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Will you end up an 86 year old bank robber?

Will you end up an 86 year old bank robber?

January 24, 2014 @ 10:00 am
by Vance Morris (Disney Guy)

News Flash:

An 86 year old Dade County Florida Woman robbed a local bank but does not get away with it.  She gets arrested, but not before leading the police on a four and a half mile chase at speeds up to 36 miles per hour.

You see this is a growing trend.  Just over 10 years ago, less than 1/10 of 1% of all bank robberies were committed by folks over the age of 60.  Now, that number is about 1.3%. Now that may not sound like much unless you calculate the percentage increase, which is a whopping 1200%.

What does this have to do with business and success?  Everything.

In this new economy (I am really starting to hate that phrase, isn’t every day a new economy?), speed counts for much of your success in business.

  • Are you decisive?
  • Are you Impatient?
  • Do you have a sense of urgency?
  • What is your “Time to Market”?
  • Are you a sequential or simultaneous implementer and doer?

If you have studied the Iaccoca biography and his turn around of Chrysler, and you should, then you know that Iaccoca took massive action and worked simultaneously on multiple fronts.

Here is what it would look like if you took over Chrysler and you were a sequential thinker.

  1. Spend about 4 months with a committee on how to shrink the losses and cut expenses
  2. Then form another committee and spend 4-6 months negotiating with creditors.
  3. Spend another 3 months negotiating with the unions.
  4. Then, if you managed to somehow slow the money hemorrhaging, you might organize a design team and get a new product launched within a year.

However, by the time you did all this it would all be over.  Finished.  Bankrupt.

But you see, Iaccoca was a simultaneous massive implementer.  Here is what he did simultaneously:

He took an ax to expenses, negotiated with the creditors and the government, they launched 2 – not one – but two new product lines.  The all new mini-vans.  You may remember that Chrysler and Iaccoca invented the cup holder.  The single biggest innovation and invention the auto industry had ever seen since the assembly line. And he revived the convertible, a product long ago considered dead.

The story of the revival of the convertible is a great story: Iaccoca was walking around the factory floor and two workers came up to him and said “This car would look great as a convertible”.  Here is what Iaccoca did NOT say:

  • He did not say “We don’t have the resources to launch convertibles.  We are on the verge of bankruptcy and we are hemorrhaging money and I got a union meeting followed by a creditors meeting.  Don’t talk to me about convertibles”
  • He also did NOT say “Let’s for a committee with 27 engineers and we can start looking at it”.

No… Here is what he did say “Get a blow torch and cut the roof off”.  Then he gets one of the workers and says “Get in and let’s go for a drive and see if any chicks look at us”.  When they got back to the factory, he said “Let’s sell them”.

That is simultaneous execution.

That is Decisiveness

That is Massive Implementation

If there had been anyone else running Chrysler, it would never have survived. It would have been over for them if they tried to do this in an orderly manner.  Sometimes you just need chaos…

By Vance Morris

 

 

 

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