Posts Tagged ‘entrepreneur’

Buyers for your company: How to build a great list?

by Steve Popell, Jun 14, 2010

In a previous post, Steve discussed the fact that becoming an attractive strategic acquisition candidate should begin with learning precisely what prospective buyers think that means, and how to elicit that information in a series of telephone interviews.  But, an equally important element is determining whom to interview.  This post addresses that question. more…

Leadership and Mythology #6: Panic and Self doubt

by Gary Monti, Jun 15, 2010

When you leave your comfort zone, even little things take on much bigger significance and cause you to doubt yourself. But once you become comfortable dealing with uncertainty, the rewards will be tremendous. Leaving your familiar confines is like being touched by the Greek god Pan. Leaders are characterize by their ability to stand up to Pan.  more…

Social Media and Tribers #2: DEATH of Email; RISE of branded Tribes

by Deepika Bajaj, Jun 16, 2010

A while back, email was an effective medium to market your products. But not anymore. Because of the rise of junk mail people don’t trust the emails they get. New web marketing is based on the foundation of TRUST with our tribe. In this post, Deepika gives a high level overview of how to go about building trust within your tribe. more…

Flexible Focus #6: Peace in the Elements

by William Reed, Jun 17, 2010

A great way to gain flexible focus is to study elements of words, their roots, nuances, and varieties of expression. This can be done in any language, but in Chinese and Japanese you have the additional dimension of written characters (kanji), not only the elements or radicals which make up the kanji, but the remarkable range of expression made possible in writing with a brush. more…

Author’s Journey #26: Speak your way to book publishing success

by Roger Parker, Jun 18, 2010

Speaking is one of the best ways you can promote your book while planning and writing it. It creates a special bond with your audience, paving the way for book sales and lasting relationships. In this segment, Roger encourages you to speak your way to book publishing success by speaking about your book at every opportunity. more…

Magesh is an accomplished software professional focused on building enterprise value through creative use of technology. Magesh enjoys working with people and is passionate about bringing out the best in everybody to achieve results that are larger than the sum of individual accomplishments.

Tagged as: active garage, blog.invincibelle.com, Business Valuation, communications, deepika bajaj, entrepreneur, Entrepreneurship, Flexible Focus, gary monti, Leadership, leadership and mythology, Leadership myths, Roger paker, Social Media, steve popell, william reed, Writing for Business, www.invincibelle.com

Quality #15: 7 tips for acting on customer feedback

by Tanmay Vora, May 31, 2010

Listening to your customers and getting their feedback is important. But if we don’t act upon it, we are wasting not only our time and resources, but also that of the people who took time to provide the feedback. In this post, Tanmay lists some simple tips to integrate customer feedback to deliver meaningful business change. more…

Leadership and Mythology #4: Sociology and Control

by Gary Monti, Jun 1, 2010

Some myths are propagated just so that leaders can exercise control. But there are limits to it. Remember Gary’s last blog? Instead of just beating the drums, what would happen if the leader asked everybody to sacrifice all they had? But if the Chief allows Newtonian mechanics to be embraced and lets loose his power, a new social order arises. Like Obi Wan sees, there are guiding principles that enable the leader to earn the trust and following of others. more…

Mortgage Challenges for the Self Employed

by Guy Ralfe, Jun 2, 2010

Guy recently relocated and started his own business. He is finding it difficult to secure a mortgage for his new home as banks and lenders have a criteria of assessment for the self-employed that he does not yet meet. His advise to those who want to follow in his footsteps – secure the credit before you begin your new operation. more…

Flexible Focus #4: The eight frames of life: Health

by William Reed, Jun 3, 2010

The word Health has a narrow definition in most people’s minds. It usually has the connotation of eating well or exercise or avoiding sickness. But it is much more than that and it impacts not only you, but people you interact with and sometimes those you don’t interact with. Follow the Mandala on Health to get a handle on your health and lifestyle. more…

Author’s Journey #24: Building your expert network and Obtaining pre-publication quotes

by Roger Parker, Jun 4, 2010

It is never too early to begin marketing and promoting your book. One of the best methods is to seek out and build your expert network. Believe it or not, experts are willing to help you – endorsing your book helps reinforce their expert status. Networking brings a whole slew of benefits – so get started today. Read this article to find out how yo can do it. more…

Magesh is an accomplished software professional focused on building enterprise value through creative use of technology. Magesh enjoys working with people and is passionate about bringing out the best in everybody to achieve results that are larger than the sum of individual accomplishments.

