Category: entrepreneurship

Are you offering others promises of what you can do, or proof?

Winning new business is exciting. It means you convinced a customer or client to take a chance on you. (Like ABBA said.) But at this point, you are selling the promise of what you can do for them. Because in the beginning, the promise is all you’ve got.

The best moment in business is when a customer or client comes back for the second helping. Because this time it is not because of a promise you made them. It is because of the proof you gave them. (It’s in the pudding.)

The first transaction is based on your promise. The second is based on your proof.

The first engagement is based on hope. The second engagement is based on expectations met. Businesses live and die based on met expectations. Which is why repeat business is so important. It is the lag indicator that you are offering value and a positive experience.

If you track just one measurement on your way to success it should be repeat purchases. It is the pass-fail measure of long-term success. Because without repeat purchasers, you will run out of new prospects. And your business will be all grind, and no bump.

Recent History

Last week I had two great repeat experiences.

First, The Weaponry, the advertising and idea agency I lead, got a call from one of our first-time clients. We were almost done building a website for this client, and they called to tell us they want us to take on another website build for another division of their business.

Second, we had our first creative presentation to another new client. At the end of the presentation, The Boss Man told us he wanted us to work with their procurement team to get set up as an official, long-term supplier. Boom!

These second projects came because we lived up to expectations. We passed an important test. We weren’t one and done, like a University of Kentucky freshman basketball player. Which means we are running a sustainable business.

A Personal Note

The same principle holds true in your personal life. You get a first shot at relationships, opportunities, and trust based on the promise of delivering the goods. The second shot comes because you proved you were worthy the first time. Keep delivering and good things just keep coming your way.

Key Takeaway

Winning new business is simply an opportunity to prove what you can do. It is where the hard work begins. Make sure to deliver on the promises you made to that first-time customer. Because when you do, they’ll come back for more. And businesses only thrive if happy customers keep coming back for more.

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To grow your business you have to find great customers yourself.

I get a boatload of emails, calls, and LinkedIn requests from strangers who are trying to sell to me. Most of them want to help me generate more business leads for The Weaponry, an advertising and idea agency that I lead.

It is crazy how many people want to help me with this. It is as if they all looked at my demographic information alone and want to sell me a hair growth tonic. But if you knew me, or ever looked at my LinkedIn profile pic, you would know I may have problems, but growing hair is not one of them.

The sales promises are often quantified. They say they will deliver hundreds or thousands of qualified leads per month. To the uninitiated, unsuccessful, lazy or naive this must sound amazing.

But business growth and development doesn’t work that way. Qualified leads and prospects are not a commodity. You can’t outsource them to a stranger. The type of clients or customers you want to work with are not like crops in a field. You can’t simply run a harvester through them, load them into a wagon and sell them on the open market.

Prospective customers and clients are not all created equal. The valuable ones come from relationships, connections, and conversations. From shared philosophies and values. You and your team should find the right ones for you. Then earn their trust. Develop a mutual attraction. And decide you are right for each other.

For a stranger to spam* me and tell me that they can find me a steady supply of qualified leads is like telling me that they can find me more friends. ‘We’ll dump a list of friends on you. You’ll really like them and they will like you too.’ But it doesn’t work that way. That’s a job we have to do ourselves.

*No offense to Spam, the innovative meat. If a stranger offered me some fried Spam for breakfast we would be friends for life.

Key Takeaway

Earn your own customers and clients. Create systems and processes to find them. Develop relationships. Keep your promises. Deliver results. Create a core of happy customers that spread the word about you. That never fails.

*If you know someone who could benefit from this message, please share it with them.

The important thing to remember about desserts, and life.

Early this week I had dinner with an entrepreneur in Saint Paul. He’s a real go-getter. He fills his time with major initiatives that over time will lead to remarkable results. He is hyper-ambitious, hyper-hardworking, hyper-productive. Which makes me feel like I am not trying very hard at life.

My guy has been working on a new startup. The Weaponry, my advertising and idea agency, has been helping him with marketing, packaging, design, and all the other things a startup needs to look like a well-established business. #theygrowupsofast

The Dessert

The product is an interesting and novel dessert. (Remember, 2 S’s means a sweet treat, not a dry sandy place.) I asked him how things were going. He shared that almost everything was going well. Suppliers, facilities, equipment, funding, prospects, and strategy were all in place. There was just one challenge. The product was just ok.

To be clear, he started with a great product. But they have been experimenting to find the perfect combination of price, shelf-life, and manufacturing process. It’s the type of stuff that makes a viable business product less fun than the ideal product you would make for yourself.

