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Month: August 2022

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Growth Leadership Personal Development

Become a Lifelong Learner Yourself – and Talk about What You Have Learned

by Evan Hackel

It might work to say to people, “Go find out about the latest trends in our industry.” But in my experience, people are inspired to do that when company leaders are lifelong learners themselves. In other words, great learning leaders model the kind of learning behavior they would like to inspire in others. Then they actively share their discoveries in meetings and in casual encounters with people.

The more excited you become about what you are learning, the more people will follow suit. One effective approach is to start meetings by talking about something you have learned, and then asking other to contribute too. Another strategy is to start book groups where employees read and discuss important new books; provide the books and hold the sessions during company hours, not lunch hours, to reinforce the idea that learning is a “must do,” not a “nice to have” activity.

Open the Doors and Seek Information in New Places

When you stop to think about it, you are surrounded by people who can help everyone in your company learn. They include vendors, executives at other companies, members of professional organizations, and more. As I wrote in my book Ingaging Leadership, you can learn a great deal from companies in other sectors that are targeting the same customers you are – in other words, competing for the same dollars. How are they marketing, delivering customer service, and more?

To stimulate this kind of learning, create task forces that are charged with the responsibility of visiting other companies, attending conferences, reading business books, and then reporting back about the solutions and ideas they have discovered. One powerful suggestion is to have groups of employees evaluate your competitors and then present their findings to you.

The more you integrate learning with work, the more energized your organization becomes.

Let Employees Step out as Company Experts on What They Have Learned

When employees have learned a lot about a topic, find ways to let them share their expertise with everyone in your organization. You can encourage them to blog about what they know, write articles in company newsletters, and lead training sessions.

Those steps inspire your most enthusiastic learners to learn even more, inspire everyone to identify and master areas of learning that interest them, and further build a company culture where learning is a priority.

Categories
Accounting Growth Human Resources Investing Management News and Politics Personal Development Technology

Is This the Beginning of the End for Wayfair?

It’s been a big week for retail…

Wayfair, the online home goods retailer, announced today it was laying off close to 900 employees. This comes after the company announced a hiring freeze back in May.

The layoffs represent about 5% of the company’s global workforce and 10% of its corporate team. 400 jobs are being cut in Boston alone at the company’s HQ).

This announcement came as an alarm to investors, causing the stock to plummet…

Wayfair’s Stock is Crashing…

For the first two years of the COVID-19 pandemic, the company was profitable. According to The Wall Street Journal, Wayfair’s stock fell by over 17% Friday morning.

Wayfair has been struggling to keep customers after a spike at the start of the pandemic. Earlier in August, Wayfair said it lost 24% of active customers since last summer.

Recent regulatory filings revealed that the job cuts will help Wayfair “manage operating expenses and realign investment priorities.”

CEO Niraj Shah wrote in an letter to employees that the layoffs were a “difficult decision” resulting from Covid-19.

“We were seeing the tailwinds of the pandemic accelerate the adoption of e-commerce shopping, and I personally pushed hard to hire a strong team to support that growth,” Shah wrote. “This year, that growth has not materialized as we had anticipated. Our team is too large for the environment we are now in, and unfortunately we need to adjust.”

 

Is This the Beginning of the End for Wayfair?

Wayfair had flourished at the beginning of the pandemic, when demand for inexpensive furniture and other home decor upgrades that it broke global supply chains and caused lengthy shipment delays.

But fast forward to the present economy, inflation has killed discretionary spending for  middle-income shoppers, who have pulled back their purchases to focus on paying for necessities like groceries, gas and rent. Wealthier customers have shifted their spending from furniture and other goods to travel and services. Mortgage rates have climbed significantly, cutting into demand for new homes as well (a key demographic for the company).

Overall, Wayfair posted a net loss of $378 million during the quarter. Wayfair’s shares have lost about 70% of their value since the start of the year. The layoffs will cost Wayfair between $30 million to $40 million for employee severance and benefits.

