Local Economy Multipliers | Michael H. Shuman

Local Economy Multipliers | Michael H. Shuman

#30: Local Economy Multipliers | Michael H. Shuman

Shop local is a mantra we’re hearing – and hopefully practicing – more often these days.   Did you know we can also invest local?  Michael H. Shuman is an expert in local economies.  He’s a lawyer, economist, entrepreneur, author and activist when it comes to local.  We cover the positive social and economic impact of local investment and talk about challenges and new solutions local business owners face.  Hint: those that innovate – teaming up with like-minded small businesses in their vicinity, crowdsourcing, engaging their customers – are more likely to thrive.

Show Notes

“Local businesses spend more of their money locally, and with those local relationships, what happens is that money stays in the economy. And you get the multiplier effect, which generates more income, wealth and jobs.”

– Michael H. Shuman

Home-growing a local economy

Around the holidays we often hear the rallying cry to “shop local.” We also hear that it boosts the local economy. Michael H. Shuman is here this week to share the true magnitude of just how important this is for local communities. He also clarifies what constitutes a local business and how they interact with and enhance their environments.

Local businesses have new sets of challenges that also require new solutions. Those that innovate – teaming up with like-minded small businesses in their vicinity, crowdsourcing, engaging their customers – are more likely to thrive.

Finally, the ability to invest in local businesses through self-directed IRAs and solo 401(K)s is becoming easier and provides a bridge between investors and local business owners.

 

All indicators rise with more local businesses

[10:06] “Regression analysis of communities across the United States [shows] that in those communities with the highest density of locally owned business, there’s the highest per capita job growth rate. And another study from the Federal Reserve in 2013 shows that when you look at counties across the United States and those counties with the highest density of locally owned business, there’s the highest per capita income growth rate.”

[11:03] “They are part of [communities] through volunteering, working through schools, supporting schools, etc. And it shows that in communities with a high density of locally owned business, there are higher rates of volunteership, higher rates of voting, higher rates of engagement in charities, higher rates of social stability.”

 

Collaboration is key

[12:46] “My biggest piece of advice to a local business proprietor is, stop acting alone, you don’t have the bandwidth to do everything you need to do to succeed. What you do need to do is bring in partners…partners in your ownership. I would bring in some of your customers as co-owners of your business, and also as helpers in the decision-making of your business.”

[28:16] “It’s pretty hard for one local business, especially a small one to take this initiative on his or her own. But if you have a collection of 20, or 50, or 100, businesses working together, these are problems that can be solved. The COVID-19 pandemic has been an invitation to local businesses who’ve been struggling to think about how to pursue their business model a little bit differently, a little bit more collaboratively.”

Partnering with other businesses can take many forms, such as collectively buying foodstuffs and equipment if you’re in the service industry, to bring down unit costs and become more competitive – establishing themselves as a mainstay in the business arena.

 

Female and minority-owned businesses are setting new standards

[16:18] “What we’ve seen with investment crowdfunding is that a half-million Americans put about $370 million into 1500 businesses. The most disproportionately successful businesses have been those run by women and people of color, those are the ones who have welcomed in grassroots ownership, grassroots partners. And also it represents the people who were locked out of the conventional capital markets. All of these outgroups are innovating in a different and exciting way.”

 

Michael H. Shuman’s website and more resources:

https://michaelhshuman.com/

https://twitter.com/smallmart

https://www.facebook.com/MichaelHShuman

 

By purchasing through Bookshop you’ll support local, independent bookstores. Rise Leaders is an affiliate and may benefit from your purchase.

Put Your Money Where Your Life Is: How to Invest Locally Using Self-Directed IRAs and Solo 401(K)s:

https://bookshop.org/a/16835/9781523088904

 

The Local Economy Solution: How Innovative, Self-Financing “pollinator” Enterprises Can Grow Jobs and Prosperity

https://bookshop.org/a/16835/9781603585750

 

Local Investing Groups & LIONs:

https://www.locavesting.com/how-to-invest-local/local-investing-groups-lions/

 

Turn Compost:

https://www.turncompost.com/

Interview with Turn’s founder Lauren Clarke:

https://rise-leaders.com/lauren_clarke_turn/

 

Sign up for Rise Leaders newsletter for episode announcements and an always-updated list of resources:

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To discuss executive coaching, leadership development program design, and workshop facilitation, please visit: https://rise-leaders.com/contact-info/

I specialize in helping leaders and organizations thrive.  Reach out if there’s a way I can support you.

