Prepare for a Happy Business New Year

There are only a few weeks left that will define how your business performed this year. Are you happy with the anticipated results?  If the answer is yes, are you prepared to deliver the same performance next year or go to the next level?  If the answer is no, are you prepared to deal with the obstacles and challenges that prevented you from achieving your goals?

There may be little time to change the results of 2012. There is plenty of time to prepare for changes in 2013, if you start now.  Pivoting from your current trajectory requires strong leadership and preparing a detailed plan to execute starting the first day of the new year.

Reviewing the past several months, is your business foundation strong enough to build the next phase of your expansion?  Your foundation needs to be durable, providing the necessary support to accelerate current business practices that will generate more revenues and improve overall performance.  A business that is built from repeatable practices for product development, sales, operations, marketing and service, is a business that is ready for sustainable growth.

In your evaluation of the past year, you are not convinced your business is running at current capacity or operating efficiently, it is well advised to spend the final weeks of the year to identify the primary obstacles and demands your business require to get on track for better performance in the coming year.  It is time to invest in your business to get it on track for growth.  Do you need to invest in people, products or infrastructure?  What will it require in time and finances to build a strong foundation for future growth?

One of the biggest challenges for small business owners is to look outside the day-to-day operations to see the threats and opportunities for growth.  If you do not have an advisor, seek help from peers who can give you an objective assessment.  You want to have a comprehensive plan with orientation toward your business goals and tactics that can be executed upon by your committed team members at the start of the year.  Your plan needs to be opportunistic and realistic.

Now is the time to plan for the coming year.  How much do you need to invest?  Will you need to pivot from plans that have not provided expected results in the prior months?  Your team is waiting for your defined plan.  They want to know where they are headed so they can meet your expectations.  Take the steps necessary to get ready for the best possible outcomes in the coming new year.  The action you take today, will impact where end up next year.

“If you don’t know where you are going, you’ll end up someplace else.” ― Yogi Berra

By Jamie Glass, contributing editor at Project Eve, focused on startups, marketing, sales and leadership.  CMO & President of Artful Thinkers and Managing Director of Sales & Marketing Practice at CKS Advisors.

Virtues of a Trusted Advisor

The role of a trusted advisor is honorable.  A business leader believes you can help them achieve their goals, overcome their challenges and drive new opportunities.  Your advice is so valuable to the business, they choose to invest valuable resources, including time and money, for your guidance, products and services. They trust you can make a difference.

In the position of power, an advisor must demonstrate characteristics of greatness.  An advisor must garner the trust needed to challenge, collaborate and guide leaders in personal and professional ways.  The considerable distinction of being a trusted advisor must be representative of virtues that such power bestows.

Benjamin Franklin, one of the Founders of the United States, listed his 13 virtues in a notebook. He referenced the virtues to measure how he lived each day. The virtues included temperance, silence, order, justice and humility.  He developed the list of virtues when he was 20 years old and used it in some form, according to his autobiography, for the rest of his long life.

Though there are hundreds of virtuous characteristics, there are a few common virtues practiced by many high quality trusted advisors.  What would you include on your list of virtues to guide you in the expected role of a trusted advisor?  Here are ten virtues that top my list:

Ten Trusted Advisor Virtues

1. Diligent – Be a good steward. Spend other’s resources with care and great due diligence to maximize a positive impact. Value other’s money as if it is your own.
2. Integrity – Be honest and ethical in your role as a confidant.
3. Silence – Listen to learn.  Advising others requires you to listen and learn before you conclude and guide.
4. Courage – Challenge ideas, policies, programs and standards with candor, evidence and experience.  You need not be right, you need to state your beliefs with conviction.  It is your role.
5. Credible – Prove you are worthy of trust.  Believe in your ideas and recommendations. Convey your belief with proof.
6. Share – Take part in the business.  Be a partner. Contribute by sharing ideas and making valuable connections.
7. Reliable – Be present in real time.  Demonstrate your loyalty by being available to help when help is needed.  Be on time. Deliver on time.
8. Logical - Solve problems with logic.  Business decisions can be emotional.  Provide the logical pros and cons to help others make sound decisions.
9. Wisdom - Use your knowledge and judgement to be resourceful.  Experience has value.  Speak and advise on what you know and when you don’t know, find other resources that do know.
10. Respect - Respect those you advise and respect your position of power.  The quality of your work will be demonstrated by your ability to deliver, real and actionable advice. Earn respect by doing.

Virtues are often referred to as ethics.  Virtues are your moral compass, how you conduct yourself. As a trusted advisor, you have the responsibility to demonstrate the value of your advice. Trust is earned. It is not to be taken for granted. Your word, your actions, your work, your products, your services, all must represent the values you profess.

