Understand the Economy for yourself. Don’t be over-reliant on the good opinion of other people. Many individuals are unaware of the free resources that are available to track economic trends. One of the best tools comes from the Federal Reserve at http://www.federalreserve.gov/releases/g17/ipdisk/alltables.txt

The page shows the industrial production by industry for both seasonal and non-adjusted data. In essence, if you want to track a particular industry, there is no need to wait to read the information in a newspaper or a blog. Get the information for yourself and make your own interpretation. For example, the ship and boat building industry data (not seasonally adjusted) is presented as of July 2010 from the link previously referred to. Each of the columns represents monthly data. The data is also listed as IPS – Industrial Production Seasonally Adjusted or IPN - Industrial Production Not Seasonally Adjusted. The following information then is not seasonally adjusted. (Note: The series in the data is: Series ID, Year, Jan - Dec)

G3366: Ship and boat building boat building NAICS= 3366
IPN.G3366 1998 77.7154 76.4769 77.4417 73.0003 78.4545 77.2793 79.2277 79.9203 77.7161 83.1318 83.3754 85.0114
IPN.G3366 1999 81.2649 83.0248 84.2262 79.4988 80.0477 80.2212 79.1561 87.1829 86.567 86.5657 87.876 91.0407
IPN.G3366 2000 87.5872 90.1602 90.6017 89.0554 86.1863 87.6935 86.631 84.7939 79.8662 82.7261 86.2213 85.5277
IPN.G3366 2001 84.4292 80.6533 85.8832 81.4089 83.0756 82.7078 81.6635 78.0686 80.8324 82.0314 85.0271 86.2545
IPN.G3366 2002 86.5545 84.4315 91.5064 90.9403 93.6875 95.4739 83.8494 89.2274 95.6293 94.3411 91.5129 94.8692
IPN.G3366 2003 91.3116 90.6367 96.6679 92.4623 93.9838 95.8826 84.7913 91.7654 96.7991 95.0387 94.4247 92.2472
IPN.G3366 2004 92.0228 94.1356 104.9366 99.0401 98.7157 96.7238 86.1078 91.8224 96.2436 94.6853 90.7968 91.0349
IPN.G3366 2005 91.8575 96.3021 106.8692 103.1725 100.7357 99.1634 84.572 90.6338 84.0774 91.4369 90.2713 95.5123
IPN.G3366 2006 95.6029 93.4566 104.0523 95.1993 96.4354 100.6408 85.1382 87.9755 94.6969 92.6844 89.7758 95.5011
IPN.G3366 2007 97.0109 92.9683 96.9511 97.1001 101.4735 107.5809 92.3686 96.3188 105.7243 103.0968 102.5471 106.8595
IPN.G3366 2008 108.5889 107.712 112.3035 110.8724 105.2275 112.7792 97.1203 100.4989 97.2664 98.9122 92.4011 91.1939
IPN.G3366 2009 84.9463 78.9674 82.4338 77.0116 83.7825 90.1609 87.2618 90.0689 85.3314 77.3386 77.2099 78.595
IPN.G3366 2010 83.0853 83.7035 90.8107 90.9836 93.3699 92.5587 82.0928

If we were to graph out the data, our chart would look like the following:
Ship and Boat Building Industrial Production July 2010



It is easy to spot trends in the ship and boat building industry. Unfortunately, there does not appear to be a significantly favorable trend and this industry will continue to experience difficult times. This observation also seems to parallel the other general economic evidence that the economy is not turning around.

This same analysis can be prepared for any industry and should be a regular component of an organization’s competitive intelligence gathering.

© 2010 – Jim Lindell

Total nonfarm employment decreased by 131,000 in July. U-3 unemployment remained at 9.5% and U-6 is at 16.5%. The U.S. Bureau of Labor Statistics reported today. Federal government employment fell, as 143,000 temporary workers hired for the decennial census completed their work. Private-sector payroll employment edged up by 71,000.
Note that more individuals that are long term unemployed are dropping off of the charts. (Source for image and stats: the U.S. Bureau of Labor Statistics)

If you visit shadowstats.com, John Williams shows the overall unemployment just shy of 22%. Our country and infrastructure need real jobs, that produce real products, that create real value. Without the jobs, we are in a tenuous position. Lifestyles will continue to be negatively impacted as well as our future success.

