24. December 2015 · Comments Off on Wisdom from US Navy Seal Chris Kyle · Categories: Uncategorized

After reading Chris Kyle‘s book American Sniper there was a quote at the end of the book that has helped me a lot when life throws little complications my way. I find this quote especially helpful as the holiday season tends to stress out many of us and we are anxious about what the new year brings. We need to keep in mind all of our blessings and how things could be infinitely worse if we had to walk a mile in another person’s shoes.

On page 430 Kyle writes, “When people ask me how the war changed me, I tell them that the biggest thing has to do with my perspective. You know all the everyday things that stress you here? I don’t give a shit about them. There are bigger and worse things that could happen than to have this tiny little problem wreck your life, or even your day. I’ve seen them. More. I’ve lived them.”

 

08. December 2015 · Comments Off on Daniel Francis On Being a Life Coach · Categories: Uncategorized
DanFrancis
There are people that you meet in life that have the power to deeply inspire. Daniel Francis is one of those people. He can make profound connections with groups or individuals. For years Daniel traveled all over the country using his talents to raise millions of dollars for non-for-profit and religious organizations. Now, Daniel is putting his skills to use to help individuals. I recently posed three questions to him about being a life coach. Here is what he had to say.
1) What made you become a life coach?
Whether at a cocktail party, after Church on Sunday or waiting in line at the bank, I found that even strangers I spoke with often  began speaking to pain points that were preventing them from living on a better, fuller, happier level.  Just asking certain questions like “What’s in your way?” or “What do you need to do to accomplish that?” opened up shed waters of revelation and surprise.  Becoming a coach was organic in that it flowed from the way I typically speak to most people.
2) How can people who choose a life coach and best approach the life coach process?
The best coaches use similar (and successful) techniques for the majority of what is blocking someone.  One of the exceptions to this is addiction coaching which warrants a specific helping relationship.  Other than that, take advantage of the typical “first session free” (as I provide on my website, www.dmfcoaching.com) as many coaches offer that.  A good coach should:  a) mirror back to you what your greatest needs are; b) challenge you; c) affirm you; but d) also provide some benchmark/goal-setting work that allows you to see real progress within a relatively short period of time.
3) How can people determine if a life coach is a good fit for them?
Great question.  You know you’ve found someone who will help you bridge the gap between where you are now and where you know you want to be if:
1)  You feel very comfortable opening up to him/her;
2)  You begin to FEEL that there’s progress within a month or two;
3)  You SEE significant progress within 3 months (usually less, depending on what’s blocking you, etc.); and
4)  Your frequency of visits begins to diminish over time and you only need to contact the coach when a major life obstacle begins looming large.
04. December 2015 · Comments Off on Librarian Justin Hoenke on three things that inspire him · Categories: Uncategorized

JustintheLibrarian

Justin Hoenke is an all-star librarian and I was so thankful that he was able to take some time to answer three questions I had about what inspires him!

Before getting into his responses I urge you to take a look at Justin’s blog which is justinthelibrarian.com. He recently posted some amazing information about his recent trips to New Zealand and Australia!

Justin also pointed out that his friend Ned Potter (another great librarian!) was also there and his post sums up a lot about the experience. See http://www.ned-potter.com/blog/new-zealand-professional-nourishment-parenthood-and-opportunities

Now, here are Justin’s answers to my questions below.

1) What movie inspires you the most and why?

I think that most of Martin Scorsese’s movies inspire me, especially GOODFELLAS. I just love his storytelling style. It makes something that I have no interest in (the mafia and all sorts of bad guy stuff!) interesting.

 

2) What book inspires you the most and why?

The one book that inspires me the most is Mark Lewisohn’s THE BEATLES RECORDING SESSIONS. I used to read this thing through and through as a kid. It was so detailed and interesting.

 

3) What song inspires you the most and why?

This changes so much. In the long run, most of the Beach Boys work between 1966-1978 inspire me greatly. Their VERY overlooked album FRIENDS from 1967 is one of the most peaceful and beautiful pieces of music I have ever heard. I also really enjoy the music played in NYC Gay Discos in the 1980’s! Follow my Mixcloud account favorites to listen to some of those songs. https://www.mixcloud.com/justinhoenke/favorites

 

I love that music because I think about what those men and women were going through in the 80’s with discrimination and AIDS and all that….and it amazes me how they could still just enjoy great music and dance the night away!

