On January 2 2015, the Wall Street Journal reported the results of their survey of 153 members of their CEO Council. The main question was whether CEOs are optimistic or negative about the year ahead.
It turns out that CEOs are optimism addicts. Writing in the Journal of Financial Economics in 2013, a group of Duke University researchers said they studied the traits of more than 1,000 chief executives and classified 80% as “very optimistic”—a percentage significantly higher than what is found in the general population.
True to form, the Wall Street Journal survey found leaders overwhelmingly inclined to turn a frown upside down. They are bullish on 2015 and cite a long list of new tailwinds, and a shorter list of headwinds.
“Lower gas prices, higher employment rates and stronger consumer confidence should boost the consumer marketplace,” says Brian Cornell, CEO of Target Corp.
There’s “traction in middle-class incomes,” says Gerry Lopez, CEO of AMC Entertainment Holdings Inc. “Lower energy costs provide a sense that the gains may be sustainable. For the first time in six-plus years it seems we’re focused on growth, not on sputtering around waiting for some indicator or another.”
“Momentum, even a little, fuels momentum,” adds Eric Elliott, CEO of Prime Therapeutics. And momentum gives business some room to maneuver. “In this environment,” says Yang Yuanqing , CEO of Lenovo Group Ltd. , “we will see innovation thrive, and we will see innovators win.”
That optimism is echoed in other readings of business sentiment. The Institute for Supply Management last month said its survey found manufacturers expecting a 5.6% rise in revenue in 2015. Nonmanufacturing companies, like service firms, expect a 10% jump. The ISM survey also found executives confident that their costs of goods and labor will stay relatively stable.
What’s got CEOs worried? The usual suspects: stalemate in Europe, a restless Russia, turmoil in the Mideast, and the slowdown in China and emerging markets. All this makes for a global market that will continue to be highly volatile in 2015.
The CEOs also see specific factors helping their business. “The proliferation of connected devices and growth in on-demand availability” mean consumers will want more entertainment content, which is good for Time Warner Inc., says CEO Jeff Bewkes .
Donald Jernigan, CEO of Adventist Health System, says the Affordable Care Act is boosting business at his hospital group. Similarly, John Hammergren , CEO of drug wholesaler McKesson Corp. , says demand is up and he’s “very optimistic about 2015 and beyond.”
Over at the Nasdaq, it is about deals and disruption. And these days there is plenty of both. CEO Bob Greifeld says, “There is a robust pipeline of public companies and private enterprises looking for ways to use technology to create greater efficiencies, reshape industries and compete for talent. This creates a vibrant ecosystem for IPOs and private marketplaces, and we operate both. The business opportunities are as strong as I’ve seen in my 11 years running Nasdaq.””
Lance Hockridge, CEO of Australian based Aurison holdings, notes that Asia isn’t going to stop urbanizing or industrializing anytime soon. He says he is confident about long-term demand.
What are you confident about? This is the most important question I can ask you. Confidence in your environment is your secret sauce. It guides what you think, what you feel, what you do and ultimately what you become. Context is decisive. If you believe you’re surrounded by negative circumstances, you’ll be defensive. You’ll see danger where you should see opportunity. Instead of attracting others, you’ll drive them away.
So here are three simple ways to develop your addiction to optimism in 2015:
- Find proof that you’re in the right place at the right time with the right people. Whatever you look for is what you tend to find. Beliefs are self-fulfilling. So here I am in Toronto, Canada, on January 12 2015 talking to you. My extreme mental and physical wellbeing is proof that I’m a lucky man. This technology is proof that magic is real. Your attention is proof that this message matters.
- Communicate your confidence in your environment. Pay it forward. Be the reason why other people feel good about their future. We all become the company we keep. So let your joy shine through. Talk the good talk. Language doesn’t just describe reality, it creates the reality it describes.
- Do something that surprises you. Stretch yourself. Take on the challenge that scares you. Make your heart beat a little faster. Be an example of courageous change. Create the environment that gives others confidence. Be the person that steps into the arena and plays the game the way it’s meant to be played. Be willing to stumble. Face the odds even if they seem to be against you. First you will amaze yourself, then you will amaze everyone else.
I’m thrilled to share 2015 with you. Every day will be the best day of the year. This is Mike Lipkin and I really feel good about this message.
Dear Mike , Since having part of our LT when we met at Pfizer Canada, I have followed you , red your books . I am taking a minute to wish you the best for 2015 and thanks for the inspiring moments , it is always a booster in my day as well as giving content to think about and challenging us . Kind regards
Dominique
Dominique Cote
Executive Director Operational excellence EUAFME
Zoetis
Your videos are awesome. I saw you on Michael Jeffrey’s Seminars on Demand this month and I keep going to Utube to hear more. I am getting ready to go to sleep and I had to turn you off because your delivery, optimism, and content was waking me up. This week I have started each morning by listening to one of your videos to get me pumped for the day. Cheers…Patrick in Chicago