What is the Real Value in Free

Free is zero, nada, zilch, nothing. In the mind of the consumer, free means whatever you give away for free has no cost to you. The same applies to your time. If you are giving away your time for free, how do others adjust to understanding your “real” value? Do they realize your true worth?

Most people are very leery of free offers. Based on experience, we are trained to look for the fine print, the exceptions and qualifications.  Our better judgement tells us that there is usually a “catch” to getting something for free.  A free day at the spa comes with the catch of attending a vacation rental sales pitch. A free juicer included with a top priced refrigerator comes with the catch of spending more on a product just to get a small appliance you may never use. A free soft drink when you buy the big meal comes with the catch you have to super-size your entire meal. If we are always suspect to the catch, how does that reflect on the perception of you giving away your time for free? Maybe there is a catch.

We are all very susceptible to the attraction of a free offer. Free works. We often all like to take advantage of free! Significant purchases are emotional. Free sparks our interest, it draws attraction to possibilities. Free also plays on the strong emotion of fear. The fear of losing out on the free.  Will someone else get our free?

What is not often measured is the “buyer” remorse of a free offer.  Why?  Well, you didn’t pay for your free, how can you be remorseful. You got what you paid for – zero, nada, nothing. You can’t return “nothing”. Your stuck with your free.  The cycle continues, giving and getting for free and then we are left wondering was it worth our time as the giver or receiver. It might be easier to leave the emotions behind and get to the real offer of people paying for your services. Paying for your valuable time without an emotional gimmick.

Free feels like it should have value. We perceive that whatever we get will be of greater value than what we have to give to get it.  It is very difficult in business as a service provider and solopreneur to not give away your time. We often justify this as a “marketing and sales” expense.  Unfortunately, the expense is not something you can list on your expense records as a tax deduction. You can not expense your hourly rate as a cost of sales. It’s lost time or to put in a more feel good term, an investment.

When you give away your time, what you do and who you are is represented as free.  It may appear to be a good idea. If you give your time away regularly others will soon see that your time has no value and what you perceive to be a great gift often goes unused or disregarded. Are you creating the perception that you are “free” for the taking?

The best advice for giving away time for free is to set a specific free time budget.  How many hours can your afford to give away each week?  Also, keep your “power of negotiation” at your central point of where you do business.  Meeting at coffee shops and for lunch may seem like a convenient way to give away your free services; however, you are no longer in a business setting, which demonstrates that your business is the priority.

We all desire to help others, pay it forward and do good. The best good you can do is to make sure that you get value for what you do. Free is a teaser, a sample. Maybe it is required to build a relationship and establish an opportunity for a transaction.  Then again, maybe if what you give away for free is so valuable people will actually pay you for it. Limiting your exposure and risk, means you have limited availability to always give away your time and services for free. Use your time wisely.

“If you were to offer a thirsty man all wisdom, you would not please him more than if you gave him a drink.” – Sophocles

Jamie Glass, President and CMO at Artful Thinkers @jglass8

What is Your Business IQ?

The question is not related to your personal or business intelligence, it is your business Innovation Quotient (IQ).  Your business IQ is connected to how you manage change and performance improvements in all facets of your organization, from operations to product. The origins of the word innovate go as far back as the 16th century.  It is simply introducing something new or different.

There are some companies that are perceived to “own” innovation and are frequently on lists of the most innovative companies. Expected and recognized mainstream mega brand companies like Apple, Google, Amazon, Nike, Target, Coca-Cola recently topped Fast Company’s 2013 Most Innovative list, along with newer innovators like Pinterest, Sodastream, Tesla, and Yelp . They all have visible innovations and a high “product” IQ.  We come to expect they are doing something new and different all the time.  What we do not see is how these businesses innovative internally. How they get on these lists takes more than smart, cool products. We don’t know how often they change employee policies, management teams, adopt new software programs or retire practices that no longer get results – unless you are Melissa Mayer of Yahoo!

What is your business IQ?  How often are you “innovating” the 4 P’s: product, people, processes and policies?  If you were to rate how innovative your company is today, on a scale of one to 100, with 100 being the most innovative, where do you rank?  If you are never changing, you probably have a low business IQ.  If you are always changing, your business IQ should be close to 100.  The most realistic place to be, without completely disrupting or killing your business, is to aim for above 50.

If you are an innovative trailblazer with a high IQ, congratulations and press on!  It is difficult to stay on the forefront and constantly introduce “new” into a business. Trailblazers make change and as a result, often make money. They innovate, pivot and innovate again. Maverick companies with high business IQ are in a continuous cycle of innovation and change.

If your business is lacking in the innovation department, it may be time to set new company standards.  If you asked everyone on your executive team to provide you a recommendation of an old idea or way of doing something that needs to be retired, without measure of cost or risk to the business, what do you think would be on the list?  Perhaps it is time to find out.  Innovation begins by identification.  Where there is opportunity in your business to innovative, there is opportunity to improve.

Old or young, businesses need to always be monitoring their business IQ.  Innovation takes place within companies as well as in products and services.  Being an innovative company requires a constant and systematic evaluation of how the company will stay competitive and continue to grow or maintain sustainable profits.  The lack of innovation is a one-way ticket to performance doldrums.