29. November 2015 · Comments Off on General Stanley McChrystal’s Team of Teams · Categories: Uncategorized

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My Synopsis:

General Stanley McChrystal’s book Team of Teams will most likely go down as one of the best management books of the century. The book articulates a new vision of management in which all members of an organization view themselves as part of a network of teams that embody a shared sense of common purpose and trust, operate as if no silos existed in order to share information seamlessly, and use decentralized authority (whereby leaders allow subordinates to practice “empowered execution”) to quickly solve complex as well as unpredictable problems.

McChrystal argues that all organizations today must find solutions to complex problems and unpredictability in order to succeed. Ultimately organizations that employ the Team of Teams philosophy will be able to combat complexity and unpredictability through adaptability and resilience.

What makes this a ground-breaking book is the use of both theoretical models of managerial thinking and real world examples. McChrystal did not come up with this managerial philosophy in a vacuum. It was forged during his time leading special operations during the Iraq War. The solutions McChrystal found in response to the challenges the US military confronted in Iraq are woven throughout the book. In each chapter the author will also provide real-world examples from business/organizational history to support his Team of Teams managerial philosophy.

If the Team of Teams philosophy is what we are moving toward what managerial philosophy are we leaving behind?

McChrystal points to Frederick Winslow Taylor’s reductionist managerial philosophy as the mentality that organizations must let go of. What behaviors typify the reductionist managerial philosophy? On pages 42 and 43, McChrystal writes that “Managers did the thinking and planning, while workers executed. No longer were laborers expected to understand how or why things worked- in fact, managers saw teaching them that or paying a premium for their expertise as a form of waste. Taylor told workers, “I have you for your strength and mechanical ability. We have other men paid for thinking.”” The goal of perfect efficiency drove everything in Taylor’s model. Taylor succeeded in utilizing this model in large measure because he worked in an industrial age where it was relatively easy to predict and plan work flows that occurred in regular and consistent cycles.

McChrystal argues in convincing fashion that we live and work in an age of unprecedented unpredictability. In this environment, “Adaptability, not efficiency, must become our central competency (page 20).”

In addition to adaptability, resilience is also needed. As noted on page 78, “In a resilience paradigm managers accept the reality that they will inevitably confront unpredicted threats; rather than erecting strong, specialized defenses , they create systems that aim to roll with the punches, or even benefit from them.” In order to arrive at resilience McChrystal points to a focus not on predictability, but on reconfiguring. On page 82 McChrystal notes that reconfiguring can occur when one recognizes the inevitability of surprises and unknowns and thus builds systems that can survive if not benefit from those surprises.

Here are some of my favorite quotes below:

On page 81, Peter Drucker says, “Efficiency is doing things right; effectiveness is doing the right thing.”

Page 83, “Our Task Force’s rigid top-to-bottom structure was a product of military history and military culture, and finding ways to reverse the information flow-to ensure that when the bottom spoke the top listened-was one of the challenges we would eventually have to overcome. More difficult, however, was breaching the vertical walls separating the divisions of our enterprise. Interdependence meant that silos were no longer an accurate reflection of the environment: events happening all over were now relevant to everyone.”

One example of an outstanding team-organization are the U.S. Navy SEAL teams.

Page 96, “The purpose of BUD/S (Basic Underwater Demolition SEAL training) is not to produce supersoldiers. It is to build superteams.”

Page 97, “The formation of SEAL teams is less about preparing people to follow precise orders than it is about developing trust and the ability to adapt within a small group. … Instructors have constructed a training course that is impossible to survive by executing orders individually.”

Page 98, “Teams whose members know one another deeply perform better.”

Page 98, Harvard Business School teams expert Amy Edmondson explains, “Great teams consist of individuals who have learned to trust each other. Over time, they have discovered each other’s strengths and weaknesses, enabling them to play as a coordinated whole.”

Page 99, “Team members tackling complex environments must all grasp the team’s situation and overarching purpose. Only if each of them understands the goal of a mission and the strategic context in which it fits can the team members evaluate risks on the fly and know how to behave in relation to their teammates.”

Page 104, “In situations defined by high levels of interaction, ingenious solutions can emerge in the absence of any single designer.”

Page 105, “Order can emerge from the bottom up, as opposed to being directed, with a plan, from the top down.”

Learning from Tragedy: The change in airline flight management after the crash of United Flight 173 on December 28, 1978 in Portland, Oregon.

