the sales archaeologist

2009-02-25T11:18:00.000-05:00

Please Visit me at the new location

http://www.omghub.com/sales-archaeologist-blog/tabid/85464/Default.aspx

Thanks

Change has Come.

2009-01-21T06:47:00.002-05:00

The latest issue of Selling Power arrived yesterday and there was an interesting article that offered some predictions for 2009 and how a business would need to adapt in this economy. It started with an interesting story about a CEO that cut his staff by 20% back in October "before things got too bad" - interestingly his competitors used these layoffs as a marketing tool and put fear into the CEO's current clients as well as future clients -would they be taken care of? Are they going out of business? Surely the quality will of the service will be affected? The Result - their numbers went in the toilet because they were losing current customers and the new deals were not closing - with them! If you are thinking the same way as that CEO please reconsider.
Here are the interesting predictions mentioned in the article:

1)Your customers future will continue to be uncertain.
2)Decision makers will have less time than ever to listen to you.
3)Your customers will be overwhelmed with data and have difficulty recognizing fact or fiction.
4)Your customers will have trouble seeing past the end of the current quarter.
5)Your customers will need your help more than ever before.

So are you adapting the approach of your sales group to compensate for these changes? Are the people you have even capable of changing? History is full of Paradigm shifts that left some floundering and others prospering - we are all aware of the dramatic changes going on around us, we have all felt them happening but are we change ready? Have you already changed what you are doing?

Lessons from a Biotech Presentation.

2009-01-11T08:16:00.003-05:00

I had a chance to hear Robert Coughlin speak Friday afternoon regarding the advances in the Massachusetts Bio Technology sector and its impact on the State. Robert is the CEO of the Mass Biotechnology Council. I must be honest and admit that I initially thought any discussion on Bio Tech was going to be pretty boring and dry - but it wasn't and I want to talk about why.
First of all as I read Roberts Bio my hopes improved, it was clear that rather than having a super technical background he had risen through the sales ranks and I believe that made a big difference for me and the other 500 people in the room. Could utilizing what he did help you?

1. He gave us a compelling reason as to the big picture. Good sales people start with a positioning statement that addresses the big picture and gets the emotions involved. Bob did this by mentioning his experiences having a sick child and desiring a cure (a very strong emotional argument) and by reminding us of the States former mistakes in allowing some of huge companies of the past to all move out west (very big picture) Now he had my undivided attention.
2. Bob spoke in the vernacular. I was expecting the talk to contain big words and terminologies that my very unscientific Brain couldn't handle - but not once did he go there. He spoke in terms that all 500 could understand.
3.He spoke with Passion and Personal Commitment - it was very clear that this was close to his heart and he let that show. People as a rule are attracted to that type of realism and can relate to it.
So Thanks Bob - I learned a lot, I want to Join the MBC and see if we can help other companies package their story in the way you were able to - like a true sales professional.
Historically speaking - great leaders have always been able to use these same methods to relate to their people and get their acceptance and buy-in. Conversely the hacks have not. Just compare Abe Lincoln, Winston Churchill, Alexander the Great and Henry the 5th to Dick Cheney, Jefferson Davis, Marie Antoinette and Czar Nicholas.

War and Technology

2009-01-07T07:24:00.002-05:00

I was watching a documentary on World War 1 the other day and it was discussing the advances in technology and the impact those advances had on the war itself. One of those advances was the machine gun - it was introduced early in the war and even with this new opponent soldiers were still ordered to perform the same maneuvers as prior to its use. The results - millions of young men died almost needlessly.
Another invention was the tank - it was designed to overcome the problems the machine gun was causing, and it would have, however the generals and leaders of the day didn't like this new concept and didn't understand it fully so it sat in a warehouse somewhere unused until the very end of the war.
Lesson - Business is a war. Are your people still using outdated methods, ineffective methods or are they finding ways to utilize technology to their benefit. As the leader of a company are you taking advantage of new systems and tools that might help your people perform? are your competitors gunning your people down on the field without so much as a chance of success?

How Biographical is your Business?

