Government Imapct

By John Mauldin
Government spending does not have a multiplier effect on the economy. It is at best neutral. What creates growth is private investment, increases in productivity, and increases in population. That's it. Tax increases have a negative multiplier.

My Favorite Books

The Bible (NIV or NASB),
Getting to Yes, Getting Past No,
Winning Teams, Managing Transitions,
Atlas Shrugged, any Heinlein except Job,
My Utmost for His Highest, Herding Cats,
Don't Sing Songs to a Heavy Heart,
Shogun, Whirlwind, Noble House,
Dune, The Foundation Trilogy,
The Five Points of Calvinism,
Practicing the Presence of God,
The Mote in the God's Eye, Godel Escher Bach,
The theory of Games and Economic Behavior,
The Light and the Glory, From Sea to Shining Sea, The Civil War:A Narrative (triology),
Real World Intelligence
The Pyramid Principle
E.M. Bounds on Prayer

My Favorite Movies

Casablanca, Gandhi,
Animal House, Patton,
Honeysuckle Rose, Star Wars I-III,
Apocalypse Now, Sin City,
She Wore a Yellow Ribbon,
The Searchers, African Queen,
In Harm's Way, Streets of Fire,
Gladiator,
Hero (AKA Ying Xiong 2002 in Chinese with English subtitles),
Curse of the Golden Flower
Godfather I+II+III, Lord of the Rings,
Lawrence of Arabia,
All Monty Python, both Blues Brothers,
Casino Royale, Saving Private Ryan,
Big Trouble in Little China,
anything with Diane Lane,
anything with Kathleen Turner,
Once Upon a Time in America,
Mash, Blazing Saddles,
Flashdance, Death Hunt,
Swimming to Cambodia,
Real Genius, Top Gun,
The Man Who Would Be King,
Driving School, Urban Cowboy,
The Name of the Rose, Young Frankenstein,
Witness for the Prosecution (1957)

My Favorite Music

Reveille, First Call, Charge
In My Quiet Room (Harry Belefonte Album )
Beauty and the Beast (Ann Margret / Al Hirt Album)
Teach Me Tiger (April Stevens)
One Trick Pony (Paul Simon)
Rhapsody In Blue
Scheherazade
Gus: The Theatre Cat (Cats!)
Memories (Cats!)
I Don't Know How to Love Him (Jesus Christ Superstar)
Everythings Alright (Jesus Christ Superstar)
Man of La Manca (Linda Eder)
Another Suitcase in Another Hall (Evita; Madonna)
I'd Be Surprisingly Good for You (Evita; Madonna)

One of the root problems

from an opinion article by Phil Kerpen

Published October 22, 2010 in FoxNews.com

Prosperity depends on economic freedom. An abundance of historical and international evidence shows that countries that embrace economic freedom—including labor mobility, free trade, low tax rates, low government spending, and strong property rights—have significantly higher living standards than less free countries.

For the past ten years, the Heritage Foundation and The Wall Street Journal have measured economic freedom and charted the connection between economic freedom and prosperity. In the 2010 edition of their report, they noted: “The positive relationship holds true at all levels of economic freedom but becomes even more dramatic as economic freedom increases.”

10 Tips for Giving an Important Speech

Get ready to fearlessly step onstage in front of a large audience.

By Alyssa Danigelis | Oct 19, 2010

The better part of a million dollars was on the line. Every year the Postcode Lottery Green Challenge in Amsterdam gives away 500,000 Euros for the best idea for a green product or service. In 2008, Eben Bayer and Gavin McIntyre presented their alternative to synthetic building materials.

"In terms of a high pressure talk, that was probably the hardest in my memory," Bayer says. He practiced the talk out loud in front of his computer, making changes to his slides as he went. In the end the talk was a success. Bayer's team won the coveted check.

Since then, Bayer has became CEO of Ecovative Design, a company he co-founded that makes green packaging materials derived from fungi near Troy, New York. He's been invited to give many more speeches, including at the annual Pop!Tech conference in Camden, Maine, and the Technology, Entertainment, Design (TED) conference in Oxford, England.

With self-directed, local "TEDx" talks taking off, more communities will be inviting local innovators to speak. Presenting at this kind of event is an opportunity to capture the energy of a packed auditorium and translate it into a boon for business.

