A few friends, all professors in the business departments of some pretty impressive universities, were discussing a last lecture for every class. In September 18, 2007 Randy Pausch gave a now famous presentation at Carnegie Mellon, subtitled “achieving your childhood dreams”. Watch a video for more …
Pausch in his battle with cancer offered some interesting ideas:
• The brick walls are there for a reason. The brick walls are not there to keep us out; the brick walls are there to give us a chance to show how badly we want something. The brick walls are there to stop the people who don’t want it badly enough.
• Experience is what you get when you didn’t get what you wanted.
• Show gratitude.
• Don’t complain; just work harder.
The group collectively wanted to identify and create a last lecture for each class. Their first test was targeted at Business 101 an overview, intro course. They developed these ten points.
1. Foundations of business – Three ball juggling-practice keeping Customers, Employees and Owners/stock holders happy.
2. Ethic and Social – Act as if- Act as if your Mom was there. Treat people, the public as you wish to be treated.
3. Forms of ownership and managing business success – A Fortune 100, Mid Cap or Family Owned all have some striking similarities. (Re-read 1)
4. Hiring and Keeping the right people. The best businesses nurture, encourage, promote and folks who challenge the status quo.
5. Teamwork should be spelt communication. Leaders inspire others to dream, to learn and become more… (JQ Adams)
6. Value and Pricing – Amazon continues to grow with by giving customers the lowest prices. Value is created in many ways but low prices and value are cornerstones to real growth.
7. Design, development and innovation – Make no mistake each is unique. Innovation can be random, or cultivated.
8. Operations management and Service – like life they require metrics and Hawthorne lives!
9. Accounting, financial, legal and Information Technology – You, your business needs all four. In today’s market this maybe is a case of OPK, other people’s knowledge. Hire or rent an expert.
10. The Customer is King.
Networking is the path to growth. Philosophy must be share- knowledge skills tools. Have a war room mentality. Integrity is everything. Everyone is important.
Finally, lead people, live a positive culture, make thoughtful decisions and Produce Results.