bradfair.com

Day One in San Diego

nospam@dontspamme.com (Brad Fair) — Wed, 11 Feb 2009 20:55:25 -0600

It's been a really eventful day. Two flights, one from OKC to Dallas/Ft. Worth, one from Dallas/Ft. Worth to San Diego. Jenn and I found a really inexpensive deli right at the corner of our hotel in Downtown SD, and got a delicious salad. We walked the harbor and looked for things to do the rest of the week we're here. We may take a harbor tour, a dinner cruise, and go see a few museums. Of course we're going to go to the zoo, and watch out for Sea World!

I uploaded just over 50 new pictures (not captioned this time, taking caption proposals), so go over to http://pics.bradfair.com/ to have a look!

Heading to San Diego

nospam@dontspamme.com (Brad Fair) — Wed, 11 Feb 2009 07:50:46 -0600

As a slight change of pace, Jennifer and I decided to take a vacation to San Diego. I figured I would share our trip with you, just in case you were interested in what's going on!

Jenn woke up at 2:00am this morning, too excited to sleep (apparently). I followed suit at 3:00. We got around and had everything packed shortly thereafter, and spent until 4:20 comforting the cat - she knew SOMETHING was going on, just didn't know what!

After a quiet hour-long drive to OKC Airport, we checked our bag and made it through the security checkpoint. It has been a very long time since I've flown, and I thought that the security checkpoint would be a bit more of a hassle. I felt it was thorough but simple.

Right now, we're sitting next to the gate watching little trucks pull planes around while people are sprinting towards the doors (I guess they're running late).

We depart in an hour and ten minutes, and the flight is an hour long. Check out pictures at http://pics.bradfair.com/main.php?g2_itemId=15. More blogging about our trip to come!

Professional Service Firm Improvements

nospam@dontspamme.com (Brad Fair) — Fri, 30 Jan 2009 05:47:00 -0600

While searching the net for how to increase billable hours, I found an interesting article about business improvement in a professional service firm. It struck a chord with me, so I thought I'd share it with you. I have a few comments below about what I think of the article.

-- Brad

One thing is for sure, we are all busy busy busy on a daily basis. To the point that sometimes we get lost in it. We all know that being busy doesn't always mean being profitable, unless of course, you are concentrating your efforts on moneymaking activities.

Years ago, we did an experiment with our team at Scenario Design as we needed to increase our overall efficiency and profitability. Before we made any shifts, we needed to know how much time we were all spending per day on non-billable activities. On a Monday morning, in our regular daily huddle, I asked everyone on the team to get a white piece of paper, a red pen and a green one (Being a very creative team of designers, I probably asked for specific Pantone Colors like PMS 485 for red and PMS 382 for green...ha! ha!).

The mission was simple. To keep this piece of paper handy at all times for 14 days. Each team member was to draw a red line when doing Non-Billable tasks and a green line when working on Billable tasks or activities with an approximate time log for each task. The results were mind-blowing. Everyone was surprised as to how much time and energy was spent on non-billable or non-moneymaking opportunities every single day. It was a real eye opener for me, as an entrepreneur, needing to be more profitable without necessarily hiring more employees.

THE FINDINGS:

We were shocked to find out that our main production designer, who was hired to be our #1 "production profit centre" because of his amazing talent and speed, was only working on billable activities at an astonishing low rate of 46%. Our senior designer was on average billing only 39% per week, and the list goes on. Trust me when I say knowing is half the battle.

THE #1 PROBLEM:

It's amazing what you can find when you are actually looking. Our #1 problem was our unprofitable habit of working way more hours than estimated or proposed to the client. Sound familiar? In actuality, a lot of our team's time was billable...but was not accounted for nor billed because the project had gone over and beyond our initial proposal and no one felt like we could bill those extra hours at that point...and they were partially right. Rule of thumb: never spend someone else's money without letting them know first.

