Have you done your research? Have you made your business plan? Have you written down your goals? Are you putting your business in a position to succeed?
Have YOU failed enough to be successful? Yes.....have you failed enough to be successful? You should spend as much time evaluating your failures as you have spent researching, goals, and etc.. This is huge. We can learn from our past. I have used iconic people as examples in previous blogs to demonstrate the learning opportunities of those experiences, but our past should be used as well.
How many small businesses are there in the United States. Plenty! According to the latest Federal data, there are 24,653,098 small businesses in the United States. According to a study by the U.S. Small Business Association, only 2/3 of all small business startups survive the first two years and less than half make it to four years. With numbers like that, it's no wonder so many entrepreneurs think twice before taking the plunge.
OK hold the press......our country was founded on small businesses. I would like to see the stat on how many businesses are owned by someone that failed at a previous start up business.
If you start your business with the attitude that it's probably going to fail, guess what - it will. The businesses that succeed are the ones that were founded on an attitude of success.
BUT it takes more than attitude! Because if it was solely up to attitude there would be a lot of wealthy business owners. If something is worth having it is worth fighting for. It requires nothing less than hard work to make whatever sacrifices are necessary to succeed. Sacrifice yes, but NOT sacrificing values and family. If it means being unethical or pushing your family to the end of the bench then it is not worth fighting for.
I want share his name because I have not discussed it with him but my first business was in 7th grade with a great friend. We started selling blow pops between classes. We had a plan, a product, and demand was booming. All was great until our target audience figured out they could buy them cheaper before school at the store.
We failed to have a plan B that would withstand changes in our market. Mark it up my first failed attempt as a business owner.
I knew then, that one day I would be a successful business owner. Through out I have had many failed attempts, but the great thing I decided to do was to add some education and hard work to my attitude.
Things I have learned over those failed attempts have been to plan well, plan for the risk, enjoy every minute, work hard, and don't let one failure kill your ability to move forward. Negative times are the hardest to navigate but when you pass the storm the faster you can move in clear water.
I can't sum up how hard this is to swallow, how hard it is to think about failure, or the impact it can have on your life. I recommend reading the Rich Dad book series and John Maxwell's Failing Forward. They are great!
Tuesday, January 18, 2011
Sunday, January 16, 2011
Martin Luther King Jr.- A Real Leader
Monday is Martin Luther King Day in the United States. For many this is a day off from work, but on this day WE celebrate the life and work of one of the greatest leaders the world has ever known. Please take a few minutes and reflect on a leader that helped shape a world of freedom.
MLK was a leader that expressed qualities that we are all looking for. MLK addressed conflict straight on, engaged more than the mind....he engaged the heart, he would not settle, moved with a sence of urgent passion, motivated others to act vs. reacting, and painted a vision that was obtainable. Take some time to reflect on the past and how we as leaders can embrace learning opportunities.
Here are some quotes from MLK speech:
"In a sense we have come to our nation’s capital to cash a check. When the architects of our republic wrote the magnificent words of the Constitution and the Declaration of Independence, they were signing a promissory note to which every American was to fall heir. This note was a promise that all men, yes, black men as well as white men, would be guaranteed the unalienable rights of life, liberty, and the pursuit of happiness".
March 20, 1775 Patrick Henry closed with this quote, "Give me Liberty, or Give me Death". A little less than 200 years later MLK continued to fight for all men to have life, liberty, and pursuit of happiness.
"But we refuse to believe that the bank of justice is bankrupt. We refuse to believe that there are insufficient funds in the great vaults of opportunity of this nation. And so we have come to cash this check, a check that will give us upon demand the riches of freedom and the security of justice.”
"I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin but by the content of their character. I have a dream today!"
"I have a dream that one day, down in Alabama, with its vicious racists, with its governor having his lips dripping with the words of interposition and nullification; one day right down in Alabama little black boys and black girls will be able to join hands with little white boys and white girls as sisters and brothers. I have a dream today!"
"I have a dream that one day every valley shall be exalted, and every hill and mountain shall be made low, the rough places will be made plain, and the crooked places will be made straight, and the glory of the Lord shall be revealed and all flesh shall see it together.”
Leaders, I have said so many times the past carries a wealth of knowledge that we MUST rely on as a critical resource for moving forward. Our leaders of this great country fought for and taught valuable lessons so that we could move beyond these obstacles.
MLK believed in his work, his work had a greater purpose, he went for the goal, and planted a Vision! MLK defined Leadership.
MLK, "We are not makers of history. We are made by history."
MLK was a leader that expressed qualities that we are all looking for. MLK addressed conflict straight on, engaged more than the mind....he engaged the heart, he would not settle, moved with a sence of urgent passion, motivated others to act vs. reacting, and painted a vision that was obtainable. Take some time to reflect on the past and how we as leaders can embrace learning opportunities.
Here are some quotes from MLK speech:
"In a sense we have come to our nation’s capital to cash a check. When the architects of our republic wrote the magnificent words of the Constitution and the Declaration of Independence, they were signing a promissory note to which every American was to fall heir. This note was a promise that all men, yes, black men as well as white men, would be guaranteed the unalienable rights of life, liberty, and the pursuit of happiness".
March 20, 1775 Patrick Henry closed with this quote, "Give me Liberty, or Give me Death". A little less than 200 years later MLK continued to fight for all men to have life, liberty, and pursuit of happiness.
