Delvin R. Chatterson's Blog, page 10
November 23, 2016
Trump election lessons for your business
Democracy makes for bad decisions?
The recent election of Donald Trump was a shock and a disappointment to many of us. The political analysts and commentators, experts and amateurs, will debate it intensely for weeks and intellectually for decades.
But what have we learned for our businesses?
Here are some discussion points that I suggest you can share with your management team, the next time they stray off the topic and insist on talking about the recent election, instead of the business issues of the day.
Democracy does not always deliver the results you expect or want.
Be careful of the limited choices that you offer.
The most popular choice is often not the best choice.
Leadership needs to listen. But empathy is not enough. Without an effective response to the complaints you will be labelled as weak and ineffective and risk being replaced.
Stop talking to, and listening to, only the people who agree with you.
Stop assuming that you can persuade people by logical arguments. Do not write them off as ignorant or irrational. Recognize they are influenced differently from you.
You cannot persuade your opponents to change by using the influencers and channels of communication that they do not trust.
Reasons for making a particular choice are volatile, unpredictable and not always subject to explanation or analysis, by the experts or the voters themselves, before or after the fact.
Plato said it first: “Beware of democracy: ordinary people are too easily influenced by the emotional and deceptive rhetoric of ambitious politicians.”
Effective leadership has a responsibility to make difficult decisions, explain them satisfactorily, implement them effectively and ensure that any negative consequences are adequately addressed.
Winston Churchill graciously defended democracy after losing his bid for re-election in July of 1945, “Democracy is the worst form of government, except for all those other forms that have been tried from time to time.”
He may have been right about government and we should all exercise our democratic right to vote and defend and protect our democratic institutions.
But in your business, good management is a better idea than taking a vote.
Your Uncle Ralph, Del Chatterson
Read more at: Learning Entrepreneurship Blogs .
The Seven Biggest Mistakes and How to Avoid Them
Find the Exit before it’s an Emergency
When to Launch Your Business
The Four P’s of Salesmanship: “You wanna buy a book?”
Join our mailing list for more ideas, information and inspiration for entrepreneurs.
Click Here to check out Uncle Ralph’s books, “Don’t Do It the Hard Way” and “The Complete Do-It-Yourself Guide to Business Plans” Both are available online or at your favourite bookstore in hard cover, paperback or e-book.
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November 3, 2016
Choosing your response
Strategic or Operational?
Entrepreneurs are by nature action-oriented and they trust their instincts. So they are quick to assess any new challenge and decide on a response immediately. But before leaping into action, it is important to ask yourself an important initial question: It is a strategic issue or operational issue?
The answer will help you make better decisions about both the immediate response and the long-term action required.
Consider this example: You’re about to complete your month-end reports when suddenly your system freezes then crashes and you cannot access the files again. Sounds like a crisis that needs urgent action, right? But before you launch into the operational solutions and call tech support, run the back-up, or install a software patch, ask if there is a strategic issue to be resolved here. Especially if this has happened before.
Have you outgrown the software? Is your hardware sufficiently robust and reliable? Are the staff adequately trained? These are long-term issues that may need to be addressed. The problem may need to be fixed now, but how can we prevent it happening again? What needs to change?
And most importantly, what have we learned that we can apply in response to future challenges.
Keep learning, to be better and do better.
Your Uncle Ralph, Del Chatterson
Read more at: Learning Entrepreneurship Blogs.
The Seven Biggest Mistakes and How to Avoid Them
Find the Exit before it’s an Emergency
When to Launch Your Business
The Four P’s of Salesmanship: “You wanna buy a book?”
Join our mailing list for more ideas, information and inspiration for entrepreneurs.
Click Here to check out Uncle Ralph’s books, “Don’t Do It the Hard Way” and “The Complete Do-It-Yourself Guide to Business Plans” Both are available online or at your favourite bookstore in hard cover, paperback or e-book.
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October 29, 2016
Whose business is it anyway?
All these people want a piece of meYou thought you were the owner of the business and did not have to share with anyone else? Sorry, that’s not how it works.
Your business is essentially an economic entity in the social order, but you cannot ignore all the implications for society at large and the expectations of all the other stakeholders who are not shareholders.
Here’s the list: employees, customers, suppliers, and the bank; the landlord, the city, the province or state and federal governments; industry and professional associations, regulatory and environmental authorities. Essentially everyone you work with expects to be paid their fair share and for you to take care of them, their families, the community and the planet.
And of course your friends and family are also counting on you to do well, so you can treat them well. Especially if you still owe them some of that love money that got you started.
