CEO Blog - Time Leadership

Seeing What's Next

2009-07-01T08:48:00.003-04:00

I am back in reading mode and am many blog entries behind on my book reviews. I love reading (thanks mom) and am inspired by good business books. They help me to grow. As I face business challenges, I often find a book gives me the needed ideas to shake me lose.

I read an awesome book by one of the leading thinkers of our time - Clay Christensen called "Seeing What's Next - Using the Theories of Innovation to Predict Industry Change".

Christensen is great. He come up with the theory of disruptive innovation in his previous book - Innovators Dilemma.

From Don Mitchell's review on Amazon (note the time management technique - why re-invent the wheel):

In Seeing What's Next, the authors take on the challenge of helping executives and managers consider the likelihood of disruptive technology changes occurring and how they should evaluate their potential responses in light of current information.

The analysis looks at both the perspective of the companies that will be disrupted and displaced as well as those who are leading the disruptions. The book is a remarkable combination of theory, process suggestions and detailed case histories to explain the suggested process. As a result, this book will be the most practical guide available for technology executives until Professor Christensen brings out the next installment of his thinking in a future book.

In Part I, the authors use existing theories about disruptive innovations to suggest which signals to pay attention to as suggesting that opportunities exist, how to determine if competitors will be a factor in disruption, choosing an appropriate response and considering how government and other nonmarket influences can affect the result.

In Part II, the process of applying the Part I theories are exemplified in higher education, commercial aviation, semiconductor customer benefits, health care productivity, non-U.S.-based innovations and strategies, and the telecommunications industry.

Back to me.

I found the book to be insightful and practical. That said, there was an academic complexity to it that makes the application somewhat more difficult. I think is is partly because Christensen is such high intellect and partly because he is a university professor.

My sense, for me, is I often rely on intuition or gut feel on trends. The book might be able to help me put more substance to these. And the book is also great for causing me not to just look at what I "want" to happen but what might really happen.

Good book - read it.

And publicity on me:

I published an article on how to use turbulence to galvanize rather than paralyse at CMA Blog. The gist of the message is we choose to let circumstance drive us harder or scare us into not acting. The choice is ours.

I made "100 Awesome Business Blogs for your Education". Not sure how much traffic that site gets but...

Inside the Mind of the Turtles

2009-06-28T10:42:00.002-04:00

"Behold the turtle. He makes progress only when he sticks his neck out." - James Bryant Conant

I usually do not read books about the stock market/trading etc. but I figure a change never hurts. It is apt that I would read it since I am staying in the Hamptons this weekend courtesy of my Oppenheimer broker - Kyle Wool (thanks Kyle)

Inside the Minds of the Turtles by Curtis Faith is a book about risk, markets and trading. The Turtles are a group of traders who studied under Rich Dennis in the mid eighties. They were rampantly successful.

The book emphasizes the need for risk taking (and as an entrepreneur, I always do take calculated risks). It also emphasized the need to moderate those risks. I have always said "fail often, fail fast, fail cheap". Turtles focuses mostly on the fail often and fail cheap. And not to let fear paralyse.

Faith says "Fear is a mind killer", "Fear can paralyse" and "adapt or die - survival of the fittest is not survival of the strongest but survival of the most adaptable". So true.

In reading, I was worried the "systems" practised got results only through luck. Or perhaps I missed the logic underlying the decision. Perhaps I do not believe in trading systems and believe more in fundamentals.

Not sure I will take any action as a result of reading but it was an interesting and fun read. Almost like a good fiction book. He shared stories of skydiving, sailing accidents and adventures. Good book for a diversion.

The Second 30 Day Plan - The 5 Why's

2009-06-26T11:53:00.004-04:00

I am officially done 4 weeks as Nu Horizons President and CEO today.

I had a 90 day plan when I started. The first 30 days were "Listen and Learn". I found it very hard to sit back and not take action (and I admit, I did take action on a few things). The plan was to learn. The industry, although similar to my previous experience, was different. And even if the industry was identical, there would be clear cultural differences between any two companies that I needed to learn.

So what is the second 30 day plan? The 5 Why's. We need to drill into why we do everything. The 5 Why's program is a formal method at solving problems and determining is the "old" way is still the right way.

I modify the 5 Why program by asking the "how question" at the end. I find that asking why too often can entrench rather than open up thinking. Ask How and people will come up with the answer.

When I ask the How question, I often like to ask for a big change as that creates different thinking. If we ask how can ship 5% more shipments per hour, the answer will come back, we will work a bit harder and more diligently and speed up the line a bit. If we ask, how can we ship double, it forces us to completely change our thinking and be more creative.

And of course, even though we move into the second 30 days, I still plan to listen and learn a lot still. For example, I only know 75 of my 750 staff by name (I counted on an org chart). So lots more to do.

Notice that my 30 day plans are actually 4 weeks so I manage to get them done in 28 days. Another trick or perhaps I only fool myself.

Keeping the Millennials

2009-06-24T01:07:00.002-04:00

I read a great book by Dr. Joanne Sujansky and Dr Jan Ferri-Reed called "Keeping the Millennials - Why Companies are Losing Billions in Turnover to the Generation and What to do about it"

My knee jerk reaction when I first got the book was to reject it. I thought "in this economy (even though I do see it improving), who would need to worry about recruiting and keeping staff." I thought "poor timing to release a book like this". I also tend to dislike books the categorize people and say all millennials do this or that. I know I am not typical of any group and I think most people are also unique.

But then I got into the book.

I agree that turnover is very expensive for companies. This is often an under rated expense.

I am also a believer that the key to running a successful business is getting people fully engaged so understanding what creates engagement in a generation (and no they are not all the same) is important.