Not all innovation is good and there are certainly small and big failures to note.  One point is certain, if your business is low on IQ, it is probably not maximizing the potential of products, people, processes or policies.  Start by asking the questions first, what needs to go? What is holding your business back?  Identify where you can improve your business IQ and then go — innovate!

“If you want something new, you have to stop doing something old.” - Peter F. Drucker

Jamie Glass, President and CMO of Artful Thinkers @jglass8

Give Your Best Gift

There is one gift that you can give that is far better than any other, it is the gift of you.  Your time. Your ideas. Your wisdom. Your intellect. Your generosity. Your kindness. These are all unique gifts that only you can give to others.  "To give anything less than your best is to sacrifice the gift." ―Steve Prefontaine

We all know there is no greater reward in life than giving. Giving showcases our sense of civility and humanity married in the richness of culture and values. Giving is a choice.  We are collectively living in a world of complexity, tangled by individual adversity and challenges.  When we give ourself to solving problems, sharing responsiblity and accountability of the burdens, we have the opportunity to do better.  We must do better.  We can accept nothing less.. The gift of you, is an opportunity to do better. "The greatest gift is a portion of thyself." ― Ralph Waldo Emerson

You have to let a sense of self go when you give the gift of you. It takes your limited time that is often occupied by so many other important to dos. It requires you to prioritize values of what really matters. The gift of you demonstrates your willingness to put all other distractions and demands for your attention behind those that are are going to receive your most precious gift - you. “Behold I do not give lectures or a little charity, when I give I give myself.” ― Walt Whitman

There are no material possessions that are within the same measure of the gift of you.  You are priceless.  Giving the gift of you is wrapped in love and care. “It's not how much we give but how much love we put into giving.” ― Mother Theresa

The very best gift in business you can give is yourself.  Your time has the great value.  There are several ways that you can gift you.  You can gift your experience, gift your connections and gift your advice to help others achieve their goals.  All require you to take the time to be present in your offering and focused in crafting how to provide meaningful experience, connections and advice.  “We make a living by what we get. We make a life by what we give.” ― Winston Churchill

In order to fully actualize giving you, expect nothing in return. Giving you should be void of temptations to think of what's in it for me.  There is nothing to capitalize, nothing to measure.  The gift of you is simply a sacrifice that has exponential returns in knowing you did something selfless for another. “No one is useless in this world who lightens the burdens of another.” ― Charles Dickens

During this holiday season, the gift I give to all of you is sharing this blog. It is a little bit of me.  My ideas. My thoughts. My experience. My advice. I give this gift out of love and passion to help others. “Love only grows by sharing. You can only have more for yourself by giving it away to others.” ― Brian Tracy

Happy Holidays to You and Wishing You a Prosperous New Year!

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

Letting Go of Your Old School Business Ways

We are working in an agile, lean, bootstrapping world.  We are delivering big data globally, in nanoseconds.  We manage and run businesses 24/7 with on demand expectations from customers, employees and vendors.

Are you operating your business in modern times or like it is the 70′s, 80′s, 90′s or even the last decade? Your established ways of doing business may be holding you back. You may be out of touch with what can move your business forward now. It is time to let the “old school” business practices go and embrace progress.

Aged leadership techniques for running businesses that worked 20 and 30 years ago are great for television dramas, but not for motivating others to help you create a thriving organization.  Managing from top down with authority and control is counter productive to collaboration and innovation.  Dictatorial bosses are not respected today.  Confrontation and intimidation were once seen as ways to “control the population” of workers.  Today, it is misguided and creates resentment, all barriers to inspiring others to come together to solve problems and flourish in the workplace. Is your leadership style up-to-date?

Work environments that are open develop greater trust and equality in mission.  The millennial workforce is community driven, with a sense that you do well by doing good.  Parents and institutions work hard to instill the values of sharing. It is expected to carry over to the workplace.  Openness and freedom of expression are as important as basic rewards and even compensation.  Younger generations will work hard, but old carrot and stick approaches are less appealing than basic respect and the feelings they experience by doing good work.

Retro is cool for clothing and design. It doesn’t appeal to where people want to spend a good portion of their day. Are you keeping up with the times?  Are the visual clues in your office showing you are fresh with new ideas or stuck in generations past? Is your desk cluttered with paper files, stacks of business cards or even shelves loaded with management and leadership books that were promoted two decades ago?

Here are some clues that you may be stuck in your old school business ways.

Micro-management feels good.  No one wants to be controlled by the overlord.  If you are running the numbers every morning, watching arrival times and wondering how to squeeze out another ounce of productivity, it is time to refocus your energy. Today, results and outcomes move businesses ahead of their competition.  Align your team with organizational goals and expectations. Celebrate accomplishments.

Dress code policy is a regular meeting topic.  Ties and nylons are bygones as standard office attire. Loosen up! You want people to be comfortable when they are working hard.  Innovators want to collaborate with peers, not be addressed by the “suit” in the room. Do you represent yourself as an equal that inspires others or someone that dresses to impress?  If your employees are impressed, it is because you empower and motivate them.