THE PIVOTAL SHIFTS:

Once we were aware of everyone's efficiency or deficiency patterns, we then made 6 pivotal shifts:

We established Billable Percentage Targets for each team member to hit weekly according to their position and responsibilities. We even included our admin assistant in the mix.This is what it looked like:

Production Designer's Billable Target: 90% (mission findings: a low 46%)

Senior Designer's Billable Target: 75% (mission findings: a low 39%)

Creative Director's Billable Target: 85% (mission findings: a low 45%)

Admin Assistant's Billable Target: 25% (mission findings: a crazy 0%)

Project Manager's Billable Target: 65% (mission findings: a low 26%)

We started Estimating with Ranges to allow the team a buffer of time to work within and added a clause to our proposal letting the client know that we would advise them in advance should the project go above 10% of the project range.
We tweaked our Client Meeting Rhythm to allow for entire days of design production without interruptions. For example, Mondays + Wednesdays became meeting days for some of us and Tuesdays + Thursdays became production days for everyone. It does not mean that we never had exceptions...but this was the new "productivity" norm.
We implemented BubbleTime. BubbleTime is a block of uninterrupted, productive time. No calls, no emails, no talking...just pure productive energy. It is recommended to have at least 2 blocks of uninterrupted time per day of at least 1 hour and a half.
We tweaked our Monday Huddles to include each team member's billable % average from the previous week. It is very important to publicly celebrate the team members that are making it happen week after week and to also look at which team members are falling behind and why so you can either tweak the expectations, find solutions together to reach the target, or simply evaluate if this employee is assigned to the right seat on the bus.
We continually Measured Efficiency and Profitability against our targets and our client proposals to ensure that we stayed the best "well-oiled machine" that we could be.

THE RESULTS:

We grew an astonishing 85% that year alone without hiring anyone new...and we did it pretty effortlessly when all considered. This simple mission allowed us to uncover and course-correct a few major growth blocks, or potholes as I like to call them.

Don't operate your business blindly. Know your numbers...including your team's efficiency rates and go from "Survive" to "Thrive."

Isabelle Mercier Turcotte is a business performance and brand management coach, speaker and business growth catalyst, who is driven by a relentless passion for helping entrepreneurs and business leaders accelerate their success. Isabelle is an expert at helping clients overcome major obstacles, deal with tough decisions and capitalize on new opportunities to achieve breakthrough results.

For more information and easy-to-implement, proven strategies to increase Efficiency, Brand Equity & Profitability, visit us online at http://www.leapzonestrategies.com.

Article Source: http://EzineArticles.com/?expert=Isabelle_Mercier-Turcotte

My View on Isabelle's Article:

In working for a professional services company, it's amazing to see how the profitability of the business affects the culture and future growth. When you've built a company based on service, you should remain aware of the costs associated with doing business, and realize what margin you can reasonably expect. As you increase your billable time (by following what Isabelle did), you'll notice that you're able to provide quality work and get compensated for the value you add. In the end, everyone benefits. This increases morale of clients and employees alike, and begins what I've recently learned is called a "Virtuous Cycle." More on that in an upcoming post!

Please, tell me what you think of Isabelle's article, and how does it relate to your business?

Crucial Factors in the Five Stages of Growth

nospam@dontspamme.com (Brad Fair) — Wed, 28 Jan 2009 06:17:00 -0600

Another one straight out of the Harvard Business Review, this time from well before I was born!

The authors of this article assert that there are five stages of growth in a business, and that they are non-linear in nature. Not all companies will go through all stages, and the stages don't progress in the same order for every company. Here they are:

Existence - getting customers, meeting their needs. These two things mean that a company exists.
Survival - Switching focus from existence to the relationship between revenues and expenses. Here is where you worry not only about whether you can make money or not, but whether you make more than you spend!
Success - This isn't the end of the road, by any means. By the time you're here, you've created a viable business that brings in sufficient profit. You have two things that you can do:

Use the success of the company to finance the owner's lifestyle/other activities, or
Use the success of the company to finance further growth.

Take-off - After making the decision for more growth, your primary concerns are managing the growth and financing the growth.
Resource Maturity - The authors say that this is the point at which you have "arrived" in your business. Less than one percent make it here, but that is by choice for most. Here, you must take hold of the business after its high growth stage, and implement systems to help control the company.

The authors were kind enough to point out eight "key management factors," half company-specific and half owner-specific. They are as follows:

Company Specific

Financial Resources (cash and borrowing power)
Personnel Resources (how many people, how awesome are they, what level are they)
Systems Resources (Business Process Automation, planning/control systems, info systems)
Business Resources (customer relations, manufacturing/distribution processes, reputation, etc)

Owner Specific

Owner's personal goals and business goals
Owner's operation abilities
Owner's managerial abilities, and willingness to delegate
Owner's strategic abilities

The interesting thing about these "key factors" is that they are ALL important, but that in each stage some are more important than others. According to the authors, here is what you should focus on in each stage:

Existence

Business resources - what little you do have needs to be quality.
Owner's operation abilities - your ability to do what the business does.
Cash - For without it, nothing survives.
Matching personal and business goals - if your business goals and your personal goals are dissonant, get out now.

