The economy – maple icing or just thin ice

Travel has a way of broadening perspectives and this week I have been in Canada again, at the RMA conference in Niagara Falls, where I have been generally eating too many burgers, drinking too much coffee and wondering where the vegetables have gone from my diet… all this in addition to chatting about the Canadian economic landscape and what people think will happen in the new year. Of course, some things are different but what was surprising was just how familiar the whole conversation and themes felt too.

So here are my key takeaways and observations from the week.

  1. Economic Pressures Mirroring… well everywhere else: Just like elsewhere Canadian consumers are grappling with inflation and rising energy costs. This financial squeeze is starting to bite, with the burden heavier in some sectors.
  2. Resilience in the Face of Adversity: Despite these challenges, Canadians are absorbing these costs and persevering. However, there is a sense that the pressure is mounting, with an undercurrent of concern around sustainability.
  3. Digital Adoption – A Slow March: Interestingly, while consumers are enthusiastic about digital servicing, such as contactless payment and services like Uber, it feels like mainstream adoption in business processes is lagging behind. Canada’s pace feels like it is trailing behind Europe and is significantly slower than Asia.
  4. Somber Outlook for Credit Risk and Collections: Professionals in this sector aren’t exactly known for their optimism, and this conference was no exception. A significant majority anticipate a recession in the coming year… okay we have said this for the last 3 years, but this time it is really going to happen… although I do agree too.
  5. Unchanging Human Elements: Despite the buzz around digitalisation and automation, certain human needs still remain constant. The need for food, social interactions, and the pursuit of improvement of quality of life really haven’t fundamentally changed… ever. Some things never change I suppose… this will also be true in areas such as customer financial difficulty and vulnerability… and area also discussed.
  6. Pace of Change – A North American Snapshot: A comment from the conference also shed light on the varying speeds of business across North America. Silicon Valley leads, rapid decision-making apparently, followed by New York and with Toronto unfortunately trailing. It really made me think about the importance of this to foster growth and innovation. Speed of decision and action could be a proxy measure and an interesting objective in itself… one to think about.
  7. Rethinking Leadership: Also an interesting comment on the need for leaders to listen more and speak last. There is value in team discussions, feedback, and collaborative problem-solving… and by speaking last you get to let this conversation run enhancing creativity and the decision-making processes.

… and lastly I have quite a few really good cups of coffee too (not Tim’s… sorry)

So there is a little more on the economic outlook in my write-up here… but I also saw some cool tech too, so watch out for this soon.

Have a good week everyone.

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The Dancing Team

Last week, I made the journey down to London to see ABBA Voyage.

Beyond the music, which was a lot of fun, the staging and the show were outstanding… world-class, in fact… they threw everything at it. What made it so good… it was the little things.

  • Avatars casting a shadow on the floor
  • Adding real musicians to the set, giving that organic ‘live’ music feel
  • Stage lighting and effects that moved and extended out from the stage throughout the audience and back again
  • Virtual band members speaking to the audience just like a real show, dropping in local references
  • The whoops, calls, and applause back from the audience to the stage

It was all a stunning attention to detail, rewarded by the whole audience forgetting it was not really live, leaping to their feet, singing and dancing to the biggest hits… I had a great time.

Setting Ambitious Goals

Such ambition and commitment to delivering a high-quality output is fantastic to see and made me reflect.

It got me thinking about how they must have had some really ambitious goal-setting sessions, along with what must have seemed like an almost infinite set of “what if” discussions, “how can we improve,” and “let’s make it even better” iterations, to achieve such a high-quality output.

Back in the corporate world, typically these goal-setting sessions can be a fraught process.

Businesses tend to want higher performance each year, setting stretch, and super-stretch goals to get results. These are often handed out from high, cascaded down through the organization, to be met with a few ‘how can we do this’ grumbles, followed by begrudging acceptance and becoming your written objectives for the year.

Employees, however, may actually want something completely different… a sense of mastery in the job, new skills, maybe the bonus, but most certainly to keep their job.

