Jeff Steen
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Articles by Jeff Steen
Acres of risk: The most viable option for investors might be to reduce their California ag exposure
California agriculture — a reliable and star performer for institutional capital over the past 20 years — is facing a number of significant, acute and persistent challenges due to climate change. Investors are at risk of more than just lower returns on those assets; there is even potential for capital impairment of their ample and growing farmland portfolios thanks to its impacts.
Perishable Pundit mailbag: Why British Energy Prices are increasing faster than Europe
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Pundit’s Mailbag — Why British Energy Prices Are Increasing Faster Than Europe - Jim Prevor's Perishable Pundit
We ran a piece titled, Will Climate-Change Fanaticism Bankrupt The West? Though responses mainly have been in agreement, the article received this passionate objection: Please do a bit of research into why British energy prices are increasing before publishing an opinion piece not based in fact.
This Is the #1 Reason Why 65% Businesses Fail in the First 10 Years — And Many Founders Still Don't Get It
During the downswing of the pandemic, UCLA student Manaav Mehta launched a business. It wasn't complicated or grandiose, but it fit the moment: a platform called Bolo that allowed students to carry on seamless conversations about coursework, extracurricular activities, and college life without the headache of setting up different processes and tools for different use cases. Even better, it connected to the school's database and was entirely secure.
What's Really Behind the False Apology: Why Some Companies Are Still Bungling DEI
In her recent deep-dive into diversity, equity, and inclusion (DEI) in business, Harvard Business Review's Lily Zheng highlights a few high-profile apologies for DEI missteps, including the Spotify-Joe Rogan incident, featuring vociferous public condemnation of Rogan over racist language and Covid-19 misinformation. As she notes, this was merely a symptom of a bigger issue: Companies often don't understand how to apologize, nor do they know how to handle DEI.
Elon Musk Reveals That His 'Question Philosophy' Is What Vaulted Him to Success While Others Failed
Earlier this month, Forbes reported that Elon Musk was worth almost $265 billion. That's enough of a success metric for many, but there are other markers too: The founding of Tesla and SpaceX sitting at the top of the list. In broader scope, he is pushing the limits on electric and self-driving cars and setting new bars for space travel. Now, rumor has it he's eyeing ownership of Twitter. How on earth did he accomplish all of that by the relatively young age of 50?
McDonald’s Employee Charms Customer With a Hilariously Simple Tactic. It's the Best Model of Customer Service I've Seen Original
In an age of customer-always-right-ness -- to the point of occasional absurdity -- the question of what makes customer service "good" forever floats in business circles. It even makes its way into interviews, giving candidates an opportunity to demonstrate their willingness and capacity to go above and beyond to secure not just a single sale, but cement long-term customer relationships.
“Always on Call”: Microsoft’s Satya Nadella Warns This 1 Remote-Work Habit Is Destroying Our Wellbeing
It was probably bound to happen. When the pandemic pushed many employees to at-home work, the already-fading lines between professional and personal blurred beyond recognition. This isn't just anecdotal fluff; Microsoft recently conducted research that revealed about a third of white-collar workers dig in for more work late in the evening, evidence that set work hours are no longer a given.
Study Shows 74 Percent of Introverts Don’t Want Full-Time Remote Work. They Want This Instead. Original
As masks come down and Covid restrictions ease, offices are opening their doors to employees again -- for some as an option, others as a requirement. There's been a lot of ink spent on the pros and cons of these hybrid work policies, much of which touches on three key considerations: safety, productivity, and employee preference. That last one is a sticky wicket.
In 6 Words, Netflix Co-Founder Reveals How the Company Dominated Entertainment. It’s Not What You’d Expect.
Some would say Marc Randolph is an entrepreneur's entrepreneur. He's got the success story so many startup founders dream of: a radical, industry-upheaving idea that is now shaping what the entertainment world looks like. That idea? Netflix -- a now incorporated monolith that boasts a yearly revenue of upwards of $25 billion. Surprisingly, perhaps, Randolph's motivation is not dollar and cents. It never was.
The Surprising Thing That Makes Tim Cook’s Morning Routine Remarkably Successful Original
Yoga. Meditation. Reflection. Writing. Exercise. You name it, it's been folded into the morning routines of countless C-levels over the years in untold variations. Indeed, morning routines are an individual practice, as variable as the companies American CEOs helm. Still, there are common threads -- most of which deal with personal wellbeing and productivity. For example, Sundar Pichai reads the paper -- both to inform himself and to spark mental engagement before his harrying schedule kicks in.
