Monthly Archives: October 2018

The Trustworthy Entrepreneur

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Let’s give credit where credit is due. I recently listened to a podcast by Reid Hoffman– he was the co-founder of LinkedIn and an early board member at PayPal. Hoffman made a profound statement that goes like this. “Trust is consistency over time.” As entrepreneurs one of our biggest hurdles is creating trust – trust with our team, our investors, our bankers, our customers and our prospective customers. Without trust, we will flounder around and never gain traction. And trust is a very fragile thing. It takes a while to build trust, but it can be gone in an instant.

Consistency. We all know what it means. We also know how hard it is to achieve . . . consistently (pun intended). We trust McDonalds because every meal in every restaurant around the world maintains the same standard of quality. Forget whether or not we actually like the food – we know exactly what to expect. We trust products from Johnson & Johnson, General Mills, Netflix, Adidas and Dove because we know exactly what to expect. Our enterprise struggles when our standard of quality is inconsistent, which in turn degrades the trust our customers have for our product or service.

I’d like to take Reid Hoffman’s mantra one step further. Commitment + Accountability leads to Consistency. Commitment is where every member of our team agrees to perform at a level that is necessary to always deliver our product or service at the highest quality possible. It’s critical that we clearly define what this level of quality means. It must be broken down in exquisite detail. Training must be directed to ensuring that each team member fully understands the detail and how to execute on it. And then the team must practice, practice and practice some more until delivery of the product or service is standardized. The bottom line – we can’t commit to something if we don’t understand it or haven’t been shown how to do it.

Next comes the Accountability part of the equation, and here it gets trickier. Once every member of the team has agreed to delivering the expected level of quality for a product or service, how do we make sure that each person lives up to his end of the bargain? Part of our responsibility as an entrepreneurial leader is to develop some quality control systems and processes. This serves as a backstop for the customer to make certain that something substandard doesn’t leak out into the marketplace. Should we have to spend time and money to create this redundancy? Maybe not, but if we really care about the customer we have no choice but to do so. This also becomes a method of accountability. We’re able to spot deficiencies before it’s too late, and we can identify the weak links in our system. This allows us to get to the root of the problem. Is it an issue of training? Is it a misunderstanding? Does someone not have the proper tools or adequate resources? Is it the fact that someone on the team simply doesn’t give a damn about what they are doing? We can take steps to correct all of these obstacles which help to further tighten our commitment.

Our Commitment to deliver a standard level quality of product or service, and the accompanying Accountability gives us a fighting chance to reach the holy grail of Consistency. And it’s this consistency that will build Trust with everyone in our orbit. Team members learn to trust each other. Customers trust our product or service. Our investors and bankers trust us because we are doing what we say we are going to do.

We let our consistency do the talking for us. We’ve all seen marketing that includes phrases like, “most trusted,” “your honest car dealer,” “honest and trustworthy,” and on and on. I’ve always been wary of any business that needs to beat its chest about how honest and trustworthy it is. It somehow feels like they “protesteth” a bit too much. Perhaps they think they need to advertise this way because they don’t actually deliver consistency with their products and services.

Trust truly is consistency over time. And consistency is the product of commitment and accountability.

You can also listen to a weekly audio podcast of my blog. What you hear will be different than what you read in this blog. Subscribe on iTunes or wherever you get your podcasts. You can also click on this link – Click here to listen to Audio Episode 16 – A Punch in the Mouth.

This blog is being written in tandem with my book, “An Entrepreneur’s Words to Live By,” available on Amazon.com in paperback and Kindle (My Book), as well as being available in all of the other major eBook formats.

What Could Possibly Go Wrong?

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It seems like I’m on a roll these days with rants about customer service. And this one is a doozy. A few weeks ago my wife and I were flying to Las Vegas where I was to speak at a conference. We were supposed to fly from Kansas City to Phoenix and then to Vegas. It was a Sunday morning and when we arrived at Sky Harbor International Airport in Phoenix, the trouble began. Apparently some joker decided to leave a locked vehicle unattended at the curb outside one of the terminals. It wouldn’t surprise me if someone was late for a flight and didn’t have time to take the car to the off-site rental car return and simply dropped it at the curb and figured he’d deal with the flak later. Well flak there was.

As we got off the plane, we were told that the terminal was closed due to a “security issue.” Passengers were not allowed to move down the concourse with TSA and the Phoenix Police Department enforcing this edict. Shortly thereafter, we were quickly herded to an adjoining section of the terminal where even more passengers were gathered. The line of demarcation was just short of the restrooms and very quickly the scene turned ugly. People were chanting and a full-scale riot was minutes away. Fortunately, someone in authority decided that letting people go to the bathroom might be a good idea, so they began creating bathroom lines and allowed ten people at a time to step under the tape and head single-file to the restrooms – all the while under the watchful eye of those in “authority.” Finally, they allowed the mob to move deeper into the concourse where everyone had access to the restrooms.

