by ·Comments Off on “Fooling Yourself” – You’ve Still Got It, Get Back On Your Feet!

There are many reasons that may make you feel like throwing in the towel. Sometimes the market may not be where you want it to be. Other times your product or service may not be where you had intended, so you get anxious or a little unsure. The first thing to understand is that ups and downs are part of the cycle for any business. You have to constantly evolve in order to adjust to changes in the market or its conditions.

There may be instances where a trough in the cycle causes you to wonder if it’s worth it to keep going, or to cut your losses. Things people said before – the words we knew were not true when we were confident – come back into our thoughts, trying to feed the seeds of doubt. This is the time when you have to dig deep. Pushing through problematic times is often a prerequisite for success.

You’re kidding yourself if you don’t believe it

Get up, get back on your feet

You’re the one they can’t beat and you know it

Come on, let’s see what you’ve got

Just take your best shot and don’t blow it

— Styx, “Fooling Yourself”

Sometimes it’s a mental obstacle blocking your path to success. Ask yourself a few questions. Why do you feel like giving up? What were you trying to accomplish in the first place? How did you feel about getting to that place? If you felt you could get to that place, why is it different now?

Sometimes, visualizing where you want to be gives you the extra boost when you are experiencing a sluggish period. Visualize where you can be, see it as it is already yours, and keep pushing until it comes into fruition.

Once you have done some soul-searching, answered the questions above, and visualized where you want to be, do a top-to-bottom evaluation of your company – evaluating your people, processes, and technology in use. Do you have the right people in the right places? Are you utilizing your personnel at optimal capacity? Are you keeping up-to-date with the trends in your area of business? Are your processes running fluid, with fail-safes, backups, and secure networks?

After a careful analysis, you will have a better outlook at where the value lies in your company. There are times when a business started off in one area only to find their niche in an altogether different arena.

“Expect problems and eat them for breakfast.”  Alfred A. Montapert

You are going to face obstacles in business – that’s its nature. When you get up with the attitude of looking forward to facing the challenges, it changes the progression of your day. Instead of when a problem occurs it throwing your mood off-kilter, the expectation of it keeps the flow of your day from interruption and your mood from leaning towards agitation. There are days when one problem after the next will appear, and rather than seeing it as an annoyance, view it as a challenge to master.

“The only constant in life is change.”  Heraclitus

Berkshire Hathaway, one of Warren Buffett’s many companies, started in the textile industry. Mr. Buffett had the privilege of acquiring it on the way down. Throughout the years, with careful planning and strategic moves, he was able to turn it into one of the largest and most trusted companies in the world. His saving grace was investing in the insurance industry and transitioning the core of the business away from the flailing American textile industry — a masterful pivot. Determination, ingenuity, and preparation in business go a long way towards gaining success.

My moment came during the recession of 2008. My wife and I have two businesses working out of the same office, and we had more space than needed, which was making cash flow very tight. We were also slow in downsizing staff, which put us in a hole even further! When the recession hit, nobody knew how long that it would last, and it seemed it would never end. My wife and I had to have the “are we going to have to consult a lawyer about bankruptcy because we don’t know how long the recession is going to last” talk.

Instead of folding, we decided to remain persistent. We didn’t break our lease like many people were doing at the time, taking the high road and honoring our commitments. That cost us dearly, but we decided to keep pushing forward. I remember my wife and I sending out our Christmas letter that read, “What’s worse than having one entrepreneur in the family when going through a recession?” “Having TWO entrepreneurs in the family going through a recession!” Have to keep a sense of humor.

It was a rough battle, and yet here we are seven years later and doing well. The course of events even resulted in me pivoting my business into providing new services – helping small to medium-sized business owners and it is the most rewarding work I’ve ever done! When one door closes…another one opens!

Before You Throw in the Towel

Before you call it quits, make sure you’ve viewed all options and alternatives. Maybe you give up what you are doing today and pivot your business. Examine your business top to bottom, check your people, processes, and technology. Find that new strategy, and wake up each day ready to hurdle every obstacle in your path. Keep pushing! Chances are that you’ll find yourself in an even better place than you had expected.