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Local Economy Multipliers | Michael H. Shuman

Own Your Attention | Seth Braun

#29: How to Own Your Attention | Seth Braun

Our attention is in demand.  It’s up to us to know how to keep it focused on what matters most so that we spend more time enjoying what’s in front of us:  other humans, nature, pets, art, etc.  Managing our attention also provides a pathway for bringing our unique gifts to the world. Join me and Seth Braun as we explore the grander implications of Attention Management and a few strategies for living and working with intention.

Show Notes

“This isn’t just about squeezing more productivity out of the machine…we get discouraged, disheartened, and we give up on the things that are important to us. So one of the most important things that I see in this is to come back to what’s important to me.”

– Seth Braun
Stagen Leadership Academy

Mindful Life, Better Living

Today we have more distractions than perhaps at any time in history, with our attention bought and sold as a commodity; our electronic devices tempting us with the promise of instant gratification. With so much vying for our attention, the question becomes: How can we navigate life in a way that’s meaningful, purposeful, and creative?

Attention management is a set of practices and habits that helps us increase the time we’re present, minimize distractions, and find flow. There are 4 zones to engage in: proactive, reactive, distraction, and waste. This week Seth Braun discusses Stagen’s Attention Zones model and how being mindful of these states can help us plan for and allocate time effectively. Ultimately it can help us bring our unique gifts to the world by engaging in life in a satisfying and productive way.

Beware the Distraction and Waste Zones

[9:59] “I’m not going to tell you that Netflix is a distraction. Consider: what in your life is a distraction – and what’s rejuvenating? There are certain things that I do in my family, like watching Netflix, where we laugh, and we have endorphins, and it’s rejuvenating, and it’s family time. It’s great. But then, where I start binge-watching and it’s 11. Then it’s 12…now I’m in a waste zone.”
A “lazy” activity isn’t always considered wasteful by default. Sometimes it’s what we need. However, there’s a point of diminishing returns, and we must consider the balance.

[19:20] “Most of us don’t come into the world highly disciplined, able to sit down and do the work. We need structures and practices to help us do that, including your 10-minute waste time.”
Even “wasteful” time has its place in preparing you to be proactive.

Be Guided by Your Ideals

Generally, anything in the proactive zone (with focused work) doesn’t come naturally and requires an act of volition.
[19:50] “Any act of creation or volition, whether it involves anything involving exercise or starting a business. Anything that’s…creative is going to have resistance.”
[33:30] “The most important thing we can do to live a fulfilling, satisfying life is (to) have an ideal. Keep track of it each week, when we’re planning our week, say, here’s what’s important to me, and I’m willing to go forward again.”

To learn more about Seth Braun and the Stagen Leadership Institute please visit:
https://stagen.com/
https://www.linkedin.com/in/sethdbraun/

Stagen’s Attention Management Core Practice Sheet
https://rise-leaders.com/wp-content/uploads/2020/11/Stagen-Attention-Management-Core-Practice-Sheet.pdf

Benjamin Franklin’s Autobiography:
https://www.amazon.com/Autobiography-Benjamin-Franklin/dp/B08C9616WW/ref=sr_1_1_sspa?dchild=1&keywords=benjamin+franklin&qid=1605824734&sr=8-1-spons&psc=1&spLa=ZW5jcnlwdGVkUXVhbGlmaWVyPUExQklORjUySDVOTUo3JmVuY3J5cHRlZElkPUEwNTAxNzU5MkQ3VjBUNzNWOEo2SiZlbmNyeXB0ZWRBZElkPUEwMDA1MjIxM0tYNDRIVzJPV0lEWSZ3aWRnZXROYW1lPXNwX2F0ZiZhY3Rpb249Y2xpY2tSZWRpcmVjdCZkb05vdExvZ0NsaWNrPXRydWU=

