Marketing Management Quotes

Doing business without advertising is like winking at a girl in the dark. You know what you are doing but nobody else does.

Marketing is a race without a finishing line

There is too much negativity in the world. Do your best to make sure you aren't contributing to it.

A perfect website with perfect marketing but bad financial management can fail, similarly a perfect product with a perfect website but a bad customer management strategy can fail.

School management can impress parents with their fancy infrastructure, but students have to spend more time there than their parents.

Not even the most heavily-armed police state can exert brute force to all of its citizens all of the time. Meme management is so much subtler; the rose-tinted refraction of perceived reality, the contagious fear of threatening alternatives.

If you are trying to open a restaurant in a place where the majority of people are the practitioners of Judaism faith, then you cannot make a non-Kosher restaurant and still hope to gain popularity.

Disruptive technologies typically enable new markets to emerge.

What you post online speaks VOLUME about who you really are. POST with intention. REPOST with caution.

disruptive technology should be framed as a marketing challenge, not a technological one.

Return on Investment should be holistic.

The marketing department uses many advanced techniques to match products and buyers in a way that mximizes profits. For example, they give away keychains.

Social media takes time and careful, strategic thought. It doesn’t happen by accident.

The beauty myth sets it up this way: A high rating as an art object is the most valuable tribute a woman can exact from her lover. If he appreciates her face and body because it is hers, that is next to worthless. It is very neat: The myth contrives to make women offend men by scrutinizing honest appreciation when they give it; it can make men offend women merely by giving them honest appreciation. It can manage to contaminate the sentence "You're beautiful," which is next to "I love you" in expressing a bond of regard between a woman and a man. A man cannot tell a woman that he loves to look at her without risking making her unhappy. If he never tells her, she is destined to be unhappy. And the "luckiest" woman of all, told she is loved because she's "beautiful," is often tormented because she lacks the security of being desired because she looks like who she lovably is.

Even more money is transferred to the bank accounts of fashion designers, gym managers, dieticians, cosmeticians and plastic surgeons, who help us arrive at the café looking as similar as possible to the market’s ideal of beauty.

Be creative while inventing ideas, but be disciplined while implementing them.

Markets are actually set up so that most traders must lose money

Efficient supply chain management is essential for individual businesses, specific markets, and for the economy as a whole - especially when we're talking about Permaculture Economics. A global economy where products and services are moved from source to destination with maximum efficiency.... That's a win for everyone.

Good decision-making is based on access to the correct information at the right time.

Those who build great companies understand that the ultimate throttle on growth for any great company is not markets, or technology, or competition, or products. It is one thing above all others: the ability to get and keep enough of the right people. The management team

Amazon is a great case study for how a company can reimagine it's role in an economy and also through it's use of imagination, be a driving force in the recreation of an economy.

Business growth opportunities are disguised in trends. If we identify a trend at the right time, we can become huge.

When we master customer behavior and are able to offer them exactly what they want, we can achieve the biggest business opportunities.

Making the right decision at the right time is what sets a successful entrepreneur apart from the others.

Keep learning more and more about your customers, your competitors, your brand, your target market, and business opportunities.

Two things happen when your objectives are too broad—you don’t achieve the right results and you lose a lot of your resources. You want to avoid both of those.

If your objectives are too broad, they can dilute your project.

Discovering a cure for a disease is one thing, but making that cure available to everyone so it can actually be used to eradicate the problem is another thing.

Mayflower-Plymouth will be the largest Capital Management Company in the world by 2040.

Defining a good project is dependent on how well you can define your needs. The better you specify your requirements, the better the results of a project are going to be.

Exploratory market research is generally preferred in the early stages of a project when you are more interested in exploring a subject.

Interviews are a qualitative form of collecting data. The reason it generates good responses is because it’s way more personal than other forms of data gathering techniques.

Your current marketing plan, strategy, and research objective are also going to play an important role in defining your sample size.

Quantitative market research deals with collecting and analyzing numerical data to describe or predict the variables of your interest.

A well-planned budget will save you from any kind of unexpected surprises.

When you want to learn something in detail, you do descriptive research.

Qualitative research is about collecting and understanding non-numerical data. It’s about how humans think, perceive, or give meaning to a thing based on various stimuli.

Decide your objectives and make somebody responsible to implement the results for the growth of the business.

Maybe in your personal life you can go on an unplanned trip and rejoice later for it being the best trip of all time but it might not prove the same for your business.

It can also be analyzed that even an unplanned trip has a lot of planning hidden in it.

A few years ago, for instance, the AARP asked some lawyers if they would offer less expensive services to needy retirees, at something like $30 an hour. The lawyers said no. Then the program manager from AARP had a brilliant idea: he asked the lawyers if they would offer free services to needy retirees. Overwhelmingly, the lawyers said yes. What was going on here? How could zero dollars be more attractive than $30? When money was mentioned, the lawyers used market norms and found the offer lacking, relative to their market salary. When no money was mentioned they used social norms and were willing to volunteer their time. Why didn’t they just accept the $30, thinking of themselves as volunteers who received $30? Because once market norms enter our considerations, the social norms depart.

In current times, we have access to so much data. Having said that, data analysis can uncover so many hidden patterns about customer behavior and how they interact with various products.

A market research plan should include all the essential information about your current research project. In addition, remember to keep your plan short and include only the most important information there.

Many research organizations are regularly studying the market and publishing their results in the form of various reports and case studies. You can study these reports to get an understanding of your issue.

And that is what is behind the abrupt rise in climate change denial among hardcore conservatives: they have come to understand that as soon as they admit that climate change is real, they will lose the central ideological battle of our time—whether we need to plan and manage our societies to reflect our goals and values, or whether that task can be left to the magic of the market.