2008-12-31T07:42:00.003-05:00

I had a chance this weekend to visit the Assyrian exhibit at the Boston Museum of fine arts. The antiquities on display were from the British Museum and it was pretty fascinating to see how advanced these almost forgotten people were. They were really ahead of their time so to speak. They had proven themselves to be a formidable military power that was pretty much unstoppable - what happened?
Well , like Winston Churchill had said - "good history is biographical" and that was true with Assyria as well. As long as the King was strong the nation was strong. Sure, the empire could weather the occasional bad ruler but when there were a few in a row things fell apart - and the competing nations took note of the weakness. In other words a nation is merely a reflection of the Ruler.
What about the leadership during this time of economic strain? Are you able to keep your company ahead of the curve? are you able to maintain focus? Are you able to fight off the more aggressive competitors? Do your people trust you and look to you for the right guidance?
So often, like running an empire, Business is Biographical.

Winning Against the Odds

2008-12-24T06:54:00.002-05:00

A.D 60 and the Romans had suffered several humiliating defeats at the hands of a woman. Boudicca was queen of the Icini and she was now pursuing the last remaining obstacle to her returning the rule of Brittania back to her people - Seutonius stood in her way with two legions, a little more than 10,000 men facing as many as 100,000 Icini warriors.
Seutonius was moving quickly because he was trying to find some ground to fight on that favored his army - and he did. When Boudicca and her army arrived they certainly could have moved on and fought somewhere else but by now they were so emotionally involved and in a frenzy that didn't happen. Needless to say and long story short the Romans won.
The question for business leaders is this - are your sales people fighting the competitive situations they face on their own ground? Or are they fighting on the prospects terms or even worse on the competitors turf? Are they disciplined and trained enough to stand their ground in the most trying of situations and come of victorious?
Good questions and you might want to start by rating your sales force -here

Breaking Down the Doors

2008-12-03T07:24:00.002-05:00

Most business people would feel that people "breaking down the doors" in order to do business with you would be a good thing. Maybe that expression is not so popular after the events of this past weekend where two workers were killed by a charge of greedy consumers hoping to save $50 at their local Wal Mart - yes I called them greedy!
I personally hate Wal Mart - not because of the big corporate bully bad guy image it has acquired but if I am being totally honest everytime I have had the displeasure of entering one of their stores I simply hate being with the people - the people that work there and the people that shop there. I don't have the type of buy-cycle that forces me to shop at a place where price is everything and the others do - I am sort of a fish out of water the minute I walk in.
That is why I would never be among the throngs of Idiots that head out the day after Thanksgiving at 4:00am in order to secure a minor savings. I certainly would like to think that no decent sales person would be among that group either. Most rational people who understand their value and time would not wake up at an ungodly hour and spend extra time in a crowded store to save maybe $100 - it actually would amount to a net loss!
So now they are talking about law suits - who should be sued? Well obviously they are going to all proceed against Wal Mart. My alternative - collect the names of every person that was there that morning by looking at every transaction in the first 2 - 3 hours and prosecute them all! After all they were the greedy people responsible for this tragedy. It was their feet that trampled the workers.

