All in Entrepreneurship
I don’t think there is anything or anyone that operates at one polar extreme versus another. Sure, some folks veer more in one direction than another, but rarely, always and only at the extremes.
But you wouldn’t think so from most of the public rhetoric which, by definition, is driven by a desire for attention and alignment (with a predefined ideology - ours or someone else’s).
It seems to me that there are two kinds of people when the going gets tough. Those who panic and freeze. And those who manage their emotions and keep doing. This latter group is the group I think we all want to be part of.
Now, note that I didn’t say they stay calm, rather that they manage their emotions. Getting emotional and stressing out is, at least to me, a pretty natural human emotion. I’m not sure we can completely eliminate that response reflex. But I do think we can learn to manage those emotions, and thereby keep them in check.
If there’s one thing that social distancing has re-emphasized, it’s the power and value of social connection. That community matters - and not only does it matter but it’s, frankly, more important than it ever has been. We’re all experiencing that, regardless of whether or not we’d conceptually bought into the idea before.
In fact, I’ve been heartened by the virtual outreach that I’ve seen everywhere - from family to friends to celebrities, in real life and across social media.
There’s that old saying that it’s easy to have principles until you have to practice them. Well, it’s the same thing with partnerships, especially when it comes to buyers and suppliers.
We like to throw that word around, especially during the early days of a relationship, during a QBR or during renewal times (by both sides). And that’s easy to do. It’s no sweat off anyone’s back to do it then. And we probably believe it, too.
In any business, you have to deal with odds on a day to day basis. Nothing is for certain, so you do the numbers, work out the scenarios and then take a call. Some of those times, things will go better than expected, some will go as expected, and other times, things will be worse than expected.
But however things end up, not taking action is NOT an option. You have to act and do.
If there is any consistent counsel, it is that we need to make decisions on the basis of facts. Hard, objective, scientifically-based information that provides us with a solid understanding of the situation at hand, the magnitude of the issue(s), the possible actions we can take and the relative weightage or prioritization of each.
This type of information ensures that we minimize the impact of emotion - subjective ideas based on our fears, our histories, our prior baggage and “what others are saying”.
We’re in an age of division. Everything seems to be either one side or the other. Red or blue. Black or white. With us or against us. You can’t read or listen to the news without hearing about it.
But while the social and political divisions in our discourse feel so much more pronounced these days, the fact is that this type of ‘one or the other’ mindset has been there all along, not least in our economic and personal lives.
The word “partnership” is used quite liberally these days, across just about all aspects of our lives - from the personal to the professional, whether we’re talking about our relationships, about our work colleagues or our suppliers and customers.
But what do we really mean, in any of these contexts, when we use that term?
I recently heard a talk by Bob Myers, General Manager of the Golden State Warriors, on leadership, values and culture in winning teams. It was a great speech and there were many points he raised that made sense, and really resonated with me. (I’ll write about a couple of them in future posts.)
Episode 22 is now available and this episode wraps up our discussion about Marketing and Sales - specifically, how we casually use terms such as "marketing bullshit" and why that points to a deeper, underlying problem within the company.
Cas Hardware - a small hardware retail business in my neighborhood - closed its doors recently after 41 years. It had become a fixture of the Andersonville community and was a place where “the management” was folks you could get to know, who would be on hand to answer your questions, give advice if you needed it and take care of any purchases you needed to make.
If you’ve ever committed to learning a song on a musical instrument, you’ll know that there’s a certain amount of struggle that’s involved in the process.
Part of this struggle is knowing the technical details - where do I put my fingers, what chords do I play, what are the timings and how should I think about the phrasings here or there.
Episode 21 of the podcast is out now and continues this month’s focus on Sales and Marketing.
Today, we discuss the need to engage and entertain your customers, who have a plethora of options and access, and are forcing marketers to rethink how they attract customers.
Back when I was in Business School, the undisputed heavyweight champion of the Michigan/Ross Business School universe was a gentleman by the name of C.K. Prahalad. In fact, forget the Ross world, Professor Prahalad was, alongside Michael Porter of Harvard Business School, arguably the best thinker in the world on the subject of Corporate Strategy.
I mean, this was the guy who gave us the term, Core Competence of the corporation, and got us thinking about what it was that a business really did.
Episode 20 of the podcast is now available and today’s episode focuses on the importance of standing your ground when working with a customer. We like to say that the customer is always right, but sometimes, a little tough love goes a long way, even if it puts us at commercial risk.
Those Marketing folks - what do they do?
Why do we need to hire another marketing person?
Is it really necessary to spend that on Marketing?
You see it time and time again - organizations have this funny relationship and view of Marketing.
We love the mystique that Apple has built around its business and think it’s entirely down to its products.
Episode 19 of the podcast is now available and this episode kicks off this month's focus on Sales and Marketing - subjects that are both loved and hated.
“Is a dream alive if it don’t come true, or is it something worse?”
I’ve been thinking a lot about Bruce’s words from The River. There’s a gravity in them - a sense of frustration, but more than that, a sense of finality and hopelessness.
Now, I know the specifics of that song and the context within which he sang those words, but as with all things Bruce, his words apply to so much of how we live our lives and the paths we choose to take and the people we choose to love.
Episode 18 of the podcast is now available and this episode wraps up this month's conversation around aspirations, a subject that's not only topical for this time of year but also central to our ability to achieve and become who we want to be.