At the heart of all sales and marketing is the ability to create demand even in the absence of logic.

I know their unstinted devotion to the free-market economy, provided it's their freedom and somebody else's economy.

In Financial markets, trust is imperative.

For your business to stand out and succeed, you have to put a primary focus on the social media space, go in big (halfway will not do), and do it better than most, right from the start.

The techniques that worked so extraordinarily well when applied to sustaining technologies, however, clearly failed badly when applied to markets or applications that did not yet exist.

If the research is done for brand awareness and the results don't show any rosy picture, then maybe you want to share those results with your marketing head who can include more brand awareness strategies in her marketing plan.

You can't rely on others—especially your managers and clients—to engage your strengths. In an ideal world, managers would constantly be thinking about how to best utilize their people—and clients would always unearth your greatest potential. Unfortunately, the reality is that bosses and clients are as worried about their own careers as you are about your own. You must take the task of marketing your strengths into your own hands.

First, disruptive products are simpler and cheaper; they generally promise lower margins, not greater profits. Second, disruptive technologies typically are first commercialized in emerging or insignificant markets. And third, leading firms’ most profitable customers generally don’t want, and indeed initially can’t use, products based on disruptive technologies.

Markets need a fresh supply of losers just as builders of the ancient pyramids needed a fresh supply of slaves. Losers bring money into the markets, which is necessary for the prosperity of the trading industry.

More fundamentally than any of this, though, is their deep fear that if the free market system really has set in motion physical and chemical processes that, if allowed to continue unchecked, threaten large parts of humanity at an existential level, then their entire crusade to morally redeem capitalism has been for naught. With stakes like these, clearly greed is not so very good after all. And that is what is behind the abrupt rise in climate change denial among hardcore conservatives: they have come to understand that as soon as they admit that climate change is real, they will lose the central ideological battle of our time—whether we need to plan and manage our societies to reflect our goals and values, or whether that task can be left to the magic of the market.

It’s April 2006. It’s a Saturday. I’m walking through a market in Seoul, Korea, having a very public screaming match with a young Chinese-Korean woman whom I have recently promoted to Asia-Pacific Regional Manager. Despite the promotion, she is not happy. I think she wants my job. Right now, I’d happily give it to her if it would shut her up and calm me down. If I’d wanted a screaming match, I could have stayed at home; no, correct that, I’ve never had a domestic dispute as loud and unpleasant as this is turning out to be.

The truth is that banks are the last feudal kingdoms, their rulers omnipotent, divine warlords. Their key lieutenants are 'ronin' (wandering mercenary samurai) who roam financial markets ready to ally themselves to any warlord for a share of plunder. This is not the place to apply the latest management theory.

I don't put my ideas in a meeting for acceptance or rejection, I put them in the market for success or failure.

An astute trader aims to enter the market during quiet times and take profits during wild times.

The idealized market was supposed to deliver ‘friction free’ exchanges, in which the desires of consumers would be met directly, without the need for intervention or mediation by regulatory agencies. Yet the drive to assess the performance of workers and to measure forms of labor which, by their nature, are resistant to quantification, has inevitably required additional layers of management and bureaucracy. What we have is not a direct comparison of workers’ performance or output, but a comparison between the audited representation of that performance and output. Inevitably, a short-circuiting occurs, and work becomes geared towards the generation and massaging of representations rather than to the official goals of the work itself. Indeed, an anthropological study of local government in Britain argues that ‘More effort goes into ensuring that a local authority’s services are represented correctly than goes into actually improving those services’. This reversal of priorities is one of the hallmarks of a system which can be characterized without hyperbole as ‘market Stalinism’. What late capitalism repeats from Stalinism is just this valuing of symbols of achievement over actual achievement. […] It would be a mistake to regard this market Stalinism as some deviation from the ‘true spirit’ of capitalism. On the contrary, it would be better to say that an essential dimension of Stalinism was inhibited by its association with a social project like socialism and can only emerge in a late capitalist culture in which images acquire an autonomous force. The way value is generated on the stock exchange depends of course less on what a company ‘really does’, and more on perceptions of, and beliefs about, its (future) performance. In capitalism, that is to say, all that is solid melts into PR, and late capitalism is defined at least as much by this ubiquitous tendency towards PR-production as it is by the imposition of market mechanisms.

One of the major prompts for businesses implementing change is the evolution of technology. As new technologies emerge or new use cases emerge for existing technologies; markets are forced to reorganize and therefore businesses are prompted to reorganize in response to that.

Despite its affective packaging, the disposition to catalogue and aggregate neatly rounded-off identities is in no meaningful way radical. Not only is it evocative of nineteenth-century essentialisms, it also reproduces the mindset of the mass information industry, which, though public opinion and market research, sorts the population into the demographic equivalent of sound bites—market shares, taste communities—all in service to the corporate sales effort and management of the national political agenda.

When commercializing disruptive technologies, they found or developed new markets that valued the attributes of the disruptive products, rather than search for a technological breakthrough so that the disruptive product could compete as a sustaining technology in mainstream markets.

I figured I’d spend my first thousand years of Hell in some entry-level position, but after that I wanted to move into management. Be a real team player. Hell is going to see enormous growth in market share over the next millennium. I wanted to ride the crest. The agent said that sounded pretty realistic.