The Best Manager I Ever Knew

2008-11-19T08:34:00.004-05:00

Sometimes the people that are promoted to positions where managing a group is the focus are not always the right fit - especially a group of sales people.Notoriously the most difficult group, segment or department of any organization to manage. Dave Kurlan talks about the tendency to promote your best sales person to the position of management - what a disaster that can be! I have seen it time and time again , superstar sales people often end up being too spontaneous and reactionary - I once saw a female "superstar sales manager" start throwing items across the room at her sales reps in anger - needless to say she didn't last.
I conversely was not the greatest sales person - She consistently finished top 3 in the country and I was a top 25 finisher ( still out of 2000 sales people nationwide not bad) but in retrospect and being quite honest I am probably the best sales manager I have ever known.( not that there are not any better managers - I just haven't met one) I blew the doors off when it came to getting a team of 8 reps to perform at the top of their game and all of a sudden our place in the national standings reversed.
Why - the role of a manager has more in common with a Director of a Play or Performance than many might imagine - get the most out each person, help them to perform better and better, consistently acknowledge their greatness, keep them enthusiastic about being there and loving their job, keep the head in the show and treat them like a fellow "artist". Of course there is still an obligation on their part to know their lines, show up for the rehearsals and listen to your coaching. My counterpart modeled her management style after Joseph Stalin and people responded accordingly - no self respect, no pride, no confidence, no motivation and by the way no numbers, no new business and spending their valuable prospecting time looking for another position.
When William Shakespeare founded the Globe theater in London he knew the value of having the right performers on the stage to bring his characters to life. Often he would tirelessly search for the right tonality or physical build so that nothing hindered his performance. You hear things like that about Directors today - Oliver Stone, Martin Scorsese and Ron Howard - "they just brought the best out in me"

the Great Wide Open

2008-11-18T21:14:00.004-05:00

There has been a lot of talk about FDR lately - mainly having to do with the great depression and the similarities with the current economic meltdown. But i want to talk about Teddy Roosevelt, lover of the outdoors, big sky country and founder of most of the National Parks we enjoy today.
Interestingly there was no mandate to create national parks. There was no EPA nor were there groups protesting for the preservation of the national natural treasures - he just did it and he did it because it was the right thing to do and at the time it might have seemed silly, rash or pie in the sky.
I guess the point is that sometimes what is truly brilliant at the time seems silly or foolish. But when you think about Yosemite, Yellowstone or Acadia - who would say Teddy made a bad choice. With global warming and so many other serious environmental issues facing us - in retrospect Teddy really did take us into the great wide open! Will you take your business into big sky country?

Give them Something to Believe In.

2008-11-05T10:40:00.002-05:00

So it is the day after the election and pretty much everyone is happy that we are finally at the end - regardless of your political views everyone was just about over saturated with this race and the "closure" that the decision brings is somewhat of a relief.
I was listening to a report about the canvassing and tireless support that some of these advocates had given to their candidates - door to door work, holding signs, making calls, handing out information and pretty much selling their candidate. Interestingly many of these people were not sales people and I am sure they suffered from some of the hidden weaknesses we uncover in people and no doubt some of them suffer from these quite severely, and yet they were involved in sales activities, they sucked it up and overcame these fears. What a lesson for business leaders. Could you "Obama-Fy" your people by giving them something to believe, a big picture view of your company and a clear vision of the "how you help" factor.
Of course the best option is to have all the right people in the right seats, however it is also true that sometimes we don't and even the wrong people will serve your business better if you give them something to believe in.

When a Keynote hits the wrong note.

2008-10-24T06:47:00.003-04:00

I attended the central Mass business expo this week and subjected to their keynote speaker. I use the word subjected because I am trying to be polite - boring in delivery and more noteworthy - boring in content. This was an opportunity to provide these business people with something helpful, timely and applicable - it was also supposed to be information that would help their business to do well in a rough economy and unfortunately, it accomplished none of these.
Here are some of the gems I did happen to glean from the presentation.

turn down the heat and buy your people long sleeved sweatshirts to reduce costs through the winter.
LOCK the supply cabinet.
take a close look at your expenditures and go to your vendors and get them to lower your price.

So if you like those and think they would make a difference in your business surviving the recession then here are a few more you might benefit from.

CLOSE your doors - save a bundle.
QUIT - go work for someone else.
MOVE - change your name and find a new identity, start over.
Start collecting cans and bottles on the side of the road.
Get rid of your car, walk to work.
See if you can save money by "acquiring" your lunch in the dumpster behind McDonald's.

Sounds Ridiculous doesn't it? I thought it would.

Bigger = Slower?

