C-Suite Network™

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Growth Leadership Personal Development

The 7 Cornerstones of Leadership

What does it take to lead effectively? “Leader” is such a broad term that encompasses so many traits—it’s difficult to answer with just one requirement. Then you have different meanings of leadership. Are we talking about political leaders, thought leaders, or band leaders?

For those of us who teach entrepreneurial culture and entrepreneurship, leadership means taking a business concept from idea to profit. In other words, it means to create a business and become a target for acquisition—setting a great example for your team along the way.

Here’s our short list of what it takes to be a good leader:

1. Be sensitive.

The ability to see opportunities before they come. The ability to see the effects of your actions beyond the present. And the ability to think up a solution to any problem, looking for answers. A leader recognizes the limits of their own skills and allows others to take charge and solve marketing and technical problems. They are humble enough to be open to others’ opinions who might have more experience in certain areas.

2. Be innovative.

The ability to examine a problem and come up with a solution. The willingness to try out your solution in the real world and start from scratch if necessary. A great leader knows that innovation doesn’t stop at the product—it continues to work through all challenges necessary to get the product to the market and keep it there.

3. Be tenacious.

The willingness to keep going even when the solution costs twice as much and takes twice as long. The wisdom to surround yourself with optimism, with people who believe in their solutions—giving them the encouragement to stick to it. A leader must also validate, recognize, and encourage their own people to keep going and improve. They must give clear direction and set standards for improvement. This way, everyone on their team thinks that progress is being made.

4. Be empathetic.

The ability to seek and understand what different people want in different relationships, whether it’s with customers, vendors, or employees. The ability to understand and satisfy each level of customer between them and their end-user. A good leader communicates others’ needs to their people in a way that they can relate to. Leaders focus on how satisfying their customers make sales happen.

5. Hustle!

The ability to quickly seize an opportunity. The willingness to seek and hire only those who hustle. A leader must have a sense of urgency to meet their customers’ deadlines as well as their own. They must have a sharp sense of priority in order to complete the tasks that must be finished first.

6. Be decisive.

The ability to not only make a decision but to also make a difficult decision. The ability to see that it’s more beneficial to make a decision on time with 50% of the data than to miss an important opportunity by waiting for 100%. With this skill comes the ability to admit making the wrong decision in order to learn from it. A good leader must give their people permission to make a mistake, as long as the mistake ends up improving the company’s policies and procedures—forever!

7. Share.

The willingness to share the wealth. The ability to find strategic allies who will profit from their success. And the desire to reach equity- and profit-sharing agreement with crucial teammates to secure their long-term buy-in, motivating them to make necessary sacrifices to find success. Leaders also share their obstacles with others, respecting their advice and encouraging them to participate in the problem-solving process.

There have been hundreds of books written on this, but from our real-world business experience and from working with other like-minded entrepreneurs, we’ve learned that these are the essentials!

Leaders lead. Everywhere. They lead their own people and they lead the market. Some people put leaders on a pedestal and glorify them. It isn’t easy being a leader. It comes with delayed gratification, anxiety, and just plain fatigue. Some of us may only remember those leaders who have succeeded. But every leader has failed in order to find success. They each have doubts and must bite the bullet. But thanks to all the leaders out there, we have a high standard of living, great jobs, and a certain level of security. Leaders can take a business from idea to profit. And they set an excellent example for anyone who follows them.

For more, read on: http://c-suitenetworkadvisors.com/advisor/michael-houlihan-and-bonnie-harvey/

Categories
Best Practices Growth Personal Development

7 Rules That Will Make Your Emails Rule

Is your mailbox full? Ours sure is—every day! Do you read each and every email? We don’t. Because there are simply too many! Most messages are spam, and as a result, we miss quite a few important things. We’re sure you’ve discovered a few quick scanning methods, like looking for senders you recognize, subject lines that sound familiar, and replies to your latest email chains.

In a business world driven by email, how do you write effective messages that will actually be read? We don’t mean marketing emails either. There are far too many courses and books on that subject. (And frankly, we wish they’d stop.) But how can you write effective correspondence that will sort through the distraction, confusion, and noise in your recipients’ inbox?

We’ve used email since the days of “You’ve got mail!” And here’s what we have learned:

  1. Protect the Subject

Create a subject line that’s easy for you and your recipients to spot among the crowd. Make sure it’s pertinent to the topic and no more than three words in length. If the sender has looped in to another email to start a new conversation, change the subject to reflect the new topic. Change it back if the subject shifts again. Your recipient will appreciate the consistency.