Those preparing for this kind of talk have heard "practice, practice, practice" and "less is more," but there are still speakers who make audience members fight to stay awake. With that in mind, experienced presenters offer these key steps for rallying a large, influential audience of peers around a central idea.

1. Be Your Passionate Self

Audiences are perceptive. They can even sense enthusiasm from back in the nosebleed seats. "Even if you're reading off the slide but you're really excited about it, the audience will give it to you," Bayer says.

Nan Crawford is an executive coach based in the San Francisco Bay Area who primarily works with female leaders on their presentation skills. Crawford coached Elayne Doughty, a psychotherapist who was raising money to go to the Congo and participate in the international V-Day movement to end violence against women and girls. Doughty expected she would need to do several events to raise enough money for the trip, according to Crawford.

"I coached Elayne on her stories," she says. Crawford drew out what had grabbed Doughty about the cause, asking her when and how it had captured her attention. She also framed fundraising as an opportunity to shift away from fear and invite others to invest in a solution.

"She gave an impassioned presentation," Crawford says. At the end of the first event, Doughty surpassed her fundraising goal by 25 percent.

Dig Deeper: The Seven Habits of Highly Effective Presenters

2. Tell a Helpful Story

Speakers are usually advised to try to know their audiences. Taken a step further, Crawford suggests that speakers make sure they understand not only who is in the audience, but also the challenges the audience faces. Then, the talk should address those challenges with a personal and powerful story that resonates.

Daniel Pink, author of the books A Whole New Mind and Drive: The Surprising Truth About What Motivates Us, is a former speechwriter for Al Gore. He says he's seen the opposite happen too many times. "The biggest mistake is people think it's about them rather than about the audience," he says. "They spend too much time talking about themselves."

Instead, an effective presenter will focus on the challenges without giving a laundry list of accomplishments. Anthropologist, filmmaker, and National Geographic explorer Elizabeth Lindsey is frequently invited to speak about leadership through an anthropological lens. "The more we talk about the things that matter to us, and less about our achievements, people breathe a collective sigh of relief," she says. "All of us want to be better. Human nature is always seeking advancement."

Dig Deeper: Get Publicity and Bolster Profits Through Public Speaking

3. Use Fewer Words Than Usual

Less really is more when it comes to big talks. But putting that into practice is far easier said than done. Giving a talk is an opportunity to amplify your message in a way that books and articles can't. Being a different outlet, it has different requirements.

"If all you have for me is information, invite me to buy your book," Crawford says. "But when we stand in front of an audience we have an opportunity to share not just our information but our energy."

For Bayer, seeing how slowly he can give his talk helps him communicate better. "Typically what feels best to the communicator is to give as much information as possible," he says. "But what you really want to do is tell them the idea in a simple way three times or more. If you blast them with detail they get this mushy feeling in their heads."

Pink emphasizes that speaking is a relatively small window, and the audience has a limited attention span. "It's far easier to make seven small points than one big point," he says. "You have to think to yourself, what do you want to leave people with, what do you want them thinking, and what do you want them doing?"

Dig Deeper: Writing and Organizing a Winning Speech

4. Engage the Audience Early

Don't wait for a Q&A at the end to go for audience participation. Start right away, Crawford says. Ask questions so that audience members can stand up instead of raising their hands. Invite them to take a minute, turn to a neighbor, and share a thought. Ask one person to describe theirs.

"Great, how many people share that same concern?" Crawford suggests asking. "Sometimes when you ask that question everyone will stand." Getting responses can help focus a talk, even for an extremely large audience.

Pink describes watching symphony conductor Benjamin Zander give a presentation years ago. "He actually used his piano and brought the audience into the talk, had the audience do things, and made a lot of brilliant points about leadership and humanity," he says. "It wouldn't have been the same if you had read a transcript of it."

5. Make the Stage Home

Get on the stage where the talk is scheduled and practice there as soon as possible, Crawford says. Move around on the stage and go sit in the back row so that the setting becomes familiar.

The organizers will probably want to do a sound check, but see if they will allow it earlier than just a few minutes before the talk. "Even if you can sweet-talk the hotel staff to let you in the night before, that experience of being in the physical space is really important," Crawford says. Walk in as if you're walking into your living room and sitting down on the sofa. Gaining that level of comfort will help calm nerves.

