Monthly Archives: February 2025

The Introverted (or Extroverted) Entrepreneur

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Are you an “innie or an outie?” And I’m not talking about belly buttons. Are you an introvert or an extrovert? Before you answer you should know that there are many common misconceptions about these terms. The famous Swiss psychiatrist, Carl Jung developed extensive research on this subject. In fact, Jung actually used the term “extravert” instead of “extrovert.” Over the years the word seemed to have morphed into the “extrovert” terminology we use today. So, when you hear these words, what do you think? An introvert is shy, and an extrovert is outgoing? As with many things, this is an oversimplification. Think about how we recharge our batteries. Do you find that you gain renewed energy from being alone in solitude or by being around other people? Technically, introverts seek renewal alone and extroverts recharge through interaction with others. But enough with the technicalities. Let’s explore introversion and extroversion in a more traditional sense.

How can introverts and extroverts survive and thrive with each other? How can an introvert succeed when many situations call for a high degree of sociability and gregariousness? And how do extroverts avoid coming across as a bull in a China shop in situations that need reflection and finesse?

I know a person who has a position that requires considerable interaction with others in a public setting. This individual makes outstanding presentations to large groups of people but struggles mightily with one-on-one interaction. I and others question his genuineness and authenticity because of this challenge with his personality. People see him as a masterful “performer” on stage but are frustrated because the “act” does not translate into personal charisma.

For those of us who might find it challenging to engage easily with others, here are some ideas. Step into it. Play offense instead of defense. We can put ourselves in situations where we have the opportunity for interaction. Maybe it is at a conference or a gathering of some sort. We find someone who is not already talking to others and go introduce ourselves. Be strong. The handshake is firm, and we make friendly eye contact. The person I mentioned in the preceding paragraph tends to either avoid eye contact or look over my shoulder. Smile. Always smile. It helps us to put ourselves and others at ease. Relax. Do not try too hard. We just need to be who we are – not someone else. And yes, we can be strong and relaxed at the same time. This actually projects confidence.

On the other end of the spectrum some of us may be somewhat supercharged with extroversion. In certain situations, this can be overwhelming to others and can come across in a high-pressure salesman manner. Of course, we do not want to be perceived this way. Many extroverts have a great deal of nervous energy and perhaps even a touch (or mega dose) of ADHD. This reflects in their speech patterns and mannerisms.

As extroverts we need to work to “dial it back” at times. Zip it. We may tend to dominate conversations. Instead, we need to make a concerted effort to create a dialogue where we make sure that others have a chance to express themselves. Chill. Somehow, we must resist the urge to outwardly manifest all the energy that is pent-up inside. Calm. We need to replace the pent-up energy with calmness. Do not worry; our charisma is so strong that we won’t be seen as a shrinking violet. Smile. A friendly smile is disarming and sends positive vibes to others. As extroverts we may tend to be too intense. Remembering to always smile will put others at ease.

Introverts and extroverts must make a mutual effort to co-exist and collaborate. When they succeed, they can do great things together.

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 Fulfillment-Focused Entrepreneur

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I don’t want our customers to be satisfied. Put another way, customer satisfaction is not our objective. I also don’t want our team members to be satisfied. There, I have said it. I will bet you are thinking that there is a punchline somewhere in all of this. And yes, there is. But let’s dig a bit deeper before getting to the bottom line.

When we serve others, we certainly want them to be satisfied – right? This seems like a perfectly rational objective because we all know what happens when a customer or team member is dissatisfied. So, when a customer (or team member) makes a request, we do our best to satisfy that request. We generally believe that when someone is satisfied, they are happy. Here is an interesting dilemma. Suppose we have done everything we can to satisfy our customer; they tell us they are happy, but then they quit anyway. What is up with that? 

One of our companies is involved in managing apartment properties for our own account and for third-party clients as well. I can remember several times over the past many years that a long-time client told us he was perfectly satisfied with our service, only to make a change and hire another firm. We were assured that we had done nothing wrong and other circumstances stimulated the change. In some cases, the client was consolidating the management of all his properties with a national property management firm. In another instance we were told that the client had a relationship with another company and though he was satisfied with our performance, he thought he might do better with the other firm. Naturally, there is a strong level of disappointment when we hear that someone is satisfied and yet they are still making a change. What in the world are we to do?