  1. Keep the String Going

Once in a while, your recipient might send a reply message from a different mailbox. This could possibly change the subject line and the sender’s name. And more importantly, this can disturb the ongoing trail of emails on the same subject. If this happens, find the trail on the previously used email address, and paste it into the bottom of your response. This way, both of you will able to see the conversation’s path more clearly.

  1. Who’s Watching?

One of the biggest mistakes we’ve all made before is to “reply all” when we didn’t intend to. Double-check who’s CC’d on the message before you hit Send. A new recipient could’ve been added or someone else could’ve been removed. This is especially important when emailing larger organizations. They’re trained to move CCs around depending on who they want on the message. Sometimes letting their boss go from the chain removes a bit of pressure.

  1. Get On Your Phone!

If there’s a disagreement, misunderstanding, or miscommunication via email, pick up your phone and figure it out verbally. You’ll be surprised at what can be done during a personal and friendly phone call instead of a contentious and lifeless email. And NEVER fight through email. It’s emotionally draining, time-consuming, and both sides feel like they have to get the final word in. A lot of these arguments can be solved in just five minutes on the phone.

  1. Obtaining the Evidence

Email memorializes everything that has been said. Unless you want it to come back at you later, keep conversations away from email and on the phone instead, or even better, in person. But for this same reason, email is a great way to document what was agreed upon. We like to discuss verbally, whether on the phone or at a meeting, and then summarize the points, action items, or consensus in a memo that lets others know, “This is our understanding of what we’ve agreed to. If you have any additions, corrections, or comments, please respond by tomorrow at 5pm or we will assume that this is our understanding.”

  1. Only One Thing

Have you noticed that when you send someone an email with a few instructions or tasks, only the last one is acknowledged or completed? People only remember the highway entrance ramp, and the highway exit ramp. Everything else is all meshed together. So, keep things simple! Ask for one thing per email. If you have several requests, create a separate email chain for each, or even better, send a new email each time they complete a request. This way, you can keep it all on the same trail.

  1. Keep Things Friendly

Say something nice about your recipient in the message’s first line and the PS, and sandwich your message right in between. Break paragraphs up into two or three-sentence smaller paragraphs. If they can see the end, they’ll more likely read it. Let them know you’re open to a phone call if clarification is needed. And don’t forget to thank them for their completion or previous response. If their boss is CC’d, you should note how effective they are, even if they really aren’t. They’ll be more likely to live up to a compliment that makes them look good in front of their bosses. Once your business with them is finished, be sure to thank them publicly, with their boss copied on the message. They will both look forward to working with you again!

We could go on forever about email best practices and etiquette, but these are the general rules of thumb that will make your emails “rule!”

For more, read on: http://c-suitenetworkadvisors.com/advisor/michael-houlihan-and-bonnie-harvey/

Categories
Best Practices Growth Leadership Personal Development

5 Strategies for More Effective Meetings

As we approach the new fiscal year, you can bet there are a lot of meetings in your near future. But the question remains, “Are those meetings necessary and effective?” If the answer is “no,” you’re about to spend a lot of effort, money, and time taking people away from their work so they can socialize and entertain one another—on your dime!

Think we’re exaggerating? Add up every attendee’s hourly rate. Multiple that by the length of each meeting. Next, add in prep costs, and you get a very costly proposition. Yes, some meetings are necessary. They can be useful to ensure everyone’s on the same page. And many meetings are unavoidable, especially when stakeholder buy-ins are involved.

We’ve held and attended thousands of meetings over the years. We paid for most of them, so we were sincerely interested in keeping these meetings effective, short, and action-oriented. Watching meetings digress and degenerate taught us many different lessons. We learned meeting best practices firsthand from colleagues and our own hard knocks.

Here’s our simple list that’ll help you how to get the most out of the shortest and fewest meetings possible.

Agenda

If you’re running the meeting, make sure to create an agenda in advance. Make sure each talking point has a time limit. Be wary of attendees who try to discuss items that aren’t on your agenda. Kindly recommend a separate conversation about their issue and then get back on topic. Don’t forget that the point of your meeting is discussion, education, and making decisions. Keep the conversations on track.

Purpose

Make sure you establish ground rules right from the start of your meeting. Identify the meeting’s goals, what you expect to accomplish, the decisions you expect to make, which member(s) will head the meeting, and last but not least, how long the meeting will be. Your purpose needs to be communicated in all related correspondence, and it should be in the final statement of the actual meeting itself.

Calendar

The most effective meetings are action-focused. This action must be completed by a certain date. Make sure everyone at the meeting can see the same calendar, so all lead times and deadlines are visible. The best attendees take notes right on their own calendars because they know they’ll need to block out some time to make an appointment with themselves and assess their responsibility. Calendars are an excellent way to get meeting members to focus on your agenda—you can also ask them to commit to a date to talk about their off-agenda topics.

