WEBVTT 00:00:16.850 --> 00:00:20.738 Klaus Reichert: Rolf Kunisch, Mr. Kunisch 00:00:20.738 --> 00:00:24.506 Whoever is acquainted with Mr. Kunish, 00:00:24.506 --> 00:00:31.088 knows that he doesn't like to be in the spotlight. 00:00:31.088 --> 00:00:33.274 But what happened, 00:00:33.274 --> 00:00:36.081 was that whether he was self motivated 00:00:36.081 --> 00:00:38.778 or persuaded by others, 00:00:38.778 --> 00:00:40.776 it is a very interesting phenomenon 00:00:40.776 --> 00:00:42.866 and it transpired by itself. 00:00:42.866 --> 00:00:47.868 The fascinating thing that I've heard about him, 00:00:47.868 --> 00:00:51.811 is that for him, his work, his company, 00:00:51.811 --> 00:00:56.235 and his products were the very focal point. 00:00:56.235 --> 00:01:00.836 Mr. Kunisch has made some very significant moves in his life 00:01:00.836 --> 00:01:03.416 and my impression is 00:01:03.416 --> 00:01:12.599 that he is a person who had a very large team of people 00:01:12.599 --> 00:01:17.799 behind, next to, and under him 00:01:17.799 --> 00:01:23.328 to whom he gave clear leadership. 00:01:23.328 --> 00:01:31.208 In doing so, he has this energy that he puts into his team, the individuals, 00:01:31.208 --> 00:01:35.900 so that they don't go off in all directions, but are channeled 00:01:35.900 --> 00:01:40.280 towards one goal, towards one outcome. 00:01:40.280 --> 00:01:47.617 I believe that he, as leader of the team, has shown them the way. 00:01:47.617 --> 00:01:50.579 That he contributed to the welfare of the group, the company, 00:01:50.579 --> 00:01:52.769 the product, the stakeholders 00:01:52.769 --> 00:01:56.004 -- not to cozy up to them -- 00:01:56.004 --> 00:02:01.794 but for other reasons. 00:02:01.794 --> 00:02:04.555 I am very pleased to now introduce Mr. Kunisch, 00:02:04.556 --> 00:02:06.903 and offer him the stage. 00:02:06.903 --> 00:02:09.728 Rolf Kunish: Good morning. 00:02:09.728 --> 00:02:13.944 I want to speak with you about choices. 00:02:13.944 --> 00:02:18.829 Not about power or drive, but about choices. 00:02:18.829 --> 00:02:25.509 Choices that perhaps can drive you. 00:02:25.509 --> 00:02:29.864 The first choice I'm going to talk about is the decision to speak here. 00:02:29.864 --> 00:02:32.609 This wasn't actually my choice, 00:02:32.609 --> 00:02:36.328 but rather Mr. Reichert's choice 00:02:36.328 --> 00:02:38.148 as he talked me into it. 00:02:38.148 --> 00:02:39.816 (Laughter) 00:02:39.816 --> 00:02:44.194 I didn't really want to give any more speeches, 00:02:44.194 --> 00:02:46.436 at least not in public, 00:02:46.436 --> 00:02:49.696 because in April of this year 00:02:49.696 --> 00:02:52.696 when I turned 70, I said: 00:02:52.696 --> 00:02:55.611 After 70, you shouldn't have to speak in public anymore. 00:02:55.611 --> 00:02:57.490 You shouldn't have to dress up. 00:02:57.490 --> 00:03:00.924 You should only have to look after your family and your grandchildren. 00:03:00.924 --> 00:03:04.493 I held onto this position until today. 00:03:04.493 --> 00:03:08.468 I'll give it a go once again. 00:03:08.468 --> 00:03:12.283 I am, if you will -- it always sounds a bit funny -- 00:03:12.283 --> 00:03:16.375 what you would call "a PIP." 00:03:16.375 --> 00:03:19.062 You know what a VIP is: 00:03:19.062 --> 00:03:20.989 Very Important Person, 00:03:20.989 --> 00:03:23.064 and I am the next generation 00:03:23.064 --> 00:03:25.946 and that is Previously Important Person. 