Yesterday I had a chance to meet Ken Blanchard and to hear him speak to a group of Boston Entrepreneurs. There was obviously a lot of great information and I took some notes knowing that something he said would end up here.
Ken is a very "grandfatherly" figure - 68 years old, successful business owner, successful family man, accomplished author of many books to cite just a few of the things he has done that almost anyone would be proud of; in spite of this near the end of his discourse he said something that surprised me! He spoke about his mentor - someone he talks with every week and has done for years to keep him focused. Someone that he feels is not emotionally involved in the issues he faces and can help him keep a clear head. Wow! He then mentioned that studies show that all successful business people are "open to mentor ship"- what an interesting concept, are you open to mentor ship? Are you successful? Could you be more successful?
Historically speaking I had to agree with Ken. Many of the greatest leaders in history were open to mentor ship - conversely some of the worst leaders were not.
Aristotle served as a mentor to Alexander the Great - certainly that should provide evidence of the truth of Kens' statement. Alexander was young but was able to make mature decisions. So if you have a young business who do you rely on as a mentor? How do you find an appropriate mentor? Go find your Aristotle!
Tuesday, April 29, 2008
Thursday, April 24, 2008
Benefacto Nominus Idiocritus
I had a chance to fill in this morning at a so called "leads group" and it started me thinking about Julius Caesar. Why you might ask?
Well I have often wrote about the differences between true leaders and the rest. Julius was a leader - and like all leaders he not only tolerated change neither did he enjoy change but rather he initiated and caused change. The Roman Empire was strong, it had been the same size for a while, who needs to expand? Why put forth the effort? Because Julius was not content with maintaining something good; he wanted to expand and grow into something great!
So at this leads group there were about 80 business owners who exchanged "leads" and "referrals" at the end of their meeting - I counted about 20! Now excuse me in advance for going on a rant, but 80 business people work for a week and can only collectively come up with 20 referrals - asinine! Then they ask about business generated from the group on an annual basis and I ask the fellow next to me how much business he has received from the group - $7500.00 is the answer . How much Profit? $1500.00 is the answer. Minus the dues and membership fees leaves about $800.00!
So let me get this right - 2 hours a week x 52 weeks is about 104 hours or two average work weeks devoted to this group to make how much? $400.00 per week!!!! Wouldn't your time be more productive somewhere else and isn't your time worth more than that? Bottom line is that these folks would be better off looking to their Church, their Gyms or some Volunteer work as a source of "leads" than to spend it here. I was advised to not mention the group specifically so I am going to follow that advice - but here are a couple of alternative names I came up with for this group and maybe you can work it out:
1. Better Not Invest
2. Below Normal Intelligence
3. Block New Ideas
4. Boring Never Inspires
5. Ban Nothing Idiotic
6. Believe in Nominal Income
7. Be No Innovator
8. Barrage of Nutty Individuals
9. Brag but No Invoice
10. Benefits Never Improve
Well I have often wrote about the differences between true leaders and the rest. Julius was a leader - and like all leaders he not only tolerated change neither did he enjoy change but rather he initiated and caused change. The Roman Empire was strong, it had been the same size for a while, who needs to expand? Why put forth the effort? Because Julius was not content with maintaining something good; he wanted to expand and grow into something great!
So at this leads group there were about 80 business owners who exchanged "leads" and "referrals" at the end of their meeting - I counted about 20! Now excuse me in advance for going on a rant, but 80 business people work for a week and can only collectively come up with 20 referrals - asinine! Then they ask about business generated from the group on an annual basis and I ask the fellow next to me how much business he has received from the group - $7500.00 is the answer . How much Profit? $1500.00 is the answer. Minus the dues and membership fees leaves about $800.00!
So let me get this right - 2 hours a week x 52 weeks is about 104 hours or two average work weeks devoted to this group to make how much? $400.00 per week!!!! Wouldn't your time be more productive somewhere else and isn't your time worth more than that? Bottom line is that these folks would be better off looking to their Church, their Gyms or some Volunteer work as a source of "leads" than to spend it here. I was advised to not mention the group specifically so I am going to follow that advice - but here are a couple of alternative names I came up with for this group and maybe you can work it out:
1. Better Not Invest
2. Below Normal Intelligence
3. Block New Ideas
4. Boring Never Inspires
5. Ban Nothing Idiotic
6. Believe in Nominal Income
7. Be No Innovator
8. Barrage of Nutty Individuals
9. Brag but No Invoice
10. Benefits Never Improve
Monday, April 21, 2008
Just don't sit there - invent something!
I had an opportunity to speak with someone about their business today and I was amazed that this CEO was not able to answer a few basic questions about their business objectives. Last week I met with an entrepreneur that I helped by just asking a few simple questions....why then, to whom, how, what if and so on.
It has been said that necessity is the mother of invention and if that is true then apparently having a clear understanding of where and why your business even exists is not always a necessity. Really all business plans are like inventions - a premise followed by a theory and then a prototype followed by etc, etc. Then they either work or fail! How does a business begin or continue without answers to simple questions.
Inventors are not always right - look at Edison, so many mistakes along the way. But Inventors are curious and they are always asking themselves Why???? If your business is failing do you know why? If it is thriving do you know why? If you don't know what it is doing do you know why? If you don't care about any of this- do you know why?
It has been said that necessity is the mother of invention and if that is true then apparently having a clear understanding of where and why your business even exists is not always a necessity. Really all business plans are like inventions - a premise followed by a theory and then a prototype followed by etc, etc. Then they either work or fail! How does a business begin or continue without answers to simple questions.
Inventors are not always right - look at Edison, so many mistakes along the way. But Inventors are curious and they are always asking themselves Why???? If your business is failing do you know why? If it is thriving do you know why? If you don't know what it is doing do you know why? If you don't care about any of this- do you know why?
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