2008-10-21T09:01:00.003-04:00

So here I am watching Tom Peters speak to a group of business people that are attending his presentation because they all desire to see their business grow. One problem according to Tom - that may not be the right thing to focus on and often big companies often equate to bad companies.
Think about yourself - maybe you have put on a few pounds, maybe you are a "little" out of shape and surely as you have grown older you have discovered more aches and pains? Your bigger - so to speak, but you are hardly faster or more energetic. Same proves true in business - with growth often a business finds themselves losing some of their nimble moves and stamina, not to mention flexibility.
So the point would seem to be - focus on the right things, the fundamentals and not the flashy things. In history all empires seem to have grown to a point where they suddenly cannot get out of their own way, they experience a social and financial collapse and then they implode - sounds a little scary doesn't it?

Write it Down!

2008-10-20T14:45:00.003-04:00

I was watching a show about Herodotus this weekend. Much of what we know about the ancient Greek world is seen through his lens. He was diligent about recording events and offering his interpretation of them - he wrote everything down. Not everything was spot on, not all of it was accurate, many criticized his viewpoint but still - he wrote it down.
Too often in business and especially sales there is not enough written down. Well of course there is no shortage of excel reports and forms but that is not really what I am talking about. If you are a CEO do you get sudden inspiration and ideas and then jot those down immediately, if you are a sales person do you document your success and your failures in a journal of some type.
When I think about putting all of your thoughts in writing I can't help but mention Rick Roberge. In his Blog he mentions everything that happens and willingly offers his perspective. I really enjoy watching events unfold through his lens and I know there are times when the mere process of documenting these situations helps him get his head around things.
The same is proven true for the belly to belly sales person as much as the high level CEO. Writing things down will help you get your head around things and provide a measurable way to improve your skills or your business!

Hey Diddle Diddle

2008-10-10T06:17:00.003-04:00

So here we are - weeks since my last post and the news and outlook for this economy is worse than ever. More big banks have floundered and fell, AIG is in trouble for spending $500k on a trip to reward their sales people (who didn't sell by the way???), the Dow is below 9000 and the behemoth of GM is poised on the edge of bankruptcy.
Apparently all of these troubles were brewing under the surface for a long time and nobody saw this coming - imagine that! Could there be "huge problems" hidden beneath the surface in your organization? Wouldn't it be nice to expose them earlier, before they turn into a really big and unfixable mess.
I would imagine that if I could go back in time to speak to the CEO's of AIG, Bear Sterns, Wachovia or Lehman Brothers they would say "all set", "no problems", "I have a great team of people who know what they are doing" etc, etc. Of course they would have been wrong but therein lies the curiosity. All too often so called business leaders don't lead and have ulterior motives. Finding "problems" that need fixed will mean work and change for them - yuk!
It is rumored that emperor Nero started the great fire of Rome and played his lyre while it burned. Don't know if that is true but it would make sense knowing what we know about Nero. The fire made room for a new Palace and gave him an opportunity to frame the Christians for the disaster (and then persecute them) as well as ridding the city of slums and many of the poor.
In our modern situation I think we all know that the "fire" could parallel this economic melt down - I haven't worked out who Nero is yet, but I am sure he is out there somewhere playing a fiddle.

Always Inspect Growth

2008-09-20T09:17:00.003-04:00

So it has been a rough week - economically speaking, for the U.S markets. Interesting that we saw the government respond with the bail out yet another company; AIG. I couldn't help thinking that although many customers of AIG are probably comforted by the bail out - would I want to do business or invest with a company that allowed itself to end up in this position? In fact would I want to do business with any of the companies that have required such massive help? What does their ending up there say about them?
A CEO that I know - when facing some financial hardships said, "we will just sell our way out of it" - what a concept, imagine if AIG, Bear Sterns, Fannie Mae, Freddie Mac and Lehman Brothers had that same philosophy, what would have been different?
Well first of all they would have been watching the sales numbers, the accuracy of forecast, inspecting what they expected and holding people accountable. If the numbers couldn't support the losses then they would have been driving, mentoring, motivating and coaching their people to counter act the problems - yes they would have "sold their way out of it".
Instead - we have what we saw this week. If in my years as a sales manager I had even for one month done as poorly as these CEO's did for months at a time I probably would have been asked to leave - or before that happened my own pride would have caused me to quit!

