Verne Harnish's Pearls of Entrepreneurial Wisdom: A Global Perspective
The evening of Monday August 20th was a night to remember. Verne Harnish, who is Founder of Entrepreneurs Organization (EO), Founder and CEO of Gazelles, Venture Columnist for Fortune Magazine, and Author of the international bestseller "Mastering the Rockefeller Habits," spoke to the Washington DC Chapter 0f EO. His visit was especially meaningful because EO is celebrating its 25th year, and the DC chapter was the inaugural EO chapter.Harnish brings more than 30 years of entrepreneurship experience, a global perspective, and an unmatched understanding of what business owners require to build lasting companies. Fifty business owners gathered at the home of our chapter president for education and inspiration from the individual who was responsible for creating the world's largest entrepreneurial community.
When the CEO Must Become the CPO (Chief Process Officer)
Traditionally, the CEO is responsible for the "heart" of the organization... the vision, culture, mission, strategy, and values. They are the "Chief Evangelist Officer," or the "Chief Cultural Officer" or even the "Chief Emotions Officer" (yes I've seen that one too).Conversely, it's usually the COO that is responsible for the "blood and guts of the organization" - the person that ensures the operations within the organization can support the vision.Strategy & Process are InterdependentExperience - backed up by a lot of research and peer consultation - has taught me that strategy and process are two sides of the same coin, and that the CEO must take ownership for the creation of the core processes that enable a business to run. It doesn't matter how strong a vision is. Without the processes required to execute, the strategy will fall flat. And while I absolutely believe that "culture eats strategy for breakfast," the one essential element that organizations require for healthy strategies, cultures, and ultimately growth is process.
Your Greatest Success Lies Directly Behind Your Greatest Challenges
"Every adversity, every failure and every heartache carries with it the seed of an equivalent or greater benefit."This is just one of the golden nuggets of wisdom that stays with me from one of my all-time favorite business books, "Three Feet From Gold" by by Sharon L. Lechter and Greg S. Reid. (http://threefeetaway.com/). The book is a synopsis of Napoleon Hill's philosophies for success (http://www.naphill.org/).The title conveys that people often give up on their dreams because they believe they can't succeed, when in reality, their success is within their grasp - sometimes literally three feet away.Feeling discouragement or even despair when we've convinced ourselves that success isn't an option happens to everyone. So how can we push past the negative thinking? How can we find the strength and resolve to continue for three more feet to find our own pot of gold?
The #1 Investment Entrepreneurs Must Make
What is the #1 investment entrepreneurs should make when building their business? It isn't sales, marketing, IT, or customer service.
Six Unique Traits Biz Owners Look For in Potential New Hires
As a business owner always looking for exceptional talent, and as a mentor to emerging entrepreneurs seeking guidance on how to hire great people, I've learned that there are six definitive traits that great potential new hires share. These apply to candidates in all positions, in every sector, at any level - from intern to senior management.If you're in the market for a new position, if you're charged with scouting for new talent in your organization, or if you're a business owner trying to make those essential first hires, consider these characteristics or behaviors.
10 Ways to Lose Prospects as Soon As They Hear your Voice
If you pick up the phone and start making calls without thinking about your approach, habit and the phrases you've picked up from telemarketing calls you have received over the years are going to dominate what you say. Surprise, surprise: that's not the most effective way to make calls. You may be committing age-old blunders without even knowing it. These strategies were written by one of my Mastermind group members, friend, and trusted advisor Bill Cates, also known as The Referral Coach.(http://www.referralcoach.com/). Bill is THE EXPERT for anyone who wants to know how to build a thriving referral-based business.Here's a quick checklist of classic telephone prospecting mistakes. Are you making any of them? If so, take action to rectify your approach!
Goldman Sachs Exec: Leaving Due to "Toxic Culture." Three Lessons for All of Us.
This past week, veteran Goldman Sachs employee Greg Smith submitted his resignation via the New York Times, due to the "toxic culture" that now permeates the organization. "I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.... The firm has veered so far from the place I joined right out of college that I can no longer in good conscience say that I identify with what it stands for," he said.Smith's resignation cost the company more than $2 billion.
Honest Tea CEO Seth Goldman Takes Persistence & A Commitment to Mission to New Heights
Imagine pitching your idea to 1,000 investors. Over and over and over again. A little insane, right? Not if you're Seth Goldman, CEO and C-Tea-O of Honest Tea. When we think of Honest Tea, we think of a delicious beverage, and a wildly successful business.Dig a little deeper into the roots of Honest Tea, and you'll discover an entrepreneur who is forever committed to the mission of "changing the way people eat, drink, think and live."Seth shared the struggles of his early days with 300 business leaders at the sold-out ConnectPreneur Event in the DC region, architected by global serial entrepreneur and angel investor Tien Wong, CEO of Lore Systems (www.lore.net).
I Challenge You to Ask Yourself: Where are You on Your Ladder of Learning?