Survival - at this stage, doing what your business does, and keeping an eye on revenue & expenses is your focus.

Owner's operation abilities
Cash

Success - There are two sub-stages here, disengagement and growth.

Disengagement

A little less on your ability to do, but that's still the #1 focus.
Of the eight factors, all are rising in importance but cash, ability to do, and business resources.

Growth

Matching business and personal goals. This is a risky and stressful time, make sure you really want it!
Operational abilities
All of the rest are important here, but not the PRIMARY focus.

Take-Off - It's ALL important in this stage, but here's the order of focus according to the authors.

Cash - if you can't finance growth, you'll fold
Strategic planning - You must have the road map to get there.
Systems and controls - Since you can't do everything personally in a high growth stage, you must have systems in place to bring you the results you're looking for.
Business/Personal goals
People - Do you have the right kind of people, in the right positions? How's your culture here?
Delegation - if you can't delegate, you carry the weight of the world on your shoulders. Your people are there for you, to do what you tell them to. Give them things to do, and let them!
Your ability to do - Since you're delegating and focusing on growth (strategery), you shouldn't be in the day-to-day of doing what your business does. It's less important, but since you're a teacher in this stage (delegate!), it's still important.
Business resources - these are becoming increasingly a natural byproduct of business operations. Manage your relationships, but don't give it all your attention.

Resource Maturity - in this stage, the systems are in place. Most things are important, but managed - not a CRUCIAL focus. The only crucial focus is:

Strategic planning. Many companies forget that the market moves with or without the company, you might as well move with it.

The points that I think every young entrepreneur should remember are:

Every business goes through these stages differently. Some stages may even be skipped or not touched.
Use this as a guide to what you should be thinking about in the future. If you're in the Survival mode now, but you intend on getting into the Growth stage, make sure you account for the crucial factors of the growth stage.
When considering advice from other business people, consider how their businesses evolved. The evolution of Wal-Mart was not the same as the evolution of Facebook, so Sam Walton's and Mark Zuckerberg's advice about the same business issue may vary quite a bit.

I'm interested in hearing comments about this article. For those of you who have a business, how did your company go through these stages? Did you notice that you were in one stage with respect to one part of the business, while in a completely different stage in another regard?

How To Develop Brochure Content

nospam@dontspamme.com (Brad Fair) — Mon, 26 Jan 2009 03:17:00 -0600

Developing a business brochure is a great idea for the young entrepreneur. The content of the brochure answers a lot more questions about your business than the typical business card. Sometimes it’s hard to get a face to face meeting set up with a potential client and a brochure filled with information about your business can be a great door opener. A brochure is even better than a phone call because time is so valuable these days. The content of your brochure can answer questions and even generate new ones, which leads to sales. The brochure actually can be the catalyst for setting up an initial meeting. The phone call and email communication are just tools to reinforce what the brochure has expressed.

Now that you have done some initial leg work such as collecting different brochures, identifying your target customer and doing some market research and evaluating your business from the inside out it’s time to write the content for the brochure.

The words you used for the content are tools to sell the idea. It’s sort of like selling the sizzle and then selling the steak later. Choose words that are descriptive and imaginative, so the reader can get a mental picture in his mind. Most of us form ideas and beliefs around the words we read, so pick words that send a positive message about you, your business and exactly what you want him to do.

So when choosing words remember to:

Use words that create a positive mental picture for the reader.

Be descriptive about you, your business and product, but don’t be confusing by using long sentences or big words.

Be positive in the way you format the words. Tell the reader what you want him to do or what he should do after reading the brochure. Everybody needs direction and a purpose in order to act or react.

As you write the words form a mental picture and tell that story in the brochure with visual content you use. The brochure must make sense to you, before anyone else can form an association with it. Use simple photos that develop a story that reinforces the word content of the brochure. Some people won’t read the words; they will just look at the photos or sketches and draw an opinion about you, your company and product. As the old saying goes; a picture is worth a thousand words, and as far as brochure content is concerned that's a reality.

The next step or it may even be the first step depending on how your mind works, is to develop a color story. What color print will you use? What color are the pages? Do you format one page of print and one page of words, or do you put the print under the words? Others brochures can give you an idea of what each format looks like and then you can decide what works for you.