Copyright 2010 - Jim Lindell

If you are tired with the standard SWOT (Strengths, Weaknesses, Opportunities & Threats) analysis, try the Start – Stop – Continue process.

This is a simple process geared toward your intuitive and daily management practices. This can be used in strategic planning or analyzing a particular situation.

The first thing to consider is: what should your company “start” doing? This could be items such as: increase marketing, identify new cost controls, seek out acquisitions, etc.

The second step is to identify current processes, methodologies that should be discontinued or “stopped.” Examples of this could be: stop certain client relationships, stop providing certain benefits, stop overmanaging, etc.

The final step is to identify processes that are good for your organization and should be “continued.” Examples are, client newsletters, regularly walking around the organization and meeting with employees, honest and open sharing of information.

Realize that “starts, stops and continues” can be completely different on a company to company basis. However, management teams will typically identify consistent themes for their individual company.

© 2010 – Jim Lindell

Consider the following excerpt from the 5/10/2010 WSJ

Post-Grad Assignment: Find Work
By MARISA TAYLOR
In a survey conducted between February and April of 31,470 students from over 400 colleges and universities by the National Association of Colleges and Employers, just 25% of students who had applied for a job before graduation had secured one, with a median starting salary of $41,000. Still, that's an improvement over 2009, when only 19.7% had found jobs by the same time.

This is an excellent time to bring on young talent to help with special projects such as marketing or new sales efforts. The graduates need to obtain employment and will probably be open to a variety of employment options. If your organization is not up to date on social media applications, consider using a recent graduate to get your organization into this rapidly changing area. Remember back in '95 few people understood the impact of the internet. We are in the same position understanding and utilizing social media tools.

(c) 2010 - Jim Lindell

Small Business Optimism Declines in March
(Source: http://www.nfib.com/tabid/732/Default.aspx?cmsid=51254)
Uncertainty and low sales are keeping small businesses on the sidelines

Contact: Melissa Sharp 202-314-2068

WASHINGTON, April 13, 2010 – The National Federation of Independent Business Index of Small Business Optimism lost 1.2 points in March, falling to 86.8. The persistence of index readings below 90 is unprecedented in survey history.

“The March reading is very low and headed in the wrong direction,” said Bill Dunkelberg, NFIB chief economist. “Something isn’t sitting well with small business owners. Poor sales and uncertainty continue to overwhelm any other good news about the economy.”

The index has posted 18 consecutive monthly readings below 90. In March, nine of the 10 Index components fell or were unchanged from February’s not-so-great readings.

We are not out of the woods by a long shot. Claims of recovery are similar to a heavy weight boxer that has been hit and is staggering. It appears that he is staying up but will soon be on the canvas!

(c)2010 - Jim Lindell

The making of a great leader is the successful combination of many skills. The illustration depicts two main characteristics: people skills and technical skills. When a leader has neither, they are a complete failure (as a leader). Too many times people are placed in positions where they are destined to fail. It is obvious where they are lacking to everyone but those responsible for the placement, promotion or appointment. With serious mentoring/training/coaching and a willingness to learn it is possible for them to become a successful leader.

When leaders lean too much to either people or technical skills, a couple of things might happen. Too much people emphasis can lead to a feel good culture without accountability. Too much technical emphasis can lead to a sterile environment that lacks any caring or compassion.

Ultimately, the great leader is a balance of people and technical skills. The great leader is comfortable using both areas to move an organization towards its goals. What sets the great leader apart from the merely adequate leader is the gift of conviction. Conviction is the unshakable belief without need for proof or evidence. In many ways it is similar to the rudder that steers a ship. Without conviction, an organization is rudderless. Great Leaders provide the following:

• Conviction
• Vision
• Belief
• Passion

These qualities will inspire other members of the organization to action. Any company that desires to be successful must have the balance in leadership (people / technical) and the qualities above. An individual that aspires to be a great leader must incorporate all of the above.

© 2010 – Thorsten Consulting Group, Inc.

Our culture has seen a significant increase in the use of coaches. In addition, there has been a significant increase in the different types of coaches. When people use the term coach, we typically think of a sports coach. This entry will discuss the essential characteristics that are necessary for the coach and the “coachee” to achieve the desired goals.

