February 5, 2016
February 3, 2016
Think you could use a coach? Well, if you think about the fact that there are no medal winners without coaches, and if you want to be a winner in the game of business, then you almost certainly want one. But not just any one, you probably want the best you can get.
Harvard Business review did a survey/study of executive coaches and found some pretty interesting responses. Check out the article here.
The Harvard study focused mainly on big business and hiring coaches for their higher level executive development. I work with CEOs of young, growing businesses. Big difference in fees, and big difference in speed of results. I charge a lot less because I just don't need the money to eat and pay bills and pay for advertising (I don't advertise). And I get faster results because I don't like to waste time and drag things out to pad the bill. I like quick action.
I really like the graphic, don't you? I've had it on my desktop for a while, waiting for me to get around to writing a post where it would be appropriate. So here it is.
Wishing you all the very best of success in this New Year.
February 2, 2016
Read point number 3 in the Quora post below:
Read Keinosuke Johan Miyanaga / 宮永 ヨハン 計之介's answer to As first time entrepreneurs, what part of the process are people often completely blind to? on Quora
January 7, 2016
From First Round, two links that could totally change your business for the better. Only one problem: you actually have to execute. Don't just read this stuff, but figure out how you can implement these ideas into the fabric of your business.
The 30 best pieces of advice for entrepreneurs in 2015
This 90-Day Plan Turns Engineers into Remarkable Managers
December 7, 2015
November 22, 2015
When you screw up (it happens), admit it, apologize briefly, and then announce your Action Plan moving forward. It's that simple.
Most people make it much worse for themselves when they screw up.
They grovel (so embarrassing).
They offer credits and refunds (undisguised bribery).
Here's what Bloomberg.com has to say about it:
To investors, too much contrition is a sign of weakness.
Publicists are quick to tell clients what to do when the corporate nightmare of a misbehaving executive or a faulty product erupts: apologize, with feeling. The consultant who coached ice cream maker Blue Bell Creameries on a mea culpa after a deadly listeria outbreak in April has chief executive officers read their talking points three times—once aloud, once to himself, and again aloud—to make sure they sound authentic. “The key is to feel the message points, not just recite them,” says Blue Bell adviser Gene Grabowski, a former PR News Crisis Manager of the Year.
Stock market investors have their own feeling about contrition, according to new research: lose it. Two business professors who analyzed more than 100 corporate apologies over three decades through 2012 found that those demonstrating the most emotion also experienced the steepest declines in share price over the following week. “The more empathy the company shows, the more they promise follow-through, the more they get slammed by the market,” says DePaul University ethicist Daryl Koehn of her research with Maria Goranova, who teaches management at the University of Wisconsin at Milwaukee.
The two put together a database spanning Johnson & Johnson’s 1982 recall of poisoned Tylenol tablets to BP CEO Tony Hayward’s infamous “I’d like my life back” crack weeks after the 2010 Gulf oil spill. The professors ranked apologies on a sliding scale of completeness. They figured the perfect apology would acknowledge responsibility, identify the harm, show a wise character, be delivered in person and on time, display empathy for victims, and promise follow-through.
No apology in their database rated as perfect, and only three got the next-best score. One came from Intuit, whose CEO, Brad Smith, wrote customers in 2010 to “deeply apologize for the pain” it caused them after an outage affecting such popular software as Quicken and TurboTax. The company’s stock fell 4 percent over the next week.
When Yahoo! CEO Scott Thompson apologized for discrepancies in his résumé in 2012, his statement took responsibility for the distraction he’d caused, not the errors, and promised to “keep moving forward.” The professors scored his apology a zero. The stock rose for several days afterward, though Thompson eventually resigned.
What the researchers had hoped to prove was that investors valued the most ethically sound apologies. Instead, the strongest finding was the negative reaction to empathy. By contrast, CEOs who identified the problem and took responsibility for it, without any empathy, got a small stock increase.
One reason empathy may disturb investors is that it’s often considered a feminine trait or a sign of weakness, the researchers speculated. All the apologizers they studied were men. A 2007 report on CEO appointments found that corporate stock prices fell more steeply when the new leader was a woman.
Another possible interpretation, according to Koehn: “If you’re showing all that pathos, empathy, and emotional connection with your audience, the stock market might say, ‘They’re actually going to do something.’ And that’s going to cost money.”
Whatever the market risks, in an era when anyone with a mobile phone can publicize wrongdoing around the world, there’s little alternative to apologizing, says Richard Levick, a Washington-based publicist who’s advised Wall Street banks and the Catholic Church. And, as he likes to tell clients, saying you’re sorry is cheap. Levick cites a 2009 University of Nottingham School of Economics study that found an apology to disgruntled customers was more effective than cash. Only 23 percent agreed to withdraw a complaint in exchange for nominal cash compensation, while 45 percent did so after an apology. “Before we’re shareholders, before we’re consumers, we are human beings,” he says.
The Texas ice cream maker Blue Bell isn’t publicly traded, so there’s no way to judge investor reaction to the recall apology earlier this year. More important, adviser Grabowski says, is that consumers stuck with the brand. When it reappeared in stores this summer, customers lined up to buy it. That response may help prove another point, Koehn says: “The market may be out of step with the ethical expectations of the population at large.”
