Man… It’s the “what ifs?” killing you… nothing else… There’s virtually nothing gained from them other than increased stress; which is something we don’t need more of.
I am an eternal optimist. I realize there are consequences regarding any decision I make. I always tend to do the classic “cost-benefit analysis”. My mind is programmed to think that way… I accept the possibility of a bad decision. I am totally comfortable if things don’t work out. It’s an empowering feeling of freedom. It keeps me moving forward…
If there’s one thing I can’t stand it’s the analysis paralysis of people who lack the capability of making a decision… I also abhor those who cannot accept a bad decision for what it is… nothing more… You see, while it’s important to learn from a bad decision. You cannot keep looking back. You have to let go and “move on”.
If you find yourself caught in the “what ifs”… ask yourself why you are tossing and turning so much… Look at the decision you are trying to make…
Do the potential benefits exceed the costs?
What is the worst that could happen? And … more importantly… What’s the PROBABILITY of the worst thing happening? Chances are it’s so low it’s not worth the worry…
Lastly, if the worst did in fact happen… Could you handle it? I’m pretty sure you could…
If your stuck in the “what ifs” … Try the above mentioned approach… I think with a little practice you’ll become more comfortable in making decisions and will soon enjoy the empowering feeling and comfort that comes with the ability to make them without worry….
Why do we seem to be so critical of mistakes? It sometimes seems ingrained in us to view mistakes as a problem rather than a natural part of our development or…growing pains. As a business owner mistakes can be costly and painful (Yes I am speaking from experience J), however, my feeling is mistakes should be embraced as an opportunity to learn…
Reminds of a classic TV series...
A noted exception…
Now repetition of the same mistake is another issue… That needs to be dealt with, and if you’re a business owner, it regrettably may require the termination of an employee. If you have experienced this first hand, it may reveal a flaw in your company’s hiring or training processes… It can be an expensive lesson you don’t want repeated, yet still an opportunity to learn…
Let them take risks…
Here’s some more food for thought regarding mistakes and employee management… I always encourage those who work for me to take risks. I do this because I believe it’s the most effective way to develop talent. Employees are valuable assets that work best when given opportunity. I don’t want to micro-manage, nor do I want to be surrounded by “yes men or yes women”. I want them to have the freedom to take chances… to learn… and develop their skills.
If you’re a business owner with employees; I encourage you to give your employees room to be creative and encourage them to take risks. Yes they may make mistakes. Identify them quickly and reward and encourage them to work through the challenges. Manage and mentor, the benefits far outweigh the costs in terms of scale, happier employees and flexibility…
Don’t assign blame…
Too often we look to “assign blame” when a mistake is made. While it might give us a false sense of security, a better approach is to accept it for what it is and learn from it. If you take that approach, you will cultivate a stronger corporate culture and better position your company for the future… While they may be painful at times, thus the… “Growing Pains”… In the long run they’re well worth it!
Imagine this scenario. Dude is backing into a tight parking space between two cars. He asks his Bro to help back him in.
"Dude... How much room do I have?"
Dude Driving Car: “Hey… Bro… How much space do I have?”
Bro Helping Out: “Ahh… A little bit”
Dude Driving Car: “Bro (with sarcasm). Is that a little bit…two feet? … a little bit two inches? What the hell do you mean… a little bit.”
Bro Helping Out: “Ah sorry Dude… you got about three feet”
Dude Driving Car: “Thanks Bro.”
You could probably repeat that scene everyday. Someone asks a question and or is looking for assistance… We try to help but fail to clearly define the answer in terms they can understand. The result? Added confusion and sometimes frustration.
Take the example above…
Dude needs help from Bro. He asks how much room is left so he doesn’t bump his car into another. Bro responds… “a little bit”. While Bro understands what “a little bit” means to him, Dude has no idea and thus… the sarcastic reply.
You see “a little bit” is a relative term and all of us have a separate meaning for it. While that’s all well and good, it’s not specific enough as we all have our own definition of what that means…
So how do we avoid this problem? Be specific…
How much room do I have? …Two feet
How much time until we meet? …10 minutes
When do we have to leave? …At 5pm
Taking this approach eliminates any misinterpretation… it’s clear… DEFINITIVE. Most of our problems can usually be traced back to miscommunication. Eliminating the relative aspect of our communication can not only simplify things… but reduce potential issues… Think about it.