You love your big executive suite.  Big offices represent old austerity days.  Everyone knows you earn the big bucks with your title. The expansive office gives the impression you are unreachable and untouchable.  It does not increase your cool factor. If you have spent a big budget on office decor, it shows your priority. How about an office ping pong table, an employee lounge or creative think tank room?  Big offices exclude you from working with your team.

If you have a time clock on the wall, you are truly old school.  There may be legal reasons you may need to track or “clock” hours; however, time clocks bolted on the wall give the impression you are still operating in the industrial world.  Computer software can be set up on any standing office computer or tablet and help you remove the visual of ancestral ways of tracking every second of work time.

Your technology budget for 2013 has a large line item for new desktop computers.  Laptops, tablets, smartphones are how productive people operate today.  Information available via online “secured” vaults and in the cloud storage provides convenience to vital documents and programs. Carry-on computing gives you freedom and accessibility to work from any where at any time.  Times are changing and desktops are definitely old school.

Are you still using out of office notes?  Throw the pink slips away. It’s not new, it is called voicemail. Use it. Return the calls left for you.  It reflects your follow-through and respect for others.  Better yet, encourage your team to find you via text and call you on your mobile device.  Make it easy to be in touch.

There may be financial, legal and security reasons that you can not leave all your old school ways of doing business behind.  Make sure that there really is a reason for holding on to the older ways you conduct business.  If the only reason you are using old school business techniques or tools is inability or lack of interest to change, you will be left behind. Your employees see it.  Your customers know it.  Your vendors and suppliers are pained by it.  It’s time to move into the new school of doing business.

Today is apps and accessibility, cooperation and alliances, nanoseconds and responsiveness.  Being a progressive in business creates more opportunities for growth, in people, profits and productivity.  Let the old go and go anew.  You might like the results.

Without continual growth and progress, such words as improvement, achievement, and success have no meaning. - Benjamin Franklin

By Jamie Glass, 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

Leaders are Superior Deciders

Business leaders and entrepreneurs are faced with endless decisions. The effect of every decision can impact the forward motion of the organization, address critical business needs or simply keep operations steadfast.  Decisions are part of the bosses daily to do list.  How decisions are made reflects your effectiveness and judgement.

As a leader, you have the role as crowning decider. Confidence in your ability to make decisions impacts how others recognize you inside and outside your organization. Employees, partners, customers, vendors, investors and your market industry all evaluate your strength as a leader based on your decision making skills.

Being resolute and determined assures others you are unmistakably in the right position to guide the company. Responsibility and accountability rest on your shoulders, always.  Whether you delegate the actual decision making process to someone in your business or not, you own the outcome.

How leaders make decisions sets the pace of how the business operates and often to what degree it succeeds.

• Fast Decision Makers:  High growth, innovative businesses require a leader adept to making rapid decisions, trusting intuition and using a high threshold for exposure to risk.  Failure is an option for this type of decision maker, as the decider is likely a pro at pivoting.

• Moderate Decision Makers: Leaders that use managed growth strategies require a steady hand. They are assessors and consumers of strategic evaluations and advice to help mitigate risk.  Roadmaps, KPIs and measured milestones often guide this type of leader in their timing of decisions.

• Slow Decision Makers:  Risk adverse companies who have a very low tolerance for failure, perhaps because of the financial structure, need a decider who will go beyond assessment.  They use defined research, analytic and data resources, detailed reports and experts to evaluate their decisions.  These type of deciders are patient and often are primarily focused on long-term goals and objectives.

Of all types of deciders, the biggest failure of any business leader is NOT making a decision.  CEOs and business owners are often surrounded by advisors and have multiple inputs into their decision making processes.  It can complicate the final call.  Talk is not cheap. Too many inputs can slow down decisions and increase risk.

Businesses fail in absence of making decisions.  New technologies can sweep them out of the market.  Hindered by bad personnel, companies can be drained of momentum and energy.  Capital issues can delay key projects and impact future revenue.  Making a decision, can negate these types of risks.

Empowering others to make decisions is important in any business.  Provide others the capability of being creative and strategic in their role by decision making authority.  You want thinkers and doers in your business.  If they are only allowed to do, based on your decisions, you can stifle cooperation and confidence.

You may need to set limitations on decision making capabilities by your empowered team based on the business risk tolerance.  Budgeting is one way to put in business controls, along with road maps.  Define what has the most critical impact on the business and put in place the sign-off authority for those decisions.  For example, if a product development change can delay meeting a critical release date of a product or service, put in place authorizations to manage expectations with all stakeholders.

Whether a decision relates to products, markets, finances, technologies or personnel, a business can easily become paralyzed without a strong leader that makes decisions.  The final decision is the responsibility of the leader. Inputs need to be managed.  Assign a deadline and know when a final decision must be made, without exception.

As the decider, you have the ultimate power.  How you use your power is a reflection of your leadership.  Whether you choose to make rapid decisions or methodical, deliberate decisions, the action matters most.  Don’t let decisions, small or large, slow you or your business down.  Procrastination is deadly.  Lead by deciding.  Decide how you will lead. Decide now.

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

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.