becoming a better entrepreneur

Making Decisions Based On Best Information

I planted some frost-sensitive plants
in the garden this weekend.

According to the weather forecast,
there should be zero chances
of frost
over the next two weeks.

That forecast could be wrong, however.
It IS a forecast,
not an absolute.

But I had to make a decision
and it is the best information
I have at this time.

We all have to make decisions
for our businesses
based on the best information
we currently have.

That information could also
be wrong.
And we’ll have to
hastily make some corrections.

That’s part of building a business.

There are no absolutes.

Make the best decisions you can
based on the best information
you currently have.

And move forward.

You’re Not A Billionaire. Yet.

I’ve posted in the past about
how being approachable
benefits
our businesses.

People tell us
useful sh*t.

But, but,
you say,
‘X isn’t approachable
and he’s a billionaire.’

You’re not
a f*ckin’ billionaire.
Yet.
Billionaires play by their own rules
because they’re the people
creating the rules.

And yes, X is a total d*ck
but I suspect he has people
working for him
who are more approachable.

You and I are
building our businesses.
People are more likely
to be within arm’s reach
of us
than of X billionaire.

We should try
our d@mnedest not to be d@cks
to our customers.

Be Approachable

The formatting on a buddy’s book
went terribly wrong.

One of the earliest readers
contacted her immediately.

My buddy corrected the problem
so quickly
most of her other readers
didn’t realize
there had been a problem.

Another writer told her
she was ‘lucky.’
That writer had the same problem
and she didn’t find out about it
until she had received a bunch
of 1 star reviews
and investigated.

Luck is always a factor
but it wasn’t purely luck.

My buddy is approachable.
Readers feel comfortable
coming to her
with issues.

The ‘unlucky’ writer
has a reputation
for yelling at readers.
Very few people
approach her
about anything.

Be approachable.
Or ensure SOMEONE high profile
is approachable
in your business.

That will help you
retain customers.

Review The Year

Before we start
setting goals
for 2024,
we should take a day or two
and review 2023.

We should look at what worked
and
what didn’t work.

We should ask ourselves questions
like…

What added value to our business?
What was extra but nice to do/have?
What doesn’t add value in any way
and should be stopped?

Which partnerships are working well?
Which partnerships aren’t working ideally
but can be saved?
Which partnerships aren’t working at all
and should be severed?

Where did most of the income come from?
Can that income be increased?
Can our income be diversified
without decreasing that core income?

What mistakes were made?
How did we recover
from those mistakes?

What were the huge successes?
How can we duplicate
those successes?

Etc.

Take some time
and review 2023.
That will increase our odds
of success in 2024.

They Don’t Make X Like They Used To

Once I hear an expert
say
“They don’t make
[music or movies
or cars or other products]
like they used to”,
I no longer take their advice.

I continue
to listen to their thoughts
about history.
A knowledge of history
leads to better decision making.

But I discard
their thoughts on the present
and on the future.

Because they don’t understand
how the world has changed
and why entertainment
and products have changed
around them.

That expert isn’t living
in today’s world.
They’re living in the past.

I don’t need advice
about the past.

Ensure you’re listening to
advisors
who understand today,
not merely yesterday.

Staying Current

A buddy posted
“You know you’re old
when you recognize
more songs in the grocery store
than you do on the radio.”

That should read
“You know you’re out of touch…”
because if we stay current,
if we continue to
listen to the latest songs,
we WILL recognize the ones played
on the radio.

It is ‘work’
to stay current,
whether we are
20 years old
or 80 years old.

If we’re older,
especially,
the songs, TV shows, latest fashions,
hot new colors
aren’t designed
for our demographics.
It takes research
to understand their appeal
and their full meaning.

But if we want to stay relevant
and if we want our businesses
to stay relevant,
we have to gain
that understanding.

Do the work.
Stay current.

Adding To Your Project Checklist

I have checklists
of all the things
I need to know
or do
or gather
for each type
of project.

I add to these checklists
during or after
each project.

For example,
I tried growing bell peppers
directly in the garden
this year.
That was a disaster.
The slugs ate them.

So I added
“Grow all bell peppers
in containers.”
to my gardening project checklist.

Before starting a project,
I’ll review the appropriate checklist
for that type of project.

In the Spring,
for example,
I’ll review my gardening checklist.

I’ll see
my note about growing peppers
in containers.
Do that.
And my chances of a great pepper harvest
will greatly increase.

Our lives
are already extremely complicated.

Make projects easier
by keeping checklists.

They will ensure
we learn from mistakes
and that will increase
our probability of success!

The Benefits Of Multi-Generational Advisors

Most mentors are older.

They have more experience.
They’ve learned sh*t
they want to pass on
to others.
And they are often
in giving back mode.

But many of
our prospective customers
are younger
than those mentors.

These prospects have
different life experiences,
different expectations,
different ways of communicating,
of finding possible products/services.

If all our advisors
are older,
we might not know
how to reach
these younger prospective customers.

Add people from EVERY generation
to your list of advisors.

An advisor doesn’t have to be
older or have more life experiences.

They merely have to know
sh*t we don’t know
or
have a different perspective
on our issues.

The Truth Teller

The no-topic-meeting-setting manager
I talked about yesterday
either
1) didn’t know
the trauma he was inflicting
on his employees
or
2) was deliberately
inflicting trauma
on his employees.

In both cases,
he would have benefited
from someone
who telling him
he was f*cking up,
someone
who would have pointed out
he was being
a sh*tty human.

We all need a truth teller,
someone we respect
and listen to
who will inform us
when we’re f*cking up.

And we ALL f*ck up
from time to time.

The truth teller is an essential part
of successful people’s teams.
We NEED to do better.
We NEED to stop making
costly mistakes.

When you find a truth teller,
protect them
from others
but mostly from yourself.

Rant into the empty sky
about their feedback later.
Shut up
and listen to them
when you’re face-to-face.

Find your truth teller.
Then protect them.