First impressions are lasting impressions, so the front cover, as well as the back cover, is a key factor on whether the reader ever opens the brochure in the first place. The print size, its color, the visual development of the front and back must say: read more, open me. Everyone is motivated by different factors but the content of the cover and back cover set the mood for the reader. The reader will form an idea about what’s inside based on what he see outside. Your job is to convince him that the content of the brochure is worth the time he spends with it. That can be done in many different ways, but the most effective way is to believe in what you are doing and then get some impressions from people who will give you honest feedback. The feedback does not necessarily mean that their approach is better, but it gives you the option to combine approaches or look at an aspect of the development that you missed. Feedback helps you do a more focused job.

Creating and developing effective brochure content pays off in many ways. It has no expiration date and your business will grow in many different directions because of the brochure. It’s your expression and your creativity so enjoy the experience, because once you have created one, another one is just a thought away.

3 Places You Can Find Legal Info For Your Business

nospam@dontspamme.com (Brad Fair) — Fri, 23 Jan 2009 06:12:00 -0600

When starting a business, a young entrepreneur needs a lot of guidance, especially in the beginning. There are many resources to consult when starting a business. Some may be sensationalistic, such as ‘Get Rich Quick’. I would avoid them. There are good, informative books, but these can become dated quickly. This is especially true with laws and tax information. I recommend the Internet to find accurate information. These 3 websites I find especially useful.

Small Business Association
The Small Business Association (SBA) website covers a variety of information for small business owners, from startup to selling.
There are 4 headings on the home page. Each of them provide in depth, up-to-date information. They are as follows:
Small Business Planner outlines the 4 steps to start and manage your business that the young entrepreneur may find useful.
Under Services you can find help with financial assistance, contract opportunities, disaster assistance, laws/regulations, and much more. There are online training courses listed here which are available for free.
Tools includes forms needed for a small business. You can also find monthly web chats, and a link to SCORE (Counselors to America’s Small Business). SCORE itself is a wealth of information as well.
Legal Resources is where you can find local SBA offices. There are also links specific small business owners, such as women and veterans.
The Small Business Association is a government organization, and its website is full of useful info. You will want to bookmark this one and refer to it often.

Business.gov
Business.gov is another government website which is not specific to small businesses. A young entrepreneur can find a wealth of information here. Some of the topics covered here are ‘Start a Business’, ‘Advertising and Marketing’, and ‘Government Contracting’.
This site also contains info on ‘Employment and Labor Laws’, ‘Franchises and Opportunities’, ‘Licenses and Permits’, and much more.
The forms which are accessible from this site are more comprehensive. You can find tax forms, the I-9 (employment and eligibility verification form), family medical leave act forms, Occupational Health and Safety (OSHA) forms, forms for patents, trademarks, and copyrights, and more.
FAQs can be found on this site on many topics. Human resources, taxes, and environmental compliance are just some of the helpful topics found here.
This site offers so much to the young entrepreneur, and consulting it is time well spent!

FindLaw
This site is a great place to learn about business law. The young entrepreneur can find information discussing the different types of incorporations, such as an LLC and a non-profit.
There is a place to post a question to be answered by the users of FindLaw and links to various service providers, such as LegalZoom. This site is great for figuring out what services you need and how to find them.

These sites are great resources for business owners. The young entrepreneur really must check these out!

12 Characteristics Essential for Entrepreneurs

nospam@dontspamme.com (Rob Garibay) — Fri, 23 Jan 2009 05:49:00 -0600

I am fortunate to stand on the shoulders of Brad Sugars, founder & CEO of ActionCOACH, and the more than 1200 ActionCOACH business coaches located in 29 countries. While thinking about the topic for this article, I came across an article published in ActionSTEPS, our weekly newsletter to business owners. This article so effectively expounded upon my recently published six part series on the Entrepreneur Ladder, that I decided to use it as the basis for today’s column.

By examining the 5 levels of the Entrepreneur Ladder we gain a better understanding of the fundamentals that distinguish ordinary entrepreneurs from the extraordinary. There are certain traits common among successful entrepreneurs. While individual entrepreneurs have many unique traits that are not common to others; all entrepreneurs do share a kindred spirit, a certain type of constitution and outlook, with a special drive and willingness to do what it takes. This article examines a dozen characteristics that are within successful entrepreneurs, without which most people fall short of success in entrepreneurial endeavors.

#1 Confident

Confidence, a hallmark of the entrepreneur, can be developed over time. Many confident individuals gained their sense of self esteem and faith in their ability to overcome challenges by acting, even when they lacked the confidence, and then growing in strength and belief through seeing results.