I also see that the current turbulence will actually create a situation where some people will work later in their life so we will now have 4 generations that need to work smoothly together.

And I am energized to think of using the unique characteristics that each generation can offer to build a great company. This diversity will be health if properly harnessed.

Millennials (or generation Y) are an interesting generation (born 1980 to 1999). They suffer from overprotective parents and having things too easy (read The Millionaire Next Door for a prospective on that). They are highly techno savvy. They will embrace multiple jobs and careers in their lifetime. They seek balance in life. They want fast advancement.

I liked the section that compared the Boomers (that would be me) to the Millennials. Even though I reject being categorized, I certainly saw myself with many Boomer qualities. Boomer focus on work ethic and Millennials focus on getting the job done - perhaps I can learn something. Work less, accomplish more. After all, effectiveness is really the goal.

I really liked the section on how to onboard millennials and how they learn. These were good concrete ideas that are actionable.

And of course I liked the view on how Millennials use and interact with technology and the Internet.

Good book. Interesting and well written.

And for those following the home saga - I have a kitchen (just no stove but a microwave and ovens work just fine). So I consider myself officially moved in. That brings me peace.

Be content or should you be? Lao Tzu

2009-06-19T17:56:00.003-04:00

"Be content with what you have; rejoice in the way things are. When you realize nothing's lacking, the whole world belongs to you" ~ Lao Tzu

Unfortunately I tend towards the discontented (not to be confused with malcontent). At one point in my life I thought "Why am I never happy with what is". After a few weeks, I realized this discontent is a source of power and success for me so I no longer fight it. It helps drive me.

And at some level, the modest success I have does cause me to be content. I lead a charmed life and I know it.

Week 3 at Nu Horizons draws to a close. It feels like longer. I do not yet feel settled in my now home. Perhaps having a kitchen would help. I am weighing my contribution. I need to add value in all that I do.

How the Mighty Fall Book Review

2009-06-14T14:29:00.007-04:00

I am at the end of week 2 as President and CEO of Nu Horizons Electronics. This puts me at halfway through my first month which I called the "Listen and Learn stage". (Of course that does not mean that I will know it all at the end of the month or that I will stop learning).

I have learned a lot. I do notice that I have a propensity to take action though and find it hard to "hold back" and just listen. I particularly have difficulty when I have an idea that I think can truly add value (my quest is always to add value). But what I need to consider is do I really know the real situation and is my idea really a good one?

I have a high propensity to action and a very high sense of urgency. I think that is one characteristics that helps companies and people succeed.

I have long believed in tracking how I use my time. I do not do it all the time but I do it enough that I know how I spend it.

I read about business author Jim Collins and I feel like I am an amateur. See how he tracks his time in this NY Times article. Also notice though that he not only tracks his time, he knows how he wants to spend it. I think that is the key.

Jim Collin's latest book "How the Mighty fall and Why Some Companies Never Give In" differs from his earlier ones (Good to Great and Built to Last) in that it mostly focuses on companies that fail. I suspect Collins had quite a bit of egg on his face from his previous books where he chose winner and made conclusions why they were great and then many of them went on to fail. So now writing about companies that fail; he cannot be wrong.

I like the title - it suggests persistence pays. Good message in turbulent times.

I like learning from failures. True wisdom is being able to learn from the mistakes of others. Not sure I am truly wise yet as often I need to fail myself in order to learn. And sometimes I am even a slow learner at that and need to fail more than once to get it.

How the Mighty Fall is well researched (as all of Collins books are), well written and thought provoking with actionable ideas.

From an Amazon review of the 5 stages of failure in How the Mighty Fall by Mark MacDonald:

Stage 1: Hubris born of success - describing the cultural tipping point when hard work and focus to earn the business turns into a sense of entitlement to future success.

Stage 2: Undisciplined pursuit of more - building from stage one is people chasing goals that take them away from their core, their competitive advantage all in the name of growth, or the grand strategy. This leads to thinking what before you think about who and abandoning the hedgehog concept in favor the rabbit's pursuit of quick gains.

Stage 3: Denial of risk and peril - now that you are chasing things that are not part of your core, you fail to see the problems or blame the problems on the outside world. In this stage you are blind to the brutal facts.

Stage 4: Grasping for salvation - often in the form of the silver bullet, visionary leader all of which keep your attention away from the core (Flywheel) and lead you into further decline. I lose a culture of discipline, abandoning the flywheel and chase things outside the core.

Stage 5: Capitulation to irrelevance or death - the final demise when people throw in the towel and the cause is lost. This is the terminus of the lifecycle and the one place you cannot recover from.

Good book. Worth reading.

CEO Leadership quotes and random thoughts

2009-06-08T07:52:00.003-04:00

My first week at Nu Horizons is done. Great week. Busy (as expected). Met a lot of people. Just starting to scratch the surface. Feeling my knowledge of the business is just beginning.

The first 30 days of my 90 day plan is "Listen and Learn" which I am doing. But a part of me understands that urgency is critical to business success. I am itching to start contributing. For me, it takes discipline to sit back and listen and learn only.

We already had 2 meaningful releases (in the works well before my arrival). We won "most Preferred distributor in China" by ESMC Magazine for the 4th year in a row. What an honor. We also appointed Steve Bilodeau to the Nu Horizons board. Bilodeau is the past president of Standard Microsystems (SMSC). I have met him. He seems like a great addition to the already strong board.

I am frustrated that my house is not yet done. I feel disorganized which was not the plan. Perhaps I will learn that having a kitchen and being able to shower at home is over rated.

The NY Times did an interview with Kevin Sharer, CEO of Amgen.

