In this edition ... Fear vs. Reality -- Are You Keeping Score? .. Mystery, Suspicion and Secrecy ... How to Prioritize Like a Master Sculptor ...
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!
Fear vs. Reality...
The stats as of today show over 114.000 cases and 4,600 deaths related to COVID 19 coronavirus. This past week Peter Diamandis, Founder and Chairman of the X-Prize Foundation, sent a great email entitled Fear vs. Reality reminding us to look at the virus numbers in context.
His viewpoint gave me traction and reminded me of the great perspective we get looking at our weekly Leadership Team Scorecards with the context of 13-weeks of rolling data. The perspective helps us see reality and avoid bias, knee-jerk reactions and hysteria.
Here's an excerpt:
"Over the past week, our amygdalas (the fear centers of our brain) have been in overdrive.
As Coronavirus (and anxiety) spread, I’m concerned by the level of pandemic fear circulating through our news and social media.
The goal of this blog is to give you a thoughtful alternative to fear… to contextualize what you are hearing…
COVID-19 has come out of left field and left us blindsided.
But people are largely fearful because we don’t understand it.
So let’s look first at the numbers.
During the 2017-2018 flu season, CDC figures put U.S. influenza deaths at roughly 80,000. Meanwhile, global estimates indicated anywhere between 290,000 - 650,000 influenza-associated deaths from respiratory causes alone.
And in terms of deaths from influenza-induced lower respiratory tract infections, a 2019 study estimated 99,000 - 200,000 deaths for the 2017-2018 flu season.
The following year, CDC figures estimated 35.5 million Americans fell ill with influenza, resulting in 490,600 hospitalizations and 34,200 deaths.
And since this past October, the regular influenza has infected as many as 49 million and killed between 20,000 - 52,000 in the U.S. alone.
By comparison on a global scale, the Coronavirus outbreak has infected over 114,000 people as of early March, resulting in 4,031 deaths worldwide (today’s stat).
Common Flu is Worse
While the fatality rate of Coronavirus now appears to be slightly higher than that of typical influenza (estimates range from 1.4% to the WHO’s 3.4%), the toll of the common flu is staggeringly higher than that of COVID-19.
Concern—as with any infectious disease—is warranted, yes.
But knowing the numbers helps limit our fear of the unknown, and battle our amygdalas against irrationality."
To see the rest of the Peter Diamandis blog post, click here. (4 minutes)
Quote I'm Pondering
“Whatever hysteria exists is inflamed by mystery, suspicion and secrecy. Hard and exact facts will cool it."
Director of a string of successful films, including A Streetcar Named Desire (1951), On the Waterfront (1954), and East of Eden (1955).
HOW TO PRIORITIZE LIKE A MASTER SCULPTOR
Written by Jonathan Smith, March 9, 2020
"I was recently in the throes of an Annual Planning session with Dotcom Distribution, an awesome company that is doing amazing things in the world of e-commerce fulfillment and third-party logistics using EOS® as its business operating system.
"The leadership team rattled off several dozen outcomes they wanted to achieve. However, they were struggling to determine how to allocate them to the right compartments. Did they belong in their 10-Year Target™, 3-Year Picture™, 1-Year Plan, or quarterly Rocks?
Mary J. Haggerty, their CEO, and Visionary crystallized their question perfectly:
“How do we decide which goal should be in our 3-Year Picture versus our 1-Year Plan? And why does EOS create so many gradations in our goal-setting? What is the purpose?”
Read the rest of the story here (3 minutes)