Scribe

Choose someone to take notes and keep track of time. Instruct them to interrupt the meeting to remind everyone how much time is left and how they’re doing so far. For example, in a one-hour meeting, we think it’s smart to let everyone know when there are 15 minutes left. This helps teammates think about decisions, deadlines, and action plans. Simply put—it’s time to wrap things up! Right after the meeting, the scribe organizes the notes, assignees, action items, and deadlines, and sends them to each attendee.

Action Items

During the final few minutes of a one-hour meeting, ask the scribe to go over the action items, their assignees, and deadlines. Once each assignee hears their corresponding action item being read aloud, they’ll be more likely to complete those items on time. Keep an eye on progress moving forward through an online platform that can be used to update status, educate others, and collect feedback and input from each attendee.

Another, simpler money and time-saving method is to simply have fewer meetings. Look for common culprits that occur throughout many of your meetings. Try to have a meeting only for the action-oriented tasks explained above. It’s too costly to have meetings out of habit. Keep your team focused on being productive. Don’t give them room to complain, “Oh no! Not another meeting!”

For more, read on: http://c-suitenetworkadvisors.com/advisor/michael-houlihan-and-bonnie-harvey/

Categories
Best Practices Growth Personal Development

Casting About vs. Fishing Where There’s Fish

One of the toughest obstacles that entrepreneurs face is much more difficult than coming up with a good idea—it’s choosing which good idea to focus on. You want to avoid putting all your eggs in one basket, and you also don’t want to be so frazzled that you aren’t able to devote the right amount of energy to the one idea that will bring you the most success.

This hurdle is especially confounding as we approach the new fiscal year. We are determined to make changes. We want to stop beating a dead horse. And we want to find and identify alternatives. Many books have been written about how entrepreneurs get distracted by “shiny objects” right as they’re on the edge of success. If only they’d been a little more focused… But no. They were completely distracted.

Somewhere between beating a dead horse and shiny objects lies the answer. Is the horse actually dead? Is there something within those shiny objects that can save him?

Many entrepreneurs are just finishing the fiscal year, dedicated to their main project, while entertaining new possibilities at the same time. As we begin the new fiscal year, we should take a page out of the ancient Japanese craftsman’s book. At the end of each year, they thoroughly clean their shop. This shows respect for their workspace and gives them a chance to mentally and physically sort things through.

Take Inventory

Looking at inventory allows you to learn what sold and what didn’t. This task alone seems obvious, but many entrepreneurs keep on moving without taking a minute to actually understand what worked! Anything left in the inventory are slow movers and un-sold products. These are now taking up precious physical and mental space. It’s a good time to think about how much energy you’ve exerted into your slow-moving products. In the new fiscal year, you’ll need that space—mentally and physically!

Clean Up

Look at everything. Decide whether you want to hold on to each thing, change it, or just get rid of it. When you think about each initiative you’ve sought after this past year, the ones that fell through don’t have to be considered a total loss. What lessons have you learned from each experience? And how can they help you as you pursue your main priority?

One important approach is to reorganize. Think about your nonproducing, “failed” initiatives, and incorporate them into the initiatives that proved successful for you. Have you acquired new contacts, referrals, or skills that will benefit you in the coming year? Organize these. Make a list to acknowledge them. Then you’ll know you’ve gotten the most out of those “shiny objects”.

 Refocus

Focus on your true customer this coming year by using the experiences of last year. These customers might be different than those you’ve pursued previously. Like a fisherman casting his line looking for a bite, it’s time to pull in your line, check your bait, and move your boat toward the action.

There’s a market for what you’ve sold this past year. Move closer by addressing that market more efficiently. How did last year’s customers learn about your goods or services? How can you make those channels better? Learn to recognize each opportunity to utilize any new skills you’ve learned over this past year.

When it comes to your main pursuit, has the market changed? How can you tweak your presentation and products to be more compelling and relevant than ever? Chat with your customers.

We understand that fiscal years are just simple measures of passing time. But a year also represents a period of work that you can learn from, once you take the time to analyze inventory, clean up, and refocus. So while everyone else is feeling motivated to surge in new directions, maybe you can imitate those Japanese craftsmen, using analysis, reflection, and redirection.

Here’s to your new fiscal year, one made even better by the last!

For more, read on: http://c-suitenetworkadvisors.com/advisor/michael-houlihan-and-bonnie-harvey/

Categories
Growth Personal Development

The 5 Traits We Seek in New Clients

We operate as advisors to help businesses monetize brand equity. Or, in other words, we help a select group of businesses build and sell, after having that same experience ourselves. But how do we choose each client? What traits do we look for?

