SHOW NOTES:

The threshold of rational behavior and values overcome by opposing normative pressures.

The rioter's justification.

The battlefield.

The social media and "influencers."

People who have low self-esteem and seek bias confirmation and approval.

Fear begets fear, panic begets panic.

The "drug" of the "magic bullet."

Handholds when you're confused—they may be even more dangerous.

Example: Are you trading or investing?

Example: Have you looked at best case/worse case?

Example: Have you considered probability and seriousness?

The case of the quite successful "big lady."

What's the empirical evidence and observed behavior?

A friend is a friend, not an expert.

The three kinds of empathy.

You can't deal with Hardly Relevant or Losing and Dying.

You must be paid at least a deposit in advance.

You must have "non-cancellable" under terms and conditions.

You have to deal with a legitimate buyer. (I'm a buyer, I just don't have the budget.)

The difference between budget and money.

Don't argue over small matters and fall into the legal trap.

Meet whomever is a stakeholder, especially in small businesses.

Conceptual agreement ends with pouring concrete.

Don't sacrifice and compromise personal issues.

Don't give off "deal vibes".

Always give options with value based fees.

Always set DTA.

Discuss outcomes not "deliverables".

Create value with the buyer (that's how to increase fees).

Never do a "pilot".

Never do pro-bono for a for-profit.

Never give a lower fee to sample your work.

Do your homework.

Act like a peer of the buyer.

While it's true that nonprofits often fail for lack of funding, there are reasons that they don't achieve funding or that they use it incorrectly and/or inappropriately. Here's my experience from eight boards, including chairing two of them:

The boards are weak. They are made up of "names" who would seem to be significant, but who provide very little in terms of governance skills, strategic viewpoint, or even attendance.

The executive director/CEO remains too long. The "shelf life" of these leaders is about seven years. After that, they stop serving the institution and the institution starts serving them. They create a tyrannical "fiefdom."

No skin in the game. There must be a "give or get" minimum financial contribution from the board. They can't just play with "other people's money," and many granting foundations insist on such investment as a must for grants.

They are not run as businesses. There is a budget to meet, strategic goals to achieve, the mission to be accomplished. They often approve budgets with illusory revenue sources, for example.

They aren't professionally run. Just because you're a "volunteer" doesn't mean you have an excuse to be unprofessional. You need to meet accountabilities, show up, and do your job.

Donors are not sufficiently romanced. Donors need to be "triaged" so that the highest donors receive the most recognition. One theater, in a fit of "woke" madness, actually put donors in alphabetical order in their playbill, so that no one knew who gave $5 or $50,000. That's just dumb marketing.

They exhaust funds and credit lines with no idea of how to repay. Debit kills the arts in particular. There's no room to take risks or to contract for expensive rights.

Politics overwhelm the value. It was just pointed out that every member of the board of National Public Radio, accused of being far too liberal and unfair in its reporting, is a Democrat. That wasn't an accident, and they're using public tax money.

They default to tactics on the board, not strategy. Instead of talking about what to create to attract more patrons or donors, they discuss what meal to serve at the next fundraiser.

Every organization is a business. You need customers/clients/members/audience/contributors. You need leadership and board members who know how to run a business and meet goals and financial requirements. Oh yeah: And you need term limits to remain contemporary and effective.

Uncertainty leads to poor choices. People seek certainty at the cost of their well-being. We have been "certain" about such horrors as eugenics and such trivialities as not swimming for an hour after eating.

We've had brutal endings to cults, in Waco, in Jonestown, because conmen had convinced followers that they had certainty. We have polarization today because opposing politics or values cause adherent to be "certain" about their position and hold those who disagree as inferior.

There are people taking invalid behavioral tests to dismiss others as having weak or defective profiles, and they are certain that they are superior to them. I remember when so many people had their feet burned trodding over hot coals that more EMTs had to be called. I guess their motivation wasn't sufficient—they were uncertain.

BOTH science and religion try to create certainty around the mysteries of the universe, as if we could understand the unfathomable. (What do we mean there was "nothing" and then there was "something" which then "exploded"...??)

In this age we need to live with and thrive on uncertainty. Solid companies such as GE suddenly crumble. Upsets in sports abound. We have gone from "global warming" to "climate change" to try to correct prior uncertainties.

Can you be "certain" that your kids aren't using drugs or that your elected officials aren't stealing? I'm not calling for continual cynicism, but I am suggesting we have to live with uncertainty and be resilient and agile enough to deal with the failure of the "certain."

These two astronauts who went to the space station for a week and nearly stayed for a lifetime are good examples of dealing with uncertainty. Of course, they have "the right stuff."

I'm a capitalist. Socialism and the rest simply favor the few at the top, from Lenin to Hitler to Castro. Yet we do have too high a level of poverty.