 

WATCH:

For more information visit tylerhayzlett.com

Categories
Body Language Human Resources Management Negotiations Sales Skills Women In Business

“Never Again Be Vulnerable To Hidden Body Language Aggression“ – Negotiation Insight

“Reading body language accurately has many advantages. Detecting hidden aggression is one of them.” -Greg Williams, The Master Negotiator & Body Language Expert.

 

“Never Again Be Vulnerable To Hidden Body Language Aggression“

 

One member of a negotiation team said to the other, that meeting became ruckus quickly. At first, I couldn’t tell if the other side’s leader was being passive-aggressive, or if he perceived our proposals to be inappropriate or repulsive. But then, I knew he was upset by the body language gestures he emitted. They pointed towards outright aggression. That’s when I knew things were about to get ugly. What body language signs did you observe that indicated he was about to become aggressive, was the question asked by the man’s associate.

When someone’s about to become aggressive, do you know what signs to note? It’s essential to be able to understand the nonverbal and body language signals that indicate imminent hostilities. Doing so will allow you the time to deflect or redirect such efforts. Continue, and you’ll discover five body language signals that foretell pending aggression.

Blustering:

“I’m going to put my foot so far up your rear that it’ll come out of your mouth.” “Yeah! And what do you think I’ll be doing while you’re trying to put your foot up my rear?” Blustering occurs in many forms. When it’s verbal, it’s easy to see and understand. Because words are used to convey one’s sentiments, which decreases the misperception of one’s intent. But blustering also occurs through one’s body language. A person portrays it by puffing out their chest, extending the outreach of their arms on both sides, and even in the stance that slightly projects one foot slightly ahead of the other. In each instance, that person is positioning himself for the pending aggression that’s he’s considering. And, depending on how heated the environment, he may not be consciously aware of the behaviors he’s committing. And that’s why you should take note. By doing so, you’ll have the opportunity to temper his behavior before it reaches the point of uncontrollability.

Eyes:

Darting – When someone is agitated, and they begin quickly scanning the environment with their eyes, they’re in assessment mode. This gesture alone does not indicate pending aggression on this person’s behalf. But coupled with other signs such as flaring nostrils, protruding chin, and fist/hand flexing, darting eyes lends more credence to the probability that pending aggression is increasingly heightening.

Narrowing – When someone’s eye focus becomes narrow, they’re lending more emphasis on the subject of their attention. That means they’re blocking out other distractions to assess what they might do next to thwart the unpleasantness they’re experiencing. When you see someone narrowing their eyes on you, raise your awareness of their pending intent. They may be in the process of becoming aggressive.

Pupil Dilation – Pupil dilation is another silent display that someone exhibits when they get excited. Dilation can occur from the natural excitement one experiences from being in a pleasant environment too. But you can instinctively tell by someone’s demeanor if they’re happy or agitated. That’s also the insight to seek to determine if they’re becoming annoyed by an adverse action they perceive stemming from you.

 

Flaring Nostrils:

Nostril flaring is one of the most telling signs indicating pending aggression. A person flares their nostrils as a way to get more oxygen into their bloodstream. And in adverse situations, that can be the preparation leading to aggression. The more the person engages in that act, the more they’re preparing to become aggressive.

 

Chin/Jaw:

An outward thrust chin is a silent signal stating that the owner of the action is displaying his desire to take a portion of your space. Conversely, when people tuck their chin, they’re demonstrating the need to protect themselves. Thus, you should perceive the outward thrust of someone’s jaw as saying, I’m not afraid of you. If they take a step(s) towards you while displaying that gesture, they’re becoming more defiant and more aggressive. You can stand your ground or back up. If you hold your position, you’ll be stating with your action that you’re not afraid of them either  – now what? In either case, be aware of where tension resides and adopt the measure that’s best suited to combat it.

 

Hand/Fist:

Flexing – If you observe someone flexing their hand in a negative environment, it may be an indication that they’re attempting to loosen up to get more blood flowing to that part of their body.

Tightening – When someone becomes excessively exasperated, they stiffen their hands, which can turn into fists. Thus, while observing the beginning of someone’s hands flexing, note the moment when their hands turn into fists. A heightening in potential aggression has occurred at that moment. And the person may be a moment or so from lashing out at you.

