Archives For October 2012

Demetri Martin SUCCESSWhat Standup Comedians Understand About Success That You and I Don’t

Demetri Martin, the 39-year old standup comedian and alumnus of The Daily Show, published the sketch above in his book, This Is a Book. It’s been making the meme rounds on Twitter for a few months now, finding a welcoming audience among the business illuminati. They are glad to have a champion who can convey the wisdom (with such brevity and clarity) that the path to success is a tangled and circuitous mess, not the simple story that we so often hear of ascension in a straight line.

With these few scribbles, Martin betrays an insight into the nature of success that seems to be best understood – strangely enough – by standup comedians. As we’ll explore below, they must all hone their craft through constant tinkering in the control setting of comedy clubs. The best of them never quit this testing mindset. They allow themselves plenty of little failures. They don’t wrap themselves in the success label, considering it something to strive for continuously rather than a status to defend.

In other words, they don’t get caught up in “being a success.” We’ll call that the success mindset. They keep experimenting, keep pressing the envelope, and keep finding new ways to make their customers laugh.

There is something here to be learned by entrepreneurs and business leaders.

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lucyThe Case for Conscious Capitalism

Next week Austin will play host to a group of executives that label themselves “conscious capitalists.” [See consciouscapitalism.org.] John Mackey, founder and CEO of Whole Foods, will provide the keynote address and suitably so. In 2007 he loaned his influential voice to this movement by penning the missive “Conscious Capitalism: Creating a New Paradigm for Business.”

It’s worth the read, and you can download it here. [pdf] The gist is this:

There is a longstanding prejudice that businesses exist for the enrichment of shareholders. While this is technically true, the notion has been interpreted to mean that corporate managers have the fiduciary responsibility to grab profits whenever they are available for the taking, all other constituencies be damned. It is the investor dominated viewpoint, often ignores the other stakeholders in a business, and it can be obscenely myopic. (See my related article, Whom Does Management Serve?)

It also creates, Mackey argues, a zero-sum game that pits investors against managers, employees, customers, vendors and all other stakeholders. By spending more on employee pay and benefits than absolutely necessary, for example, you’re taking earnings off the table that are the rightful property of investors. If employees win, investors lose.

The Conscious Capitalist movement argues for a different framework for understanding the game of business. Rather than a zero-sum dynamic, it suggests viewing it as a system of interconnected parts. By investing more in employee benefits, Mackey says, you get happier employees who better serve the customer…who then buys more products…which leads to higher profits…which can be shared with investors. Treat all stakeholders in a fair manner and the whole system is hoisted ever higher in a virtuous cycle. The sum of the parts, working in unison, become much more valuable than the individual components.

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