Your word.

I didn't understand the importance of this next sentence. A person needs to do what they say they will do. My parents, teachers, friends, family, tutors, role models, business idols and many others tried to point out just how important it was, but somehow (somehow!!) it never really sank in. Heck, it was even presented many different ways, different words, different forms...

'Do what you say, when you say you will do it!'

'Say only what you mean.'

'Be truthful in all things you do.'

and so on and so on....except it never sank in at the core. But I think I got it, I think I can sum it up in a way that will stick :D It came at a really insignificant moment (but this is important). A friend wanted to discuss renting out my apartment for a few months, I was busy and promised to call her back. I realized that the moment I said "OK" to calling her back, the commitment/promise was made. Before me was a fork in the road, two options:

1. Don't call. 

2. Call. 

The first means that I have lost so much. The respect of my friend, her trust in me, her faith in my word and her faith in my commitment to the relationship. Yes, yes, small promise and is an insignificant call-back that important? Well, yes. Why? Look at the second option. With a commitment to call-back being such a small thing yet when fulfilled my friend believes in my commitment to the friendship, my respect for her, my integrity with my word and finally, that I will do what I say I will do. Keep enough small promises (to others and yourself) and they (and you) will start believing when you make the big promises. Over the course of a lifetime, this can pay huge dividends.

Think to yourself, next time you say 'OK', are you going to follow through?

Nice quote....

“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly; who errs and comes short again and again; because there is not effort without error and shortcomings; but who does actually strive to do the deed; who knows the great enthusiasm, the great devotion, who spends himself in a worthy cause, who at the best knows in the end the triumph of high achievement and who at the worst, if he fails, at least he fails while daring greatly. So that his place shall never be with those cold and timid souls who know neither victory nor defeat.”

Theodore Roosevelt

Learn one new thing everyday

I think if you learn one new thing everyday you are soon going to be obsolete (in the business-world sense at least). My personal goal is 10 new things everyday.

Time isn't your greatest resource, it's your energy...

I just read the following quote:

"Your greatest asset is your earning ability, your greatest resource is your time."

I dont think this is entirely true. Your greatest resource isn't your time, it's your energy. We are all working off the same base of time (24 hours in a day, 5-8 hours sleep, 1-2 hours eating). It's pretty hard to change this or even minimize the above (thats a slippery slope). The best method and the greatest resource we have is the energy we bring to those hours.

Its good to maximize time, if you can squeeze in extra time say from sleeping less over the next month, great! But think of the advantage you will have if you bring huge amounts of energy the time that you do have. You will go after your greatest challenges, tackle that problems that you have been putting off and most of all, accomplish more. So what if you take an extra hour or two!

Sucking most of the day

Failure is important...yes yes yes...heard it a million times! What isn't recognized so much is how discouraging it can be. Take for example, a small minor task I had today. I was formatting a final report and it took me 10 tries to get this small (relatively insignificant) graph just to fit on my page. It seemed unfair that I had to try 10 times before I got it right 1 time.

This applies to most things. In fact, most things take longer than 10 tries to get it right. If extrapolated to more of life, it implies that its possible to spend 90% of our time failing at one thing or another. That's discouraging!

Its amazing though, that the 1 right time made up for the 10 failed tries. Life isn't counted in one step forward, two steps back or whatever cliche is used. I think a better one is this:

Life is a pile of failures. The bigger your pile of failures the better. But only as long as you stay on top the pile, continuing to add to it, not letting yourself get sucked down into the pile.

Teaching Inspiration

I was feeling discouraged today. I doubt I am alone in the feeling. Some days are worse than others and for some reason we simply cant find inspiration. I tried many things, exercising, eating my fav food, I even went to a festival. Nothing worked. I reverted to some patterns (breathe, focus my thoughts, imagine) that help me get going. Kinda worked.

Inspiration is a funny thing. Its an energy that materializes out of nowhere. It can spawn world changing thoughts, amazing feats of physical ability or the desire to change one's life for the better. The power in inspiration is endless.