Wall Street Blues or Wall Street Bull?

2008-09-16T06:45:00.003-04:00

The news yesterday included some troubling facts about the economy - 3 formidable "giants" had been bought out, bankrupted or made people aware of some major struggles they were facing. The Dow and the NASDAQ reflected this by having one of the worst days in decades. As I watch the news this morning - the world is following suite with awful trading and horrible numbers. Do you think we are in a down economy?
When you look at financial "crashes" in the past it becomes clear that they are usually a result of investors putting too much faith in one segment. That was true in the late 20's when people jumped off buildings, it was true when the Irish economy crashed and the potato famine followed and it was true when these companies decided to jump on the real estate band wagon.
Any Lessons? Well I am not an economist but one thing I notice is how - to quote Mike Douglas in the movie Wall Street - there is "no skin in the game". Right up to the final hour everyone still receives their fat salaries and the investors and even the public are left holding the bag. In my line of work if I know my numbers are not where I want them I work harder and if I don't hit them I make less - why should that be any different on Wall Street. I don't get it.

Experience - How Important?

2008-09-12T06:30:00.002-04:00

There is so much talk about "experience" during these elections that I thought we should take a look back at the importance of experience. Abraham Lincoln was one of the most inexperienced Presidents that ever governed the United States - and he did so during one of the most tumultuous times in its history. Now, in retrospect, people think of him as one of the greatest leaders and his vision sits cast in stone at the Lincoln Memorial.
When the colonies were forming the United States King George and his cronies laughed about their ability to form and manage a country - why? No Experience in Governing. The constitution and Declaration of independence clearly reflect that "young and inexperienced spirit" in their language and tone. Experience is not listed as a qualification to be President.
So in light of the somewhat amateur political bent and history, why this obsession with experience. Because it makes people feel safe, comfortable and as though they know what to expect? All reasons that history has shown to be false to some degree.
The business world is no different - Executive Bios are full of "history" and "experience". When companies search for help they often limit themselves and tie their peoples hands by requiring "experience within our industry". This is especially critical when you look to hire sales people because often "sales ability" cannot be taught but the "industry lingo and processes" can be.
Instead of focusing on Experience- most companies would do well to look at Character, Natural Ability and Weaknesses as they make a hiring decision.
Experience is often a synonym for "baggage" and it comes at a heavy price financially. Imagine you are often paying more to get that - does that make you feel comfortable and safe?

Have Fun & Get it Done.

2008-08-19T06:16:00.003-04:00

Jamaica - a tiny country that usually conjours up images of dreadlocks, reggae, rum and beaches but certainly not Olympic Champions. However for the past few days we have seen the Jamaican men and women pretty much dominate the 100 meters to the 400 meters. One of the things that you can't help noticing is how relaxed and how much fun this particular group of athletes are having - all the others seem very focused both before and during the race - maybe a little too focused?
I am definitely not an athlete myself so this is nothing more than my opinion, however the Jamaican team appear to have mastered the fine line between having fun and getting it done. The commentator last night was talking about Mr. Bolt - who just broke the world record by a substantial margin - as not having good form, making many mistakes on his take off and not staying 100% in the race right through the finish line, then he added - Imagine if he had.
Well maybe if he had focused on those things he would have been as worried about those things as his competitors were and maybe then he would not have won as easily or at all.
Sometimes sales people get so focused on technique, organization, what to say and presenting that they cannot simply relax and enjoy the conversations they are having with their prospects, they get a little too focused. The best sales people are able to relax and be themselves letting all of their training and natural ability come to the fore in the heat of competition. They simply have fun and get it done!

Going for Gold - Execution

2008-08-13T06:18:00.006-04:00

Like so many others I have been up too late these days watching portions of the Olympics. There are of course certain events that are more interesting to me than others, but as a whole the entire competition is fascinating. There are a number of posts that will be coming out of these events so here is my first.

Last night was a night of contrasts - on one hand the US Swimmers totally dominated their events and were breaking new records in almost every contest. On the other hand, the US ladies Gymnastics team struggled with execution. It was pretty common to hear " they have done that hundreds of time in practice but...."

