| I've got good news and bad news. The good | | | | |
| news is that 98% of businesses are small | | | | Conversation with you should not be a |
| businesses. That bodes well for the | | | | spectator sport for others. Remember that |
| entrepreneurial spirit that has made our | | | | there's a huge difference between listening |
| nation great. The bad news is that from 60% | | | | and merely waiting for your turn to talk. You |
| to 80% of new businesses will fail in their | | | | hired your employees and perhaps a consultant |
| first five years. | | | | because you assumed they had brains, so let |
| | | | them use them. Ask questions and listen to |
| After years of building my own companies and | | | | answers. |
| consulting growing businesses, I've come to | | | | |
| the realization that too many business owners | | | | JUST ANOTHER PRODUCT: |
| can't see their business through an objective | | | | |
| eye, which often leads to their demise. It | | | | Realize that even though you think that your |
| takes an incredible amount of intense drive, | | | | new product or service is the greatest thing |
| determination and a strong ego to breathe | | | | since the flip-top beer can, the world just |
| life into a business and create products from | | | | sees one more product and must be convinced. |
| scratch, but it's also that same ego that | | | | You created this product and you know every |
| won't let a business owner be objective about | | | | function of it, but customers do not buy |
| what their business needs to succeed. The | | | | functions, they buy only benefits. Whether |
| business is up and running at light-speed and | | | | your product is a high tech internet service |
| management doesn't have the time or | | | | or office furniture, you must show how it is |
| willingness to stand back and take a real | | | | uniquely beneficial to your customer. |
| look at what they have created. They are too | | | | Functionality makes your products work, |
| close to the problems to see them. Just like | | | | Benefits make them sell. |
| a proud parent, they have spent sweat and | | | | |
| time creating this "baby," and they refuse to | | | | PAPER WEIGHT: |
| believe that it might be less than perfect. | | | | |
| | | | If you have the high tech inventive skills to |
| I call this the "business parent trap." It is | | | | create a product, chances are that you don't |
| in this trap that business owners often | | | | have the skills to market and sell it. Many |
| create and introduce products that would not | | | | small business owners think that marketing |
| test out in the marketplace. There's an | | | | and sales are the simplest part of their |
| attitude of "Hey, it's gotta be great because | | | | business, so it is almost an afterthought. |
| I thought of it." | | | | There is only one reason that inferior |
| | | | products outsell better ones; and that is |
| I've found that there are usually two basic | | | | successful marketing. Think of your marketing |
| things wrong with a business: the product | | | | plan as the complete story book that sells |
| (the Baby) and the management (the Breath). | | | | your product. If your story book is a best |
| | | | seller, then your product will be a best |
| So how do you assess your business? Are your | | | | seller. Without the right story that will |
| employees going to tell you that you're | | | | build sales and distribution, your wonderful |
| headed in the wrong direction? Not likely. | | | | product is just another paper weight that is |
| Occasionally a consultant will be brought in | | | | headed for a land fill. |
| to review the company's performance in a | | | | |
| given area. Unfortunately, when management | | | | STAND BACK: |
| does bring in a consultant, they often are | | | | |
| really looking for affirmation - not | | | | Your competitors are not all stupid. Guess |
| straight-forward constructive criticism. | | | | what? They think their babies are cute too, |
| Sadly, some consultants are more than willing | | | | and they may tell better stories that make |
| to "affirm for a fee." | | | | them look even better than yours. So stand |
| | | | back and look at yourself and your baby and |
| If you're going to succeed, then someone | | | | try to look through the eyes of a |
| needs to tell you if your baby's ugly or | | | | disinterested party, because believe it or |
| you've got bad (corporate) breath. So here | | | | not, the world is a disinterested party. |
| are some blunt yet truthful thoughts for your | | | | |
| business, and perhaps you: | | | | Remember, there's a strong chance that you |
| | | | will not be in business in 5 years. As busy |
| GET OVER YOURSELF: | | | | as you are, and successful as you think you |
| | | | are, you must set your ego aside and realize |
| Know yourself, trust yourself,believe in | | | | that there are things beyond your control. |
| yourself...then Get Over Yourself. You're | | | | The secret to success doesn't lie in knowing |
| really not the smartest person in the world. | | | | everything; it lies in knowing what you don't |
| You built the business and know it better | | | | know, and finding those who do. |
| than anyone else, but no one else really | | | | |
| cares how much you know. | | | | I wish each of you good luck and great |
| | | | success! |
| SPECTATOR SPORT: | | | | |