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.
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?
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.
Recognizing the Positive Leadership of Carnival Cruise Lines CEO Gerry Cahill
The disaster of the failed Carnival Triumph cruise ship has captivated all of us over the last week.As a frequent cruiser who has cruised Carnival and other lines, I cringed upon seeing the pictures and videos of the squalor and disgusting conditions aboard ship. I sympathized with the passengers who entrusted their safety to Carnival, yet found themselves living a week-long, potentially life-endangering nightmare. Throughout the course of the week, I kept asking myself how well I would cope with being trapped on board with my family.Fortunately, the nightmare has ended, now that the ship has docked in Mobile Alabama, with all passengers and crew members safe (albeit hungry and dirty).Throughout this disaster, I've been watching how CEO Gerry Cahill has conducted himself. Personally, I think he has done an exceptional job - especially compared to Former BP CEO Tony Hayward during the 2010 oil spill disaster that claimed 11 lives and has spewed 100 million gallons of toxic oil into the Gulf of Mexico. - and here's why:
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.
Growing Into the Title of CEO Starts Today - Four Reasons Why It Must.
As a small business owner, nothing communicates confidence to prospective customers, employees, and partners more than your title as CEO.In just three letters, the title communicates self-confidence, leadership, vision, strategy, and credibility.
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.
Are You a Colossal Entrepreneur?
At last week's Cadre event (http://www.cadredc.com/), I had the opportunity to hear best selling author Mike Michalowicz (http://mikemichalowicz.com/) speak about his theory of Colossal Entrepreneurship, which is the basis of his book, "The Pumpkin Plan." Just when I think I have finally mastered the whole entrepreneurship mindset, a new perspective comes along that makes me re-think my whole approach.This is what happened with Mike. His idea of "The Pumpkin Plan" came from observing pumpkin farmers that grow colossal pumpkins over the course of a year. Those pumpkins don't magically appear because of a healthy crop season and good luck. These farmers follow a systematic approach to pumpkin growth that differs from the strategies traditional farmers use to grow the maximum quantity of pumpkins possible.
Two Most Common Entrepreneurial Attributes - Not What You Think!
Entrepreneurs know that they require tremendous resilience and energy to recover from setbacks, move through challenges, and inspire others when situations are difficult. I'm often asked how I do have so much energy - especially since I live a caffeine-free/sugar-free life (no coffee, soda - or even chocolate as of October 1st).I never have an answer because I don't really understand what people are talking about. I only operate at this energy level. Anything else seems to be in slow motion.Most entrepreneurs have two common attributes:ADD/ADHDA high BS level (always well-intentioned of course.) This could also be known as eternal optimism or eternal positivity
Bracing for Sequestration - IF It Happens At All
n my meeting today with my customers at Defense Logistics Agency, one of the Directors asked me, "Marissa, how is Information Experts preparing for sequestration?" The question caught me off guard, but fortunately, I've attended so many events to learn about sequestration strategies that I was quick on my feet to answer.Here are the five strategies we've implemented to prepare for budget cuts:
The New World of Learning & Workforce Implications
Last month, I attended the quarterly Chief Learning Officers (CLO) breakfast led by CLO Media (www.clomedia.com). The panel and discussion centered around the changes occurring in the workforce, and the convergence of education, skills, and work. As someone who has a Master's Degree in Instructional Systems Design/Curriculum Development, and as CEO of a company (www.informationexperts.com) that provides education and training solutions to the market, I've always been interested in how social changes impact educational trends in the workforce.Much of my information is from one of the best resources I have encountered on this topic: The Apollo Research Institute (www.apolloresearchinstitute.org).
Where Has Marissa Been?
Information Experts (www.informationexperts.com) has gone through A LOT of changes these last few months. These changes have been QUITE an educational journey for me. Honestly, there were times when I wanted to write a column, and I was paralyzed. The words just wouldn't flow. I felt as if I had nothing valuable to share because my own leadership circumstances were so perplexing to me. I lost my footing, and questioned whether I had any right to share my insights and lessons.Now that I have emerged in a better place, I look forward to sharing my experiences with you as I continue to process how they have shaped my company, and shaped me as a person, mentor, and leader.On a positive note, these past two months have provided me with many opportunities to help others through my speaking.
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!