So I guess what is interesting is how the tension and stress of competition at this level can both bring out a surpassing of expectations and for lack of a better word - failure. History too is full of examples of those with grandiose plans and ideas that went nowhere or failed miserably when it came to execution - the Armada, the Titanic, the Hindenburg for example.

In the book "Execution" Larry Bossidy lists the question "can we execute this?" as a vital step for every strategic plan. Too often business leaders and sales people both fall victim to wishful thinking - I want this to work - nice but certainly not enough to capture the gold. When times get tough will your team get better under pressure or will they crack. Wouldn't it be nice to know the answer to that before you get to the Olympics?

Magna your Carta

2008-08-05T06:43:00.002-04:00

I am always amazed when I speak with someone and they start to talk about what they are doing and how instead of the why they are doing it and is it working? My questions are usually intended to uncover the latter - and I am pretty direct - yet many of the executives or entrepeneurs I speak with try to skirt around those answers and prefer to discuss the details that they are most comfortable with. These are usually centered around numbers or activity descriptions and not around the real reasons that some of their problems exist.
When King John 1st found himself being forced into signing the Magna Carta the situation was similar. He had what he believed to be an understanding of the problem and a clear solution that was the exact opposite of the problem. How many times have you found out only after executing a strategy that it was the wrong strategy?
Look at it this way - when you shy away from tough penetrating questions that someone else is asking, how will you respond when you are asking them to yourself? Answer - the questions will not be as tough and your answers will not be as honest!

Picking up Steam

2008-08-01T06:28:00.004-04:00

I really enjoyed hearing Scott Zimmerman speak earlier this week. He provided some really useful tips that involved getting an understanding of where our clients were coming from, how they processed information and made decisions that I know will be helpful to anyone, especially me, that attended.
All too often in sales and business in general we are trying to push things along and expecting the customer, the prospect and the market to respond as we would - in reality however not everyone is like us at all and this means that our pushing - regardless of how it manifests itself - will be like fingernails on a blackboard.
My friend Rick and I were discussing how we could both apply some of what Scott shared and there is no doubt that it will be difficult, but the idea of trying something new and watching it work or fail always excites the true entrepreneur.
when James Watts invented the steam engine it started with him making a cup of tea and watching the pressure exerted as the kettle boiled - a new way of doing things was born! If your business or sales needs some improvement - try changing something and start by looking at things differently to discover what to change. You never know how or what it will take to cause you to pick up steam.

A tale of Two Cities

2008-07-16T06:30:00.005-04:00

As I was watching the news yesterday I noticed someone being interviewed and realized I knew the person. It was Michael Coughlin - now the town manager in a town called Westport here in Massachusetts. I knew Mike many years ago when he was the town manager in Southbridge - another town in Massachusetts.
Mike was being interviewed because once again his progressive policies and leadership are helping both the town of Westport as well the people living there. It seems as if everyone there appreciates his work and what he has done for the town over the years.
When Mike was in Southbridge things were far different - he had created some huge changes and the town was looking better than ever, he had cleaned things up and the town was moving in the right direction. For myself he was a breath of fresh air and I even found myself thinking that this might be a town I could live in - but that didn't last. All the other town selectmen were determined to get Mike out - he was making too much (not true) he was turning the town into Wellesley (not possible) and he was not the right man for the job (not from the evidence) But they squawked and complained and grumbled and fought and bellyached until Mike had finally had enough and moved on to a town where his talents would be appreciated - and they were!
Pericles tried to bring change to Athens thousands of years ago and faced similar challenges. Although the Athenians realized the changes were for the better they resisted. Human nature I guess. In their case Pericles was successful and ushered in the golden age of Athens - not so for Southbridge.
I drove through Southbridge the other day (and I visit a lot of towns in the state) what a mess. The town just looks dirty and old, depressed and gloomy - hopeless. All the decent people I know have been trying to move away. I cant blame them. All of the "cool" and "trendy" places that were opening when Mike was there have closed and been replaced by more of the same. The schools are rated very low, the taxes are very high, the roads are bad etc etc. I feel bad that the leadership and people of Southbridge couldn't handle the change and were so jealous and resistant to it. I hope they feel some responsibility for the sorry state of things now but my guess is when they read this they will say "not true" or "things aren't bad" or "he doesn't know what he is talking about" -My response is this - but they are, your right things are probably worse than this and I most certainly do!