This situation persisted for somewhere between three and four hours. And not once did law enforcement provide any information whatsoever. I was able to watch some video on my phone from a local television station that enabled me to understand what was happening. Eventually (I was told), the bomb squad decided they needed to blow something up, so they blew the trunk of the car and the passenger doors to find . . . nothing. I guess I can understand how cautious we need to be in this day and age. But it was absolutely inexcusable that everyone was kept in the dark through the entire ordeal. A public affairs representative for law enforcement should have provided updates every 15 minutes on the overhead PA system as well as on social media along with an estimated time for resolution. Phoenix PD and the TSA did nothing to help their image with this display of arrogance. It was equally inexcusable that the decision was made to cordon off the terminal at a point where the restrooms weren’t accessible. From a practical standpoint, we’re talking 30 or 40 feet – and eventually the decision was made to move the cordon anyway.

Of course a number of flights were cancelled including ours. I received a text message from the airline (I’d “love” to say which one but I won’t) informing me that our flight was cancelled and to click on a link to re-book . . . except the link didn’t work. So, shame on the airline. Eventually we made a standby flight to Los Angeles that took us on to Las Vegas. But of course our luggage was MIA. The one bright spot in all of this was a very delightful lady named Lori at the airline’s lost baggage department in Las Vegas who really cared about our situation and said she’d do everything she could to see that we got our bag ASAP. And later that evening our bag did arrive. Kudos to Lori! Unfortunately, this airline – which is supposedly known for its technological prowess – has still not deployed a bar coding system for baggage. Another major airline we fly sticks a bar code on our luggage and we can look at a phone app and know exactly where it is in the country at all times. So another pox on the airline we used that Sunday for not getting with the bar coding program.

Things can really go wrong for us as entrepreneurs and sometimes they do. We can learn from experiences like this and avoid the mistakes that others are making. Above all, continual, clear and honest communications is paramount as long as the train is off the rails. And it’s also important to make sure all systems and processes are working and that common sense prevails. If we do it right, we can actually score points with our customers as they weather the storm with us.

You can also listen to a weekly audio podcast of my blog. What you hear will be different than what you read in this blog. Subscribe on iTunes or wherever you get your podcasts. You can also click on this link – Click here to listen to Audio Episode 119 – Good or Bad Signals?

This blog is being written in tandem with my book, “An Entrepreneur’s Words to Live By,” available on Amazon.com in paperback and Kindle (My Book), as well as being available in all of the other major eBook formats.

Permanent Footprints in the Sand

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My mother used to cite an old saying, “you catch more flies with honey than with vinegar.” We entrepreneurs should heed Mom’s advice. One of the most challenging aspects of building a business is interacting with our team members. There are people who are extremely committed and dedicated. Others are sleepwalking through the day for the sole purpose of collecting a paycheck. And there are many more who are somewhere in between.

As frustrating as it may be at times, I’ve come to realize that the “honey” approach is definitely the most productive. Helping build people up is much more gratifying and yields far better results, than tearing them down. Let’s focus for just a moment on the notion of “tearing them down.” It’s obvious that a boss who yells, screams and belittles his employees is “tearing them down.” But there are also other behaviors that fall into this category even though they are less apparent. For example, triangulating about another person can be just as destructive as making derogatory remarks to their face. Triangulation in this context, means talking with someone in a negative manner about another person. This does nothing to advance the cause and can likely get back to the person who is the subject of the conversation. Another example is actually an act of omission. This is where we know someone could perform better if we offered our assistance, but we decline to do so. Finally, the entrepreneur who is constantly critical about everything someone does is certainly not building them up.

The central premise for how we go about building others up is really quite simple. We think about how we would want to be treated and then do so for the other person. As long as we keep this foundational element front and center, we will be well on our way to being a positive force in the development of our team. Often this will require keeping our emotions in check. When things go off the rails do we automatically look for someone to blame? Or do we take a deep breath and look for the opportunity to coach? An added benefit is something else I’ve discovered. When members of the team don’t have to live in fear of making a mistake, they are much more likely to own it when they make one and much more inclined to share bad news in a timely and truthful manner.

Somewhere I read that we should offer five compliments for every one criticism. I’m not sure of the scientific basis for this ratio, but the intent makes sense. People always value feedback – especially when it’s positive. My middle school grandson is a case in point. All children at this stage of life tend to be insecure. I spend a great deal of time praising him for his accomplishments and encouraging him when he fails. Rather than be critical of his shortcomings I ask him how he might do something differently the next time. I make sure he knows that I believe in him and know that he can accomplish whatever he sets out to do. I’ve watched as he’s become more and more confident as he gets older.

The concept is no different with our adult team members. The more of a positive approach we take, the more likely we are to realize the right kind of results. This is particularly true with Millennial team members. We’ve found that Millennials place a high value on coaching and mentoring. This is a clear signal that the command and control managerial style of the past does not work for them. They are looking for a collaborative relationship with their teammates as well as their managers. And what a terrific opportunity this is for us to learn how to work on our “build them up” skills.

