Boxed In? 4 Ways to Transform Your Corner into a Doorway
One of my favorite books when I was growing up was “Harold and the Purple Crayon.” With the stroke of a purple crayon, Harold designs the life he imagines. When he wants to go for a walk, he draws a moonlit path. When he’s hungry, he draws himself a lunch. When he becomes scared of his own illustrated dragon, he creates an ocean and a sailboat to escape just in time.Harold uses his creative thinking to escape from life’s corners that constrain him.People with big vision often find themselves painted into a corner. We set upon our path, often underestimating or unaware of the obstacles that may get in our way of progress. Or, we over-commit, and find ourselves completely overwhelmed with what we have promised to others. Wouldn’t it be great if we could draw ourselves an ocean and a sailboat, and simply sail away to a far-away land?We can’t do that, but when our backs are up against the wall, we can create additional paths to lead us out of our corners. We can transform our corners into a doorway.
Your Banking Relationship: Worth its Weight In Gold
Entrepreneurship is all about calculated risk. We can create strategic plans, implement repeatable processes, hire the top people, and engage with the best customers. However, the only way to grow to the next level is to bite off more than you can chew, and pray you don't choke.I know the feeling of biting off more than you can chew. Four years ago, Information Experts made the strategic decision to invest in a newly formed Joint Venture (JV) to pursue a multi-billion dollar Department of State program. The risk was ridiculously high but the possible reward was astronomical.
Driving an Intrapreneurial Spirit and Mindset
I'm working with a great company who's committed to moving to the next level of growth. The owner/founder has done a very good job of establishing himself as a highly dependable and reputable subcontractor, but wants to triple the company size, and evolve into a prime contractor over the next 3 years. We have a lot of work to do. To make this pivot, we have to build his infrastructure, implement required processes, and align with the right people.One of our most immediate tasks is to evaluate and shift the mindset and commitment of his current team. Growth can't happen alone. It takes a village to build a business.
Avoiding SP-RH Syndrome
It's all coming back to me....the early days of building a business, and laying a solid foundation to support healthy growth. I find myself with lengthy to-do lists that require many sets of helping hands. It's tempting to simply throw new tasks over the fence to those that have already proven to be experts as I grow Successful Culture.But wait. I've been down this road before with Information Experts. I've bitten off more than I can chew, and then tossed the overflow to a team mate. Eager to please, they say yes, even though my new request is outside of their core expertise... setting us both up for disappointment.
The Three Things Companies Need to Thrive
I've had a slew of podcast interviews over the last few weeks, and virtually all of the hosts have asked me what I think is the necessary ingredient for continued business growth. I speak from a place of making mistakes, and from getting things right over the last 20 years.The three things I believe companies need to survive are a market niche, relevancy, and a mindset of greatness. I've named them in order of difficulty.
It's Not Personal; It's Our Values
Values dictate every major decision and action in an organization - from the clients that a company engages, to the people that a company hires, to seemingly simple behaviors such as leaving a door open or closed. Values determine our behavior when others are not around to watch us. They are the core of integrity - which manifests when values are integrated with our actions. Personally and professionally, they frame the most important aspects of who we are, and what matters to us.
Who Is the Best Sales Person in Your Company?
One of my coaching clients called me this week, asking for advice on where to find a great sales rep. She's launching a start-up that has been in the works for months, and is obviously anxious to get her product to the market. My advice to her was to look in the mirror. That's where she would find her best sales rep.
Starting 2014 Right With A Strong Marketing Strategy (That Won't Break The Bank)
I came across a compilation of 19 shoestring-budget strategies that will help you connect with your target audience without going broke - exactly what a small business needs to expand their presence and stay financially healthy.Here are my suggestions to move these ideas to implementation.1: Pick three out of the list and focus on them. If you try to tackle the entire list, you will do a mediocre or poor job for all of them. Then, once those are done, move to the next three. The greatest ideas fail at implementation because we bite off more than we chew.2: Determine what you can outsource, and what you need to manage yourself. For example, if you decide to join a Chamber, you personally need to cultivate those relationships, so ensure you have enough time to be present in the organization. If you decide to write a blog, you need to build your editorial calendar and write your blogs, but can outsource the mechanics of posting and sharing.As a small business owner, deciding how and where you will dedicate your very limited time is essential to your success.3: Finally, if an idea isn't working for you, pivot quickly. Drop the tactic and move on. It's all about figuring out what works best for you at this point in time.Here is the link to the complete presentation.Here are the tips:
Setting Yourself Up for 2014 Success
What can you do between now and January 1st to ensure your 2014 is your best year yet?One of my most impactful success strategies is having accountability partners. I have two accountability partners. One keeps me on track with all aspects of my life... My entire to-do list for Information Experts, Successful Culture, my writing, my media strategy, my family, my friendships, and my health & wellness. My whole life is organized according to the spreadsheet I deliver to her in preparation for our weekly Thursday morning calls.My second accountability partner keeps me on track with my Successful Culture growth strategy. We learn together, build our business plans together, share best practices, put deadlines in place for growth milestones; and we are even planning a series of co-branded live events in 2014. We have all-day monthly planning meetings, as well as twice-monthly phone check-ins.
Monday Mindfulness: Appreciating The Pause
As much of the country is blanketed in snow and ice, this is a perfect time to pause... to take a deep breath, notice the beauty of our surroundings, and slow down. Yes, the snow wreaks havoc on our well-assembled plans. School is canceled, day-care is closed, meetings and appointments are pushed aside, our travel plans are either rescheduled or delayed.Fortunately for most of us, however, the winter weather is nothing more than an inconvenience.Two of my favorite things about the snow (besides snow angels) are the way it falls in solitude, and the visual effect it has on our landscape. Both of these gifts are actually deceptive, for beneath the snow lies Spring. While we are in the moment of the winter solstice, we shift focus away from the fact that just beneath our feet, and also just above our heads is growing grass and budding trees & flowers. Even in the stillness and solitude of a snowstorm, Spring life continues to push forward.
