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Embracing Growth

We all need to grow in order to feel meaningful and achieve our full potential.

If you’re not growing and improving in some way, you will begin to feel that your life is lacking in purpose. In essence, a life without growth says to yourself and those around you: “I have nothing more to do here”. Of course this type of attitude can stand in the way of your happiness and productivity.

Have you ever started a worthwhile project or plan and felt a surge of energy and excitement? This is the natural state of growth. When you learn and experience new things that improve and add value to your life and the lives of others, you feel alive and empowered. One of the most effective ways to create a life of passion and meaning is to take steps toward reaching your potential. This includes learning more about yourself and your world; and creating a plan that helps you to move in the direction of your desires.

The process of striving for self-actualization never ends and it is not easy. It requires focus, determination and strength of character, all of which can be developed over time. It is a life-long undertaking and most of the benefits are derived from the journey not the destination.

A few days ago, I sat with some investors to listen to a proposal presented by a business owner who wanted to sell his existing business. After listening to the presentation for 10 minutes, I realized that this venture would not provide the opportunity to generate profits and provide a solid return to any entrepreneurial team or investor.

At the heart of any entrepreneurial process is opportunity. Successful business people and investors know that a good idea is not necessarily a good opportunity. In fact, for every 100 ideas presented to investors in the form of a business plan or proposal, usually only 2 or 3 ever get funded. Over 80 percent of those rejections occur in the first few minutes; another 10 to 15 percent occur after investors have read the business plan and proposal carefully. Fewer than 10 percent attract enough attention to merit further consideration and investigation.

As an entrepreneur, it’s important to develop the ability to quickly evaluate whether serious potential exists in a business opportunity and decide how much time, effort and value to invest.

Here is a quick summary of what to initially look for when determining if a business venture is a good opportunity:

Market demand is a key ingredient in measuring opportunity

  • Does market share and growth equal 20 percent of annual growth
  • Is the customer reachable

Market structure and size

  • is the market emerging or fragmented
  • What is the revenue potential based on existing market share

Margin analysis helps differentiate an opportunity for an idea

  • Capital requirement vs the competition
  • Can we break even in 1 to 2 years?

Consider the underlying market demands as well as the value added properties of the product of service. Also up for careful scrutiny is whether the market size allows for a 20 percent or more growth potential; the economics of the business, solid gross margins (40 percent or more) and the free cash flow characteristics.

The business need not be operating perfectly. In fact, if there are some inconsistencies in existing service, some gaps in information and knowledge those can also be considered as potential to create opportunity and drive value. In the final analysis, there are many factors which when combined, will paint the total picture. But the basics as outlined above along with your professional experience and business acumen will help in bringing you to an appropriate conclusion.

My Haiku Project

As mentioned on a recent Twitter post, I’ve decided to set a goal of writing one Haiku poem every day for the next 365 days. I began this project on July 10, 2009, on a whim. My reasons are not necessarily clear at this time, but I believe that as I develop my writing of this poetic form, my thoughts and ideas will take shape in a way that allows me to further explore my motivation.

The Hokku or more properly known as the Haiku is a tiny verse form that was originally introduced by Japanese poets hundreds of years ago. The famous verses from such masters as Basho, Yosa Buson, and Kobayashi Issa are properly referred to as Hokku (1600-1868) and must be placed in the proper historical perspective. The history of modern Haiku however, only began in the last years of the 19th century.

Modern Haiku dates back to Masaoka Shiki’s reform in 1892, which established Haiku as a new independent poetic form. Shiki’s reform did not change two traditional elements of Haiku: the division of 17 syllables into three lines of 5, 7, and 5 syllables and the inclusion of a seasonal theme. Some of the most exciting Haiku-poems describe daily situations in a way that gives the reader a brand new experience of a well-known situation.

A good Haiku can be more than a mere statement of feeling or a picture of nature but also an implied identity between two seemingly different things. One of the best Haiku writers and a poet who crystallized the style was Basho (1644-1694). In his later years, he was a student of Zen Buddhism, and his later poems which are his best, express a deep awareness in the mystical philosophy of the identity of life and all its forms.

The Haiku is not expected to always be a complete or clear statement. The reader is supposed to add his own associations and imagery to the words and become a co-creator of his own pleasure of the poem. As such, I hope that those that read my poems will appreciate the deeper meaning inherent in each verse.

Here is a basic format for creating your own Haiku poetry:

1. Most Haiku poems focus on the imagery of nature and the natural world.

2. Most Haiku poems are set around nature, picking a topic that relates to a season.

3. When choosing a season, there are a variety of ideas and themes to consider:

• Winter: cold, sadness, hunger, peace
• Summer: warmth, love, anger, temptation
• Fall (Autumn): decay, supernatural, jealousy, saying good- bye, regret, misery
• Spring: infatuation, youth, passion, fickleness, birth or rebirth

4. Haiku poetry comes easier if you write what you’re feeling, versus what you see.

5. Contrast is important. Try to evoke an emotional impact on the last line. In many Haiku poems, the poet will switch moods on the second or third line.

6. You don’t have to write a full sentence. Haiku accepts all forms of writing, including phrases.

7. Haiku poems don’t have to be completely serious in matter. Inject a little humor at times. Most importantly, have fun in the process.

Here are a few favorites that I’ve recently penned:

Under clear blue skies
a happy ocean makes waves
as the sun rises

As the wind creates
patterns on the ocean sand
a lone seagull glides

An eagle soars high
a snake slithers through the grass
both move with purpose

Drowsing to the sound
of birds singing, wind rustling
a dump truck roars by

Successful managers have high expectations, both of themselves and their team. These expectations are powerful, because they’re the frames in which people fit reality. We often see what we expect, rather than what is actually occurring.

