The Memorial Day Weekend

I’m ready for a break from the routine. I’ve been working way too hard over the past few years and this short, three day weekend is something I need to refresh. I’m heading out for the weekend with my wife to a very cool resort where we’ll celebrate our anniversary.

Now, I’ll bet many people are in the same situation and are physically, mentally and emotionally wrung out. One thing I know is that trying to get a business up and running from scratch is not so easy… At least weekly I’m reminded of the book, the E-Myth. I’m sure that I don’t agree with all of what the author espouses but there is certainly a lot of truth in the book about the grind of running a new business and the frustration that an owner can have.

My background in sales and later experience in running turnarounds has probably given me a little better ability to deal with the day to day issues and challenges than many people. In sales, you get a lot of rejection and you don’t win the vast majority of the deals you are working on. Often, winning a new client or contract is in the sub 50% range, perhaps as low as 15% depending on the industry (BTW, anyone who tells you they consistently close deals 2/3 or more of the time are either exaggerating, lying or don’t have their facts together. There are a few exceptions). In a turnaround, every day is a day focused on survival and it’s usually tied to the company’s cash position. No cash, no company. All of the things you do in a turnaround situation are geared toward bringing in sales and controlling expenses on a daily basis. There is no grace period. In both sales and the turnarounds, you have to get up and go back at it hard every day. You have to drag your butt out of bed and recharge yourself in the physical, mental and emotional areas and then project a winning and confident image to the people you engage with. It’s not easy but it has to be done.

So, what I’ve come to learn about myself that has application for most, and it’s not a new concept, is that periodic refreshment in the middle of a difficult storm or on-going challenge, is required. I need to be staying on my fitness program (physical). I need to be taking time to continually learn new things (mental). I need to connect with people who can offer me love, support and encouragement (emotional). And that’s what I’ll be doing this weekend. I think I’ll come back with a healthier mindset and some new ideas on how to move my business and life forward, toward the vision I have for it. What about you? What are you doing to refresh and recharge? Are you taking the time to do so?

The Memorial Day Weekend

I’m ready for a break from the routine. I’ve been working way too hard over the past few years and this short, three day weekend is something I need to refresh. I’m heading out for the weekend with my wife to a very cool resort where we’ll celebrate our anniversary.

Now, I’ll bet many people are in the same situation and are physically, mentally and emotionally wrung out. One thing I know is that trying to get a business up and running from scratch is not so easy… At least weekly I’m reminded of the book, the E-Myth. I’m sure that I don’t agree with all of what the author espouses but there is certainly a lot of truth in the book about the grind of running a new business and the frustration that an owner can have.

My background in sales and later experience in running turnarounds has probably given me a little better ability to deal with the day to day issues and challenges than many people. In sales, you get a lot of rejection and you don’t win the vast majority of the deals you are working on. Often, winning a new client or contract is in the sub 50% range, perhaps as low as 15% depending on the industry (BTW, anyone who tells you they consistently close deals 2/3 or more of the time are either exaggerating, lying or don’t have their facts together. There are few exceptions- those are sales superstars who earn well over $1mil each year). In a turnaround, every day is a day focused on survival and it’s usually tied to the company’s cash position. No cash, no company. All of the things you do in a turnaround situation are geared toward bringing in sales and controlling expenses on a daily basis. There is no grace period. In both sales and the turnarounds, you have to get up and go back at it hard every day. You have to drag your butt out of bed and recharge yourself in the physical, mental and emotional areas and then project a winning and confident image to the people you engage with. It’s not easy but it has to be done.

So, what I’ve come to learn about myself that has application for most, and it’s not a new concept, is that periodic refreshment in the middle of a difficult storm or on-going challenge, is required. I need to be staying on my fitness program (physical). I need to be taking time to continually learn new things (mental). I need to connect with people who can offer me love, support and encouragement (emotional). And that’s what I’ll be doing this weekend. I think I’ll come back with a healthier mindset and some new ideas on how to move my business and life forward, toward the vision I have for it. What about you? What are you doing to refresh and recharge? Are you taking the time to do so?

Learning from observing

I’ve had a gap in my blogging for the past ten days. That’s not good- not because what I have to write has huge impact on the world but rather, writing a blog forces me to think. Actually, writing anything forces me to think. It could be a presentation, a short speech, development of a workshop- anything. The process forces me to examine what I know or have learned and that often, writing (or, authoring) is a way for me or any writer to validate ideas and stir creativity that furthers learning. Now, I ask myself, what did I learn this week that is worth putting in writing? First, my take on what learning means- learning for me includes both new information or insights and revalidation of prior learning (accumulated knowledge and experiences).