I was impressed with what he said about Leadership:

Q.There are also, of course, intangibles in leadership. Could you talk about those?

A. Great leaders have something that when you see it, you know what it is, but it's hard ahead of time to describe exactly what it is. But the first thing I'd say is that leadership is not about charisma and it's not about style. It's something about authenticity. It's something about integrity. It's something about willingness to take risks. It's something about the ability to make others feel part of a larger thing. It's part of being able to articulate the social architecture in a way that others can understand, believe in and follow.

I came across another Blog on Time Management. The author is Bradley F. Friedman. He seems sincere and has good ideas. Click here to get to it. So when you read my blog and don't think any of the ideas are particularly insightful, read his.

How to learn names quickly and easily

2009-06-03T19:21:00.003-04:00

"Taking time is a thief's trade; making time is a strategist's. An effective manager must be both a strategist and a thief, stealing time from less compelling and more leisurely pursuits to get the job done"

Lewis Kelly

This was one of the first quotes in the book "Time Tactics of Very Successful People" by B. Eugene Griessman.

I am through my third day at Nu Horizons. Learning at this point is like drinking through a fire hose. There is so much for me to learn. There are so many people I need to reach out to. I am swamped. Almost back to back meetings. Many of which present me with more information and further action.

But it is fun.

Of course it would be more fun if I had a kitchen, furniture and a shower that worked. But all that well come together. Just as my understanding and learning will.

My "learning names" tip for today. I sent an email to all 700+ staff asking them to email me a photo of themselves. I then attach those photos to their Outlook contacts. It is much easier to learn peoples' names with a picture. And Outlook has a function to easily do this.

The only challenge it presented to me is just dealing with the email volume (even with assistance) was quite onerous. But I do think this is a great way to get peoples' names right.

Perhaps ask me in a month how it worked.

Chaotics

2009-05-31T09:32:00.003-04:00

Tomorrow is a big day for me. My first day at Nu Horizons. It feels a bit like being a kid on the first day of school. Excitement, anticipation, some apprehension. Will be fun, will be challenging.

I have not yet moved into my new Long Island house. There is still some construction being completed(like there is no kitchen and I cannot shower). It is behind schedule and not what I had planned. What I have learned in life though is we are often faced with the unexpected. Some things just are. So I will make do and do fine.

Last night I made the mistake of picking up a book late at night - "Chaotics - The Business of Managing and Marketing in the Age of Turbulence" by Phillip Kotler and John Caslioni. It was a page turner for me.

The thesis of the book is that the current turbulence is here to stay and that "times are different and always will be". I do not totally agree with the thesis. Through my business career, I have often lived through periods where people say "this is the worst", "I have never seen anything like this" and "this is different". What I have seen is things are not so different. At the same time, things always change.

I am a bit more of an optimist on the current turbulent situation as my article on thriving in turbulence suggests.

And regardless of the situation, we almost always reflect on the good old days. These are the good old days so enjoy them now.

I loved that the book is totally current with references to stock market declines, attacks in Mumbai etc. It adds impact to an already impactful book.

I also liked that they referenced some of my favorite authors and thinkers like Drucker and Christianson.

Chaotics makes the case that things are different now. It then goes on to give tools and insights to help deal with the situation. Things like "emphasize core values", faster strategic planning, high flexibility etc.

10 strategies outlined in the book include:

1 - keep recruiting. This means think long term and grab talent now.

2 - Don't recruit a problem. So elevate your recruiting standards, do not drop them.

3 - Allocate resources wisely (always right at any time in business. Especially when it comes to time use.)

4 - Increase communications

5 - Do not rely just on the CEOs message.

6 -be optimistic and opportunistic. There is always opportunity.

7 - Keep training. I totally believe in this one especially in tight times. People have enough slack that they can take hour off the phones to learn something that can make the business more successful in the future.

8 - Inspire the team. It takes the full engagement and commitment of the team to win.

9 - Follow through. This is not the time for lip service and starting without finishing.

10 - Keep your best people. People are the heart of any successful company.

All good common sense ideas.

It never hurts to use the prescriptions the books suggests just like it never hurts to plan for the worst even if things get better.

Great book. Well written. Good thought stimulator. Good action ideas.

Motivate Like a CEO

2009-05-25T09:52:00.002-04:00

I figured since I am a CEO, I should figure out how to motivate like a CEO so I read the book called, "Motivate Like A CEO Communicate Your Strategic Vision and Inspire People to Act!" by Suzanne Bates.

The first chapter resonated a lot with me. The gist of the message is summarized by one of the quotes, "Purpose is necessary, critical to a happy, healthy, and successful life". The message is that purpose is essential for motivation. The challenge is that people are motivated by different things. People work for a pay cheque but they live for a purpose. The first step in leading an organization is to be in touch with your own purpose.

The second chapter talks about the eight principles of motivating others through communication. In her previous book, Bates wrote "Speaking Like a CEO" and much of her topic was on communications. This book further re-emphasizes that with eight principles which include:

1) Begins with you -- your purpose and passion.
2) Communicate a clear powerful mission.
3) Learn what motivates people.
4) Make personal connections with others.
5) Make the conversation about them (like Stephen Covey's first law -- Seek first to understand).
6) Praise recognize and reward.
7) Walk the talk.
8) Empower people (I am big on this one. I don't believe any organization is scaleable unless people are empowered to do the right thing). Any leader is very limited if they expect to control and do everything themselves.

The book has exercises on how to discover your purpose; how to connect with people to purpose; link the what with the why, etc.

The book absolutely needs to be written. It is clear that good leaders need to inspire people and the book gives a lot of the reasons why they need to be inspired and some examples on how some people were inspired. I think in some cases it is harder to put into action some of the ideas in real-life.

