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.
Running a GovCon Business in Today's Economic Climate - 7 Drivers & 6 Trends to Know
The Deltek Summer Party attracted close to 1,000 people in the government contracting space this week. Sandwiched between two great networking opportunities was a two-hour overview of the government contracting landscape, and a non-sugarcoated assessment of what companies have to do if they are to survive the current environment.Robert Lohfeld, President of Lohfeld Consulting and a capture management expert, gave his assessment of 7 market drivers, and how businesses should manage them to stay competitive. Jim McCarthy, Owner of AOC Key Solutions which supports $3.4 billion per year in client wins, and also a capture management expert, outlined 6 key trends that business owners must accommodate to keep moving forward.
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.
Appreciating Our Freedom & Our Heroes: Happy 4th To All
Living in the DC region and leading an organization that supports our government and our war-fighters, I sometimes think we have an enhanced awareness to the profound impacts that our heroic veterans have made on our lives, and to the sacrifices so many have endured.The freedom that all of us have has not been "free." Our freedom to vote, to earn a living, to speak freely, to pursue happiness, to practice our chosen religion - these and many other liberties have come at too high of a price for so many heroes.As CEO of an organization that serves many military branches, the intelligence sector, and other agencies that indirectly support our war-fighters, I truly feel it is an honor to serve our federal government and agencies/branches that send our armed forces into battle.
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.