Such is life in the real world. Work hard, do well and prosper, but remember your obligations as an enlightened entrepreneur,
Your Uncle Ralph, Del Chatterson
Read more at: Learning Entrepreneurship Blogs.
The Seven Biggest Mistakes and How to Avoid Them
Find the Exit before it’s an Emergency
When to Launch Your Business
The Four P’s of Salesmanship: “You wanna buy a book?”
Join our mailing list for more ideas, information and inspiration for entrepreneurs.
Click Here to check out Uncle Ralph’s books, “Don’t Do It the Hard Way” and “The Complete Do-It-Yourself Guide to Business Plans” Both are available online or at your favourite bookstore in hard cover, paperback or e-book.
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October 27, 2016
Ready to Play is Not Enough
Ready to win is the question
Just ask Tiger. He’s almost ready to come back to competition, but not yet. He could play now, but not well enough to win, he thinks.
Are you playing just well enough to get in the game or are you ready to win?
Ready to compete is the first step and requires a minimum level of learning, practice and development, in business and in golf.
The next step is pushing your skill and performance to compete in the big leagues against world class competitors.
It will require another level of ambition, determination and hard work. Are you ready for that?
Your Uncle Ralph
Read more articles like this one at : Business is Like Golf Blog
Friendly Competition Inspires Everybody
Stories behind the headlines
Match play: Beating one competitor at a time
Visit LearningEntrerpreneurship.com and join our mailing list for more ideas, information and inspiration for entrepreneurs.
Check out Uncle Ralph’s books, “Don’t Do It the Hard Way” and “The Complete Do-It-Yourself Guide to Business Plans” Available online or at your favourite bookstore in hard cover, paperback or e-book.
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October 4, 2016
Pressure improves performance
Raising the stakes may help you too
Compared to the recent disappointing Olympic golf tournament, the Ryder Cup was a tremendous spectacle of high performance under pressure. Drama and excitement for three days of competition. At the Olympics, the golf event was a complete failure. The best golfers did not go, the spectators did not care.
At the Ryder Cup Last weekend, a tradition since 1927 matching the best American golfers against the best of Europe, the golfers were excited to make the team and determined to play their best in front of 50,000 wildly enthusiastic fans.
The individual performances were outstanding in spite of the screaming fans and high stakes, by the end of three days of head-to-head competition every player had shown his best talents. There was no prize money at stake, only the right to claim a small trophy for the winning team. But as Tiger Woods said, “we always play for pride, this is just bigger because we’re playing as a team.”
Patrick Reed and Rory McIlroy on the last day played one of the most epic battles ever seen on a golf course. It was a like a heavy-weight bout with the two of them pounding at each other on every hole and pumping up themselves and the fans along the way, while demonstrating the courtesy and etiquette of golf by respecting each other and loving every minute of the contest. Never a better performance to attract golfers and fans.
Playing as a team is unusual for golfers. Golf is normally very focused on individual performance. Striving for the best score on the hole, the day and the tournament, then on to the next one. The golfer has only to meet his own expectations, any pressure is primarily imposed on himself. The Ryder Cup is an opportunity only once every two years to be selected to a team of the best twelve golfers to play together in front of the world. But the high pressure and focus on team effort seems to lead to exceptional individual performance.
Maybe raising the stakes and then performing in public will motivate your team to run a better business. It may be as easy as setting more ambitious competitive objectives and then exposing the performance and contributions of all team members.
Another lesson from golf for your business?
Your Uncle Ralph, Del Chatterson
Read more articles like this one at : Business is Like Golf Blog
Friendly Competition Inspires Everybody
Stories behind the headlines
Match play: Beating one competitor at a time
Visit LearningEntrerpreneurship.com and join our mailing list for more ideas, information and inspiration for entrepreneurs. Check out Uncle Ralph’s books, “Don’t Do It the Hard Way” and “The Complete Do-It-Yourself Guide to Business Plans” Available online or at your favourite bookstore in hard cover, paperback or e-book.
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September 29, 2016
Let’s take the politics out of it
Make better decisions
We seem to be in an era described by commentators as post-reality politics. It’s all about making the pitch and telling a compelling story. The politicians have learned that successful marketers are the best storytellers.
But, they have also learned they can they can make the sale even if the story is complete fiction. The listeners are buying it. The critics and fact checkers are ignored or accused of bias. The lies and invented narratives are not unique to Trump or Republicans and although most effectively demonstrated by Nixon, Reagan and the other Clinton, the tactics have been used for a century. It’s important to have a good story to support the political arguments, so “creativity” is justified.
Unfortunately for voters, there is no consumer protection or return policy. Just watch, wait, and hope for the best, until the next election.