I found the book to be an easy read and very well laid out. I like the summaries at the end of the chapters and you could read just the insert boxes to understand the book.

It is a good, well written book for any leader.

Life Under the Corporate Microscope.

2009-05-23T21:57:00.003-04:00

"The best time to plant a tree was always 20 years ago. The second best time is always today."

Chinese Proverb

This is true of our life. Nothing is accomplished by regretting what was not done in the past (unless that spurs action today). The best thing to do is to take action today. As I have often said "Do It Now!". It is never too late to become the people we wished we had become.

One of the latest books I read is "Life Under the Corporate Microscope" by Larry Underwood.

Larry was with Enterprise Rent a Car for 20+ years. He started at the bottom and worked his way up to managing huge region for them. He lead the company through huge growth. This is truly a rags to riches story. He blatantly talks about the millions of dollars that he made in the latter part of his career.

Larry, by his own admission, is irreverent. The book is written in story fashion (like my brother Lyle Estill's books - Small is Possible and Biodiesel Power). So the book is definitely not a scientific or researched book. It is an off the top story of his life in the rental car business.

He comes across a lot like a used car salesman. Lots of profanity. High focus on partying and making money.

His story includes a lot of characters. He obviously is a people person. I am sure this is part of how he was a success. He also prides himself on being funny and uses that as a way to ingratiate people to him.

Larry is obviously highly successful. I sense that he loved by many but not by others. I was disappointed that he did not get into more of the business details on how he was able to achieve such growth and profitability.

As I read how he felt that head office oppressed him and his staff, I could not help but think that I need to be very careful since I am "head office" to add value to the branches and people in the field.

It was a fun read. Entertaining. And a break from most of the other business books I read.

The Toilet Paper Entrepreneur and Time Management Tips

2009-05-16T13:35:00.004-04:00

Yes - that's is actually the title of a book written by Mike Michalowicz. The Toilet Paper Entrepreneur is a basic how to book on Entrepreneuring.

Mike is an accomplished entrepreneur. He has experience and wisdom.

Mike is very encouraging to anyone who wants to start a business with a strong push to getting them to act. He also trashes anyones' ideas that they are lacking in some area to start a business.

He includes a short section on Time Management. In the style of the book, he distills it all down to 4 pages that include ideas like:

1 - Write tasks down - capture tasks. Essentially - have a To Do list. (This is the basis of all Time Management Systems).

2 - Prioritize the list (again this is fundamental to all time management systems. This step is only possible if you have clear goals).

3 - Eliminate duplicates on the list.

4 - If it only takes 2 - do. If you can complete it in 2 minutes - just do it. (This is one of my Managing Email volume tips)

5 - Eliminate time wasters. (easily said but this requires discipline and knowing. I like to track what is taking my time and then giving things a "value" score. If I am spending too much time on low value stuff, I am inspired to change)

6 - Concentrate your thoughts. Multitasking is a myth.

7 - shut off email (This is his list - not mine. I agree with part of the theory here and might experiment some on this).

8 - Delegate. I wrote a whole section in my Time Management Book on how to delegate (even if you have no one who works for you.)

9 - Commit to someone else. If you commit, this gets you moving.

10 - Make it manageable. Break down the big jobs into smaller tasks.

11 - Take a break. This can re-energize so productivity increases. My variation on this is to change to a different nature of task. EG - If I am reviewing budgets, I can switch to reading a report.

12 - Go in spurts. People perform better and get more done if they work hard for a short while then ease off. What I like to do is see how much I can prolong the spurts for.

13 - Reward yourself.

14 - Make failure painful

13 and 14 are basic. We do something if it is more rewarding than not or if it is more painful than not doing anything. Enhance the pain or the pleasure for better results.

15 - Stop Bitching (His words). If things are not progressing - stop complaining and just do it. If the book has one key message it is "just Do It - and Do It Now". This really resonates with me. I see this as the key to most business success.

Good basic summary of Time Management Rules!

The book is good. Short and fast. He distills most wisdom on entrepreneurship down to the basics. I did find the bathroom humor detracted from the book though. Perhaps it is his way to be edgy and try to set himself apart?

============================

Last night I attended a SYNNEX "send off" reception held in my honour. It was very moving. I will really miss being a part of SYNNEX. I met a lot of good friends at SYNNEX. I was challenged. I learned. I grew.

The speeches were beautiful. It is almost a case of "if I had known how much you would miss me - I would stay".

Still, looking forward to my next challenge, moving to Long Island and working at Nu Horizons.

Jim Estill Appointed As President and CEO of Nu Horizons

2009-05-11T17:01:00.002-04:00

My new challenge has been press released. Beginning June 1, I will be moving to Long Island to become the President and CEO of Nu Horizons Electronics. Nu Horizons is a Nasdaq listed (NUHC) global distributor. More details about Nu Horizons Electronics below or on their web site.

Full Press Release:

Nu Horizons Electronics Corp. Names New President and Chief Executive Officer
Current CEO to remain as Executive Chairman Current President to remain as Senior Executive VP and Chief Operating Officer

MELVILLE, NY - May 11, 2009 - Nu Horizons Electronics Corp. (NASDAQ:NUHC), a leading global distributor of advanced technology semiconductor, display, illumination, power and system solutions, today announced that James Estill has been appointed as the company's president and chief executive officer effective June 1, 2009. As of that date, Arthur Nadata, currently the company's chairman and chief executive officer, will serve as the company's executive chairman and Richard Schuster, currently the company's president and chief operating officer, will serve as senior executive vice president and remain as chief operating officer. According to Arthur Nadata, "After a long search for a chief executive officer who would compliment our existing management team, we are pleased that Jim Estill has agreed to join Nu Horizons as its president and CEO. We believe that Jim's prior experience as president and CEO of SYNNEX Canada, a company with over $1 billion in annual sales, together with his experience as a founder of EMJ Data Systems Limited, which he grew to over CDN$300 million in revenue before its sale to SYNNEX, will enable Nu Horizons to improve significantly its position as a leading demand creation distributor in the electronics distribution marketplace. In addition, Jim also serves on the Board of Directors of Research in Motion Limited, a position he has held since 1997."