00:03:25.946 --> 00:03:26.888 (Laughter) 00:03:26.888 --> 00:03:30.510 You can recognize us because every phrase, 00:03:30.510 --> 00:03:34.952 every sentence begins with the words: 00:03:34.952 --> 00:03:38.368 "Don't you know how important I was?" 00:03:38.368 --> 00:03:41.132 And no one is interested in that. 00:03:41.132 --> 00:03:46.001 But you have to learn this. 00:03:46.001 --> 00:03:52.146 And being willing to learn this is a an individual choice. 00:03:52.146 --> 00:03:55.843 Mr. Reichert very nicely said: 00:03:55.843 --> 00:04:00.063 "When you have been the head of a MDAX company, 00:04:00.063 --> 00:04:03.333 then you have something to give back, to pass on." 00:04:03.333 --> 00:04:05.750 And he hit a nerve there, 00:04:05.750 --> 00:04:08.510 because the question of choices is: 00:04:08.510 --> 00:04:10.794 How do you find your choices? 00:04:10.794 --> 00:04:13.057 How do you know when it's not a choice? 00:04:13.057 --> 00:04:15.626 What does a choice mean? 00:04:15.626 --> 00:04:17.393 This is extremely important. 00:04:17.393 --> 00:04:19.269 Not only in your work life, 00:04:19.269 --> 00:04:21.745 but also in your private life. 00:04:21.745 --> 00:04:23.709 I wanted to tell you something about this 00:04:23.709 --> 00:04:25.986 and perhaps also pose the question: 00:04:25.986 --> 00:04:27.666 How can you learn this? 00:04:27.666 --> 00:04:31.174 How can you learn to decide, 00:04:31.174 --> 00:04:35.936 and how can you unlearn to decide? 00:04:35.936 --> 00:04:39.570 This is what I'd like to talk with you about. 00:04:42.480 --> 00:04:44.892 I am not allowed to advertise, 00:04:45.054 --> 00:04:48.847 but I sat in this building at the top right for 15 years. 00:04:49.640 --> 00:04:52.230 This is taken from the Web and so is not confidential. 00:04:52.230 --> 00:04:54.405 [Picture of Beiersdorf Headquarters] 00:04:54.405 --> 00:04:56.977 Also I don't have any intention to promote products, 00:04:56.977 --> 00:04:59.521 but I'll show you one of the leading products 00:04:59.521 --> 00:05:02.796 so that you have seen it. 00:05:08.016 --> 00:05:11.419 Beiersdorf is a small scale company. 00:05:11.419 --> 00:05:16.093 It is the smallest worldwide consumer goods corporation. 00:05:16.093 --> 00:05:18.370 It has sales on the order of six billion Euro, 00:05:18.370 --> 00:05:21.718 four billion of which come from the Nivea brand. 00:05:21.718 --> 00:05:25.515 Nivea exists in every country in the world. 00:05:25.515 --> 00:05:32.568 We have about 70 - 80 subsidiaries across the world, 00:05:32.568 --> 00:05:35.756 I have spent a lot of time traveling. 00:05:35.756 --> 00:05:40.546 But I have also spent time now and then with decision making. 00:05:40.546 --> 00:05:47.001 The big question is: how do you get to the top? 00:05:47.201 --> 00:05:49.557 I want to make it brief, 00:05:49.557 --> 00:05:52.496 but you need to know about a couple of important choices. 00:05:52.496 --> 00:05:57.518 The first big choice in my life was not: "get to the top." 00:05:57.558 --> 00:06:00.043 The first big choice was 00:06:00.043 --> 00:06:04.124 that in 1953 I decided that 00:06:04.124 --> 00:06:06.759 I needed to have a Mercedes. 00:06:06.759 --> 00:06:10.508 In 1953 it wasn't very common to have a Mercedes. 00:06:10.508 --> 00:06:13.119 There was only one person in our area who had one. 00:06:13.119 --> 00:06:14.938 He was a director of a factory, 00:06:14.938 --> 00:06:17.337 a rather small factory, as I know today. 00:06:17.337 --> 00:06:18.701 But he had a Mercedes. 