If you are so bold to declare your personal and professional virtues, take the time to measure the impact of your chosen words.  Do your virtues help you to better help those paying for your guidance?  Deliver what you say you will deliver. Be virtuous and then you will be trusted. A Trusted Advisor.

“So our virtues lie in the interpretation of the time.” – Shakespeare

By Jamie Glass, CMO & President of Artful Thinkers and Managing Director of Sales & Marketing Practice at CKS Advisors.

Entrepreneurial Lessons from Your First Job

We have all had one. A first job. Someone looked you in the eye and said, “You are hired!” The decision confirms they trusted you to represent their business. They were willing to invest in you, train you, teach you how to earn a paycheck.

Your confidence swells with the first yes. Your stride is more brisk, your smile broadens. You did it! You are accepted, wanted and needed. Someone recognizes you for being a contributor. Then, the apprehension begins. What if they don’t like me? What happens if I make a mistake? Can I do this job? The overwhelming reality of being responsible of earning a wage is measured by the sudden onset of nervous excitement.

Many of the emotions and fears of starting your first job are similar to starting your first business. Entrepreneurs have to balance the adrenaline associated with being in complete control with the reality that businesses fail. Lingering in the bravado are facts from the Small Business Administration (SBA) that nearly a third of businesses fail within the first two years. Reverting to your confidence that says “just do it” because you are different and better, you focus on the statistical favor that you do have a 66% chance you will make it.

The first time you do anything is valuable experience. Recalling what you learned at your first job is an excellent way to apply past experience to a new first – starting your own business. Here are some tips to take from your first job that are nuggets of wisdom to apply to your startup venture:

1.  Embrace the Fear of Failing - You have an option to be paralyzed in fear or embrace the opportunity that if you try, you may succeed.  We all know examples of the person who tried over and over again, failing countless times before they finally made it!  They never quit. Using the knowledge of each failure, big or small, prepare yourself for the possibility of next time.

2.  Take Pride in Your Work - Others are counting on you to help them.  Any business is defined by satisfying a need.  If they need you, take satisfaction in your ability to help.  In the early stage of a new business, people will flock to those that are confident in what they deliver.  Uncertainty creates worrisome customers, or even worse, potential customers who never buy.

3.  Always Be Learning - You are glowing green at your first job.  You are a blank slate.  Your training is the groundwork for how you will perform. Soaking up expertise from those that proceeded you is smart business.  What you don’t know today, can propel your business to the next level. Find expertise.  Be a knowledge consumer.

4.  Businesses Reward Hard Work - As you master the skills necessary to do your first job and do it well, you soon learn that businesses reward performance.  Promotions and raises are given to those that work hard and do more than their peers.  Your customers will reward you for your hard work.  Their loyalty is associated to your ability to outperform your competition.

5.  Listening Skills are Important - Listening to your customers in your first job and in your first business is elementary.  Your customer is paramount to delivering products and services that meet the customer’s needs.  Failing to listen increases your odds of an unhappy customer.  Unhappy customers tell others of their experience.  Listening improves potential for high customer satisfaction.

6.  Time Management is Critical - There are no rewards for showing up late or missing work.  One of the most important skills acquired in the first job is how to manage your time.  You soon learn there are no acceptable excuses.  Juggling priorities becomes primary to your success.  Owning a business depends on the genius of multitasking.  You will work harder and that means you have to work smarter to get the job done.

7.  Handling Money Builds Trust - When you take money for any product or service, you are now accepting the currency of trust.  You are expected to provide equal or greater value in the exchange of cash for goods.  Exceeding expectations builds credibility.  Manage others money with the same respect you demand from those that manage yours.

The knowledge acquired from a first job is fundamental to a startup. How you apply that knowledge and skill will often result in similar or better experience as an entrepreneur. The mistakes are lessons of how to do something different. The successes are foundations to build upon.

Challenge yourself to reflect on your first job. What was the best lesson learned on your first job? Can you instill this in your values, culture and standards as a business owner today?

Nothing is a waste of time if you use the experience wisely. ~Auguste Rodin

By Jamie Glass, CMO & President of Artful Thinkers and Managing Director of Sales & Marketing Practice at CKS Advisors.

Vision Statements are Worthless without Disciplined Focus

Entrepreneurs can spend countless hours crafting their vision and mission statements. It is often assigned to every leader as a required task in strategic planning. Business investors and advisors will ask you, what is your vision? Imagine answering, “I don’t know!”

