Welcome to IGW Insights Issue 18!
The legendary economist Thomas Sowell wrote, “there are no solutions, only trade-offs.” He’s referring to public policy and is making the argument that when politicians present solutions to societal problems, we citizens should be poking around for what it is going to cost and who is going to pay because the politician is unlikely to be transparent about the trade-offs.
But the trade-offs are inevitable. For every proposed “solution” there is always a cost and someone always pays.
Business leaders know this intuitively because part of their job is weighing the needs of the organization against the needs of individuals. When the organization gets what it demands, there is always a cost and someone always pays.
What does this do to you, as the leader? Continue reading here.
Recommended Reading and Listening
How Whole Foods Revolutionized American Eating Habits is an episode of the Honestly podcast from The Free Press. It popped up on my feed about two weeks ago, and as I was writing this newsletter it seemed to complement. John Mackey is such a refreshing voice in business. He takes a stand for capitalism and acknowledges that business creation has a mysterious quality to it because the entrepreneur is creating something that never existed before. That unknown requires leaders to handle decisions in the face of profound trade-offs. In the newsletter, I confront the potential loneliness of those decisions. Nestled in this excellent interview with a legendary business founder is a potential pathway for ameliorating some of the loneliness and putting relationships first while still confronting core decisions for the business. Worth a listen.
Journaling Exercise
What core business decision am I delaying because I’m afraid of how it will impact relationships? Assess the trade-offs: What do I gain by delaying these decisions? What do I lose? What would I gain by making this decision now? What would I lose? How can I make the right decision for the business while managing relationships in accordance with my values?
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Onward and upward,
Dan Weiss, CEO
