10/9/18

CEO Shoptalk – Mistakes

Rainy day in paradise, so we talk about mistakes today.

If you are a CEO for more than twenty minutes, you will make a mistake. Sorry. Truth.

Mistakes fall into four general categories:

 1. Foot faults, like using the wrong fork with shellfish;

 2. Minimal consequences to someone on the team faux pas;

 3. Adverse consequences to a client or critical stakeholder; and,

 4. Burn the house down mistakes.

So what do you do?

Continue reading

08/2/18

CEO Shoptalk – Traits of Leaders

Big Red Car here on a beautiful, sunny Thursday. Ahhh, on Earth as it is in Texas, y’all.

So, I’m at church on Sunday listening to the sermon – I love and desperately need a good sermon – and it inspires me to think about some of the traits of great leaders – not “good” GREAT!

I come up with four traits which seem to separate the great from the good and the mediocre.

Continue reading

05/17/18

Experience, Addressable Experience

What is addressable experience? Big Red Car?

Big Red Car here on another glorious Thursday in the ATX in which the sun shines, the breeze blows, and life flourishes. On Earth as it is in Texas, y’all.

So, I’m visiting with a gray haired eminence former CEO who is an old pal. We get on the issue of experience.

How much is enough?

How much is too much?

How much is relevant?

How much is addressable?

It was an interesting conversation. Between the two of us, we have more than seventy years of CEO-ing. That is a lot of time, a lot of experience.

Continue reading

05/16/18

CEO Shoptalk — Great Startup CEO

Are you a great startup CEO?

OK, so the Big Red Car gets asked often, “Tell me, wise and red Big Red Car, what makes a great startup CEO?”

Like most things in the startup world, there is not a single, correct answer, plus the Big Red Car is lazy and doesn’t want to do the work.

But, now somebody asked the question in a way I cannot dodge. So, here goes.

What makes a great startup CEO, Big Red Car? Tell me.

Continue reading

04/29/18

CEO Shoptalk – Energy

Energy, today we focus on energy.

Big Red Car here after an afternoon of menial labor. I like menial labor, I do.

So, today we talk about how a startup, a small business, or a medium size business deals with energy.

First, there are energy sources and energy sinks. An energy sink is an absorber of energy. We will come back to this issue of energy sinks. Now, we focus on creating, maintaining, and multiplying energy.

Here is an example of a dragon projecting energy, hence, the name “dragon energy.” Haha, Kanye and Donald, both DRAGON ENERGY.

Fire breathing dragons are sources of energy. Usually, they have eaten burritos with jalapenos.

Every enterprise is, essentially, an energy equation. Let’s apply that to business, shall we?

Continue reading

04/24/18

CEO Shoptalk – Staying in Your Lane

Staying in your lane, Big Red Car? Huh?

Big Red Car here on a lovely, sunny Texas Spring day. On Earth as it is in Texas, y’all!

So, the Big Red Car talks to CEOs all the time and I am seeing an odd trend. CEOs are wandering a bit.

They wander a bit because they are successful and they wander a bit because they are not.

When they are successful, they wander because they can afford to do it. [Pro tip: We never make as many mistakes when we are broke. We can’t afford to.]

When they are struggling, they wander because they are looking for that inflection point which will put their compass on the azimuth to the Promised Land.

Continue reading

04/23/18

Revenue, the Essential Nature of Revenue

Revenue. Big Red Car here to talk about revenue. Y’all love revenue as much as the Big Red Car loves revenue?

I think you do.

If you whip out your accounting text, you will read first about operating and non-operating revenue. Scratch a little harder, you will learn about sales, rent, dividends, and interest.

If you are really on your game, you may stumble on “contra” revenue. Contra revenue is discounts and returns.

For what we are doing — startups — the revenue picture is slightly different. Let’s bring it into focus, shall we?

Continue reading

04/23/18

Building a Fundraising Database

Building a fundraising database, a perfect subject for an incredibly lovely Monday morning in the ATX. Cool, crisp, sunny — ahhh, on Earth as it is is Texas!

So, you are ready to begin fundraising. You need a target list, a database of potential investors. This is true whether you are in the family & friends, angels, syndicated angels, seed funders, or venture capitalists arena. You need to identify the funders.

So, how do you do it?

In our example, I will build on ten such campaigns I have assisted entrepreneurs in the last year.

Remember, you are dealing with people whose job is to invest money. If they don’t invest money, they don’t keep their job. You, dear entrepreneur, are helping them keep their job.

 

It is hard work, but it is not a difficult task.

Continue reading

04/16/18

Making the Right Decisions v Making Decisions Right

Decisions. Decisions. Decisions. Are you making decisions right? Are you taking the right decisions?

OK, y’all, Big Red Car here on a crisp, sunny Texas spring day. On Earth as it is in Texas!

Today, I am pondering a conversation I had last week with a seasoned CEO who I have known for several years. We worked together and I watched him become an extraordinary CEO. It was a wonder to behold.

Early in our relationship, I sent him my standard “beginning a relationship” questions. It’s called the Startup Company and Small Company Checklist.

The way it works is I want the CEO to read the questions to see whether he can answer them. Not to assign homework, but to give him an idea of how others view the framework of a startup. It is always illuminating to have the first discussion after they read that document.

You can find it and other useful stuff here: FREE STUFF

Just scan it, don’t answer it.

Continue reading