I am writing this week’s blog on Friday, October 5, which has great significance for me. My partner of 20 years back in my investment days was born on this day, along with my lifelong best friend Ronald Poles. It is also one year from the day that Steve Jobs passed away. Verne Harnish reminded me of this in his blog, and he shared this video put out by Apple. It is a nice tribute and a great reminder of what he and Apple have done for our everyday lives.
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I Built This!
Given some of the recent comments by those in the White House, I must share the experience of my own entrepreneur journey and how it differs from these recent statements.
When I was starting a mutual fund, I dealt with many people and agencies of both the state and federal governments. Their job was to ensure I met every regulatory obligation they could think of, and they seemed to come up with even more. I found nothing but roadblocks getting in my way as I tried to get this mutual fund off the ground.
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Solve 3 Key Pains for Growth
When we go out into the world and try to connect with others and tell them about growing our business, we tend to do it in a way that it is all about us rather than about them. We say how great, wonderful, and life changing our product or service is going to be for them. The problem with this is that they don’t care about all the features your product or service offers. They want to know how it will specifically help them solve their pain points.
In a meeting earlier this week, my business associate Alex Lavidge boiled it down to three key issues. He asked whether it will:
1) SAVE ME TIME
2) SAVE ME MONEY
3) GROW A NEW REVENUE STREAM
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Rolling With Change!
My software team and I at Efficience had a business meeting with an investment firm this week, and it was exciting to be back in that world again and see the latest happenings! They had an interest in a mobile app, which is what we are talking about to many companies these days.
The businesses on the forefront are seeing with their own eyes how the Smartphone is enhancing the opportunity to connect and create real interaction and relationships. This is an exciting space to be in, and I am thrilled to have placed myself on this path.
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Can the Entrepreneur Optimism Be Risky?
As an entrepreneur, I consider myself a pretty optimistic person. I look to the future and see a rosy picture filled with visions of a lifestyle that incorporates my dreams. I will sacrifice now acknowledging that I will see better times ahead. Knowing that the little steps of progress I see in my company is leading to something better really gets me excited, and the optimism overflows even more! Have you ever thought this could be a little risky? I didn’t, but let’s explore this some more.
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STOP Doing It!
So much of what we do in business is about the things we need to get done. I need to write a report. I need to send e-mails to my clients. I need to create a budget. I need to put a plan together for the next quarterly meeting. On and on it goes with stuff we need to do in order to make progress in our business. Nothing is wrong with this, especially when it creates progress. Progress has been determined to be the number one motivator of both business owners and employees.
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Creating a Jobs Economy
Our nation is struggling to create jobs. You’ve likely heard that regulations have limited businesses’ capital, making it difficult for them to hire or expand. Have you wondered what types of changes to these regulations would help this economy create more jobs? Let’s discuss a few key changes that have worked in the past to encourage companies to grow and hire more people.
Many regulations create a big problem for the economy. Which regulations and policies are stopping us from creating the jobs that we are missing? Amity Shlaes writes an interesting article in the Wall Street Journal, Three Policies That Gave Us the Jobs Economy.”
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Three Things Scrooge Would Say About Our Business
As we approach Christmas and get to spend more time with our family and friends in a spirited, colorful environment full of lights, we open our hearts and our pocket books to give and share what we have with others. While I cannot speak for you, it makes me feel good to give to others. When it is done with sincerity, I feel it has that effect similar to when the Grinch’s heart grows three sizes. It changed him. I look to the holidays to have that growing heart experience and hope the holidays have the same effect on you.
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3 Steps Forward, 2 Steps Back
Growing a business doesn’t happen overnight (usually). It’s happens step by step, one decision at a time. As business leaders, we are faced with making decisions every day. We constantly strive to collect as much information as possible, and then act on that knowledge in an attempt to move our companies forward and upward.
I recently had a conversation with my office manager Mukesh in Pondicherry, India, where he was asking my advice on making decisions. More specifically, he wanted to know how much information he needed to hold out for before making a decision. It occurred to me that many of us struggle with the same question. How long does one wait and continue to collect information before making a decision, without worry that it is wrong?
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SWOT your Way to Focus and Flow!
When you run a business, various opportunities often present themselves and persuade you to run off in different directions, pulling you away from your focus. This happens to me frequently, and I find it difficult to avoid being sucked down a path that sounds like the next great avenue for huge success.
Thankfully, my partners, EO Forum, or my team usually slap me back into reality. Taking a closer look at what you are doing can also help you discover if these opportunities are worthy or if the current focus is best.