Tagged as: active garage, author's journey, Business Management, business planning, Business Strategy, Communication, entrepreneur, Entrepreneurship, Flexible Focus, gary monti, Guy Ralfe, http://activegarage.com, Leadership, management, roger parker, tanmay vora, william reed, Writing for Business, www.activegarage.com

How to avail of opportunities that you cannot see?

by Himanshu Jhamb, May 17, 2010

Himanshu had a thought provoking moment when a long time friend wanted to invest in one of his ventures. It brought home for him the question of how you can be an opportunity to others. The answer lies in providing what others are looking for, i.e., be of value to them. On the flip side, you need to do the same to recognize value in others and build relationships. The two work together to increase your capacity. more…

Leadership and Mythology #2: The mystical and co-opetition

by Gary Monti, May 18, 2010

Can you compete and co-operate with somebody at the same time? If you are having difficulty with this concept, think about Apple, Microsoft, Google, Intel, Yahoo, etc. Do they only compete, or sometimes co-operate too? To be an effective leader, you have to balance competition with co-operation. more…

Performance Procrastination

by Guy Ralfe, May 19, 2010

Guy, donning his new business owner hat, has to take charge and take action. He had to deal with an employee performance issue and concludes that bearing short term pain is good for the long term gain. Of course, dealing with employees is an art and science – there are way too many considerations in play. But ultimately, it all boils down to the question: Is the employee pulling his or her weight and, are you getting your value for the money you pay them.  more…

Flexible Focus #2: Are goals traps or opportunities?

by William Reed, May 20, 2010

Goals are overrated. Yes, you read that right. In the western world, there are several traditional ways people think of goals and work towards achieving them. Following them, you either miss the big picture or miss the details or simply follow a beaten path. Flexible focus, epitomized by the Mandala Chart, is the product of eastern spiritual thinking. It is a philosophy that enables you to be free of your goals. You are not goal free, but you approach them in a detached manner that removes your bondage to your goals. more…

Author’s Journey #22: Use one sheets to sell books and build your profits

by Roger Parker, May 21, 2010

One sheets are single page, 8 ½ by 11-inch, marketing documents used by authors to promote their books and build their profits by attracting speaking invitations and promoting their coaching and consulting services. In this post, Roger tells you all you need to know to create one sheets.  more…

Magesh is an accomplished software professional focused on building enterprise value through creative use of technology. Magesh enjoys working with people and is passionate about bringing out the best in everybody to achieve results that are larger than the sum of individual accomplishments.

Tagged as: active garage, business, Communication, entrepreneur, Entrepreneurship, Flexible Focus, gary monti, Guy Ralfe, himanshu jhamb, http://activegarage.com, Innovation, mandala chart, roger parker, william reed

Can we avert failures in our life?

by Vijay Peduru, May 3, 2010

This article reminds me of one of my high school teachers. This was his famous refrain: if a rocket destined to the moon is off by a fraction of a degree, it will not reach its destination. You can change your destination only if you change your direction. Nothing happens all of a sudden. There is no overnight success. Take small steps in the right direction every day. more…

Leadership Cancers #8: Anticipation

by Gary Monti, May 4, 2010

Wow, Gary… or should I say “The sage of Active Garage”? Performing action without becoming a servant of the desired consequences has been a subject of discussion for the longest time. This is a very nuanced concept and can be easily misinterpreted out of context. But understanding and putting this single principle to practice can bring you peace of mind and take your performance to new heights you have not experienced before. more…

