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.
Time Management Strategies for the Holiday Season (12.16.12 WBR TV Segment Follow-Up)
My December small business segment on ABC’s Washington Business Report focused on general, personal, and professional time management strategies. I have many more strategies than I could cover; I’ve included all of them here.
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/ADHD
A high BS level (always well-intentioned of course.) This could also be known as eternal optimism or eternal positivity
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).
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 Interdependent
Experience – 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.
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.
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