“Building them up,” means asking permission to offer constructive suggestions. It means making recommendations rather than issuing orders. It means explaining the bigger picture when assigning a project and it means making certain that the team member understands what value his or her participation brings to the overall effort. Accusations are out. Clear and direct communications are in. Brutal honesty is out and warm candor is in. Celebrating success and constantly expressing gratitude are definitely in.

When we look for ways to build others up our lives are enriched and our enterprises will thrive. This is perhaps the greatest gift we can give to others and will leave permanent footprints in the sand that represent the time we spend walking this planet.

You can also listen to a weekly audio podcast of my blog. What you hear will be different than what you read in this blog. Subscribe on iTunes or wherever you get your podcasts. You can also click on this link – Click here to listen to Audio Episode 118 – Celebrate Good Times.

This blog is being written in tandem with my book, “An Entrepreneur’s Words to Live By,” available on Amazon.com in paperback and Kindle (My Book), as well as being available in all of the other major eBook formats.

The Joyful Entrepreneur

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When you think about entrepreneurs what comes to mind? I’m betting that it’s something different for just about everyone. Some will visualize rugged individuals with a pioneering spirit while others will see highly driven and extremely creative people. To how many of us did the word “joy” come to mind?

Entrepreneurship isn’t all about 100-hour weeks and one sacrifice after another. It doesn’t have to only be about struggling to find the right value proposition or meeting the next payroll. Entrepreneurship can also be a truly joyful experience. After all of the “grind it out” moments we endure, it’s good to remind ourselves of the fact that there is much to be positive, optimistic and grateful about in our entrepreneurial existence.

Our joy is derived not necessarily from the financial rewards we eventually realize. After all, the dollars are simply a measure for keeping score. No, the joy comes from our leadership and coaching that enables younger or newer colleagues to blossom into confident and productive contributors – both professionally and personally. The joy comes from our ability to stop for a moment in the midst of chaos; assess a situation; identify a problem and then solve it. Great joy comes from creating a product or service for which the marketplace responds enthusiastically and perhaps a difference is made in the lives of many.

Joy is always there but sometimes (maybe often) we forget to look for it. We become so wrapped up in strategy and tactics that we miss that bright shiny apple that is there for the picking. Why does this happen? Why can we be so obsessively serious at times? Perhaps we’ve bought into the meme that entrepreneurship is going to be a difficult marathon. We’ve heard that we need thick skin and a ton of resilience to have any hope of succeeding. And thus we become conditioned to slugging it out and expecting the journey to be tough. Of course there’s some element of truth to this, but if we intentionally also look for the joy in what we do, guess what? We’ll find it!!

We can re-program ourselves to seek and find true joy every single day. It doesn’t take much effort to allow moments of jubilation and glee to permeate our being. That spark of imagination can also transform into an explosion of joy when we allow for it. Winning the competition for a new client can be reason for feelings of exuberance – if we give permission for such feelings to come forth. Those smashingly positive reviews on social media can be realized as a triumphant moment when we become immersed in their afterglow. There’s a common thread to all of this. We must be active participants in pulling the lever that opens the gate whereby joy is invited into our lives. It is after all, our choice.

I know many entrepreneurs who lead joyless lives. I look at their businesses and see all sorts of potential for joyful moments. Yet, these entrepreneurs are so focused on their KPIs or squeezing out one more nickel of efficiency that they are oblivious to how much a celebration of joy could mean to themselves and to their entire organizations. Joy is a mindset and it is critical to the culture we want to create.

Here’s a simple exercise. Get up early some morning and find a quiet place where you can watch the sun rise. Feel the warmth on your face. Watch the changing color of the sky in all its exquisite glory. Do you get a tingle up your spine as a wave of splendor washes over you? If not, were you a real participant in this moment? Or were other thoughts creeping into your consciousness? Perhaps you remembered something you absolutely must do today. Or a nagging worry that caused some tossing and turning during the night emerges once again from its hiding place. I love watching the sun peek over the horizon and I never fail to enjoy an endorphin rush while experiencing this spectacle. Finding joy throughout each day in everything we do is an identical process.

Happy and well-adjusted entrepreneurs realize that there are massive gold nuggets of joy just below the surface of their daily lives. They also understand that they can walk over these gold nuggets without even knowing they are there. Or they can choose to find them with very little effort. I hope that you decide to begin finding your gold nuggets of unlimited joy.

You can also listen to a weekly audio podcast of my blog. What you hear will be different than what you read in this blog. Subscribe on iTunes or wherever you get your podcasts. You can also click on this link – Click here to listen to Audio Episode 117 – Little Steps to Sweet Success.

This blog is being written in tandem with my book, “An Entrepreneur’s Words to Live By,” available on Amazon.com in paperback and Kindle (My Book), as well as being available in all of the other major eBook formats.