Other people who were with us who had tried the latest version of the product were supportive and said that they liked it, and shared that other people had liked it too. My guy shook off the support and noted that they had recently performed taste-test research, and the results were just ok. Because like Shakira’s hips, tastebuds don’t lie.

Not Good Enough

The great problem is that when you are creating desserts, okay doesn’t cut it. Desserts have to be worth the splurge. The taste has to be worth the cost. And the experience has to be worth the calories.

A just-okay dessert is a failure. Like 38 Special, it won’t get a second chance. It has to rate as good at a minimum. Ratings of great, amazing, indulgent, to-die-for, and better-than-sex mean you have a winner.

Key Takeaway

Unless you are trying to be the low-price option, evaluate your products and services as if they were desserts. Good is the starting point. Don’t expect any repeat business or happy customers until you get to great or better. Make your offering worth the money. It’s the only way to make the work you put in worth it.

*If you know someone who could benefit from this message, please share it with them.

Every day you can find an excuse not to do the work.

Entrepreneurship is no joke. I started my own advertising and idea agency called The Weaponry in 2016. The business requires a great deal of effort to maintain and grow. It’s not for the weak of heart, weak of mind or weak of alarm clock.

At the same time I started my business I also started writing this blog. I wanted to share my experience and learnings with others. Now I publish a new post 3 days per week. Every day except Saturday I get up at 6 am to write. On Saturdays I sleep in until 6:30 am. I’m like the ‘Time-To-Make-The-Donuts’ man. Except consuming a lot of what I’m making won’t give you diabetes.

However, almost every day I can find an excuse not to do the things I need to do to grow my business or write my blog. I can always, always find excuses not to get up and put in the work to improve our product, processes and people. I can find excuses not to write, polish, and publish the next post. But Like Forrest Gump kept on run-ning, I keep wor-king, and wri-ting.

Excuses are everywhere. And they can get you out of anything hard. In fact, excuses can make your life easier. Much easier.

Excuses are like A-holes, Taylor. Everybody’s got one.

-Sgt. O’Neill from Platoon

But every time you grab one of those excuses you are robbing yourself. You are robbing from all that you are capable of doing and becoming. You are robbing from your life’s work. You are robbing from your own personal legend. You are robbing money from your own pocket. You are robbing from your belief in yourself that you are accountable, reliable and resilient. That you are determined, focused and driven.

An excuse is like Superman’s Kryptonite. The excuse itself weakens you. It zaps you of your superpower. It makes you a very ordinary human. Which means you are Clark-Kenty. Not the super version of you that you really want to be.

Don’t touch the excuses. They only appear to be permission slips that let you sleep in, knock off early, put in half-effort, or not work at all. But they kill your momentum. They kill progress. And they sabotage your success. (Listen all y’all it’s a sabotage!)

At the end of your days, when your obituary is written and your eulogy is read, they won’t mention all the excuses you had for not doing more. They will only talk about what you did, who you were, what you accomplished and the impact you had on other people. Remember that the next time you consider grabbing an excuse.

Key Takeaway

Don’t accept the excuses life offers. Do what you are supposed to do to live into your vision for yourself. Let others take the excuses. And separate yourself from them. That alone is the difference maker. Both successful people and unsuccessful people know what they should do. The successful people actually do what they are supposed to do to make their dreams come true. Everyone else makes excuses.

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To achieve great things don’t let preparing turn into procrastinating.

We all have big things we want to do. Goals, dreams, and aspirations are easy to find. Just ask any waiter in Hollywood. What is harder to find is goals met, dreams realized and aspirations achieved.

You can spend a lot of time thinking about the great things you want to do. You can talk about your plans. You can write them down and sketch them out. You can listen to podcasts and read newsletters and books. You can go to seminars, workshops, and meet-ups. And all of those things will feel like progress

But Oklahoma sooner than later, planning and preparing simply turn into procrastination. Because there are only ever 3 things that matter in the achievement process.

The 3-Step Achievement Process

  1. Where you are now.
  2. Where you want to finish.
  3. What you need to do next.

You already know where you are. (You do know where you are, right?) So once you know where you want to finish you have to quickly move your focus to what you need to next. That is the entire planning process.

The rest is doing.

  • If you want to start your own business, you should be working on your product or service, or finding customers.
  • If you want to write a book, movie, or play, sit down and start writing. (Unless you have a standing desk.)
  • If you want to become an investor in real estate or business, freaking buy something.
  • If you want to be an entertainer, start entertaining people.
  • If you want to travel the world, go somewhere you haven’t been.
  • If you want to be a nude model, lose the turtleneck sweater.