 

Reflection:

Like a snake, you can observe the lynchpin behavior of someone that’s in the process of striking out at you. In the snake’s case, it emits signals through its rattle, warning you of pending danger. Then, if you don’t vacate the surroundings, he strikes you. The same is true of a human. Initially, he gives warning through his body language to get you to back off. And, if you’re persistent at making him feel uneasy, he’ll strike at you.

To avoid harm’s way, note the mentioned signs that lead to aggression. As soon as you sense a verbal or physical attack is imminent, become more observant about the pace of its escalation. And remove yourself from the environment if possible. If that’s not possible, adopt a posture that’s more or less threatening than what’s confronting you. And be aware of the effect this has on your nemesis. In some cases, it will cause him to increase his efforts. In other situations, it may be the form of de-escalation needed to subdue an explosive situation that’s in the making. Know the difference to determine the best action to adopt. Because the optimum word is control – and everything will be right with the world.

 

Remember, you’re always negotiating!

 

Listen to Greg’s podcast at https://anchor.fm/themasternegotiator

 

After reading this article, what are you thinking? I’d like to know. Reach me at Greg@TheMasterNegotiator.com

 

To receive Greg’s free “Negotiation Tip of the Week” and the “Sunday Negotiation Insight” click here http://www.themasternegotiator.com/greg-williams/

 

 

#BodyLanguage #Aggression #vulnerable #Negotiate #Business #SmallBusiness #Negotiation #Negotiator #NegotiatingWithABully #Power #Perception #emotionalcontrol #relationships #BodyLanguageExpert #HowToNegotiateBetter #CSuite #TheMasterNegotiator #ControlEmotions #GregWilliams #success #negotiationexamples #Negotiationstrategies #negotiationprocess #negotiationskillstraining #negotiationtypes #negotiationpsychology #Howtowinmore #self-improvement #howtodealwithdifficultpeople #Self-development #TheMasterNegotiator #Howtocontrolanegotiation #howtobesuccessful #HowToImproveyourself

 

 

Categories
Best Practices Growth Management Personal Development

Grow Your Business Treasures

How To Grow Your Business Treasures

…Even Beyond the general Recession Proof Measures

Are you ready to face the recession and come out of it on top?

Then it’s time to assess your business treasures.

But how to grow your business treasures?

And what are they?

There are roughly three categories of ‘business treasures’ on the forefront of our mind.

So let’s dive into those first.

And then, be sure to read on for the important ‘hidden’ treasures.

Business Treasures

The first category of business treasures contains matters of finance:

  • Sales Increase
  • Revenue Growth
  • Cost Reduction
  • Profit Maximization (also be sure to watch this masterclass on The Single Most Profitable Secret In History: https://smplg.com/a/1262723/masterclass)

And when all these things are well taken care of, that could then lead to a higher order balance.

But how can you create new capital from thin air when current sales are low? How can you grow revenue, reduce costs and maximize profits when a recession is lurking? And how then can you be sure that your business finances are well-balanced and turning profits 24/7/365?

(You may already find new inspiration to begin resolving these questions in this article: https://c-suitenetwork.com/advisors/how-to-ethically-create-new-capital-from-thin-air/)

These questions need to be on top of the business mind, day in day out. But it’s not enough. They also ask for a supportive infrastructure through technologies and other assets.

With the increasing rise of new Fin Tech solutions and Automated Sales Processes among other things it thus makes sense to look at the second category.

The second category of business treasures contains matters of technology:

And when all these things are well taken care of, that could then lead to a higher percentage in conversion rates.

But many businesses are increasingly falling victim to the whims of big tech algorithms. Because when they’re implementing strategies to use these technologies, there’s an increasing list of conditions they have to comply to. And those conditions are not always in the best interest of the businesses that use Big Tech, despite they have to pay them more than just dollars and data.

How then to become independent from those Big Tech companies while still making wise use of the technologies available? And how can you secure streamlined online processes without falling victim to technology fall outs?