Making a Partnership Work
Businesses can't grow without strategic partnerships. When thoughtfully selected, the right partner can enhance a company's client base, capabilities, market presence, and overall brand. When selected poorly, the wrong partner can result in wasted time, energy, and resources, with nothing to show for your efforts, and can potentially harm your company or reputation.
Want Credibility? Be Your Own Client. Would You Hire Yourself?
No one would buy a luxury home from a builder living in a shack, or trust a wealth manager that was financially irresponsible. When we evaluate the skills of web designers or graphic artists, we ask to see a portfolio of work, and we visit their sites.Our own actions give us credibility, or they discredit us. There is no in-between.Would you hire yourself?
Every Day is Independence Day for Entrepreneurs
Entrepreneurship is as American as apple pie, baseball, and SpongeBob Squarepants. The essence behind entrepreneurship is the freedom to live a professional life that has the most meaning to you - to not be defined by someone else's value system, personal vision & goals, and decisions. But with that freedom comes tremendous accountability, responsibility, and risk.As SpongeBob and Patrick so eloquently discussed, entrepreneurship has unlimited possibilities. With entrepreneurship, we are limited only by our own vision (and money - but we can often find it if we look in the right places). However, entrepreneurship does bring its own pain and suffering with it, so to answer Patrick's question, yes entrepreneurship can hurt at times.
Eight Lessons for Success (And Some Other Insights) by Barbara Corcoran
I had the privilege of speaking at the National Women Business Owners Corporation (NWBOC - www.nwboc.org) conference last week in Palm Beach, Florida. One of the highlights of the conference (where 200 women business owners came together to learn, share, and connect) was keynote Barbara Corcoran. Barbara is one of the most successful entrepreneurs in the country. She took a $1,000 loan to start her real estate company, The Corcoran Group, which she grew into a $5 billion business. She sold the firm for $66 million in 2001.Barbara is also a host and investor on ABC's Shark Tank. During the last three seasons, she has bought 11 new businesses. She is also the author of three best-selling books, and is a regular small business and real estate contributor on all of the major networks.Like all great entrepreneurs, Barbara's journey to success has been filled with wonderful lessons. I have summarized them here for you.
Selecting your networking communities; Top DC 7, best learning community, favorite online spots, best events
As a follow-up to my March 10th Washington Business Report segment on strategic networking (http://bcove.me/xuc1biiy), I've compiled strategies on selecting the networking communities that are right for you. I've also listed the top 10 networking communities, along with information on the best learning community, the best events, and my favorite online spots.First, let's look at five ways that will help you decide where and with whom your should spend your valuable time.
Rejected by TED... No Problem! "No" Means "Not Yet"
February was a month of wins - and losses. Everyone talks about their wins, so I'm going to move right past those, and get to the topic that that leaders rarely glorify: the losses.I was rejected in February by TED. TED stands for Technology, Engineering and Design. There are TED events all over the world that feature speakers that have ideas worth spreading. The TED website (www.ted.com) is my all-time favorite site because it opens our minds to so many ways of thinking about things we've never even thought about! It spotlights our greatest potential in any topic you can imagine.
When Your Bedroom Becomes Your Boardroom: (Happily) Working With Your Spouse
Spouses that choose to work together embark on a very unique journey. This arrangement is not a conventional marriage. Two of the hardest things a person can attempt is to build a successful business and a successful marriage. 90 percent of all businesses fail within the first 5 years. The divorce rate (in the U.S.) is now higher than 50 percent. Combine these two endeavors, and you face a lot of risk. There is a lot at stake at home and at work if things get rocky. The levels of expectations for one another are much higher than in a typical business partnership or typical marriage. Consideration must extend much further than, "I have this great business idea, can you help me?"As a follow up to my January 10, 2013 segment on Washington Business Report (http://www.wjla.com/articles/2013/02/washington-business-report-feb-10-2013-85006.html) on working with your spouse, I've interviewed several other business owners who have braved this model to learn what makes it work, and how to avoid trouble in paradise. Rather than giving a simple bulleted list of strategies such as "schedule a date night" or "agree not to talk about marriage at home," I'm sharing a more detailed behind-the-scenes glimpse of the complexities of this arrangement. If you are currently working with your spouse, or thinking about it, this is an important column for you.
Accountability and Goal-Setting (Follow-up to WBR Segment 1/13/2013)
My January small business segment on ABC’s Washington Business Report with Rebecca Cooper-Dupin focused on accountability and goal-setting strategies to start 2013 strong. Accompanying me was my accountability partner and personal financial advisor, Anne McCabe Triana, owner of CAM Private Wealth (http://www.camprivatewealth.com). I've expanded on those strategies here, incorporating many great ideas from other small business owners.
Five Ways To Make The Most of Your Holiday Downtime
How we can make the most of our holiday downtime - you know those pockets of time when office productivity is low, laziness is high, and we're all pressing the reset button to move into the new year? I came across an article by Kevin Daum (http://www.kevindaum.com), a best-selling author, Inc columnist, Inc 500 entrepreneur, and fellow Entrepreneurs Organization (http://www.eonetwork.org) member that answered this question.I've taken 2 of his suggestions and mixed them with 3 of mine. Whether you're the reflective, spiritual, meditative type, the hyper-focused Type-A type, or somewhere in between, there should be something for everyone on this list.
As an Entrepreneur, 11 Things For Which I am Thankful
It's always the right time to live life from a place of gratitude. With Thanksgiving just around the corner, today I reflect on what it means to be thankful as an entrepreneur.