Still, I loved this video because it was easy to understand for someone who isn’t much of a historian or, for sure, an economist. His explanation of what lies behind successes and failures of nations seems to line up well with what is happening in the U.S. for sure.
These screenshots from the video give you an idea of what you’ll find should you watch it. So good.
Dalio alludes to economic principles that we can apply to help our nation slow its decline as a world power and possibly even reserve it. He goes into these principles much more in his book, but the two he mentions in the video are quite simple:
Don’t spend more than you make.
Treat people well.
Ridiculously simple, but do we do them? We have had national debt since the start of the U.S. as a nation. However, in recent years our debt has wildly ballooned out of control. Also the whole “treating people well”? The last time we were able to pull together as a nation was probably the attacks of 9/11…over 20 years ago. The division in our country is so deep, it is hard to imagine our being able to come back together. It could happen…and I will keep hoping that’s the case.Photo Credit: Ray Dalio, YouTube
On the graphic above, we see the steady decline of the US and the sharp rise of China. Is this the future? Or are other factors also at play? I think there might be…one in particular, the God of this universe. However, He may choose not to save the US from its own self-induced decline. Only time will tell.
[Postscript: There is a word of wisdom here: don’t spend more than we earn and treat others well. Sound counsel all around.]
Two workplace scenarios. The first is when either the manager or the team is super excited about a goal, and action items are determined and given to just the right team member and calendared for quick turnaround. Photo Credit: JSC
The second scenario is when either the manager or the team is super excited about a goal, then one or the other digs in their heels. The meeting ends with no clear shared responsibilities, no movement forward, no hope of change.Photo Credit: GangplankHQ, Flickr
Sigh…all the most excellent strategic planning can take place inside a conference room…and without execution. Essentially, nothing happened there.
I’ve had both kinds of team experiences and want to focus on the former one above. Talk about high employee morale when a group of colleagues operate as a finely tuned machine and the yield is high-quality productivity.
When you go to the website, you actually are able to immediately grow in your understanding of how to influence execution in your company. The video below is an incredible teaching tool – 17 minutes of powerful content on execution:
In brief, their 4 disciplines of execution are:
Focus on the wildly important goals (WIGs). The day-to-day operations always stand against those game-changer goals. Determine to be unyielding on the highest-priority goals (1-3 maximum).
Act on the Lead Measure. [New terminology for me.] The lag measure is the goal itself. The lead measure is what you can influence to accomplish the lag measure. Lead measures are the leverage used to get to the lag measure (goal). Lead measures are “predictive and influenceable“.
Create a compelling scoreboard. I appreciate the wisdom of this (Chris McChesney describes it so well in video above). The scoreboard is not for the manager. It’s all about the players at this juncture, and it should feel like a game. [Actually an element of fun and energy incorporated. What a concept!] The scoreboard would be simple, highly visible and the players (employees) should be able to tell right away from the scoreboard whether they are winning or losing toward meeting the goal.
Create a cadence of accountability. Everybody is going to love this! 20-minute meetings are calendared every week, at the same time. All the people in the room have “skin in the game”. This meeting is sharply focused on 3 things (related to the lead measures only): each person reports on the week before; reviews/updates the scoreboard; makes commitments for coming week. That’s it! How streamlined and forward-moving, is that?!
Many years ago, I was on a work team that was given the responsibility and liberty to determine what else was needed in the formation of a comprehensive cancer center. We had many places already in place – excellent medical and nursing care, an engaged community, and a charitable foundation to provide extra resources for taking us to a state-of-the-art cancer center.
3 nurses – Kay, Kathy, and I – had the question to answer of “Why Else?” What else did we need? We worked together on the planning and execution of comprehensive support services and education. Each of us brought our own giftings – I had vision and ideas, Kay was an influential nurse manager, and Kathy was detail-oriented and had a gift for taking a project to completion. Some of the services that came out of those problem-solving sessions are still embedded deeply into the DNA of that cancer center today.
Start at 6:17 minutes in (if you don’t want story and context), and you will hear his wisdom about the importance of radical truthfulness and radical transparency.
“One of the greatest tragedies of mankind: People arrogantly, naively holding opinions in their minds that are wrong…and acting on them, and not putting them out there to stress-test them, and that’s a tragedy.” – Ray Dalio
“Collective decision-making is so much better than individual decision-making if it’s done well.” – Ray Dalio
Kathy, Kay, and I had that sort of team relationship – radical truthfulness and radical transparency.
Whether you are part of a team, or an independent entrepreneur, there are excellent principles here.
If you want to take an honest and critical look at your team or company’s success in operation, you have great helps here – in the FranklinCovey’s counsel, in Ray Dalio’s discoveries and in the philosophies of business leaders like Steve Jobs. I’d also like to add anything on teaming by Patrick Lencioni.
I would love to hear how you get to execution…because until you do, it’s just meetings upon meetings.
Please add in Comments below any other resources that have proved helpful to you in getting to effective execution with the added impact of high morale in getting to goal.
YouTube Video – 4 Disciplines of Execution – Gwinnett Medical Center – This was personally very satisfying and encouraging for me. My dad was a patient at this medical center during the time when there were banners flying everywhere about it being one of the top medical centers in the country. At the same time, we family members stayed with him around the clock, because nurses did not come when we called, nor were other services offered with any communication that my dad or we mattered to staff. To see that they also came to recognize this was a problem and took effective steps to correct it was exciting.
Photo Credit: Ray Dalio, YouTube
Photo Credit: Ray Dalio, YouTube
Photo Credit: Ray Dalio, YouTube
Photo Credit: Ray Dalio, YouTube