So in politics, as in business and life, let’s make better decisions based on the ideals not the ideology, the facts not the fiction, the reality not the rhetoric, the answers not the anger, and the principles not the personalities.
We’re all counting on you.
Your Uncle Ralph, Del Chatterson
Read more at: Learning Entrepreneurship Blogs.
The Seven Biggest Mistakes and How to Avoid Them
Find the Exit before it’s an Emergency
When to Launch Your Business
The Four P’s of Salesmanship: “You wanna buy a book?”
Join our mailing list for more ideas, information and inspiration for entrepreneurs.
Click Here to check out Uncle Ralph’s books, “Don’t Do It the Hard Way” and “The Complete Do-It-Yourself Guide to Business Plans” Both are available online or at your favourite bookstore in hard cover, paperback or e-book.
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September 27, 2016
Dramatic finish for the FedEx Cup
Severe tests of skill, strategy and nerve. Just like your business.
Proving he is definitely back, Rory McIlroy came from behind to win the PGA Tour Championship and the FedEx Cup on Sunday. It was a big win worth a total of $11.5 million.
And he took it all from Dustin Johnson, who had been the clear FedEx Cup and tournament leader until the last day. Johnson was dominating with a combination of long accurate drives and a reliable short game, hitting them close and rolling in the putts. It started to fall apart on Saturday and he had the worst round of the day on Sunday to fall from the lead to fifth place.
Before the final playoff rounds at the Tour Championship, any one of the Top 5 in FedEx Cup standings for the year could have won the $10 million bonus by winning the final tournament (and another $1.5 million in prize money). The five were Dustin Johnson, Patrick Reed, Adam Scott, Jason Day and Paul Casey. McIlroy was standing sixth, just ahead of Jordan Spieth. By the last round, Day had withdrawn due to a back injury, Scott, Casey and Spieth were well back and out of the running.
McIlroy was coming up fast, but needed Johnson to falter for him to win the tournament and the FedEx Cup. Johnson opened the door, but two new challengers suddenly appeared with chances to win the tournament themselves. Kevin Chappell started the last round tied with Johnson, but left him well behind with a 4-under par for 68. McIlroy was playing with Ryan Moore and they both gained four strokes with final rounds of 64 to tie Chappell for a sudden death three-way playoff at 12-under par.
That’s where it got complicated. If either Chappell or Moore won the tournament, then Dustin Johnson would still win the FedEx Cup by a few points. If McIlroy won the tournament, he would also gain enough points to win the FedEx Cup too. Over a challenging four holes in the playoff, he did just that.
It was exciting drama to watch. Complicated scenarios with unmanageable variables and severe tests of skill, strategy and nerve.
Just like running a business.
Your Uncle Ralph, Del Chatterson
Read more articles like this one at : Business is Like Golf Blog
Friendly Competition Inspires Everybody
Stories behind the headlines
Match play: Beating one competitor at a time
Visit LearningEntrerpreneurship.com and join our mailing list for more ideas, information and inspiration for entrepreneurs.
Check out Uncle Ralph’s books, “Don’t Do It the Hard Way” and “The Complete Do-It-Yourself Guide to Business Plans” Available online or at your favourite bookstore in hard cover, paperback or e-book.
The post Dramatic finish for the FedEx Cup appeared first on Learning Entrepreneurship.
September 22, 2016
The Wanna Be Market
Are you the hunter or the prey?
Have you noticed how many serious businesses are marketing hard to the Wanna Be market? Wanna be a writer, movie star, professional athlete or internet millionaire? Buy my stuff.
Appealing to everyone who has a dream and is looking for the short-cut to realizing it. Stroking egos and offering to share the secrets, there is a constant barrage of pitches to keep the dreamers spending money and chasing the dream.
The super-spammers continue teasing us with guaranteed success for only $9.97, or $397, or $1997. But now the offers for fast, cheap and “guaranteed” solutions are also coming from Amazon, Shopify and dozens of other mainstream suppliers. Every celebrity guru, pop star, athlete and coach has advice to sell on how you too can be rich and famous, just never give up on your dream.
My advice is to do less dreaming and dig a little deeper into the case studies and testimonials. You’ll find that the real secret, beyond having a dream, is having the talent, doing the hard work and being effective at marketing and promotion. Then a little luck and strong endorsements will help. There is no guarantee, but if you can check off all those requirements, then you are well along the path to realizing your dream. If not, then find a new dream that you can succeed at. It is always a question of finding what makes you unique, what you are good at and what you like to do. Those three make the winning combination.
Of course, marketing to the Wanna Be market has always been here. Convincing consumers that they have to have the product to be happier, healthier, more cool, beautiful, or successful has always been part of persuasive marketing tactics.
