your decisions regarding a $5 purchase are far less critical since you have another $95. Therefore, people tend not to treat those decisions with the same respect they would if it was their last $5.