Are You Preventing Your House Sale?

by Guy Ralfe, May 5, 2010

One of my teachers insists on learning the art of quitting. You got to listen to this Kenny Rogers song on this topic. While quitting is an essential art, it is equally important to not shut the doors of opportunity. When you don’t give into emotions and think strategically, you can leverage every thing that comes across your way for your ultimate benefit. more…

Pillars of Success

by Robert Driscoll, May 6, 2010

Based on movies, TV and what we read in the media, we have a pre conceived notion of what a hugely successful CEO is. You cannot be more wrong. Robert has captured the essence of one CEO’s practices for success in this article. more…

Author’s Journey #20: Choosing the right incentive to build your List

by Roger Parker, May 7, 2010

One of your most important marketing and promoting decisions is choosing the right incentive to offer as a bonus to visitors who sign up for your e-mail newsletter or weekly tips. It’s not enough to offer great information delivered at consistent intervals via e-mail. In this article, Roger has listed a great array of incentives you can provide your readers. more…

Magesh is an accomplished software professional focused on building enterprise value through creative use of technology. Magesh enjoys working with people and is passionate about bringing out the best in everybody to achieve results that are larger than the sum of individual accomplishments.

Tagged as: Action, active garage, author's journey, business, Business Management, business planning, Business Strategy, Communication, entrepreneur, Entrepreneurship, execution, gary monti, Guy Ralfe, http://activegarage.com, Innovation, leaders, Leadership, management, possibilities, Project Management, purpose, Robert Driscoll, roger parker, vijay peduru, Writing for Business, www.activegarage.com

Recently I was listening to what I thought was going to be just another training class about how to be successful in business. Work hard; think differently; empower your employees. The usual.

The gentleman speaking was the President & CEO of one of the world’s largest wireless companies. At first I figured he was your typical blue blood, Ivy League educated executive who would give us some words of wisdom and then he would be on his way. How wrong I was. This gentleman talked about his life story and the struggles he had to overcome just to simply get an education, let alone build the company he ran today. From his life lessons, he built the foundation of his work ethic that he has kept throughout his personal and professional life.

He stated that you learn to be a leader through your personal and professional experiences as well as your formal (high school, university, graduate school) and informal (training classes, certifications) education. This is your foundation. Continuous learning and the accumulation of knowledge is what helped him build what he calls his pillars of success which looks like this:

Everything starts with an idea, a dream, but don’t just dream, dream big. Believe in yourself and don’t limit yourself to what others say. But dreaming is not enough. You have to have a good strategy on how you want to execute your dream, a winning game plan. Hope is not a good strategy. Don’t just expect things to happen. You need to have a good understanding of how you are not only going to start your new venture, but how you will get your customers, areas to target, etc..

Developing a winning game plan is just the beginning. You have to be willing to take risks. Calculated risks. This is where you need to get out of your normal comfort zone. You need to start thinking and acting differently than others in your market space and creating offers that have marginal value in the marketplace. Don’t just do something simply because it feels like the right thing or even worse, introduce a “new” offer that is just simply another flavor of a similar product or service already in the marketplace. If you do, you will never be noticed. Be different.

As soon as you have a game plan and you start executing on it (and taking risks), you will most likely come across obstacles that you have never come up against before. Don’t avoid them. Tackle and embrace them and learn from them. These experiences will only make you stronger.

Overcoming obstacles, if approached properly and you learn from them, will only create new opportunities for you. Find the value in them and incorporate them in to your offer. This will only increase the marginal value in your offer. As you add more features or functionality in to your offer, go back to the first pillar and start the process all over again. This should be a continuous cycle in your business.

The foundation that holds up these pillars of success is the leader’s principles: teamwork, integrity, credibility, attitude, vision and excellence. These will be discussed in my next post, but I hope this post can help jumpstart your dream to start a new venture where you can build your own pillars of success.

This article was contributed by Robert Driscoll, co-founder of Active Garage. You can follow Robert on Twitter at rsdriscoll.