00:06:18.701 --> 00:06:20.224 And that was awesome. 00:06:20.224 --> 00:06:21.800 Why is that significant here? 00:06:21.800 --> 00:06:23.692 Because it's a fundamental way of life. 00:06:23.692 --> 00:06:25.193 Not everyone has to emulate it, 00:06:25.193 --> 00:06:27.074 it was very materialistic, 00:06:27.074 --> 00:06:29.710 and you can only understand it when you know 00:06:29.710 --> 00:06:33.610 how crappy the world still was in 1953. 00:06:33.940 --> 00:06:37.510 When I started school, there was no currency, 00:06:37.517 --> 00:06:39.802 just wheeling and dealing with cigarettes. 00:06:39.802 --> 00:06:42.597 When I turned seven, the D-Mark came along, 00:06:42.597 --> 00:06:45.724 and suddenly you could buy stuff with paper. 00:06:45.724 --> 00:06:48.715 That was an entirely new experience for us. 00:06:48.715 --> 00:06:52.097 Though to say, "I want a Mercedes," sounds trivial, 00:06:52.097 --> 00:06:54.475 it is indeed an important choice. 00:06:54.475 --> 00:06:56.893 On the road to the top 00:06:56.893 --> 00:06:59.893 the obvious first choice to my family 00:06:59.893 --> 00:07:02.537 was that I should become a lawyer, like everyone else. 00:07:02.537 --> 00:07:04.552 I should study in Marburg 00:07:04.552 --> 00:07:07.100 because tuition was free -- I am North Hessian. 00:07:07.100 --> 00:07:10.279 Well then you can go into the same fraternity as your father. 00:07:10.279 --> 00:07:14.062 So everything was fixed and predetermined. 00:07:14.132 --> 00:07:17.430 When I was 16 - 17 years old I went through the normal rebellion, 00:07:17.430 --> 00:07:20.376 and said, "I want to do something different." 00:07:20.376 --> 00:07:21.968 That wasn't so easy at that time, 00:07:21.968 --> 00:07:24.480 because outside of Marburg there was only Giessen. 00:07:24.480 --> 00:07:25.892 Kassel wasn't there, 00:07:25.892 --> 00:07:28.446 and, thank God, Darmstadt. 00:07:28.446 --> 00:07:30.088 Darmstadt had the advantage 00:07:30.088 --> 00:07:32.012 that is was a long way away from Arolsen 00:07:32.012 --> 00:07:34.750 and I would be 200 km away from home. 00:07:34.750 --> 00:07:37.426 That's how I decided to go to Darmstadt 00:07:37.426 --> 00:07:39.572 to become an industrial engineer. 00:07:39.572 --> 00:07:41.988 At that time nobody knew what that was. 00:07:41.988 --> 00:07:43.919 Today a couple of people know. 00:07:43.919 --> 00:07:46.656 Back then it was quite new and I thougt that was great. 00:07:46.656 --> 00:07:48.217 I had no idea what it was 00:07:48.217 --> 00:07:49.881 but the name was so great 00:07:49.881 --> 00:07:51.557 that I have continued to use it. 00:07:51.557 --> 00:07:54.998 After I'd been saying for two years, "I'll be an industrial engineer," 00:07:54.998 --> 00:07:56.132 I finally had to do it. 00:07:56.132 --> 00:07:59.116 That's how I went to Darmstadt, and not to Marburg. 00:07:59.336 --> 00:08:01.982 It is a relatively difficult choice for someone that age 00:08:01.982 --> 00:08:04.669 to rebel and go against their family, 00:08:04.669 --> 00:08:06.934 but not unheard of. 00:08:06.934 --> 00:08:09.481 The second choice was substantially more difficult. 00:08:09.481 --> 00:08:12.335 At that time I was an assistant at the University in Cologne 00:08:12.335 --> 00:08:17.862 and should have and wanted to follow a scientific career path. 00:08:17.862 --> 00:08:22.648 But I earned a salary of 1024 D-Mark. 00:08:22.648 --> 00:08:25.351 My apartment cost me 500 D-Mark. 00:08:25.351 --> 00:08:27.726 And my wife was pregnant. 