(For learning more about becoming Big Tech independent you should read this uttermost important blog post: https://smplg.com/a/1262723/roadmaptomoneybp)

These questions need to be on top of the business mind that wants to be recession proof. But it’s not enough. They also ask for security measures and diversifying the risks through different channels.

With the rise of Blockchain technology, new Cryptocurrencies and all kinds of newly secured software solutions among other things it thus makes sense to look at the third category.

The third category of business treasures contains matters of daily operations:

  • Invoicing and administration
  • Analytics and Metrics
  • Customer Support and Client Retention
  • Community Engagement and Corporate Social Responsibility

And when all these things are well taken care of, that could then lead to more streamlined workflows, customer loyalty, referral networking, social continuity and time and energy saving new opportunities.

But all this isn’t necessarily enough for becoming recession proof. There’s something beyond these top of mind recession proof measures for Finance, Technology and Operations.

We thus have to dig deeper for other treasures in order to understand why and how it could all work better. Let’s call those the ‘hidden’ treasures for business growth.

You’re probably already aware of them somehow, but perhaps not yet believing completely in their importance. That’s why it could pay dividends to read on.

Hidden Treasures

There are roughly three categories of ‘hidden treasures’ in the deeper parts of our mind. We hear a lot about them. But they’re not always well understood.

Those treasures are unlocked by conscious choice though. That’s why we’ll go over some of those choices here.

You could then decide to make new choices for unlocking more of your hidden treasures when wanted, needed or desired.

The first (relatively well-known) unlocking category is Coaching and Consulting.

Especially the coaching industry is booming these days. It happens in all sectors and industries, for all jobs, roles, niches and subcategories.

But not all coaches are equally good in what they do. Many just followed a short course and then call themselves a coach without real life coaching experience or a method that works.

Others come from real experience though. They have built their coaching practice on years of work and deep values. Their coaching offer exudes trust and power to unlock hidden treasures. (If, for example, you’re involved in property management then here’s a great example of how you can reach Business Growth through values-driven coaching: https://giperskine.com/values-driven-coaching)

Consulting has been around for a long time. There are many big consulting firms. And there are even more boutique or sole-proprietorship consultants out there.

Here goes too that they’re not all equally good. And many of them make mistakes without actually addressing the mistakes that the businesses they’re consulting on are making.

Fortunately it’s okay sometimes to make mistakes as long as we learn from them. You could call it failing forward, or making constructive failures.

I recently found a book that actually bares this in the title.  It’s about Consulting on the 5 biggest mistakes in business and life and how to avoid letting them shut you down.

In the book the author talks about The DONNEmethod® and it’s beginning with these Crucial Questions:

  • Why is the difference between strategic and tactical planning so significant to distinguish?
  • What can I do to make sure nothing is missed or overlooked?
  • When do I implement changes and where do I make those changes for the most impact?
  • Which sequence maximizes the contribution of all our planning and strategizing efforts?

And the one to begin with:

  • How do I avoid meddling with what’s already working and making things worse?

The author will then address solutions to problems that are implied by the above Crucial Questions. You can get the book that’s called ‘The Failure Factor’ by Justin Donne here: https://cashdrop.biz/d/75E2iJ1t0g

The second (less well-known) unlocking category is Energy Clearing and Energy Management

There’s big talk about the energy transition that we’re in. But energy is not only about oil, gas, solar or electric power. It’s also about our own personal energy management.

Personal energy often gets depleted by the technologies we’re using and by the accompanying lifestyles. Then it’s wise to be aware of that and do something about it. (That’s why >this report< could be an interesting read to learn more about why clearing your personal energy atmosphere is important.)

On a different level, it’s also important to clear out your environment for optimal work and living conditions. That asks for personal leadership to begin with. (This article might shed more light on success with your energy management from a leadership growth perspective: https://c-suitenetwork.com/advisors/6-new-steps-to-new-leadership-success/)

Energy Clearing and Energy Management thus begins within and around oneself.

You can do this by installing new habits, getting rid of bad influences, and by creating healthier life and work environments.