Tagged as: active garage, business, Business Management, business planning, Business Strategy, entrepreneur, Entrepreneurship, execution, http://activegarage.com, Innovation, Leadership, management, Robert Driscoll, sales, success, www.activegarage.com

Lifecycle Management: Knowing what your company owns, how it’s being used and where it lives

by Matthew Carmen, Apr 12, 2010

The key to managing a financially sound IT organization is to start with a sound planning and implementation process. You need to know what it is you are managing. They are software licenses, hardware assets, leased equipment and the list goes on and on. Knowing this is the first step to understanding how they are used and the details surrounding the total cost of ownership. more…

Leadership Cancers #5: Simplemindedness

by Gary Monti, Apr 13, 2010

The difference between simple and simplemindedness is a razors edge. When designing a solution for a customer, you need to understand the disciplines, principles and the balance between them that is required to go from customer requirements to functional specifications to design to production. Failing to recognize any one aspect will lead to a simpleminded solution that will introduce unintended complexity. more…

Customer is King

by Guy Ralfe, Apr 14, 2010

As Guy wades deeper into his new domain of business, he is able to understand with great clarity that the first order of business is to take care of customers. This cardinal notion spans across all industries without exception. If you do not take care of your customers, somebody else will and you don’t that to happen. more…

Business Valuation in divorce is different

by Steve Popell, Apr 15, 2010

In a divorce situation, the manager-spouse purchases the community property interest of the non-manager-spouse through the process of community property division. The standard “fair market value” method of evaluation is not valid here. Read this article to understand the fundamentals of this evaluation method. more…

Author’s Journey #17: Finishing your book on time and avoiding writer’s block

by Roger Parker, Apr 16, 2010

Finishing a book on time and avoiding writer’s block is a challenge to many authors. Better planning will help you finish your book on time. Start by creating a content plan and commit to a daily progress. more…

Magesh is an accomplished software professional focused on building enterprise value through creative use of technology. Magesh enjoys working with people and is passionate about bringing out the best in everybody to achieve results that are larger than the sum of individual accomplishments.

Tagged as: active garage, business, Business Management, business planning, Business Strategy, Communication, entrepreneur, Entrepreneurship, gary monti, Guy Ralfe, http://activegarage.com, Leadership, roger parker, Strategy, Writing for Business

As I continue to share my experiences in the journey from corporate jockey to being an owner and entrepreneur it amazes me how similar business is, irrespective of which vertical or market sector you operate in.

I have moved from the high tech IT solution delivery to application of specialty coatings in the construction world. What is very apparent is that business seems to be the same at successful companies. Contrary to conventional understanding business is not about the product. Yes product is important but not fundamental in a way that customers are.

There is a saying “Take care of your customers and the business will follow”

I have found this to be true looking back at the various companies I have worked at and when business has been good. Where I see the challenge is that most people don’t stop and think who the customer is for them or their organization.

This last week I watched a TV program Undercover Boss, which featured Chris McCann, President and COO of 1-800-Flowers.com going undercover to visit franchise stores to get a better understanding of what they could improve.  What became very clear is that they had lost focus of who their customers were – yes ultimately it was the consumer of their product but along the way the franchise store is actually their primary customer. What was amazing to see was that even though the product (arranged flowers and chocolates) were the same for the stores the individual stores success hinged on the relationships the staff created with the customers. And by the same measure the challenges that the franchise stores were facing was as a result of a neglected relationship with the central franchisor management.

In reflecting on how we transact, think about the people that you socialize with and who you call for help or favors in your network. Without giving it much thought you go out your way to take care of them and maintain the relationship. These relationships work in a symbiotic or balanced manner and just as when you feel down they help you through. So too should you be doing the same for your customers, both internal and external.

As another quote I found says – “If you don’t take care of your customer, someone else will….”

This article was contributed by Guy Ralfe, co-founder of Active Garage and co-author of the upcoming book ProjectManagementTweets. You can follow Guy on Twitter at gralfe.