But yet, we think inspiration belongs only in the realm of the arts. We play it down in business. Although thinking of the big idea (inspiration) can be worth a lot of money. Its only in the day-to-day activity that true success is found. Finding inspiration each of these days can be difficult.

The Last Push

Its that extra rep you push out, in the last set of pushups, where you build a body to be proud of at the beach.

Its the work you do at 9pm on a friday, that gets you the promotion.

Its the last kilometre you run, when your legs are screaming in pain, that lets you finish the triathlon.

Its when your terrified and nervous, but you go those extra 10 inches to plant a kiss.

If its worth getting, its likely going to involve discomfort. Why? If it everyone could do it, it wouldnt be worthwhile but most people don't like being uncomfortable. Its like my buddy Tyson says, "Training for a triathlon involves a haneous amount of pain!" I think it applies to most everything worth getting.

Would you be friends?

During a due diligence meeting today, my boss, Brad, asks the president and founder of the company, "Do you have a lot of friends?" He responds,"In business or personal life?" Brad, "Personal."

It seems strange to value something as obscure as whether a person has a lot of personal friends when buying a business. Brad has bought over 8 companies and has been doing this sort of business for almost 15 years, there must be some validity to the question.

He said to me after, "Don't go into business with people that have no personal friends. Why? Because they are the people that will try to screw people once some trust builds up and the moment they turn there back, the try to take take take."

Its a good test. Would you be friends with this person? No. Then why go into business with them. Compassion and trust are too elements that should be in all relationships, if someone lacks these key components, they probably won't be around for long.

Selling A Small Business

This week I have to enter into negotiations to buy a small business. The other side believes that it's worth a lot more than it is. It's my job to convince them that it's worth what are willing to pay. Unfortunately, its often difficult to explain the true value of a business to small business owners, who have invested the proverbial blood, sweat and tears.

The numbers, including some industry standards, show that we are paying the correct price (half of what they are asking). The seller, however, is uninformed of these methods and thus wants a higher price. Small businesses such as this are prone to overvaluing the effort they put into the business. What they often don't understand is that the more valuable they personally are to a business, the less the business is worth. Its simple, once the owner leaves, the value leaves with them. Kinda selfish really.

A small business owner should try to make the business run without them. Its the logic behind systematization. Makes it easier to sell. As Michael Gerber says in the E-myth, there are only two reasons for a business, to sell it or franchise it.

A Cool Business Model

From Tim Ferris's book, The Four-hour Workweek.

Here is a cool new business model made possible by the internet. Steps are listed below:

1. Be a specialist/expert at something.
2. Build a DVD explaining how to do it.
3. Outsource the manufacturing of it.
4. Sell it over the Internet.

Easy. If need be, replace DVD with website, newsletter, whatever. Its easy and cheap and if its good, you can reach a lot of people without a lot of expenditure.

Next project: My mom teaches ballroom dancing for people in wheelchairs. How-to DVD will be coming for Christmas.

A Constant Reminder

Although my dad will surely role his eyes (thinks I can be a bit dramatic) I will go ahead with this blog. I read this theme in two separate books and one speech by Steve Jobs, all within the span of a few days. (Thanks Allen and Tyson!!)

The theme is that death is a constant companion.

It follows you wherever you go, all your life. You cannot outrun it or hide from it. It is always there, ever patient, ever ready. In the light of this, knowing that you could go at any second most things seem not so important. Is it important that you get that new ipod? Or that when you go to clubs you dont meet anyone? Just doesnt seem that important, does it? Family, loyal friends, work that lets you contribute to the world - these are the important things.

Its not simple enough to live life as though you may die tomorrow. I dont plan on dying tomorrow, nor the next day or a long while after that. But I could. So why be scared/intimidated/timid/content - there is so much to do...