"Both Richard Schuster and I will continue to be involved in, and remain committed to, Nu Horizons, a company which we founded in 1982 and have grown to almost $750 million in sales. Nevertheless, recognizing that a fresh perspective would be invaluable in this challenging economic environment, as well as assist the company's board of directors in its succession planning, we started a search for someone who ideally would have both an entrepreneurial background and the ability to manage a large organization. We are delighted that Jim satisfies both criteria. We believe that by adding Jim to our existing management team, Nu Horizons will be able to continue to build on its competitive position in the global marketplace and come through these difficult economic times as a stronger company."

In connection with Mr. Estill's employment as president and chief executive officer, he will be granted 360,000 inducement stock options. The stock options will have an exercise price equal to the greater of $2.00 per share or the closing stock price on the trading day preceding the effective date of his employment; a term of 10 years from the date of grant; and will vest in three traunches of 120,000 shares depending on the duration of Mr. Estill's employment and the achievement of a targeted stock price. However, all of the stock options will automatically become fully exercisable in the event of a sale or change of control of the Company and will become fully-vested on the ninth anniversary of the date of grant provided that Mr. Estill is still employed by the Company on such date.

About Nu Horizons Electronics Corp.Nu Horizons Electronics Corp. is a leading global distributor of advanced technology semiconductor, display, illumination, power and system solutions to a wide variety of commercial original equipment manufacturers (OEMs) and Electronic Manufacturing Services providers (EMS). With sales facilities in 54 locations across North America, Europe and Asia and regional logistics centers throughout the globe, Nu Horizons partners with a limited number of best-in-class suppliers to provide in-depth product development, custom logistics and life-cycle support to its customers. Information on Nu Horizons and its services is available at http://www.nuhorizons.com

Cautionary Statement Regarding Forward-Looking Statements Except for historical information contained herein, the matters set forth in this news release are forward looking statements. When used in this press release, words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Nu Horizons or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of Nu Horizons' management, as well as assumptions made by and information currently available to its management. Forward-looking statements involve certain risks and uncertainties that could cause actual results to differ from those in the forward looking-statements. Potential risks and uncertainties include such factors as the level of business and consumer spending for electronic products, the amount of sales of the company's products, the competitive environment within the electronics industry, the ability of the company to continue to expand its operations, the level of costs incurred in connection with the company's expansion efforts, the financial strength of the company's customers and suppliers, the current economic and credit crisis and risks and costs related to the pending Vitesse-related SEC internal investigation. Investors are also directed to consider other risks, costs and uncertainties discussed in documents filed by the company with the Securities and Exchange Commission. Such statements reflect our current view with respect to the future and are subject to these and other risks, uncertainties and assumptions relating to Nu Horizons' financial condition, results of operations, growth strategy and liquidity. The company does not undertake any obligation to update its forward-looking statements.

Time Management Trick to Beat Procrastination

2009-05-10T12:31:00.003-04:00

I am not sure if this is a genius new time management technique but it is one way that I recently got over some procrastination.

I had some files that I needed to go through and I was avoiding doing it because I don't particularly like doing paperwork.

In my office I have a round table for meetings in front of my desk and as I walk out of my office, I pass the round table. Every time I walked passed the table I dealt with one file.

I knew that I needed to deal with the files and sure enough fairly quickly I was able to go through the files. The strategy for this "out of sight, out of mind" so if you want to get some paperwork done, keep it visible so you will do it.

This ties in well with leave the room or place you leave slightly neater than when you entered it. Just putting one thing away each time can make a huge difference.

In Search of Productivity

2009-05-08T18:14:00.003-04:00

I recently talked to Mic Berman. She spoke of the new time - "and 30 minutes is the new 60." She got this from Mike Lee (Chief Strategy Officer) at Rogers.

This got me thinking. Productivity would go up in some cases if I thought in terms of smaller time blocks. So, as an experiment, I set out my time blocks in 20 minute increments instead of 30. I have used a similar technique in the past by scheduling meetings back to back (that stops them from going overtime).

Productivity improved on some things. On others though, it declined primarily because I did not complete the task and there is always an overhead with starting a new task. I also found that I use the breathing time between tasks for routine things like email.

So I guess the best solution is still the old fashioned "know your priorities" and you spend the appropriate amount of time on the appropriate things.

I had an interview with Shelley McQuade posted on her Sales Fertilizer Blog.

Warren Buffet's AGM

2009-05-04T12:57:00.004-04:00

I am just back from Omaha. I was at the Berkshire Hathaway (Warren Buffet) annual meeting. Very inspirational event.

35,000 people attended in a stadium. It felt like a concert atmosphere. Warren Buffet and Charlie Munger candidly fielded questions for 6 hours.

There was a tradeshow of the companies he has investments in. This was brilliant cross marketing. Get your shareholders to buy your products. Obvious and simple and adds value to his investments.

The message mostly reinforced everything I knew but it was reassuring. The sky is not falling. Everything is long term. Do smart business. The basics win long term. Look for value.

