Inducted as Honorary Life Member of Mississippi Economic Development Council

February 4, 2016

Today is a very special day for me as I was inducted as an Honorary Lifetime Member of the Mississippi Economic Development Council. Thanks to my bosses over the past 25-plus years: Kane Ditto, former mayor of Jackson, MS, Matt Holleman, former President & CEO of Mississippi Valley Gas Company (now Atmos Energy) and Marty Wiseman, former executive director of the Stennis Institute, Mississippi State University. Also, to David Rumbarger, CEO of the Community Development Foundation, Tupelo, MS, for nominating me, and my wife of almost 36 years, the beautiful and incredible Carol Hardwick.

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Phil Hardwick’s Strategy Letter, January 2016

January 2016

Greetings:

As I was planning and strategizing about the coming year I had the idea that perhaps I wanted to set a goal of being the best professional development trainer in the state. That’s because one of the things I’m doing more of is training for various state agencies, school districts, nonprofits and businesses.

Right in the middle of my processing this idea and how I would measure such a goal I interrupted my thoughts by opening my weekly email Star Thrower Clip of the Week. After watching it, I began thinking of my goals and strategies in a different way. The presenter suggested that instead of thinking about Being the best IN the world versus being the best FOR the world. Hmm. So instead of being the best professional development trainer in Mississippi I should be the best professional development trainer FOR Mississippi.

Imagine what would happen, especially in the world of politics for example, if our elected officials changed their thinking like that. Instead of your statewide official striving not to be the best elected official in the state, but being the best elected official for the state. And what if your member of Congress – oh heck, I won’t even go there.

Carry this thought over to business and community leaders – or anybody for that matter. What if your goal was to be the best __________ (fill in the blank) FOR the state rather than being the best in the state? I think it would make a difference. Indeed, I suspect it would change a lot of strategies.

And this does not apply just to the state. What if you were the best person for your organization?

The video clip mentioned above is only five minutes. It opens with a famous photographer discussing this idea and then introduces us to a lady in Scotland. That’s enough of a teaser. Here’s the link:

http://www.starthrower.com/t-clip-of-the-week.aspx#clip=1428786&time=0
Until next time,

Phil

The 7 things leaders have in common

Getting There: A Book of Mentors, by Gillian Zoe Segal contains interviews with 30 business leaders (Warren Buffett, Michael Bloomberg, Anderson Cooper, Sara Blakely, Jeff Koons, Kathy Ireland, Les Moonves, to name a few). She says that there are seven things they all have in common:

  1.  They understand their “circle of confidence.”
  2. They harness their passions.
  3. Their career paths are fluid.
  4. They create their own opportunities.
  5. They question everything.
  6. They don’t let fear of failure deter them.
  7. They are resilient.

To see more details about these seven “commonalities” check out her interview in this article in Fortune magazine.

Seems like the magic number is seven. If you’re interested in more research-based traits and characteristics of leaders, check out The Demands of Executive Leadership, by Barry Conchie. It’s a 2004 article (updated 2008). Here’s his list of “Demands” of leadership:

Visioning
Maximizing Values
Challenging Experience
Mentoring
Building a Constituency
Making Sense of Experience
Knowing Self

I often use both of the above in my leadership training sessions.

www.philhardwick.com

 

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The 7 states that are losing population

AN ECONOMIC DEVELOPMENT PRIMER FOR SMALL TOWN MAYORS

November 12, 2015

My latest column as printed in the Mississippi Business Journal

AN ECONOMIC DEVELOPMENT PRIMER FOR SMALL TOWN MAYORS

They come in all sizes and shapes and from a wide variety of backgrounds. Almost all of them are serving in their posts in a part-time capacity. Many, if not most, have had little training in the fundamentals and nuances of economic development. They are the mayors of small towns in Mississippi and other states across America.

In spite of their lack of formal preparation for the duties of their offices there are quite a few opportunities and resources to them once they take their oaths. The Mississippi Municipal League offers a wide variety of training options and resource materials. Universities, community colleges, state agencies and nonprofit organizations are available for technical assistance and advice.

The following is a basic economic development primer for mayors of small towns. It is actually an outline. Each of these 26 topics are themselves worthy of full-blown seminars. The purpose here is to give the reader a taste of what its like to deal with some of the subjects that small town mayors encounter on a regular basis. Note that it is presented in second person.

A is for Asset-based economic development. Identify the assets in your community that you can capitalize on.

B is for Plan B. The best leaders are the ones who can manage Plan B. Although planning is important, things do not always go as planned.

C is for CDBG, the Community Development Block Grant program.

D is for Decisions, which tend to be data-driven or values-driven.

E is for Economy. What drives your town’s economy?

F is for Followers. You are the leader; who’s following you – and what do they want?

G is for Goals, the mileposts along the highway to achieving the vision. Goals are SMART: Specific, Measurable, Attainable, Realistic and Time-bound.

H is for Heroes. Who is going to step forward when you need it the most?

I is for Incentives. Economic development prospects are driven by location, workforce and incentives.

J is for Jobs. Economic development is the process of increasing the wealth in your town through creation, recruitment and retention of jobs.

K is for Keystone, the central, topmost stone of an arch (an essential part).

L is for Legacy. A lifetime of achievement is often reduced to one incident or program. What will be your legacy?

M is for Meetings, especially productive meetings – with your board, with citizens, with developers and with prospects. The importance of the agenda.