The World's Top Journalists Use This Checklist to Avoid Disastrous Mistakes. I Used It for a Week and My Performance and Confidence Have Skyrocketed
What CEO has time for reflection? Few. And yet, I'm constantly urging those at the top to take a breather -- to meditate, think, examine. In the words of researchers at MIT: "The process of reflection helps us to develop our understanding more deeply and to make our intuitive knowledge shareable with others." This includes a close look at our mistakes. As I realized recently, more concretely defining those mistakes can help us avoid them in the future -- by adding them to a reflection checklist.
The ‘Anticipation Error’ Is Turning Leaders' Decisions Into Costly Disasters. There's an Easy Way to Avoid It Original
In late 2019, the Harvard Business Review published an article on decision-making -- slow decision-making. It cited a stat from research company McKinsey & Company that noted 74 percent of new leaders say they're unprepared for their new role. In many cases, argues the article's author, Constance Dierickx, this is because of hasty judgment calls and snap decisions. Part of this is fueled by the "Anticipation Error." If you've ever spent any time in a newspaper's bullpen, you know this well.
In 14 Words, Starbucks CEO Howard Schultz Reveals the Real Reason Why So Many Employees Don’t Trust Their Leaders Original
Howard Schultz is something of a legend. Under his watch, Starbucks expanded to become the largest coffee-house chain in the world. He took the company public to the tune of $271 million in 1992. And after stepping down in 2000, he came back -- twice. The first time to help the company weather recession storms and, most recently, to serve as interim CEO following the retirement of Kevin Johnson. It's not all been lattes and roses for Schultz, however.
The Apple Watch Saved This Young Man's Life. Tim Cook's Response Is a Powerful Lesson Original
Just last week, a man in India was saved by his Apple Watch. Sounds a bit dramatic, but it's true: Nitesh Chopra, only 34, was feeling a bit off. So, his wife, Neha, asked him to take the ECG on his Apple Watch. When irregularities appeared, he was rushed to the hospital where doctors found 99.9 percent blockage in his arteries. Thanks to the forewarning, they were able to place a stent in his heart and avoid a devastating -- possibly deadly -- heart attack. That would be a touching story on its own.
I Tried Sundar Pichai's Non-Meditation Technique to Curb My Stress. It's 10X Better Than a Morning Routine
There are countless ways to curb stress, but so many seem to require long-term commitment -- ongoing routines, schedule shifts, daily activity. For some, the idea of implementation is just an added strain. That's why when Google CEO Sundar Pichai recently revealed one of his pandemic-era techniques for keeping stress at bay, ears perked up. It's not meditation. It's not diet. It's not journaling. It's a collection of non-sleep deep-rest (NSDR) podcasts.
Microsoft Only Needed 10 Words to Completely Upend Its Hybrid Work Plan. It's the Best I've Seen Yet
Another article on office-to-remote-to-hybrid working models? Yes -- well, sort of. We've all read reams about the clumsy juggling act that seeks to define the new "digital normal," and most of us have opinions about whether remote work is sustainable.
Why the 'Red Line' Rule Can Make or Break a Company. Most Leaders Don't Even Think About It
I recently had the privilege of taking a Poynter Institute course on editing. It was a reminder in broad strokes of what to do and not to do -- not just as the mechanics of editing go, but the editor-writer relationship as well. Largely, the message centered on the editor as a coach, the champion of the writer as opposed to the nagging nitpicker many envision.
The 3-Step Daily 'EDM Routine' Keeps You Focused & Energized All Day. You're Doing Most of It Already
The problem with most routines? Adoption. And, well, time. Oh also, interest. Okay, there are a few problems with "do better, be better" routines -- chronicled eloquently by Marina Koren in The Atlantic. What if, however, your routine is something you're already doing? There might be a few pieces missing, mind you, but the structure is there -- the motions are there. It's just a matter of making a few tweaks and seeing the ripple effects in the day-to-day.
The Surprising “Disinhibition” Technique Is a Powerful Way to Stop Overthinking, According to Harvard Research Original
Research has shown overthinking is a pervasive problem in the U.S. One study in particular revealed that nearly three-quarters of those aged 25-35 overthink. How do they define overthinking? As most of us would, I imagine: A torrent of negative thought and associated emotion sparked by relatively innocuous triggers. Much of it is framed by what- if scenarios that give the imagination plenty of room to run free in the wilderness of negativity.
Trailblazing Female CEO Reveals the 1 Thing That Was Almost Her Undoing, And How She Made It Her Superpower Original
The old adage holds trust: Practice makes perfect. The problem is, there's a gloss to it that ignores what's really at the heart of practice: Imperfection. To be sure, we love to talk about failure on the road to success. J.K. Rowling (among many other literary noteworthies) endured countless rejections from publishers until, finally, she landed a win. The CEOs who endured business flops on their way to success are legion.
