Setbacks and Your Unfolding Success Story

July 15, 2024 by Shmuel Katz Leave a Comment

Maybe you didn’t know, but the creation of chocolate chip cookies was an accident, thanks to Ruth Graves. She thought the broken chocolate pieces she added to the cookie dough would melt and make chocolate cookies (as opposed to chocolate chip cookies). Now we all profit from this mistake.

Repositioning how we understand setbacks, along the way to success, is a powerful method to mining a more precious yield.

It will become clear throughout this article that the perception of a mistake being made would be the actual mistake. This is true in the given scenarios and so too we can adopt this for our own tasks & ventures.

Post It Note

Dr. Spencer Silver, a chemist at 3M, happened upon a low-tack adhesive (an easily removable weak adhesive). Silver was intending to create a super-strong adhesive that did not meet the initial goal and “failed”.

Art Fry, another 3M scientist, didn’t dismiss the failure, he saw potential. He repurposed the weak adhesive to create sticky notes, a seemingly trivial yet revolutionary product. The “failure” of creating a potent adhesive became the essence of the Post-it note’s success, giving rise to new ways of organizing and communicating information.

Penicillin

Alexander Fleming discovered penicillin as a complete accident.

In 1928, Alexander Fleming returned to his laboratory after a vacation to find one of his Petri dishes (filled with Staphylococcus bacteria) had mold growing in it. Surrounding the area where the mold was there was no bacteria present. Fleming understood that the mold was killing the surrounding bacteria. Rather than seeing that dish as failing to test what he was previously testing, he observed a completely new direction to iterate upon and released the first antibiotic in 1929.

The Microwave

Percy Spencer, an engineer at Raytheon, was working around microwave radiation in 1945, when he noticed that a candy bar in his pocket had melted due to the microwaves emitted by the equipment.

Instead of seeing this as unwanted, he became curious and tried heating up other foods like popcorn kernels and eggs. Realizing that this much faster method is a viable way to cook, he created a metal box to contain the emitted microwaves and filed for a patent.

Play-Doh

Play-Doh wasn’t intended for children’s play but as a wallpaper cleaner (marketed at “Kutol”). Wallpaper cleaning demand fizzled, but the owners stumbled upon an unexpected use. Now, these iconic colorful containers are quite a recognizable success story. Here, the product was even intentionally created, but a better market was yet to be discovered.

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There are numerous other well known products that fit this development framework: Velcro (hook-and-loop fastener), Charles Goodyear’s vulcanized rubber tires, and even the pacemaker.

Accidental Understanding of the Universe

Even discoveries surrounding the makeup of our universe happened by accident. In 1964, Arno Penzias and Robert Wilson stumbled upon faint light that remained from shortly after the Big Bang. Not understanding what was coming through their radio telescope, they genuinely thought this was the work of pigeons on the roof of the building and deemed the reading incorrect! Little did they know, they had just received some of the earliest created light in the universe. They also couldn’t have known that this mistake would bring forth clearer understandings of the early universe, its continuing expansion, as well as methodology shifts for future astrophysicists as they carry out modern day discoveries.

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Embracing unexpected results are key. Not all events are going to culminate with a great invention, but we can feel confident that these “failures” are further developing our great products and services, despite what the present situation or others seem to suggest.

It is normal to feel resistance to the idea that a mistake could actually be a great success, but a shift in perspective can be so powerful that it changes everything.

When it is difficult to see a greater perspective in your own situation, remember back to these worthwhile discoveries and take it as a reminder that you’re on the way to your next great contribution.

Retain Your Employees, Retain Your Revenues

July 9, 2024 by Shmuel Katz Leave a Comment

According to Gallup, the cost of replacing an individual employee can range from one-half to two times the employee’s annual salary, and that is reporting conservatively. If, however, voluntary employee turnover is of significant concern, these costs may be the least of your organization’s concerns.

Uproot the bottlenecks, cultivate a strong culture, and plant your committed workforce.

The average worker will seek growth opportunities and a team that meshes well in order to stay engaged and fulfilled. The question is, are your employees finding this at your organization, or will they find it elsewhere?

Sincerity is the Master Key

Even for employees who are soon ready to move on, if their pain points are relieved, they might find a second wind of investment back into the organization. This is especially true if they recognize that the company is authentically investing into their present and future. When this is felt, the conversation shifts from a business arrangement to a relationship of growth and building futures — for both parties.

Employee Retention Is Not Supposed to be Perfect

If it’s time for an employee to move on, it is important to know how to enable a good departure. Having an effective offboarding process is also important for employee retention. When employees know they’ll be looked after in the future, they have no reason to rush away.

