May 18 2012

Is money the most important resource in growing a business?

Randy Joy @ 11:00 am

 

Money is not the most important resource in running your business.  Money allows you latitude to make mistakes until you figure out the right path.  The longer you stay in business, the more likely you are to move toward your vision.

The most important resource is wisdom.  That is a team of people guiding you away from lingering business issues and mistakes.  This team includes your employees, partners, investors,  mentors, and professionals.  Being open to advice is key to fast growth.

I was told by one of my investor colleagues of an incredibly quick-study entrepreneuer who was shopping around for funding.  At one point, he met a would-be investor and made his pitch.   The investor declined, saying that the business was not ready to be funded for five reasons.  The investor also gave the golden nugget advice of how to solve each one of those five issues.

A year later, the man had a meeting with the same investor.  The investor was curious why, this quickly, he was being pitched agian.  The entrepreneur shocked the investor by saying that in the past year he performed every solution the investor recommended.  On the spot, the investor agreed  to substantially fund the entrepreneur.

An open entrepreneur willing to learn and grow is rare.  The single most important resource you have is your willingness to acquire wisdom to grow exponentially.

Tags: , , , ,


Apr 24 2012

Trackwork to Success

The Editor @ 9:06 am

 

I remember sitting in heated traffic 10 years ago while the AirTran at Kennedy Airport was being started, where what was being built was one tall supporting pillar at a time. Train riding along that expanse of space – it seemed that would never happen.  Many years later, I had the opportunity to ride the train for the first time.  Ever so smooth and fast…with the agony, cost, and time spent all forgotten.  Those who didn’t witness the construction assume these tracks have been around at all times and cannot imagine what life had been like before those pillars, the tracks and eventually the train got put into place.

The same thing happens when building a great company.

Many years of putting down a new foundation can be agony, cost and time, but will reap benefits.  Keep your eye on the prize at the end.
 
Here is how:
1.  Focus on the end vision
2. Read the vision weekly
3. Ensure all decisions and money spent are aligned with the vision
4. See each roadblock as an opportunity to leap closer to your vision
5. Look for opportunities to move things forward
6. Learn new ways to tunnel faster to your vision
 
Don’t get bogged down with how hard today’s work is — rather, look forward to the success destination.

Tags: , , , , ,


Mar 28 2012

How to Create Excellence in your Business

Randy Joy @ 9:49 am

In an article about Tiger Woods featured in The Wall Street Journal, the author of a new book about this great golfer wrote  ”the constant need to improve and achieve is in his lifeblood.”  That is Tiger Woods’ secret to excellence, the need to improve.

To prepare for a great game Mr. Woods is known to rehearse his swing for 4 1/2 hours in front of a mirror.  This commitment to excellence by preparing for a great game is similar to myself preparing for a big speech or prepping a client for a major company change.  It can be the same for you, as CEO, preparing and rehearsing how your business will improve and expand.

Every misstep or failure is an opportunity for Tiger Woods to learn and improve.  Each swing that didn’t get the ball to where he wanted it is revised and new swing motions put into place.

In your business, every setback should have you heading to put new “swing” motions into place.

When excellence is concerned, the constant urge to improve is the key to success.

Tags: , , , , , ,


Mar 15 2012

The Result of Change

Randy Joy @ 10:00 am

This weekend the handle on my big white deep freezer fell off.  Actually, it was falling off for a while like a child’s tooth just waiting to rip off from its base.  Then finally the handle fell off completely and instead of being disappointed for the change, I actually smiled.  Once I cleaned up the area it looked so much better without the handle.  The handle’s purpose wasn’t there anymore for a long while,  but I had ignored it and left it dangling uselessly.  Now it was gone, and so much the better, for if it didn’t serve a purpose.

The same is true in your business.  At times things change and you end up not dealing with it.  You have that employee who isn’t pulling his or her weight.  Then comes the final change, the employee quits.   You might  smile and marvel out how that miraculous event cleaned up a mess faster than you would have dealt with it.

And then, I questioned myself.  Why didn’t I remove the handle before it finally fell off with clang?  Or, better yet, try to secure it in place before it was so completely disattached from the freezer body?

There are leaders who lead and constantly bring on change and as they grow some employees do not grow with there companies.  There are also some leaders that constantly brace themselves and try not to change because it feels too risky.  Like me, they see the dangling handle and look the other way.  They feel it is too hard to fire people, and so they leave hanging ends all over the place.

I prefer to seek out change and steer my own company because then I choose the long term destination.  The next time you notice something that is not aligned or secured properly to your company vision, deal with it right away.  If it can be fixed, so much the better.  And, if not, no need to have loose ends waiting to unravel on its own.  Deal with it right away.

Tags: , , , ,


Feb 17 2012

The Dance Sequence of Leadership

Randy Joy @ 1:00 pm

 

Business leaders take your cue from fashion models.  Lead, then step back and let someone step forward.  The natural flow of movement is one of stepping back to allow steps forward, and stepping forward when those we lead step back.

 

Tags: , ,


Feb 08 2012

How to Visualize it Done

Randy Joy @ 9:00 am

 

The best emails I get in my business consulting company are those with one word-DONE.  How many times have you waited painfully for someone to complete a task for you?

Next time you ask someone to perform a task, visualize getting an email the next day saying done.  Now that you are dreaming of having it done, make sure that vision comes to fruition.

How?  State your expectations and train those around you to just get it done by being unambiguous about it.  It is always good to be clear about what you expect, in what shape and form and by when you want it done.

Enjoy seeing results now.

And return the courtesy — when you’ve completed something, email back “done” .


Feb 01 2012

3 Keys to Create Business Order out of Chaos

Randy Joy @ 4:00 pm

 

1-Know what order looks like.

2-Accept where your business is today and become more and more consciously aware of what needs to change.

3- Create a  strategy to move one small step closer to order and voraciously implement it daily.

Tags: , , ,


Jan 24 2012

4 Things a Business Consultant Can See

Randy Joy @ 10:00 pm

 

1-Perception of your business, just by walking in the door.

2-Your value system, just by how she is greeted and how people interact.

3-The heiracherial structure based on where people are seated.

4-CEOs purpose based on what they speak mostly about.

Tags: , , ,


Jan 20 2012

5 Goals of an Energetic Business Presentation

Randy Joy @ 10:30 am

 

 

 

 

 

 

 

Have you ever been to a business presentation that put you to sleep?  Where the presenter read from the slides?  Here are the 5 steps to give an energetic presentation that keeps your audience’s attention and interest and leads to a next step:

1. A story to engage your audience

2. An overview of what you intend to share with them with 3 key points

3.  Visual slides to support and dramatize your speech

4.  Gifts you are giving the audience for listening to you

5. A call to action – the next step you want your audience to take

 

 

Tags: , , , , , ,


Jan 18 2012

4 Keys To Making Good Business Decisions

Randy Joy @ 10:00 am

 

CEOs and executives have a lot of responsibilities.  Knowing how these responsibilities fit in the big picture is crucial to make business decisions and prioritize your time.

 

 

 

Therefore the 4 table of contents for any task are these:

1. Purpose – Why is this important?

2. Vision – Where do I want this business decision to lead me>

3. Strategy – How am I going to get to my vision?

4. Commitment – Am I committed to work and empower my team to get there?

 

 

Tags: , , ,


Next Page »