We look for qualities that we think are crucial in order for these businesses to achieve successful acquisition. many entrepreneurs want to be paid for their innovation. There are a lot of legal services available that are way too happy to sell them trademarks, copyrights, and patents. They’ll even put licensing agreements together and give an introduction! But we’ve learned from experience, in order to make the most on your concept, wrap it inside a product, wrap that product inside a business, wrap that business inside a brand, and then build that brand to the point that it attracts an acquirer

It takes a lot of distressingly hard work and will take longer than you think. The sales cycle alone could be more than your budget can handle. But if you’ve got what it takes, you can do it! And what does it take? Aside from great cash flow management, effective personnel management, persistence, and excellent distribution management, it takes a certain type of company.

We know we can’t help everyone. But everyone we help must succeed. Our reputation is dependent on it. How do we assess our risk ahead of time? How can we tell when a business can and will benefit from our assistance? Here are the traits we look for in our new clients.

Scalability

Is the business scalable? Is their product, application, or serviceable to be duplicated and achieve increasing sales? Is their product widely marketable, mass-producible, and codifiable? Does it solve a previously unaddressed issue or satisfy a market-wide necessity? Have they set themselves apart with a product that doesn’t have much competition?

Coachability

Simply put—are they able to be coached? Will they accept our advice? Will they truly listen, and apply what they’ve learned? Do they want to do what’s necessary even if it’s something they didn’t plan for? Do they respect our experience as a whole? Are they willing to put in long hours and personal sacrifices? And last but certainly not least, are they responsible for both their own actions and those of their business?

Auto-Pilot

Is their business able to operate without them, now or in the future? Are they willing to delegate tasks? Do they understand what they’re good at and what they aren’t? And are they able to admit it? Do they ever consider replacing themselves? Do they take note of everything, including policies, checklists, procedures, job descriptions, and signoff sheets? When they make a mistake, does it teach them a lesson? Do they tweak their documentation to make a reoccurrence less likely to happen?

Seasoning

Do they have any other business experience? Are they experienced in their own market or with their own product? Do they have a positive cash flow yet, or have they broken even? Do they have any reliable customers? Do they understand the changes their product might need in order to be more acceptable?

Acquirability

Are they in business in order to eventually sell? Are they familiar with the top 5 potential acquirers in their field? Do they understand the size they need to be in order to gain an acquirer’s interest? Have they looked into the necessary metrics to achieve before they’d be considered by an acquirer? Will they ever be able to part with their business? Do they want to sell their business in a few years, even if it takes ten? Will they make the necessary steps to gain the attention of an acquirer?

If the business has something that benefits their industry or makes the world a better place, if they can say “yes” to most of these questions above, and if we have chemistry, then we can make a huge difference. We can save them a whole lot of time and money, and we can relieve their fears of the unknown. We want to use our years of experience to help others succeed more quickly!

For more, read on: http://c-suitenetworkadvisors.com/advisor/michael-houlihan-and-bonnie-harvey/

 

 

Categories
Entrepreneurship Personal Development

Confirmation: Much More Than Just a Courtesy

Today, Silicon Valley is Main Street Disneyland for worldwide technopreneurship. All of the top universities that teach entrepreneurship highly respect Silicon Valley. They want their students to immerse themselves in the wonderful world of Facebook, Google, Stanford University, and all those other techie destinations, if only for a couple weeks or so.

Many international students study engineering—they have a highly technical education. This relatively narrow focus is applauded in the fairytale land of VCs, burn rates, startups, and unicorns. But what could we offer these students that will set them on the right path toward entrepreneurial success?

We don’t have a technological background. We aren’t even VCs. We have a handful of clients that use complicated software and high-tech products, but we are far from their technical advisors. We are, however, their business advisors. We guide them to make better business decisions. We help them stay on track toward their ultimate goals. It’s what we have the most experience in.

So, when we thought about these international tech students in Silicon Valley, we figured out that the best thing we could do was to share a different set of skills that they need in order to find success—these are soft skills. Usually, they aren’t taught at technical schools. And they typically aren’t shared by the idolized VCs who got rich off of their technology alone.

Soft skills can expand your terms and credit, reduce turnover rates, and transform your customers into brand advocates.

One of our most popular talks, in fact, is “How Soft Skills Earn Hard Cash.” During this talk, we discuss how soft skills can benefit your 3 key business relationships: Employees, Vendors, and Customers. We encourage empathy—putting yourself in someone else’s shoes—as the skill that lays the groundwork for all others to follow.

