Benefits of Age

America is a youth culture. Youth is revered and celebrated. Young “Influencers” are the rage to follow. Celebrities tend to be young and beautiful.

Youth is an advantage for creativity and strength. Young inventors and scientists often make impressive leaps of thought. Experienced inventors and scientists combine ideas and processes in new ways. 

Most people start careers with hard physical work. As we gain experience we use our minds more than strength. 

Benefits of Age:

• Comfortable in and knowledgeable with the world
• Patience with process - not much is accomplished in 3 months, but amazing what can be done in 10 years
• Switch from Task to Relationship modes depending on situations
• Relate better with more diverse people
• More empathy due to experiences
• Enjoy other people’s success as much as our own
• Manage health better (but more to manage)
• Faith is stronger and based on experiences

Do you see young inexperienced graduates leading teams or large corporations? No. They have not developed skills to lead people, resolve issues, or experiences to draw on. Encourage your coworkers to develop creative and leadership skills. 

After all we were younger and needed guidance, encouragement and confidence to flourish.  

 “When setting out on a journey, do not seek advice from someone who has never left home.” ~ Rumi

Strategy for China Trade War

No quick resolution for Trade Dispute with China is coming soon. Neither side is backing down and tariffs (taxes) may expand to Europe in the future.

What can your businesses do with a supply chains in China? 

Start evaluating your future profit potential for products: Not every product needs to be relocated. Your growth lines need to be addressed while cash cow products with limited future may remain untouched. Your options:

Split Production: Leave existing production lines to service China and Europe, and move production for USA to North, Central or South America. Savings from shipping and carrying cost of inventory mitigate costs of separate production lines. 

Redesign new models to manufacture in new locations: New products generate more sales and profits. Why move old tools and machinery to a new location? Redesigned products often cost less and be differentiated for higher margin markets. Combine functions on one computer chip, mold parts, additive manufacture, and design for automation to reduce labor.

Raise your prices: Cost of production does not relate to how much products sell for. Spend more on marketing to improve branding and customer awareness. Consumer choice is emotional, not based on lowest cost. Consumers know prices are going up and will be less resistant. Profits will fund your changes.

The worst strategy is to be frozen. Explore your options and prioritize your investments.

Lifetime Learning and Curiosity Required

“In a time of drastic change it is the learners who inherit the future. The learned usually find themselves equipped to live in a world that no longer exists.” 

- Eric Hoffer, Author The Ordeal of Change (1963) & The True Believer (1951)

No education has ever been complete out of school.  New tools, material and processes improve any service or product. Competition forces businesses to lower costs every year. ~25% of today’s jobs did not exist 10 years ago.

Words are added every year, over 640 to Merriam-Webster dictionary. New meanings are given to old words. Qubit, Geosmin, or Bioabsorbable anyone?

There are more books written every day. New research daily. Ideas are promoted or disproved. Politics and the times change the way we look at things.

Technology is rapidly changing our work. Smart phones, 3D printers, advances in programming, modeling software, virtual training and business practices advance every year.

Be curious. Tomorrow will be different than today. People grow and change. Everyday I try to learn something new or stretch knowledge some way. What are you going to learn today?