Archive for March, 2008

Mar212008

Oakland Business Forum - Helping Michigan Businesses Succeed and 30 Seconds to Fame

As many of you know, I actively participate in the entrepreneur community here where I live in Metro Detroit.

The monthly meeting of the Oakland Business Forum is a big part of my activity and our most recent meeting this past Tuesday was absolutely fantastic. Entrepreneurs from across the region showed up to learn, network, build their businesses and grow.

Arthur “Bud” Liebler of Liebler-MacDonald Communication Strategies was the keynote speaker for the evening and gave an engaging and informative keynote address about how he sees the Michigan Economy turning around and the role the entrepreneurs will play.

The”Entrepreneur of Honor” for the evening, a local entrepreneur selected to showcase their businesses, was John Rohrbeck, owner of Tax and Financial Strategies. John shared with the audience his story of building a successful business after spending 30 years working in corporate America.

Back by popular demand was “30 seconds to fame,” the extreme business networking segment of the meeting. 5 attendees were selected to advertise their products and services in front of the room and also for the video camera. Check out the March 2008 Oakland Business Forum 30 seconds to fame below!

Stay tuned next month, for our April 15 meeting. The Oakland Business Forum meets at the Northfield Hilton in Troy, Michigan located at 5500 Crooks Blvd. Doors open at 6pm and your first meeting is free.

Mar132008

30 Second Thursdays - Volume 9 - Take a Step Back if You Can’t See the Forest Through the Trees

This week brought back to striking reality for me why it’s so important for us to focus on the big picture all the time. It’s important to keep things in perspective and have your goals in clear focus. If you don’t, you simply won’t get anything done of long term consequence.

Recently, I have been preparing for a workshop we are hosting this coming Saturday. When you are singularly focused on a goal, it’s easy to let all of the small, ultimately inconsequential things bounce right off you. To have the success you desire, your prescription of focus must come with a set of blinders.

For this week’s 30 Second Thursday (shot during a break in the action at command central) I go into this a little bit more.

Mar112008

Tuesday Top 5: 5 Reasons Why I Would Hire a Kirby Vacuum Salesperson Over a Harvard MBA

kirby

harvard

Some of you might be shocked to read this subject line. You might be thinking: “He’s crazy, he’d rather hire one of those disheveled guys in white shirts that try to schlep vacuum cleaners door to door then someone with a Master’s degree from one of the most prestigious universities in the world?”

Yes.

I’d rather hire someone, for my company, who thrived making money selling vacuum cleaners door-to-door then someone who danced cum laude out of Harvard’s famous and highly ranked business school.

Here is the part where I need to tell you why, so let’s get it on:

1. I like people that are FEARLESS

This one is easy. In 2008, if you aren’t afraid to walk up to someone in their home and try to sell a vacuum cleaner to them, then you are FEARLESS. One of the biggest problems that I see in the world today is that the business community is rising up a generation of WIMPS - people that are afraid to sell. Now, I’m not talking about a bunch of used car salesman, but someone is isn’t afraid to ask for the sale.

We have too many entrepreneurs that think that referrals and soft marketing will bring in enough money to feed them. They might skate by, but I will blow past them in the market place, because my people won’t be afraid to be aggressive and strong, showing the customer or client that we can take care of them better then anybody else. Yes, marketing is the driver of this, but you have to remember that everything you do is a sale. You sell your ideas, your concepts and your vision to your clients and customers as well as your employees and stakeholders.

Fear has no place when you are moving to the top.

2. I like people who can think on the fly

Good salespeople are like good jazz musicians, they can improvise on the fly. A good salesperson will swim in situations where others would surely drown. There isn’t always time to consult a report or get the consensus of your colleague’s then there are hundreds of thousands or even millions of dollars at stake. You have to make snap decisions and then ‘wing-it’ the rest of the way.

I can’t think of a better way to learn how to improvise then to be faced with a different type of customer with each sales call, having to make sure you are delivering the right message to each person. Talk about thinking on the fly.

3. I like people who can take rejection, chew it up and spit it out

Have you ever seen an attractive woman on a date with a guy who you thought should not have a chance with her? That she was ‘way out of his league’. There is no real secret to this, except for the fact that the guy asked her for the date. Many guys out there asking: “Is it that simple?” I think it is, but I am not a date doctor. Where I see this principle ring true in the business arena is simply asking for the sale. In order to ask for the sale, you have to be willing to take a good number of ‘no’ answers before you get a ‘yes.’

Most of the Harvard MBA’s I have met have not had much rejection in their life. They are All-Stars. High achievers. Most haven’t had doors slammed in their faces, heard the word ‘no’ said to them 1,000’s of times and been faced with the choice of selling or starving.

4. I like people that can deal with stress and ambiguity

In my humble view, the ability to handle stress effectively and function well in high intensity situations is one of the most endearing qualities a person can have. President John F. Kennedy said it best: “a rising tide lifts all boats.” Meaning, that when times are good you don’t know which ‘boats’ will sink or float. I love this analogy for business, and life for that matter, because it captures the essence of what separates the leaders from the rest of the pack.