Which brings us to…

The third (quite well-known but not always well understood) unlocking category is Company Culture and Integrative Wellness

There’s big talk about company culture. Yet, it’s complex to create and maintain a healthy one, especially these days with the various remote, work-at-home, freelance and hybrid work modalities of employees. (This post might give you some deeper insight in how to handle this: https://www.linkedin.com/feed/update/urn:li:activity:6933064522366652416)

That’s why this asks for a form of leadership that’s immediately coupled with practical implementation. You could call this Inspirational Leadership (on which you can read more here: https://c-suitenetwork.com/advisors/inspirational-leadership-in-trying-times-of-crisis-how-to-elevate-your-company-culture/) because inspiration immediately gives energy for action.

This means that not only the top of mind measures (as mentioned above) are highlighted in the everyday business endeavors but that each and every day there’s time scheduled to receive and give inspiration to one another. This can enhance creativity, productivity and efficiency, for it invigorates the people to give their best. Which in turn could help in reducing burnouts, sick leaves or resignation because of other perceived-as-better opportunities.

What could also help in amplifying this even further is when the business goals become aligned with greater goals that actually serve all humankind. (You can read more on this here: https://www.linkedin.com/feed/update/urn:li:activity:6940706022013480960) Then the company culture becomes embedded in a wider notion of integrative wellness. And although that begins with personal well-being, it’s then also aligned with the perception of a world that’s worth again to live in, because we then more deeply understand that we’re in it together.

But it also asks for a new form of presence. And that presence is shaped these days both through personal appearance in real life as through online profiles. For this, Thought Leadership is one of the pioneering factors to grow your hidden business treasures.

To be seen as a leading edge thought leader in your industry, that indeed can go a long way.

One doesn’t just call oneself a Thought Leader though. But if you’re interested in creating and building a Thought Leader profile that’s seen and recognized by 100M+ followers combined, then be sure to >visit this page<. There you can also connect with other great Thought Leaders.

Now, to bring it all together: How to grow all of your business treasures …even beyond the general recession proof measures?

Let’s consider one last thing. It’s on an encompassing concept that not many people talk about, yet it’s becoming increasingly important to understand.

Omnibenevolence

In this article we’ve used words, concepts and ideas that transcend the top of mind business treasures that most people talk about. We also went deeper into the ‘hidden’ treasures which are perhaps not completely unknown but they’re at least not that much on the forefront of discussions about business, especially when those discussions are about how to become recession proof.

But what do you think? Do these different layers of treasures have their place in your company or organization? Or could there be more room for improvements in any area?

It can be overwhelming to think and take care of all of them. That’s why it might help to have an encompassing concept captured in one word. That word can then be explained on a one-page Mind Map that you can have readily available, as suited to your unique situation, for your specific needs.

If you want to learn more about it than visit this page: https://www.linkedin.com/company/the-omnibenevolence-council.
There you can find more information on how to get your hands on that Mind Map.

For now, thank you for reading this article.

Sincerely,

Maurits van Sambeek, MA

Founder, The Omnibenevolence Council™

Categories
Growth Health and Wellness Leadership

The Power of Consistency to Move You Forward

While many believe that knowledge is power, knowledge is only powerful when it’s consistently applied. Consistency may be the most important component of success. A small step forward each day adds up to a lot of mileage over time.

Are the little things you do each day adding up to something positive? Or have you noticed that not only is there no forward movement, but there’s been a slow and progressive slipping backwards? When it comes to healing from shattered trust and betrayal, inaction prevents progress and healing so even small steps forward add up to big results over time.

With consistent action over the next 10 or 20 years, what could you accomplish? Five workouts each week/ 5 days per week equal 1300 workouts in 1 year! Five minutes of meditation each day over the course of a few years can add up to… a lot of meditation. You get the idea.

Are your consistent behaviors helping or harming?