Words For The Ages

Some words that you use as a teenager/young adult are cool. However, once you enter the business world, some of these words have to leave your vocabulary lest you run the risk of sounding immature - and believe me, immature is almost as bad as dumb. These words and their replacements are listed below:

Old Word: Awesome (or Sweet!) - Replace with: Great.
Old Word: Seems - Replace with: Appears.
Old Word: Cool - Replace with: Excellent.
Old Word: Fun - Replace with: Interesting.
Old Word: Cops, 5-0, pigs - Replace with: Police (they arent your enemy anymore, they protect you)
Old Word: A'ight - Replace with: Yes.
Old Word: Bi'atch - Replace with: ...(silence)...

Of course there are some words you dont get rid of: Boo-yah (always sounds cool), HOT (useful for so many things) and my personal favorite - Badonkadonk.

Adherence

The more books I read, the more complicated things seem to become. My brain cant handle it. Its like the more clothes I buy, the more complicated it becomes to choose what to wear. The more furniture I buy, the more cluttered my apartment became. The more dishes I buy the more I have to clean (not true, but it feels that way). The more girls I date...uh...err..nevermind.

Its like single variable calculus was easy. Multi-variable calculus no way! Impossible!

I always thought the more I read on business, in all of its categories, the better I would be at business. Not true. I think that people with the most success have a few principles that they adhere to strictly. Seems to make sense that I should have mine:

1. Underpromise/Overdeliver

2. Be impeccable with my word. (Do what I say I will when I say I will do it!)

3. Listen to myself.

The first is obvious but tough. You want to get people excited, hell, get yourself excited. But its important to manage expectations. The second is, in my opinion, the most important for business. Its a function of trust, the most important thing in a relationship. Business is about relationships. The third is less obvious than the first two but equally advantageous to implement. Its the times when I have walked an others path and gone astray. When I listen to myself, I have no regrets. No regrets means higher and more solidified self-confidence.

I will add more as time goes on and my experience widens. A lot of trouble in my life could have been avoided by adhering to the above.

The Four Agreements, By Miguel Ruiz

1. Don't Take Anything Personally -What this does is protect you from taking offence when none was meant. Although it may seem passive and is if you are letting people "get away with something" thats not the case.

2. Be Impeccable With Your Word - simpel as dont say things about people that you wouldnt say to their face. Heck, dont say anything mean at all. Be honest with yourself and others. Do as you say you will.

3. Dont Make Assumptions - Sometimes you will be called upon to make judgements, get as much information as possible. If you must react, give the benefit of the doubt.

4. Always Do Your Best - Always. Give your all.

These four laws work in conjunction with each other; like the spokes on a wheel, they work best together.

Cool Websites

These websites are cool. I am surprised I had to read a book to find out about them. Seems like these should be common knowledge (or commonly used tools).

www.getfriday.com - get a virtual assistant in India to help you with a range of tasks. Cheap and apparently they are great at what they do.

www.elance.com - hire a professional website designer, engineer, you name it!

www.hotrecorder.com - record conversations over the internet. (we should all be talking over the internet anyways. 3 cents a minute!!!)

www.contactanycelebrity.com - just kind of fun.

Its hard to imagine what else is out there, but I will bet there are a lot more great sites. Please post in comments other cool websites.

Out into the unknown...

Its a funny feeling, almost like running in the dark, you don't know where you are going or whats ahead. Going out into the unknown is a frightening experience. To walk towards the light is an easy choice but to walk towards the dark - willingly - is a difficult choice. As a people our choices tend towards the known. Its why we turn on the lights, stay in jobs for years or accumulate money.

I, personally, am kind of frightened, as I stare into the darkness I feel nerves that I claimed wouldn't exist. This claim, however, was made during a time of easy choice - light. The calming words of "every door that closes another opens" and "every failure is an opportunity to learn" do nothing to reassure.

Its frustrating but also exciting in another way. It is my choice as to which it will be for me. I have looked in the mirror and realized that I am unhappy too many times. Maybe a gentle hand is pushing me in the direction I need to be going. I hope so.

"Hmm..."

I have been saying that to myself a lot lately. Its a reflective thing. I find when I am going "Hmm..." I am seeing things in a different way. Maybe its cause of new information or maybe a new insight. The latest reason is some unrest in the security of my job. It seems it was not as secure as I thought it was. Or maybe it is. Hmm...I wonder.