Many people would like to be a coach. Everyone thinks they have the skills to be a coach. Unfortunately many individuals that find themselves in the coaching role or desire to be a coach will never be successful in that role. There are four key areas that a successful coach must have:

• Knowledge
• Experience
• Ability to inspire
• Ability to teach

When it comes to coaching knowledge, there are two types of knowledge that can be addressed: 1) learned or book knowledge, 2) practical knowledge (which is typically gained through experience.) To adequately coach another individual, practical knowledge is more essential. The coach must be versed with techniques and formal knowledge which typically comes from the educational/learning environment. If a coach only possesses learned knowledge, he may be accused of the ivory tower syndrome.

A coach that does not have the experience will have difficulty providing the key wisdom and counsel along with the practical application to the student. Do you remember the Charlie Brown cartoon where Charlie Brown is teaching someone how to stand on their head? Linus comes up to Charlie brown and questions him saying, “Charlie Brown, how can you teach someone to stand on their head when you can’t do it yourself?” Charlie Brown replies, “Those who can’t do, teach.” Now I realize that this is an offensive statement, but in all forms of humor there's some underlying truth. A coach without the experience will not be as successful. It is important to note that some successful coaches can replace other types of experience for the task that they are coaching and be just as successful. This is one of the reasons that major corporations will hire a CEO from outside of their specific industry.

The ability to inspire other individuals is essential. A coach that cannot inspire other people to action is at a severe disadvantage. About the only individual that will work well with this type of coach is the person that is 100% self motivated. The vast majority of people do not have the skill set to continually motivate themselves all the time.

A coach must have the skill to transfer their knowledge and their experience to the person that they are coaching. In essence they must be an outstanding teacher. If a coach cannot teach, they will fail miserably. This ability to teach others also means the ability to understand that each individual has different learning styles. A one dimensional coach that continually uses the same approach will eventually fail.

As we consider these four attributes, all of them are essential for the coach to be successful. However the last two characteristics: inspiration and teaching ability are an absolute necessity. The next characteristic is experience. The last item is knowledge. Remember that practical knowledge is more important than formal knowledge. One caveat needs to be mentioned. There are certain professions like Physicians, Attorneys, or Tax CPAs, where the formal knowledge is an absolute necessity. Otherwise most non technical positions can be coached with experience or practical knowledge.

Now we will consider the person that is to be coached. There are also a set of characteristics that are essential for this individual to be successful. The four characteristics are:

• Desire
• Practice
• Ability
• Coachability

Any student that does not have the desire to accomplish the goal will most likely fail. Each student must understand that the accomplishment of a goal begins with one thing and one thing only - their decision to make a change. Without desire, a goal just remains a dream.

The next characteristic is practice. Whether it is a student doing their homework, an athlete preparing for a game or a match, or an executive preparing for a board meeting or a negotiation process, practice is a must. It is important to note that each person chooses to practice in a variety of ways dependent on their individual style. It is rare that a person can achieve a specific goal without spending the time practicing.

The student must have the ability to accomplish the goal. This is not to put a limit on the individual. However there are times when individuals are placed in positions that the only logical outcome is failure. They fail because the task or the goal is so far beyond their ability. Therefore it is essential for the student and the coach to recognize the ability as well as the untapped ability to make sure that any goal selected is within the reach of the individual.

The last characteristic is the student’s coachability. If the student is not willing to listen to other individuals, to take advice from other individuals, to listen to criticism from other individuals, he will have a difficult time being successful. Anyone who invests time coaching other people knows the pleasure of a student or an athlete that is coachable. It is very typical that when the coach describes this individual to other people he will state that the student, the athlete or the executive is wonderful because they are coachable.

If you would like to make a self assessment of your coaching skills or your ability to be coached, take the four key characteristics under either section, and rate yourself on a scale of 1 to 10. 10 would indicate excellence in the particular characteristic; a 1 would indicate very bad performance. Also imagine how another individual of your choice would rate you on the same characteristics. Many times when we put ourselves in the shoes of someone else and envision their rating of us, we will see a natural difference. Sometimes it's more important to understand what we believe are the perceptions of others as opposed to our own self assessment. For any item that you wish to improve upon, I recommend that you take the following three steps:

1) list one thing that you will do to improve this area over the next 30 days,
2) list one thing that you will do to improve this area over the next 60 days,
3) and finally list one thing that you will do to improve this area over the next 90 days.

As a result your coaching skills or your ability to be coached should improve in the very near future.

© 2010 - Jim Lindell