Hartford Business Journal

www.HartfordBusiness.com September 7, 2015 • Hartford Business Journal 21 BIZ BOOKS Tips for bringing creativity back into the workplace "i nGenius — A Crash Course on Creativity" by Tina Seelig (HarperOne, $15.99). If you weren't fortunate enough to be born with the creativity gene, that doesn't mean you can't become a creative thinker and doer. Seelig takes a page out of each individual's past and shows how revisiting it can create a different future. She starts by reminding us of the innate curiosity all of us had as kids. Then, our imaginations ran wild as we tried to make sense out of the new and different. As we grew to adulthood, things changed: We were expected (programmed?) to get serious about life and leave experimenting and exploration behind. Workplace rules (i.e. bureaucracy, processes, proce- dures) boxed us in. Our innova- tive "muscles" atrophied from lack of use. Approaches to solving problems relied on the tired tried-and-true, not cre- ativity. As a result, we're unable to adapt in a work world dominated by change. The adaptive alternative: Seelig's inno- vation engine. It revs up our imagination. Using knowledge as its fuel and attitude to spark creativity, it shifts the gears of new ideas. Here's a look at the fuel and spark: Knowledge — Don't be deceived by the "beginner's mind," which involves coming at solutions without established knowledge. "The more you know about a topic, the more raw materials you have to work with." Alone, you're a one-cylin- der engine; you don't know what you don't know. Incorporating the knowledge of others adds cylinders that produce pro- ductive horsepower — which demands even more fuel. Attitude — Without an I-can attitude, your engine is stuck in neutral. What we tell ourselves and what others tell us shapes our responses to situations. Numerous studies have found that learn- ing from mistakes shows that our "mind-sets are malleable." Think of the brain as a mus- cle; when it's used (i.e. acquiring knowledge) alternatives materialize. Key takeaway: Tuning your innova- tion engine requires building, juggling and applying knowledge resources. • • • "An Entrepreneur's Manifesto" by Steve Mariotti (Templeton Press, $24.95). Founded in 1987, Mariotti's Network for Teaching Entrepreneurship has graduated over 600,000 students — many of whom were at-risk youths who believed business ownership was life's opportunity. While developing an understanding of what it takes to succeed in business, students also learned how small businesses make a dif- ference in every community. Mariotti makes a strong case for including entrepreneurship and financial literacy in K-12 curriculum. He's spot on; I thought back to my involvement in Junior Achievement (JA) proj- ects while in high school. In JA, I learned not only about the various aspects of producing/ selling a product and balancing a budget, but also about teamwork. Those lessons helped me secure summer employment during my junior and senior years. They also helped in col- lege business courses because I understood the practical applications of the concepts explained by the professors. Entrepreneurship empow- ers young people by showing them that managing their time, talent, attitude, energy and unique knowledge of their communities can cre- ate career opportunity. It teaches them grit — the ability to work hard, follow through on commitments, and respond resiliently in the face of failure and unexpected setbacks. Grit prepares them for life. Financial literacy (e.g. budgeting, sav- ings, checking, debit cards, investing, credit cards, loans, etc.) shows people how to man- age their money. It's important regardless of one's career choice. The problem: While studies have shown that including entrepreneurship and financial literacy as part of the educational mainstream boosts overall academic achievement, most K-12 curricula lack the funding and experienced teachers to include these programs. The solution: Businesses small and large must partner with educators, local govern- ment, community organiza- tions and human services agencies to ensure that the next generation has the tools to create their opportunities. n Jim Pawlak is a nationally syndicated book reviewer. Jim Pawlak INVESTOR'S CORNER Investing in marijuana no safe bet By Valerie Dugan T he question of whether Connecticut will ultimately legalize marijuana for recre- ational use is still up in the air. The idea floated around the state legislature during the last session but didn't go far . . . this time. Although medical marijuana is already legal in this state, and recreational marijuana has been decriminalized for possession of a half- ounce or less, there remain significant reasons to be wary of looking to mari- juana for investment purposes. The most significant reason, of course, is that it remains illegal on the federal level. Proponents of decriminalizing marijua- na tout tax windfalls that other states have reaped. But that still does not mean marijua- na — cultivation or sale — is necessarily a good investment. There is significant reason to believe that many other forms of invest- ment would be likely to generate a higher — and potentially safer — yield. Some analysts have noted the value of the emerging $50 billion marijuana industry. And some investors see this number as proof that financial opportunity exists. Medical mari- juana is already legal in 36 states and with continued pressure to legalize recreational use, an argument could be made for getting in on the ground floor. But there are additional factors to take into consideration. First, there already is a well-developed and very aggressive, illegal marijuana industry that has an established cus- tomer base. I cannot imagine that black market dealers are simply going to disappear with the development of a legal market for the drug. That black market customer base is accus- tomed to making purchases with prices con- trolled directly by quality, quantity and the age-old factors of supply and demand. There are no taxes, no added fees and no limit on how much can be purchased at one time. This means that the black market availability of marijuana may always be a factor — and a significant competitor to whatever legal mar- ket may evolve. Researchers note that the drug trade is so profitable that even if the drug car- tels have to lower their prices to undercut legalized sales, they still will profit hugely, giving them plenty of reason to stay in the business. Notice also should be taken of the ongo- ing and thriving illicit market for untaxed tobacco products. There are also plenty of alternative invest- ments that have the potential for positive returns at considerably less legal risk. Even stocks make more sense to me, despite the mar- ket's recent roller-coaster ride. Other options for consideration: Real Estate Investment Trusts (REITs), Exchange Traded Funds (ETFs), mutual funds, as well as a diversified portfolio of higher-yielding U.S. and even international equities. What this all boils down to is a pretty strong case for avoiding the lure of investing in mari- juana, even if the next session of the General Assembly makes it legal for recreational use. Call me old-fashioned, for now. Maybe I'll change my mind if and when I see marijuana on the Chicago Board of Trade, right along- side wheat, corn and hogs. n Valerie B. Dugan is a senior vice president and financial advisor in the Hartford office of Morgan Stanley Wealth Management. Valerie Dugan ▶ ▶ Proponents of decriminalizing marijuana tout tax windfalls that other states have reaped. But that still does not mean marijuana — cultivation or sale — is necessarily a good investment. ▶ ▶ Tuning your innovation engine requires building, juggling and applying knowledge resources. Send Us Your Letters The Hartford Business Journal welcomes letters to the editor and guest commentaries for our opinion pages. Electronic submissions are preferred and welcome at: editor@HartfordBusiness.com. Or you may fax submissions to Editor, Hartford Business Journal, at (860) 570-2493.

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