At its core, a mission statement should answer this question:
*****Why does the company exist?*****
A profound question that is easy to overlook!
1/ Mission Statements 🧵
I used to think mission statements were just corporate fluff
False words that companies created for HR reasons
I've slowly changed my mind about them
They are THE BEST stakeholder alignment & decision-making tool ever
EVER!
Need convincing? ⬇️⬇️⬇️⬇️
At its core, a mission statement should answer this question:
*****Why does the company exist?*****
A profound question that is easy to overlook!
Mission Statements should guide ALL of the actions of the organization
It's like a company's North Star
If an activity doesn’t advance the mission,
it should be discarded!
If an activity does advance the mission,
it should be adopted!
Mission: WHY the company exists
Vision: What the company/world looks like if the company is successful
Both important, but they are NOT interchangeable
is because the vast majority of companies/CEOs
don't believe they matter!
Most companies SUCK at creating & communicating them!
Why should employees/shareholders care about a mission
if the company/CEO doesn't?
****Why does the company exist?****
What problem is the company trying to solve????
and have a few things in common
1⃣Simple - as few words as possible
2⃣Inspirational -- they motivate all stakeholders
3⃣Optionable -- they leave the "how" open-ended
4⃣Communicated often -- Managers restate the mission regularly
I randomly choose Proctor & Gamble
I searched "Proctor & Gamble mission statement"
$PG doesn't have a mission statement, but rather a purpose
Here's what it says:
think could recite this purpose word for word?
I bet it rounds to zero
Is it:
1⃣Simple - no!
2⃣Inspirational -- eh
3⃣Optionable -- sort of
4⃣Communicated often -- not from what I see
FAIL! FAIL! FAIL! FAIL!
"To improve the lives of the world's consumers"
THAT would be a great mission
Imagine if $PG actually said/believed this
and communicated it often.
I bet it would help to align ALL of $PG's key stakeholders
AND dramatically simply decision making across the company
I bet you have heard the company's mission!
“to accelerate the world’s transition to sustainable energy.”
1⃣Simple - yes!
2⃣Inspirational -- yes!
3⃣Optionable -- yes!
4⃣Communicated often -- yes!
Which aligns ALL of $TSLA's key stakeholders
1⃣Customers
2⃣Employees
3⃣Investors
4⃣Managers
5⃣Suppliers
6⃣Society
behind its mission
to OPEN SOURCE $TSLA's patents?
WHY WOULD ANY COMPANY DO THIS????
Answer:
Doing so
*accelerates the world’s transition to sustainable energy*
VOLUNTEERED TO WORK FOR FREE
(FOR FREE)
to help the company?
Think about that!
Is it possible that they did so
because they believe so deeply in the company's mission?
So who else nails mission statements?
$ZNGA: "to connect the world through games"
$CRWD: "to protect our customers from breaches"
$AAXN: "to protect life"
A+ all around!
"to make the world smarter, happier, and richer."
Fool Live was launched in 2020 in response to COVID-19
@TomGardnerFool & @DavidGFool asked:
Will Fool Live "make the world smarter, happier, and richer?"
Yes, Yes, Yes
Do it!
"to spread financial wellness"
My time is aligned around this mission
I spend A TON of time on Twitter, Fool Live, & Podcasts
Financially, this makes little sense
but, it's THE BEST way that I know
"to spread financial wellness"
Like, REALLY hard
Took me a long time to settle on
"to spread financial wellness"
Lots of conversations with @TMFStoffel
(who is the person that turned me on to the power
of mission statements the most)
I bet you'll make different decisions
both in the short-term and long-term!
(Co-founder of @Twitch)
His #1 lesson from a recently failed startup?
"Start with the mission"
A+ from me!
https://t.co/pCq4ZtVHyo
Start with the mission\u2070.
— Justin Kan (@justinkan) January 6, 2021
It is very hard to write the mission after the fact. You should start with a clear reason to exist and filter early hires for believers.
