Three Concepts Packaging Execs Need to Embrace In Order to Succeed Over the Coming Years
Wednesday, May 06, 2015
SPRINGFIELD, MA - The Paperboard Packaging Council's (PPC) recent Spring Meeting in Salt Lake City, UT, provided insights on risk-taking, greatness, and economic trends that packaging executives can—and should—harness immediately to improve their businesses.
Risk-Taking: Fail in Order to Succeed
Keynote speaker and former professional poker player Caspar Berry instructed attendees to embrace calculated risk when short-term loss leads to long-term growth and success. To do this, packaging execs should decide what they want and what they’re prepared to lose or invest—even if this process is painful or frustrating. They should then incentivize their teams to embrace short-term failures. No one wants to fail, but it’s worth it if doing so means faster progress toward the desired objectives.
Greatness: It’s in the Pursuit
Don Yaeger, keynote and best selling sports writer, shared what he has learned about greatness from writing for top sports legends. Greatness is about doing common things uncommonly well, explained Yaeger, and it’s the everyday pursuit of greatness that allows it to happen. To find greatness in the converting world, packaging leaders should encourage their employees to take responsibility for their actions and to strive for success, despite adversity.
Economy: Get Ready for Growth
According to celebrated economist Alan Beaulieu, since the North American economy will provide solid growth opportunities over the next 2.5 years, packaging execs should take advantage of the still historically low interest rates by borrowing as much money as possible to buy capital equipment. They should also make sure they have the right people in the right seats so that businesses are poised to weather the predicted economic downturn of 2018-19.
For more information on PPC’s Spring Meeting, visit paperbox.org/spring.