In a bravura demonstration of stonewalling, righteousness, and hurt sincerity, Steve Jobs successfully took to the stage the other day to deny the problem, dismiss the criticism, and spread the blame among other smartphone makers,” Michael Wolff of newser.com wrote. “This is a level of modern marketing, corporate spin, and crisis management about which you can only ask with stupefied incredulity and awe: How do they get away with it? Or, more accurately, how does he get away with it?” Wolff attributed it to Jobs’s mesmerizing effect as “the last charismatic individual.” Other CEOs would be offering abject apologies and swallowing massive recalls, but Jobs didn’t have to. “The grim, skeletal appearance, the absolutism, the ecclesiastical bearing, the sense of his relationship with the sacred, really works, and, in this instance, allows him the privilege of magisterially deciding what is meaningful and what is trivial.

The same is true for the market economy: the power of markets is enormous, but they have no inherent moral character. We have to decide how to manage them... For all these reasons, it is plain that markets must be tamed and tempered to make sure they work to the benefit of most citizens. And that has to be done repeatedly, to ensure that they continue to do so.

The secret killer of innovation is shame. You can’t measure it, but it is there. Every time someone holds back on a new idea, fails to give their manager much needed feedback, and is afraid to speak up in front of a client you can be sure shame played a part. That deep fear we all have of being wrong, of being belittled and of feeling less than, is what stops us taking the very risks required to move our companies forward. If you want a culture of creativity and innovation, where sensible risks are embraced on both a market and individual level, start by developing the ability of managers to cultivate an openness to vulnerability in their teams. And this, paradoxically perhaps, requires first that they are vulnerable themselves. This notion that the leader needs to be “in charge” and to “know all the answers” is both dated and destructive. Its impact on others is the sense that they know less, and that they are less than. A recipe for risk aversion if ever I have heard it. Shame becomes fear. Fear leads to risk aversion. Risk aversion kills innovation.

The form of association, however, which if mankind continue to improve, must be expected in the end to predominate, is not that which can exist between a capitalist as chief, and work-people without a voice in the management, but the association of the labourers themselves on terms of equality, collectively owning the capital with which they carry on their operations, and working under managers elected and removable by themselves.

In fact, the belief that climate could be plausibly governed, or managed, by any institution or human instrument presently at hand is another wide-eyed climate delusion. The planet survived many millennia without anything approaching a world government, in fact endured nearly the entire span of human civilization that way, organized into competitive tribes and fiefdoms and kingdoms and nation-states, and only began to build something resembling a cooperative blueprint, very piecemeal, after brutal world wars—in the form of the League of Nations and United Nations and European Union and even the market fabric of globalization, whatever its flaws still a vision of cross-national participation, imbued with the neoliberal ethos that life on Earth was a positive-sum game. If you had to invent a threat grand enough, and global enough, to plausibly conjure into being a system of true international cooperation, climate change would be it—the threat everywhere, and overwhelming, and total. And yet now, just as the need for that kind of cooperation is paramount, indeed necessary for anything like the world we know to survive, we are only unbuilding those alliances—recoiling into nationalistic corners and retreating from collective responsibility and from each other. That collapse of trust is a cascade, too.

Reaching any goal in trading requires specific domain knowledge and technical skills. But then, after that, it's all mindset management. Yet most people ignore that —they automatically think they have that last part all figured out, and it's a mistake.

The paradoxical intercourse of audience and celebrity. The suppressed awareness that the whole reason ordinary people found celebrity fascinating was that they were not, themselves, celebrities. That wasn't quite it. (....) It was more the deeper, more tragic and universal conflict of which the celebrity paradox was a part. The conflict between the subjective centrality of our own lives versus our awareness of its objective insignificance. Atwater knew - as did everyone at Style, though by some strange unspoken consensus it was never said aloud - that this was the single great informing conflict of the American psyche. The management of insignificance. It was the great syncretic bond of US monoculture. It was everywhere, at the root of everything - of impatience in long lines, of cheating on taxes, of movements in fashion and music and art, of marketing. In particular, he thought it was alive in the paradoxes of audience. It was the feeling that celebrities were your intimate friends, coupled with the inchoate awareness that that untold millions of people felt the same way - and that the celebrities themselves did not. Atwater had had contact with a certain number of celebrities (there was no way to avoid it at BSG), and they were not, in his experience, very friendly or considerate people. Which made sense when one considered that celebrities were not actually functioning as real people at all, but as something more like symbols of themselves.

Here is an all-too-brief summary of Buffett’s approach: He looks for what he calls “franchise” companies with strong consumer brands, easily understandable businesses, robust financial health, and near-monopolies in their markets, like H & R Block, Gillette, and the Washington Post Co. Buffett likes to snap up a stock when a scandal, big loss, or other bad news passes over it like a storm cloud—as when he bought Coca-Cola soon after its disastrous rollout of “New Coke” and the market crash of 1987. He also wants to see managers who set and meet realistic goals; build their businesses from within rather than through acquisition; allocate capital wisely; and do not pay themselves hundred-million-dollar jackpots of stock options. Buffett insists on steady and sustainable growth in earnings, so the company will be worth more in the future than it is today.

Subdue. Fruitfulness, increase, and filling lead naturally to the end result of subduing. To subdue means “to dominate or control,” not in the negative sense of oppression, but in the positive sense of administration. Using business terminology, to subdue means to dominate the market. As we learn to manage our resources, God expands those resources and enlarges our influence. He increases our “market share,” so to speak. There is no limit to what the Lord can do in and with and through any individual or any married couple who surrender themselves and their resources completely to His will and His way. He wants to cover the world with His “orchards” of human fruitfulness.

Another lesson I learned early is that there is nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market to-day has happened before and will happen again. I've never forgotten that. I suppose I really manage to remember when and how it happened. The fact that I remember that way is my way of capitalizing experience.

There is all the more reason for startups to write Web-based software now, because writing desktop software has become a lot less fun. If you want to write desktop software now you do it on Microsoft's terms, calling their APIs and working around their buggy OS. And if you manage to write something that takes off, you may find that you were merely doing market research for Microsoft.