The bottom line: While sincere apologies can bring down stock prices, customers prefer a prompt “I’m sorry” to cash compensation
November 4, 2015
(from Andreesen Horowitz, a16z.com)
October 16, 2015
October 15, 2015
August 23, 2015
- Define Quantifiable Goals
The first step in setting business goals is determining exactly what you want to accomplish. Make sure your goal is worth your effort. Think about how you would design goals if you were certain that they would be successful. Conversely, what would your strategy be if this was your last opportunity? It’s important to set clear goals; you should know exactly where you want to go and you should not waiver from your target regardless of failures along the way. Be as specific as possible, so you are able to determine when you’ve reached your goal.
- Make your Goals Specific
Once again, make sure your business goals aren’t too vague. It’s critical to use a goal setting formula that gives your goal a built-in action plan. Define your end goal and create a road map for exactly how you’re going to reach your goal. Be specific with what you want to accomplish at each check point. You'll achieve a great deal more than you would without these guidelines.
- Commit to your Goals
Make a commitment and stick with it. Once you’ve set your plan in motion, stay motivated to see your goals through to the end. Don’t procrastinate or second-guess your decisions, as this will only delay the process. Don’t forget to enjoy the process and reward yourself for staying focused.
- Make your Goals Public
An extremely effective technique for achieving business goals is making them public. Invite a team or even a single person into your plan; you’ll face accountability which can be very motivating. Once you share your goals with someone, you can determine what sort of involvement they will have with your plan. Will you ask them to check in with you every so often or not? What their role entails is up to you.
- Set a Deadline
If you don’t set a deadline, your goal will fail. Goals without deadlines indicate that you are not fully committed. Determining a deadline puts your goal into context. Pick a reasonable date that isn’t too aggressive, but also not too far away.
- Reward Yourself
In the goal-setting process, there’s one very important thing to remember: you. Once you’ve accomplished a goal or reached a milestone within your goal, make sure to mark the occasion. You’ve invested an incredible amount of time, energy and determination to reach your goal, so make sure you take a moment to celebrate your success.
Source: Notre Dame online
August 13, 2015
August 1, 2015
July 15, 2015
Click here for the video: http://www.academybridge.org/videogallery/lean-startup-pivot/
A pivot is a change in strategy without a change in vision.
10 Pivot Options
Zoom-In: A single feature in a product (service) becomes the whole product, thus highlighting the value of “focus” and “minimum viable product” (MVP), which can be delivered quickly and efficiently.
Zoom-Out: What was considered the whole product becomes a single feature of a much larger product.
Customer Segment: The product is positioned for a more appreciative segment, and optimized for that segment.
Customer Need: When the problem solved is not very important, repositioning (or a new product) is required to find a problem worth solving.
Platform: Iterating from an application to a platform (or vice versa) because most customers buy solutions, not platforms.
Architecture: Focusing on one of two business architectures: high margin-low volume (complex systems), or low margin-high volume (volume operations). You can’t do both at the same time.
Value Capture: The “free” model doesn’t capture much value, therefore many startups require a monetization model (revenue model) to capture value. This choise can have far-reaching consequences for the business, product, or marketing strategy.
Engine of Growth: Startups must select one of three growth engines: viral, sticky, or paid growth. Selecting the right model can dramatically affect the speed and profitability of growth.
Channel: Channel pivots require unique pricing, features, and competitive positioning adjustments.This impacts how a startup effectively delivers it product to customers (sales channel or distribution channel).
Technology: The technology pivot can provide superior price and/or performance and improve the startup competitive posture (same solution provided but with a completely different technology.
“The only way to win is to learn faster than anyone else.” - Eric Ries
Watch Eric Ries (The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses) describe the different pivot options:
Lean Startup 10 Pivot Choices
July 13, 2015
Good friend and awesome sales trainer Mike Bosworth explores the art of the traditional salesperson, and extracts techniques from top closers to find the connection between storytelling and earning trust.
July 11, 2015
June 25, 2015
1. It is necessary for me to be extremely frugal for some time, till I have paid what I owe.
2. To endeavor to speak truth in every instance; to give nobody expectations that are not likely to be answered, but aim at sincerity in every word and action – the most amicable excellence in a rational being.
3. To apply myself industriously to whatever business I take in hand, and not divert my mind from my business by any foolish project of growing suddenly rich; for industry and patience are the surest means of plenty.
4. I resolve to speak ill of no man whatever, not even in a matter of truth; but rather by some means excuse the faults I hear charged upon others, and upon proper occasions speak all the good I know of every body.
June 20, 2015
Recent Harvard Business School study of 200 pitch decks:
Here's a TechCrunch story on the above, with lots of comments:
Pitch deck guidelines:
May 30, 2015
May 23, 2015
May 20, 2015
What are the differences in what people DO
that will indicate if they are going to be successful?
Check the infographic below,
and then think about what You Do.
Time to change some of your Actions?