How to Ensure Your Team Gets It

How to Ensure Your Team Gets It

It had been a long night…and morning…and afternoon at the airport.

The kind where cancellations and delays compound into a complex verb of frustration that includes four letters. The kind where you start to notice the characters around you and make up their stories.

I had pegged the guy next to me for a Baptist preacher. Among other signs, it was HOW he earnestly offered to watch my stuff as I went to the bathroom, “Ma’am I’ve been watching ladies purses for decades. I watch my wife’s purse. I watch my girl’s purses. I watch my wife’s friend’s friends purses. So whatever you need. I’m your purse watching man.”

And I trusted him.

He was on the phone when I came back from the bathroom. He silently nodded and grinned toward my big red purse which also serves as a computer bag, dongle carrier, journal holder, with nooks and crannies for light snacks and kombucha.

Nope, definitely not Baptist preacher–bankruptcy lawyer. Now I’m intrigued and can’t help but overhear his conversation occurring in such a beautiful Southern drawl it would have been fun to hear, even if I couldn’t understand the words.

“Now my wife says I hear okay, but I doooon’t listen tooooo gooood. Let me repeat back what I’m hearing you say you want to do.”  

Silence as the caller responds. Then…

“You see sir, my wife is right. That is just NOT one of the options. Let me be clear. You CAAAAN’T do THAAAT. How about this? Let me share with you your three options again.”

Gives three options. Then…

“You sleep on it.  Call your Momma or talk to your wife…and then we’ll talk again tomorrow.”

I’m beside myself. This is the most remarkable Winning Well check for understanding I’ve ever heard. Full-on confident humility.


“Sir, Thank so much for watching my bag, and indeed you are a remarkable purse watcher. AND I couldn’t help but to overhear…What you did there was brilliant.

You see I wrote this book… and my co-author (now fiance, but that’s another story) and I had this remarkable disagreement about whether the ‘check for understanding’ should be included. I thought it was too simple. He swore it was a vital concept. As we’ve been doing workshops, guess what’s one of the top 10 take-aways?

The funny part is, the higher the managers  are in the organization, the more they love it.

It’s so easy.  

‘Do a simple check to understand…are they picking up what you’re putting down?’

Instead of  ‘Any questions?’ or ‘Are you with me?’ You ask… ‘Okay, so I just want to check to ensure we’re all on the same page…’ and then get them to repeat back. ‘What are we going to do first? And then? By when?’ “

He shared, “Karin, I’ve been doing this for years. When people are going through bankruptcy they hear what they want to–not necessary what’s true. I give them a way to hear it again.”

Amen.

There’s real power in hearing what your team hears.

Karin Hurt
Leadership
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As a keynote speaker, leadership consultant, and MBA professor, Karin helps leaders improve business results by building deeper trust and connection with their teams. A former ... Click for full bio

Here’s Why Bitcoin Won’t Replace Gold So Easily

Here’s Why Bitcoin Won’t Replace Gold So Easily

What a week it was.

First and foremost, I’d like to acknowledge the horrific mass shooting that occurred in Las Vegas, the deadliest in modern American history. On behalf of everyone at U.S. Global Investors, I extend my sincerest and most heartfelt condolences to the victims and their families.

The memory of the shooting was still fresh in people’s minds during last Tuesday’s Hollywood premiere of Blade Runner 2049, which nixed the usual red carpet and other glitz in light of the tragedy. Before the film, producers shared poignant words, saying that in times such as these, the arts are crucial now more than ever.

I had the distinct privilege to attend the premiere. My good friend Frank Giustra, whose production company Thunderbird Entertainment owns a stake in the Blade Runner franchise, was kind enough to invite me along. Despite the somber mood—a pivotal scene in the film even takes place in an irradiated Las Vegas—I thought Blade Runner 2049 was spectacular. Even if you’re not a fan of the original 1982 film, it’s still worth experiencing in theaters. Hans Zimmer and Benjamin Wallfisch’s synth-heavy score is especially haunting.

CNET recently published an interesting piece examining the accuracy of future tech as depicted in the original Blade Runner, from androids to flying cars to off-world travel read the article here.

Still in the Early Innings of Cryptocurrencies
 

Speaking of the future, I spoke on the topic of the blockchain last week at the Subscriber Investment Summit in Vancouver. My presentation focused on the future of mining—not just of gold and precious metals but also cryptocurrencies.

Believe it or not, there are upwards of 2,100 digital currencies being traded in the world right now, with a combined market cap of nearly $150 billion, according to Coinranking.com.

