I Love Failing

One of the joys of being in business is related to the opportunity to continually learn. Like most people I have received the most benefit from learning what doesn't work and trying something else.

Thomas Watson Snr, the founder of IBM, was once asked by a young man, "How can I double my success rate?". Watson's reply seems counter-intuitive but is so correct based on my experience.

So what was the answer? Well, Watson replied with the words, "Quadruple your failure rate".

So to succeed you need to fail. Most successful entrepreneurs fail a number of times before they win big. Their failures and tenacity allow them to carry on and succeed.

The take away message is to succeed you must learn from your failures and not be dejected by them. This gives you the resilience to succeed.

DK

Elvis Presley - Keeping Close to the Accountant

We don't usually think of Elvis Presley giving financial advice but see the quote below:

 I have no use for bodyguards, but I have very specific use for two highly trained certified public accountants.

Elvis Presley

Elvis had it right. Every business person needs to keep close to their accountant. It doesn't mean you will follow all of their advice, but the circumspect use of accounting advice will keep your business safe and also ensure that you are claiming all that you can.

The first bit of advice I got when I started as a manager was, Keep close to the money guy...

DK
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Long Term Business Survival

Sometimes when you innovate, you make mistakes. It is best to admit them quickly, and get on with improving your other innovations.
Steve Jobs

To survive in business over the long term you need to innovate to survive. Innovation doesn't necessarily mean inventing something new. It is more often a case of finding old tools to do something differently or changing a process to enhance customer experience. Don't let yourself get stale or you will notice the effects on your business endeavours.

Read, network, keep up to date with trade publications, keep alive.

DK
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Get your Name out there

In todays online world there are a myriad of competing businesses. What makes your business different? Do people know who YOU are? The personal touch is all important. Customers like to deal with people they know, or think that they know.

Any advertising you do needs to have your picture on it. Believe me this works. Every email you send should have a signature line that promotes your business. Get a blog like this and engage with your customers.

Business has changed over the last 30 years and the approach to digital customers needs to align with current expectations.

Grant Goodman aka drkelp

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Collaboration Works

Today in the 2010's we need to collaborate more than ever. Competition at all costs is a 20th century paradigm which is over it's best by date. Successful businesses partner and collaborate with other businesses who complement their own offerings.

Don't fight over dividing the pizza (competition) but rather bake more pizzas (collaboration).

[Posted with iBlogger from my iPhone]

Towards Business Sustainability

We have to shift our emphasis from economic efficiency and materialism towards a sustainable quality of life and to healing of our society, of our people and our ecological systems.

Janet Holmes a Court

The age of rapacious growth is coming to an end as we exhaust the earth for raw materials. The businesses of the future will be balanced between profit and societal good.








DK

Failure Breeds Success

"Each failure to sell will increase your chances for success at your next attempt."

Og Mandino

This is an important lesson for all business owners and shows the importance of attitude. Sales is a numbers game and those brave souls who do well with cold calling know that about 2 in 100 calls will give significant income opportunities. Don't focus on the failures look at the successes.

[Posted with iBlogger from my iPhone]

Going the Extra Mile

Do more than is required. What is the distance between someone who achieves their goals consistently and those who spend their lives and careers merely following? The extra mile.
Gary Ryan Blair

It is the extra mile that makes the difference, push yourself further than your competitors and you will win. Perseverance and stamina are two underrated attributes of people who have been successful in business.

DK

Growing as a Manager

In the last few weeks I have mentored two of my new managers through the angst of their first, respective human resource, performance related problems with staff. Every manager always remembers the first disciplinary session they had to run, the first review of a poor performer or the first time they had to let someone go. This is a watershed time for new managers/supervisors and both of them came through with flying colors and felt much better about themselves as managers afterwards. The secret is to be professional, firm and objective.

DK

Best Business Advice

When I got my first management post I was given some excellent advice by one of my colleagues:

Firstly - Never do over the phone or by email what you can do face to face;

Secondly - Keep close to your money man (our accountant was a male at that stage - and still is a male last time I saw him!!).

This sage advice has stayed with me for decades and I have passed it onto many people. Even though I work in a highly technical field, my success has been accentuated by the strong face to face relationships I have been fortunate to make with colleagues and clients over the years.

Keep well

DK