Here’s an example. A soft skill that seems to be fading away these days is simply acknowledging and confirming. Let’s talk about Bill, a recent Engineering graduate. He just received funding for his tech startup business.

When Bill is asked to execute a project or to do some research, he doesn’t let the requestor know that he received the request. He doesn’t let them know when he’ll be finished, and he doesn’t let them know in advance if there will be a delay.

By not confirming, Bill thinks that, whether he gets to the assignment or not, he is forcing the requesting party to reach out to him to see if he completed it or abandoned it. This could take some pressure off Bill, but it looks bad for his business, no matter how tech-savvy he might be.

Many people who aren’t trained in soft skills will go on to complete the assignment but not confirm. That way, if they happen to prioritize something else instead, they figure it’s OK since they haven’t committed. Plus, the requesting party might forget about it altogether. But if they do complete the project and don’t report, they can say, “Oh yea, that project, I completed it last week.” It’s almost like they think status reporting and confirmation aren’t necessary because others should know they can count on them—“Just trust me!”

But this work style causes anxiety for the requesting party and ultimately hurts their relationship with Bill.

Now the client, vendor, or employees are much less likely to consider Bill for special situations because they think he’s unresponsive and unreliable.

Bill better hurry up and get more financing from the VC (and give up more equity, too). This is because he will have to pay top dollar for everything, have limited or zero credit, and he’ll have a higher turnover rate.

Bill’s techie startup could take a nosedive, just because he missed the chance to build trusting relationships with people he relied on. An effortless soft skill, like timely status reporting and confirmation, develops the type of trust that can cut business costs. And this is but one of the many crucial soft skills that could help any business thrive.

And as far of the Silicon Valley tech-campus tour is concerned, we take them on a tour of the wine country and redwood forests after they’re finished seeing all the glass, concrete, steel, and conference rooms. We share our tried-and-true lessons that prove soft skills can earn hard cash. Want to join us?

For more, read on: http://c-suitenetworkadvisors.com/advisor/michael-houlihan-and-bonnie-harvey/

Categories
Biography and History Growth Personal Development

Immigrants Built the U.S. Economy

John Francis Houlihan, Michael’s grandfather, came to the U.S. from Ireland in the late 1800s at just 19 years old. The only trip he could book was to New York, on an ocean steamer loaded up with cattle. All the immigrants were required to make the trip above deck, fully exposed to the harsh North Atlantic weather. It was windy and cold, and the immigrants would huddle against the smokestacks at night to keep warm. It was a grueling trip. But it was on that trip that John met Michael’s grandmother, Nellie, who was also a teenager, and they were soon in love.

When they finally arrived at Ellis Island, they were kept in prison-like housing until they were able to prove that they could provide gainful careers. In those days, correspondence took forever, so they stayed imprisoned for many months. Eventually, John heard that he was offered a job cleaning the Sutro Stable, the San Francisco Police Department’s horse stables. John knew horses, but didn’t leave until a job was also secured for Nellie. She was offered a job as a washerwoman in a San Francisco boarding house.

When they arrived in San Francisco, they came face-to-face with prejudice and open hostility toward Irish immigrants because they would take low wages for lowly jobs. And, they were seen as un-American “papists” because of their Catholicism that originated from the Pope.

They were able to scrape up enough money in the years that followed to make a down payment on their own boarding house. After diligently studying the constitution and becoming naturalized citizens, they earned their American right to vote. John was able to work his way up in the stable and became Head Horseman. And Nellie provided cleaning services for transients and managed room rentals.

Unexpectedly, an 8.6 magnitude earthquake and ensuing fire demolished San Francisco in 1906. The Sutro Stable went up in flames, taking all of the horses’ lives except the mayor’s prized Percheron horses. Despite all the confusion and tragedy, John put his life on the line to save the horses. The mayor asked how he could possibly thank him, to which John replied, “Make me a beat cop in the Irish ghetto,” which was the Mission District. It was where John and Nellie called home.

John in fact did serve as a beat cop, where he would walk the streets of the Mission District for four decades. He kept the peace, fought crime, helped during times of need, and served the citizens. He witnessed the reconstruction of San Francisco. He was at the Panama Pacific Exhibition in 1915. The Palace of Fine Arts is the only building remaining from the World Fair that showed the rest of the world that San Francisco was open for business.

John witnessed World War I and saw the flood of Italian immigrants that traveled to the Mission right after. He saw average Americans being forced by Prohibition to break the law. He witnessed the Great Depression, Prohibition’s repeal, and WWII. He saw countless waves of immigrants move into the Mission and work their way toward a better life, just like he did.