Do you have a vision? A mission? Business values? Often guilt rises in those that have not defined their vision when questioned by those that “know”. Thus the ritual begins. The business owner starts to define the grand vision: What do I want to be? What is our ideal universe? What is our big hairy audacious goal (BHAG) as a company? What motivates us?

Tah-Dah! The task is complete. Yes, you have a company vision. Check the box. Your purpose for existence as a business, which is now articulated in a small paragraph, makes it’s debut on websites, in business plans and sales presentations and supported in company marketing communications. What is the value of this exercise? Can you translate it to revenue? There are businesses that have you memorize the vision. Vision testing. They are driven by the belief that if everyone is united by a common vision, they will achieve more.

Granted, there is no argument that you need a strategy to win. If your vision consists of words to satisfy the strategic planning process, your vision is worthless. A vision must be supported by disciplined focus to accomplish your business goals. It is what differentiates the good from great. Why? It is the ability to look beyond the visionary clouds and execute on your strategy. Disciplined focus delivers results.

Vision is unlimited. Vision gives you big picture, inspiration and motivation. Focus influences your capability to execute on what is most important. Real power to deliver on a vision comes when you narrow your focus, allowing you to concentrate and build confidence. Disciplined focus enables you to positively face challenges and create sustainability in your business. It is the foundation for growth. “My success, part of it certainly, is that I have focused in on a few things.” — Bill Gates

Have you ever watched a 3 year-old in a grocery store walking along side their adult companion. They seem to lack much interest in the whole shopping experience. Suddenly, they set their sights on what is intentionally positioned at their eye-level to grab their attention. They make their escape with remarkable strength. Bolting in a straight beeline, with determination, to the prize! They have disciplined focus on the outcome. They grab and go! Vision. Focus. Results.

If you have a vision or are thinking you need to craft a vision statement, take a few minutes to define the expected outcomes from your declaration. How does the vision help you focus on what is most important for your business? How do you use your vision as motivation? How will the vision help employees be better in their roles? How will the vision drive the business forward? Once you know the desired results, you can apply the disciplined focus to execute your strategy and accomplish your business goals.

“A clear vision, backed by definite plans, gives you a tremendous feeling of confidence and personal power.” — Brian Tracy

By Jamie Glass, contributing editor at Project Eve, focused on startups, marketing, sales and leadership.  CMO & President of Artful Thinkers and Managing Director of Sales & Marketing Practice at CKS Advisors.

Entrepreneurial Spirit or Stress

High energy and optimism drive entrepreneurs to overcome the daily challenges of starting and running a business. It is drawn from the spirit of achievement. A belief in winning. The achiever reflects on the vision supplanted in the back of their mind that reminds them they can do it. Entrepreneurial spirit motivates. Unfortunately, entrepreneurial stress can be harmful. 

Often times I see business owners who fight gallantly and passionately to get their businesses off the ground. Overcoming every obstacle with stamina and vigor. Then the really hard work begins, as if the launch wasn’t difficult enough. Selling. Operating. Scaling. Funding. HR, PR and avoiding the ER. 

Days begin at 5AM and end around midnight. Sleep is sacrificed in place of getting more done. Family and friends watch on the sidelines as the entrepreneur climbs to the top. They are the cheerleaders, sounding boards and allies. They see the competitiveness to win, so they encourage you more. You’ve got spirit! You can do it, yes you can! 

Our colleagues and advisors rarely say stop or slow down. Why? They don’t want to crush the dream. They want to keep the spirit alive. Businesses are built with emotions of positive thinking, ambition and heart thumping enthusiasm. They are also built with blood, sweat and tears. We chant faster, better, more. We ignore slower, take a breath, and reminders to enjoy the journey. We convince ourselves we work better under pressure and stress. 

As we are conditioned more than ever to reach for the stars, who is telling you to chill out? It seems counter intuitive to being an entrepreneur. Is it? Can you get more accomplished when you are relaxed and well rested? There are countless studies that prove stress is bad for your health. It increases heart disease, inflammation, chances of having a stroke, weight gain, and even increases odds of catching a cold. Relaxation studies show we can counterbalance many of the health risks. Yet, out of fear of failing, the entrepreneur presses on and tries to do more. 

I am reminded of a wise mentor who once said, do you want your epitaph to read “I Worked the Hardest”. Know anyone that has health issues from living stress-free or being well rested and relaxed? Know anyone with health issues from living in the hyper stress mode, working 18 hour days, not sleeping, and sacrificing all “me” time? 

Take this advice from a self-subscribed workaholic, it may be time to relax! Here are are few ideas on how to get back to the spirit and reduce the entrepreneurial stress. 