Tagged as: active garage, business, Business Strategy, Customer Service, customers, entrepreneur, Entrepreneurship, Guy Ralfe, http://activegarage.com

Now that I have officially started my journey as a business owner and entrepreneur, but still in the honey moon phase I can share some stark realities about starting a new venture.

Most importantly it takes guts and lots of support. At the age of 38 with a wife and two young children to support, I am leaving a secure and stable employment to relocate half way across America, to the mid-west, to start a new company in one of the worst economic environments the world has known. Making this decision consumed a lot of thinking time and with this uncertain background, produced by the media, conventional thinking does not leave you in a sane place.

I have been looking for this opportunity to begin a new business for over 6 years now, I still do not have enough guts of my own to start this – and this is why I say you need lots of support. To give you an indication of the support I am using to get this off the ground:

Business Partner - I have a business partner that already has a very successful business in the same vertical that can provide operational expertise and contacts within the industry to minimize the lead generation and prospecting phase of starting out.
The partner approach allows for the lowering and distribution of start-up overheads, much like  an Incubation start-up.
Laws, expectations, codes of conduct, processes that can take so much time to learn and often expensive when starting out, can be circumvented.

Financial – contrary to what you may think about business, it does not all center around the business plan, it centers around the execution. You can make all the sales in the world but if you cannot cash-flow the operation then you can never think about being profitable.

Most companies will need capital to start. I have  acquired a reasonable amount of assets, which are valuable to me but they are not all seen equally valuable to my financiers. Start to think about what instruments you can use for financing before you want to begin your business.

What type of assets do you hold? -  as that affects the ratio by which banks will offer/secure lines of credit.
What is your credit score? – what can you do to minimize the impact on your credit score leading up to opening your business.

What do you need to execute your operations – transport, utilities, insurance, offices, systems, subscriptions? They all send bills regularly and all expect payment regularly.

Industry Knowledge Partners – if you are like me and are wanting to start in a field in which you are not an expert, you will need knowledge experts that can guide you through the rapids in your journey. Look to building relationships with people such as:

Suppliers

Competitors

Lawyers/ Regulatory Bodies

Accountants

Customers (though customers do prefer to deal with experts so use this avenue selectively)

Personal Support - we all have our moments when we think we are the Lone Ranger and we can do it all on our own. As I have written about before, consider the impact one decision may have on other aspects of your life.

One such aspect is your family and close friends. This opportunity wasn’t an option until it became an opportunity for my family too – and I thank them for their support.

So yes it has still taken all the guts I have to make this exciting start, my sanity could be questionable and it sure was not due to conventional thinking that I was able to choose this – it is only possible to rationalize and make this choice because of the support and help that is in place.

This article was contributed by Guy Ralfe, co-founder of Active Garage and co-author of the upcoming book ProjectManagementTweets. You can follow Guy on Twitter at gralfe.

Tagged as: active garage, Business Management, business planning, entrepreneur, Entrepreneurship, financing, Guy Ralfe, startup, success, support, www.activegarage.com

Business Intelligence or lack thereof?

by Brian Beedle, Mar 29, 2010

In these tough economic times, it is imperative that organizations make strategic changes rapidly. Traditionally, business leaders are focused on the profitability and the lower rungs don’t have the business intelligence to make serious impact. The answer lies in implementing a performance management system. Brian discusses some key factors you need to be cognizant of before you take the plunge. more…

Leadership Cancers #3: The myth of peak performance

by Gary Monti, by Mar 30, 2010

You know the story of Apollo 13. The entire ground team worked round the clock for several days to bring the astronauts back. The team performed at the peak level. Realistically, you cannot expect this team or any team to perform at that level continuously. There is a normal performance level and we need to strive to improve the normal performance level. But striving for peak performance all the time will burn people out and will setup the team and the organization for failure. more…

Timing the Flood

by Guy Ralfe, Mar 31, 2010

Timing is everything. It involves being at the right place at the right time and then evaluating the offer’s risk vs. opportunity. Guy’s current situation has put him in the right place for offers to be made. And he is evaluating the offers within his current capability. more…

