January 14, 2010

Entrepreneurs Speak – Optimism For Growth is Strong in 2010

Filed under: Uncategorized — Mark @ 11:37 pm

It was my first seminar presentation talk of 2010. I was curious. What would be the mood and perspective of 60 CEOs in the room following the economic brutality of 2009?  My seminar “Breakthrough: Taking Your Business to the Major Leagues” is a hands on goal setting and business building seminar focused on increasing company performance to major league levels.

As we began our first exercise of reviewing the CEOs’ top goals, I prepared myself for brutality assuming there would be lots of downsizing, layoffs, closures and general doom and gloom. I was totally wrong.

Here were some of their goals:

1)      Increasing sales 200%

2)      Starting a new tech business spun out from a major company

3)      Building a new division with new staff

4)      Ramping revenues and profits 300% from an acquisition

5)      Trying to find enough talented staff to grow fast enough

6)      Taking a staid professional services firm into a new business model and taking on the big guys with a 50% revenue growth target.

It was amazing – the optimism, the eagerness to engage and take the beachhead unabashed by the general media doom and gloom. There was no mention of government bailouts, subsidies or stimulus to make their businesses run. They supercharged with the passion of building something great that made sense.

One CEO, realizing his current business was increasingly commoditized and unfulfilling, had created a new product in a new category and went from idea to shipped product in 6 months. He had a transition plan to ditch the old loser model and ramp up the new one. Another CEO had a banner year in a tech business was looking for ways to manage the hyper growth effectively. A third CEO was growing his professional services business while his large national competitors were downsizing.

What was going on here? As the evening progressed, we focused on uncovering strengths of many of the businesses. We reviewed strategies and tactics how to boost their sales by adopting a different perspective to their market and their clients. We dug deep into their hidden content strengths, unlocking additional opportunities leveraging the Internet as their engine of growth. When the presentation was over, about 30% of the room huddled around tables discussing their passion, swapping take aways, tips and helpful input for each other. The entrepreneurs’ engines had been refueled and at 9pm they were hard at work building, creating, planning to breakthrough bigger and badder in 2010.

I relished in the post seminar discussion, as they pondered improved approaches to what they could do to build their success. They were in control. They didn’t get the doom and gloom memo from Washington, DC. They were busy planning to execute and build faster, more efficient and better. I heard the Commerce Secretary Locke at the Inc500 conference in Washington last year announce a new government office of “Entrepreneurship and Innovation.” I haven’t seen anything this Orwellian-named bureaucracy has done for any of the people I met last night. Instead, Washington can do more now – like waiving payroll taxes for every new employee hired in the next 6 months. That would show they get it and support the unique American entrepreneur growth engine.

The power of growth is in the hands of the entrepreneur who lives for achieving what matters to him or her. This is the power that will drive the business cycle upswing. So please support an entrepreneur as they build again and we will all see the benefits.  I hope YOU have a great 2010!

January 12, 2010

Getting Yourself Ready to play in the Major Leagues for 2010

Filed under: entrepreneur,leadership,management,start ups — Mark @ 10:33 am

The new decade is here – what is it you want to achieve for your business and yourself? As I discuss in my seminars, it's all about being clear on your top 3 goals and your mission. Getting ready to play in the major leagues. Of the tens of thousands of players who play elite university/colleage baseball, only 5,200 make it to the minor league system and only 750 of them make it to the Major Leagues. The difference is so small at this level of play – a minor leaguer can hit an 85 MPH fastball consistently but a major leaguer can handle the 90+MPH pitches. What does it take for YOU to play in the Major Leagues of your business? Many of my clients have felt tired, burnt out or uninspired after 2009 which was a brutal year for many people. However the downturn gave us an opportunity to cleanse ourselves of baggage, waste, fat and excuses and focus on what we really want for ourselves and our businesses. I enjoyed this Business Week article titled "Why Victims Can't Invent Anything" by Michael Maddock – the point is that when the going gets tough, the tough kick some ass and get creative.  Bottom line, according to Maddock, is that if you complain about anything, you are playing the victim. Forget the complaints – look forward and map the vision of your dreams that will translate into actionable goals. I agree and I have seen with my clients (and even with myself) how fear can be a paralysis of the spirit of innovation. I am not suggesting you just charge ahead, damn the torpedos style, ignore risk and plunge head first. That would be reckless. Rather consider why it is you are doing what you are doing. Where does the passion meet the execution of your work? This Hedgehog (Jim Collins) , BHAG (Verne Harnish) or your "Why" (Simon Sinek) . I have worked with many entrepreneurs helping them set their top 3 goals. It's a fun process that clarifies the steps we need to take to execute on the bigger goals (I call these the "1 Foot Hurdles"). However when combined with the clear sense of purpose that the goals are propelling you towards the fulfillment of your business and/or personal fulfillment, this process takes on a deeper, more rewarding role in defining where we you want to end up and for what reasons. The outcome is greater commitment to achieving your goals. I wish you success in your endeavors to achieve your goals in 2010 and beyond!