In this edition ... Who Drives Economic Freedom? ... Who Creates Great Things? ... Hits or Home Runs? ... Getting the Team to 'Step Up' ...
Here is your weekly installment of Tuesday Traction Points - Key things I'm seeing and experiencing that give me, and the entrepreneurs I work with, Traction!
Who Drives Economic Freedom?
Economic freedom is closely related to openness to entrepreneurial activity according to the Heritage Foundation's recent release of the 2019 Index of Economic Freedom. Given this relationship, it should be apparent that a government’s most effective stimulus activity will be policy reforms that improve the incentives that drive entrepreneurial activity, creating more opportunities for greater economic dynamism.
The U.S.’s economic freedom ranking has risen six places, and its overall score in the 2019 Index is the highest recorded since 2011. This improvement reflects the impact of major regulatory and tax reforms on economic growth, investment, and business confidence. Are you finding regulatory and tax reforms to be of benefit to your business?
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Home Runs Are Good, Hits Are Better!
Are you making Hits in your business or are you focused on Home Runs? Home Runs are more exciting and usually attributable to success, but Hits are the formula for longstanding success.
Look at the careers of Hall of Fame inductees Ty Cobb, Hank Aaron, and Willie Mays.
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Get Clear on Your Vision and Watch your Team "Step Up" !
Since the early days of Amazon, Bezos has required teams to create a "future press release" well before launching a new product or initiative. It's a technique that will help you and your team create innovations and leapfrog the competition.
"Writing ideas and proposals in complete narratives results in better ideas, more clarity on the ideas, and better conversation on the ideas,"