Are You Still Trying to do More With Less?

You can’t go too long in today’s business world without someone mindlessly spewing the infamous: “We’ve got to do more with less.” There is little doubt that over the years this has been—and sometimes continues to be—the mantra of some of the best and the brightest business minds. But what if what once was true fades and crumbles into myth? What if the world isn’t what it used to be? What if it’s possible to have too much of a good thing?

Dallas Mavericks owner, serial entrepreneur and (TV show) Shark Tank shark Mark Cuban once said, “If you’re looking where everybody else is looking, you’re looking in the wrong spot.” Furthermore, Malcolm Gladwell in his most recent best-seller “David And Goliath” leans heavily on the concept of The Inverted U. The Inverted U for the sake of this discussion could also be called the Law of Diminishing Returns. (Note: I’m certain there are probably finer points between the two but at this moment’s 50,000 feet let’s just envision them as synonymous, at least for now.)

The point being, less can reach a tipping point where there is so much less that what’s left is not enough to be effective (i.e., competitive and profitable). Makes sense, yes?

I am not a fan of New Year’s resolutions and such so please don’t misread the timing of this post. Instead, I want to share with you this epiphany:

“Doing more with less” is out. It is at this point a fool’s game. It’s time to break from the pack. Today I propose that the new black is…”Doing more with better.” That is to shift attention to increasing quality as well as efficiency; to invest in processes and personnel that will continue to add value time and again over the long run; to stop pinching pennies and figure out ways to make dollars; and to seek opportunities with growth-minded organizations and individuals.

Yes, being lean and financially savvy is important. It always has been and it probably always will be. However, if the dollar you save on product / service / employee today leads to lost opportunities tomorrow then you didn’t save anything. You instead (as the cliche goes) shot yourself in the foot. Look around. How many brands and companies to you see hopping around on one foot? Too many, yes?

This is why I recommend you plant both feet back on the ground, define your goals and then commit to a mindset of “Doing more with better.”

 

 

 

 

 

 

 

What is your IAR (Ideas to Actions Ratio)?

I’ve done it. You’ve done it. We’ve all done.

We come up with (what has the potential to be) a great idea and then we pat ourselves on the back because we think we’ve done something amazing. As if one idea in the massive and endless universe of all ideas is somehow instantly special. Really? Think about it, what are the odds? It can’t be that simple, can it? Actually, it’s not.

Over the last couple weeks I have apparently been serendipitously blessed with the inspiration and content for this article.  Two fortune cookies and a tweet from Mark Cuban. Yeah, I feel the same way, who knew?

There are no shortcuts to a place worth going.
“There are no shortcuts to a place worth going.”

Sloth makes all things difficult, industry all easy.
“Sloth makes all things difficult, industry all easy.”

Mark Cuban: Ideas are easy. The hard part is making a business.
Mark Cuban: “Ideas are easy I’ve never met a single person who didn’t think they had a world class idea. The hard part is making it a business.”

 

The bottom line…ideas are overrated. Without actions, without follow up, without persistence, without growth, without the glimmer of a plan,  ideas are about as valuables as dandelion seeds aimlessly floating in the wind. Or, as it’s rightfully said, “A penny for your thoughts.”

You’ve got a great idea? Super, you and a gazillion other people. The real question is, what are you ready, willing and able to do about it? What is your Ideas to Actions Ratio?

Mark Cuban makes more sense

Those of us who are honest will probably admit that the initial impression of Mark Cuban can best be described as a part of my anatomy that one doesn’t get to see without using a mirror. And we’re not talking about my tonsils. However, as time goes on Mr. Cuban seems to be one of the few in business who actually has his head on straight – even if his head is the size of a hot air balloon.

“Slow Road to Wealth, With ‘No Shotcuts'” as reported by Wendy Fried (NY Times, Sun 12 Oct 2008). It’s just a couple paragraphs. Good stuff, right?

And if you never caught Mr Cuban’s “What I’ve Learned” interview that appeared in Esquire magazine (www.Esquire.com) in late 2006 then it’s strongly recommended you soak that in as well.

The best of the bunch is Cuban’s, “If you’re looking where everybody else is looking, you’re looking in the wrong spot.” Who knew that his ego left some room for this brain.