Use the power of consistency to enhance your success:

  1. If you re-lived today for the next 10 years, where would you end up? Saving just a small amount of money each day would save you many thousands of dollars if not more within a few years. If you overeat slightly each day, you’d eventually be many sizes larger.
  • An effective way to predict your success is to examine your average day and project the likely outcome into the future. An hour each night spent practicing the piano would give different results versus spending an extra hour watching TV.
  • Your teeth aren’t clean because you brushed them for an hour straight. They’re clean because you brushed them for 3 minutes for 3,000 days straight.
  • Consider where your daily habits and behaviors are leading you financially, emotionally, socially, spiritually, and physically. Where are your habits leading you?
  1. Realize that many changes in life come slowly. While some people advocate taking massive action to see massive results, that strategy can be difficult to apply and maintain.
  • Consider something like weight loss for example. You can’t lose 25 pounds in a day. Small changes occur to your weight each day. Those small, regular changes to your habits, beliefs and behavior about food and eating add up to impressive results.
  • Building a great company, the perfect body, or a great relationship all take time and consistency.
  1. Consistency requires habits and discipline. Use your discipline to develop useful habits. Use that discipline to get to the root of your beliefs and changing them because changing your beliefs will result in changing your habits.
  2. Learn to act in the moment. The greatest barrier to consistency is the belief that you can postpone an action to another day. Each day has the power to bring you closer to your goals. Each day lost is lost forever. You’ve probably heard that “someday” isn’t a day on the calendar.
  • The only real discipline required is the discipline to act right now.
  1. Have reasonable expectations. When your time horizon is unrealistic, it’s not easy to be consistent. When you ask too much of yourself too soon, it’s just as challenging. Be positive and enthusiastic, but be reasonable so you can experience a win versus being disappointed because you set yourself up for an unrealistic short term goal. Put your focus on regular and consistent improvement. Perfection isn’t required. I’ve also heard that we overestimate what we can do in a year and underestimate what we can do in 3 years so set an expectation factoring in those 2 ideas.
  2. Use reminders or triggers in your environment to encourage consistency. Think about the things that you do every day that could serve as reminders. Getting dressed, starting your car, and turning out the light each night are a few examples.
  • Each night you turn out the light, you could visualize your goals. After getting dressed, you could grab your gratitude journal for a few minutes of journaling and getting centered.

What you do once in a while doesn’t impact your life significantly. Rather, it’s what you do consistently. Consistency is a major predictor of success in any endeavor whether it’s in the realm of health, work, relationships and more. Develop habits and routines that guarantee success by changing them at the level of belief. Consistent behaviors determine your outcomes, so choose behaviors that drive you towards exactly what you want.

Dr. Debi
Founder and CEO, The PBT (Post Betrayal Transformation) Institute

Categories
Best Practices Biography and History Culture Entrepreneurship Industries Investing Management Marketing Mergers & Acquisition Negotiations Sales

WATCH: Abandoned by Parents, Kid Vows to Be Successful. Builds $4B Wendy’s Fortune

Dave Thomas was an orphan. Growing up, eating hamburgers in restaurants was the only thing that gave him a sense of belonging and purpose. When he was 8-years-old, he set out a plan to open the best restaurant in the world and later founded Wendy’s.

But even at an early age Dave knew that in order to grow a successful business, he was prepared to learn everything about the business from the ground up.

WATCH:

 

15 year old Dave started as a busboy at a Hobby House Restaurant in Fort Wayne, Indiana where a guy named Cornel Sanders was touring the country, trying to convince restaurant owners into converting their buildings into Kentucky Fried Chicken franchises.

Thomas’ boss, Hobby House owner Phil Clauss, was one of those restaurant owners.   Hobby House became Kentucky Fried Chicken, and Thomas became one of KFC’s first cooks.

A new waitress, Lorraine Buskirk, caught his eye and they were soon married in 1954.

Dave and his wife Lorraine grew their family to include five children – Pam, Ken, Lori, Molly and Melinda (Wendy was her nickname and who Dave named the business after). All the while, Dave worked toward his goal of owning his own restaurant.

He was pivotal in helping grow KFC. He simplified the menu and came up with the classic rotating red bucket sign. Thomas also convinced the colonel to appear in TV ads for Kentucky Fried Chicken.

Thomas’ success eventually enabled him to sell his stake in the four franchises back to the colonel, for $1.5 million. He used the money to open his first Wendy’s and became multimillionaire by the age of 35.

Today there are 6,900 restaurants worldwide.