This week I had the opportunity to meet with various small business owners in different venues. The main thing that struck me was how passionate they are about improving their businesses and taking them to another level. These people are committed to profitability and doing all they can to get the biggest return possible. Yet, they are in the minority of many small business owners that I have run across in that they are open to coaching, instruction by others and being held accountable for their commitments. They have experienced numerous frustrations in their businesses and have concluded that they don’t have all the answers- there are others they can learn from.

And, from what I could gather, they are genuinely interested in building a real team of performers. They want to get the right people in place and be consistent and forward thinking in the ways they handle employee issues, education and rewards and recognition.

At one meeting, a business owner stated, “Why should we recognize or reward someone for doing the job they were hired to do? That’s what they were brought into the company for- to do a specific job and get results.” The group response was that recognition didn’t have to be monetary in the form of a bonus. It could take another form, such as regular encouragement, pats on the back, recognition in front of other employees, a simple coffee gift card, etc. The key is to be consistent in recognizing your people for doing good work- it builds a Positive Mental Attitude environment. When people come to work at a place where they know they will be recognized for doing good work day in and day out, it becomes a place where they feel valued. And people need to have a sense of value or worth. Research shows that companies with healthy employee cultures perform at higher levels.

Learning from observing

I’ve had a gap in my blogging for the past ten days. That’s not good- not because what I have to write has huge impact on the world but rather, writing a blog forces me to think. Actually, writing anything forces me to think. It could be a presentation, a short speech, development of a workshop- anything. The process forces me to examine what I know or have learned and that often, writing (or, authoring) is a way for me or any writer to validate ideas and stir creativity that furthers learning. Now, I ask myself, what did I learn this week that is worth putting in writing? First, my take on what learning means- learning for me includes both new information or insights and revalidation of prior learning (accumulated knowledge and experiences).

This week I had the opportunity to meet with various small business owners in different venues. The main thing that struck me was how passionate they are about improving their businesses and taking them to another level. These people are committed to profitability and doing all they can to get the biggest return possible. Yet, they are in the minority of many small business owners that I have run across in that they are open to coaching, instruction by others and being held accountable for their commitments. They have experienced numerous frustrations in their businesses and have concluded that they don’t have all the answers- there are others they can learn from.

And, from what I could gather, they are genuinely interested in building a real team of performers. They want to get the right people in place and be consistent and forward thinking in the ways they handle employee issues, education and rewards and recognition.

At one meeting, a business owner stated, “Why should we recognize or reward someone for doing the job they were hired to do? That’s what they were brought into the company for- to do a specific job and get results.” The group response was that recognition didn’t have to be monetary in the form of a bonus. It could take another form, such as regular encouragement, pats on the back, recognition in front of other employees, a simple coffee gift card, etc. The key is to be consistent in recognizing your people for doing good work- it builds a Positive Mental Attitude environment. When people come to work at a place where they know they will be recognized for doing good work day in and day out, it becomes a place where they feel valued. And people need to have a sense of value or worth. Research shows that companies with healthy employee cultures perform at higher levels.

The Importance Of Knowing Where You’re Going and Knowing Your Market Niche, #2

To continue my last blog comments…my visit to an old friend and business associate, someone I worked alongside for about four years. He’s recently bought a business in one of these traditional businesses- a small printing company. So, hours after attending the author’s talk at the Columbia Tower Club I met him at his facility. Obviously, I had the key points from the talk by Keith McFarland on April 29^th on my mind and I thought I’d see if any of them fit him and his company. To be sure, it’s way too early in the game for evaluation and he’s just getting his feet wet with this business, although not with the industry. He knows that stone cold. So, what is he doing in relation to the following points? Remember, he’s inherited a company and its cultures (behaviors, norms, methods, standards, values).

First, it is not what you make; it is what you make of it. He’s not trying to reinvent the wheel and he’s focused on using the core competencies of the organization in new ways. New products and techniques using existing equipment and know-how are helping to differentiate the company in the marketplace. An example: a laminated, embossed business card- this is so cool you have to see it. Another: shelf talkers printed on thin film plastic, to improve the lifespan of the ad or promo on the product it’s attached to.

Second, it is not how you as a company owner/leader are wired; it is how you wire the company. He’s taking steps to reorganize the team, with the goal on speeding up processes and delivering superior customer service. And, he’s gradually working on changing the way people think about the business- how it looks, how it operates, etc.

Third, it is not about getting the right people, it is about getting your people right. And lastly, he’s pretty much sticking with the people he inherited. He’s taking the time to teach them new ideas, show them new methods and communicating where the company is headed.

In just four months, he’s started this already successful company down a path with more versatility and is positioning it for growth- again, in a traditional industry that many are writing off as uninteresting or irrelevant.