00:08:27.726 --> 00:08:29.369 It was easy to see 00:08:29.369 --> 00:08:32.825 that 1024 D-Mark was not going to make it. 00:08:32.825 --> 00:08:35.502 Then I bumped into an advertisement from Procter & Gamble 00:08:35.502 --> 00:08:37.644 that asked in the headline, 00:08:37.644 --> 00:08:39.471 "Do you want to earn a lot of money?" 00:08:39.471 --> 00:08:40.992 I liked that. 00:08:40.992 --> 00:08:44.060 (Laughter) 00:08:44.060 --> 00:08:45.648 So then I started working 00:08:45.648 --> 00:08:49.134 at Proctor & Gamble, a company that was totally unknown at that time. 00:08:49.134 --> 00:08:51.478 At that time they had the Rei plants. 00:08:55.428 --> 00:08:59.700 Procter & Gamble was the marketing school of the nation, 00:08:59.700 --> 00:09:01.030 even in America. 00:09:01.030 --> 00:09:03.615 If someone wanted something, 00:09:03.615 --> 00:09:05.770 he went to Procter & Gamble 00:09:05.770 --> 00:09:08.542 to learn marketing and then would go somewhere else. 00:09:08.542 --> 00:09:11.181 It sounds absurd but there are plenty of examples. 00:09:11.181 --> 00:09:15.403 Jeff Immelt from General Electric was an assistant there, 00:09:15.403 --> 00:09:19.855 and Margaret Whitman, who is now with Hewlett Packard 00:09:19.866 --> 00:09:21.103 was also there. 00:09:21.103 --> 00:09:23.019 Thus, it was the school of the nation. 00:09:23.019 --> 00:09:26.222 It was great and I worked my way up to product manager, 00:09:26.222 --> 00:09:29.820 first in Germany and then in the USA. 00:09:29.820 --> 00:09:31.666 The third choice was in 1989, 00:09:31.666 --> 00:09:35.747 when Procter & Gamble relocated me to the Soviet Union. 00:09:35.747 --> 00:09:37.901 I figured out pretty fast 00:09:37.901 --> 00:09:40.803 that that was really not my thing. 00:09:40.803 --> 00:09:44.243 Especially since my knowledge of Russian is very limited. 00:09:44.243 --> 00:09:48.296 But I was General Manager for Eastern Europe and the Soviet Union. 00:09:48.296 --> 00:09:52.165 Then a headhunter reached out to me and said 00:09:52.165 --> 00:09:56.117 he wanted to offer me a job at Beiersdorf. 00:09:56.117 --> 00:09:58.723 After that, I went to Beiersdorf 00:09:58.723 --> 00:10:03.565 and was there for the past 15 years. 00:10:13.885 --> 00:10:15.729 The most important decision 00:10:15.729 --> 00:10:19.618 I had to make in my time with Beiersdorf 00:10:19.618 --> 00:10:24.445 was the question: do we sell the company to Procter & Gamble or not? 00:10:24.445 --> 00:10:27.114 That was ten years ago. 00:10:27.854 --> 00:10:30.996 Here are the headlines from that time. 00:10:38.186 --> 00:10:40.433 [Taking over Beiersdorf won't be easy: Kunisch] 00:10:40.433 --> 00:10:44.573 It says here, "Kunisch would make it difficult for anyone 00:10:44.573 --> 00:10:48.693 to take over Beiersdorf." 00:10:48.693 --> 00:10:50.793 That was a very difficult decision. 00:10:50.793 --> 00:10:52.403 I knew Procter & Gamble, 00:10:52.403 --> 00:10:55.248 and that when Procter & Gamble wants to buy a company, 00:10:55.248 --> 00:10:57.586 they buy it. 00:10:57.586 --> 00:11:01.337 There is not a single case where they had failed at this. 00:11:01.337 --> 00:11:05.236 The question that my wife and I had to answer, was: 00:11:05.236 --> 00:11:09.602 Can we fight back, though there is a high probability of failure? 00:11:09.602 --> 00:11:12.887 Or do we go along, 00:11:12.887 --> 00:11:16.822 with the high probability of earning a lot of money? 