Dave Thomas passed away in 2002 with a net worth of $4.2 billion. Dave wins.

For more information visit tylerhayzlett.com

Categories
Best Practices Biography and History Culture Entrepreneurship Industries Management Personal Development

A Poor Single Father Raising 4 Kids (Who Burned Down His Workshop) Invented LEGO

Holy S@#$ LEGO Has Sold Over 400 Billion Plastic Bricks?

Having sold over 400 billion plastic bricks worldwide (75 billion annually), LEGO is easily the most popular and best-selling toys on the planet. It also holds the title one of the most painful things you can step on in bare feet…

But few people today know just how insanely unlikely the founder was to succeed against the series of tragedies that plagued his pursuit to success.

As successful as they are today, LEGO’s history is one of unexpected misfortune. Here’s why…

WATCH:

 

The Tragic Beginning of the World’s Most Successful Toy

In 1916, Ole Kirk Christiansen was an independent carpenter who primarily built wood furniture and home goods. He purchased a workshop in Billund, Denmark, that would ultimately become the birthplace of LEGO. He immediately faced a number of setbacks and tragedies during his first years in business:

  • His workshop burned down in 1924 after his sons accidentally set fire to it (losing all the inventory)
  • He (and the world) was hit hard during the Great Depression from 1929-1939

Effectively erasing any demand for furniture and toys for an entire decade. It wouldn’t see consumer discretionary spending increase until after ww2 ended in 1945.

But Wait, There’s More…

  • His wife passed away in 1932 leaving him alone to fend for himself and his kids
  • With the economy in shambles, he was forced to lay off half of his employees.

To stay afloat, Christiansen began carving cheap wooden trinkets, eventually landing a wheeled duck that became the company’s first popular toy.

But he still wasn’t generating enough sales to pay the mounting bills he owed. Christinasen’s brothers had to bail him out to save him from bankruptcy.

 

 

 

He Had to Beg His Family For Cash to Avoid Bankruptcy

Ole’s brothers agreed to bail him out on the condition that he stop making toys and turn his skills to a more practical profession.

But Ole refused to give up his passion of making innovative toys. So he changed the name of his workshop to LEGO (derived the Danish phrase leg godt, or “play well”).

Plot twist, his shop burned down for the second time…

Still unwilling to give up on his dream of breaking into the toy market, it was in this moment where Ole said: “Fuck wood! I’m moving to plastics!”…That’s not a real quote but you know he thought it.

 

Is This Why LEGO Went From Making Wood Toys to Plastics?

Because when Ole rebuilt his factory for the 3rd time, he turned his attention to making plastic toys (which was a brand new thing at the time).

During the 40s, plastic injection molding machines were introduced into the toy market to mass produce toys. But they were hella expensive. Buying one with the lack of much if any funds, would be a major risk.

He did it anyways…

The early toys included the Ferguson tractor, a plastic vehicle available as either a finished model or a buildable set that could be taken apart and put back together, (which later became the core feature of LEGO products).

 

 

 

How Lego Was Invented. After a 39 Year Struggle!

It wasn’t long before the idea of bricks to assemble a small house in the form of building blocks was invented. They designed literal plastic bricks that clipped together.

He patented the design and they released its first set, the LEGO System of Play – in 1955. 39 years after starting his toy business.

In the beginning of LEGO’s growth, they were still selling both wood and plastic LEGO toys (even though LEGO sales were much higher by this time).

 

But Then His Factory Burned Down Again…

Then, a lightning strike to the workshop caused a fire to burn down the entire workshop for the 3rd time. He rebuilt it again but decided this time, to switch the operations entirely to plastics.

Which turned out to be a good call…

Fast forward to today, the LEGO brand as of 2021 was up 27% (that’s a whopping $8B in sales) compared to the previous two years with $55.3 billion in revenue. The company saw massive gains during the pandemic as consumers of all ages looked for new ways to entertain themselves at home.

Which is pretty impressive growth for a company that for the most part, shouldn’t still be standing.