“In Over Our Heads” – Robert Kegan and Lisa Lahey
https://www.amazon.com/Over-Our-Heads-Mental-Demands/dp/0674445880/ref=sr_1_2?dchild=1&keywords=In+Over+Our+Heads&qid=1605824766&sr=8-2

To subscribe to the Rise Leaders newsletter for more resources: https://mailchi.mp/426e78bc9538/subscribe

To discuss executive coaching, leadership development program design, and workshop facilitation, please visit: https://rise-leaders.com/contact-info/

I specialize in helping leaders and organizations thrive.  Reach out if there’s a way I can support you.

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Local Economy Multipliers | Michael H. Shuman

A High Integrity Leadership Coaching Ecosystem | Jerry Magar + LeeAnn Mallory

#28: A High Integrity Coaching Ecosystem | Jerry Magar + LeeAnn Mallory

I called in a lifeline for this one.  I wanted to talk about the importance of a supportive ecosystem when engaging in leadership coaching and didn’t like what I was producing on my own.  So when my esteemed colleague, Jerry Magar, offered to interview me, I gladly accepted. And he delivered!

Sofiya Deva This Same Sky
Sofiya Deva This Same Sky

Show Notes

“The pressure and expectation of organizational leadership demand emotional maturity, requiring leaders to be willing to do their internal work…we all must move away from leading from a place of fear and lack…and move toward vision and collaboration, which results in desired and sustainable outcomes.”

LeeAnn Mallory, Founder

Rise Leaders

The tables got turned during this episode and I was interviewed by Jerry Magar, a wonderful friend and colleague. He was my lifeline! Listen to find out why…

Two decades of coaching insights

Leadership coaching has become increasingly common in organizations. Because it’s a significant financial investment, it’s worth knowing what to expect and how to maximize the experience. Being aware of the situations that could benefit from coaching, and knowing the potential pitfalls before beginning, are useful to walking in confidently and ensuring it’s a rich, seamless process.

The value of coaching

The more responsibility a leader gains and the broader the scope of their leadership, the more important that they’re able to develop and maintain meaningful positive relationships across the organization and outside the organization, as well as think strategically and execute against that strategy.

Leaders will hire a coach as they step into new and unfamiliar assignments and also as they face the inevitable bumps in the road. Having access to unbiased wisdom from outside the organization can provide a lifeline during times of transition and chaos. While they intuit the need to raise their awareness and increase their ability to respond to complex issues, the necessary feedback and support are often hard to come by.

A Wholehearted Approach

Most important to a successful coaching engagement is a motivated client who is committed to doing the work and has a learning or growth mindset. The work will be intense at times and will require courage and humility.

 To subscribe to the Rise Leaders newsletter for more resources: https://mailchi.mp/426e78bc9538/subscribe

To discuss executive coaching, leadership development program design, and workshop facilitation, please visit: https://rise-leaders.com/contact-info/

To contact Jerry Magar:
LinkedIn: https://www.linkedin.com/in/jerrymagar/
Website: http://jerrymagar.com/about-jerry-magar/

I specialize in helping leaders and organizations thrive.  Reach out if there’s a way I can support you.

Remember…Elevate Your Part of the World!

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Local Economy Multipliers | Michael H. Shuman

Offering Goodness, Truth + Beauty | Sofiya Deva, This Same Sky

# 27: Offering Goodness, Truth + Beauty | Sofiya Deva, This Same Sky

Sofiya Deva didn’t waver from her commitment to launch a new business, This Same Sky, even in the face of a pandemic.  She was unwilling to turn away from any of her ‘loves’ – of beauty, for supporting multi-generational artisans, ethical and sustainable fashion and her self-described geeky love of strategy and business.  I believe Jim Collins would give her an A+ in building a business with a clear core ideology (Vision, Purpose, Values).  Listen in and you’ll also be gifted with Sofiya’s reading of This Same Sky’s brand poem.