If you’ve had the pleasure of seeing the movie “Up in the Air”, let me tell you… I can relate. Regrettably I never had the experience of Captain Sam Elliot sitting next to me and thanking me for years of great service… Be that as it may, after 750,000 over seven years, I knew pilots and flight attendants on a first name basis… I’m not kidding .
When you fly a lot for business you quickly learn the importance of efficiency. You’re rarely at a desk, you’re totally mobile and get accustomed to chaos. It’s an added layer of complexity and stress that can make your tasks A LOT more challenging. The key to your productivity is to transform “chaos”… into what I call “organized chaos”.
As I became accustomed to frequent travel, I quickly became exceptionally organized. I had a system to follow to make sure I was able to organizedmy travel, pack my suitcase, plan my meals and established reservations at hotels. I could plan a 10 day business trip in 6 to 8 cities in less than 1 hour, packing included… Best of all limit the stress.
I also had the challenge of managing work flow. At first I had no assistance, over time I got support; yet I still had to respond to clients, manage my deal pipeline, address management concerns and generate revenue. I was RARELY off the phone and RARELY in my own office… unless you count Starbucks… Despite these challenges I still found time to pursue my passions, take vacations, spend time with my family and have fun.
The funny thing was, despite my crazy schedule, my colleagues at work who did not have to travel always seemed less productive. It wasn’t due to effort, but a lack of organization. They didn’t have the same challenges I had and thus could afford to be a little less organized.
Organization is one of the pillars to business success. I spend most of my time creating ways and methods of doing things quicker and more effectively. You see, it’s not how hard you work, but how smart you work. If you find yourself in the common predicament where you’re overwhelmed, here are a few tips that can help you get organized.
Have a “To do list”. This does not mean have sticky notes all over with reminders… hardly. During a quiet time, usually Friday afternoons for me. Write a list of tasks for the week and when you plan on completing them. Make your list LONG. Keep in mind, you don’t have to complete everything. If you don’t finish something. Move it to the following week.
Schedule time for yourself. Make time to exercise, spend time with your family, see a movie. You need a healthy release. You can’t have success without balance. If you find yourself saying you don’t… it’s an excuse.
Accept the breakdowns. Let’s face it, things will go wrong. The deal will fall through. The client will get mad. The employee will call in sick. When facing a breakdown, don’t spend more than 5 minutes stressing or worrying about it. Keep the energy forward.
If you lose focus… go back to the “to do list” prioritize what needs to get done. For business owners I always say, start with the task that will generate revenue the fastest. Money pays the bills..
Don’t make an issue when there isn’t one. I had a former business partner who would constantly worry about things that didn’t happen. This cost him time and productivity. Worry is a waste. It achieves nothing and costs everything.
If you start to focus your energy on organization in your business… in time, productivity will INCREASE. In fact, you will soon discover you can likely accomplish things in a week that you never thought possible. Get accustomed to the practice… it takes time. Remember… “DON’T WORK HARDER… WORK SMARTER.”
To me there is nothing more annoying than a relative term. Take the word “EXPENSIVE”, it has different meanings for different people and thus, IMHO… is totally useless. Another thing about the word is the negative connotation associated with it… It implies that you can never obtain it… check out this video to learn more about my feelings about the concept….
I have made a number of posts regarding the word “busy”… If you’re interested in reading them please click here and enjoy.
If you’re curious, yet pressed for time, I’ll paraphrase my feelings on the word…Frankly…I HATE IT. To quote Mr. Udall (The character played by Jack Nicholson in “As Good as if Gets”)…
“I am using the word hate here.” … One of my favorites by the way…
When we use the phrase… “I’m busy” it projects negativity. It’s likely interpreted by others as:
I can’t handle things.
You’re not important.
I’m over my head.
You get the point….