00:11:16.822 --> 00:11:19.373 That is a very difficulty decision. 00:11:19.373 --> 00:11:23.022 Thank God that Beiersdorf is still independent today. 00:11:23.022 --> 00:11:26.275 And Beiersdorf stayed independent, 00:11:26.275 --> 00:11:27.871 not on my account, 00:11:27.871 --> 00:11:29.969 but rather the city of Hamburg stepped in 00:11:29.969 --> 00:11:33.373 and laid one billion Marks on the table and bought it. 00:11:33.373 --> 00:11:35.069 That was a good investment 00:11:35.069 --> 00:11:38.307 because today Beiersdorf continues to be a solid taxpayer in Hamburg. 00:11:38.307 --> 00:11:40.114 That wouldn't be the case otherwise. 00:11:40.114 --> 00:11:42.332 An extremely difficult decision. 00:11:42.542 --> 00:11:45.146 And my last choice was, 00:11:45.146 --> 00:11:46.697 as I indicated earlier: 00:11:46.697 --> 00:11:49.382 When do I voluntarily quit? 00:11:49.382 --> 00:11:50.764 This is also difficult 00:11:50.764 --> 00:11:54.121 because when all of a sudden you are no longer truly important, 00:11:54.121 --> 00:11:56.939 then you have a problem with that. 00:11:56.939 --> 00:12:00.176 Decision making, ladies and gentlemen, 00:12:00.176 --> 00:12:03.385 is an extremely challenging subject. 00:12:03.385 --> 00:12:05.787 Why is it so difficult? 00:12:05.787 --> 00:12:07.797 You know the extremes: 00:12:07.797 --> 00:12:11.465 We speak colloquially about the burden of choice, 00:12:11.465 --> 00:12:15.625 or we concede the decision making to others. 00:12:15.625 --> 00:12:19.104 It is neither one nor the other. 00:12:19.104 --> 00:12:20.838 It is, in my opinion, 00:12:20.838 --> 00:12:25.442 a necessity, to define our life. 00:12:25.442 --> 00:12:28.338 Sometimes we have to decide this. 00:12:28.338 --> 00:12:31.006 And it's hard. 00:12:31.006 --> 00:12:35.507 Because once you've made a decision, your options are eliminated. 00:12:35.507 --> 00:12:39.695 And we like to live with options. 00:12:39.695 --> 00:12:42.621 We like to leave things open. 00:12:42.621 --> 00:12:45.747 Making the decision ends that, 00:12:45.747 --> 00:12:48.009 and that is what makes it so difficult. 00:12:48.009 --> 00:12:51.761 Saying, "Yes" is relatively easy. 00:12:51.761 --> 00:12:54.524 Saying, "No" is extremely hard, 00:12:54.524 --> 00:12:56.728 but extremely important. 00:12:57.638 --> 00:13:01.148 The best example is marriage, 00:13:01.148 --> 00:13:02.513 as the motto says, 00:13:02.513 --> 00:13:04.260 "You can't marry all of them." 00:13:04.260 --> 00:13:07.583 So that means a commitment. 00:13:07.583 --> 00:13:11.267 And we don't like commitments. 00:13:11.267 --> 00:13:14.135 Which is why the modern media allows us 00:13:14.135 --> 00:13:17.090 to no longer make commitments, 00:13:17.090 --> 00:13:21.870 that is, everything that you do today, with chats, etc. 00:13:21.870 --> 00:13:23.709 A very simple example: 00:13:23.709 --> 00:13:25.753 Where do we want to go tonight? 00:13:25.753 --> 00:13:27.832 What are we going to do tonight? 00:13:27.832 --> 00:13:29.941 This is a topic that today you wait 00:13:29.941 --> 00:13:32.941 until seven or eight o'clock in the evening to discuss 00:13:32.941 --> 00:13:35.978 before you decide. 00:13:35.978 --> 00:13:37.603 A long time ago it was different. 00:13:37.603 --> 00:13:41.341 A long time ago you would call on the telephone, 00:13:41.341 --> 00:13:45.457 but this continuous information, 00:13:45.457 --> 00:13:49.642 this always-being-available, didn't exist earlier. 