The following are five questions leaders should be asking heading into December:
Permanent Information vs. Expiring Information
On pages 182-183 in his new book Same As Ever: A Guide To What Never Changes, Morgan Housel discusses the difference between Permanent Information and Expiring Information.
Permanent Information are things you will care about one, two, five and ten years from now. Because it never expires, you accumulate more and more of this over time. Your knowledge base compounds. You have to work to learn Permanent Information. It’s high-fiber. Think books. When hard times come, Permanent Information is what you will fall back on because it has always worked and will continue to in the future. Permanent Information is timeless. You respond to circumstances rather than react.
Expiring Information is how you performed last quarter. It will easily be forgotten in the future. Expiring Information is about what happened, not why and how to handle what will happen in the future. It’s cotton candy. Think headlines. It lacks context or nuance. Expiring Information is good for only a short period of time. You react to circumstances rather than respond.
Successful leaders focus on gaining Permanent Information. Because they do so, they have built a vast and compounding amount of wisdom and insight. Leaders, what information are you consuming which will help you prepare for and navigate 2024 regardless of the challenges you will face?
For a deeper dive into leadership lessons from Housel, click Morgan Housel’s 5 Ways Organizations Lose Their Competitive Advantage. #CommissionsEarned
“The Fall Is Going To Kill You”
In this West Wing clip from season 2, White House Communications Director CJ Craig and Deputy Chief of Staff and Chief Political Advisor Josh Lyman are dealing with the fallout of President Josiah Bartlett withholding his multiple sclerosis diagnosis during his presidential campaign. The following is their sobering conversation:
President Bartlett and Chief of Staff Leo McGarry were worried about polls rather than the fact they would soon be accused of defrauding the American people and committing a series of federal crimes.
Leaders, do you know what the real problems are that need solving in 2024? If not, the fall is what is going to kill you.
The Importance Of Picking The Right Leader
In 2021, quarterback J.J. McCarthy was a 4-star prospect who desperately wanted to play for the Ohio State Buckeyes. However, Buckeyes head coach Ryan Day chose to offer a scholarship to Kyle McCord instead. As a result, McCarthy signed with the archrival Michigan Wolverines and has held a grudge ever since.
As told in this article from The Athletic, McCarthy “hated Ohio State after what Day and his staff did to him.” He elaborated, “I get it’s a business. But it always sucks being lied to. And that’s kind of where the rivalry started for me, and the hatred. But what are you going to do? It’s a business and they have to do what they have to do. They lied to my face, but it’s all good now.”
Why is it good, because the McCarthy-led Wolverines have beaten the Buckeyes the last two years. This year, the Buckeyes were quarterbacked by McCord, the person offered the scholarship rather than McCarthy. Many people feel Day picked the wrong on-field leader for the team.
Leaders, do you have a system in place for selecting the right leaders for your organization? If you have made poor leadership selections in the past, have you did an autopsy to discover why so you can avoid making the same mistake again?
For a deeper dive on this topic, click 8 Things You Must Do To Be Picked Over Others For A Leadership Position.
Processing Information Quickly
In the Thursday, November 30 broadcast of The Herd With Colin Cowherd, NFL Films analyst Greg Cosell broke down why San Francisco 49ers Brock Purdy is so effective. He said, “He is as good as there is in the game as a processor of information quickly.”
Purdy has an innate ability to see, read, and react to constantly changing information instantly. This allow him to avoid unnecessary mistakes and properly execute to team’s game plan.
Leaders, as you head into 2024, have put in the necessary hard work to gain the experience, wisdom, insight, and intuition needed to react to constant changes in your industry?
For a deeper dive into the leadership of the 49ers quarterback, read 10 Statements on the Faith and Leadership of San Francisco 49ers quarterback Brock Purdy.
A Culture Of Innovation Requires These 3 Things
Innovation is rarely drifted into. It requires aggressive probing, experimentation, out-of-the-box thinking, and trial and error. If you want to do something no one has ever done before, you need to think and approach things differently than anyone has before.
A “Hail Mary” pass takes place late in the first or second half of football games. The offense sends five players into the end zone while the quarterback throws the ball high in the air hoping someone will miraculously catch it. As the ball is approaching, the defense is traditionally taught to “knock it down.”
But his past week, Miami Dolphins safety Jevon Holland approached the Hail Mary pass differently. The results were historic as you can see by clicking the image below:
Click to Watch
Never before in NFL history had someone returned a Hail Mary pass for defensive touchdown. Afterwards, Holland said in this article, “We going into the half, right, so I’m like we can double dip. I know we get the ball after halftime, so I was like, let me go ahead and score or try to score so we can double dip and just score again, so that we’re two scores back and back. So, no thought of knocking anything (down).”
The following is what we learned about innovation from Holland’s comments:
- You must constantly be looking for opportunities to innovate. Holland said, “We going into the half, right, so I’m like we can double dip.”
- Be aggressive. There is a difference between sensing opportunity and seizing it. Holland added, “I know we get the ball after halftime, so I was like, let me go ahead and score or try to score so we can double dip and just score again.”
- Think differently. Holland concluded, “So, no thought of knocking anything (down).”
For a deeper dive into the subject of innovation, read 5 Facts About Innovation All Leaders Should Know.
Leaders, are you hoping to build a culture of innovation in 2024? If so, are you constantly looking for opportunities, being aggressive, and thinking differently than others?
Conclusion
Leaders, the following are five questions you need to be asking as you head into December:
- What information are you consuming which will help you prepare for and navigate 2024 regardless of the challenges you will face?
- Do you know what the real problems are that need solving in 2024?
- Do you have a system in place for selecting the right leaders for your organization?
- Have put in the necessary hard work to gain the experience, wisdom, insight, and intuition needed to react to the constant changes in your industry?
- Are you hoping to build a culture of innovation in 2024? If so, are you constantly looking for opportunities, being aggressive, and thinking differently?
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