OK, here comes the punchline. Customer satisfaction is not enough. Team member satisfaction is not enough. Customers and team members leave even when they are completely satisfied. Attempting to achieve customer and team member satisfaction is a siren song that will lure us into the rocks and sink our ship. Instead, we need to focus on fulfillment. Fulfillment is a much higher state than satisfaction. It is a concept that is like exceeding expectations but is even more than that. Trust me – you will not get any help from the dictionary on this one. It says that to fulfill is to satisfy. I think the dictionary’s definition misses a very important nuance here.

Suppose an apartment resident calls and reports that her kitchen faucet is dripping. If our maintenance technician goes to her apartment and completes the repair, then he has satisfied her request. However, if he goes and fixes the faucet, and then checks several other physical elements in her apartment and fixes other items that he finds, then we are moving toward a level of fulfillment for the customer. Total fulfillment comes when there is nothing else a customer could possibly want or need, even if he or she has not articulated it. In other words, we have anticipated every possible scenario that could impact the customer, and we have taken all the steps we could to resolve unforeseen issues and create an over-the-top experience. This was what was missing when we lost a client who told us he was satisfied. We had not gone above and beyond to create the over-the-top experience that achieved total fulfillment.

Customers and team members leave or quit all the time when they are satisfied. Usually, it is because they are not aware of a better alternative. But when that better mousetrap is presented to them it is not hard to understand their motivation for making a change. Changing our focus from satisfaction to fulfillment increases the odds in our favor that we possess the better mousetrap.

Achieving fulfillment for our customers and team members requires a combination of commitment, innovation, understanding, vigilance, appreciation, and gratitude. Fulfillment is the best mousetrap in today’s highly competitive entrepreneurial environment.

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 Never Accept “NO” Entrepreneur

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Here is a fascinating subject for all entrepreneurs (and everyone else for that matter). It is the world of auto-antonyms with a focus on one particular word in the English language. What is an auto-antonym you ask? Don’t worry; you didn’t miss anything in school. Until I looked it up, I had no idea about auto-antonyms, sometimes called a contranym. Simple answer – it is a word that can mean the opposite of what it appears to mean. Now that the picture is completely confusing, let’s focus on the word . . . NO.

“No” seems like a simple word to understand – right? Not so fast. In my world “No” can actually mean “Yes.” Let me explain. Remember when we were kids, and we bugged our parents for something? Often the default answer was “No.” But we became conditioned to realize that “No” could be changed to “Yes.” I remember a trip to Disneyland in Anaheim, California when I was five years old. There was one particular ride that I wanted to try as soon as I hit the park. My parents – in unison – said, “No” (emphasis not added). They reasoned that I was too young. But I continued to harangue them throughout the day and wore them down to the point that before we left the park that afternoon, they finally said, “Yes.” In fact, I was too young for the ride and had no clue what to do – one of the attendants had to come and rescue me – but I was victorious in my quest to flip “No” to “Yes.” I guess that was the launch of my persuasive powers on the road to becoming an entrepreneur.

Too often, we hear “No” and accept it as gospel. We interpret the word as a form of rejection; feelings may be hurt, and we may become dejected and deflated. This next statement is very, very important. NO. DOES. NOT. ALWAYS. MEAN. NO. If we simply accept the word for what we think it means then it is Strike Three and game over. But if we see “No” as the starting point for getting to “Yes,” there is still a chance for extra innings. And who knows – we might win the game in the bottom of the 12th!

Entrepreneurs who hear “Yes” when they are told “No” are “No Flippers.” They understand that being told “No” just means that they need to become more persuasive and work harder to build their relationships. By doing so, they increase the odds of flipping the “No” answer to a “Yes” answer. When we are told “No,” we have a chance to zero-in and learn something. If we are helping someone buy our product or service, it is imperative that we find out why the other party has declined. By politely asking for feedback we might discover that a minor change in the product or service could result in a totally different outcome. Had we simply accepted the “No” answer, we might not have had the chance to make the tweak that led to a sale. Sometimes we are told “No” not because the other party does not like us or what we are offering, but the timing is not right for them. This is where relationship-building is critical. We remain in touch and work to serve the relationship in whatever ways possible while staying in front of the customer in a positive manner. But remember – there is a fine line between the obnoxious childish whining we did as kids to get our way and doing what it takes to be in the right place at the right time to serve our customers.