Behind this monstrous shield, liberal democracy and the free market managed to hold out in their last bastions, and Westerners could enjoy sex, drugs and rock and roll, as well as washing machines, refrigerators and televisions. Without nukes, there would have been no Woodstock, no Beatles and no overflowing supermarkets. But in the mid-1970s it seemed that nuclear weapons notwithstanding, the future belonged to socialism.

I thought. I thought of the slow yellow autumn in the swamp and the high honey sun of spring and the eternal silence of the marshes, and the shivering light on them, and the whisper of the spartina and sweet grass in the wind and the little liquid splashes of who-knew-what secret creatures entering that strange old place of blood-warm half earth, half water. I thought of the song of all the birds that I knew, and the soft singsong of the coffee-skinned women who sold their coiled sweet-grass baskets in the market and on Meeting Street. I thought of the glittering sun on the morning harbor and the spicy, somehow oriental smells from the dark old shops, and the rioting flowers everywhere, heavy tropical and exotic. I thought of the clop of horses' feet on cobblestones and the soft, sulking, wallowing surf of Sullivan's Island in August, and the countless small vistas of grace and charm wherever the eye fell; a garden door, a peeling old wall, an entire symmetrical world caught in a windowpane. Charlestone simply could not manage to offend the eye. I thought of the candy colors of the old houses in the sunset, and the dark secret churchyards with their tumbled stones, and the puresweet bells of Saint Michael's in the Sunday morning stillness. I thought of my tottering piles of books in the study at Belleau and the nights before the fire when my father told me of stars and butterflies and voyages, and the silver music of mathematics. I thought of hot, milky sweet coffee in the mornings, and the old kitchen around me, and Aurelia's gold smile and quick hands and eyes rich with love for me.

Nature doesn’t have puts on one side and calls on the other side of the same things, nor does it waste energy betting against the same life it works to cultivate. Nature doesn’t insure high risk gambles by trying to be both the casino and the player. Instead, nature insures capital and profits through a variety of complimentary approaches. At Mayflower-Plymouth we aim to emulate nature in this way with how we approach investing and asset management.

Investors are people with more money than time. Employees are people with more time than money. Entrepreneurs are simply the seductive go-betweens. Startups are business experiments performed with other people’s money. Marketing is like sex: only losers pay for it.” “Company culture is what goes without saying. There are no real rules, only laws. Success forgives all sins. People who leak to you, leak about you. Meritocracy is the propaganda we use to bless the charade. Greed and vanity are the twin engines of bourgeois society. Most managers are incompetent and maintain their jobs via inertia and politics. Lawsuits are merely expensive feints in a well-scripted conflict narrative between corporate entities. Capitalism is an amoral farce in which every player—investor, employee, entrepreneur, consumer—is complicit.

The husband and wife who open another delicatessen store or another Mexican restaurant in the American suburb surely take a risk. But are they entrepreneurs? All they do is what has been done many times before. They gamble on the increasing popularity of eating out in their area, but create neither a new satisfaction nor new consumer demand. Seen under this perspective they are surely not entrepreneurs even though theirs is a new venture. McDonald’s, however, was entrepreneurship. It did not invent anything, to be sure. Its final product was what any decent American restaurant had produced years ago. But by applying management concepts and management techniques (asking, What is “value” to the customer?), standardizing the “product,” designing process and tools, and by basing training on the analysis of the work to be done and then setting the standards it required, McDonald’s both drastically upgraded the yield from resources, and created a new market and a new customer. This is entrepreneurship.

provides American business with the only reliable domestic market in the world. Schools train individuals to respond as a mass. Boys and girls are drilled in being bored, frightened, envious, emotionally needy, generally incomplete. A successful mass production economy requires such a clientele. A small business, small farm economy like that of the Amish requires individual competence, thoughtfulness, compassion, and universal participation; our own requires a managed mass of leveled, spiritless, anxious, familyless, friendless, godless, and obedient people who believe the difference between Cheers and Seinfeld is a subject worth arguing about.

Two-thirds of professionally managed funds are regularly outperformed by a broad capitalization-weighted index fund with equivalent risk, and those that do appear to produce excess returns in one period are not likely to do so in the next. The record of professionals does not suggest that sufficient predictability exists in the stock market to produce exploitable arbitrage opportunities.

If you want to build a truly great company you have got to ride a really big wave. And you’ve got to be able to look at market waves and technology waves in a different way than other folks and see it happening sooner, know how to position yourself out there, prepare yourself, pick the right surfboard—in other words, bring the right management team in, build the right platform underneath you. Only then can you ride a truly great wave. At the end of the day, without that great wave, even if you are a great entrepreneur, you are not going to build a really great business.

Every entrepreneur and every owner of means of production must daily justify his social function through subservience to the wants of the consumers. The management of a socialist economy is not under the necessity of adjusting itself to the operation of a market. It has an absolute monopoly. It does not depend on the wants of the consumers. It itself decides what must be done. It does not serve the consumers as the businessman does. It provides for them as the father provides for his children or the headmaster of a school for the students. It is the authority bestowing favors, not a businessman eager to attract customers.

Noticing that, he made a trail of the ring, to see if it had that power; and he found that whenever he turned the collet inside, he was invisible, when he turned it outside, visible. After he found this out he managed to be appointed one of the messengers to the king; when he got there, he seduced the king's wife, and with her set upon the king, and killed him, and seized the empire. Then if there could be two such rings, and if the just man put one on and the unjust the other, no one, as it would be thought, would be so adamantine as to abide in the practice of justice, no one could endure to hold back from another's goods and not to touch, when it was in his power to take what he would even out of the market without fear, and to go into any house and lie with anyone he wished, and to kill or set free from prison those he might wish, and to do anything else in the world like a very god. And in doing so he would do just the same as the other; both would go the same way. Surely one would call this a strong proof that no one is just willingly but only under a strong compulsion, believing that it is not a good to him personally; since wherever each thinks he will be able to do injustice, he does injustice.

