One of my early business mentors told me “you have to be half the price or triple the value for someone to switch from their current provider”. People don’t switch from Sears to Amazon for a couple of pennies… the new had to be much better than the old.
If you were competing with yourself, or competing with your business – how would you attack? Where is that weakness? Fix that. Don’t wait for the customers to discover that someone else does it for half the price or triple the value… because it will be very hard to get them back.
Nothing brings more opportunity into your life than speaking well in public.
I have been teaching for 16 years on many leadership programs at IESE Business School. Today I’m sharing a playlist of a series of videos that we put together as an introduction for participants of future courses.
There are 10 videos in the full playlist with a total duration of about 60 minutes.
If you are to build a great business, you need to know how to hire great people. There are 3 things you want to see in a person to know that they will make a lasting positive impact on the organisation.
Can they do the job today
Will they do the job long term
Do they fit with the team
What do you look for in people when you are deciding whether to make an offer? What red flags have you identified?
I’ve had a few people asking me for specific details on the kit I use to make videos for my YouTube Channel. The most basic videos, I make with my iPhone 7. Enter photo app, selfie mode, hit video and talk. My friend Seb Lora has over 220K youtube subscribers and does most of his non-studio videos with his iphone.
Camera: My main camera is the Canon G7X Mark II. There is a big vlogging decision to make between DSLR or “Mirrorless” camera. DSLR are bigger, heavier but get a better image (especially depth of field – those crisp foreground images with blurrer background). “Mirrorless” such as the G7X are lighter and easier to carry around with you. My decision was to go with the camera that is easier to carry.
Audio: For YouTube vlogging, I was surprised to discover early on that poor sound is more damaging to your video content than poor image quality. People can cope with low quality video, but they really hate low quality sound.
Video Editing Software: I use Final Cut Pro on the Mac to do my video editing. I used iMovie before, but found myself quite restricted in terms of what I could do with multiple cameras and audio tracks.
Conor’s Vlogging Kit in Detail
Here’s a full list of all the bits and pieces that make up my vlogging kit. Here’s the full list as an Amazon.com wish list: Conor’s Vlogging Kit.
This video comes from the foothills of the Wicklow mountains, near my parent’s house in Dublin. I was teaching at the UCD Smurfit Business School and then spent the weekend down in Wexford at the opera festival. My parent’s have been big supporters of this festival over the last 20 years and it was important to me to see it with them.
What Lesson Have You Learnt?
I ask a question: What is the most important lesson you have learnt in life? I’d love to hear from you. What would you say is the most important lesson you have learnt about living life well?
In his TED talk, Stephen Duneier explains that what defines him are not titles, but an approach to decision making that transformed him from someone who struggled with simple tasks to a guy who is continuously achieving even his most ambitious dreams.
For thirty years, he has applied cognitive science to investing, business and life. The result has been the turnaround of numerous institutional businesses, career best returns for managers who have adopted his methods, the development of a $1.25 billion dollar hedge fund and a rapidly shrinking bucket list.
“Every one of my report cards basically said the same thing: Steven is a very bright young boy, if only he would just settle down and focus.”
“What they didn’t realize was I wanted that even more than they wanted it for me, I just couldn’t. And so, from kindergarten straight through the 2nd year of college, I was a really consistent C, C- student. But then going into my junior year, I’d had enough. I thought I want to make a change. I’m going to make a marginal adjustment, and I’m going to stop being a spectator of my decision-making and start becoming an active participant.”
“And so, that year, instead of pretending, again, that I would suddenly be able to settle down and focus on things for more than five or ten minutes at a time, I decided to assume I wouldn’t. And so, if I wanted to achieve the type of outcome that I desire – doing well in school – I was going to actually have to change my approach. And so I made a marginal adjustment. If I would get an assignment, let’s say, read five chapters in a book, I wouldn’t think of it as five chapters, I wouldn’t even think of it as one chapter. I would break it down into these tasks that I could achieve, that would require me to focus for just five or ten minutes at a time. So, maybe three or four paragraphs. That’s it.”
“I would do that and when I was done with those five or ten minutes, I would get up. I’d go shoot some hoops, do a little drawing, maybe play video games for a few minutes, and then I come back. Not necessarily to the same assignment, not even necessarily to the same subject, but just to another task that required just five to ten minutes of my attention. From that point forward, all the way through to graduation, I was a straight-A student, Dean’s List, President’s Honor Roll, every semester.”
“I then went on to one of the top graduate programs in the world for finance and economics. Same approach, same results. So then, I graduate. I start my career and I’m thinking, this worked really well for me. You know, you take these big concepts, these complex ideas, these big assignments, you break them down too much more manageable tasks, and then along the way, you make a marginal improvement to the process that ups the odds of success in your favor. I’m going to try and do this in my career. So I did. I started out as an exotic derivatives trader for credit Swiss. It then led me to be global head of currency option trading for Bank of America”
Mr. Duneier teaches graduate courses on Decision Analysis in UCSB’s College of Engineering. His book, AlphaBrain is due for release in early 2017 from Wiley & Sons. Through Bija Advisors, he helps business leaders improve performance by applying proven, proprietary decision-making methods to their own processes. His artwork has been featured around the world and is represented by the Sullivan Goss Gallery. As Commissioner of the League of Professional Educators, Duneier is using cognitive science to alter the landscape of American education. He is the former Head of Currency Option Trading at Bank of America and Emerging Markets at AIG International.
It’s a “first world problem”. Flight delays. When air travel works, I love travelling as a speaker and teacher. When there are delays… I start to reconsider how much it should be worth to leave my comfortable home city of Barcelona.
What to do when your flight is delayed?
Step 1: be grateful that I am travelling alone, and not with my kids.
Step 2: buy some food before the shops in the airport close and I am left starving.
Step 3: hope that the connection in Madrid waits for us.
Step 4: start writing…
Here’s one ugly looking departures screen at Barcelona airport this evening. There’s some storm hitting Portugal at the moment.
What I do when I am waiting? I write blog posts, I update my IESE technical notes, I add thoughts and ideas to my journal.
I’m sitting here for the next 2 hours… so hit me with your comments and let me know how you handle flight delays?