#2 Sense of Ownership

Entrepreneurs take responsibility for problem solving. Rather than viewing a problem as someone else’s, entrepreneurs see it as their own and take pride in finding solutions. Rather than controlling situations in an attempt to possess them, entrepreneurs teach others how to take charge. Clever entrepreneurs use individual accountability in the ultimate pursuit of profitability, teamwork, and overall success.

#3 Able to Communicate

Communication is the key to successful relationships with people. Entrepreneurs work to hone communication skills, written, spoken, and non-verbal body language. Above all, entrepreneurs develop a keen ability to listen to what others are trying to say.

#4 Passionate Learner

Entrepreneurs are often “autodidactic” learners, which means that much of what they know they learned on their own by seeking information, asking questions, reading, and research. They are also quick to learn from their own mistakes. True entrepreneurs surround themselves with those who know more than they do in related disciplines.

#5 Team Player

Business owners who have not mastered team building become enslaved to the daily tasks of running their business. They

shoulder the whole burden for themselves, and will never advance up the e-ladder to building a business that works without them. Entrepreneurs master team building.

#6 Systems-Oriented

Good systems leverage entrepreneurs, allowing greater results over time with less exertion or resources. Entrepreneurs rely upon systems before they rely upon people. They implement system-based solutions before human solutions, recognizing that most routine problems are not people problems, but system problems.

#7 Dedicated

Entrepreneurs dedicate themselves to the fulfillment of their plans, visions, and dreams. It is that tenacity of purpose that generates focus and electricity throughout their entire organization.

#8 Grateful

Being grateful for what we have opens us to receive more. Those who are grateful appreciate and nurture what they have. Entrepreneurs learn to take nothing for granted in this world. Thankfulness for their skills, employees, and blessings reminds them that riches and wealth are not about “stuff”, but are about fulfillment, satisfaction, and the pleasure that comes from one’s accomplishments and contributions.

#9 Optimistic

Entrepreneurs see setbacks as bargain priced tuition for the business lessons gained through firsthand experience. They remain steadfastly faithful to their vision and refuse to give in to fear.

#10 Gregarious

Because business is all about people, entrepreneurs tend to be socially outgoing. They have the ability to contagiously share excitement about their ideas, products, and services. They tend to be fun-loving, both on and off the job.

#11 Lead by Example

Entrepreneurs are skilled at leading others through their enthusiastic approach to life. They know the importance of teamwork, and they understand the need to appreciate others, support them, and reward them. True leaders do not become indispensable; otherwise things fall apart in their absence.

As retired United States Air Force Major General Perry M. Smith once wrote, “Leaders who share their power and their time can accomplish extraordinary things. The best leaders understand that leadership is the liberation of talent; hence they gain power not only by constantly giving it away, but also by not grabbing it back.”

#12 Not Afraid of Risk or Success

Many people could be successful if they only took calculated risks. Unfortunately many people who do take chances and become somewhat successful find the realization of their dreams an overwhelming possibility, so they sabotage their continued success by retreating back into a comfort zone of smallness. Entrepreneurs realize that due diligence and reliance upon their skills and honed intuition is far superior to paralysis by fear.

Do these characteristics resonate with you? Then join us in the great American dream of entrepreneurship!

Rob Garibay is a local business owner and business coach with 30+ years of business experience. Forward your business questions to: 405 573-6537 or robgaribay@actioncoach.com

How Technology Can Kill Your Business

nospam@dontspamme.com (Brad Fair) — Thu, 22 Jan 2009 05:53:00 -0600

For those believing that you will get ahead through the sole use of our pleasant technological advancements of today, I’ve only got two words for you, “Get Real!” Technology is the single-most hazardous substance available in your young entrepreneur toolkit: technology bites hard and draws blood; approach with extreme caution.

To understand this concept fully, examine our rapidly advancing technological breakthroughs for exactly what they really are:

People Replacers

Money Grabbers

Time Wasters

Before jumping to the promoted conclusion that technology will please all people by saving money and time, consider the fact that our largest age-class of consumers are soon to be senior citizens; people who expect and demand human contact within business dealings.

It is impossible to tell a senior aged person to change their expectations to suit you, this is disrespectful, and they will simply take their money (that you want) to a user-friendlier person. As our dominate society member’s age, issues and resources will realign to benefit the largest number of people… people who hate your automated phone systems.

While I understand that some young entrepreneur endeavors do not plan to market in the age-class of consumers that holds the most people and money, business is still all about money. With simple technologies, an office can function for years at “x” dollars while profits are pocketed. New technology requires constant upgrades, each more expensive than the last, putting a young entrepreneur further and further away from profits.

