Commentary & Recap: Futurist Libey Examines the Present at MeritDirect, Part 2 of 2

9. People. Hire mediocre people, get mediocre profits.

10. Investment. Underlies almost everything. “Most of us are cheap,” Libey said. “We’re too cheap to invest where it leads to success, so we invest the least amount where it's least needed.”

But he noted that compared to dead products sitting around warehouses that’ll never be sold and poor data accuracy, both of which “will bite you in the behind,” it’s cheap to invest in the future, quality talent, systems, products and so forth. “Successful companies invest money to make money,” he said. “Do this in good times and bad.”