I liked the simple analysis they do of companies. They even call it false precision to use computers to calculate to multiple digits since so much is dependant on assumptions.

Some Quotes:

"Just because everyone else is doing it does not make it a good idea" (my mom used that on me all the time)

"Derivatives are weapons of mass destruction"

"Whenever anyone buys a security, someone is selling it. They cannot both be right"

"don't obsess on one disadvantage when you have so many advantages"

"Capitalism is creative construction"

Generally I felt an optimism about life and the future.

Changing topics, I was nominated to the National Magazine Awards for an article I wrote for Profit Magazine. From an email from them:

I know it’s a cliche, but given the prestige of the NMAs within Canada’s magazine industry, it really is an honour just to be nominated, whether or not you also go on to win a gold or silver.

Thanks again for your contribution to our success with Your Next Big Thing.

This is a humbling honour for me. I will note that I was only one of seven contributors to the section so the award is not all mine.

Jeff Immelt and the New GE Way

2009-04-30T21:27:00.003-04:00

I just read Jeff Immelt and the New GE Way by David Magee.

I love reading books about great leaders. They inspire me. Like what Immelt said "We are never as good as we can be". So I study.

Immelt had a tough and very public act to follow in Jack Welch. From reading the book, I prefer Immelt's style more than Welch's. The book is polite and makes few comparisons but it is easy to glean from reading.

The book is meant to give insights into lessons a leader can learn from Immelt. And there is much that can be learned. Much is simple (one of the goals of GE is to make things simple). EG ask questions and listen to the answers.

Every book I have read about GE stresses the need for details and processes. Part of any companies success is digging in. Doing the work and knowing the details. As a leader, I like to surround myself with people who like the details. Details win.

I liked Immelt's personal strategy for overcoming tough times:

"Commit to learn everyday (you need an incredible thirst for knowledge)

work hard with passion (competence and energy solve most problems)

Give people a reason to trust (the world is more selective today - trust is a differentiator)

Have confidence (Understand that you can make a difference)

Be an optimist (cynicism is corrosive)"

I was impressed that GE never backed off training, even in tough times. I believe tough times are a good time to invest in training. Partly because change is required and training helps foster positive change and partly because usually there is some surplus capacity so staff have the time.

I resonate with Immelt "I'm a learner, and most good leaders that I like are the same way".

GE's core values according to Immelt are:

Integrity
Performance
Change

These look simple. I would have added more definition. EG change for the sake of change is not good. It is "appropriate change" that needs to be sought. Immelt says "constant reinvention is a central necessity".

I liked what Immelt teaches young leaders:

1 - take personal responsibility
2 - Simplify constantly
3 - Understand depth, breadth and context
4 - Focus on alignment and Time Management. (and no I did not make that one up)
5 - Learn constantly and learn how to teach. (and I would add learn how to learn faster and better)
6 - Stay true to your own personal style.
7 - Mange by setting boundaries, but allow freedom in the middle.
8 - be disciplined and detailed.
9 - Leave a few things unsaid
10 - Put people first (interesting since this has not been a GE trait - I agree - see my review of Primal Management)

As a small shareholder in GE, it is tough to be objective since my investment returns have been less than the index. But when I look at the true facts, GE has actually performed well (not the stock - the company). In the 6 years from 2001 to 2007, sales and earnings both increased by 60% while the stock price dropped 7%. And since then, the stock has dropped by 66%! So poor investment.

This said, true maturity is being able to learn from people regardless of circumstance.

The book is well written. Macgee is a good writer with impressive credentials. I will read his other books. It is an easy and quick read.

Truth Telling and Billy Taylor Race

2009-04-26T14:29:00.002-04:00

Photo courtesy of Heathstones.

Truth Telling

In ancient times, court jesters were used primarily to provide feedback and criticism to the leader. Because they were, in theory, jokers, anything they said was "a joke" so they could get away with giving feedback that would have cost others their lives. They still had to employ tact and diplomacy as their role did not give them total immunity. (As I write this I am thinking what a nice leader I must be as I rarely have people beheaded or whipped).

One of the roles that I like to have around me in leadership is the truth teller.

A truth teller tells me the truth. It tends to be tough and leaders tend to be insulated so they need this.

Sometimes the truth teller states the obvious things that I know in my heart but it gets me moving to solving the challenge.

A good leader encourages truth telling. A good team member truth tells tactfully and respectfully, without sarcasm. It takes both to make a perfect team.

Today I ran the Billy Taylor 15K race. Perfect weather for it. Perhaps 15 degrees C and overcast. The race started fast. Many of the participants were only doing a 5 K and there were a lot of students who tend to jack rabbit start. So I let many people pass me.

It was windy and by the time the 5K runners were turning around, I thought, "I should just do 5K next time". The course was considerably ligher after the 5K runners dropped off.

I was at 19:30 at 4K (I asked another runner who was checking his watch as I do not run with one).

By 7K, I was steadily passing runners. Hitting the 7K mark was great since I often run 5 miles (8K) so I knew I was on the home stretch. The wind seemed to lessen.

By 10K, the runners had spread out and I was largely running alone.

In the end, I finished in 1:13:49 or 4:54/K or 7:56/mile. Not a bad finish.

The toughest part of the run was after when I had to run 3K to get home. My muscles were sore by then and I had let them seize up a bit.

Running a race is not the best Time Management technique for running (It took most of the morning by the time you show up, get your number etc) but it is one of the tricks I use for exercise motivation.

Primal Management Book Review

2009-04-24T08:00:00.002-04:00

I just finished a great book - "Primal Management - Unraveling the Secrets of Human Nature to Drive High Performance" by Paul Herr.