Yes, they may say they have bought into the objectives set… but have they really… Or is there actually an off-the-books hidden set of objectives they have? When these diverge, you can get to see problems. When they align amazing things are possible.

The Venn Diagram

It seems we need to be better at finding this sweet spot, the intersection in the Venn diagram between corporate and personal objectives, to be really successful.

All too often, it is easy to be off-center, going through the motions, not listening or being transparent, and missing the opportunity to unlock the full potential within our teams. This can restrict our ability, unlike at ABBA Voyage, to achieve the extraordinary.

So maybe this year, it is time to remove the fear of failure, listen carefully, and find the sweet spot between business and personal growth… set ambitious goals and, of course then, iterate the heck out of it.

I mean who would not look back after working on something amazing and not enjoy saying proudly… “I worked on that”… Food for thought this year end.

Have a good rest of the week, everyone.

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Be more dog… or more cat?

It is an age-old icebreaker question, one that is safe to discuss (unlike sport and certainly politics) and almost as classic as discussing the weather: ‘Are you a dog person or a cat person?’

Most people seem to identify with one or the other, and definitively too. ‘I’m totally a dog person; I can’t stand cats,’ or just simply, ‘I’m a cat person,’ as they snootily look down on all dog people as somewhat inferior.

Can this seemingly innocent question reveal insights into our personalities? Are our preferences for dogs or cats reflective of our inner selves?… and are dog people and cat people even different anyway?

Raining Cats and Dogs

Let’s consider dogs… they are the perpetual optimists of the animal kingdom. Often a bundle of joy, always ready for action, pleased to see you, and displaying what is an infectious zest for life. Sure, they may have the emotional range of a teaspoon and not be the ‘sharpest tool in the shed,’ but what does it matter when you’ve got a ball, all the food you can eat, and the prospect of a biscuit every time the human has a cup of tea? Dogs, it seems, live in the moment and are eminently likeable as a result.

Now let’s take a look at cats… in the world of pets, they are its philosophers and politicians, it seems. Often aloof, seemingly perpetually preoccupied with thoughts of their next meal, and showing affection on their own terms (or to get something in return). Any demand to know your whereabouts is not out of concern, of course, but because they need something from you, like opening the door for them or making them a meal. As they say, ‘dogs have owners, and cats have staff’.

Yet, while dogs are always friendly and welcoming, dog people really dislike cats… however, self-proclaimed cat people, whose pets wouldn’t cross the road to say hello, rarely seem to express disdain for dogs. Why is this?

Are cat people inherently kinder, or do dog folks harbour some deep-seated resentment and animosity towards cats?… Is Clifford the Big Red Dog a source of childhood trauma, or is it envy in later life towards their carefree, cat-loving friends, going away at the weekends… or maybe just the sheer exhaustion from those rainy, 4 AM dog walks? Who knows!

Dogs vs Cats vs Humans

Taking a step back, we humans do seem to almost universally admire dog-like qualities – optimism, loyalty, and supportiveness. They are behaviours we value, cherish, and like to have around us, and seek in others, including at work.

Yet, in the hustle and bustle of modern life, what are the behaviours we tend to incentivise and observe in success? It can have a distinctly feline flavour. Outwardly friendly, with a focused (underlying) agenda – concentrating on our needs, desires, and ambitions first rather than those of the pack. Social, yes, but on our terms, much like our furry, whiskered friends.

Throw me a bone here

Now we may all identify as either a dog person or a cat person, but in reality, we are all the same… human… And as humans, it does seem we are trending to behave increasingly more like cats than we like to admit while all the time aspiring to be more like dogs. There is some contradiction or dissonance here it feels.

So this is my manifesto of the week (and next)… to try to emulate a little more ‘dog-like’ qualities… with friends, family, and colleagues. Hopefully, it can generate a little more goodwill, optimism, and trust all around… and who knows, I may get an extra couple of biscuits.

Have a good rest of the week and weekend, everyone

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