Show Notes

“We have a twofold purpose: On one hand, supporting the artisans and preserving their traditions. On the other hand, we’re trying to inspire a more intentional lifestyle for our consumers…that is more fulfilling and authentic.”

Sofiya Deva, Founder and CEO of This Same Sky

Integrating your passions, strengths, and purpose

Not only did Sofiya Deva launch her brand, This Same Sky, in the middle of the pandemic, but she managed to masterfully integrate her loves and strengths. The company focuses on artisan-centered rotating collections of personal and home accessories, but it’s also a social enterprise that earns these multicultural artists an exceptional livelihood. Her purpose is to preserve traditional arts and crafts and remind us that we can’t forget the irrefutable value art can bring into our lives, – even in an era where minimalism is gaining traction.
One of the other passions the brand draws from? Poetry. The inspiration for the company name comes from a book of poetry of the same name. Everyone under “this same sky” lends to the sense of solidarity, that we’re all in this together. Profiling different artistic lifestyle pieces, it celebrates the distinctiveness of cultural differences while affirming a sense of unity.We discuss how Sofiya is achieving “the good, the true and the beautiful” within her new company, and how her pillars and purpose have fueled the company’s genesis and growth, even during such an uncertain time.

When less is more, choose intentionally

[17:47] “My subtle critique to sustainability in the present moment is we have a lot of emphasis on minimalism, and less clutter, which is great, but…I think if we just negate and eliminate, without tapping into a greater sense of who we are, a greater sense of where we come from, it’s incomplete for me.”

As consumers, we’re always voting with our dollars one way or the other. We understand not amassing possessions just to have them. But let’s also choose wisely, bringing things with beauty and life into our home.

The changing landscape of fashion

[25:51] “[The fashion industry] is in need of reform. But the great thing is that consumers are demanding that reform, so I think the brands that are going to deliver that reform have a competitive advantage in terms of being more desirable by consumers.”
[27:59] “Being born in the middle of a pandemic, it’s forced us to be even scrappier than we would have ordinarily been, and very adaptable and very agile – and to really think through, how can we create?How can we create a diverse and flexible business model?…We leaned into collaboration and how to create win-win scenarios.”

Balance passion and self-care

[34:03] “As an entrepreneur, you have to take burnout very seriously. You have to recognize that you’re not immune to burnout; you don’t have infinite energy and resources. I’ve had some really good coaches who have helped me recognize that, actually, my energy is a really valuable resource in this project, and I need to guard it.”

As Sofiya says, it’s important to engage intentionally and assess priorities so you’re able to follow through.

Connect with Sofiya:
Linked In: https://www.linkedin.com/in/sofiya-hyder/

This Same Sky https://thissamesky.com/

Social handle: @thissamesky

Twitter – https://twitter.com/sofiyadeva?lang=en

Other mentions:

This Same Sky by Naomi Shihab Nye – https://www.amazon.com/This-Same-Sky-Collection-Around/dp/0689806302
Guide to Owning Your Value – https://mailchi.mp/d37649fa5f04/own-your-value
Guide to Reading Poetry – https://mailchi.mp/6b573fc30d9e/guide-for-reading-poetry
Vickery Trading – https://vickerytrading.org/
Forbes article on Corporate Gifting: https://www.forbes.com/sites/shamahyder/2020/10/01/how-to-make-corporate-gifting-count-this-holiday-season/?sh=7b7db4453666

Sudara – https://www.sudara.org/
Olivela – https://www.olivela.com/
Wolf and Badger – https://www.wolfandbadger.com/us/

To subscribe to the Rise Leaders newsletter for more resources:  https://mailchi.mp/426e78bc9538/subscribe

To discuss executive coaching, leadership development program design, and workshop facilitation, please visit: https://rise-leaders.com/contact-info/

I specialize in helping leaders and organizations thrive.  Reach out if there’s a way I can support you.