Ambiguity is part of life. Very rarely do we have a fraction of the information that we would like to make the best decision we feel we can make. The ability to function and make decision with small amounts of information are what define good business leaders. Call it good ‘gut instinct’ if you will. Gut instincts are developed by being in hand-to-hand combat situations, like being eye-to-eye with a customer who would rather spit on you then look at you, let alone open up their wallet and give you money.

You just can’t earn these stripes slogging through financial modeling and game theoy analysis over Starbucks coffee at 10a.m. Walking through strange neighborhoods and taking on angry glares before you even get to present to one house is something that will teach you to deal with stress and ambiguity like nothing else.

5. I like people that are willing to learn the hard way

Life would be great if we could get everything we needed from case studies, group projects and internships. Business would be wonderful all the time if all I had to do was slap some proformas financial projections through Excel and take it to the bank. But, alas, it cannot be so in the trench warfare of 21st century entrepreneurial business.

Those that develop the thickest skin will generally win in the end. Sometimes business success can be summed up to nothing more than a battle of attrition. Anybody that has taken earned their stripes fighting in the trenches will win more in my book than somebody who has earned their stripes in the boardroom.

So, there you have it. I expect this week’s Top 5 to stir a bit of controversy. And, yes, I fully expect to hear back from some Kirby salespeople turned Harvard MBAs.

Mar62008

30 Second Thursdays - Volume 8 - Check Your Cultural and Country Biases at the Door

Most people that I talk to about outsourcing have stereotypes (maybe unconsciously) about service providers and locales. For example: “India is only good for IT and data entry work.” False. I have found fantastic outsourcing partners in the creative fields from countries like India, China.

This week’s 30 Second Thursday Addresses this critical point:

Mar52008

Tuesday Top 5: 5 Reasons People Don’t Delegate (and why it hurts them)

Sorry for the belated Top 5.  I was in the middle of drafting this post yesterday when something important pulled me away from my computer and, lo and behold, Wednesday was upon me!

Most of you know that I preach “do what you do best and outsource the rest.” A lot of people understand this and believe it. However, putting this into action, that is, focusing on what drives the true results (e.g. profits) in your business and delegating everything else to 3rd party service providers seems to cause a big disconnect with most small business owners and entrepreneurs.

If you cannot delegate, your business growth will be limited.  Maybe not now, but at some point in the future you will find yourself spinning your wheels.

In this spirit, the Tuesday Top 5 for this week highlights the reasons I have found for why people can’t/won’t delegate. My hope is that you might notice a few of these traits in yourself and take necessary remedial actions.

1. Control Freak-ism

You know this when you see it. This occurs when people absolutely have to be the proverbial chief cook and bottle washer in their business.  This has been expounded upon by countless gurus (think E-myth by Michael Gerber) but it is still a defining characteristic for the American small business owner.

If you always think that you can “do it better yourself,” “nobody can do it better” or “good help is hard to find” you may fall into the category of control freakism.
2. Communication Deficiency

Effective communication (I discussed this in last week’s 30 second Thursday) is a huge reason that people don’t delegate.  For someone to do something for you, they have to know what needs to be done.  If you can’t tell them what needs to be done, or what you want to be done, then it won’t get done.  Herein lies the problem:  Being able to clearly communicate priorities, tasks, processes, what decisions need to be made independently and how problems should be troubleshooted.

If you cannot pour out of your head what you want and how you want it done, you may be hitting communication roadblocks that will prevent you from getting to the next level.

3. Process Breakdown

Not having well documented processes and/or methods for performing tasks in your business will prevent you from being able to delegate and/or outsource these functions.  This is one of the biggest stumbling blocks that I see entrepreneurs trip over.  Many people get caught up in thinking that they need to develop complex flow charts and manuals in order to have effective processes.   However, I think that having a document with bullet points or numbered steps and checklists can be just as effective.

4. People/Vendor Selection

If you have been burned at all by a bad hiring of vendor selection decision, you can quickly develop an aversion to letting other people handle business tasks that are important.  Trust is important in any business relationship, whether you are delegating inside or outside your business.

I encourage everyone to carefully evaluate outsourcing providers before engaging in long term relationships.  The same should be true with employees (think 90 day probationary period).  The ultimate solution to this is to make your processes system dependent, so that you can plug in vendors or employees.  This will help mitigate (but not eliminate) your people risk.  The bottom line is that there are going to be people and vendor problems in your business, the only question is how well you can deal with it and not let it divert your focus.

5. Laziness

This one shouldn’t surprise you. How many people do you know that say things like: “nah…I’ll just take care of it myself.”  This boils down to mental laziness, and reverts back to “control freakism” in a way.  If you are mentally lazy, you won’t take the time to document what you do, what you want done, how you want it done and how you will measure success or failure.  It’s much easier, at first, to say “I’ll just do it” instead of creating a system that allows you to delegate the task to someone else so that you can focus on your core business and enjoying life.

Well, there we have it.  I hope that you can take these things to heart and evaluate them against your own practices.  Incremental improvements can add up quickly.  Make sure you stay a step ahead of your competitors and add more value to you customers by focusing on what you do best and outsourcing the rest!