During all of that, John and Nellie had three children, two of which died during childbirth. The surviving child, John Charles Houlihan and Michael’s father, was a public servant. He worked alongside others to create containerized shipping. This revolutionized the shipping industry, and reduced shrinkage (or pilfering by dockworkers). Containers could now be locked. This feature alone cut worldwide commerce costs significantly. Container ports were popping up all around the world in the 1970s and ‘80s. Shipping became safe, reliable, and efficient. This means of shipping became the world standard.

American Immigrants Do Not Take Citizenship for Granted

Michael spent his childhood summers with his Irish grandpa, who constantly spoke of the great opportunity America offered him to get ahead. He assured Michael that hard work would pay off in the US. He praised the advantages of American citizenship and was deeply thankful for his chance to get ahead until the very day that he died.

John and his son returned the favor to the country in many different ways, but their lives and their work have improved the lives of many Americans. Think about all the jobs that containerized shipping has created and all the jobs created by Barefoot Wine.

Immigrants are the economy’s backbone. They are the reason why America is “Great”. With open arms, let’s welcome those immigrants who want to work and show their gratitude for the chance to improve their lives. In order to earn the right to vote and become citizens, they must learn about the divisions of government, the right to vote, and why these laws exist, as well as the checks and balances they provide the country.

Americans who are born here don’t have this requirement. They can vote without all of that knowledge, and they can choose to not vote at all. Usually, immigrants don’t take their citizenship for granted. They are eager to understand our government, and they are eager to vote.

Let’s think more about the value of immigrants. Let’s all take the time and effort to vote! Democracy certainly isn’t something that immigrants take for granted. So why should any of us?

For more, read on: http://c-suitenetworkadvisors.com/advisor/michael-houlihan-and-bonnie-harvey/

Categories
Best Practices Growth Personal Development

Relying on Technology Stifles Our Cognitive Ability

Before we had smartphones attached to our hands, we were forced to use our heads to solve problems. In order to find a solution, we had to give our undivided attention to a lecture, presentation, or written instructions. Our brains actually needed to function!

We had to analyze and extract the principles behind examples attained from real-life experiences, teachers, and textbooks. Since we knew we couldn’t possibly remember each and every example, we had to retain the principles so we could apply them to relevant situations in the future. We’d need to reflect on that list of principles to learn how they could be applied to a brand-new problem. These principles would be used like tools—they’d be adjusted to solve problems and overcome obstacles that we experienced.

Constant Access at Our Fingertips

But why go through the trouble of remembering and recalling if you could have instant access to any example on YouTube or Google? So much for doing all the work yourself. RIP MacGyver!

A few of our friends have thousands of books on their e-readers. We ask them, “Why do you have all those books when you know you will never read them?” They respond, “Just having them makes me feel like I have sort of read them. I have access to them and that’s a step closer to reading them!” So much for feeling responsible to read the books you bought.

It’s peculiar that so many people are worried about robots taking their jobs when they already think their “job” is simply to find examples, and copy & paste. That doesn’t require any human problem solving. Just oversimplify an issue, copy a tried-and-true solution, and apply a one-size-fits-all “answer”. Don’t robots do that already?

You might just ask, “Like what? Like what? Like what?” instead of solving the challenge using principles, you demand an exact example you can cut and paste. If only somebody, like your boss, could just tell you. It’s so easy to not have to figure it all out yourself! It’s so much easier to not need to recall things! And why even bother when it’s all attached to your hand?

That’s just the problem, isn’t it? Tech-native people are born with a crutch—one that can threaten their memory and cognitive ability. The areas of the brain we depended on are being utilized less and less often. As we become more reliant on technology, we depend less on our own brains.

Learning from Stories

Marilyn Barefoot, our company namesake and friend, wrote a well-researched and compelling piece on this very subject. She warns how reliance on technology can make us more easily distracted, hurt our attention span, reduce our social interaction, and, to put it bluntly, get us addicted.

Marilyn is an expert when it comes to brainstorming and stories as a method of learning. In another one of her posts, “Your Brain on Stories”, she looks at how research has actually measured those areas of our brains that are activated and chemically rewarded when we listen to stories. It’s captivating! And it gives us hope.

When people listen to stories, they learn. When you create a scene from what’s in your mind, you pull the moods, colors, and props from your own memory and imagination. Then you attach this creation to the story. Since you participate in the story’s reception, you’re invested in it. Now you’re more likely to reflect upon the story’s demonstrated principles right when you need them.

