Small Business Guru

What Fuels You?

I’m preparing a workshop on ‘Personal Effectiveness’ for business owners... and amidst all the ‘obvious’ things like organisation, time management and personal ‘systems’, it got me thinking.... what keeps us going as business owners... where do we get our fuel?

For some, the juice comes from ongoing wins – whether it’s getting another client, the rush of a sale or successfully managing a staffing issue.  For others, it’s the growth and development of the business (and themselves in that process).  Fuelling yourself in this way is great... but what happens if you have a ‘dry’ period of few wins, slowing sales or staff grumblings?

Other people top up their tank knowing they’re ‘in-control’, taking comfort from the knowledge that they are ‘the boss’ – they’re not working to anyone else’s objectives, time-frames or budgets.  That’s all well and good... until of course they realise they are actually now slave to their customers, their staff and that ever-present need for revenue.

The most reliable fuel then has to be independent of business conditions.  For me I fill my tank with good nutrition (most of the time), physical exercise, spiritual practices and mental stimulation and engagement.  If you want help with nutrition or physical exercise, check out one of the many local practitioners who can give you guidance and frameworks that work for your life.

Mentally, consciously choose what you listen to, read and talk about.  It is really easy to get into a mental rut if you’re surrounding yourself with commercial news and talkback radio.    Instead, seek information that supports your goals and interests.  The internet is an amazing source of quality information and blogs in particular are a great way to stay in touch with current information, trends and opinions.  If you prefer your information and engagement more personal, consciously select peers, friends and colleagues who will engage you in robust conversation... and make the time to engage.

Mentally engaging yourself – really thinking about, around and into situations, opportunities or problems – not only fills your tank with premium fuel, it helps you evolve.

Thoughts on Leadership

Witnessing the inauguration of President Obama has reminded me about the power of strong leadership.

Strong leadership engages people.  It provides brightness of the future at the same time as grounded realism regarding the current reality.  Strong leadership inspires people to be better and to feel better about themselves... it's not shallow inspiration along the lines of "wow, what an amazing person he/she is", rather it inspires feelings of fullness, greatness and 'big-ness' in the witness's own minds.  It leaves us aspiring to be more than we currently are, individually and collectively.

Strong leadership is enhanced by powerful oratorship.... but it is grounded in integrity, clarity and consistency of message.

It is an exciting day for the planet today... not because a black man is now President of the US... but because today the world formally 'gave power' to a man who has been a powerful leader for quite a while. 

People get the leaders they deserve.... and Obama's inauguration today reflects a dramatic shift in the paradigms, thoughts and beliefs of not only the people of the US, but the people of the free world.  Metaphysically this is a remarkable shift....

Be a strong leader in your own context.  Be a person of integrity, clarity and consistency of message.  Engage with the people in your life, inspire them through your being... not through anything in particular that you 'do'.  Leadership is required everywhere in life.... not just at the White House, in Parliament House or in our Boardrooms, but in our homes, with our children, with our friends, in our societies.

Wow.... what a difference a leader makes!

C

The Subjective Nature of Economic Titles

I just heard on the news that the US National Bureau of Economic Research has declared that the US has actually been in recession since December LAST YEAR (http://tinyurl.com/5lb5uv).

I laughed.... because it just goes to highlight how subjective the definition is of 'recession' (http://en.wikipedia.org/wiki/Recession). 

It also confirms my opinion in my last post and in the presentation I did last week titled 'Tough Times?  No, It's Crunch Time' that Australia is NOT going to go into recession.... our GDP is forecast to actually grow over the next 12 months.  Sure, consumer confidence is down.... but that confidence is based largely on the scare mongering in the media... and a too heavy reliance for want of a better word on what is happening in the states.

We are not in the states.... we are not experiencing a sub-prime housing market collapse and our economy is in good shape.

Still not convinced...?  Just go into any major shopping centre and witness the amount of money being spent in the lead up to Christmas.... don't you worry, there's still money being spent.

Tough times? Really?

I am so tired of hearing about how tough things are.  People are citing the current economic climate as the reason for not buying, the reason why business is struggling, the reason why they’re ‘cutting back’.

The fact is, for most people, things are no more ‘tough’ than they were two months ago (I know some people have unfortunately lost their jobs but that’s not the majority).  Sure, people’s asset-base has taken a hit (yes, your superannuation fund does not look as good as it did month ago), but your day-to-day discretionary income has not changed one iota.  Grocery prices having been going up for the last 18 months.... petrol prices have been going up for the last 12 months.... so we have already been dealing with those increased cash flow burdens. 

Since the supposed economic crisis hit, petrol prices have actually come down... and so have interest rates!!  So in reality, most people should have more free cash to spend... not less!!

The fact of the matter is mainstream media would have us believe that we are moments away from recession.  This does nothing other than fuel fear... which influences buyer behaviour... which then creates a self-fulfilling prophecy of slowed economic growth.  Readers older than 50 would recall similar ‘slow-downs’... and would recall coming out of them unharmed.  The problem is we’ve had such a long period of growth that most people in business haven’t seen ‘conditions’ like these before – it’s easy to make hay while the sun shines.....

So what does it mean for you, a small-medium business owner?

Normal operations!  Stop thinking ‘doom and gloom’ – be proactive amidst the negativity.

Get smart with your marketing and reconnect with your customers.... demonstrate you are as important (and valuable) to them now as you were last month.  Expand your communications, your programs, your products, your services – resist the temptation to shrink and ‘go small’.

Unless you are selling to retirees or people servicing that market, your customers have the same discretionary income (if not more) they did six months ago.  Don’t fall into the trap of thinking ‘times are tough’.  They’re not.  They’re just different.