On page 106, the National Transportation Safety Board cited as a cause of the crash, “a breakdown in cockpit management and teamwork.”

Page 107, “The crew’s attachment to procedure instead of purpose offers a clear example of the dangers of prizing efficiency over adaptability. McBroom (the pilot of United Flight 173) had attempted to keep track of everything himself, and did not take full advantage of the support offered by his crew.”

Page 108, Risk adaptation occurred when the airline industry was able to, “accept the inevitability of unexpected mechanical failures, and build flexible systems to combat these unknowns.”

What was the solution after the United Flight 173 tragedy?

Crew Resource Management (CRM)!

Page 109, CRM’s “intensive management seminars demanded that participants diagnose their own and others’ managerial styles. It trained juniors to speak more assertively and captains to be less forceful, turning vertical command-and-control relationships into flexible, multidirectional, communicative bonds. Instructors exhausted students with team-building exercises.”

CRM style management was also being formed in the medical profession.

Page 112, “During the Vietnam War military surgeons discovered that moving the lead surgeon away from the patient and having him stand at the foot of the bed during resuscitation and evaluation allowed for more actions to occur simultaneously. This practice made the lead surgeon, in effect, a team player-enabling the problem solving efforts of others, rather than telling them what to do.”

Page 119, “The best teams know their coach (or commander or boss) trusts them to trust each other.”

Page 120, “Teams are messy. Connections crisscross all over the place, and there is lots of overlap: team members track and travel through not only their own specialized territory but often the entire playing field. Trust and purpose are inefficient: getting to know your colleagues intimately and acquiring a whole-system overview are big time sinks; the sharing of responsibilities generates redundancy. But this overlap and redundancy-these inefficiencies- are precisely what imbues teams with high-level adaptability and efficacy.”

Pages 128-129, “But on a team of teams, every individual does not have to have a relationship with every other individual; instead, the relationships between the constituent teams need to resemble those between individuals on a given team.”

Page 141, “The organizational structures we had developed in the name of secrecy and efficiency actively prevented us from talking to each other and assembling a full picture.”

How did NASA get a man on the moon?

By re-inventing its management structure! Enter George Mueller.

Page 147, “Mueller threw out the old org charts and required managers and engineers, who were used to operating in the confines of their own silos, to communicate daily with their functional counterparts at other field centers and on other teams.”

Page 148, “Mueller insisted on daily analyses and quick data exchange. All data were on display in a central control room that had links with automated displays to Apollo field centers. It was the Internet before the Internet: information was updated and shared widely and instantly.”

Page 149, Mueller institutes “systems engineering” or “systems management” an approach built on the foundation of “systems thinking.”

“One cannot understand a part of a system without having at least a rudimentary understanding of the whole. It was the organizational manifestation that imbued NASA with the adaptive, emergent intelligence it needed to put a man on the moon.”

ELDO (European Launcher Development Organization)– It failed because the UK and European Union countries(France, Germany, and Italy) did not work in a collaborative fashion to put a rocket into space. They simply did not communicate effectively.

Page 150, “ELDO teams worked independently, users and manufacturers communicated rarely, and each nation assumed control of a different stage of the rocket. There was no single location for project documentation, no system for providing access to other groups’ documentation, and no specifications for what documentation each entity should produce. Each country managed its part through its own national organization, and each sought to maximize its own economic advantages, which often meant withholding information. Contractors reported only to their national governments.”

Page 159, “How people behave is often a by-product of how we set up physical space.”

Page 167, “The critical first step was to share our own information widely and be generous with our own people and resources. From there, we hoped that the human relationships we built through that generosity would carry the day. Information sharing had to include every part of the force. Our thinking was that the value of this information and the power that came with it were greater the more it was shared. “

Page 174, “There are circumstances in which cooperation is better than competition. Encouragement to collaborate tends to be more of a bumper sticker slogan than an actual managerial practice. In an interdependent environment, however, collaboration may be necessary to survival.”

Page 195, Alan Mulally of Boeing and later Ford is quoted, “Working together always works. It always works. Everybody has to be on the team. They have to be interdependent with one another.”

Page 196, Sandy Pentland, an MIT professor, has found that sharing information and creating strong horizontal relationships improves the effectiveness of everything from businesses to governments to cities.”