Key Takeaway

The difference between dreamers and doers is action. Once you know what you want to accomplish find the next step forward and take it. Once you start moving the next step always reveals itself. Gobble up those next actions like Pac-Man eats dots. Then keep going until you have cleared the board and you are ready for the next level. That’s what achievers do. And you will achieve by taking action.

*If you know someone who could benefit from this message, please share it with them.

The best-known cure for business worry.

Businesses are complex machines. They have lots of moving parts. They need constant attention. They are challenging to maintain, and even more difficult to grow. Which means that if you own or lead a business there are always plenty of reason to grow gray hairs.

6 Things For Business Leaders To Worry About.

  1. Are you growing your business? Businesses are either growing or shrinking. And no one likes shrinkage.
  2. Do you have the people you need? Businesses are simply a group of people running a group of systems. Having the right people is everything.
  3. Are your people delivering what they need to deliver? Even the best people don’t always perform the best without the right direction.
  4. Are your products and services good enough? Are the things you deliver superior? Competitive? Still functional?
  5. Are you heading in the right direction? Industries and opportunities are fluid and constantly changing. Are you moving towards the next great opportunity? Or are you trying to rent people VHS tapes in a Netflix world?
  6. Are you going to be sunk by a global pandemic? Or do you have a plan and reserves to outlast it?

The Cure For Worry

Just as vaccinations stop viruses, antidotes combat poisons, and clothing cures nudity, there is a surefire cure to business worry.

Work.

The best way to combat anything that threatens your business is to get to work.

Work on your business development efforts to make sure you are growing.

Work on your recruiting, training and development to makes sure you have the right people in the right seats on the bus.

Work on your processes to make sure you continuously improve what you deliver and how you deliver it. Especially if you are a stork.

Work on product development and service refinement to dial into what the market wants next and is willing to pay a premium for.

Work on your strategy and plan to make sure you are ready to take advantage of the next great opportunities. And make sure you are protecting your business against the negative impact of external factors.

Key Takeaway

The best cure for worry is to do something to avoid, minimize or fix the problem that concerns you. By putting in the work you take control of a situation, instead of letting it take control of you.

*If you know someone that could benefit from this message, please share it with them.

Make bigger bets on yourself.

Investing is like betting with really good odds. The best investments happen when you know something the rest of the world doesn’t. Just ask Martha Stewart.

But the best odds of all come when you invest in yourself. Because when you invest in yourself, the odds are stacked in your favor. And you do all the stacking. Because you have complete control over yourself. Like Janet Jackson.

The Decider

You decide how much work you put in. You decide not to quit, give up, or cut corners. You force yourself to make things turn out right. You put yourself first. You decide not to embezzle from yourself. You also decide not to bedazzle yourself.

The Safe Bet

Betting on yourself is always the safe choice. Because you have control over the outcome. Better yet, you know the outcome you are looking for. (And the income you are looking for too.)

You are your own best resource. You are your own most reliable asset. Put all your eggs in your own basket. And then protects the basket as if it is your only job in life. Because it is.

More Biggie. Less Smalls.

Too often our bets on ourselves are too small. So think bigger. Go bigger. Because there is no better bet. Plus, the bigger the bet you make on yourself the more pressure you put on yourself to grow.

Spend more time investing in your education and self-improvement. Invest in a coach. And in resources that you can utilize to achieve more. Read. Network. Learn. Listen. You will discover how much more you are capable of if only you pushed yourself to do what you are capable of doing.

Key Takeaway

The safest bet you will ever make is on yourself. You control the odds, the effort and the outcome. It is a completely legal form of insider trading. So bet big on yourself. Push yourself. Tip the odds in your favor. And other people will line up to bet on you too.

*If you know someone who could benefit from this message, please share it with them.

What keeps me up at night.

I usually sleep very well at night. I think it has to do with expending a lot of energy during the day. I kick off significant human wattage between the rooster’s crow and the cricket’s chirp. As a result, when my head paperweights the pillow I am quickly in La La Land, like Ryan Gosling and Emma Stone.

But last night I was up in the middle of the night for a couple of hours. I finally got out of bed and went down to my office to put some thoughts on paper. And in the dark and quiet hours of the barely-morning, I thought about other times when this happens. And I asked myself the proverbial/literal question:

‘What keeps me up at night?’

-Me

The Answer:

As The Most Interesting Man in The World might say, ‘I am not always up at night. But when I am, it is because of excitement!’

It is almost always because I am too excited to sleep. I get The-Night-Before- Christmas syndrome. Or I-Just-Spent-The-Day-At-The-Amusement-Park syndrome. The excitement of the day, or the days, months and years to come turn my machines back on like Randolph Duke demanded at the end of Trading Places.

