01/4/21

The $10MM Gross Revenue Reality Check

If you are a startup, I hope one day soon you get to $10,000,000 in gross revenue. If you do, I have some thoughts for you.

A caveat first — there are a great number of exceptions to what I am going to share with you, so do not fall prey to missing the difference of your situation or embracing every word I say, but there are reasons big and small as to why I hold these views.

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10/8/20

Is It Essential To Be Nuts To Be An Entrepreneur?

I was reflecting on the nature of entrepreneurs on the heels of three discussions I recently had with prospective clients. I was also thinking about my two Perfect Granddaughters — Peaceful Eadie (4 months) and Tempe the Bold (almost “fwee”).

In the discussion with the founders, we wandered into the area of what hurdles must an entrepreneur overcome and caught our heel on the notion that an entrepreneur had to develop a pretty damn thick skin, be able to hear the word “NO” in several different languages, and the benefit of the programming of an entrepreneur’s life prior to sticking their stake in the ground.

This last point was why I was thinking of Peaceful Eadie and Tempe the Bold. Their mother is an entrepreneur who co-founded a company called Weezie Towels which is savaging the luxury towel vertical.

When Momma works at the kitchen table, Tempe the Bold works alongside her with her own plastic phone and keyboard. You have never seen anything as cute as T the B fielding imaginary calls that often sound identical to her Momma’s. The probability that Tempe the Bold will become an entrepreneur like her Momma? I will let you evaluate that.

As an entrepreneur — or as a prospective entrepreneur — you are held captive to the jockey, horse, course evaluation wherein the “jockey” plays trump to the other aspects. You, of course, are the jockey.

The horse is the business engine, and the course is the market.

What does that jockey have to embrace mentally in order to become an entrepreneur and is it easier if you are nuts?

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08/21/20

Performance Appraisal As Inspiration And Motivation

Performance appraisal in small to medium companies (including startups) is one of those things that CEOs equate to going to the dentist. Not only do they not like it, they are not good at it.

There are a lot of very odd ideas at play here in the performance appraisal business — 360 degree appraisals which also fold in the guy selling flowers on the street corner — which makes the process a moving target; moving targets are notoriously hard to hit.

The message I bring you today is that a suspiciously simple, well-designed and executed performance appraisal system can be the most powerful personal tool wielded by a keen CEO for inspiration and motivation of individual team members.

It can also be clean, streamlined, and painless.

Let’s take a quick look at where performance appraisal fits within the overall schema of a company’s organizational matrix. Click on the graphic to see it at a larger scale.

Business-planning-building-blocks-graphic

What I want you to see is that performance appraisal is at the foundation level of the company’s Vision, Mission, Strategy Tactics, Objectives, Values, and Culture.

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08/16/20

Becoming Comfortable With Discomfort

I get a lot of calls from people who I can tell are uncomfortable with whatever they have called me to discuss. I can feel the vibration coming down the air waves.

A year ago, I ended a chat with a client and he said, “I constantly feel uncomfortable in my role as the CEO of my company.”

I let the dust settle for a few seconds and asked him to explain it. His explanation was perfectly reasonable and he knew exactly how he felt and why. Anybody would have felt the same.

We discussed it and then he asked me, “When does that uncomfortable feeling go away?”

I leaned into the second latte, took a sip, confronted his expectant face, and whispered, “Unfortunately, never. Part of being a leader is being comfortable with discomfort.

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04/7/20

The Gratification Of Personal Development, CEO Transformation

There is nothing as gratifying in my CEO coaching than watching hardworking CEOs, founders, entrepreneurs blossom and develop.

Right now is a time whereat a CEO is exposed to the business friction of the COVID19 saga. In this friction, one finds the revealed strength of CEOs. Frankly, not everyone has it while everyone needs it.

When you see a CEO with whom you have worked blossom and rise to the occasion, it is extraordinarily gratifying and just makes you want to sing Hosanna!

Amongst the characteristics I see with this subset are the following:

 1. The CEOs who undergo transformation to a higher level of performance in times of crisis have done the work, day in day out over a protracted period of time. There are no overnight success stories. Sorry.

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01/13/20

Listening Until The . . . . . End

I was with a pal of mine named Charlie — no, his name is not really Charlie — and I received a call from a former CEO coaching client who is a big deal these days. BIG DEAL.

I say to Charlie, “Let me talk to this guy.” We’re sitting under a grape arbor at a restaurant drinking expensive latte that Charlie insisted on rather than good, old fashioned black coffee. Charlie has forgotten more about the CEO business than I will ever know and I was at it for 33+ years.

I start listening to the guy, the CEO — giving off the vibe of his hair on fire. Burning hair has a distinctive odor you can smell if you have 5G cell service.

“Take your time and tell me exactly what the problem is,” says I. I listen for a long time with a few “got it” type comments thrown in.

When the CEO finishes, I ask, “What else?” He remembers a few other things.

During this convo, I have whipped out my notebook and pen and taken some notes. I am sipping on my latte under the grape arbor — a pergola. The sun is on my face, a slight breeze is cooling me, I am alive and well in Austin By God Texas. Life is good. My CEO, a former client, has called me with a problem and I think I can help him. Is this a great country or what?

“What else?” I ask. He adds one last thing.

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01/9/20

Never Disrespect Your Team

It was 77F today in the ATX, lovely temperature for this time of year, bit cloudy, so no sunscreen. I hate putting sunscreen on in the winter, but I will.

Warmish where you were? Haha, no it was cold as Hell. Global warming much?

So, I am the biggest Carolina Tarheels basketball fan in the world. This year has been tough with the Heels in tenth place in the Atlantic Coast Conference. [Duke is #1, adding insult to injury.]

The Heels are 1-3 in league play and 8-7 overall. The Heels suck.

The coach of the Heels, future Hall-of-Famer Roy Williams, had this to say after being beaten like a rented mule by Georgia Tech at Carolina in that holiest of all holies, the Dean Smith Dome, 96-83.

“We stunk OK. We were not very good. The crazy thing about it is, our team, and we’ve had some very gifted teams, this is not a very gifted team. It’s just not.”

What?

Whoa, whoa, whoa, Coach Williams. What did you just say?

Pinstriped Roy Williams crouches low exhorting his Carolina Tar Heels to overcome their natural mediocrity and lack of gifts. Look at his White Supremacy hand sign and his pocket square. Needs a tie pin.

Did you say the team you recruited and trained is ” . . . not a very gifted team . . . ?”

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