 

WATCH:

For more information visit tylerhayzlett.com

Categories
Best Practices Biography and History Body Language Management Negotiations Skills

WATCH: Former FBI Agent Explains How to Negotiate

Take it from former spy hunter, Joe Navarro,  when it comes to winning any negotiating, everything begins with preparation.

“I think the biggest mistake is thinking that the little things don’t matter,” Navarro says. “From the moment you walk in, how you greet the staff, being attentive to others in the smallest of ways. Being polite, shaking hands, being mindful not to elevate emotions. Simple things.” It perhaps boils down to realizing that, if a negotiation is important to you, the people on the other side of the table, and their perception of you, is important too.

Joe Navarron’s 4 Tips to Negotiation Prep:

  1. Have a Specific Objective
  2. How to Choose Your Words
  3. Think of the Audience
  4. How to Anticipate Their Next Move

This video breaks down Joe Navarron’s 4 tips to prepare before your next negotiation.

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 Who The Heck is Joe Navarro?

Joe Navarro retired from the FBI after serving as an agent for 25 years. He has been studying nonverbal behavior for more than 45 years and is the author of 13 books, including “Be Exceptional: Master the 5 Traits That Set Extraordinary People Apart,” “What Every Body Is Saying: An Ex-FBI Agent’s Guide to Speed-Reading People” and “The Dictionary of Body Language: A Field Guide to Human Behavior.” Follow him on Twitter @navarrotells.

  

Navarron Spent a Lifetime Master the Art of Negotiation…

Joe Navarro moved to the US at age 8 with his family shortly after the Bay of Pigs Invasion in Cuba. He later was accepted as one of the youngest FBI agents where he spent 25 years in counterintelligence and counterterrorism.

Through his work he was able to study, refine and apply the science of nonverbal communications. His acumen in this field and his success as a spy-catcher, led Joe to begin training FBI agents and the intelligence community.

Retiring from the FBI in 2003, and meeting overwhelming demand for his notable insights into human behavior, Joe has dedicated himself to speaking and consulting with major corporations worldwide.

Today Joe is recognized as one of the world’s foremost authorities on negotiations.

For more information visit tylerhayzlett.com

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Recent Video Explains Why Sri Lanka Just Declared Bankruptcy…

Sri Lanka Just Announced They Are Bankrupt. And Out of Fuel…

A country thriving and wealthy in 2012 just announced they are bankrupt in 2022.

Before it’s recent bankruptcy Sri Lanka  had a thriving economy. In fact its economy grew at an accelerated rate, ranked above Singapore, Ireland, and South Korea.

Located in the center of the world’s most important shipping location, the country was set up to be a world economic import superpower. But a crisis hit…

On Tuesday, the country’s president, Ranil Wickremesinghe, told the Sri Lankan parliament that the country is not only bankrupt and that it also has no fuel left. Government employees have been told to stay home due to fuel unavailability.

Inflation spiked 54.6% in a year and is expected to hit 60% soon, and transportation costs have gone up 128% in only one month, according to Bloomberg.

At the G7 Summit last month, the US pledged $20 million to assist Sri Lankans in the fight for food security. This came in addition to a previously donated amount of $12 million.

But despite global assistance, the nightmare is far from over for Sri Lanka. Premier Wickremesinghe said that the country was participating in negotiations as a bankrupt state, and the worse is yet to come…

“Due to the state of bankruptcy our country is in, we have to submit a plan on our debt sustainability to (the IMF) separately. Only when they are satisfied with that plan can we reach an agreement at the staff level. This is not a straightforward process,” he said, and CNN reported.

A recent video explains the full story.

 

WATCH:

For more information visit tylerhayzlett.com

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Ads of the Past That Would Be Totally Illegal Today…

The early days of mass advertising truly was a different era, to the point it’s crazy they even got away with some of these ads.

These vintage commercials were commonplace at the time they were produced but would be considered wildly offensive today.

Besides being discriminating, most of these ads were blatant lies. Whether we like it or not, it is a piece of history worth seeing for everyone.

The good news is that now that enough times has past, we can look back at some of these ads to appreciate just how ridiculous they were.

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For more information visit tylerhayzlett.com

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