07-JULY 31-2021

“There is no royal, flower-strewn path to success. And if there is, I have not found it. For if I have accomplished anything in life,
it is because I have been willing to work hard.” –CJ Walker

What Worked, What Didn’t, What’s Next?

One of the common denominators of successful people is their ability to persevere when things don’t go as planned.  Effective people don’t allow themselves to get bogged down in feelings that don’t serve their purpose.

On the other hand, ineffective, unsuccessful people allow their emotions to rule rather than their rational and objective nature.  They lament what happened or what didn’t and become victims rather than masters of their circumstances.

We all have disappointments.  We all suffer setbacks.  If we’re going to attempt anything worthwhile, we’re going to experience failure.  The mature – and ultimately successful – person sees failure as part of success.  When one method fails, they try again with a new one.  Sometimes it takes many attempts.

In my coaching/consulting work, I see all too often the tendency to fix blame instead of fix problems.  Rather than looking at challenges rationally and objectively, emotions are allowed to dictate the process.

They’re unable to make corrections without invalidation.  Something goes wrong and they want to blame.  Profit isn’t reaching fast enough and someone needs to be fired.  There’s never a shortage of people or things on which to blame the failure.

I suggest a different approach.  It’s a process I call, “What Worked, What Didn’t, What’s Next?”

This practice works whether you’re dealing with a business, a relationship, a project or your life.  The key is to evaluate often, objectively and then to move on.

And the more often and impartially you measure and evaluate, the better it works.  It’s just feedback – and feedback is neither positive nor negative.  It’s simply information.  I call feedback the “Breakfast of Champions.”  Looking at what happened with a healthy degree of detachment allows us to make better decisions.

What Worked?
What actions moved us toward our objective?  What’s worth repeating?  What felt good?  What created excellence?

Acknowledge your successes.  Celebrate!  Praise your own as well as the efforts of others.

When you focus on what worked, you begin with positive energy.  And you create momentum toward solutions.

What Didn’t?
OK, where did we screw up?  What created the mistake?  Not who dropped the ball, but when, where and how did we drop it?  How can we avoid it next time?

It’s rarely people who mess up but rather systems that don’t adequately support them.  Most people mean well and try their best.  The focus should be on how to better support one another to reduce errors and increase quality.

There are many ways to accomplish what you desire.  Often, in finding new ways, we create things we never would have if the first or second effort had succeeded.

Acknowledge the mistakes, make new plans and devise new strategies.

What’s Next?
Regardless of how well or how badly things went, it’s history.  Nothing is going to change the past.  Being upset about it, feeling guilty, placing blame or even resting too long on our laurels will cause us to lose headway.

One might be wise to us the U.S. Marine Corps acronym, FIDO – Forget It, Drive On.  But I would add one more piece: learn from the experience.

After you analyze what happened, the question should be, “What’s next?”  This takes the focus off from what’s happened and places it on where we’re going and what needs doing.

You can quickly go through this process alone or with a group.  It can take a few moments or several hours, depending on the complexity of the project.

The key is to do it with impartially and objectivity.  Mistakes, corrections and new attempts are merely part of successful ventures.  They don’t mean anything; they’re simply opportunities to create excellence.

July 31, 2020

YESGood morning.
Dr. Frankenstein worked to bring a human back to life by performing a series of operations and introducing a shock of electricity from lightning.  The result was an uncontrol-lable life form that was subject to rage and destruction.
The measures that were taken to limit the spread of COVID-19 has created such a monster as Facebook, Alphabet, Apple and Amazon show that the previous quarter of closures were more than kind.  The flipside of the regulations is the destruction of smaller competitors.
Have we created a monster that’ll serve to create higher market prices or will it end up consuming the entire system in an eventual bear market?

Now here’s the rest of the news:

The Economic “Rocket” Crashes according to John Persinos.
For the past several weeks, the optimists were assuring us that the beleaguered U.S. economy was poised to take off like “a rocket ship.”  That seemed to be their favorite bullish metaphor.
Houston, we have a problem…
The U.S. Commerce Department reported Thursday that gross domestic product (GDP) plunged by a shocking 32.9% in the second quarter on an annualized basis, the worst quarterly decline ever (see chart).

statista

Over the past 200 years, the U.S. has never witnessed an economic decline of this speed & magnitude.  Neither the Great Depression nor the Great Recession saw this sort of contraction.
For context, the worst quarter during the financial crisis of 2008 was the 8.4% GDP drop in the fourth quarter of that year.  In 1932, at the nadir of the depression, the economy shrank that year by 14% (the government didn’t start keeping quarterly GDP records until 1947).
Official pronouncements this year about the economy and the pandemic have been consistently wrong.  Back in February, high-level policymakers were insisting that the coronavirus was contained and the economy was holding up nicely.  Um, no.
Pandemic-induced business closures and quarantines will remain with us into the foreseeable future.  America now faces the worst of both worlds: a surging coronavirus pandemic & a collapsing economy.