N is for Numbers, or measurements, that will quantify your town’s progress. Data should be determined early in your administration and tracked on a regular basis.

O is for Observation. Stop looking for the answers you expect to find. As Yogi Berra said, “You can learn a lot by watching.”

P is for People, or demographics. Know and understand your people.

Q is for Quality. If anything is worth doing, it is worth doing well.

R is for Responsibility. Most strategic plans fail because there is no accountability or responsibility. Hold people accountable.

S is for Story. What is your town’s story, and how can you capitalize on it?

T is for Taxes, especially tax incentives.

U is for Unique. What makes your town unique?

V is for Vision – your vision and your town’s vision.

W is for World View. How does globalization affect your town?

X is for X-Ray. Have some outside expert look “into” you town.

Y is for Youth, the future of your town. What do they think about the future? Do you have a Mayor’s Youth Council?

Z is for Zeal, the synonym for passion. One big difference in towns that succeed and those that do not is passionate leadership.

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Phil Hardwick is a regular Mississippi Business Journal columnist and owner of Hardwick & Associates, LLC, which provides strategic planning facilitation and leadership training services. His email is phil@philhardwick. com and he’s on the web at http://www.philhardwick.com.

The most important clause in a real estate contract.

October 15, 2015

The typical real estate contract has tens, sometimes dozens, of clauses. Each is important, but there is one clause that is generally considered the most important clause in a real estate contract, and in all contracts for that matter.
If you had to guess, which of the following would you say is the most important clause in a real estate contract:

a. the price to be paid
b. the amount of earnest money
c. the legal description of the property
d. the remedies for breach of the contract

The most correct answer is “d,” the clause that provides the remedies for breach of the contract. Simply put, the remedies for breach clause is the one that states what happens if one of the parties defaults on the contract. Although it is true that if there were no description of the property or the price to be paid there would not even be a contract because there would not be a meeting of the minds, and therefore no contract. However, the question as stated assumes that there is already a contract.

For example, most residential real estate contracts have a clause stating that the buyer has deposited a sum of money known as earnest money with the real estate broker. Earnest money is often called “good faith” money because it shows that the buyer is serious about going through with the transaction and that he or she has something to lose if they back out of the contract. Because most residential real estate purchases are financed there is usually a contingency clause that states that if the buyer is not able to obtain financing at a certain rate by a certain date then the contract is void and the earnest money will be refunded. But what if the buyer simply backs out of the transaction and states, “I’m not going through with this deal?” That’s when the remedies for breach kick in. The clause may state that the party can go to court and sue for damages, pay a certain amount for damages, etc.

Let us move to other types of contracts. One of the more common remedies for breach clauses in business contracts nowadays states that in the event of a dispute the parties will arbitrate the matter instead of going to court. For example, a certain telecommunications company has this clause in its contract with users, “You agree that, by entering into this Agreement, you and (the company) are each waiving the right to a trial by jury or to participate in a class action.” This type clause is getting a lot of attention these days because some consumer advocacy organizations are challenging arbitration clauses.
Many Democrats in Congress are urging the federal agency that regulates consumer finance to ban mandatory arbitration clauses altogether. The Dodd-Frank Wall Street Reform and Consumer Protection Act required that the Consumer Financial Protection Bureau (CFPB) study arbitration agreements and provide a report to Congress of its findings. The report was submitted to Congress in March 2015. It is 728 pages in length, and can be found on the CFPB website. It mostly applies to banks, credit card companies and other types of lenders.

In today’s Internet and digital world there is a form of contract known as an End User License Agreement (EULA). These are those agreements that users of computer programs, applications and various software pop up before downloading. Most users probably never take the time to read what they are agreeing to. I suspect that it is because the agreements tend to be lengthy and that the user believes the benefits outweigh the risk of such agreements. Also, many of these agreements contain a clause such as:
“(The provider) reserves the right to update and change, from time to time, this Software License and all documents incorporated by reference. (The provider) … may change this Software License by posting a new version without notice to you. Use of the … Software after such change constitutes acceptance of such changes.”

Is there really a contract if one of the parties agrees that the other party can change the agreement without notice?

Finally, full disclosure. This columnist is not an attorney, and this information should not be considered legal advice. The intent to show the importance and use of contracts in daily life. And even though it is not practical to call an attorney every time a person or business enters into a contract, it is important to know that for certain contracts an attorney should always be contacted. Common sense is a good guide.

How to make schools better for kids

September 28, 2015

“How to make schools better for kids” (subscription required) is the title of a thought-provoking piece in the September 7-14, 2015 issue of TIME Magazine. The author, Alexandra Sifferlin, eight suggestions that are worthy of discussion.

  1.  Ditch traditional homework – One school did just that and replaced it with a requirement to read something – anything – for 30 minutes a night.
  2. Make recess mandatory – In the past few years, 40% of U.S. school districts have eliminated recess. The kids need it to recharge and to deal with weight problems.
  3. Screen kids for mental illness – They get screened for other things. Mental issues can be dealt with more effectively if diagnosed early.
  4. Prioritize diversity – U.S. schools are more segregated than they were in 1988.
  5. Turn disciple into dialogue – One school did it, and reduced classroom disruption incidents from 103 to eight.
  6. Let students customize their curriculums – The article mentions Knewton, a virtual platform that adapts to a students needs.
  7. Start classes after 8:30 a.m. – No comment needed here.
  8. Design cafeterias that encourage healthy eating.