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Local Economy Multipliers | Michael H. Shuman

A Vaccine Against Closed-Mindedness | Jay G. Cone PhD

A Vaccine Against Closed-Mindedness | Jay G. Cone PhD

Jay Gordon Cone Ph.D. has decades under his belt working with leadership teams to build successful strategies and navigate challenging times. These days he is also focusing his considerable intellectual horsepower and passion on creating a “vaccine against mind traps and closed-mindedness”.

Jay believes if we can boost our immunity to chaos, we can respond with creativity and compassion rather than paralysis and tribalism.  Join us as we talk about bias, quicksand questions, and four disciplines for getting unstuck.

Show Notes

“If we were able to have a more productive approach to uncertainty and ambiguity, we actually might find responses that make things better. But we want the easy answer. And it’s our fascination with the easy answer, actually, that prolongs the chaos.”
– Jay G. Cone

Overcoming thinking traps

We often find ourselves stuck – both individually and collectively – as a result of chaos, uncertainty, and unpredictability. In such times, it’s common to gravitate toward the easy answer, regardless if it’s the best way forward. When we fall into these thinking traps, we may oversimplify the problem to create a simple solution. This need for closure creates hasty action plans that can entrench you further into the problem – getting your mind “stuck.”
Today Jay outlines tips for avoiding thinking traps and nurturing an “unstuck” mind that’s open to new possibilities. Much of it begins with knowing the right questions to ask (avoiding “What should I do?”) to forge a new way forward. Being able to adaptively respond to uncertainty is helpful, because expertise and learning from the past doesn’t necessarily provide a fail-proof roadmap for the future.

The importance of building mental stamina

[9:30] “[In chaos] the only responses that we have are based in the limbic system in the amygdala, and we want to fight or we want to flee. But if we can develop our stamina for thinking, when things are complicated or uncertain or ambiguous, then we’re not as susceptible to the same ideas and…closed mindedness and tribalism, that tends to paralyze us.”
[22:03] “And when you start focusing on simplistic answers, then you tend to hang out with people who have gravitated towards those same simplistic responses. And it gets to the point where it’s just too difficult to be open to new information, different perspectives, or to continue processing things.”

How to know you’re stuck

[11:22] “One very common experience … you’re really not clear on why it is that you can’t achieve this goal. You make up all these reasons for why this attempt failed…So if a pattern emerges, there’s a good chance that there’s something more to be uncovered.”
[15:59] “If someone expressed a point of view…and all of a sudden [you] have horrible judgments…if that’s a feeling you’re having, and it’s one you’re not particularly proud of or that doesn’t make sense to you, that might be a leading indicator of stuckness as well.”

Identify quicksand questions

[26:09] “One of the things that you can look at is the way people pose questions because the way people frame a question about a situation they want to change reveals a lot about how they’re thinking and feeling.”
[29:30] “All these things that we want other people to do, we just frame a question around them and we work toward altering the behavior – rather than trying to understand whether we as leaders, organizations, are complicit and whether there’s something other than their behavior that needs to change.”

Practice the 4 Disciplines for getting unstuck

[36:32 ] Jay has designed 4 Disciplines to use when you feel stuck.  We can use these disciplines in team and individual settings when we find ourselves overwhelmed or repeating familiar patterns with unsatisfying results.

Get in touch with Jay Cone:

https://unstuckminds.com/contact/

Resources:

Unstuck Minds website
https://unstuckminds.com/

Unstuck Minds Blog: https://unstuckminds.com/receive-periodic-tips-insights-and-ideas-
from-unstuck-minds/

Free Assessment: https://unstuckminds.com/your-thinking-to-action-profile/

 

Facebook https://www.facebook.com/unstuckminds/%3Fref=bookmarks

Twitter  https://twitter.com/unstuck_minds

Blindspot:  Hidden Biases of Good People https://www.amazon.com/Blindspot-Hidden-Biases-Good-People/dp/1491528869

To subscribe to the Rise Leaders newsletter for more resources:  https://mailchi.mp/426e78bc9538/subscribe

To discuss executive coaching, leadership development program design, and workshop facilitation, please visit: https://rise-leaders.com/contact-info/

I specialize in helping leaders and organizations thrive.  Reach out if there’s a way I can support you.