Herr starts with a statement "Business..has pretended that emotions and feelings are irrational and unimportant. This is simply wrong". The rest of the book goes on to successfully prove this point.

He uses the scary statistic that only 31% of the employees are motivated in America. If that statistic is true, there is huge upside opportunity in our businesses.

He talks about 5 "appetites" that all people have.

1) Cooperation - People want to work together in groups. Groups are more powerful. Successful leaders can grow teams that work harmoniously towards a common goal. People want to belong to a group.

2) Competency - People want to be competent. They also want recognition for this. There is a self esteem loop that occurs. Be competent, get recognition, be more competent etc. Successful companies and leaders can enhance this loop.

3) Skill deployment - people want to be allowed to use their skills. One of the challenges of the leader is to help people use and strengthen their unique abilities. Because everyone is unique, people are not just replaceable cogs. If anyone leaves, the company loses that persons' uniqueness.

4) Innovation - People are naturally curious and will come up with good ideas. Good leaders help nurture and encourage these.

5) Self-Protection - People are motivated to feel secure. One huge downside of the current turbulent times is this security is being threatened. Good leaders seek to create stability.

Herr makes the point that all decisions are first made with the emotions. We then go on to rationally justify our actions.

Herr sets a high bar for leaders. Walk the walk. Truly care for the people who work with you. Exceptional caring leads to loyalty and dedication.

Herr emphasizes the we based leadership style as opposed to the me based one. Good leaders trust their people, respect them, are polite to them and recognize that the only way to thrive in business is through their people. I am of the belief that the larger the company, the more the leader simply sets the tone or culture but in order to succeed, the people need to make the decisions. So decision making is not necessarily the job of a good leader.

I am a big believer that it is a combination of the numbers and the human side to make a successful company so the book resonates with me. I find that much of the business literature tends to focus more on the numbers and less on the people.

This is a great book for any leader to read. Should be required reading for all CEOs.

Controlling the Time Social Media Takes

2009-04-23T17:46:00.003-04:00

I have largely been on holidays and notice that my productivity is lower than I would like. So I went back to tracking my time using my time tracker time log.

I know advancing my understanding of social media (Twitter, Linkedin mostly but also would apply to Facebook, Blogging etc.) was on my list of things to do but I found it was taking too much time. So I came up with this post on:

8 Ways to Control Social Media.

There is nothing wrong with spending time on Twitter or Facebook or Linkedin etc. if that is how you choose to spend your time. I feel these tools have tremendous value but is not controlled can absorb more time that I choose. I think many of the same rules could be used by some people for TV.

My 9 ways to Control the Time I Spend Include:

1 - Decide what you want to achieve and get out of social media. Decide how much time you want to devote to social media. And decide what you want to accomplish with it. Like any challenge, defining the goal is key. It is like my Time Leadership concept - Leadership (goals, vision, direction, effectiveness) come before Management (action, efficiency)

2 - Track the time you spend. It may surprise you. And if it is not in line with your goals, this alone will likely spur you to take action.

3 - Use tools to make things go faster and to help focus on what your goals are. I love Tweetdeck. I use it as a research tool to keep tabs on the topics I want to follow. And I often add a column just like I would do a google search to research a topic. Another tool is Hootsuite which allows me to post multiple twits but have the send at a later time.

4 - Think quality. Reading bad material is like watching a poor TV show. If it is not adding value to your life, just don't do it. The same goes when posting. I use a variation of what my mom used to say "If you can't say anything nice, don't say anything at all". My variation "If you cannot add value - don't say anything at all". Think adding value.

5 - Have good files for things you want to post on. I simply use an email folder to file things I might use in the future. And I have a physical file as well since some things are not electronic. As with all Time Management, organization systems help.

6 - Have some ready to go. I have used this concept for years in blogging. I have 50 entries that I can edit a bit and post in a matter of minutes.

7 - Write efficiently. I wrote an article called "How to Write and Article in 20 Minutes" on the topic. I think the Twitter 140 character maximum might help us all be more efficient communicators.

8 - Set specific times to look at it. I now do not leave Tweetdeck open, I turn it on for 15 minutes in the morning and 15 minutes at night or 10 minutes 3 times per day. I can easily browse most material by doing this.

9 - Consider a Social Media fast for a few days. You will not miss much. And you will likely return to it with a greater appreciation on what you want to get from it.

In the end, think value (to you and others) and think quality, not quantity.

Leadership Legacy

2009-04-21T05:42:00.003-04:00

One powerful way I use to motivate myself is to think of what legacy I will leave. I imagine what I will have accomplished and the impact I will have had on people. My Leadership Legacy.

This is just another way to Set goals. It works.

From Kathryn Fialkowski's Blog:

Someone told me a story once, where a person was guided to look back at the journey of their life displayed on a tapestry. "It's beautiful and perfect," they said. The guide said, "wait, you are looking at the wrong side." And he flipped the tapestry over. There on the other side: knots, entanglement, loose threads. It was messy and complex. The guide said, "this is the journey as you lived it. The other side is what you leave behind."

More Success Rules - Start to Finish Momentum

2009-04-18T05:44:00.004-04:00

My blog post on Success spawned feedback that prompt me to write on it again.

My mom said "Finishing is one Success rule". So true. I know a lot of people who do 80 or 90% but never finish.

I would add "Starting is also a Success rule". Often people simply do not start. So start it.

Both parts of just doing it are important. Then they need to be tied together and what I use is momentum.

So what are some of the tricks I use to gain and keep momentum from start to finish?

1 - I have many mantras. Statements I repeat often to myself. One of these is "Just Do It". Hopefully Nike does not sue me for it.