6. Go Beyond Memorization

"A lot of times people look at this and think it's some exalted task with some magic to it," Pink says. "But it's like playing the piano, or laying bricks, or hitting a good tennis serve. It's about knowing what you're doing, doing it for the right reason, and practice, practice, practice."

Bayer practiced what he was going to say in Amsterdam until he could time it down to a second, although he cautions that knowing every line by heart is less important than making sure the message is clear and focused.

"Start developing early," he says. "You don't even have to put slides into PowerPoint, but think early about what it is you want to communicate. You should be able to summarize it in a few words."

Dig Deeper: How to Improve Your Presentation Skills

7. Turn Nervousness Into a Boost

When Crawford coaches speakers who get fluttering stomachs, she asks them to think about their fear in a different way. "There's a physical sensation in our body that's associated with nervousness. The danger is when we think, 'Oh my god, I'm nervous,'" she says.

Call that fluttering something else, she says. Crawford advises her clients to think, "That's the fire in my belly. When I'm done presenting, everyone in this audience is going to have a fire in their belly to make a difference."

Elizabeth Lindsey knows that nervous feeling well. "When we name it, and we speak our truth, we rally," she says. Whenever her heart is pounding through her chest, Lindsey thinks about the elders in her native Hawaii who raised her and didn't have the platform she's been given, she says.

"Even though I'm afraid and even though I feel at times that it would be easier to be in the audience rather than on stage, I know the work that I'm doing is not mine. It's the work that has been given to me," she says.

8. Look With Purpose

Crawford uses her theater background to help clients work on stage presence. In addition to moving around the space and using the whole body to convey the message, she suggests that presenters pay particular attention to their eyes. Instead of "scattering seeds" by scanning one part of the audience and then another, she recommends "planting bulbs."

"I want this idea to bloom in this one person's mind," she says. "Maintain eye contact for one full thought — it might be a phrase within a sentence or two sentences." That eye contact also looks great on camera if the talk is being recorded.

During eye contact with specific audience members, Crawford asks her clients to pay attention to what that person looks like, what they're wearing. A moment ago they were nervous, but as soon as they start describing hair or the color of a shirt, that anxiety level drops, she says.

Dig Deeper: Polishing and Rehearsing for a Perfect Presentation

9. Leverage Fellow Speakers

Look at the roster and reach out to the speakers you're excited about, Crawford says. "You have an opportunity to build that relationship far earlier than people imagine."

Everyone has been invited to talk for a reason, and that can open new doors. Ask the organizers for contact information if you don't have it, Crawford says. Plan to meet interesting speakers for one-on-one time during the conference, whether it's at a dinner or just for a quick conversation.

"If you're sharing the stage you at least have that in common, if nothing else," Crawford says.

And, who knows, maybe knowing your company will only make you feel more comfortable and able.

10. Choose Your Moment to Inspire

Sometimes one has to say no. The idea of presenting should be energizing and enlivening, not draining. Presenters who say yes when they should have declined can cause unnecessary stress for themselves, and for the event organizers.

When the reason is bad timing, offer to present at the next talk well in advance. Sometimes the audience isn't what you're looking for. If you say no, do so candidly, Crawford advises.

"We have this opportunity to spark an idea," she says. "We're lighting fires in the minds of others."

The rewards for a successful talk can be enormous, and not just financial. After giving a presentation once, Lindsey says a woman from the audience approached her. "She said, 'I'm a grandmother and I will never have the opportunity to travel to the parts of the world that you will see, but I want you to know that I go with you wherever you are.'"

Copyright © 2010 Mansueto Ventures LLC. All rights reserved.
Inc.com, 7 World Trade Center, New York, NY 10007-2195.

The Five W's of Marketing

When developing a marketing program, it's not enough to know who, what, when, where, and why. You need to keep them in order, says Steve McKee

By Steve McKee

You've heard of the Five W's: who, what, when, where, and why. They're the elements of information needed to get the full story, whether it's a journalist uncovering a scandal, a detective investigating a crime, or a customer service representative trying to resolve a complaint. There's even an old PR formula that uses the Five W's as a template for how to write a news release.

Most of the time it doesn't matter in what order the information is gathered, as long as all five W's are ultimately addressed. The customer service rep's story may begin with who was offended, while the journalist may follow a lead based on what happened. The detective may start with where a crime was committed while details of who and what (not to mention when and why) are still sketchy.