Big and fun thoughts, plans, and possibilities are like crack. Or at least like a really great late-night infomercial that I can’t turn off. Pursuing creative ideas in the middle of the night makes me feel like Rumpelstiltskin. Only I get to keep the girl, the gold, and the first-born child. All of which is far more appealing than simply catching Zzzzs.

Explore Your Excitement

You have to find the mental candy to enjoy in life. I hope that you fill your days with enough fun, interesting, and exciting professional and personal pursuits that they spill into your sleeping hours. I hope you have interests that get your juices flowing even when the pump should be turned off.

Key Takeaway

Focus more on the wow and the wonder than the worry. Find the things that excite you in your work and play. Not only will those things make it easy to get out of bed in the morning, they won’t let you wait for the alarm. That’s a great way to face the day. Even in the wee hours of the morning.

*If you know someone who could benefit from this message, please share it with them.

Don’t be the cheapest. Be the best.

There has been a recurring theme at work lately. My team at The Weaponry has been involved in several new business pitches. Which means we are competing with other advertising or design agencies to win a project. Sometimes there are 2 agencies. And the pitch is like a rap battle, or the knife fight in Michael Jackson’s Beat It video. Sometimes it is a Royal Rumble where you are competing with every superhero and their sidekick.

The 3 Factors

There are 3 factors involved in winning a new project from a client or customer. At least where organized crime is not involved. (Those organizations add a few other important factors. Like how much you enjoy your family, and your limbs.)

  1. The Proposal. This is the written plan detailing what you are going to offer the customer or client if they choose you. This is quite literally the overview of the product or service being offered.
  2. The Price: This is the summary of how much your offering is going to cost. Your price relative to your competitor’s price is important. The critical question is how does the price and value of your offering stack up against the other options they are considering.
  3. Your likability. Do the deciders like you? Do they trust you? Are you funny, smart, kind, good-looking or tell great stories? Do they want to spend time working and problem solving with you?

All Things Considered

Recently we have heard several times that our price was more expensive than the other options we were weighed against. However, they chose us anyway. This creates a valuable math equation boys and girls.

The Math

In this case, what we were offering and our likability combined was greater than the price we were charging for it.

Offering + Likability > Price

This is exactly where you want to be in business. When you offer superior products or services, and a combination of likability, fun, and trustworthiness, more times than not you will not lose out on price. In fact, if the other two factors are strong enough you can charge more, because you are offering more value. And everyone comes out ahead.

Key Takeaway

In any business transaction, there are always more factors at play than price. As the seller, your responsibility is to provide a superior product and service. And if you deliver that with more likable, more trustworthy people you will not only break any ties, you will add more value to the overall experience, and people will be willing to pay more for your offering. So don’t fight others on price. Compete with them on the offering itself, and on the people who offer it. And like Bob Barker said, the price will always be right.

*If you know someone who could benefit from this message, please share it with them.

Why it’s important to give yourself permission to be an amateur.

When I became an entrepreneur one of the greatest gifts I gave myself was permission to be an amateur. Or perhaps the only reason I became an entrepreneur is that I was okay with being an amateur. It’s hard to say.

Entrepreneurs ultimately need to know everything there is to know about starting and running a business. Yet the vast majority of this knowledge comes from on-the-job training. Which is how you learned to ride a bike. It’s how the Wright Brothers learned to fly. It’s how MLK learned to give great speeches. And how we all learned to do the Electric Slide. #boogiewoogiewoogie

By allowing yourself to be an amateur you allow for mistakes. You put a premium on learning, not knowing. Remember, you could never learn to juggle without making mistakes. The same is true for standup comedy. And parenting your children. (Don’t tell my kids that.) We start every area of life stupid. Being okay with that is the smart way to begin.

I make progress by doing what I know to do until I discover a better way. The secret is to always be looking for and open to that better way. Once you find it, you add it to your personal weaponry and you take another step forward. Those who reach the highest level of achievement simply never stop taking steps forward. Neither should you.

My kids and I recently learned to surf. Which is kind of like learning to ride a bike. Only with tighter fitting clothes.

Key Takeaway

Allow yourself to be a beginner. It makes you much more likely to begin. Allow for mistakes. When you accept your amateur status the journey from ignorance to intelligence is more enjoyable and rewarding. Learn and grow as you go. Recognize your improvements. And know that you can apply the same approach to anything in life.

*If you know someone who could benefit from this message, please share it with them.

+For more of the best life lessons I have learned check out my new book, What Does Your Fortune Cookie Say? from Ripples Media.