Here’s the good news: You should not exit the stock market.  In fact, later in this article, John will pinpoint a way for you to not only stay invested but also reap outsized gains.  Despite this unprecedented crisis, our savvy investing team can steer you toward money-making opportunities.  But first, let’s take an unvarnished look at reality…  [read complete article here!]

SAY OF THE DAY

“To improve is to change, to be perfect is to change often.” —Winston Churchill

July 31, 2019

Welcome to the Unsplash Community

For over five years, 128,000+ contributors have been building the largest library of freely usable, high-resolution photos anyone can use for anything.

Today, more than 900,000 photos are on Unsplash.  We’re honoured to have you join the most generous photo community in the world.

Browse the best of Unsplash

View the gallery…

Browse the best of Unsplash

Follow Unsplash for news and inspiration…  🙂

IMG_0712
Come From Aways, Do You?

More Posts

01-JANUARY 26-2022

Good morning. In spite of 7 percent inflation rates right now, consumers are continuing to spend.  While their overall confidence has dropped, the actual spending itself shows that the economy, largely dominated by such spending, is likely to continue moving higher this year. If inflation rates start to decline in the coming months, the market could be setting up for a solid return as the current fears abate.  Given the latest data showing that consumers continue to be interested in buying homes, automobiles, and appliances this year, even a small change higher in interest rates will unlikely derail the economy’s

01-JANUARY 25-2022

Good morning. On Friday, the stock market broke its 200-day moving average lower for the first time since July 2020.  Stocks are looking at oversold levels going into the weekend, with many names down much further than the overall stock market index.  But yesterday’s wild trading saw a massive drop reverse into a gain at the close. This reversal could be a sign of capitulation by sellers, and that the worst of the current decline is over.  With leveraged traders already wiped out, and plenty of cash from retail and institutional investors on the sidelines, the market could see a

01-JANUARY 24-2022

Good morning. Markets had $3.3 trillion reasons to be volatile last week.  That was based on the notational value of options expiring on Friday.  That included $1.3 trillion for individual stock positions alone, the second-highest on record.  Traders repositioning those trades ahead of expiration last week may have contributed to the big selloff, which finally started reversing on Friday as Treasury yields started coming back down. Given the growth of options trading, this phenomenon of added volatility into options expiration weeks may continue for the foreseeable future.  While February’s contracts are far lower in value, the next big hump will

01-JANUARY 23-2022

Today! January 23, 2021 “Creativity is an action, not a feeling.  Your work is too important to be left to how you feel today.”  –Seth Godin Power Thought That Raises Awareness Whenever we’re talking about personal transformation — whether it’s physical (lose weight), financial (get out of debt), mental (overcome anxiety), spiritual, relational (repair a broken relationship), etc. — what we’re really talking about is change.  And for most, that can be scary.  In fact, many people don’t even entertain the idea of change until the pain of not changing becomes unbearable. In other words, you have to be ready and willing

01-JANUARY 22-2022

Today! January 22, 2021 Good morning. The trade war.  The pandemic.  The election.  All the big catalysts that can move markets up or down are now off the table.  So what’s next?  Until a new catalyst emerges, expect markets to drift. With markets in a long-term uptrend, the drift will likely be higher.  Individual names can still have some big news on corporate announcements and earnings reports.  And look for potential catalysts that could provide the market’s next big move, whether higher (stimulus) or lower (war, pandemic, today’s high valuations). Now here’s the rest of the news: A “Cash Panic”

01-JANUARY 21-2022

Good morning. Fears of rising inflation are likely to peak this year.  That’s good news.  And with news that major spending bills would be broken up, the likelihood of further fiscal stimulus to drive inflation higher is also likely to help there. In other areas, however, the economy is showing signs of a slowdown.  Jobless claims have risen to a three-month high.  Home sales have slowed after a massive boom in the past 18 months.  And now, expectations are that the trans-Pacific cargo trade are now rising to a three month wait time on average.  With a longer wait time

01-JANUARY 20-2022

Good morning. While the stock market has largely been focused on rising interest rates in the past few weeks, the start to earnings season this week has been subdued.  Many of the big banks have started to report numbers.  And banks should be faring well even with higher rates of inflation going on right now. However, bank earnings have overall been lacklustre, as many banks have reported trading losses that have offset the gains made from a big year for mergers and IPOs. If bank earnings aren’t enough to get the markets excited and moving higher, chances are we’re in

Like this article?

Share on facebook
Share on Facebook
Share on twitter
Share on Twitter
Share on linkedin
Share on Linkdin
Share on pinterest
Share on Pinterest

Leave a comment

Send Us A Message