Sometimes its scary when you realize things arent as you thought they were. Its shocking and disturbing when it impacts something as important as your job (or marriage or health or your family or anything important to you).

Maybe you come up with an answer maybe you dont. But there is value in "Hmm...", its good to question things, to see things from a new light. Whether it builds your foundation of experience or solidifies your character. Each "Hmm..." is an opportunity to grow.

Transition Series Part 2

Which Strategy is the Right Strategy?

Wait..you mean I should have a strategy? Yup. A person without a strategy is about as good as a business without a strategy, or as lost. In this case, the strategy that the business/role requires is going to determine how you focus your learning agenda and attention.

Watkins explains that there are 4 basic business strategies:

1. Start-up
2. Turnaround
3. Sustaining Success
4. Realignment

Basic knowledge of the business and/or position you are moving into should give you a general idea of what strategy is needed (new company = start-up, failing old company = turnaround, etc). The basic checklist you want to run through for assessing the business and how your strategy fits into the business strategy, follow below:

1. (obvious) What type of situation is the business?
2. Implications for challenges/opportunities that you will confront? Start-up's challenges include creating new systems, building a team, etc.
3. Implications for learning agenda? Do you need different amounts of time with each employee?Will you likely be letting some employees go?
4. Which of your strengths are going to your greatest asset? Of your weaknesses which will be the greatest liability?
5. Prevailing frame of mind? Are you going to be on the offense (start-up) or more defense (sustaining success)?

These are the basic questions and should be expanded on. The main idea of this section is to give some thought to what type of business you are moving into. Many managers have failed because they have brought a personal strategy that doesn't fit with the business strategy.

Transition Series Part 1

Seeing as I am transitioning into a position within my company, I figured it was a good time to outline a transition framework. These frameworks and guidelines are drawn largely (if not all) from the book by Michael Watkins, The First 90 Days.

The Transition Series will look like this:

Part #1 - Don't Get Stuck In Your Old Job and Learn Fast
Part #2 - Which Strategy Is the Right Strategy?
Part #3 - Secure (and find) Early Wins
Part #4 - Negotiate Success (with your boss)
Part #5 - Achieve Alignment and Build Your Team
Part #6 - Make the Right Friends
Part #7 - Keep Your Balance (and help others)

Seven parts for seven days till I make the transition.

Part #1 - Promote Yourself and Accelerate Your Learning

A major goal in making a good transition is letting go of your previous job. It may have been a great experience or a bad experience, but what is most important is that you let go of it, mentally if not physically. Being stuck in your old role will not allow you to address the skills and focus that your new role requires.

The major goal of promoting yourself is to allow your mind to focus on the new role. We all know what it is like to enter into a relationship with someone who is still in love with an ex. It works the same for jobs.

Ask yourself:

• What has made you successful so far? Are these strengths sufficient for new job? If not, what skills do you need to develop?
• Does your new role require you to do things that in the past you haven't enjoyed doing? What is your plan for overcoming this obstacle?
• How will you mentally prepare for entering your new job and leaving your old one?

Accelerate your learning by developing a structured learning plan. The three main areas that you must focus on are as follows: Technical, Cultural and Political Knowledge. Use actionable insights as a way to speed up your learning. Develop these insights through a specific (tailored to your situation) set of questions that are standard across those whom you ask. Failure to understand any one of the three can lead to your changes meeting forceful resistance. All situations are complex, the more dimensions/angles you are able to study your particular one from, the more you will understand it.

Mistakes vs. "Mistakes"

It's all to common to hear in business these days that failure is ok, in fact, we should promote failure. If mistakes are failures than I am here to argue that there are good and bad mistakes (or mistakes vs. 'mistakes'). Bad mistakes are such things as typos, inaccurate spreadsheets, forgetting to call someone back, etc etc. Little good, lotsa bad. Good mistakes are trying out a new system that goes wrong, making a prediction on the future (assuming that you couldn't get more or better info) etc etc. These kind of mistakes often provide you with greater insight next time (a.k.a. experience).