Tag: Management

Six Steps to Screening Your Next (ad)Venture!

So you are finally ready to take that leap of faith and make the surest best you can – on yourself, by starting your own new venture!  Congratulations, because for many, this is a huge step and making the decision itself, often, is the biggest hurdle to overcome!  It takes courage, determination, and most importantly, reconditioning your vocabulary and altering your definition of success.

So, with all the ideas that you have, or are presented to you, what process will you go through to filter what you believe is the right next (ad)venture for you?

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Which Plane Should I Catch?

Okay, I confess – this post technically has nothing to do with air travel, but the concept of hopping on a plane, does serve as an important symbol for communication.

So let’s get started – referencing the airplane images provided in this post, I’d like for you to answer the following questions.  And, for the record, they are not trick questions.

First, how high do you think the commercial airliner is flying?  Answer = Very high.

Second, how high do you think the combat plane is flying?  Answer = Not high at all.  In fact, it’s very low near the ground.

Let these images resonate with you for a bit because in a moment, I’m going to illustrate to you one of the most common communication mistakes people make… specifically at the office, where the impact of the mistake, could prove detrimental.

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Focus on the Inner Circle!

Businesses are living, breathing entities.  In fact, they are not that much different than the human body.  Like the body, businesses have core functions (e.g. the equivalent of the “heart”) and they have supporting functions (e.g. the equivalent of “arms and legs”).  Now, in the event of a negative incident, (e.g. an accident), the body’s focus immediately shifts from “business as usual” to “preservation mode” and it does so by harvesting a majority of the blood from other parts of the body to core functions so to ensure they remain active and functioning – even at the expense of its supporting functions.  Why?  Because the body knows that if it can’t keep its core functions operating, it’s a matter of time before death is its only option.

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The “Infamous” Corporate Ladder!

“It’s good to be the King!”

Working hard and reaching the top is something that many strive for… and why not?  It’s recognition for your hard work… it’s validation that you have the right stuff to make things happen – and the perks… the perks could be wonderful!  Now, granted, there are a lot of challenges on your way to the top and, even more, once you arrive.  But today, we’re going to talk about a few simple scenarios about how you may actually get there!

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Board of Directors – Top 12!

It’s no secret that I believe having a board (of directors / advisers), formal or not, is critical to a company’s success.  As in life and in business, perspective is key when making important decisions and having someone who has your (or your company’s) best interest in mind, is a valuable resource.

As I was reading yesterday, I came across some great information about questions that a board must ask to really gauge the state of a company.  If you are a CEO who has a board and they are not asking these questions, maybe you need to augment your board (or, find new members all together).  If you are currently a board member and not asking these questions, you need to start.

Regardless on which side of the table you sit, these are critical questions that require considerable thought.  Granted – some questions may not apply to all businesses but, if nothing else, maybe asking some of these questions today will position the company on a successful track thereby allowing you to ask the remaining question later?

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Hosting Effective Meetings…

“Let’s have a meeting about that meeting… need to clarify some stuff.  Yeah?”

Ever heard that one before?  If you’re like me, then the answer’s probably yes.  Today, meetings seem to be the abundant theme and while there’s a lot going on, it’s important to remember that meetings are only valuable when they are effective.  So, how do you execute a successful meeting?  Well, for me – it has everything to do with golf.

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Love thy Vendor!

I came across a great article today via HBR about the vendor-customer dynamic and how, unfortunately, vendors take an unnecessary beating  from their customers in the name of “good business”.  All to often, I think people tend to forget that business is done between people – not machines, not companies… but PEOPLE!  Therefore, if you want to get the best out of people, you need to start by putting the best into people – and you do that by exercising the Golden Rule (treat others as you would like to be treated).

Remember, in today’s globally competitive business environment, having strong ties to your vendors can yield tremendous insight, which could allow you to make better decisions.  Your vendors have relationships with your competitors and have powerful insights on how the market is moving along.  In addition, vendors can provide you with financing (e.g. net terms) that allow you to manage your cash flow more effectively.  So, why would you want to treat someone who can help you, badly?

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Does my company need a Board of Directors?

Board of DirectorsOkay – so let’s be clear on what a “board of directors” is.  According to Wikipedia, “A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. The body sometimes has a different name, such as board of governors, board of managers, board of regents, board of trustees, board of visitors, or executive board. It is often simply referred to as “the board.”

All right – that’s done… so, let’s try to answer the question: Does a startup need a board of directors?  The answer is… it depends.  To be more clear – it depends on what stage the “company” is in specifically relating to its idea or product.
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The Art (behind) Strategy…

I came across a great article by Richard Rumelt, Professor of Business and Society at the UCLA Anderson School of Management titled: “The Perils of Bad Strategy”.  It’s a great read that discusses the impact of bad strategy and how, unfortunately, many organizations (and their leaders) believe that they have a strategy when they really don’t.

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The Power of Enchantment!

Recently, I was fortunate enough to hear Guy Kawasaki speak about his new book, Enchantment.  For those of you who don’t know who Guy Kawasaki is, he’s a local Silicon Valley guy who’s done many things including having written 10 great books.  His un-official bio reads as VC, start-up, and author.

It was a pleasure for me to hear Guy talk about his new venture and trust you too will enjoy it.

Enchantment
62:20
Guy Kawasaki at Stanford