Prominent CEO Survey Reveals a Critical Challenge for Business in 2022 That No One Has Been Talking About
Earlier this year, research and professional services company Deloitte published a survey of CEOs on the "state of the union" for business. The findings are largely unsurprising: Companies are struggling to engender trust among stakeholders thanks to a poor grasp on DEI and unsatisfactory employee experiences; supply chain issues continue to hamper production and growth; and talent retention has become a top priority owing to the Great Reshuffle.
Apple's Most Important Product Is Also Its Most Personal. Here's Why that's Such a Brilliant Strategy Original
Tim Cook was quoted once as saying, "If you zoom out into the future and you look back and ask the question, 'What was Apple's greatest contribution to mankind?' it will be about health." Really? Health? Not reimagining how we engage with technology or communicate? I was skeptical when I heard this during a recent interview with Apple's VP of Health, Dr. Sumbul Desai, but as the interview progressed, I realized that Cook might just be right. Why?
This Transgender CEO Has a Hiring Lesson for All Business Leaders. It Upends What We Know About Diversity and Inclusion.
As the CEO of Sweden's ICA Insurance and an accomplished international businessman, Carl Farberger was high profile. But that didn't stop him from telling his team in September of 2018 that he would no longer be known as Carl. From that point on, he would be Caroline Farberger -- the first openly transgender CEO in Sweden. Since that day, Farberger has received significant praise from Swedish and international groups and media, noting her contributions to the LGBTQ community.
1 in 3 Americans Suffer From 'Serious Loneliness' -- and It's Worse for Business Leaders. This Simple Mind Shift Can Help Original
Loneliness -- we've all been there. In fact, it's peaked during the course of the pandemic. A Harvard study conducted last year revealed that 36 percent of Americans have lately felt "serious loneliness." Break that down into demographic subgroups and the numbers are even more striking: Sixty-one percent of young adults and 51 percent of mothers with young children suffered from being involuntarily alone.
Google's Sundar Pichai Just Announced a $100 Million Educational Fund. It Might Mean the Beginning of the End for College.
A few days ago, Sundar Pichai announced a $100 million Google Career Certificates fund. It's got nothing to do with college education, and instead, focuses on giving up-and-coming data analytics, IT, project management, and UX design students the tactical tools needed to start their careers with a bang. It follows in a long line of similar efforts by coding bootcamps across the country and online educational portals like Udemy and Coursera. To all of this I say: Thank goodness.
This Is What’s Wrong With the $99M Pay Package for Tim Cook — And It Has Nothing to Do With Money
CEO pay in the United States is a hard thing to wrap your head around. In theory, it's based on company performance -- in the case of publicly traded companies, it's measured in large part on stock prices. Stock goes up, shareholders make money, shareholders vote to pay the CEO more. But there's a disconnect. Shareholders aren't voting on actual CEO performance, they're voting based on rises (or decreases) in stock price -- really, what affects their own income.
How the Stoplight Review Method Helped Me Cut Dozens of Meetings, and Made My Team Very Happy
This won't shock you: Sources have shown meetings swallow up more than half of execs' work time in a week. I've written about this before, offering guidance from the late Steve Jobs on keeping meetings lean, thoughts on how to categorize meetings to cut the fluff, and ways to engage meeting participants so they aren't forever heads-down on their phones. All of that is helpful, to be sure, but it's dependent on the meeting organizer to execute.
Forget Bucket Lists. The Formula for Satisfaction Is Actually the Opposite, Says Harvard Professor
Through the world of Simon Sinek, I recently stumbled across the incomparable Arthur Brooks. He's a bit of a renaissance man: scientist, musician, former think tank CEO, Harvard professor. And he's one of the most articulate people I have ever heard speak. A social scientist by training, Brooks was hosted on one of Sinek's A Bit of Optimism podcast episodes a short while ago and shared something revelatory: We should all dump our obsession with bucket lists. Reverse bucket lists are where it's at.
This Legendary Morning Routine Dates Back to the 1700s. Its Success Is Due to Something Most People Still Don’t Get.
Somewhere between wrangling Congressional delegates to sign the Declaration of Independence and preparing to serve in France as one of America's earliest ambassadors, Benjamin Franklin conjured up a morning routine. It was, some argue, the first of its kind and the spark that set off our 200-year-old obsession with sacred morning rituals.
