Friends of Dave #42: All You Need is...Accountability
"When you combine talent with accountability and authenticity, it is tough to beat." -- David Ross, catcher for World Series Champion Chicago CubsOver the course of my career, I've developed a theory about three critical characteristics that all organizations must exhibit in order to succeed: a sense of urgency, effective communication, and commitment to a culture of accountability. No one of these is more important than the other, and I challenge you to find any organization that has had sustainable success without all of these. Generally, if a firm (even yours) is not achieving their results, it is likely that you will find a breakdown in at least one of these three areas. For the purposes of this intro, I'm going to focus solely on accountability, as I found the topic coming up in a number of conversations and situations for me this week. Accountability requires zero talent. You do not need any special skill or training to be accountable -- you simply need to do what you say you are going to do when you say you are going to do it, and then ultimately own the results. Accountability also happens to be the foundation for leadership. No accountability at the top equals weak or non existing leadership throughout an organization.Here's another interesting side effect of accountability: it requires you to be vulnerable and put ego aside, as you have to accept the risk that, no matter how hard you try, your actions may not go as you want them to go. That means you have to be open to failure, mistakes or being wrong and take responsibility to correct it if needed. So when you think about it, organizations or people that lack or resist accountability are really exhibiting behavior that says they are either unwilling to take action, or are afraid of what will happen if they own the results of the actions they take.Look around, Friends of Dave. There's an abundance of finger pointing, empty mea culpas, and disregard for the words we use on social media. Whether it is in our companies, our elected officials or amongst our friend groups, there is way too little accountability in our lives these days. And as I said before, without a commitment to accountability we will not be successful in any endeavor we wish to pursue in the long term.So what is the answer? It has to start with each of us. We lead by example with our words and our actions. We exhibit courage and show it is okay to be vulnerable even if things do not go as we planned. And we demand that others are accountable as well. I see no other choice if we truly want to be successful and achieve greatness.On a completely separate note, last Saturday my wife and I saw the new Blade Runner movie. Even if you are not into sci-fi or a fan of the original, I highly recommend. Well written and the cinematography was stunning. And if you do go see it, re-read my thoughts from last week on authenticity before you go. Good companion.Hope you enjoy the selections below. Be sure to send me any good stuff you read (or author yourself) each week if you can. I'll be sure to give you a shout out if I include it in an upcoming newsletter. Have a great weekend!XOXODave
Think on This...
Bias from Incentives and Reinforcement — www.farnamstreetblog.com
Great piece on how incentives and reinforcement shape people's actions and how to use these tools effectively with others.
For Your Day Job...
Silicon Valley’s Next Target: Disruption of Socks — www.bloomberg.com
Stance makes the go-to hosiery for skateboarders, motocrossers, and Rihanna, and has raised more than $100 million in funding. Look around and you'll see it -- socks are a big business, for real.
Predicting Mobile Order-Ahead's Future — www.pymnts.com
Interesting look at mobile ordering today, its track over the last 12 years and where it's headed. It will leave you thinking about how this applies to your business as well.
Forecasting The Death of the Mall, One J.C. Penney at a Time — www.bloomberg.com
Really cool use of data and analytics: System2 is scrutinizing every single retailer tied to mortgages in their securities, and figuring out how each company’s fortunes tie into the health of a mall or mall-backed bonds. Will make you think about ways to find alternative data that can help your business be more efficient.
Your Weekly Dose of Randomness...
37 Quotes From Corporate Execs Who Got It Wrong When Disruption Hit — www.cbinsights.com
"Really, who's ever going to think sliced bread is so great?" -- CEO of the Loave Boat, a leading bread company from the early 20th Century.
History's Best Strategies for Avoiding Being Buried Alive — www.atlasobscura.com
SPOILER ALERT: loudly proclaiming "I feel happy!" is surprisingly not included in this article.