Social psychologists have referred to this as the self-fulfilling prophecy or the Pygmalion effect. In Greek mythology, the sculptor Pygmalion carved a statue of a beautiful woman, fell in love with the statue and brought it to life by the strength of his perceptions. Many managers play Pygmalion-like roles in developing people. Research on the phenomenon of self fulfilling prophecies provides ample evidence that people act in ways that are consistent with our expectations of them. If a manager expects a subordinate to fail, they probably will.

Organization builders have their strongest and most powerful influence in times of economic uncertainty and turbulence. When accepted ways of doing things aren’t working well enough, a manager’s strong expectation about the destination, the processes to follow and the capabilities of the team serve as a driving force that gets the team moving in a positive direction.

In addition, great managers tend to not give up on people, because doing so means giving up on themselves, their judgment, and their ability to get the best out of others. When I ask people to describe exemplary managers, they consistently talk about those that were able to bring out the best in them. To have your team’s best interest in mind and doing what is necessary to help them develop the drive and motivation to be successful; that is one of the defining characteristics of a great manager.

If you’ve observed predators in the wild, you may have noticed that they operate in cycles. Most of the time, they display barely any movement. They project a sense of calm focus, as if they’re waiting for a particular moment. Then it happens! They’re charged with intensity as they sneak up on their prey and attack. When the mission is completed, they return to their original calm and the cycle starts over again.

To be effective, organization builders and managers need to find a way to tap this rhythm of passing between reflection and action, between activity and repose. Any project or initiative whether individual or on a team, require four stages that demand deliberate attention before moving on to the next. This helps create time to think and for collective discussions that lead to a successful endeavor. The following are four stages to consider in using this approach:

Reflection: Evaluate the current situation. What underlying beliefs or theories seem to affect your thinking? What is your purpose and goal for the final results?
Connection: Create ideas and possibilities for action. What should you be looking for? What conversation and training is required?

Decision: Settle on a method for action. Choose and refine your approach. Decisions incorporate an element of choice. “Here is the alternative we choose to take, and here are the reasons why”

Action: Perform the action. Your tasks will be supported by the other three stages which came before.

When the project is completed, you move immediately back to the reflection stage and perhaps a formal evaluation of how it all worked out. Practiced regularly, this method becomes a part of your organizational culture. Using an intentional, self-conscious process like this for decision-making and planning can enable leaders and team members to be more confident in the outcome. Everyone on the team contributes to the process and supports the final decision.

The usual and predictable response in an economic downturn in many organizations is to demand greater productivity from the workforce by making employees work harder.

This can actually have a negative rather than a positive impact by fueling resentment and burnout. A smarter approach is to be open with employees about the business problems you face and invite them to be part of the solution while encouraging them to meet critical needs. Do this correctly and you’ll reduce stress, decrease wasted time, boost trust, build resilience, and improve productivity.

Here are a few examples to consider:

• Challenge the organization to respond by setting intriguing goals and articulate a compelling mission that will get people to rally.

• Intensify internal competition. Increase your team’s collaborative capacity by building relationships and encouraging the exchange of ideas and solutions.

• Ensure that your team is regularly exposed to diverse points of view and experiences.

• Encourage brainstorming and scenario analysis. Don’t abandon training, Invest in your people.

Instead of subscribing to the outdated principle that “tough times call for tough measures”, consider instead that tough times call for smart measures. Smart leaders utilize challenging times as an opportunity to inspire their people to become more spontaneous, productive and innovative.

Some thoughts on Social Media as an effective business communications tool according to a survey of 200 chief executives by public relations firm Burson-Marsteller and PRWeek.

48% say they lack relevance to the target stakeholder groups
37% voice concern about losing control of their message
28% worry about return on the investment
23% blame a lack of knowledge and capability within the company

While 62% see social media as having an impact on a company’s reputation, only 48% say it can change sales.

I would argue that companies that are not recognizing and fully exploiting the potential of Social Media will eventually be left in the dust of their competition. Any medium that can impact your company’s reputation can also impact your company’s bottom line. Ideas spread as fast as scandal. While you’re thinking that it lacks relevance, your competitors are exploring ways to harvest and act on innovative ideas and emerging trends.

Words are Powerful

Words and thoughts create images in our minds and these images have a powerful effect on our attitude and perspective. Choose your words carefully in order to develop a clear, realistic and positive outlook.

Ask the right questions

Do you love what you do? That question has a lot more relevance today than ever before. People who love what they do are the ones that are doing the best work, being the most productive and making the greatest impact.

Start asking yourself a few questions that get you thinking and moving in the right direction, for example:

Are you adding value (both personally and professionally) that others embrace and talk about?

What adjectives and verbs do people use when they describe who you are, and what you do?

And so on.

Be introspective and proactive in managing your career and your life. It’s an effective personal and professional development strategy and it’s how powerful reputations are built.

 

The person in the mirror

In this article from the New York Times, the author forces us to consider various reasons why businesses fail. Of course there are many but there’s one that many entrepreneurs often fail to consider. check out: How to avoid becoming a failure statistic.

“But sometimes, the painful reality is that a business falls apart for one reason: You.” [...]“In the end, when any company is suffering, there is a question every entrepreneur must ask when he or she looks in the mirror: Am I killing my own business?”

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