Another concern seen in keeping up with the rapidly changing new technologies is that somebody is constantly taking time away from their business duties for computer training and skills-upkeep classes… or, they are forced to hire an expensive professional to run the programs that are devoted to saving money and time. After the hours and money spent on keeping up with constant new technologies to run a business, who has time to go make any money?

And, this is how technology can kill your business. Young entrepreneurs often forget to view the total picture before running happily off to hop onto that media promoted merry-go-round of newer = better. If newer is always going to equal better, there is never an end to the cash and time outlay necessary to keep up with that lifestyle.

As Aldous Huxley once said, “Technological progress has merely provided us with more efficient means for going backwards.” To move forward in your business people must understand technology for what it is and stay away from the pitfalls that are associated with using it. Newer technology will never beat using your brains and some good ol’ fashioned hard work.

Three Questions Every Entrepreneur Must Ask

nospam@dontspamme.com (Brad Fair) — Tue, 20 Jan 2009 20:43:46 -0600

Straight out of the Harvard Review from Nov-Dec. of 1996, these questions are still relevant today. Of all of the businesses that start, a staggering number fail. Every time I hear the number of successful businesses, it lessens and lessens. I recall hearing most recently that one hundredth of one hundredth sounds about right. As a young entrepreneur, these three questions can help your chances of success by:

Looking into your definition of success (Where do I want to go?)
Mapping the road to success (How do I get there?), and
Addressing obstacles (Can I do it?)

Where do I want to go?

As an entrepreneur, you needs to consider what you want personally from the business(es) you start. Are you looking to get filthy rich? Have an outlet for creative talent? Spend more time with the kids, or on vacation? None of these are bad things, but each one lays a separate foundation for the company you will create.

Once you pinpoint what you want from your business, you should give serious thought to what it really takes to get there. If you're looking for filthy rich, you'd better be capable of the long term risks, late night hours, and delegation of your company. If you want to spend more time with the kids, or go on more vacations, realize that the way to do that is not by spending all day every day slaving over that next deliverable. You need to create a company that will facilitate those goals! I mention this under the "Where do I want to go" heading because you may need to reconsider your goals after considering the type of business you need to create.

How will I get there?

Be clear in planning how to get where you want to be. Account for geographic reach, policies, rates of growth, decision making, and financing the business. As Albert Einstein said, "You do not really understand something unless you can explain it to your grandmother." If you can't articulate your thoughts on how to get there, you should take a second (or third) look.

Make sure that your plan, whatever it may be, can generate sufficient growth and profit. If money is to business what ATP is to humans (think oxygen), then you'll need enough of it to keep going. Also, ensure that your plan accounts for the fact that "stuff happens." Over the next ten years, there will be significant technological change, political change, and economic change. You can't be prepared for everything, but having thought through what you can definitely helps.

Can I do it?

When I read this question, I instictively said "Yes!" After further consideration, this question is much more difficult to answer. Even if your strategy is flawless, it's worth nearly nothing if you can't execute. Can you get the resources you need to succeed? Can you help develop your employees to their fullest?

When asking this question, consider that you will need to establish the infrastructure to facilitate your company's operations. If you want to grow quickly and sell, you'll need to develop systems of delegation, financial management, and much more. If you are looking for freedom to spend time with your family, you'll need to ensure that your business can handle not having your undivided attention all the time.

Lastly, know that as your business grows, your role will likely need to change. You may start on the front lines, doing the day-to-day. As time goes on, you'll find that your role develops to a management role, where you spend your time training and teaching.

Summary

These three questions are admittedly extremely difficult, but they must be asked. Make sure to revisit these questions as time progresses - goals aren't static all throughout your life. Likewise, each of these questions build off the other two, so your answers may vary widely the next time you think about them.

Windows Vista Speech Recognition

nospam@dontspamme.com (Brad Fair) — Tue, 06 Jan 2009 00:35:35 -0600

Well it finally happened. My laptop was on the verge of crashing for half a year, and it finally met its fate. Luckily, my wife and I caught it before it happened, and purchased a Compaq computer from Wal-Mart for $470. It seems to be a steal so far. It came with Windows Vista Home Premium, and was relatively easy to set up.

I was excited about getting Vista, because I've heard so much about it speech recognition capabilities. I have been pleasantly surprised that its speech recognition is as enhanced as it is. It seems to be 85 to 90% accurate, and when it does make mistakes, they are relatively easy to correct.