You know it works, but the next time you recognize it, check whether you are using it or being used.
Are you the hunter or the prey?
Your Uncle Ralph, Del Chatterson
Read more at: Learning Entrepreneurship Blogs.
The Seven Biggest Mistakes and How to Avoid Them
Find the Exit before it’s an Emergency
When to Launch Your Business
The Four P’s of Salesmanship: “You wanna buy a book?”
Join our mailing list for more ideas, information and inspiration for entrepreneurs.
Click Here to check out Uncle Ralph’s books, “Don’t Do It the Hard Way” and “The Complete Do-It-Yourself Guide to Business Plans” Both are available online or at your favourite bookstore in hard cover, paperback or e-book.
The post The Wanna Be Market appeared first on Learning Entrepreneurship.
September 14, 2016
Every business is a social enterprise
It’s an evolution of the community
The term “social enterprise” is starting to get annoying. Over-worked jargon used to make entrepreneurship in general or a particular business seeking support appear more appealing and acceptable to a cynical public that sees every business as evil and driven by the sole objective of making money for the executives and the owner/shareholders.
Often the promoters of social entrepreneurship come across as “holier than thou,” suggesting “I’m a good person and you are not, you filthy capitalist.” Maybe I’m being too cynical, but let’s dig a little deeper before giving one entrepreneur more credit than another for being socially responsible. Attaching a label does not answer all questions.
Let’s define a social enterprise as one whose primary objective is to address social issues. It can still be a good, sustainable and profitable business. And there is every reason to be optimistic that entrepreneurs can apply their skills in leadership, management and innovation to deliver effective solutions to social problems.
Is every charitable organisation or non-profit effective as a social enterprise? No. Some are corrupt, some are incompetent. Some pay their executives more than any profit-oriented enterprise could justify. So their positive impact on society and social issues is actually less than the enlightened business that recognizes its responsibilities to employees, customers, suppliers, strategic partners, its community and the planet, and responds effectively.
Is every profit-oriented business an evil enterprise creating social problems? No. But some are greedy, selfish, or incompetent and they do exploit employees, customers, suppliers, strategic partners, their communities and the planet. Fortunately they will not last.
The future will be better with both social enterprises and enlightened entrepreneurship.
Let’s speed up the process of natural selection, by supporting those that meet the criteria of having a positive impact on society. Let the others go extinct.
Your Uncle Ralph, Del Chatterson
Read more at: Learning Entrepreneurship Blogs.
The Seven Biggest Mistakes and How to Avoid Them
Find the Exit before it’s an Emergency
When to Launch Your Business
The Four P’s of Salesmanship: “You wanna buy a book?”
Join our mailing list for more ideas, information and inspiration for entrepreneurs.
Click Here to check out Uncle Ralph’s books, “Don’t Do It the Hard Way” and “The Complete Do-It-Yourself Guide to Business Plans” Both are available online or at your favourite bookstore in hard cover, paperback or e-book.
The post Every business is a social enterprise appeared first on Learning Entrepreneurship.
September 8, 2016
Qualifying Questions
Is it Strategic or Operational?
Before leaping into action, it is important to ask yourself some qualifying questions and make better decisions about both the immediate and the long-term action required.
Entrepreneurs are inclined to act instinctively and “just do it” when they are presented with a new challenge, opportunity or problem. No time wasted. Let’s not make it complicated. Generally, that’s an important trait for making progress quickly. But often, a quick assessment of the strategic and operational issues will lead you to better long-term results.
Think about it. Your wagon was rolling smoothly down the track, but on the last curve it suddenly flew off the rails. It happens, right? Well, before you yank it out of the ditch, set it back on the rails and push it down the track, ask yourself some qualifying questions. First operational, then strategic.
Is there a flaw in the track or something broken on the wagon? Does it need to be fixed now? How can we prevent it happening again?
Then, are we on the right track? With the right wagon?
What needs to change?
And most importantly, what have we learned that we can apply to future challenges. Keep learning, to be better and do better.
Your Uncle Ralph, Del Chatterson
Read more at: Learning Entrepreneurship Blogs.
The Seven Biggest Mistakes and How to Avoid Them
Find the Exit before it’s an Emergency
When to Launch Your Business
The Four P’s of Salesmanship: “You wanna buy a book?”
Join our mailing list for more ideas, information and inspiration for entrepreneurs.
Click Here to check out Uncle Ralph’s books, “Don’t Do It the Hard Way” and “The Complete Do-It-Yourself Guide to Business Plans” Both are available online or at your favourite bookstore in hard cover, paperback or e-book.
The post Qualifying Questions appeared first on Learning Entrepreneurship.