Learning Empirically Through a Business Audiobook

This is the type of learning experience we’re going for in our Audio Theater Business Book. We took The Barefoot Spirit, our NYT Bestseller, and had it theatrically reenacted for you, not just read to you. It’s a collection of short stories where professional actors play out each character. We’ve also added sound effects and an original music score. Our goal is to engage your imagination in a real-life adventure that entertains, and demonstrates business principles that have withstood the test of time. That way they will be ready for you to recall and apply to your business and your own life.

We think dramatic business storytelling might just be what you need to step away from the technical crutch at your fingertips. It’s an effective way to stay entertained while using your brain!

For more, read on: http://c-suitenetworkadvisors.com/advisor/michael-houlihan-and-bonnie-harvey/

Categories
Personal Development Sales

Is Your CPG Business on the Wrong Side of History?

Since we created a popular consumer packaged goods brand, now recognized around the world, we’re asked a lot of questions about packaging. People want to know, “What are the new trends?” and “What’s the latest in packaging?” The “P” in CPG does stand for “package” after all.

In The Graduate, a movie released in 1967, a college graduate hears some advice from his father’s friend: “I’ve got one word for you, Benjamin. Plastics.” If we were to give advice to today’s college grads, we would add the word “alternatives,” making the greatest advice we could give, “plastic alternatives.”

Today’s market

“World wildlife populations have fallen by 60 percent in just over four decades,” according to the World Wildlife Fund.

The same report states, “In 1960, 5 percent of seabirds had plastics in their stomachs. Now that number is up to 90 percent.”

Wildlife isn’t just nice to look at. We’ve finally learned that it is essential for both the economy and our own health. Tanya Steele of the WWF states, “We are the first generation to know we are destroying our planet, and the last generation that can do anything about it.”

With more and more reports like this being released, video footage showing plastic in the stomachs of seabirds and fish, and a huge social media conversation on the subject, is it still possible for CPG brands to continually whistle past the graveyard?

Before this starts to sound “political” or like some tree-hugging lamentation, let’s look at the advantages of favoring biodegradable packaging over single-use plastics. This is all about getting in front of a huge trend instead of being the last one to hop on board, or to miss it altogether. Any CPG brand that announces they are no longer contributing to the ecosystem’s collapse will have the upper hand in an increasingly information-savvy marketplace.

As consumers get younger and younger, with more life ahead of them, a larger percentage will be affected by environmental ruin. They are starting to favor brands that use environmentally conscious packaging. They vote with their purchase decisions, fighting against environmental damage.

Instead of just copying competitors that deliver products with single-use plastic to gain a cost advantage, companies that use alternative packaging materials can set themselves apart, giving themselves a halo and creating a base of loyal advocates in the process.

The Ellen MacArthur Foundation warned us that, by 2050, there will be more plastic waste in the ocean than fish (2016). Instead of ignoring the elephant in the room, which in this case is filling our waters with single-use plastic, CPG trailblazers have the chance to educate their customer base, attracting more customers in the process.

So why not put yourself on the right side of history and lead the next big thing—plastic alternatives?

Risky business

 When we started the Barefoot Wine brand, we couldn’t afford advertising, so we made sure to support issues that were important to us. Early on, we made the risky decision to support the League’s Keep Tahoe Blue campaign to save Lake Tahoe. This was seen as a radical attempt at the time, hurting jobs, halting the economy, and being bent on stopping lake development.

But as time continued on, the lake’s preservation ultimately boosted property values and the economy overall! Our position on this issue was initially met with protests by realtors and developers, but our early support eventually helped provide the education that would change people’s minds. This created a solid customer base for us.

We were also early supporters of the Save Mono Lake movement by the Mono Lake Committee. Again, we were scolded for taking a stance on a “political” issue. But, once the Los Angeles metro discovered efficient toilet systems, the lake was saved and we were seen as heroes in the marketplace.

In both of these scenarios, we were on the right side of history. Our sales escalated and we gained loyal customers. Today’s early adopters of alternative packaging will be on the right side of history, too. They will set themselves far apart from their competitors. And the extra sales can’t hurt, right? Do yourself and your business a favor and take the high road—all the way to the bank!

For more, read on: http://c-suitenetworkadvisors.com/advisor/michael-houlihan-and-bonnie-harvey/

Categories
Best Practices Growth Skills

Solve Business Problems with What You Already Have

Recently, we had the pleasure of speaking to the Aalto Fellows, some of the top students from Finland’s Aalto University. We spoke to them at Stanford University for their entrepreneurial tour in Silicon Valley. We were most impressed that this group was organized and funded by the students themselves! What a great way to get a sample of real entrepreneurship!