Daniel Pink Just Tweeted A 1-Sentence Fix for a Mistake Almost Every New Leader Makes. It's Astonishingly Simple.
If you've spent any time in the world of politics, sales, or productivity boosting, you know Daniel Pink. He's authored countless best-selling books (e.g. To Sell Is Human) that supercharge efficiency, confidence, and leadership. Recently, he published a book called The Power of Regret, for which he collected some 16,000 regrets from individuals across numerous countries, industries, and backgrounds.
High-Profile Study Reveals Why Most Meetings Are Ineffective. It Only Takes One Simple Step to Fix It
Meetings, meetings, meetings. We all suffer from an overabundance of meetings. It seems to be our reflex whenever there's a bump in the road. "What do we do now? Let's call a meeting." As Harvard Business Review reported back in 2019, however, meetings are often ineffective. Their deep dive into meeting culture is worth a full look, but this stat (highlighted from a TED study) stood out to me: 73% of those who attend meetings use the time to do other work. Why?
Apple Was Facing Intense Pushback From Employees. Its Response Is an Example for Every Business
On February 8, Bloomberg shared some long-awaited news about Apple: retail employees are getting a boost in benefits, effective April 4. Specifically, the article noted, store workers will get double the paid sick days, more annual PTO, and paid parental leave. Undoubtedly, the move is influenced by the impact of The Great Resignation -- and perhaps a touch of employee dissatisfaction over CEO Tim Cook's handling of remote/flexible work during the summer of 2021.
Melinda French Gates Shifts Her Wealth Away From the Gates Foundation. Her 1-Sentence Reason Turns Modern Leadership Upside-Down
When you're as high profile as Melinda French Gates, the world tracks your movements. For years, we followed the investments, speeches, and engagements of the co-founder of the Gates Foundation as she decided where her philanthropic donations would fall. Even before the divorce, Bill and Melinda were a giving power couple, elevating the importance and impact of regular philanthropy -- especially for those of means. Recently, however, she has changed course -- somewhat.
Mark Zuckerberg's Vision of VR Utopia Has a Very Big Problem and It Has Nothing to Do With Privacy
Last week, metaverse-happy Meta (formerly known as Facebook) revealed a change to their Horizon VR environment: an invisible "personal space" boundary around avatars that keep others from getting too close. That didn't take long, did it? Recently, I wrote about Tim Cook's reluctance to dive headlong into the AR/VR space. Primarily, his comments dealt security concerns.
The 1 Thing Bill Gates Says He Should Have Done in College to Make Him More Successful
The fourth-richest man in the world (as of December 2021) has few regrets when it comes to his educational past. The founder of Microsoft, Bill Gates, is an icon for many reasons: He introduced us to the personal computer, the Windows operating system, and Microsoft Office -- all of which have become ubiquitous. And he did all of this after dropping out of Harvard after only two years. Which makes you wonder: How much more might he have accomplished if he had completed his degree?
A Parental Leave Campaign on LinkedIn Is Going Viral. The Lesson for Business Has Nothing to Do With Families.
If you spend any time on LinkedIn -- or devouring business trend newsletters -- you've likely seen the #ShowUsYourLeave campaign surface. Originated by theSkimm (a newsletter designed to "make it easier to live smarter"), it calls on companies to post their parental leave policy for public review. The response has been dizzying.
In 1 Sentence, Tony Robbins Reveals How to Avoid the Mistake That Dooms So Many Leaders
I'm not much of a Tony Robbins devotee, but he's popular for a reason. His advice has helped millions create clarity, direction, and purpose in their personal and professional lives. I suppose I'm trying to do something similar in a much more reserved way. But let's lean on the master. In a recent post I uncovered on his website, he connects the dots between two frequently disparate things in the life of a business leader: focus and energy.
This 20-Year-Old Study Explains How the Best Leaders Avoid the Biggest Challenge of the Pandemic: Burnout
CEOs -- especially those still framing their companies and juggling a pantheon of roles -- are some of the first in the business world to suffer overwhelm. This is hardly new; The Harvard Business Review tracks this phenomenon back to the 1980s. And the trend continues, as highlighted in a 2018 article in Bloomberg, noting that only one of three newly minted CEOs feels prepared to do the job. As you might imagine, a sea of articles has flooded the internet to address this problem.
Tim Cook Just Revealed Apple's Plan for Expansion into AR/VR. It's the Opposite of Facebook Original
Apple is notably late among its tech peers in the race to the metaverse (augmented reality and virtual reality). In fact, CEO Tim Cook doesn't even like using the word, and its headset is rumored to be at least a year away. Of course, Apple's strategy isn't just about building a headset; their primary concern is privacy. Facebook, meanwhile, is all in on AR/VR.
