#management

Recognize Failure and Avoid the Sunk Cost Fallacy:
There's no shame in shooting for the moon and missing

Failing fast is one of the most overworked business tropes. The underlying motivation is for companies to take big risks with immense potential payoffs. To fail fast, the company must put sensors in place to recognize early if the risky move is panning out and worth continuing.  In comparative mythology, the hero’s journey requires the protagonist to face and overcome adversity before they become worthy of winning. Biographers of business… Read More »Recognize Failure and Avoid the Sunk Cost Fallacy:
There's no shame in shooting for the moon and missing

Boxers fighting in the ring

Listen to Mike Tyson and Avoid These 5 Project Planning Pitfalls:
The best-laid plans go so easily awry

As Mike Tyson so eloquently stated, “Everyone has a plan until they get punched in the face.” Iron Mike’s subtext is that, when faced with obstacles, even the best-laid plans go to hell.  Zigging and zagging become easier when a team is unencumbered by grandiose long-term plans. Here are some ideas about how to keep project plans achievable and maintain your sanity in the process. 1. Know thy business If you… Read More »Listen to Mike Tyson and Avoid These 5 Project Planning Pitfalls:
The best-laid plans go so easily awry

Ten New Professionally Relevant Nonfiction Books:
Business and life lessons in peculiar places

It delights me when a nonfiction book I read for pleasure and not work unexpectedly provides professional insights. It’s a double whammy. Sure, I can learn the lingua franca of technology management by reading business bestsellers like Good to Great (Hedgehog concept) or The Lean Startup (Build-Measure-Learn-Pivot concept). Often, however, books not classified as “business” yield the sweetest and rarest inspirational nuggets. I chose each nonfiction book on the following… Read More »Ten New Professionally Relevant Nonfiction Books:
Business and life lessons in peculiar places

Management Lessons from Honest Abe

Our forefathers have plenty of sound advice that’s easily applied to business. Doris Kearns Goodwin’s 2005 historical tome, “Team of Rivals” is about Abraham Lincoln’s presidency. She centers her narrative around Lincoln’s decision to bring his three vanquished presidential competitors (William Henry Seward, Salmon Chase, and Edward Bates) and others who opposed him into his Cabinet. History is rife with lessons applicable to all walks of life but, sadly, it’s… Read More »Management Lessons from Honest Abe