The biggest difficulty that I have with Windows Vista speech recognition is that it does not recognize the way that I pronounce the word two. I suppose with more practice, it will start recognizing numbers as well as it does words.

One of the reasons that I was looking forward to Windows Vista's speech recognition: blogging. I dictated this entire post, and its accuracy astounds me still.

If you're the type of young entrepreneur that looks for faster ways of doing things, and you often find yourself in front of the computer, Windows Vista speech recognition may just be your friend.

How KFC Helps Me Succeed

nospam@dontspamme.com (Brad Fair) — Mon, 29 Sep 2008 05:51:00 -0500

I'm a big fan of Neuro-Linguistic Programming. I've used it to get out of some tight spots, to meet and befriend new people, and to get involved in some really excellent opportunities. Each of the skills I have learned in studying NLP have helped me make use of a model I learned called KFC. No, not that chicken company either - KFC is a model that helps you reach your goals. Here's the lowdown:

K - Know What You Want

Easy, right? Not always! To really get what you want, you have to know exactly what it is you want. An example is that of a person who wants a million dollars. There are a slew of ways to get a million dollars. You can borrow it. You can steal it (I don't recommend this one). You can work really hard all your life for it. You can borrow two million dollars and lose a million somehow. If all you really wanted was a million dollars, you've reached your goal. If, however, your real goal was financial freedom, or a million dollars in liquid assets with no other debt, you'll definitely not be able to use a few of the above methods to get there. Knowing what you really want is the first step of the process.

F - Find Out What You're Getting

Contiuing on with the million dollars mentioned above - if you want a million dollars of your own with no other debt, and yet your income is rapidly declining, you're definitely not moving toward your goal. You need to know what it is you're getting, and compare it to what you want.

C - Change What You're Doing To Get What You Want

This is the toughest of all three, but it makes perfect sense. If you want something but are not getting it, something has to change - you. What changes can you make to put you on the path to getting what you're looking for? Change what you're doing, and assess the results. If it helps you in the right direction, good job! This is the perfect place for Neuro-Linguistic Programming. I like to study those who have reached the same goals that I set for myself. I like to figure out what behaviors they have, and what has been critical in them reaching their goals. Wherever it makes sense, I try to make those behaviors part of my being.

As you change, your goals change. As your goals change, make sure to reassess the situation and see if you're getting closer to your new goals. This process is circular, and each of the three parts need to be considered regularly. If you feel so compelled, give me an example of what KFC can help you with!

New Hire Training

nospam@dontspamme.com (Brad Fair) — Fri, 26 Sep 2008 06:14:00 -0500

If you've found your business growing to the point that you no longer have a hand in the day to day grind, you might realize that there are several things concerning you about the way your employees handle business. These little annoyances can have a large impact on the company if not taken care of. I've seen excellent ways to set employees on the right track, such as incentive plans, meetings, and team development. Those work great for existing employees, but for new employees there's another way - New Hire Training!

Why Have New Hire Training?

New employees are excited from day one. They come to work eager to learn how everything comes together, meet new people, and make a good impression on their new place of business. If Day 1 confuses your employee with conflicting messages from different sources, they won't come back on Day 2 with the same attitude. If you channel their energy from the start to help create the results you're looking for, it's much easier to get consistently high quality work, and everyone is happier because of it.

What To Include In New Hire Training.

Ideally, New Hire Training will give your new employees the information they need to succeed in your company. This includes HR information such as time off, pay, the Org. Structure, specific legal requirements; it may also include any job specific information such as accounts, clients, ways to find information not covered in training. In my industry (Information Technology Consulting), new hires should learn how to quickly find almost any piece of technical information they are looking for. The old adage about teaching a man to fish is the sole purpose for New Hire Training.

What NOT To Include!

It's worth mentioning that there are a few things you don't want to include in your training:

What happens on your last day
What happened on somebody else's last day
Information that is not relevant to those being trained
Information your new hires already know

Your New Hire Training should be informative, interesting, involved, and a slew of other words beginning with i. Make sure you spend plenty of time developing your training plan, and ensure that it includes all of the information your new hires need to avoid the annoyances of the every day grind. After you train your employees, monitor their performance. See what information they retained. What information are they spreading to your existing employees? Are they able to help each other out? Once you've seen some areas of improvement, make note of them and include them in your next training class.

Used effectively, New Hire Training will help keep your company on track. It will help focus your new hires' energy towards the right things. It can create a culture of continuous improvement, and really set you apart from the competition.

