PAIN to PROFIT$: Zimbabwe Tries the Gold-Standard, Gandhi As CEO, and How To Beat Big Brands At Marketing

PUL$E
Zimbabwe Introduces Currency Backed by Gold to Supplant Failing Dollar

Zimbabwe's introduction of a new gold-backed currency, the ZiG (Zimbabwe Gold), to replace its devalued local dollar is a strategic move to combat hyperinflation and restore economic stability. This development underscores the critical importance of trust and confidence in a nation's currency, offering key lessons for global economies, including the United States. Zimbabwe's experience highlights the dangers of excessive money printing, which led to severe inflation, diminishing the value of the Zimbabwe dollar and eroding public trust. In response, the ZiG aims to stabilize the economy by anchoring the currency in tangible assets like gold and foreign reserves, emphasizing the significance of robust reserves in supporting currency value.

For the US, the situation in Zimbabwe serves as a cautionary tale about the long-term effects of expansive monetary policies and the necessity of maintaining confidence in the dollar, the world's primary reserve currency. It underscores the importance of prudent fiscal policies, transparency in governance, and the maintenance of strong reserves to ensure economic stability and sovereignty. Additionally, Zimbabwe's challenges with political stability and governance reforms mirror the broader need for stable, accountable governance in upholding economic health and currency integrity.

As Zimbabwe navigates its economic recovery with the introduction of the ZiG, the episode offers valuable insights into adaptability, the importance of backing currency with tangible assets, and the role of trust and stability in maintaining the efficacy of national and global currencies. For economies worldwide, including the US, these lessons underscore the delicate balance between innovative monetary policy and the foundational principles of trust, stability, and prudent economic management.

$TREET $MART$ 
Why Gandhi Would Have Crushed It In Management

Leading yourself is step one on the journey to being a great leader. John Maxwell once said something that really sticks: before we can lead others and make moves in the world, we've got to sort ourselves out on the inside. When it comes to being in charge, there are three types of leaders you’ll come across: the Pragmatic ones, the Dreamers (Idealistic leaders), and those rare gems, the Pragmatic Dreamers.

Pragmatic leaders are all about the nuts and bolts – they're the "let's get this done" kind of people. Super valuable, but sometimes they can rain on the parade by finding faults in new ideas because, well, uncertainty is pretty uncomfortable for most of us. Dreamers, on the other hand, are the big vision folks. They're all about what the world could be and have this magnetic way of talking about the future. But, they often stumble when it's time to lay down the roadmap to get there.

Then, there’s the Pragmatic Dreamer, the leader we all aspire to be. They’ve got the magic mix: vision to see where we're going and the practical smarts to map out how we're getting there.

John Dewey and Mahatma Gandhi talked about something called Practical Idealism. Gandhi, in particular, was all about meshing the ideal world with what’s doable, focusing on being good and doing good in the here and now.

Reflecting on my own 11+ years leading and doing business, I’ve realized that being a leader isn’t about how charismatic you are or how many people you can motivate. It's not just about being a whiz at processes or finding the best people either. It's about your system – being able to replicate what works and consistently hit those goals.

The difference between a team that thrives and one that barely survives often comes down to how a leader sees the world. Lean too much into idealism, and you'll end up micromanaging because you can't figure out how to let your team fly on their own. Too pragmatic? You might become that perfectionist leader nobody wants to deal with, leaving everyone feeling burnt out.

So, here’s a thought for all you leaders and leaders of leaders out there: take a good, hard look in the mirror. Are you balancing your dreamer and doer sides? If you’re in charge of guiding other leaders, are you helping them find their balance, or do you need to have some tough conversations? Finding that sweet spot is what makes a leadership style sustainable, builds trust, and keeps everyone motivated toward success.

BRAND DAMAGE
“So you’re saying there’s a chance?”

TLDR: Big brands still don’t get it. You can’t buy a connection.

This is good news for anyone not leading an F500 company as their wasteful spending keeps a door cracked open for us smaller competitors.

By the end of reading you will see that regularly produced content and UGC(user-generated content) are King, Queen, Judge, and Jury over your business in the minds and hearts of customers.

Let’s unpack this quickly…

Sunday’s NCAA Women’s championship saw a record 18.7 million viewers.

Last night’s Men’s championship may surpass that when the numbers come out later today.

If you were unluckily one of the nearly 100 in-game advertisers hoping to cash in on Caitlin Clark or UCONN Basketball, you were likely just a cash cow for CBS and Turner Sports as they pulled in over a billion dollars in ad revenue for the second consecutive year.

Look at a few of the numbers floating around reaching customer;

• Early tournament commercial slots were around $300K.

• Final 4 and Championship games ran advertisers $2.3 a pop.

• Ad agency costs start around $63k and can reach millions just to make an ad.

Here’s the sad truth. Apart from the Super Bowl, a cultural event, consumers do not care about commercials.

They care about other people using the products and services advertisers are asking them to consider.

The following are findings from various national consumer surveys conducted over recent years;

• 92% of consumers turn to people they know for referrals above any other source.

• 84% of consumers say they trust peer recommendations above all other sources of advertising.

• Millennials trust UGC 50% more than the original content generated by the brands.

• 74% of consumers rely on social media to inform their purchasing decisions.

Here’s your takeaway; companies with large budgets and teams are still using tactics that worked 15 years ago and a strategy that is largely ignored by the very people they are trying to reach.

They’re surviving on brand loyalty of shrinking consumer bases.

They will smarten up and ultimately bend the knee to the will of today’s consumer as it relates to ad spend and brand strategy.

Look no further than partnerships like the NFL with, Amazon, and Peacock.

While the big boys are currently asleep or at best in denial, you have an opportunity.

What are you going to make of it?

Or better yet make something that your customers want to talk about.

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