1. Remind yourself of the WHY. Why are you building a business? Why are you working so hard? Why are you driving yourself and probably your family crazy? Write down your why and review it daily. If it is for your retirement, for your security, for your family or for your employees, they will all tell you they would rather have a bit more of the relaxed you than a bit more stress. 

2. Turn off the electronics. We are more wired and connected today. Checking emails first thing in the morning can create stress before you even get started. Smartphones, laptops, computers, TVs, off! Set a schedule for when you will be connected and give yourself the freedom to be off the grid. 

3. Say hello! Reach out to past colleagues and mentors. Get together in real time, face to face. Perhaps they are in the same predicament of being overloaded and overworked and are looking for someone to help give them a reprieve. 

4. Read any good books lately? No one can argue that reading is good for the mind and soul. Take 20 minutes a day to refresh your mind. Give yourself time to escape, explore and grow. 

5. Prioritize. Do you have a list of priorities? Take your list and categorize the A list, all which have to be done by a committed deadline. Next is your B list, those items that are important but are less urgent. Finally, your C list that captures those tasks that would be nice when completed; however, do not endanger your well-being or put the business at risk. 

6. Escape. If your business can not survive without you for a weekend, a week or even two, you do not have a sustainable business. How would an investor perceive your business if it can not operate without you. In other words, the business is you. Do not believe you are helping your customers, your investors or employees by being the one that makes it all run. It is bad for business and bad for you. No one can sustain the pressure of being the sole enterprise. Delegate and escape. Force the business to run without you. 

If you get to the end of the road and the sign blazes with bright lights that you made it, congratulations. You did it. Now, look back and ask was it worth it? Did you enjoy the journey? If you are still on that journey, stop and breathe. Relish in the spirit of being an entrepreneur. Enjoy the growth in your business and your personal experience. Don’t miss out on life to get to the end. 

There is no recovery from lost time or relationships. Make sure it is really the entrepreneurial spirit that is motivating you, not the stress controlling you. Live Long. Be Happy. And Prosper.

About me:  I have been helping business owners and CEOs grow, market and expand for more than two decades.  My corporate experience comes from sitting at the table as a senior executive in public and private companies.  I am a ravenous information consumer.  I am passionate about selling, marketing, digital media, technology, social engagement, investing, leadership, growth, women in business, networking and entrepreneurship.  I started as a communications person out of college and now I use this art to ignite conversations on topics that relate to my passions.  My goal is to help others do better and do more.  I am a managing director at an investment banking firm and own my own sales and marketing consulting practice.  Carpe Diem! jamie@artfulthinkers.com @jglass8

Manage Your Influencers for Optimal Results

Key influencers play a critical role in every business. Decision makers are guarded and guided by inside and outside advisors and gatekeepers. How you manage your trusted advisors can help or harm your business.

Influencers know they have the power to change or compel action. It is the business leaders responsibility to validate and control the effect of influencers. Those who sit closest to authority and are granted permission to persuade, have a direct impact on your success. Do you know who is currently sitting at your table of influence?

In order to responsibly manage your influencers, take time to identify those that are in your inner circle and those effecting your judgement. Inside your business look at department heads, executives and even top revenue generators whose opinions impact your future.  Who are your squeaky wheels? Are they helping you make better decisions for your business or slowing down how you operate?  Influencers can be carriers of good and bad advice, they may be motivated by selfishness. It is up to you to vet, challenge and manage your influencers for optimal results.

One way of evaluating an influencer is to ask them what they believe are your highest priorities. Are they up-to-date on your current business plans and growth strategies?  Do they know the profile of your most profitable customers?  If not, it is the perfect opportunity to align your thinking. Define and clarify what is most important to you and your business.  Let them know how they can help you.

To get the best results from your influencers, provide regular updates on business goals, initiatives, challenges and opportunities.  Acting as gatekeepers, key influencers can open doors to new ideas, solution providers and even make introductions to customers. They also have the ability to close doors.  As the final decision maker, you are ultimately responsible for those that make it through the “gate”.  Challenge those that have the authority inside your business to say no.  Know who they turned away and why.

Update your outside advisors quarterly about key initiatives and strategic objectives. These influencers, such as accountants, legal counsel, wealth managers, business consultants and top vendors are connected and often sources for essential referrals. They act as a conduit for information and potential services that can help you achieve your goals.  If your influencers know your interests, they can better serve you.

Know that influencers get things done. They effect change. They make things happen. You need to know who they are and leverage them for maximum impact to your business. Lead influencers to your expected outcomes. Manage them for the best results.

Jamie Glass, Outsourced CMO and President of Artful Thinkers, a strategic sales and marketing consulting company and Sales & Marketing Services Managing Director at CKS Advisors.