By the time we spoke to them, they had already heard a bunch of entrepreneurial stories from the best of the best Silicon Valley has to offer. They heard from a lot of the entrepreneurial academics about what it takes. We also knew that the VCs who “created” the Valley spoke to them about what they look for in their own prospective projects. So what could we tell them that was different, fresh, memorable, and practical?

Most companies they had visited were successful VC-funded “unicorns”. They were given tons of resources and assets from the very beginning. They had to give quite a bit of their equity in the beginning, of course. And nobody ever talks about the 19 failures for every 1 unicorn.

Is it really possible to pull up your business by the bootstraps when you’re under-financed? Is there a way to learn how to solve challenges without copious resources? We think so. This is what we had to do, and it’s what most startups can benefit by.

When you’re undercapitalized and running out of runway, you’re forced to get creative and resourceful. You must learn quickly how to work with creditors in such a way that they’ll extend your terms, rather than putting you on a cash basis.

Sure, anyone can be resourceful. Use a door as a desk and a laundry room for an office, just like we did. Yes, you could trade for goods and services, and hire your family to help, like we did. This only goes so far, though. Eventually, you’ll need help with finances in some way. As for us, we found that help in three crucial relationships.

  1. Our Vendors

We evaluated our accounts payable, and we quickly realized that the glass company had the most at stake in our business. The more products we sold, the more bottles they sold us. Yes, that’s right; the more they’d sell, the more money they’d make! They were naturally a strategically, but only if we could convince them to trust us.

We decided we would meet with them on a quarterly basis to discuss our challenges and future plans. We were empathetic about their concern that we wouldn’t pay them in a timely fashion. When our cash flow predicted that our payment would be late, we let them know way ahead of time. We came up with a payment plan that would make our account current, and we always followed through!

Then, they were more comfortable extending terms. This allowed us to expand nationwide without needing to raise extra money. This is a perfect example of how to use soft skills to earn hard cash!

  1. Our Employees

 We depended on our employees to innovate, problem-solve, and stay loyal and excited about our company. Instead of putting them on a need-to-know basis, we put them on a know-the-need basis. We thought they won’t be able to help us if they don’t know what our needs are!

At one point, we had a serious issue. The good news: We got into a huge Florida chain store. The bad news: Like all new products, we were put on the bottom shelf, where nobody looks. The scary news: If we couldn’t go through 100 cases in 90 days, the chain would kick us out—FOREVER!

An employee of ours joked around and said, “Well, we’re ‘Barefoot’, we’ll just go after the foot traffic!” We all laughed. But then another employee chimed in, “Wait a minute, that’s not such a crazy idea, why don’t we just put decal footprints down the wine aisle and turn them into our position on the bottom shelf?” We went on to use those footprints all over the US. And it was our receptionist who came up with the idea!

  1. Our Buyers

 Distributors and retailers were the buyers in our business. The retailers wouldn’t buy unless their customers bought, and the distributors wouldn’t buy unless the retailers bought. Many VC-financed businesses put a huge sum of money into advertising to bring customers to retailers.

But we didn’t have any money for advertising. We were terrified at first that our product wouldn’t be able to move fast enough for the retailers, because nobody knew about our brand.  Then, we got a phone call from a community group looking for donations for a playground. Since we didn’t have any money, we gave them our wine in hopes they’d possibly use it at their fundraiser to loosen up some pockets, or maybe they could auction it off. We were surprised to see our sales take off in their neighborhood.

We tried the same thing in another area. It worked! We tried it in a whole other city. It worked! And it worked extremely well. So well that we took Barefoot nationwide without ever using commercial advertising. Because we were empathetic toward our customers, they had a social reason to choose our products.

Conclusion:

These strategies might not work for everybody. Every company is unique. But there’s a golden thread that is woven through each of these examples, and it’s applicable to any business. It could reduce your need for extra funds. It can empower and inspire your people, reducing turnover rates. And it can bring you the customer base you need to get a positive cash flow and more. Empathy is that gold thread. The more often you use it, the less financial help you’ll need.

We are thrilled to announce that our forthcoming audiobook is soon to be released, on this exact subject.

  • Unlike most business books that discuss companies with a lot of resources, our book will focus on the true beginning of the Barefoot brand—a real testimony to resourcefulness and empathy.
  • Unlike most business books that give list after list textbook style to tell you what to do, what not to do, and the 5 things your customer wants from you, our book will include a series of stories created to inform and entertain.
  • Unlike most business books that feature a monotonous narrator, the characters in our book will be voiced by real actors, bringing each story to life as you listen.

If this book sounds fun for you, check it out at www.barefootaudiobook.com.

For more, read on: http://c-suitenetworkadvisors.com/advisor/michael-houlihan-and-bonnie-harvey/