Brian’s Musical Inspiration:

RIFF:  “Fooling Yourself (The Angry Young Man) was a second radio hit off of Styx’s seventh album, “The Grand Illusion”.  Released on July 7, 1977 (7/7/77), it became their breakthrough album, reaching TRIPLE PLATINUM certification (3 Million sold). The first hit off of this album was “Come Sail Away” which reached #8 in 1978.

BAND ON WIKI: https://en.wikipedia.org/wiki/Styx_%28band%29

WEBSITE: http://styxworld.com/

VIDEO: http://www.bing.com/videos/search?q=Styx+Fooling+Yourself

 

by ·Comments Off on “Hold On Loosely” – Four Ways to Let Your Team GROW!

With all of the CEOs I’ve worked with, one of the biggest challenges they face is themselves. In other words, they get in their own way and micromanage their teams. It’s a hard habit to break since they are used to handling so many responsibilities when they first started the company. But as their company grows, they have to start giving up more responsibilities to their employees. Micromanaging your team sends the wrong message and creates a toxic atmosphere. If you want your company to grow, you must create an atmosphere conducive to growth.

Build the right team

The first step is to hire the right people, then groom, and develop them. When you’re confident in your team, you feel comfortable stepping back. Stepping back allows you to spend more time providing strategy, vision, and passion for the organization. What you SHOULD be doing!

The CEO is the visionary, and shouldn’t focus on the daily operational miniscule tasks. I know, easier said than done – and I’ve been guilty of it myself over the years. It all comes down to building the right team, and believing they can do the job.

Loosen your grip

The rock band .38 Special has a song entitled “Hold on Loosely,” which talks about a girl, who’s affectionately known as “baby.” As the song relates to business, think of the “baby” as your company and employees that drive it. I know for a fact that CEOs of small- to medium-sized companies think of their company as their “baby.”

Just hold on loosely but don’t let go

If you cling too tightly

You’re gonna lose control

Your baby needs someone to believe in

And a whole lot of space to breathe in

It’s so damn easy

When your feelings are such

To overprotect her

To love her too much

 — .38 Special, “Hold On Loosely”

CEOs need to hold on of course, but “loosely.” You can still have control, but delegate most of the work. Have meetings, checkpoints, or dashboards to keep you aware of what’s going on with your “baby.”

Allow your team to flourish

If you cling too tightly, you are going to lose control because you are telling your people you don’t believe in them. What’s more, they can’t breathe because you are stifling their creativity. Your company simply can’t grow if you don’t give your employees space to learn and grow.

Just as an expert jockey knows when to loosen the reigns a bit to let the horse run hard and be a winner, your team needs to know they can run and do great things for your company too.

Keep your A-players happy

The biggest detriment from micromanaging is that you’ll lose your A-players, and be stuck with B and C-players. You don’t want that to happen. Every successful company is filled with A-players…spend the bulk of your time with THEM, train your B-players too, and work those C-players OUT!

At one of my previous jobs, I had a micromanaging boss. I once wrote an assignment for him, and he recommended changes. I incorporated the changes, and resubmitted. He then changed HIS changes back to my original submission. “Why am I wasting my time?” I thought. I was so miserable and frustrated with his leadership style, that I couldn’t take it anymore and eventually left the company.

Just remember this:  OVER protecting your company — your baby — will only stop it from growing, much like “helicopter parents” stifle their children’s growth. Starting TODAY, “Hold on Loosely”, but don’t let go. With the right grip, watch your people and your “baby” grow beyond your wildest dreams!

Brian’s Musical Inspiration:

RIFF: Don Barnes of .38 Special came up with the title. It was something he heard Dinah Shore say on her talk show when she had a guest on talking about giving her husband space in their relationship.  Speaking about the range of influences that show up in this song, co-writer Jim Peterik said: “The bridge was straight out of the Doobie Brothers songbook. If I look at that song, it’s kind of a meld of a lot of influences of mine from that time. The eighth notes are very Cars-like from that time and the bridge was “What a Fool Believes” upside down.

BAND ON WIKI: https://en.wikipedia.org/wiki/38_Special_%28band%29

WEBSITE: http://38special.com/

VIDEO: https://www.youtube.com/watch?v=PdLIerfXuZ4