In the face of this we are paying athletes tens of millions a year and hundreds of millions in contracts. Connor McGregor makes $180 million annually, Lionel Messi $130 million. Juan Soto, a good hitting but poor fielding right fielder has signed a $765 million contract with the New York Mets, which is about $60 million a year, more than a million dollars a week, and that's not counting endorsements, commercials, and other extra-curricular activities.

Entertainers make a fortune: Dwayne Johnson (the Rock) $88 million, Ryan Reynolds $100 million, Kevin Hart $100 million, Tom Cruise often $100 per picture. I don't doubt their talent, but I do question the proportions.

I've never believed that if you build one less aircraft carrier you could improve every school. Government doesn't use "pockets" of money. But I do suspect that most athletes and entertainers, proportionally, do not contribute to charities or their communities in greater percentages than average.

The same, of course, applies to business executives. Elon Musk (Tesla): His compensation reached $1.403 billion in 2023. Alexander Karp (Palantir Technologies): He earned $1.099 billion in 2023. Hock E. Tan (Broadcom): He received $767 million in 2023. Brian Armstrong (Coinbase Global): He earned $680 million in 2023.

I understand that these people bring fans into the athletic venues, into theaters and streaming services, and produce products and services that are needed. But unless you've founded a company, as did Fred Smith with FedEx, Steve Jobs with Apple, or Bill Gates with Microsoft, do you deserve $500 million when someone could lead it well for $50 million (or even $5 million)?

And then again, Harvard, of the huge tuition of about $60,000 per semester, also has an endowment of $53 billion. That is not an error or misprint.

Perhaps it's unfair to "blame" these people in any way, and the system has created a vibrant middle class over the years. As many of you do, I pay a large amount in taxes and I am highly philanthropic. But what of money to create an equal and high quality educational system? Or to create equal and high quality medical care for all citizens?

There is something wrong here.

I believe that none of us has the right to consume wealth or happiness without producing wealth and happiness for others. That's not socialism, not capitalism, that's humanity.

SHOW NOTES

Let's stop using inaccurate terms, such as VITO (Very Important Top Officer) or "C-suite," which doesn't actually exist. Let's focus on real buyers. And that also calls for accuracy. A small business owner is a small business owner, not a CEO. That buyer has differing frames of reference and motivation from an executive in a large organization. Trust and credibility are reliant on understanding those distinctions.

Titles are midleading. I've found a lot of vice presidents who can't buy, and a mid-level director who spent $250,000 with me every year for ten years.

Budgets and money are two different things. A true buyer can move money from one budget to another, or create a new budget (especially important since a new client hasn't budgeted for you, someone the buyer didn't know prior, in advance).

You need to convince the true buyer that moving money from an existing budget to you represents a far better ROI. If you can't do that, no one else is going to do it for you.

No one is a buyer who doesn't control money with discretionary purchasing power. "I'm the buyer, but my boss has to approve," is absurd. Move on.

The first sale is to yourself, the second to your client, the third for referrals, and the fourth to building that collection of income into an evergreen relationship.

Always think of the fourth sale first.

Usually found on AM radio, sometimes TV infomercials, sometimes online ads. They involve an "authority" you've never heard of and an interlocutor you've never heard of who's as eager as a puppy, e.g., "Media personality Joe Shmo."

The issue is weight loss, erectile disfunction, leg pain, backaches, congestion, hearing impairment, of any other popular problem. There are "studies" and the suggested approach has been "clinically proved." There are eager customers who evangelize. On TV it says in small print either "hired actor" or "actual patient who is compensated for the appearance."

The sidekick asks all the "deep" questions (How long have you been investigating this?)" and provides all the deep responses (wow, hooooo, impressive!).

Then there are the strange warnings and advisories required by the laws: may cause permanent hearing loss, narcolepsy, kneecap fracture, suicidal tendencies, and urge to commit arson. Do not take if you are allergic to the dug (how would you know?), if you're on drugs in the form of an oval white pill, if you live above 2,000 meters, or have lost your driving privileges in Nebraska, consult your physician first. On TV there are paragraphs of small print on the screen for 3 seconds.

These are present, surpassed only by the obnoxious and slimy personal injury lawyers' ads, which cause you to want to shower immediately after, at huge cost, usually in the hundreds of thousands, sometimes in the millions. That means there's a huge buying potential. People want the magic bullet over the hard work. I had a client who continually asked me how she could make millions and not leave her home. Yet as silly as that is, it's also what a thousand people on social media promise every day.

What is the diabetes drugs which also promise everything from weight loss to hair growth, from virility enhancement to clearer skin, had a longer-term adverse consequence?

- I know what you're thinking: They're tested, there are laws, others are using them, the media approves, even some medical authorities and intermittently supportive or at least passive about them.

-That's what you may be thinking. You know what I'm thinking: The treatment for morning sickness and insomnia, two serious medical issues. The answer was approved and utilized for a decade. It was called Thalidomide.