The Five W's are helpful in marketing planning as well. But unlike in other professions, the development of an effective marketing program requires that they be answered in a specific order: why, who, what, where, and when. The reasons may not be obvious, but by following this pathway you can avoid a great deal of confusion, trial and error, and blind alleys, preserving your company's precious time and resources.

Many marketers instinctively begin with questions about what and where, as in "what" their advertising should say or "where" it should appear. That's what gets them into trouble. They may have some success putting their plans together by relying on intuition and experience, but both can be misleading in a rapidly changing marketing world. These days it's easy for anyone to become confused by (or fall prey to) the latest and greatest trends and tactics.

First, Why Marketing?

Smart companies begin by asking "why"—why are we expending our limited resources in marketing? Why do we believe they're better invested here than in other aspects of our business? These questions, properly considered, force company leaders to clearly define their business and marketing objectives and confront their (often unrealized) assumptions before they get too far down the road.

In some cases they may have unrealistic expectations of their marketing efforts. In others, they may be looking to advertising to solve a non-advertising problem. In still others they may be reflexively reacting to a competitor's moves, or to any one of a number of other marketplace or internal dynamics (see "Who's to Blame When Growth Stalls?"). Beginning with the "why" can be challenging, but starting here is critical to ensuring that your subsequent efforts are on target.

The second question is "who"—who is essential to our achieving our goals? To whom should we be directing our message? Whose hearts and minds must we win in order to succeed? The answers to these questions should be derived from the business objectives identified above so that the target audience(s) for your effort are clearly related to them.

For example, a marketing plan meant to generate significant new top-line revenue would likely focus on new customer attraction. An effort that's meant to enhance margins may concentrate on improving your brand's value equation among existing customers. And a plan to enhance your company's price/earnings ratio would focus on prospective investors and industry analysts as its primary target. The better any company defines its "who"—and the more it can know about their lifestyles, behaviors, attitudes, opinions, wants, and needs—the more effectively it can address the remaining three W's.

Branding Issues

Next comes "what," as in what it is you need to offer your target audiences in order to accomplish your objectives. This, of course, encompasses a host of business decisions, from product to pricing, policy to packaging, and everything in between. But it is also where key branding issues are addressed, including positioning, differentiation, and a determination of the personality dimensions that are appropriate for both the brand and the task (see "Building a Better Brand").

To be sure, as market conditions and customer needs change, the "what" of your offering will be a continually evolving proposition. But by having a solid understanding of the "who" and "why" of your efforts, you'll be more likely to get, and keep, the "what" right.

Finally, the last two W's can be addressed as you dive into the specifics of campaign planning. The questions now revolve around where and when the best places and times are to communicate your "what" to your "who" in service of your "why." At this stage you'll be required to make many tactical decisions, but if you've effectively addressed the first three W's you'll have the context and perspective you need to make the final two work as hard as possible on your behalf.

In some ways the principles of marketing are simple, but their simplicity can be deceptive. Beneath them often lie hidden complexities that you ignore at your peril. The common way of citing the Five W's—who, what, when, where, and why—rolls off the tongue and is a great mnemonic device. But if you want to optimize your marketing efforts, think why, who, what, where, and when. The order makes all the difference.

Steve McKee is president of McKee Wallwork Cleveland and author of When Growth Stalls: How It Happens, Why You're Stuck, and What to Do About It. Find him on Twitter and LinkedIn.

Sad, But True

Guy goes into a bar, there's a robot bartender.

The robot says, "What will you have?"
The guy says, "Martini."
The robot brings back the best martini ever and says to the man, What's your IQ?"
The guy says, "168."
The robot then proceeds to talk about physics,
space exploration and medical technology.

The guy leaves, but he is curious...
So he goes back into the bar.
The robot bartender says, "What will you have?"
The guy says, "Martini."
Again, the robot makes a great martini gives it to the man and says, "What's your IQ?"
The guy says, "100."
The robot then starts to talk about Nascar, Budweiser and John Deere tractors.

The guy leaves, but finds it very interesting,
so he thinks he will try it one more time.
He goes back into the bar.
The robot says, "What will you have?"
The guy says, "Martini," and the robot brings him another great martini.
The robot then says, "What's your IQ?"
The guy says, "Uh, about 60."
The robot leans in real close and says,
"So, you people still happy you voted for Obama?"