Obviously not all of these cryptos will survive. We’re still in the early innings. Last month I compared this exciting new digital world to the earliest days of the dotcom era, and just as there were winners and losers then, so too will there be winners and losers today. Although bitcoin and Ethereum appear to be the frontrunners right now, recall that only 20 years ago AOL and Yahoo! were poised to dominate the internet. How times have changed!

It will be interesting to see which coins emerge as the “Amazon” and “Google” of cryptocurrencies.

For now, Ethereum has some huge backers. The Enterprise Ethereum Alliance (EEA), according to its website, seeks to “learn from and build upon the only smart contract supporting blockchain currently running in real-world production—Ethereum.” The EEA includes several big-name financial and tech firms such as Credit Suisse, Intel, Microsoft and JPMorgan Chase, whose own CEO, Jamie Dimon, knocked cryptos a couple of weeks ago.

To learn more about the blockchain and cryptocurrencies, watch this engaging two-minute video.

Understanding blockchain in two minutes

Will Bitcoin Replace Gold?
 

Lately I’ve been seeing more and more headlines asking whether cryptos are “killing” gold. Would the gold price be higher today if massive amounts of money weren’t flowing into bitcoin? Both assets, after all, are sometimes favored as safe havens. They’re decentralized and accepted all over the world, 24 hours a day. Transactions are anonymous. Supply is limited.

Have gold and bitcoin peaked for 2017

But I don’t think for a second that cryptocurrencies will ever replace gold, for a number of reasons. For one, cryptos are strictly forms of currency, whereas gold has many other time-tested applications, from jewelry to dentistry to electronics.

Unlike cryptos, gold doesn’t require electricity to trade. This makes it especially useful in situations such as hurricane-ravished Puerto Rico, where 95 percent of people are reportedly still without power. Right now the island’s economy is cash-only. If you have gold jewelry or coins, they can be converted into cash—all without electricity or WiFi.

Finally, gold remains one of the most liquid assets, traded daily in well-established exchanges all around the globe. Every day, some £13.8 billion, or $18 billion, worth of physical gold are traded in London alone, according to the London Bullion Market Association (LBMA). The cryptocurrency market, although expanding rapidly, is not quite there yet.

I will admit, though, that bitcoin is energizing some investors, especially millennials, in ways that gold might have a hard time doing. The proof is all over the internet. You can find a number of TED Talks on bitcoin, cryptocurrencies and the blockchain, but to my knowledge, none is available on gold investing. YouTube is likewise bursting at the seams with videos on cryptos.

Bitcoin is up 350 percent for the year, Ethereum an unbelievable 3,600 percent. Gold, meanwhile, is up around 10 percent. Producers, as measured by the NYSE Arca Gold Miners Index, have gained 11.5 percent in 2017, 23 percent since its 52-week low in December 2016.

Related: Gold and Bitcoin Surge on North Korea Fears

Look Past the Negativity to Find the Good News
 

The news is filled with negative headlines, and sometimes it’s challenging to stay positive. Take Friday’s jobs report. It showed that the U.S. lost 33,000 jobs in September, the first month in seven years that this happened. A weak report was expected because of Hurricane Irma, but no one could have guessed the losses would be this deep.

The jobs report wasn’t all bad news, however. For one, the decline is very likely temporary. Beyond that, a record 4.88 million Americans who were previously sitting out of the labor force found work last month. This helped the unemployment rate fall to 4.2 percent, a 16-year low.

Have gold and bitcoin peaked for 2017

There’s more that supports a stronger U.S. economy. As I shared with you last week, the Manufacturing ISM Purchasing Managers’ Index (PMI) rose to a 13-year high in September, indicating rapid expansion in the manufacturing industry. Factory orders were up during the month. Auto sales were up. Oil has stayed in the relatively low $50-a-barrel range, which is good for transportation and industrials, especially airlines. Small-cap stocks, as measured by the Russell 2000 Index, continue to climb above their 50-day and 200-day moving averages as excitement over tax reform intensifies.

These are among the reasons why I remain bullish.

One final note: Speaking on tax reform, Warren Buffett told CNBC last week that he’s waiting to sell assets until he knows the plan will go through. “I would feel kind of silly if I realized $1 billion worth of gains and paid $350 million in tax on it if I just waited a few months and would have paid $250 million,” he said.

It’s a fair comment, and I imagine other like-minded, forward-thinking investors, buyers and sellers will also wait to make huge transactions if they can help it. Tax reform isn’t a done deal, but I think it has a much better chance of being signed into law than a health care overhaul.

Frank Holmes
Global
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Frank Holmes is the CEO and Chief Investment Officer of U.S. Global Investors. Mr. Holmes purchased a controlling interest in U.S. Global Investors in 1989 and became the firm ... Click for full bio