So I assume that those of you who are married and thus purchased a diamond for your wife are aware of how evil and corrupt the diamond cartel is. I was not. Apparently, diamonds are almost worthless other than the value attached to them by the silly tramps that DeBeers has brainwashed into thinking 'diamond equals love.' Congratulations, ladies, your quest for the perfect princess cut not only supports terrorism and genocide, but has managed to destroy an entire continent. - speaking of blood diamonds, what the hell is going on here? Everyone is upset about African children losing their limbs? Perhaps I missed their concern about these same children during the Rwandan genocide. Here's a solution: Stop buying diamonds. No no, the avarice of the entitled whore cannot be contained. And if blood diamonds are so fucking bad, why can't I by them at a discount? Or at least get them with a death certificate or an appendage or some sort of cogent backstory that might indicate an actual meaning to this useless little cube of carbon. Clearly the diamond market is broken on multiple levels.

The explosion of paperwork, in turn, is a direct result of the introduction of corporate management techniques, which are always justified as ways of increasing efficiency, by introducing competition at every level. What these management techniques invariably end up meaning in practice is that everyone winds up spending most of their time trying to sell each other things: grant proposals; book proposals; assessments of our students’ job and grant applications; assessments of our colleagues; prospectuses for new interdisciplinary majors, institutes, conference workshops, and universities themselves, which have now become brands to be marketed to prospective students or contributors. Marketing and PR thus come to engulf every aspect of university life.

Historically, shamans have always been part of the society where they lived, taking care of its problems, whenever they were allowed to operate. For centuries shamanic cultures have been persecuted in the western world until they were almost entirely exterminated. They have managed to survive in secrecy or through complex esoteric camouflage. Nowadays there seems to be more freedom and this ancient knowledge can re-emerge and be used in our own cultural context and not relegated somewhere else. The world needs shamans able to function on the roads, among the electronic equipment and engines, in the squares and markets of our contemporary society.

The leading virtue of conservative politics as I see it is the preference for procedure over ideological programs. Liberals tend to believe that government exists in order to lead the people into a better future, in which liberty, equality, social justice, the socialist millennium, or something of that kind will be realized. ... Conservatives believe that the role of government is not to lead society towards a goal but to ensure that, wherever society goes, it goes there peacefully. Government exists in order to conciliate opposing views, to manage conflicts, and to ensure peaceful transactions between the citizens, as they compete in the market, and associate in what Burke called their “little platoons.

Thus Marx begins his attack on the liberal concept of freedom. The freedom of the market is not freedom at all. It is a fetishistic illusion. Under capitalism, individuals surrender to the discipline of abstract forces (such as the hidden hand of the market made much of by Adam Smith) that effectively govern their relations and choices. I can make something beautiful and take it to market, but if I don’t manage to exchange it then it has no value. Furthermore, I won’t have enough money to buy commodities to live. Market forces, which none of us individually control, regulate us. And part of what Marx wants to do in Capital is talk about this regulatory power that occurs even “in the midst of the accidental and ever-fluctuating exchange relations between the products.” Supply and demand fluctuations generate price fluctuations around some norm but cannot explain why a pair of shoes on average trades for four shirts. Within all the confusions of the marketplace, “the labour-time socially necessary to produce [commodities] asserts itself as a regulative law of nature. In the same way, the law of gravity asserts itself when a person’s house collapses on top of him” (168). This parallel between gravity and value is interesting: both are relations and not things, and both have to be conceptualized as immaterial but objective.

...[I]t doesn't take an advanced degree to figure out that this education talk is less a strategy for mitigating inequality than it is a way of rationalizing it. To attribute economic results to school years finished and SAT scores achieved is to remove matters from the realm of, well, economics and to relocate them to the provinces of personal striving and individual intelligence. From this perspective, wages aren't what they are because one party (management) has a certain amount of power over the other (workers); wages are like that because the god of the market, being surpassingly fair, rewards those who show talent and gumption. Good people are those who get a gold star from their teacher in elementary school, a fat acceptance letter from a good college, and a good life when they graduate. All because they are the best. Those who don't pay attention in high school get to spend their days picking up discarded cans by the side of the road. Both outcomes are our own doing.

Our essential difficulty is that we are seeking in a mechanism, which is necessary, qualities it simply does not possess. The market does not lead, balance or encourage democracy. However, properly regulated it is the most effective way to conduct business. It cannot give leadership even on straight economic issues. The world-wide depletion of fish stocks is a recent example. The number of fish caught between 1950 and 1989 multiplied by five. The fishing fleet went from 585,000 boats in 1970 to 1.2 million in 1990 and on to 3.5 million today (1995). No one thought about the long- or even medium-term maintenance of stocks; not the fishermen, not the boat builders, not the fish wholesalers who found new uses for their product, including fertilizer and chicken feed; not the financiers. It wasn't their job. Their job was to worry about their own interests. (IV - From Managers and Speculators to Growth)