Examples include the Ritz-Carlton hotel chain which allows employees to spend up to $2000 to “satisfy guests or deal with situations that arise (page 210).”

Nordstrom only has one rule in its employee handbook, “Our One Rule: Use good judgment in all situations (page 211).”

Page 212, Rosabeth Moss Kanter of Harvard Business School concludes, “The degree to which the opportunity to use power effectively is granted to or withheld from individuals is one operative difference between those companies which stagnate and those which innovate.”

McChrystal’s decentralized managerial philosophy went something like this (page 214), “”If something supports our effort, as long as it is not immoral or illegal,” you could do it. Soon, I found that the question I most often asked my force was “What do you need?” “

Page 214, “On the whole, our initiative-which we call “empowered execution” met with tremendous success. Decisions came more quickly, critical in a fight where speed was essential to capturing enemies and preventing attacks. More important, and more surprising, we found that, even as speed increased and we pushed authority further down, the quality of decisions actually went up.”

Page 216, “In the old model, subordinates provided information and leaders disseminated commands. We reversed it: we had our leaders provide information so that subordinates, armed with context, understanding, and connectivity, could take the initiative and make decisions.”

Page 225, “I began to view effective leadership in the new environment as more akin to gardening than chess. The gardener cannot actually “grow” tomatoes, squash, or beans-she can only foster an environment in which the plants do so.”

Page 226, “Leading as a gardener meant that I kept the Task Force focused on clearly articulated priorities by explicitly talking about them and by leading by example. It was impossible to separate my words and my actions, because the force naturally listened to what I said, but measured the importance of my message by observing what I actually did. If the two were incongruent, my words would be seen as meaningless pontifications.”

Page 228, “”Thank you” became my most important phrase, interest and enthusiasm my most powerful behaviors. For a younger member of the command, even if the brief had been terrible, I would compliment the report.”

Page 232, “The leader’s first responsibility is to the whole. A leader’s words matter, but actions ultimately do more to reinforce or undermine the implementation of a team of teams. Instead of exploiting technology to monitor employee performance at levels that would have warmed Frederick Taylor’s heart, the leader must allow team members to monitor him. More than directing, leaders must exhibit personal transparency. This is the new deal.”

Page 248, “Management determines the quality of the world we live in.”

19. November 2015 · Comments Off on Peter Skillman at Gel 2007: Marshmallow Design Contest · Categories: Uncategorized

Learned about this great video featuring Peter Skillman at Gel 2007. Skillman tasked various groups with building the tallest structure they could that supports a marshmallow. You’ll enjoy learning why kindergarten students outperformed engineers and business school students.

11. November 2015 · Comments Off on thingCHARGER · Categories: Uncategorized

i just saw a commercial for thingCHARGER. I was blown away! The website and accompanying video provide a crystal clear explanation of the product. You’ll want to click the link above to visit their site.

What’s the product?

A charging box that plugs into a normal wall socket and has USB chargers on top of the box and 2 USB outlets on the bottom. The charging box looks like a normal outlet and has two working three pronged sockets. The product is adaptable for virtually all major devices.

Maybe libraries could use this in their cafe areas and teen zone area. Just a thought.

29. October 2015 · Comments Off on Three Questions to Ask in a Performance Evaluation · Categories: Uncategorized

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Looking for an eye opening article on performance evaluations?

Check out Rex Huppke’s Chicago Tribune article on employee reviews.

Huppke cites the work of Avraham Kluger, a professor of organizational behavior at the Hebrew University of Jerusalem, who along with colleague Dina Nir poses the following three positive questions as being an essential part of a performance review.

The three questions are:

  • “Could you please tell me a story about an experience at work during which you felt at your best, full of life and in flow, and you were content even before the results of your actions became known?”

 

  • “What were the conditions, in you, others and in the organization, that allowed this story to happen? In other words, what did you do right, what did co-workers do right, and what did managers or the company itself do right?”

 

  • “To what extent are your current behaviors at work or your plans for the immediate future taking you closer to, or further away from, the conditions that allowed you to succeed in that story?”

 

Kluger interviewed Huppke using the model questions cited above. The process took 10 minutes, but according to Huppke, “it was by far the best evaluation experience I’ve had.”

 

 

09. October 2015 · Comments Off on Crucible Moments: Inspiring Library Leadership by Steven Bell · Categories: Uncategorized

I am excited about Steven Bell‘s (Associate University Librarian for Research and Instructional Services, Temple University and Library Journal Columnist) new book coming out in January 2016. Mission Bell Media Peak Series is publishing it.

