Sometimes, well-meaning people plan or take actions that they intend to create a social good or results for the betterment of all, but their actions result in undesirable unintended consequences. The people who were supposed to benefit do not do so and, in many cases, are worse off than before the action. There are many examples from economics or politics.  Here are a few: Rent controls Rent controls are prevalent in New York City. Landlords raise rents to levels that are unaffordable to many people. So, the political solution is to enact rent controls that limit the amount of rent or increases.  Rent...

We have reached the time of the year when sales managers carefully examine the opportunities forecasted to close by the end of the calendar year. Most sales pros are optimistic and often will forecast an opportunity to close by year-end, even if they only had one conversation with the buyer. Most organizations use a sales methodology incorporating milestones or activities to explain an opportunity's stage in the pipeline or funnel. For example, I have used the Miller Heiman sales methodology1 to define where an opportunity is at in the sales funnel, with the activities that occur in each stage, is as follows: ...

What is the “best” sales presentation? How can it be defined or characterized? Is it a flawless presentation, perhaps utilizing the most up-to-date technology designed to awe the audience? And one with no technological glitches, like a poor internet connection or mysterious pauses? Or one with large, readable graphics? Or the slickest? Or one in which the presenter was the most charismatic and articulate? Maybe it would be like the presentations that Steve Jobs used to give at the annual Apple Worldwide Developers Conference or for new product introductions. Or is it the one that best addresses the buyer’s current, future, or even...

“Find a job you enjoy doing, and you will never have to work a day in your life.” ― Mark Twain All of us wish to do what we love (or like) to do and earn a good wage for doing something we enjoy. In my case, I would have liked to have been a professional baseball or hockey player.  But I had no exceptional talent to be a professional in either sport – even at the lowest levels.  So, that dream was never realistic.  A second choice would have been to be a television or radio broadcaster for any professional sport.  However,...

I have read that we must keep lowering standards, such as the educational requirements for elementary and high school kids, where graduation rates and grade point averages have risen. Still, standardized tests show declines in comprehension and academic performance. In addition, the U.S. military and police and fire departments have lowered standards. This was done mainly because not enough people have qualified for the standards in place for ages. It will hurt students later when universities or employers expect them to perform at the levels that they supposedly achieved. There is also strong evidence that there has been inflation in the...

I am often asked this question, and the answer isn't straightforward. Even the most skilled sales managers can attest to the challenge of finding and hiring exceptional salespeople. High-performing salespeople are rare and in great demand. There isn’t a simple answer that applies to every company. My first question in response is, “Are you interested in hiring ‘proven’ salespeople—or in finding and developing salespeople?”  This is a fundamental choice that the company and hiring manager must make. Each has advantages and disadvantages. It also matters whether you intend to utilize a recruiter. Let’s review some of the differences. If you find and hire...

Recently, my electric garage door opener malfunctioned. I called Bob, a repairman I had used before, who diagnosed the problem over the telephone as a bad torsion spring. When Bob arrived, he checked the door and confirmed that the torsion soil spring needed to be replaced. Bob asked me how long I planned to live in my current house.  Was I planning on selling the home soon? I told him we planned to stay in the house as long as my wife and I could live independently, which I hoped would be a very long time, hopefully, many years.  That was a...

Recently, an interviewer asked me what the best advice I had ever received was and, on the contrary, what the worst was.  These were very challenging questions, and I had to ponder for quite a while to determine thoughtful answers.  It was easy to think of some that were not very serious.  Much of what I have been told by trusted relatives, friends, and teachers was well-meaning but not very beneficial. For example, many told me to behave better and not to talk so much in school, which seemed unachievable.  Not everybody who gives you advice has the best intentions;...

Executives at many companies often become what I call “prisoners of the past.” There has been a decision made in the past, by them or somebody else, to choose an investment. This reluctance to make critical decisions due to past investments can have significant consequences. The past investments are typically considered “sunk costs” and should not be part of any investment decision. It may require the executive to admit that the prior decision was sub-optimal or a mistake, or that it is not practical anymore. This may cause the executive to “lose face” in front of their subordinates and the...

The thought has occurred to me that we trust “experts’ to judge hiring, promotions, selections for athletic teams, qualifications for music programs, and other critical life-altering decisions, but what happens when these decisions are questionable? People who are not accepted may choose to continue to pursue those goals, or they may give up. Then, we would never be aware that these people had exceptional talent. I have been reading Elton John’s autobiography, titled “Me,” and read of an incident early in his career.  He and his songwriting partner Bernie Taupin submitted some songs they had written to a studio manager named...