00:13:49.642 --> 00:13:52.769 When my first daughter wanted to use the telephone 00:13:52.769 --> 00:13:54.834 there was one telephone in the house. 00:13:54.834 --> 00:13:57.038 It was in a clear, visible place. 00:13:57.038 --> 00:13:58.607 When you wanted to make a call 00:13:58.607 --> 00:14:00.115 you had to go to the phone 00:14:00.115 --> 00:14:01.864 and the whole family could hear 00:14:01.864 --> 00:14:03.502 what you said. 00:14:03.502 --> 00:14:05.082 It was uncomfortable. 00:14:05.082 --> 00:14:06.890 The second daughter had more luck. 00:14:06.890 --> 00:14:09.107 By then we had a cordless phone, 00:14:09.107 --> 00:14:11.777 you probably don't know the term anymore, 00:14:11.777 --> 00:14:14.888 and you could go into your own room 00:14:14.888 --> 00:14:17.125 when the reception was strong enough 00:14:17.125 --> 00:14:19.077 and the door was not closed all the way. 00:14:19.077 --> 00:14:20.775 But you could retreat. 00:14:20.775 --> 00:14:23.461 An entirely different quality of engagement. 00:14:23.461 --> 00:14:25.008 Then came the mobile phones, 00:14:25.008 --> 00:14:28.837 and today obviously the chat options and the internet 00:14:28.837 --> 00:14:32.020 being connected simultaneously with so many, 00:14:32.020 --> 00:14:34.625 without their parents knowing. 00:14:35.005 --> 00:14:39.753 Back to the very simple question, "What are we doing tonight?" 00:14:39.753 --> 00:14:43.139 Where as before you had to decide earlier in the day, 00:14:43.139 --> 00:14:46.366 now you don't have to decide until seven o'clock in the evening. 00:14:46.366 --> 00:14:48.195 This is something that is helping us 00:14:48.195 --> 00:14:51.023 to forget how to make decisions. 00:14:51.023 --> 00:14:53.868 And my point here is: 00:14:53.868 --> 00:14:57.331 make an effort to -- I will say a few more words about this -- 00:14:57.331 --> 00:15:00.944 endeavour to make the decisions 00:15:00.944 --> 00:15:03.092 even when it hurts. NOTE Paragraph 00:15:03.092 --> 00:15:07.897 I'm going to use the economy as an illustration. 00:15:07.897 --> 00:15:10.750 There you have to make decisions. 00:15:10.750 --> 00:15:14.997 In addition you have to be clear. 00:15:14.997 --> 00:15:17.288 We call this strategy. 00:15:17.288 --> 00:15:20.502 It is very simple -- make a plan to reach a goal 00:15:20.502 --> 00:15:23.752 and you have to consider what will lead to the goal. 00:15:23.752 --> 00:15:26.933 You develop options for the strategy, 00:15:26.933 --> 00:15:29.828 such as, "Where am I strong? Where is my company strong? 00:15:29.828 --> 00:15:31.683 Where are the others weak?" 00:15:31.683 --> 00:15:35.446 Then you choose which are the strongest aspects. 00:15:35.446 --> 00:15:40.492 And the choices that contribute to the strongest aspects 00:15:40.492 --> 00:15:43.165 help to reinforce them, 00:15:43.165 --> 00:15:45.907 and these then are the decisions. 00:15:45.907 --> 00:15:49.586 That means you need to set a benchmark for the decisions. 00:15:50.746 --> 00:15:53.058 It is a choice between alternatives. 00:15:53.058 --> 00:15:56.682 We're not talking about emotional choices, 00:15:56.682 --> 00:15:59.556 which are also important. I cannot speak to these. 00:15:59.556 --> 00:16:01.704 These choices you must make yourself, 00:16:01.704 --> 00:16:04.246 but there are rational decisions. 