You make plans and decisions assuming randomness and chaos are for chumps. The illusion of control is a peculiar thing because it often leads to high self-esteem and a belief your destiny is yours for the making more than it really is. This over-optimistic view can translate into actual action, rolling with the punches and moving ahead no matter what. Often, this attitude helps lead to success. Eventually, though, most people get punched in the stomach by life. Sometimes, the gut-punch doesn’t come until after a long chain of wins, until you’ve accumulated enough power to do some serious damage. This is when wars go awry, stock markets crash, and political scandals spill out into the media. Power breeds certainty, and certainty has no clout against the unpredictable, whether you are playing poker or running a country. Psychologists point out these findings do not suggest you should throw up your hands and give up. Those who are not grounded in reality, oddly enough, often achieve a lot in life simply because they believe they can and try harder than others. If you focus too long on your lack of power, you can slip into a state of learned helplessness that will whirl you into a negative feedback loop of depression. Some control is necessary or else you give up altogether. Langer proved this when studying nursing homes where some patients were allowed to arrange their furniture and water plants—they lived longer than those who had had those tasks performed by others. Knowing about the illusion of control shouldn’t discourage you from attempting to carve a space for yourself out of whatever field you want to tackle. After all, doing nothing guarantees no results. But as you do so, remember most of the future is unforeseeable. Learn to coexist with chaos. Factor it into your plans. Accept that failure is always a possibility, even if you are one of the good guys; those who believe failure is not an option never plan for it. Some things are predictable and manageable, but the farther away in time an event occurs, the less power you have over it. The farther away from your body and the more people involved, the less agency you wield. Like a billion rolls of a trillion dice, the factors at play are too complex, too random to truly manage. You can no more predict the course of your life than you could the shape of a cloud. So seek to control the small things, the things that matter, and let them pile up into a heap of happiness. In the bigger picture, control is an illusion anyway.

While making money was good, having meaningful work and meaningful relationships was far better. To me, meaningful work is being on a mission I become engrossed in, and meaningful relationships are those I have with people I care deeply about and who care deeply about me. Think about it: It’s senseless to have making money as your goal as money has no intrinsic value—its value comes from what it can buy, and it can’t buy everything. It’s smarter to start with what you really want, which are your real goals, and then work back to what you need to attain them. Money will be one of the things you need, but it’s not the only one and certainly not the most important one once you get past having the amount you need to get what you really want. When thinking about the things you really want, it pays to think of their relative values so you weigh them properly. In my case, I wanted meaningful work and meaningful relationships equally, and I valued money less—as long as I had enough to take care of my basic needs. In thinking about the relative importance of great relationships and money, it was clear that relationships were more important because there is no amount of money I would take in exchange for a meaningful relationship, because there is nothing I could buy with that money that would be more valuable. So, for me, meaningful work and meaningful relationships were and still are my primary goals and everything I did was for them. Making money was an incidental consequence of that. In the late 1970s, I began sending my observations about the markets to clients via telex. The genesis of these Daily Observations (“ Grains and Oilseeds,” “Livestock and Meats,” “Economy and Financial Markets”) was pretty simple: While our primary business was in managing risk exposures, our clients also called to pick my brain about the markets. Taking those calls became time-consuming, so I decided it would be more efficient to write down my thoughts every day so others could understand my logic and help improve it. It was a good discipline since it forced me to research and reflect every day. It also became a key channel of communication for our business. Today, almost forty years and ten thousand publications later, our Daily Observations are read, reflected on, and argued about by clients and policymakers around the world. I’m still writing them, along with others at Bridgewater, and expect to continue to write them until people don’t care to read them or I die.

They would tell you that governments could not manage things as economically as private individuals; they would repeat and repeat that, and think they were saying something! They could not see that “economical” management by masters meant simply that they, the people, were worked harder and ground closer and paid less! They were wage-earners and servants, at the mercy of exploiters whose one thought was to get as much out of them as possible; and they were taking an interest in the process, were anxious lest it should not be done thoroughly enough! Was it not honestly a trial to listen to an argument such as that? And yet there were things even worse. You would begin talking to some poor devil who had worked in one shop for the last thirty years, and had never been able to save a penny; who left home every morning at six o’clock, to go and tend a machine, and come back at night too tired to take his clothes off; who had never had a week’s vacation in his life, had never traveled, never had an adventure, never learned anything, never hoped anything—and when you started to tell him about Socialism he would sniff and say, “I’m not interested in that—I’m an individualist!” And then he would go on to tell you that Socialism was “paternalism,” and that if it ever had its way the world would stop progressing. It was enough to make a mule laugh, to hear arguments like that; and yet it was no laughing matter, as you found out—for how many millions of such poor deluded wretches there were, whose lives had been so stunted by capitalism that they no longer knew what freedom was! And they really thought that it was “individualism” for tens of thousands of them to herd together and obey the orders of a steel magnate, and produce hundreds of millions of dollars of wealth for him, and then let him give them libraries; while for them to take the industry, and run it to suit themselves, and build their own libraries—that would have been “Paternalism”!