I don’t think we mean that when we say “I’m busy”. Nor do I think we’re actually incompetent (there are a few exceptions here ). The problem is, if someone calls us and we say… “I’m busy”, they hear and feel the negative energy. If you’re ever in that predicament, and are tied up on project, try this approach…
“Thanks for calling. I am in a middle of something but you’re call is important to me. Is it possible for us to catch up later today or tomorrow?”
This is what we want to say but since we’re pressed for time. Unfortunately we default to… “I’m Busy”
When I think about this concept it always resonates so I decided to take it one step further. Let me ask you, is being “busy” a bad thing? If you think about it, it’s not. I find this dichotomy interesting. You can say to someone your busy… and it’s bad… but if you’re lucky enough to be busy (especially given recent economic events)…it’s good.
Do you find that interesting? I do. I used to work for a company, a rather large Wall Street firm with thousands of employees. Our group had over 100 people working as a team. When the financial markets crashed, we went from 100 people to ZERO… Think about that…
Fortunately most have landed with new jobs or have moved on to greener pastures. There are still, however, are a few yet to find something new… let’s call them the “un-busy”.
If I look back on each day, I am always happiest when I’m busy. I feel needed, responsible, I have stuff going on and making it happen. The day FLIES by. There are plenty of people out there who can only DREAM of that problem. The next time you’re stressed and have a lot of stuff going on…be thankful… it’s actually a great position to be in. Think about it…
Don't Try To Understand Social Media and Networking
Understanding Can Limit Opportunity
There is a giant world of opportunity with “social media”. Everyone talks about it, yet to most people it’s a void. We want to participate; yet a lack of understanding holds us back. Our brains are programmed to understand. How can it help us? How can it help our business? Therein lies the downside. Our desire for understanding backfires and limits the opportunity.
Change Your Way of Thinking
Focus Understanding Can Limit Opportunity
I recently read a book about physics called The Dancing Wu Li Masters. The author, Gary Zukav, wrote about some of the complex theories of physics and explains them for the layman. He discusses quantum physics, particle theory and the theory of relativity among other things. Despite his efforts, some of the ideas were tough to grasp these ideas, as they’re a little “out there”. One concept, however, resonated with me. At the turn of the 19th century, physicists felt there wasn’t much left to discover. They felt they had explained everything based on their way of thinking at the time. A few bold thinkers like Albert Einstein, among others begged to differ. They felt there was more to discover and continued researching more ideas.
Eliminate Preconceived Notions
It was there willingness to go against the grain that leads to extraordinary breakthroughs. The basis of their discoveries was an acceptance to eliminate the need to understand. You see, in order to break through, they had to eliminate any preconceived notions of how things should happen and simply accept what happened. This is the essence of why we become hesitant in using social media. We get trapped in the notion of how it can work, without accepting the fact that it does work.
Build Relationships - New Opportunties
Embrace The Results
A few months ago I started leveraging social media as a means to build both personal and business relationships. When I started I admittedly knew nothing about it but simply accepted it would work. I spoke with experts in the field and formulated a strategy. In time I started to get results. It was slow, methodical, but I kept at it and soon recognized its power. Social media is where the market is going. When I started, I understood nothing about it yet was willing to accept what it gave me. Like some of the great scientists of the past, I eliminated the need to understand and simply just did. I am certainly glad I did.
I started playing in the social media space a little over a year ago. When I got started I must say I was a little… ok… very overwhelmed. Fortunately I had a lot of help and inspiration through the various connections and friendships developed along my journey.
That’s what I really like about social media… the connection with others. It has been a tremendously positive experience and helped me in both my personal and professional development.
The Franchise King
This post is dedicated to some of the people who helped me along the way. As a tribute I decided to highlight some of their blogs which I find interesting and thought-provoking. I realize time is a precious commodity, however, I encourage you to take a moment and spend some time on these sites.
The Franchise King– My main man Joel Libava. We share the same vocation as we both have a passion for franchising. Joel has been a very helpful resource for me as I’ve developed my franchise consulting practice. His posts are interesting, witty and thought provoking.
The Chris Voss Show.com
The Chris Voss Show – “The Chris Voss Show dot com.” Chris Voss is a free spirited entrepreneur and his video posts provided helpful information on topics like social media, business development and entrepreneurship. His primary focus on video provides insight into how he thinks. A true social media guru… his blog is about as REAL as it gets.