00:16:04.246 --> 00:16:07.949 And the guideline for these rational decisions, 00:16:07.949 --> 00:16:12.342 your strategy, you must take from your end goal. 00:16:12.342 --> 00:16:15.112 My suggestion to you is 00:16:15.112 --> 00:16:16.803 that you consider for yourself, 00:16:16.803 --> 00:16:19.239 not every day, but maybe every three - four months: 00:16:19.239 --> 00:16:20.823 Where do I really want to go? 00:16:20.823 --> 00:16:22.820 Where are my strengths? 00:16:22.820 --> 00:16:25.718 What are my weaknesses? 00:16:25.718 --> 00:16:28.499 How will I be seen from outside? 00:16:28.499 --> 00:16:30.935 How will I see myself? 00:16:31.255 --> 00:16:34.500 All of these are strategic questions for your personal life, 00:16:34.500 --> 00:16:36.408 for your future. 00:16:36.408 --> 00:16:38.931 You must choose 00:16:38.931 --> 00:16:40.609 and then you must evaluate. 00:16:40.609 --> 00:16:42.758 What is actually, really important to me? 00:16:42.758 --> 00:16:44.296 That is the hardest part. 00:16:44.296 --> 00:16:46.910 What is really important to me? 00:16:46.910 --> 00:16:48.541 When you have figured that out 00:16:48.541 --> 00:16:51.652 then you can align your choices with that. 00:16:51.652 --> 00:16:53.131 Back to my example: 00:16:53.131 --> 00:16:55.179 When the Mercedes is really important to you 00:16:55.179 --> 00:16:57.505 you have to earn money and you have to say, 00:16:57.505 --> 00:17:00.910 I'll take on some hardships in order to earn money, 00:17:00.910 --> 00:17:03.019 to earn a lot of money. 00:17:03.019 --> 00:17:05.406 You can also practice making choices. 00:17:05.406 --> 00:17:08.217 When you sit down on Monday morning once a week 00:17:08.217 --> 00:17:10.991 and ask: What do I want to accomplish this week? 00:17:10.991 --> 00:17:14.053 And then sit down on Friday and see: What did I accomplish? 00:17:14.053 --> 00:17:16.462 Then there are different possibilities. 00:17:16.462 --> 00:17:18.304 If you didn't accomplish anything, 00:17:18.304 --> 00:17:21.404 then either your goal wasn't right or it wasn't important, 00:17:21.404 --> 00:17:23.650 or you weren't honest with yourself. 00:17:23.650 --> 00:17:25.894 If you accomplished everything, 00:17:25.894 --> 00:17:27.871 the same can be said from the other side. 00:17:27.871 --> 00:17:32.000 Meaning, you must consider the question: What do I want accomplish in this week, 00:17:32.000 --> 00:17:35.607 in this year, in this life? 00:17:35.607 --> 00:17:38.747 What is actually, really important to me? 00:17:38.747 --> 00:17:43.172 and then take action based on this framework. 00:17:43.172 --> 00:17:45.742 I'd like to invite you to do this. 00:17:45.742 --> 00:17:47.651 Begin on Monday morning, 00:17:47.651 --> 00:17:50.070 to consider what you're going to do tonight. 00:17:50.070 --> 00:17:51.507 It is very simple, 00:17:51.507 --> 00:17:54.905 and will lead you, in the long run, to consider: 00:17:54.905 --> 00:17:57.776 What am I? What do I want to be? 00:17:57.776 --> 00:18:01.411 What do I want to accomplish or not accomplish? 00:18:01.411 --> 00:18:02.916 Those are you choices. 00:18:02.916 --> 00:18:08.013 Accordingly, in the words of Goethe, 00:18:08.013 --> 00:18:11.105 the decision is great and important, 00:18:11.105 --> 00:18:13.198 but the execution of it is equally critical. 00:18:13.198 --> 00:18:17.000 Otherwise it remains thought simulation. 00:18:18.500 --> 00:18:21.805 You need decisions 00:18:21.805 --> 00:18:23.929 in order to move beyond the mental exercise 00:18:23.929 --> 00:18:26.362 and enter into actual life. 00:18:26.362 --> 00:18:27.333 Thank you very much. 00:18:27.333 --> 00:18:29.753 (Applause)