Cixi’s lack of formal education was more than made up for by her intuitive intelligence, which she liked to use from her earliest years. In 1843, when she was seven, the empire had just finished its first war with the West, the Opium War, which had been started by Britain in reaction to Beijing clamping down on the illegal opium trade conducted by British merchants. China was defeated and had to pay a hefty indemnity. Desperate for funds, Emperor Daoguang (father of Cixi’s future husband) held back the traditional presents for his sons’ brides – gold necklaces with corals and pearls – and vetoed elaborate banquets for their weddings. New Year and birthday celebrations were scaled down, even cancelled, and minor royal concubines had to subsidise their reduced allowances by selling their embroidery on the market through eunuchs. The emperor himself even went on surprise raids of his concubines’ wardrobes, to check whether they were hiding extravagant clothes against his orders. As part of a determined drive to stamp out theft by officials, an investigation was conducted of the state coffer, which revealed that more “than nine million taels of silver had gone missing. Furious, the emperor ordered all the senior keepers and inspectors of the silver reserve for the previous forty-four years to pay fines to make up the loss – whether or not they were guilty. Cixi’s great-grandfather had served as one of the keepers and his share of the fine amounted to 43,200 taels – a colossal sum, next to which his official salary had been a pittance. As he had died a long time ago, his son, Cixi’s grandfather, was obliged to pay half the sum, even though he worked in the Ministry of Punishments and had nothing to do with the state coffer. After three years of futile struggle to raise money, he only managed to hand over 1,800 taels, and an edict signed by the emperor confined him to prison, only to be released if and when his son, Cixi’s father, delivered the balance. The life of the family was turned upside down. Cixi, then eleven years old, had to take in sewing jobs to earn extra money – which she would remember all her life and would later talk about to her ladies-in-waiting in the court. “As she was the eldest of two daughters and three sons, her father discussed the matter with her, and she rose to the occasion. Her ideas were carefully considered and practical: what possessions to sell, what valuables to pawn, whom to turn to for loans and how to approach them. Finally, the family raised 60 per cent of the sum, enough to get her grandfather out of prison. The young Cixi’s contribution to solving the crisis became a family legend, and her father paid her the ultimate compliment: ‘This daughter of mine is really more like a son!’ Treated like a son, Cixi was able to talk to her father about things that were normally closed areas for women. Inevitably their conversations touched on official business and state affairs, which helped form Cixi’s lifelong interest. Being consulted and having her views acted on, she acquired self-confidence and never accepted the com“common assumption that women’s brains were inferior to men’s. The crisis also helped shape her future method of rule. Having tasted the bitterness of arbitrary punishment, she would make an effort to be fair to her officials.

The Atonist nobility knew it was impossible to organize and control a worldwide empire from Britain. The British Isles were geographically too far West for effective management. In order to be closer to the “markets,” the Atonist corporate executives coveted Rome. Additionally, by way of their armed Templar branch and incessant murderous “Crusades,” they succeeded making inroads further east. Their double-headed eagle of control reigned over Eastern and Western hemispheres. The seats of Druidic learning once existed in the majority of lands, and so the Atonist or Christian system spread out in similar fashion. Its agents were sent from Britain and Rome to many a region and for many a dark purpose. To this very day, the nobility of Europe and the east are controlled from London and Rome. Nothing has changed when it comes to the dominion of Aton. As Alan Butler and Stephen Dafoe have proven, the Culdean monks, of whom we write, had been hired for generations as tutors to elite families throughout Europe. In their book The Knights Templar Revealed, the authors highlight the role played by Culdean adepts tutoring the super-wealthy and influential Catholic dynasties of Burgundy, Champagne and Lorraine, France. Research into the Templars and their affiliated “Salt Line” dynasties reveals that the seven great Crusades were not instigated and participated in for the reasons mentioned in most official history books. As we show here, the Templars were the military wing of British and European Atonists. It was their job to conquer lands, slaughter rivals and rebuild the so-called “Temple of Solomon” or, more correctly, Akhenaton’s New World Order. After its creation, the story of Jesus was transplanted from Britain, where it was invented, to Galilee and Judea. This was done so Christianity would not appear to be conspicuously Druidic in complexion. To conceive Christianity in Britain was one thing; to birth it there was another. The Atonists knew their warped religion was based on ancient Amenism and Druidism. They knew their Jesus, Iesus or Yeshua, was based on Druidic Iesa or Iusa, and that a good many educated people throughout the world knew it also. Their difficulty concerned how to come up with a believable king of light sufficiently appealing to the world’s many pagan nations. Their employees, such as St. Paul (Josephus Piso), were allowed to plunder the archive of the pagans. They were instructed to draw from the canon of stellar gnosis and ancient solar theologies of Egypt, Chaldea and Ireland. The archetypal elements would, like ingredients, simply be tossed about and rearranged and, most importantly, the territory of the new godman would be resituated to suit the meta plan.

PEACETIME CEO/WARTIME CEO Peacetime CEO knows that proper protocol leads to winning. Wartime CEO violates protocol in order to win. Peacetime CEO focuses on the big picture and empowers her people to make detailed decisions. Wartime CEO cares about a speck of dust on a gnat’s ass if it interferes with the prime directive. Peacetime CEO builds scalable, high-volume recruiting machines. Wartime CEO does that, but also builds HR organizations that can execute layoffs. Peacetime CEO spends time defining the culture. Wartime CEO lets the war define the culture. Peacetime CEO always has a contingency plan. Wartime CEO knows that sometimes you gotta roll a hard six. Peacetime CEO knows what to do with a big advantage. Wartime CEO is paranoid. Peacetime CEO strives not to use profanity. Wartime CEO sometimes uses profanity purposefully. Peacetime CEO thinks of the competition as other ships in a big ocean that may never engage. Wartime CEO thinks the competition is sneaking into her house and trying to kidnap her children. Peacetime CEO aims to expand the market. Wartime CEO aims to win the market. Peacetime CEO strives to tolerate deviations from the plan when coupled with effort and creativity. Wartime CEO is completely intolerant. Peacetime CEO does not raise her voice. Wartime CEO rarely speaks in a normal tone. Peacetime CEO works to minimize conflict. Wartime CEO heightens the contradictions. Peacetime CEO strives for broad-based buy-in. Wartime CEO neither indulges consensus building nor tolerates disagreements. Peacetime CEO sets big, hairy, audacious goals. Wartime CEO is too busy fighting the enemy to read management books written by consultants who have never managed a fruit stand. Peacetime CEO trains her employees to ensure satisfaction and career development. Wartime CEO trains her employees so they don’t get their asses shot off in the battle. Peacetime CEO has rules like “We’re going to exit all businesses where we’re not number one or two.” Wartime CEO often has no businesses that are number one or two and therefore does not have the luxury of following that rule.

