I attended the August meeting of the Edison Inventors Association in Fort Myers. Karl Gibbons, president of Third Eye Management, was the keynote speaker. It was a great presentation and very well received. There were take-aways for all of us business owners. Here are some of the best ones:
The business personality is the owner’s personality. It is very hard to look at yourself in the mirror and be objective. So try looking at the personality of your business. It is a direct reflection of who you are. Is there order or chaos? Energy or lethargy? Friendly or standoffish? It’s time to take a look at who we are and, therefore, who our business is. Do you like it or are there things to change?
Quit and get rich. This is a fascinating concept. You need to quit the things, the people, the processes that are not serving you. But do this under your control and on your (fast) time line. Some of the most successful people in the world fall into the category of strategic quitters: John F. Kennedy, Martin Luther King and Mahatma Gandhi to name a few. You need to learn how to quit fast.
Work on your business, not in it. Are you constantly putting out fires? Fixing the computer and handling customer service complaints? If you answer yes to any of this, you are working in your business and will fail – or only limp along. As the owner, you need to work ON your business. Make sure you have good staff, good SOP’s, you are working on new product development and strengthening your key customer relationships.
Delegate tasks to people that play at what you work at. Let me explain with an example. If I had to create a new web site for my business, I know enough to get it done. But I don’t like doing it and am not very good at it. And better yet, I know people that love to get up in the morning and design new web sites. It is almost play time for them. In the words of Dan Kennedy, you need to do only things that are in your Unique Ability and delegate all other activities.
You cannot be in business today, use yesterday’s methods and expect to be ahead tomorrow! If you are not constantly innovating, developing, growing then you are standing still. You will not remain in business long because the good businesses are always moving forward. I read an article where a large SEO consulting company just went out of business. They were experts on the Google search algorithms… until Google changed the formulas. The SEO company did not stay current with Google’s changes, did not perform for their customers which resulted in business failure. You need to be exploiting tomorrow’s methods today.
So thank you Karl Gibbons. It was a great meeting, a lot of good information and good calls to action for all of us.
Have a great day.