2 - I do the worst thing first thing. I have a to do list. I simply go through it and pick the one task I am like the least and do it first. Brian Tracy calls this "Eat a Frog first thing and the rest of the day looks better". He even wrote a simple book on how to solve procrastination called Eat That Frog.

To add power to this technique, I create 2 first things. First thing in the morning and first thing after lunch. What originally spawned this was the fact that I could not call someone first thing in the morning often because they would not be available so I started adding after lunch. I found this so effective, that I have kept this habit.

I soften the technique some by adding "15 minutes". I have the theory that I can do anything for 15 minutes. Often when I start it I keep going but I give myself permission to stop after 15 minutes.

3 - Break the big job down into small parts. Small parts are not onerous. And often some of the small parts are easy to do.

4 - Do a few small parts of the job. Success builds momentum.

5 - Set a specific time for a job or task. I find I am more likely to do something if I have a specific time to start it.

6 - I ask myself "what would I like to have done by the end of the day". This simple technique often inspires me to complete the task.

7 - Sometimes I journal. I tend to do this sporadically. For me a journal is not where I put my feelings. Rather I write what I accomplished and how I am doing on my goals. For some reason, knowing that I will write about it helps me keep on task.

Any other ideas on starting, maintaining momentum and finishing?

Success Ideas

2009-04-14T15:40:00.002-04:00

I am taking a break from work. It gives me lots of time to reflect.

Today, I am thinking about success. Asking people what helps success. Although, not a complete list, here are some ideas:

1 - have Success Habits. We are the product of what we repeatedly do. So decide what habits support success.

2 - Have clear goals and vision. Knowing what your definition is of success is half the battle.

3 - Develop systems that support what needs to be done.

4 - Accept failure. Fail Often, Fail Fast, Fail Cheap. Learn from it but it does not make you a failure.

5 - Have discipline.

6 - Look for the good always. Successful people tend to choose to be optimists.

7 - Realize your reaction is in your control. We choose how we rspond to situations.

8 - Of course I would have to say study Time Management.

What other ideas can you add to how to be successful?

Work The System - a Book Review

2009-04-11T10:11:00.003-04:00

I usually do not rave about books I read. One way I judge if a book is good is if I actually take action as a result of reading it. I love this book and have taken action as a result of reading it.

Sam Carpenter (the author) sent me his book "Work the System - The Simple Mechanics of Making More and Working Less." My instant knee jerk response was to reject the book based on the title. I am a work ethic guy. I reject get rich quick and short cutters. I wrongly assumed this was one of those books. It is not.

I actually love competing with companies and people who shortcut. Work ethic has been one of my competitive advantages.

The gist of the book is "Its all about the systems you build to support your business". Spend you time polishing and perfecting them.

I have a degree in Systems Design Engineering (U of Waterloo) so the book brought back memories of what I had learned in school. And it drove home that I need to be vigilant in applying systems theory (and practise) to myself and my business.

Carpenter breaks the systems problem down into 3 different actions. First - Defining your Strategic Objective. I might call this goals. Then turn this into a set of Principles. Principles could be considered to be corporate culture. I have often said that a CEO should not focus on doing all the decision making but on culture so that decision get made with the right logic and thought. Coach on culture but let people make decisions.

And then the book moves to specific procedures. And documenting them well.

The part of the book that focuses on procedures is very similar to Gerbers eMyth and the principles those books tout. What I like a lot more about Carpenter is he is not saying he is the sole genius and you need to make every job so mindless you can hire a non thinking monkey to do it. He encourages feedback on the systems from everyone.

I realize as I phase out of SYNNEX that I had built great systems that really allowed me to do what I do. I certainly am planning my new systems for my next challenge. And I realize my personal systems also need some work.

Work the System definitely applies to business but also can be applied to personal life. Things flow more smoothly if we have good systems in place and if we constantly perfect them.

The book's points and are valid. Carpenter puts it all together with a very interesting book. He tells his personal story of working for years from dawn to dusk and getting no where. And how, in desperation, he changed his approach from "doing" to "working on the system". And how that turned his business and life around.

Good book. Read it (and I don't usually say that)

Cats - The Nine Lives of Innovation

2009-04-04T04:43:00.004-04:00

There was a nice article about me in CDN.

Today is the first day of "holidays" for me. I am determined to have good discipline and habits during my break. I feel disorganized at home so today will solve that. For me, organization and systems are how I gain productivity.

I have been enjoying twitter (although I am not too active on it). I am working on understanding the impact of social media. tomcarswell usually had good referals. Particularly enjoyed the Social Media Guide he tweeted about.

Twitter says when you go to tweet "what are you doing" and so many people put irrelevant stuff up like "eating a ham sandwich" which does not add value. Others however do share insights and refer good URLs. Interesting media.

I read "Cats the Nine Lives of Innovation" by Stephen Lundin. Good book. Lundin was the co-author of "Fish".

The book as the titles implies is about innovation and how companies and people can become more innovative. His thesis is that innovation and creativity can be learned and there are certain things that can be done to enhance creativity.

One concept I liked was his authentic energy concept. Authentic energy is energy that flows from choice and commitment rather than obligation or fear.

In an interesting paradox he talks about lack of clutter and quietness as being one way to get to creativity and in other chapters he talks about the need for uniqueness, clutter and social interaction. The two concepts seem somewhat opposing; however, I certainly understand where he is coming from and I think different creativity needs different things at different times.

One thing that I constantly use to enhance my creativity is reading. I think that is one of my biggest creativity enhancers.

The forward of the book was written by Tony Buzan who originated the mind map so the book talks a lot about mind maps as the creative way of getting to solutions. I have used mind maps for years.

Good short book and I highly recommend it.