Sheepwalking I define “sheepwalking” as the outcome of hiring people who have been raised to be obedient and giving them a brain-dead job and enough fear to keep them in line. You’ve probably encountered someone who is sheepwalking. The TSA “screener” who forces a mom to drink from a bottle of breast milk because any other action is not in the manual. A “customer service” rep who will happily reread a company policy six or seven times but never stop to actually consider what the policy means. A marketing executive who buys millions of dollars’ worth of TV time even though she knows it’s not working—she does it because her boss told her to. It’s ironic but not surprising that in our age of increased reliance on new ideas, rapid change, and innovation, sheepwalking is actually on the rise. That’s because we can no longer rely on machines to do the brain-dead stuff. We’ve mechanized what we could mechanize. What’s left is to cost-reduce the manual labor that must be done by a human. So we write manuals and race to the bottom in our search for the cheapest possible labor. And it’s not surprising that when we go to hire that labor, we search for people who have already been trained to be sheepish. Training a student to be sheepish is a lot easier than the alternative. Teaching to the test, ensuring compliant behavior, and using fear as a motivator are the easiest and fastest ways to get a kid through school. So why does it surprise us that we graduate so many sheep? And graduate school? Since the stakes are higher (opportunity cost, tuition, and the job market), students fall back on what they’ve been taught. To be sheep. Well-educated, of course, but compliant nonetheless. And many organizations go out of their way to hire people that color inside the lines, that demonstrate consistency and compliance. And then they give these people jobs where they are managed via fear. Which leads to sheepwalking. (“I might get fired!”) The fault doesn’t lie with the employee, at least not at first. And of course, the pain is often shouldered by both the employee and the customer. Is it less efficient to pursue the alternative? What happens when you build an organization like W. L. Gore and Associates (makers of Gore-Tex) or the Acumen Fund? At first, it seems crazy. There’s too much overhead, there are too many cats to herd, there is too little predictability, and there is way too much noise. Then, over and over, we see something happen. When you hire amazing people and give them freedom, they do amazing stuff. And the sheepwalkers and their bosses just watch and shake their heads, certain that this is just an exception, and that it is way too risky for their industry or their customer base. I was at a Google conference last month, and I spent some time in a room filled with (pretty newly minted) Google sales reps. I talked to a few of them for a while about the state of the industry. And it broke my heart to discover that they were sheepwalking. Just like the receptionist at a company I visited a week later. She acknowledged that the front office is very slow, and that she just sits there, reading romance novels and waiting. And she’s been doing it for two years. Just like the MBA student I met yesterday who is taking a job at a major packaged-goods company…because they offered her a great salary and promised her a well-known brand. She’s going to stay “for just ten years, then have a baby and leave and start my own gig.…” She’ll get really good at running coupons in the Sunday paper, but not particularly good at solving new problems. What a waste. Step one is to give the problem a name. Done. Step two is for anyone who sees themselves in this mirror to realize that you can always stop. You can always claim the career you deserve merely by refusing to walk down the same path as everyone else just because everyone else is already doing it.

GET BEYOND THE ONE-MAN SHOW Great organizations are never one-man operations. There are 22 million licensed small businesses in America that have no employees. Forbes suggests 75 percent of all businesses operate with one person. And the average income of those companies is a sad $44,000. That’s not a business—that’s torture. That is a prison where you are both the warden and the prisoner. What makes a person start a business and then be the only person who works there? Are they committed to staying small? Or maybe an entrepreneur decides that because the talent pool is so poor, they can’t hire anyone who can do it as well as them, and they give up. My guess is the latter: Most people have just given up and said, “It’s easier if I just do it myself.” I know, because that’s what I did—and it was suicidal. Because my business was totally dependent on me and only me, I was barely able to survive, much less grow, for the first ten years. Instead I contracted another company to promote my seminars. When I hired just one person to assist me out of my home office, I thought I was so smart: Keep it small. Keep expenses low. Run a tight ship. Bigger isn’t always better. These were the things I told myself to justify not growing my business. I did this for years and even bragged about how well I was doing on my own. Then I started a second company with a partner, a consulting business that ran parallel to my seminar business. This consulting business quickly grew bigger than my first business because my partner hired people to work for us. But even then I resisted bringing other people into the company because I had this idea that I didn’t want the headaches and costs that come with managing people. My margins were monster when I had no employees, but I could never grow my revenue line without killing myself, and I have since learned that is where all my attention and effort should have gone. But with the efforts of one person and one contracted marketing company, I could expand only so much. I know that a lot of speakers and business gurus run their companies as one-man shows. Which means that while they are giving advice to others about how to grow a business, they may have never grown one themselves! Their one-man show is simply a guy or gal going out, collecting a fee, selling time and a few books. And when they are out speaking, the business terminates all activity. I started studying other people and companies that had made it big and discovered they all had lots of employees. The reality is you cannot have a great business if it’s just you. You need to add other people. If you don’t believe me, try to name one truly great business that is successful, ongoing, viable, and growing that doesn’t have many people making it happen. Good luck. Businesses are made of people, not just machines, automations, and technology. You need people around you to implement programs, to add passion to the technology, to serve customers, and ultimately to get you where you want to go. Consider the behemoth online company Amazon: It has more than 220,000 employees. Apple has more than 100,000; Microsoft has around the same number. Ernst & Young has more than 200,000 people. Apple calls the employees working in its stores “Geniuses.” Don’t you want to hire employees deserving of that title too? Think of how powerful they could make your business.