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Want To Do Your Part To Boost The Economy? Create Value.

In a breakfast meeting last week, I got into a very interesting discussion with Mike Schmid, an experienced exec from Lancaster, PA. We started to list all the burgeoning examples of regulations that were impacting businesses. It struck us both that a very large part of our economy is devoted to compliance and not to creating value. Economic growth in the form of jobs and improved circumstances only happens when value is created and people and organizations buy that value. Then that money ripples through the economy and is multiplied. The amount of money that businesses (and really organizations of all types) have to spend on complying with a bewildering variety of Federal, state and local regulations is money that does not go towards creating value. This is not an argument against regulations. Many of them are needed to protect public and financial safety. But many of them are created in the frenzy that occurs after some kind of scandal like Enron or the mortgage crisis. Often, the proverbial barn is locked tight after the horses have run away. And, the innocent are punished while the guilty go free. But, it is what it is. So what can we do? Despite the obstacles and frustrations, we can go on creating and delivering value-products and services that people need and want. These things include those that improve lives and organizational success. Besides, when we are mad at the stuff that life throws in our way, success is the best revenge