Make your own Map.

2008-07-15T06:28:00.003-04:00

I was speaking with a business owner last week and like many these days he was discouraged by the state of the economy. In the course of conversation he made a statement that baffled me " I just think gas prices need to come down so that my business can take off again" - Gas Prices? Now I admit that some business people have been harder hit by the increase in fuel than others but be assured that this gentleman's company is not in that category. Even if it were in that category the great business leader, rather than blame some intangible, finds a way to work around or even turns that into an advantage if possible.
When a President or CEO, Business Owner or Entrepreneur directs his company based on an idea that is not accurate, just a false premise or figment of his imagination where will he end up. If the road map is wrong how can anyone follow it successfully?
In the heydays of Exploration when the "new world" had been discovered - there were hundreds of maps floating around based quite often purely on someone else's imagination. Many explorers went off in search of these fictional locations, countries and riches only to perish. Others realized that they couldn't be trusted and decided to make their own maps that they could trust and felt safer relying on their instincts than on some unverifiable map. Francis Drake circled the globe successfully using this principle. Often as a business leader you are better off making your own map and relying on your instincts as well!

Eurika, I've found it.

2008-06-30T06:30:00.002-04:00

That is what Archimedes shouted upon discovering a new and exiting way to move water from one place to another. He had worked on this problem for some time and yet nothing had come together for him - then out of the blue, inspiration appeared.
There are some great modern examples of people that were inspired - Steve Jobs come to mind. He had an idea and then built a company around the idea and hired his people based on whether or not they accepted and adopted that idea as their own - that creates vision and ownership and not coincidentally one of the best managed, fasting growing, most profitable and innovative companies in the world not just the States.
But Inspiration is not the same as a thought - Vision is not the same as a plan. Unfortunately many business people, executives and entrepreneurs spend much of their time in the world of thought and planning rather than Inspiration and Vision. What is the difference?
Well Archimedes and Steve Jobs had a concept that was in their head, they walked around with it, slept with it, ate with it and talked it over with themselves. Eventually it clicked. From this point on is where most business people can take over - facilitating the concept. But, if there is no concept or clear vision your company will always be part of the pack and never really differentiated from the competition. Worse is the fact that if you are not creating the vision then who is ? Probably a competitor.

A Good Time to Expand the Empire

2008-06-26T06:34:00.003-04:00

Last night I attended another EO event where this time a panel of experts tried to help these entrepreneur's re-evaluate the best ways to handle this economy. It was a very interesting Q&A session and some of the experts did a stellar job at pointing these business people in the right direction.
Questions kept getting brought up regarding the "cutting of costs" - something I hear quite often and probably since it resonated I decided to ask a question of the experts - "is it better to cut costs or to grow revenues since they can accomplish the same thing, shouldn't entrepreneurs spend at least as much time thinking about ways to grow their business as they do thinking about ways to shave a few dollars off by cutting expenditures?"
as I expected the panel agreed with the question and proceeded to point out the benefits of growth over stagnation. Now is the time to attack the competition, improve your services, refine your vision, assess your people. re-negotiate leases, even borrow money and take advantage of the economic climate - its a great time to be in business.
The Roman Emperor Trajan is known in history as the man that expanded the Roman empire to become the biggest it had been at a time when others might have - and did decide to sit back and leave things as they were - why. Because even 2000 years ago expansion of an empire resulted in revenue increases that allowed him to resolve the same issues that would have caused others to not expand.
So what is your plan? Good business sense always includes a plan for growth that is not dependent on anything else that is happening in the economy - you are either growing or shrinking your respective portion of the pie regardless of how big the pie is.