I was recently in a meeting with another executive who asks his staff to follow this guideline, which he also follows, when trying to solve a problem. “Check your ego at the door,” he said.
I have heard this statement before. It’s not a revolutionary concept, but like many truths, we need to be reminded of them time and time again lest we forget.
Here’s another timeless truth that’s not so popular. If you don’t work, you don’t eat. It’s from 2 Thessalonians 3:10.

Of course, to apply this truth out of context and in every circumstance would be cruel and uncaring. Certainly, our society must care for the vulnerable and those who cannot work. This truth was not designed for these people. Instead, the truth was directed at those who were “undisciplined, doing no work at all and being busybodies” as the New American Standard translation of 2 Thessalonians 3:11 puts it.
You may be wondering at this moment, “Wow, Marty. Where in the world are you going with all this?”. Well, here it is.

Inflation and the great resignation have been the topics of many articles, podcasts, etc. Some of our government’s well-intended policy of monetary relief during COVID has had some unintended consequences. One of them is inflation. 

There are three types of inflation. Demand-pull, cost-push and built-in. I’ll focus on demand-pull for now. According to the World Population Review, demand-pull inflation occurs when the demand for goods and services — in other words, the overall amount of money and/or credit people have to spend — increases quicker than the economy’s production capacity. Demand is high but supply can't keep up, so prices rise.
It is clear that one of the most significant reasons production can’t keep up is our labor shortage. The labor shortage is not solely affected by the great labor exodus. Another reason is the part of the unemployment rate that our government does not report.
The May jobs report stated that unemployment was approximately three percent. This doesn’t sound terrible considering where the number was in 2020 and even in 2021 during the same time. However, the unemployment rate only includes those who have been actively seeking employment within the last four weeks within the timeframe being measured. The real unemployment number is more like seven percent which takes into account the group of unemployed workers that is defined as “discouraged workers.” These are workers that are able to work but are not actively pursuing it, at least not actively on the books looking for work.
One solution to our inflation problem might be to encourage this discouraged group by only providing future government benefits if they can provide proof of work – any work. This approach might sound harsh, but I believe it would stimulate the economy in a small way; but more than that, work provides dignity and satisfaction.
The numbers are always just a reflection of our bad decisions. Our city, state, nation and world need leaders who will make hard decisions and show tough love – who are not afraid of discipline and hard work. This kind of leadership, when ego is checked at the door, will inspire loyalty and reflect humility.
As business owners, entrepreneurs and leaders, let’s try and make similar choices, shall we? And in doing so, be prepared to check your ego at the door!

I hope you have a safe and relaxing, long weekend. Happy Independence Day!

God bless you and yours.