"But we refuse to believe that the bank of justice is bankrupt. We refuse to believe that there are insufficient funds in the great vaults of opportunity of this nation. And so we have come to cash this check, a check that will give us upon demand the riches of freedom and the security of justice.”
"I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin but by the content of their character. I have a dream today!"
"I have a dream that one day, down in Alabama, with its vicious racists, with its governor having his lips dripping with the words of interposition and nullification; one day right down in Alabama little black boys and black girls will be able to join hands with little white boys and white girls as sisters and brothers. I have a dream today!"
"I have a dream that one day every valley shall be exalted, and every hill and mountain shall be made low, the rough places will be made plain, and the crooked places will be made straight, and the glory of the Lord shall be revealed and all flesh shall see it together.”
Leaders, I have said so many times the past carries a wealth of knowledge that we MUST rely on as a critical resource for moving forward. Our leaders of this great country fought for and taught valuable lessons so that we could move beyond these obstacles.
MLK believed in his work, his work had a greater purpose, he went for the goal, and planted a Vision! MLK defined Leadership.
MLK, "We are not makers of history. We are made by history."
Tuesday, January 11, 2011
Don't Build Walls
“Don’t Build Walls, but Lift a Lamp to light the way”
Who thought in this period of bottom line, heavy bulk buying, and Wal-mart mentality that our economy would be at this point? I didn’t for sure. If you look at the surface, most would think the American economy has been on a great ride. The stock market has made people millions of dollars and the American dream has been soaring high.
Do you know the lady checking you out at Wal-mart? Do you have the same lady checking you out each time you make a purchase at Wal-mart? How about the grocery store? Do you have the same people checking you out at the local gas station? In most cases, the answer will be NO. Between multi-shifts of people, self check out, or pay at the pump the thought of a relationship with your local vendor is crazy talk.
Why would you want to know the people you are paying? I remember not too long ago I had one guy I bought lumber from when we were selling houses. If there was a problem, a delay, or we were in a bind I could call him. In today’s world relationships are gone, the job goes to the lowest bidder, and hopefully he sends an invoice so I know who to write the check to. That is where we are today.
I have said before we have to reevaluate not reinvent. This mentality we have grown a custom to has created walls between businesses and customers. I would think this would be a reason so many would buy online. If you are not going to be customer oriented and work to build a relationship, why involve a breathing human.
Since I am in the Financial Industry full time I have to say Community Banks in this arena are ahead of the game. They understand the need of a warm body, someone the customer can speak with, and the ability to actually meet face to face. They also understand the fact that a relationship is more than saying hello. Business owners should take notes here. If you are going to offer multiply services or products do they have synergy? Do they go hand and hand? If you can tie services and products together you have a better chance of pleasing your customer. If you have multiply services or products going to one client it is much harder for that client to be persuaded by competitor.
S. Truett Cathy, Founder of Chick-fil-A once said, “People are more important than profits”. I would agree. A Relationship will last a long time, while a pay at the pump is an instant win. The instant win is a quick fix and dwindling niche. I am not saying that in the next 12 months the pay at the pump option will be obsolete, but I am saying the relationship will last longer than the machine. If we look at history the idea of relationships will ultimately play a larger impact in life, business, and our success than the instant win. If you are looking to improve your business take a look and determine what walls have been built in your company. Look inside at your employees’ relationships first and work your way out.
Who thought in this period of bottom line, heavy bulk buying, and Wal-mart mentality that our economy would be at this point? I didn’t for sure. If you look at the surface, most would think the American economy has been on a great ride. The stock market has made people millions of dollars and the American dream has been soaring high.
Do you know the lady checking you out at Wal-mart? Do you have the same lady checking you out each time you make a purchase at Wal-mart? How about the grocery store? Do you have the same people checking you out at the local gas station? In most cases, the answer will be NO. Between multi-shifts of people, self check out, or pay at the pump the thought of a relationship with your local vendor is crazy talk.
Why would you want to know the people you are paying? I remember not too long ago I had one guy I bought lumber from when we were selling houses. If there was a problem, a delay, or we were in a bind I could call him. In today’s world relationships are gone, the job goes to the lowest bidder, and hopefully he sends an invoice so I know who to write the check to. That is where we are today.
I have said before we have to reevaluate not reinvent. This mentality we have grown a custom to has created walls between businesses and customers. I would think this would be a reason so many would buy online. If you are not going to be customer oriented and work to build a relationship, why involve a breathing human.
Since I am in the Financial Industry full time I have to say Community Banks in this arena are ahead of the game. They understand the need of a warm body, someone the customer can speak with, and the ability to actually meet face to face. They also understand the fact that a relationship is more than saying hello. Business owners should take notes here. If you are going to offer multiply services or products do they have synergy? Do they go hand and hand? If you can tie services and products together you have a better chance of pleasing your customer. If you have multiply services or products going to one client it is much harder for that client to be persuaded by competitor.
S. Truett Cathy, Founder of Chick-fil-A once said, “People are more important than profits”. I would agree. A Relationship will last a long time, while a pay at the pump is an instant win. The instant win is a quick fix and dwindling niche. I am not saying that in the next 12 months the pay at the pump option will be obsolete, but I am saying the relationship will last longer than the machine. If we look at history the idea of relationships will ultimately play a larger impact in life, business, and our success than the instant win. If you are looking to improve your business take a look and determine what walls have been built in your company. Look inside at your employees’ relationships first and work your way out.
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