Now You Tell Me!

Starting a business is hard. Running a business is hard. But if one takes the time to learn from the experience of others, it might be just a little bit easier. That’s why I did this. To help others like me, look for those things they could do to make the process a little bit easier.

Like looking through a transit at the beginning of a survey, being off an inch at the beginning can mean you are off by a mile at the end. And that mile, may be the difference between success and failure. So, take the time at the beginning to make sure you are certain about the three absolutes (market, value proposition, execution) for the business before jumping in.

Once you’re out of the gate, pay attention to the three most important things about a business - get work, do the work, and get paid. Say it over and over and over until this phrase is synonymous with everything you do every day. You can touch other buttons, but make sure you never take you eye of these critical absolutes.

Take care of your most valuable resource – people. Don’t forget that job description. It’s the most important tool for selecting, evaluating, and managing people. This single document sets expectations, establishes the criteria for performance, and serves as a yardstick for performance. Use it and you’ll be pleased.

Oh, and when things go wrong – breathe. That’s the best advice I can give. Things are never as good as they seem. And they are never as bad as they seem. Stay focused, take your time, do the deep dive if required, and solve the problem. And remember, if the issue goes public and lawyers become involved, only 1 in 50 cases go to trial. So settle the case. And don’t let others, who may have no real stake in the outcome, push you into a fight that no one will win.

When you’ve had enough, get out. You’ll do no one any favors by sticking around if you’ve lost your drive, mojo, health or are sticking around only because you don’t know what to do next. Decide how best to move on and do it.

If you sell to the market, pick your fair market number, and get there as quickly as possible. Chatter about discount rates and revenue forecasts are simply foreplay. The fair market value is all that is important.

And then enjoy what you have accomplished. At your farm, with the grandkids, or on the beach. Whatever works for you. Good luck!