The title is Crucible Moments Inspiring Library Leadership. The synopsis on the Mission Bell Media site reads, “This well-crafted collection shares the stories of high-profile librarians and their journey in leadership. Most often, these leadership roles weren’t by design, but rather living through defining crucible moments in their career. Interesting, candid and inspiring, these stories offer encouragement, guidance and humor. Appropriate for academic, public and school libraries.”

Take a look at the list of contributors and you will see yet another reason to get interested in this book!

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25. September 2015 · Comments Off on VISME & 7 Storytelling Techniques Used by the Most Inspiring TED Presenters · Categories: Uncategorized

VISME contacted me via twitter and alerted me to Nayomi Chibana’s piece about the 7 Storytelling Techniques Used by the Most Inspiring TED Presenters. Definitely take a look!

14. August 2015 · Comments Off on Michael Lewis’ Flash Boys and Solving a Massive Information Disparity Problem · Categories: Uncategorized

Flash Boys

Solving a massive informational disparity problem by way of Michael Lewis’ Flash Boys in 23 Steps. Librarians will love the part where John Schwall uses the Staten Island Branch of the New York Public Library. As librarians strive to solve information gaps I hope this blog post will appeal to those of us in the library industry.

  • A Questioner Emerges: The questioner is the person that notices the informational disparity problem and acts to fix it. In this instance the questioner is Brad Katsumaya, who was a trader at the Royal Bank of Canada (RBC). Between late 2006 and mid 2007 Katsumaya noticed that the information concerning trades changed abruptly on the electronic trading platform he was using. The purchase price for stock listed on the platform was prone to change dramatically as soon as Katsumaya went to execute his trades. As noted on page 30, “By the spring of 2007, when his screens showed 10,000 shares of Intel offered at $22 and he pushed the button, the offers vanished.”
  • The Questioner tries to fix the problem by calling on his IT Department for help. As noted on pages 32 to 34, Katsumaya is informed that the problem is “user error.” When the Questioner asks his IT department to dig deeper he gets no effective response.
  • The Questioner then looks outside his organization for information that can help him understand what is happening. On page 37 Katsumaya talks to a broker in Toronto, selling stock to individual Canadians, and learns of Getco which owns 10% of the U.S. market.
  • The Questioner proceeds to see if other people, especially those outside his organization, are experiencing the same problem. On page 40 Katsumaya travels to Connecticut to see a friend at SAC Capital trade stocks and there Katsumaya witnesses the same informational disparity problem in that the trading screens do not reveal an accurate picture of the stock market.
  • The Questioner then seeks an ally to help him solve the problem. In this instance Katsumaya persuaded Rob Park to return to RBC, see page 42. Park had a good working relationship with Katsumaya and Park was tech savvy. Park could translate the technological problems (from “computer language to human language”) for Katsumaya.
  • The Questioner and his ally seek to create a team of people that can collectively solve the informational disparity problem. They try to talk to as many people as they can. They concentrate on high frequency traders and people who had worked at large banks. The best results come from pulling people from “in or near the banks’ technology departments (page 45).” These include Billy Zhao (formerly a Deutsche Bank software programmer, John Schwall (formerly a manager in Bank of America’s electronic trading division), Dan Aisen (a recent Standford Computer Science graduate), and Allen Zhang (a programmer who worked on the elite Golden Goose team affiliated with RBC).
  • The team then conducts a set of experiments to test out theories to solve or further understand the informational disparity problem. RBC permitted up to $10,000 to be lost a day to test out theories (p. 46).
  • One of the team members develops a theory to explain the informational disparity problem. Rob Park makes a case that the informational disparity problem exists because the trading orders are not arriving at the same time to the various stock exchanges (p. 49).
  • A team member builds a program to fix the problem. Allen Zhang creates a program that builds delays into the orders being sent to the exchanges so that the orders arrive at exactly the same time as they did at the exchanges that were slower to get to (p.49)
  • The program is tested and it works. Traders can now accurately buy stock and trust the stock market on their trading screens. The program is now called Thor. (p.50)
  • The Questioner turns into a Leader by taking the moral high ground. The Leader desires to use the tool that can fix the informational disparity problem to help others instead of taking advantage of them. Katsumaya goes about educating others, public information campaign style, on how to solve the problem (p.50)
  • The Leader now has to find someone else in the industry (apart from his team) who can corroborate the extent of the informational disparity problem. Katsumaya goes looking for someone who knows high frequency trading (p.55).