More from Brian Feroldi
Med-tech is a great industry to get to know
Study these stocks to learn more:
$ABMD
$ALGN
$AMWL
$DXCM
$GDRX
$GH
$IRTC
$ISRG
$LGVW / $BFLY
$NARI
$NVCR
$NNOX
$OM
$ONEM
$PGNY
$PODD
$SDGR
$SILK
$SLP
$SMLR
$SWAV
$TDOC
$TNDM
$VEEV
$ZYXI
Podcast deep dives ⬇️⬇️⬇️⬇️⬇️⬇️⬇️
Podcast deep
$DXCM $PODD
$GDRX
https://t.co/PGhTW6JffI
$NARI
https://t.co/T5q1XPc044
Study these stocks to learn more:
$ABMD
$ALGN
$AMWL
$DXCM
$GDRX
$GH
$IRTC
$ISRG
$LGVW / $BFLY
$NARI
$NVCR
$NNOX
$OM
$ONEM
$PGNY
$PODD
$SDGR
$SILK
$SLP
$SMLR
$SWAV
$TDOC
$TNDM
$VEEV
$ZYXI
Podcast deep dives ⬇️⬇️⬇️⬇️⬇️⬇️⬇️
Podcast deep
$DXCM $PODD
$GDRX
https://t.co/PGhTW6JffI
$NARI
https://t.co/T5q1XPc044
More from Finance
Ok here is the explanation. Grab a cup of coffee and read on. If you have not read/noticed this, you will see intraday options movement in a new light.
Say we have two options, one 50 delta ATM options and another 30 delta OTM option. Normally for a 100 point move, the ATM option will move 50 points and the OTM option will move 30 points. But in a high volatile environment, the OTM option will also move nearly 50 points
To understand why this happens, first understand why an ATM option is 50 delta. An ATM option has the probability of 50% of expiring as ITM. The price just has to close a rupee above the strike for the CE to be ITM and vice versa for PEs
Now think of a highly volatile day like today. If someone is asked where the BNF will close for the day or expiry, no one can answer. BNF can close freakin anywhere, That makes every option of an equal probability of being ITM. So all options have a 50% probability of being ITM
Hence, when a huge volatile move starts, all OTM options behave like ATM options. This phenomenon was first observed in the Black Monday crash of 1987 at Wall Street, which also gave rise to the volatility skew/smirk
In a high IV environment or when the market is very volatile
— Subhadip Nandy (@SubhadipNandy16) January 21, 2022
" OTM options will behave like ATM options", one will get almost the same delta movement
Say we have two options, one 50 delta ATM options and another 30 delta OTM option. Normally for a 100 point move, the ATM option will move 50 points and the OTM option will move 30 points. But in a high volatile environment, the OTM option will also move nearly 50 points
To understand why this happens, first understand why an ATM option is 50 delta. An ATM option has the probability of 50% of expiring as ITM. The price just has to close a rupee above the strike for the CE to be ITM and vice versa for PEs
Now think of a highly volatile day like today. If someone is asked where the BNF will close for the day or expiry, no one can answer. BNF can close freakin anywhere, That makes every option of an equal probability of being ITM. So all options have a 50% probability of being ITM
Hence, when a huge volatile move starts, all OTM options behave like ATM options. This phenomenon was first observed in the Black Monday crash of 1987 at Wall Street, which also gave rise to the volatility skew/smirk
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==========================
Module 1
Python makes it very easy to analyze and visualize time series data when you’re a beginner. It's easier when you don't have to install python on your PC (that's why it's a nano course, you'll learn python...
... on the go). You will not be required to install python in your PC but you will be using an amazing python editor, Google Colab Visit https://t.co/EZt0agsdlV
This course is for anyone out there who is confused, frustrated, and just wants this python/finance thing to work!
In Module 1 of this Nano course, we will learn about :
# Using Google Colab
# Importing libraries
# Making a Random Time Series of Black Field Research Stock (fictional)
# Using Google Colab
Intro link is here on YT: https://t.co/MqMSDBaQri
Create a new Notebook at https://t.co/EZt0agsdlV and name it AnythingOfYourChoice.ipynb
You got your notebook ready and now the game is on!
You can add code in these cells and add as many cells as you want
# Importing Libraries
Imports are pretty standard, with a few exceptions.
For the most part, you can import your libraries by running the import.
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