Jason Krantz

I've said it a million times, but I'll say it again.

Don't use Excel as a database.

#analytics #data #leadership #entrepreneurship #careers

Source: Unknown

Sometimes employees outgrow us. When that happens, we have to be ready to let them go. What follows is 100% a true story.

I had an exceptionally talented employee that was growing very quickly and had immense upside potential.

I felt very strongly that they were ready for the next level.

I went thru the process of requesting a promotion, but unfortunately, bureaucracy got in the way.

I realized that, despite the fact I wanted to move them up, they weren’t going to get promoted.

I told this person that they needed to move onto a different role and they had 100% support from me thru the process. Whatever they needed, I was there.

I helped them research market salary rates to know their value and negotiate with confidence.

I wrote a letter of recommendation.

Once they got the offer, I helped them negotiate.

The end result was a role they wanted with growth potential and a 50% raise plus a very healthy bonus.

While I caused a lot of pain for myself in the short run losing a talent like that, it was the right move. To take any other path was selfish.

I often get asked “why are the people that work for you so loyal to you?”

It’s because I care about them as people and truly want to see them succeed. You can’t fake that.

#leadership #analytics #management #data #careers

“Data driven decision making” is a term I’m not a big fan of.

“Data informed decision making” is much better.

Why?

“Data driven” implies that data will have all the answers. That isn’t realistic in a majority of business situations. Data quality is just one of many significant challenges associated with this approach.

It also implies that critical human factors like emotion have no place in the decision making process. That simply is not realistic when humans are making decisions. We are naturally emotional beings.

We need to remember that data is just a tool in the decision making toolbox. It provides another perspective, can aid situation assessment, and can help us make better, faster, and more confident decisions.

To put it more simply:
o  Gut Feel by Itself = Dangerous
o  Data by Itself = Dangerous
o  Gut Feel (Intuition) + Data (Information) = Powerful
- Daniel Kahneman calls this “informed intuition”

Do you prefer data driven or data informed and why? What does being “data driven” mean to you?

#analytics #data #careers #innovation #leadership

If you have a high performer on your team, do your best to keep that person. One way of doing that is making sure they are compensated competitively in the market.
 
Common sense, right? Not always.
 
If you are bringing in new talent with less experience at the same level/pay as your proven talent with more experience, it probably makes sense to give the proven performer a pay bump.
 
It shows goodwill, highlights you recognize and value the employee, and is a market adjustment that you probably need to make anyway.
 
If you don’t pay your top performers, someone else will.

#analytics #data #careers #leadership #management

I spit my drink out at the end of this because I was laughing so hard.

Enthusiasm and vision can get you started, but eventually you have to go face to face with the market.

#entrepreneurship #startups #careers #analytics #data