How to handle any situation

by Vijay Peduru, Apr 1, 2010

Life is nothing but a series of situations. How we handle them determines how our life shapes up. We can approach situation will resignation or anger. But these are not powerful moves and will not enhance your life. Deal with situations in a mood of possibility and see a new and wonderful world open up for you. more…

Author’s Journey #15 – Crafting the perfect book proposal

by Roger Parker, Apr 2, 2010

Your book proposal for your first book is among the most important documents you’ll ever prepare. The purpose is two fold: 1) Sales pitch 2) Marketing plan. A typical proposal has seven sections described in this article. Think of your book proposal as an investment. more…

more…

Magesh is an accomplished software professional focused on building enterprise value through creative use of technology. Magesh enjoys working with people and is passionate about bringing out the best in everybody to achieve results that are larger than the sum of individual accomplishments.

Tagged as: active garage, brian beedle, business, business planning, Business Strategy, Communication, entrepreneur, gary monti, Innovation, Leadership, management, possibilities, Return on Investment, roger parker, vijay peduru, Writing for Business, www.activegarage.com

In many aspects of life we look to the past performance to gauge the expected future performance. Not to be confused with the warning label on all financial institution advertisements “”Past performance is no indication of future returns”. Ironically though, every financial product sold is positioned based on its past performance. We see this reference to the past particularly in sports, where carefully compiled statistics are processed and constantly fed back during commentaries. In hiring interviews people are often asked how they handled a past situation to get an indication of what could be expected in the future.

Of particular memory was the New England Patriots winning streak in the 2007 NFL season where they won 18 straight games leading up to the Super Bowl. Their past record had been perfect up to that point and it was hard to believe that it wouldn’t continue through the Super Bowl game. I can remember the optimism and near certainty going into the game (even though I knew nothing about the sport of Football having been brought up on Rugby) just based on the historical performance. Unfortunately that Super Bowl was not to be for the Patriots.  Up to the point of losing the Super Bowl game, the historical statistics had been brandished around with such hype in the media, news and commentary, then suddenly they became obsolete and no longer relevant and the world immediately moved on. At times the statistics seem to appear as certainties/facts and you see the future as such.

What we tend to forget is that even though it is the Patriots playing there are some fundamental changes taking place between the games that from an objective point of view would not have us so focused on these statistics of the past to predict the future. The patriots only made up half the game, the New York Giants had also fought their way through to the Super Bowl and rightfully had their statistics to call upon.

This applies directly to business also, just because a situation turned out one way has little to no bearing on the next situation unless it is identical – has all the same players, having the same concerns and ambitions. What we can do however is learn from the experience and keep it in our background as we navigate our way through similar situations. The distinction is that the statistics/ past experiences/ history are kept in our background and should not become the lens through which we navigate our future situations.

This leads me to share an experience just recently where Himanshu Jhamb and I were collaborating on one of our upcoming Active Garage projects. A clear request had been made of me via email to perform some functional testing. Himanshu inquired on my progress to which I replied something like “ Previously when I have offered my help or provided feedback I had been passed over  so I did not feel it was urgent to partake in this request or that any input would be considered so I haven’t done any testing”.  Thankfully Himanshu set me straight by saying “ Guy! you are speaking a number of things not mentioned in the email but clearly they are in your head…” It was only at that point that I suddenly realized that I was looking through the lens of the past in approaching the future and this severely hampered my ability to make an objective assessment and my actions were not appropriate for the situation – the stats suddenly became useless!

Keep the past as knowledge to reference, then deal with the situation at hand working with the future in mind. This way you can build respect, trust and opportunities.

This article was contributed by Guy Ralfe, co-founder of Active Garage and co-author of the upcoming book ProjectManagementTweets. You can follow Guy on Twitter at gralfe.

Tagged as: active garage, entrepreneur, execution, future, Guy Ralfe, past, perfomance, possibilities