Core Values are the rules and boundaries that define the company’s culture and personality. They answer the questions of ‘Should we or Shouldn’t we’. They are the test for all the behaviors and decisions for everyone in the company.
When your top managers and the founder understand this and lead by this example, when their decisions and behaviors are led by the Core Values, that will flow down to the rest of the company.
When the Core Values are felt and lived by through the entire company, the upper manager, leaders, founders don’t get dragged down into the day-to-day decisions and operations.
The Core values are like the North Star. When you have strong Core Values and they are shared with and instilled into every person in the company, they become the ‘rules. So, when someone comes to ‘ask permission’, leaders can respond with ‘consult the Core Values’.
Now management can trust employees to make the right decisions...
When I was researching this topic to better explain this concept that I have naturally lived with my whole adult life, I was surprised to find the amount of information out there trying to do the same thing.
From Peter Drucker declaring strategy was only about competing on price in the 50’s and 60’s, moving on to Michael Porter mapping out competitive forces in 1979, only to update it in 2008, to countless articles in Harvard Business Review, there is no shortage of opinions on what strategy is.
Strategy is a topic that makes the eyes of even very smart business people glaze over.
I know too many clients and business owners who simply roll their eyes and announce, “Who cares?! Let’s just get the work done!”
However, as your business matures and grows, how do you keep the train on the tracks and keep all your people on the same train? That is where Strategy comes in.
So, yes. We have to care.
Once you understand what strategy is and apply it...
The statistics are disheartening. So many businesses never make it to $100K a year much less $1MM.
There are 30 million firms in the US and those with no employees have an average annual revenue of only $46,978 per year.
Owners only make an average income of %450,347 per year.
And 86.3% of firm owners make less that $100,000 per year in salary.
So why bother starting a business?
Because you love what you do, you don't want to work for anyone else and you know you can make this business successful. You just don't know why you can't break through.
There are 3 reasons you aren't able to push forward.
With growth comes complexity in communication. Remember when it was just you and one other person. It was a lot easier then, but even communicating with one person can be challenging. Think marriage!
But add another person. This can be a customer, vendor or staff. Now the communication complexity has increased by 6 times. Ok, what if you add...
Just because you own a business, doesn’t mean you have the answer to every question and opportunity that comes along. No matter what your staff or spouse think. Making decisions for your company can be painful. We can agonize over these decisions to the point that we never actually make a decision in hopes that the issue just goes away.
The problem with that is, it doesn’t go away. And sometimes, by delaying the inevitable decision, the issue becomes larger and often costly to the company.
We need new opportunities and ideas to continue growing. But with new ideas comes a constant shift in priorities. As a result, deadlines get missed. Customers become confused and unhappy. Goals and targets go missed and fall by the wayside. You and your team are now in reactive, firefighting mode. You try to finish the work that wasn’t completed on time or up to the customers standards, but now you have an unhappy customer.
Jim Collins, the author of Good to Great, said it...
Are you on target for your 2021 goals, at the very least your 2021 first quarter goals? Do you remember when we talked about the after-action review. This is where you actually put it into practice. If you haven't put those steps into practice, this is the fantastic opportunity to take a look back in January. So as a review of the after-action review, has four steps.
State what you wanted to have happen. That's the battle plan, your objectives, your goals. What are your goals for 2021 specifically your goals for the first quarter of 2021? This is your battle plan. Your objectives.
Acknowledge what actually happened. This is the distance between your desired goal and your current reality. We are looking for the distance between your goal, your object, your battle, objective, and your current reality.
Learn from the experience. What did you learn? What was missing? What was a pleasant surprise? What actually happened? What did you learn from what...
Face it, most founders aren’t doing anything new or unique in their business.
And that’s okay as long as you continue to provide your customers and clients with value in some unique way. This will set you apart from your competition and keep your customers and clients loyal to you. We live in a world of instant global communication, having a new idea or something unique is very rare.
So, what that means for most business owners is that you are going to have strong competition that’s been in the game for a long time before you even got started.
Some of these competitors may have even been in the business long before you even thought about entering the race.
So how do we set ourselves apart from these apparent titans and differentiate ourselves and stand out in that crowd? I’m going to give you five tips that will help you do that.
Today on Basecamp, I'm gonna talk about how to get more done in less time.
Let me ask you a couple of questions. Have you ever said to yourself...
"You know, if I want it done right, I've just gotta do it myself."
"It's really hard finding good help."
"You know, it's really too important for me to delegate. By the time I show you how to do it, I'd have it done myself."
Do these sound familiar? If they sound really familiar, then you're spending far too much time focusing on things that are draining you, instead of farming them out and delegating them to somebody else who can do them for you.
You know, over the years I've worked with a lot of clients that really struggle with this. And it's very hard as a business owner to let things go, this is your baby! You built this from scratch.
Now you have to hand it, or hand over pieces of it to somebody else? Really? It's very scary. But if you don't do that, you're not going to be able to grow. You're going to burn out and hit a...
We as business owners and founders don't have a crystal ball. We can't predict the future, obviously, but with good and accurate data, you can start to push out the fear and make good, solid business decisions. On today's episode of Basecamp, I discuss How To Plan For The Future.
When you have the data you can start to see trends and you can start to become a bit of a predictor. Once you get all of the data together, you're going to be able to make much better decisions and push that fear aside. You're gonna make decisions from good, solid information and not fear.
Typically, I work with two different types of clients.
The first one says...
"What if we had to hire more people? Where are we going to put them?"
"What if we get so many orders that we don't have enough supply and we have to go find more supply."
"What if this key person quits? What are we gonna do?"
"What if our suppliers raise our prices? We're not gonna be able to keep up."
Can you see the...
Today's episode of Basecamp is focused on the book "First Break All The Rules: What The World's Greatest Managers Do Differently." by Gallup. It's about what really separates great managers from okay or even poor managers.
It's called "First Break All The Rules: What The World's Greatest Managers Do Differently." It's about what really separates great managers from okay or even poor managers and quite frankly, I mean, think about how many really bad managers have you worked for?
There are a lot of them out there. But there are quite a few that are excellent, and if you can get a manager to really excel at managing the people below him or her, it can really have an impact on your business.
I really like this liked this book a lot. It really spoke to me and validated my feelings that a lot of what I've been talking about over the over the years and a lot of the way I deal with people. So I would be reading it and say to myself "I got one". So, I was pretty happy about that....
Having a vision for your business is essential. Every decision you make, every single day, drives your business closer to that vision or away from that vision. There's no in-between. Either you're going towards the vision or you're going away from it. On today's episode of Basecamp, I discuss Why And How To Create A Vision.
First, I wanna say two things about vision. Typically, I end up talking to a business owner about vision when they come on as a new client. And often they've either never worked as a coach or consultant before, so they really don't understand this vision, mission thing, or it's a new business all together and one of the first things, if you work with a coach, especially someone online, coming up with your vision is one of the first things that they have you do because that's what helps keep you driving forward.
The reason why you want a vision and especially, now, if you're in the first three years of business, you probably don't have, especially if you haven't...