Follow the leader...
Ann Tran: A life with intention – Hard to not include Ann Tran’s blog. She’s one of the most genuine people I know and her blog is both well designed and written. Ann has a tremendous Twitter following. No doubt this is due to her kind spirit and dedication to spreading good energy.
The Organic View – If I have a question about organics I contact June Stoyer. June is the host of the theorganicview, a thought provoking program dedicated to educating people about all things organic. The show features a cadre of business owners, industry experts and professionals that provide helpful information on vast cross section of the organic industry.
All things organic...
All of these people truly represent what social networking is all about. Their blogs are informative, thought provoking and present a great example of how to make a difference. Take some time to read their content. Follow them on Twitter… You’ll be glad you did…
As some of you know, my company specializes in finding franchise opportunities for people who want to own their own business. It’s a fun and rewarding vocation, as I get to help people manage the transition process and create a strategy to make business ownership a reality. If you’re interested in learning more about franchise ownership feel free to visit my website… sorry about the plug J
A world of anticipation…
When people start looking for a business it’s common and normal to start by seeking info on specific franchises… How much is the investment? How do I get started? This is where our natural curiosity can lead
A pretty cool franchise concept...
to trouble… here’s why.
Avoid the mistake…
One thing I’ve noticed is people think they know the right franchise for them. The reality is they’re almost always wrong… and it’s usually because they start with the concept first, then back into reasons as to why it’s a good investment. Here’s an example of a client I recently worked with that explains what I’m talking about…
What’s the motivation?
I received an inquiry from a woman in New York who wanted to invest in a Pink Berry frozen yogurt franchise. She worked in technology consulting sales for the last 15 years. Her chief responsibility was to cultivate relationships and sell her company’s services. During our discussions it was quite clear she enjoyed her job and found it intellectual stimulating. She was well compensated and was having fun. Her hours were flexible the company was doing well… Despite her positive situation, she felt it was time to make a change. This begged the question “why”?
Don’t move just for the money…
Her reason was the money. She had gone to a Pink Berry liked the product, saw lots of customers and felt she could earn more money and that business ownership was a life long dream. The problem was her logic was a little flippant. She had no experience in the food service industry and more importantly didn’t provide a clear explanation as to why she needed to change. Here’s where people make mistakes… which can be very costly. Just because you want and can afford a new business doesn’t mean it’s the right decision. My client was focused on the “money” not the “reason”. Here are some questions we pondered?
Why do you want something new?
You like what you do? … Yes
You’re well compensated? … Yes
You’re happy? … Yes
Then why make a change? Silence…
And… more importantly… why a retail business? More silence…
You have to enjoy what you do…
There’s nothing wrong with a retail business. If the model works and you find a good location and you enjoy that type of business, you can be very successful. The problem was my client was thinking about making a change, yet didn’t really have a sound reason to change. In addition, she wasn’t thinking about whether she would actually enjoy owning a Pink Berry. Just because you like a product, doesn’t mean you want to own that franchise. Frankly I love Dunkin Donuts coffee, but the thought of waking up to “make the donuts” doesn’t get me too excited.
If you look at her profile, she was used to and enjoyed being out in the field and meeting new people. She liked to make things happen and go to where the action is. She was also used to coming up with creative technology solutions for multi-million dollar businesses. Does that sound like someone who would be happy waiting for a customer to buy a $7.00 yogurt?… absolutely not.
The problem was she was basing her logic that this business was right because it was popular and would make money. While in both instances, she probably would do well, she hadn’t considered whether she would enjoy working in retail, and more importantly, didn’t consider the “reason” for investing in a new business. In cases, if you’re happy in your current position and well compensated, there’s no reason to make a change.
The moral of the story…
In the end my client decided to stay on her current path. It was the best decision for her given her current situation. In my experience, and more often than not, I wind up talking people out of making a change. If your someone considering a switch, whether it’s to change jobs are go out on your own, consider your current situation. If you’re happy and can support your current lifestyle, it’s best to stay put. If the answer is “no”… well, that’s a discussion for another day…
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