Former ULTA Beauty CEO's Career-Long Success Comes Down to One Rule: No BS Original
You may not have heard the name Mary Dillon, but you almost surely have heard of ULTA -- the mega-beauty business with countless fragrance, cosmetics, nail, bath, and body products distributed across the U.S. The brand is so popular, in fact, it posted $2 billion in sales in the third quarter of 2021. For many years (2013-2021) Dillon helmed the company, a woman whose now storied rise to corporate success began modestly with stints as a waitress and house cleaner.
Google CEO's 1-Sentence Response to Getting Called Out by Employees Is a Master Class in Leadership
In the hullabaloo that often marks the holiday season, Google CEO Sundar Pichai took time at an all-hands meeting to address a critical employee concern. The question was piercing: It seems like responses to [employee questions] have gotten increasingly more lawyer-like with canned phrases or platitudes, which seem to ignore the questions being ask. Are we planning on bringing candor, honesty, humility and frankness back ... or continuing down a bureaucratic path?
How You Can Use the ‘GLAD’ Rule to Overcome the Misery of Meetings
Meetings are a drain. They're often unproductive -- owing to poorly organized (or absent) agendas, wayward oversight, and directionless conversation. Even thinking about it sends some into a tailspin. How do you fix it? Treat your meeting like a presentation. The first part is the delivery of the message; the second should include a quick, time-limited Q-and-A and define action items.
The Number-1 Anxiety-Busting Resolution You Should Make in 2022: Stop Apologizing
Breathe. Pause. Focus. Sleep. Exercise. Diet. There are many ways to fight the "anxiety demon," as I've written about in several articles. While I continue to parse its triggers and manifestations, I've come to a simple but startling conclusion: Many who suffer from chronic anxiety are also chronic apologizers. Digging into this, I stumbled across a not-so-surprising link between OCD behaviors and constant apologizing.
Chipotle's CEO Boosted Revenue by $2 Billion Using These 2 Simple Techniques. Any Business Can Use Them.
America loves a good redemption story. While you probably wouldn't think of Chipotle as a business in need of redemption, it was suffering a bit when CEO Brian Niccol took the helm in 2018. For many years, Chipotle was soaring -- adding 200 restaurants a year at one point -- with a bright future ahead. The problem? Food integrity and customer service were taking a hit. Niccol recognized this as soon as he took the reins.
This Simple "Fewer-Farther" Rule is The Key to Winning Your Next Argument
When we're making a case for something we believe in or greatly desire, our tendency is to argue for it until we're blue in the face. We heap point on point until the person (or people) we're trying to convince have no choice but to concede. Or, at least, that's what we think we're doing. A TEDx Talk by Dr. Niro Sivanathan, associate professor of organizational behavior at London Business School, reveals something quite different. The opposite, in fact.
Want to Keep Your Best Employees? This Is What They Really Want, According to a New Survey
Methods for fighting the Great Resignation are everywhere now -- and rightfully so. Instead of businesses dangling a carrot in front of job-hungry top-tier candidates, they're now chasing the best and brightest. So what benefits do top candidates really want in a job? Simple: paid time off. There's a bit more to it than that, according to a recent study by benefits company Unum, but the essence of it is rest and well-being. What does that look like?
This Simple 4-Step Method Helped Me Cut My Anxiety Dramatically and Improve My Mood. It's So Easy to Remember
For years now, I've wondered what triggers are responsible for my anxiety attacks. I've hashed it out with therapists, talked about it with colleagues and friends, and spent many hours parsing it in my own head. For anyone who struggled with chronic anxiety -- including the ever-pressured business set -- you know that fits of anxiety emerge at inopportune times. They derail meetings, focus sessions, presentations, conversations.
In 1 Sentence, Walgreen's CEO Roz Brewer Reveals What We Still Don't Get About Equality -- and How We Can Get It Right Original
In late 2021, CEO Roz Brewer of Walgreens Boots Alliance sat down with The Harvard Business Review for a chat. The thrust of the interview? Empowering employees, the importance of learning the inner-workings of business, and the problems we still face in diversity, equality, and inclusion (DEI).
This Leadership Approach Is Damaging Careers. A Harvard Business Review Study Explains Why
In the wake of the Great Resignation, many business leaders have frantically sought ways to keep their best talent on board. There's no one-size-fits-all solution, of course -- it depends on industry, available resources, business makeup, and at least a dozen other factors. There is one recurring best practice that seems to have consistent impact, however: Offer professional development.
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