The Patterns of Stagnation

nospam@dontspamme.com (Brad Fair) — Wed, 24 Sep 2008 06:08:00 -0500

I have an acquaintance with an excellent business idea, enough funding to be getting on with, and excited companies ready to buy his product, and yet is making $0 in sales. I have another acquaintance who hesitated submitting numbers that had too much speculation involved in them. Yet one more person I know doesn't like getting involved with anything until he knows everything about it. What do these three people have in common? I think the answer is that they are waiting for an event that can never happen.

Many young entrepreneurs get pretty wrapped up in their product or service. They insist that it must be just right before it is capable of making money. The truth is that it's better to have a mediocre something making a difference in people's lives than it is to have an excellent something making a difference in nobody's. For instance, I've developed a piece of software for websites that makes keeping your website up to date as easy as sending an email. I made it just for myself, and had no intention of selling it. I had a few people that found the same problems with their websites as I had with mine - they were time consuming to update. Having this program that I made, I was able to help them along with their sites. The software is nothing spectacular, it simply gets the job done. If I didn't release the software because I wanted it to be perfect, I don't think I would have ever completed it. It is more valuable being available to people in its simple form than it is not being available at all because it's not yet perfect.

If I can impress upon you any single piece of advice for your company or idea, it's this: DO IT. Don't wait for some idea of perfection. Make it good enough to have value, and get it out there. If you're capable of making it fantastic in the same time period, then do that too. Then, let your customers tell you what there is to improve, and improve!

Knowing Yourself and Your Competition

nospam@dontspamme.com (Brad Fair) — Mon, 22 Sep 2008 05:57:00 -0500

In the military--
Knowing the other and knowing oneself, in one hundred battles, no danger.
Not knowing the other and knowing oneself, one victory for one loss.
Not knowing the other and not knowing oneself, in every battle certain defeat.
-- Sun Tzu

The Art of War is an interesting text about competition. Its advice is applicable to competition in every fashion, and especially helpful to the young entrepreneur. If you haven't read it, I recommend getting it as soon as possible. Sun Tzu's quote above has a few interesting ideas packed into it.

Not Knowing Your Competition or Yourself

It is pretty easy to see that if you don't know your competition or yourself, you're doomed for failure. If you don't know what decisions you are capable of making, what your "army" is capable of doing, or what you have going for you, you can't possibly know how to compete against others. If you find yourself in this category, start working now to understand you and your company, and how things are tied together. That'll at least take you away from certain defeat and towards an even playing field.

Knowing Yourself, Not Your Competition

If you know yourself and not your competition, Sun Tzu says you'll win one for every loss. This is where most companies fit (else the odds would be different). Here, you know what you're capable of, what you can do and can't do, and how to act on that information. If this is where you are at, you definitely have some room for improvement. The best way to win in a competitive market is to know the market, its players, and the moves that each are making. You can see that knowing where things are headed gives you a great advantage, and knowing how you can use that information (that is, knowing yourself) gives you much much more.

Know Your Competition and Yourself

Knowing your competition and yourself is the ideal place to be. Here, you can see the market's moves, and act on them accordingly. You know what your company is capable of doing, and can find ways to use the market's movement to your benefit. This is a prerequisite for much of the advice in the book The Art of War. If you aren't at this point yet, take some time to learn as much as you can about your industry and the people in it. Learn about your competitors' decisions, and how/why they are made. See what openings there are in the market - where people aren't, where people are but don't want to be, and why. Armed with this knowledge, you can put your company in a positive position in the market, and have a good time getting there.

How To Accept a Résumé

nospam@dontspamme.com (Brad Fair) — Fri, 19 Sep 2008 05:57:00 -0500

As a young entrepreneur, you may find yourself in a position where you begin accepting résumés. If you've ever spent time creating a résumé, you might remember how much time you spent on it. If you are anything like me, you may have ensured that you used high quality, watermarked paper. You probably spent a good 30 minutes making sure that no ink was smeared, the watermark was as close to the center of the page as possible, and that when held up to the light, it was readable from left to right. When you accept a résumé in person, remember your experiences creating one. Here's a list of what you should consider doing when given a résumé:

Smile
Sincerely thank the applicant for their interest
Review the résumé for a few seconds while they are there to let them know that you will at least read it

Here's a list of what you should NOT do when given a résumé:

Frown
Fold or crease the résumé
Set it upside down on a big stack of papers
Give the applicant the impression that it will not be read
Throw it away

What other items can you think of to add to the lists of "do" and "don't" above?