Opportunities

So long as there is what to strive for, there will be what to engage with. If an employee doesn’t see growth in their position or the organization, they will most probably have an exit plan in mind.

For an organization to stay healthy, employee development must be a natural part of the structure. Whether this is through training programs, job rotations & cross-training, promotion opportunities, or something unique to your organization, it is most important that the employees feel that there is a future for them to mature at the company.

Do you have a worthwhile employee to promote without a position to elevate them into? Build a forward looking project around this worker’s skills. Organization‘s often have a surplus of projects and ideas, but lack the people to bring them to life. Whether it’s a project to support the core of the organization, or a venture into a new area entirely, empowering an existing employee could be the next exciting win-win.

Invest in Loyalty

A Little Goes a Long Way

It doesn’t have to be a company wide award, a major social media announcement, or an employee appreciation gala (although any of which could be effective). A simple and sincere “thank you” or “good work” reaches to that essential element of feeling needed. A small token of appreciation (i.e. brownies in the office or shipped to homes), a shoutout during a team meeting/company wide email, or even a short handwritten note reinforces that their efforts are aiding the organization beyond what they may be able to see.

A Listening Ear Goes an Even Longer Way

You may not know what an employee values or hopes to achieve. Asking well thought out and intentional questions, deeply listening (and holding back from speaking) will often build stronger and clearer bridges.

Transparent Communication

Ensuring open and honest communication to your organization will avoid surprises and unease. Tactful communication shows respect for employee needs and in turn builds confidence.

Additionally, employees should feel comfortable sharing their thoughts, ideas, and concerns. An anonymous suggestion box may make it possible for even the most intimidating of C-suites to receive critical and crucial feedback.

Competitive Compensation and Benefits

Providing competitive salaries and comprehensive benefits packages is critical for attracting and retaining top talent. This includes health insurance, retirement plans, paid time off, wellness programs, and other perks that demonstrate the company’s investment in its employees’ overall well-being.

Attention to Wellness

If employees sense that they are only worth their work contribution, it will become very easy to perceive the grass greener elsewhere. On the other hand, if employees sense that their home life, personal well-being, and life goals are being taken into account, they are much likelier to feel aligned with their current organization.

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If any of these approaches are done insincerely, it can have the reverse effect and quickly erode trust.

An employee who knows their job matters, has good coworkers, and gets paid fairly has good reasons to stay with their company.

If you were new to your organization, could you see yourself there for the foreseeable future?

Raising Profitability: The Competitive Advantage of Honesty

December 18, 2023 by Shmuel Katz Leave a Comment

What might happen to your wage negotiation power if you are more profitable for your company & board of directors?

Fully transparent honesty will earn you and your company more sales. This is not just a nice idea, Mark Pigors & Bettina Rockenbach have tested and shown that it actually works, while not doing so could be harmful.

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“We find that when producers’ honesty is fully transparent to consumers, being honest provides a competitive advantage. Honest firms make higher profits by selling more units, albeit not at higher prices. The synopsis of the treatments shows that this result only holds when producers’ honesty is fully transparent . . . When information on honesty is completely absent, honesty is detrimental for the firm’s profit.”

The paper goes on to highlight, “[Our findings] show that in order to exploit the competitive advantage of honesty, the firm (or any party interested in promoting honesty) has to strive for full transparency on the honesty of the market participants.”

[The paper entitled, “The competitive advantage of honesty” can be found at https://www.sciencedirect.com/science/article/pii/S0014292116301404]

Do you have comments, questions, or suggestions? Share with us at: [email protected]

Stride to Success: Take a Walk with the Greats

December 13, 2023 by Shmuel Katz Leave a Comment

Join the ranks of legends of all types: Albert Einstein, Aristotle, Winston Churchill, Steve Jobs, Sigmund Freud, and others. What do they all have in common? They made time for regular walks and built their thinking & meeting time around them.

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A simple walk can be so impactful, especially if our plate is full or overflowing, however, it still may feel difficult to fit in all our priorities.

Walks can be naturally integrated into a schedule without disrupting the day. The opportunities are many: begin a walk upon receiving a phone call (especially the lengthy ones), park the car further away for those extra footsteps, build a walk into wake up or wind down routines, utilize a portion of your lunchtime for a digestion walk, get off one stop before your destination on public transit in order to walk the rest of the way, and of course, walking meetings/discussions.

By reframing the importance of a walk, it will become easier to make them happen:

Reduced Sedentary Time

It is easy to get lost in our sitting (or even standing) workspaces. Besides for the benefits derived directly from walking, being active also counteracts the pitfalls of staying stationary for too long.