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Local Economy Multipliers | Michael H. Shuman

The Leadership Pause | Dr. Chris Johnson

The Leadership Pause | Dr. Chris Johnson

Dr. Chris Johnson’s background combines psychology, Aikido (she’s a 3rd degree Black Belt!) and mindfulness training.  The result is a powerful and pragmatic approach for moving wisdom into action.  We talk about Embodied Leadership and the importance of creating a Leadership Pause habit.

Show Notes

“Embodied leadership has an edge over anything conventional, because it allows us to access all of who we are…rationally, cognitively, analytically, our capacity for empathy, and to take effective action based on sound decisions that we tune into that are congruent with our values.”

– Dr. Chris Johnson

Physical awareness leads to authenticity and better decision-making

The world is becoming more volatile, uncertain, complex, and ambiguous (VUCA). For today’s leaders to stay ahead of the accelerated pace of change, it’s important to inspire trust and confidence in those with whom they work. Embodied Leadership practices help us achieve this.

Leading is often approached in a cognition-first or “top-down” manner: first working to analyze a topic, sprinkling in some emotional intelligence, and then taking action in accordance with that understanding. Conversely, embodied leadership draws from bodily awareness. In other words, we begin with a physical opening, calming and connecting with what we say is important, and then can take a broader perspective with more mental space. Tuning into physical sensations and sensory experiences can center us. This nurtures a connection between body and mind that enables congruence and authenticity between mind and actions.

My conversation with Dr. Chris Johnson today examines what embodied leadership is and how it can enable smarter decision-making, helping both the individual and the organization.

It starts with a pause

[13:16] “It might be a momentary pause, where I step back, take a breath, and in that breath, I can see and observe what’s going on between you and me, and I can feel into myself – like what’s congruent with my own values here? I can actually look at the broader horizon of work.

[13:46] “A pause could be momentary. It could be a short pause to create a deliberate practice of mindfulness. It could be a weekend pause… Those are the things we often think we don’t have time for, and we hit that point of diminishing returns.
“Reminding ourselves and taking that pause to say, ‘What’s the bigger commitment? What’s the bigger vision?’ Align around that instead of getting sucked into the details.”

Clear mind, clear path forward

[22:16] “This is where mindfulness also comes in to help. When there’s a lot of chatter [in the mind], it’s really difficult to be clear-headed, clear-eyed, and clear-hearted about what’s the most important. There’s a quote by Lao Tzu – ‘Can you be patient enough to let the mud settle so the right answer can arise?’…
“If we intentionally create the space, and if we commit to it, as a part of the leadership pause, it can allow all of that mud to settle. So that whatever shows up in this moment, as the next right action is the one we see and can move toward.”

 

Take care of yourself – and see a ripple effect

[10:33] “Organizations and businesses of all sizes reflect their leaders. When your energy is high, and your actions are congruent with your words, your presence produces trust…While you can’t erase the uncertainty your organization and people are facing, you do have the power to respond to their challenges with intention, integrity, and honesty.”
[30:15] “Awareness is key for all leaders who are aspiring to lead in this VUCA world and be really present to the craziness and how to stay present in it – and maybe even enjoy the ride.”

Resources mentioned in this episode:

The Power of Pause in the Mindful Leader magazine:
https://www.mindfulleader.org/blog/44061-the-power-of-a-pause

Episode 21: Owning Your Value | Key Elements for Authenticity and Personal Power:
https://rise-leaders.com/owning-your-value/

A Guide to Owning Your Value
Download Guide

To connect to Dr. Chris Johnson please follow:
https://www.linkedin.com/in/drchrisljohnson/
https://q4-consulting.com/

Dr. Chris on Resilience:  https://q4-consulting.com/resilience/

To subscribe to the Rise Leaders newsletter for more resources: https://mailchi.mp/426e78bc9538/subscribe

To discuss executive coaching, leadership development program design, and workshop facilitation, please visit:

https://rise-leaders.com/contact-info/

I specialize in helping leaders and organizations thrive.  Reach out if there’s a way I can support you.

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