No matter who you are and what you do, your success relies on your ability to effectively follow up with people. Do you dread having to follow up and make up excuses to avoid doing it? It’s time to stop!
If you are a salesperson in the midst of a deal – you have to follow up in order to close the deal.
If you are looking for a new job you have to follow up to stay relevant and top of mind to the potential employers.
If your work requires you to collaborate with others in or outside your team – follow up is just part of the game.
Continue reading "Four Ways to Follow up without Being a Nag!" »
Megan McArdle, a libertarian-oriented commentator on economics, recently recalled her reaction to a proposed class-action suit of the early-2000s dealing with fast-food companies’ impact on public health. McArdle challenged an author involved in the anti-obesity cause to point to any research demonstrating that the restaurant chains’ advertising induced children to increase their consumption of fast food.
The question confused the author, who simply assumed that corporations would not spend millions of dollars on advertising unless it increased sales. McDonald’s does not, however, advertise with an eye toward convincing kids to eat more fast food. The goal is rather to persuade them to eat it at McDonald’s (NYSE: MCD) instead of Burger King or some other chain. In general, advertising is better at stimulating specific demand (brand selection) as opposed to primary demand (the decision to consume).
This point was emphasized in the mid-20th century by critics of advertising, which at that time was mired in political controversy, much as the financial industry is today. It became an article of faith among many economists that because advertising did nothing to increase overall consumption, it represented a waste of resources.
Continue reading "Should We Outlaw Advertising?" »
The following post was adapted from a chapter I wrote for John G. Taft’s new book, A Force for Good, published just this past week by Palgrave Macmillan. John is the CEO of RBC Wealth Management, and I am proud to be in the illustrious company of individuals like Mary Schapiro, Robert Shiller, Sheila Bair, Roger Martin, and Dominic Barton, who were invited by John to contribute to this book. I think you will find A Force for Good a fascinating read as it explores, from a variety of experienced perspectives, how the financial industry can marshall, for the long-term public good, the creative energies and brainpower it has deployed in the past to develop derivatives, high-frequency-trading technologies, and other engineering complexities.
Continue reading "How Finance Can Help Save Our Planet" »