Because it is easy to stay sitting for too long, walking, for most, is a simple and proactive solution.

Relationship and Connection

Whether or not we are taking a walk with somebody (i.e. conducting a walking meeting with a client/coworker, or catching up with a friend), walking can prompt a focus outside of ourselves. This shift in focus can bring us the much needed reset we may not have known we needed.

Humans are social & connective beings with a need for interaction. Even if we don’t know the people we are walking by (nor actually say “hi”) there is basic and important connection being made by walking about. Additionally, we naturally connect to our environment. As we walk by plants, animals, and receive a rush of wind, we are widening our focus, even temporarily, and taking care of our connective needs.

Physical & Mental Health

Blood flow & mood reset are the low hanging fruit of taking a walk. Our bodies are built to be active. As we help our blood flow more easily to the rest of our body, delivering oxygen and nutrients to our brain & body’s tissues, we can be confident that we’re aiding a physical reset. As we take a brief break from our working environment, we can guide ourselves to reset our stress levels & refresh our mood.

Creativity, Focus, & Productivity

Physical activity does wonders for our thinking. Whether we pair it with quiet time for ourselves or engaging in conversations and problem-solving discussions, we can step into fresh perspectives and renewed innovative thinking. Our creativity, focus, and productivity are essential elements in our value creation, however, they can only be as effective as our self care.

Various studies and researchers have even concluded that adopting a habit of walking will aid in a longer and healthier life.

Walking is a paramount example of how consistent and small investments can add up to a profound outcome. After half an hour, you can expect to have walked 1-1.5 miles (for those walking between 2-3 miles per hour). At a rate of three times per week over 50 weeks, that is 150-225 miles built into the year!

This small investment in your schedule may be your ticket to walking confidently with the greats.

What aspects of your routine, if shared, would others benefit from?
We’d love to hear from you at [email protected]

The Much-Needed Vacation

December 11, 2023 by Shmuel Katz Leave a Comment

For how many people do work thoughts pop into mind when on vacation? By fully taking the time off, we are more inclined to properly rejuvenate and make a revitalized and excited return to work.

A healthy work life balance has become an obvious priority for many companies. When it comes time for a vacation it may not be enough to simply take time off and check out from work. By setting intentions and carrying out purpose with our time off, we’ll be less inclined to think about work during the break.

Instead of solely prioritizing the cessation of work tasks, it is also beneficial to have intentionality and uplifting activities (and even goals!) to look forward to for the time off.

Having personal goals, and taking maintenance & wellbeing seriously, have great impact on both the short & long-term.

Let’s look into some areas of interest to make this a reality:

Hobbies

Many have shelved hobbies collecting dust. When space is given for focus on those hobbies, a wholesome revitalization often accompanies with it. Besides the profound personal benefits, people who have enjoyable hobbies will also be better workplace employees. Everybody wins. Additionally, companies who genuinely encourage employee wellbeing will reduce turnover and find their employees investing back into the company.

Relationships

Another great area to focus on are social, familial, and communal circles. These relationships help us self-actualize and have effect in and outside of work. When in a work rhythm, it can be hard to allocate extra time and energy, even to those important to us. Nurturing healthy relationships can have profoundly positive effects in multiple (and unforeseen) arenas of life. When time away from work is granted, consider investing some of it in this direction.

Something Completely New

In order to jump into something new, preparation and extra time are sometimes required to make it worthwhile. Continuing a personal project may be a big investment, but may require less adjustment time as it is flexing familiar muscles. To engage in a new experience may not be as straightforward and may require time to adjust.

For example, going camping for a night is a wonderful thing (for some), but the connective feeling of nature is just settling in as it is time to leave the campsite. On the other hand, two or three nights (or more) may yield radically upgraded benefits in comparison. Some of the most impactful experiences require the proper amount of time; plan for them when there is time off work.

If leaving work is the goal, what will be the demeanor of the employee at the conclusion of the time off? Many will return unmotivated. That approach is too short sighted and creates unfulfilled employees.

Let’s consider a computer that is restarting. On the surface, it seems as though it is simply powering down, rebooting, and returning ready to work again. When the computer is restarting, however, there are intentional processes happening behind the scenes that allow it to return refreshed.

While it is important for employees to take time off responsibly, it is additionally important for the company to encourage effective vacationing. Inviting this practice into the workplace culture is not only a benefit for the employees themselves, but also for the teams they work with, and the company as a whole.

Do you have comments, ideas, questions, or suggestions? Share with us at: [email protected]