It occurred to me this weekend after I attended Yanik Silver's (http://www.yaniksilver.com/) Underground 8 Online Seminar that one of the primary reasons I am SO FIRED UP about my future is because I am on the LOWEST RUNG of what I call my Personal Learning Ladder™ (PLL). I can't remember the last time I learned so much in such a short period of time.... Learning opportunities are all around us. We have unprecedented access to knowledge, people, and information that previously was unattainable. What are you doing to continue your learning and growth?
Creating a Culture of High Engagement - And a Future That is Bigger and Better than Your Past
How engaged are you in building a bigger and better future for you, your company, your family, our world?That was one of the questions I pondered as I absorbed every word that Matthew Kelly delivered at a recent Entrepreneurs Organization (www.eonetwork.org) event. Kelly is a master organizational consultant to several Fortune 500 organizations on the issue of employee engagement. He is also the author of the New York Times Best Seller "Off-Balance" and "The Dream Manager." Kelly led 125 entrepreneurs through the thought-provoking exercise of questioning our own engagement, as well as the engagement of those around us, such as our employees.
Preserve, Destroy, Create: Your Only Path to Breakthrough Growth
"If it's not broken, why fix it?" We've all said that as a justification for not moving forward with a difficult situation or decision. The question is, what if the status quo is broken and we're just ignoring the need for repair? What if we lack the awareness, clarity, courage, or strength to take painful action to get to a better place? Business activity falls into three buckets: Preservation, Destruction, or Creation. To move to the next level, a business must go through all three phases.
Are You The Gatorade of Your Market? "No one else has the ability or right to do what we do in our market."
When you hear "Gatorade," what do you think? While the name may conjure up seemingly simple ideas such as "sports drink" or "flavored water," the science behind the Gatorade brand is actually very complex, and is focused on something much bigger, bolder, and specific.Sarah Robb O'Hogan, North American President of Gatorade and Global Chief Marketing officer of Sports Nutrition for PepsiCo, shared how Gatorade's brand weakened during the bloated economy, and how the recession brought the brand back to its core consumer. Gatorade's global mission is "to be the world leader in innovative sports nutrition." Says O'Hagan: "No one else has the ability or the right to do what we do in our market."
15 Ways to Be a Lousy CEO
Leadership isn't just about knowing how to do the right things. It's also about being hyper-aware of behaviors that can quickly alienate your employees and bring down your organization. In a position of leadership, everything you do counts. All eyes are on you, even when you aren't there. Employees feel your presence throughout the day because you set the tone. This is what it means to be a leader - to be aware of how your actions and decisions impact others even when you are physically absent. My 17 years of business leadership have taught me 15 ways how to fail at leadership.
Strategies for Evaluating and Building a Solid Banking Relationship
One of the most important strategic relationships a business owner has is with his/her banker. Yet so often, we treat this relationship as a commodity.Switching banks is not something that I would recommend lightly. As veteran business owners know, the process is cumbersome, stressful, and time-consuming even under the best circumstances. However, sometimes you have to know when it's time to make a change.
Status Quo Bringing You Down? Our Obsession With Being Better
It's that time of the year when we tell ourselves that we're going to be better next year. There's no shortage of experts to help us achieve "better" or "more." Is it just me, or are we experiencing an obsession with how-to-lists, habit lists, and steps to a better place?
Group Dynamics: Small Stones Cast Big Ripples
Throw a tiny pebble into a pond and watch the ripples reverberate. They cascade outward beyond the point that our eyes can see. The effects occur on the surface and beneath it. Have you ever thought about this change principle in the context of an organization? One of the most disruptive actions regarding a group's dynamic is the addition of a new member. In an organization, bringing in just one new employee into a company can potentially affect the chemistry and interactions of existing employees, and therefore compromise productivity. Consciously or subconsciously, employees are thinking, "How will this change affect my job?" "How will this person affect how we do things around here?" Their sense of organizational trust may be challenged.
"Always." "Never." "Every." A Guaranteed Path to Failure.
Always, Never, and Every are the easiest ways to set yourself up for failure. There's no room for error. Everything is presented as an all-or-none... an absolute. Who wants to live life with no wiggle room for error?The quest for perfection is too exhausting and completely self-sabotaging.Be a little kinder to yourself. Show some self-love. Lower the self-expectations just a notch.
Getting to "I Love What I Do and I'm Great At It."
How much valuable time do you expend on activities that don't fuel your passion or make you struggle? That's the question I considered as I listened to David Siteman Garland talk about the activities that fill our time on a daily basis. David was a special guest at an event hosted by one of the most remarkable networking communities in the DC region called Cadre
As an Entrepreneur, 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.
Creating a Culture of Fanatical Belief: The Most Brilliant Marketing Campaign. EVER.
What if you could generate about $1.6 million in sales every year by filling a room with people that pay you to stare at them? Meet "Braco" (pronounced Braht-zo), a "gentle man from Croatia" who apparently has a remarkable gift that has helped countless lives. Each year, 200,000 people pay $8 each to stare at Braco for 30 minutes. In silence. He tours the U.S. and Europe to reach people who are "seeking help from life's difficulties, health problems, relationship issues, and more."