Every time there is an election, I like to see what information can be mined for business. Like previous cycles there is no shortage of information to focus on but the one I've decided to write about today is one that repeats itself over & over again in both politics & business.
Treat Bad News Like Pulling Off A Band-Aid; Reveal It Fast
It's pretty simple. If you have news that you have to reveal that shall we say, paints you in a less than favorable light, get it out fast & get it out early [like pulling off a band-aid]. Why? Not only are memories short these days but if you do it this way, you get to frame the information instead of others doing it for you. In this case I am referring to Mitt Romney's coyness about his tax returns because he has paid such a favorable rate in spite of his enormous wealth. It unwittingly makes him the instant poster child for "Occupy Wall Street" [regardless of your feelings about the movement] because his taxes reflect the fundamental unfairness they have been shouting about. It doesn't even matter whether or not its true because its the perception that counts & that's powerful soup. In Romney's case, he has run for office so frequently & recently, that this is a galactic "unforced error." So when will CEO's & politicians finally learn this critical lesson? From the looks of things, I'd say not anytime soon.