I can’t begin to count the number of times I’ve been told “No” whether it was in raising equity from investors to acquire properties; securing a loan for an acquisition; negotiating the purchase or sale of a property or trying to hire a particular individual to join our team. Maybe I am just thickheaded, but when I hear “No,” it is just a signal to step-up my game.

As entrepreneurs we need to become accomplished “No Flippers.” It may take a while and we will need to be creative, but eventually we will get someone to say “Yes.” Maybe it is the person we have been trying to convince all along, or perhaps it’s someone else. We use the knowledge we gain from hearing “No” to make the changes necessary to get to “Yes” and achieve 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.

The Slumping Entrepreneur

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In 1961 Major League Baseball’s Philadelphia Phillies suffered a 23-game losing streak. The 2013-14 NBA Philadelphia 76ers endured a 26-game losing streak. In 1976-77 the Tampa Bay Buccaneers had the longest losing streak in NFL history at 26 games. Dan Meyer played both in the infield and the outfield for the 1983 Oakland Athletics and captured the MLB record for hitless at-bats in 48 attempts by a non-pitcher. Talk about slumps! A quick check of the dictionary offers the following definition of slump – “a period during which a person performs slowly, inefficiently, or ineffectively, especially a period during which an athlete or team fails to play or score as well as usual.”

We have all watched sports teams at amateur and professional levels encounter slumps. Ditto for businesses. And we’ve undoubtedly experienced periods in our own lives where we perform slowly, inefficiently, or ineffectively. Feelings of hopelessness and victimization set in. Day after day we become more lethargic. It is harder and harder to get out of bed. We are defeated shortly after we arise. When things don’t turn out the way they should we say things like, “it figures – I just can’t win,” and an air of resignation sets in.

A slump is simply a state of mind. While I do not have scientific proof, I believe we enter a slump because of negative thinking. We are rocking along with everything going fine and something happens that has negative connotations. Maybe we were certain we were going to win a certain piece of business and then we don’t. Rather than shake it off and re-double our efforts with a positive attitude, we allow the loss to gnaw at us. It might be very subtle or even subconscious. But we let that little bit of negativity into our psyche and that, my friends, can be the beginning of a slump. That is why I am such a staunch advocate for maintaining a positive frame of mind 100% of the time. Positivity is the best armor against a slump. When something does not go right, we need to see it as an opportunity to get right back on the horse and ride again . . . without hesitation. The negative creep in our consciousness will kill us if we don’t.

Suppose that somehow, we find ourselves in a slump. How do we pull out of it? The same way we avoid falling into a slump in the first place. The first and most important step is to examine our attitude. Recognizing the negative thoughts and replacing them with positive ones is absolutely crucial. And we need to make sure we get every last one of them. Even a lingering doubt of any sort can be enough to keep the slump alive.

Once we return to a positive frame of mind, we can take some additional steps to ensure that we are back on track and the slump is behind us. Look for a small victory of some sort. No need to swing for the fences – just get a base hit. For example, we don’t need to immediately make that next big sale. Instead, simply make an appointment to meet with a prospective customer. Also, it is a good time to review the basics and fundamentals of whatever it is that you do. This becomes a necessary grounding exercise. A baseball player who is struggling at the plate will often focus on the mechanics of his hitting. Perhaps he finds that a very minor change in technique makes all the difference. With a completely positive mindset and solid basics and fundamentals working in concert, the final step is going to a place of gratitude. We have so much for which to be grateful and must intentionally create a thanksgiving inventory. Focusing on gratitude will close the circle and put us back in the winning mode again.

Slumps occur because we let in a tiny bit of negativity. We can quickly end a slump by regaining our positive attitude; by focusing on the basics and fundamentals of what we do, and by being thankful for all the good that is in our life.

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.