And today, we actually have an issue with measles because some parents won't vaccinate their kids against it.

One thing medicine in any form can't do is fix "stupid."

Radon is a radioactive gas that has no smell, colour or taste. Radon is produced from the natural radioactive decay of uranium, which is found in all rocks and soils. Radon can also be found in water. Radon escapes from the ground into the air, where it decays and produces further radioactive particles.

Radon from soil gas is the main cause of radon problems. Sometimes radon enters the home through well water. In a small number of hones, the building materials can give off radon, too. However, building materials rarely cause radon problems by themselves.

You can either hire a radon tester or purchase a radon test kit from a hardware store and do it yourself. However, the Environmental Protection Agency (EPA) recommends hiring a qualified tester if you are buying or selling your home. A short-term radon testing kit measures radon for 2-90 days for quick results.

Radon is a naturally occurring, colorless, odorless, radioactive gas. It can seep into homes and other buildings. You're at higher risk for developing lung cancer if you breathe in high levels of radon gas over time (over 4pCi/L or 148 Bq/m3). Tests can measure radon in your home. Mitigation effectively lowers radon to acceptable levels.

For most people, the most likely place you're at risk of being exposed to radon is in your home. The U.S. Environment Protection Agency (EPA) estimates that 1 of every 15 American homes has radon levels above the recommended safety level.

People who work in mines or caverns may also be at higher risk, depending on how many hours a day you're exposed to elevated radon levels. If you smoke and are also exposed to radon, it increases your risk even more.

Radon levels are usually in higher in places that are:

•Closer to the ground, such as basements or underground mines

•Near soil that contains more radioactive metal

•Poorly ventilated

•Processing or storing certain products, such as phosphate fertilizers or uranium

•Very tightly sealed

•Very well-insulated

You can also talk to your child's school about radon levels in school buildings and whether they've had testing. And the U.S. federal government has regulations about radon levels in workplaces. If you're concerned about radon levels where you work, talk to the company's safety officer, or contact the Occupational Safety and Health Administration (OSHA).

"I'm as mad as hell, and I'm not going to take this anymore"

This is a line from the 1976 movie Network. The line is spoken by Howard Beale, a character who is angry about the state of America.

The executive vice president at a huge bank asked where I was from. "So you left that cesspool to move up here," he said. I said, "Why are so many of you so jealous of New York, is it an inferiority complex?" (This guy was later cashiered because of massive sexual harassment charges.)

Then you have the passive-aggressive types: "I assume your daughter's school as her backup school"? "No, but you wouldn't know how good it is because your kids could never get in and you could never pay for it."

My first Ferrari: "Look, you can't afford the insurance and she could never learn to drive it." Three Ferraris later, he put me into the first Bentley sports car for $150,000 to try to buy my good will. I've now had seven Bentley's.

Stop taking crap from people. When the woman in the coffee shop was rude twice in a row, I told the owner, whom I've known since he opened up 20 years ago. "I'll take care of it," he said. She's all peaches and cream now.

Prudence is required. I don't respond to poor driving. I don't want to encourage road rage. But I have taken movies of truck doing 40 on the main street, and a state bus tailgating at six feet behind cars. I received very thankful notes from the trucking company and the Rhode Island transit people. How will they know if no one tells them?

I stop donating to causes that are poorly run, don't conduct quality events, and constantly berate me as if I'm an ATM. I hang up on every phone solicitation. The gym knows that when I'm there, if they can, they don't play rap music featuring the "N-word," or "mother F," or any other Fbomb, or calling women "bitches." That's not a matter of taste. It's revolting. Should they show porn videos on the wall, as well?

I don't try to please other people's accounting departments and their affectations. They don't need a W2 from me, I'm a corporation. I don't send invoices for minor amounts. And I'm on them like the wrath of God if they owe me money past the due date.

And speaking of God: Jesus said to turn the other cheek, but he never said to let them keep hitting you.

Show Notes:

Consider two axes, one or importance (of a job, career, project,

relationship) and the other of courtesy. Thus, we run from unimportant to

important, and rude to polite on the two continua.

If something is important and it is performed with courtesy and

consideration, it is effectively done. Consider the flight attendant ensuring

that seat belts are fastened or the server apologizing for a poorly prepared

meal and quicky replacing it.

If something is relatively unimportant but politely done, it’s a gracious

encounter. This might be the coffee shop worker delivering your order and

thanking you for your business, or someone ahead of you holding a door

and smiling.

When something is important but people are impolite you have a nasty

individual. I’ve met immigration officers who are simply surly and

disrespectful, and bank tellers who ask for identification from people they

already know quite well.

And when something is unimportant and people are rude, you have

malice—someone looking for trouble. These are people who shove you

aside on the sidewalk or who are passive aggressive and try to undermine

you in a chat with others.

It costs nothing to be polite, but it seem that a lot of people see it as too big

of an investment.