  • The Leader finds someone who is an expert in an important field no one knows much about and who is willing to make a change to join his team. On page 69, Ronan Ryan informs Katsumaya about the high value of speed to reach the exchanges (i.e. nano-seconds and micro-seconds). In one hour Ryan reveals more information about high frequency trading than Katsumaya learned in six months of reading about it. “The U.S. stock market was now a class system, rooted in speed, of haves and have-nots. The haves paid for nano-seconds; the have-nots had no idea that a nano-second had value.” A quid pro quo working relationship develops where Katsumaya teaches Ryan trading and Ryan teaches Katsumaya technology (p. 70).
  • The expert in the important field no one knows much about, joins the team, and then tells the team how to improve their tool to fix the information disparity problem. On pages 70 and 71 we learn that the Thor program operates inconsistently because it has to guess what the travel time is to the stock exchanges. The reason Thor has to guess is that the team has no control over the path the signals take to get to the exchanges nor do they have control over how much traffic is on the network. Ronan Ryan tells Katsumaya that the team needs to build and control its own fiber network. One learns of the router’s importance in determining where the orders are sent and that the exchanges closest to you execute your requested trades the quickest.
  • The team then starts to inform its industry of this problem and markets its tool (to solve the information disparity problem) to them. Ryan and Katsumaya start talking to leaders of important organizations in their industry such as T. Rowe Price (p.85).
  • A team member seeks to understand the underlying cause as to why the information disparity problem existed in the first place. John Schwall performs cyber sleuthing and visits the Staten Island Branch of the New York Public Library. On page 96 he learns of the Regulation National Market System (passed by the SEC in 2005, but not implemented until 2007). The regulation required brokers to find the best market prices for the investors they represented. All the bids and offers for stock were to go to the Securities Information Processor which would then issue a best market price identified as the National Best Bid and Offer. However, the informational disparity arose because there was no specification of the speed of the Securities Information Processor. This leads to front running, “the illegal practice of a stockbroker executing orders on a security for its own account while taking advantage of advance knowledge of pending orders from its customers.” Schwall concludes on page 101, that “every systemic market injustice arose from some loophole in a regulation created to correct some prior injustice.”
  • The team has to decide what to do with its tool to fix the informational disparity problem. One page 119 Katsumaya as the leader moves to create a new stock exchange using what they have learned instead of licensing their product. Katsumaya surveys the most influential players in his industry and learns that his team will have to create a stock exchange on their own as the industry would question the credibility of a Wall Street bank such as RBC creating such an exchange.
  • The team has to start fresh and as a new organization, separate itself from its former parent organization. Katsumaya has to raise money and attract new talent to the team. We also learn on page 156 that Thor will remain the property of RBC.
  • The leader inspires people to follow him in his endeavor and brings key people on board to work on a myriad number of tasks. On page 162 Don Bollerman, formerly of NASADAQ, joins the team and provides a much needed skill set. Team members learn that Bollerman knows more about the inner workings of a stock exchange than anyone they have ever met. On page 166 Francis Chung and Constantine Sokoloff work on designing a stock exchange that protects investors from high frequency traders. On page 183 Matt Trudeau joins the team, he is vital because he is the only team member who has ever opened a new stock exchange. On page 200 Zoran Perkov, joins the team. Perkov had key experience running an electronic stock market. On page 220 Josh Blackburn is brought onboard to create for Katsumaya an idea of the activity on their new stock market. On pages 166 and 167 we learn that Katsumaya does not hire people who are very self serving or who are obsessed with titles and things that do not matter. He looks for “sponges,learners.”
  • The leader raises money for the organization. On page 160 we learn that Katsumaya secured millions from big money managers/investors. However, we also learn that Katsumaya put his life savings on the life and friends/family also contribute.
  • The team gives a name to their organization/ product. Investors Exchange, also known as IEX, is born on page 164.
  • The product is launched. On page 206 we learn that on October 25, 2013 IEX opens.
  • The organization garners industry support in order to survive and thrive. On page 241 Goldman Sachs trades 30 million shares on IEX. “Goldman Sachs was insisting that the U.S. stock market needed to change, and that IEX was the place to change it.