How do you get your new business known?

One of the major challenges for any start-up is getting your name out there before the people.  This is especially difficult if you do not have a brick-and-mortar store.  If one opens a retail store, puts up a big sign on the front, then it is likely that people will see the name of your business as they drive by.  But, you better hope that they do more than drive by.  They better be stopping because you've got a lot of money tied up in rent, utilities, insurance, product, labor, and the other expenses of operating a business.  In our community I see a lot of small businesses open up and close in less than a year because they lacked the capital to remain open while they built their business and their business did not generate enough income to cash flow the business during that start-up.

I don't have a building with a big sign and a lot of monthly expenses.  I am starting an auction business.  I can conduct auctions on-site or I can rent a facility for a couple of days to conduct my auctions.  Like many service businesses my start-up costs are minimal.  I like that because that means there is less risk, but it also makes it more difficult to get my name out to the public.  There are dozens of auctioneers in the area in which I live, but 4-5 of them gets the majority of the auction business.  That handful have been in the business many years and enjoy top-of-the-mind awareness with people considering selling at auctions.  So what can someone like me do?

Naturally, I pass out business cards whenever possible.  I run the occasional ad in some of the surrounding papers.  And, I try to be in front of the public whenever possible.  That means I often work for some of the 4-5 auctioneers I mentioned earlier.  Sometimes I'm on the payroll, and sometimes I just jump in and help work the ring for free.  Although these are competitors of mine, they are also colleagues and are willing to recognize me and my auction business.  Any time I'm working an auction for another auctioneer they always announce who I am and that I recently received my auctioneer's license. They allow me to showcase my abilities both in the ring and with the microphone.  This past Saturday I assisted one auctioneer, and when that auction ended I went to another event where I had agreed to do a charity auction.  They only had three items to sell, but they made some money for the organization, and everybody had a good time with the music group that played before and after the auction.  Between the two events I was able to showcase my auction talents to about 300 people.

Giving away samples of your product or service may not seem like the most profitable thing to do, but it is a way to help people become aware of what you offer.  If you touch enough people with your product or service you will eventually begin to turn some of them into clients who will purchase those items or services.  This does require patience and time.  Trying to be an overnight success in any business endeavor is more likely to result in failure.  Take your time. Connect with people. Let them experience how your products or services can benefit them even if you have to give them away at the start, and eventually you'll find that your business will become known to the public.

What can small businesses learn from yard sales?

If I have some spare time on Friday or Saturday mornings I'll hit a few yard sales to find items to sell in my booths or at auction.  Sometimes one can find some amazing buys at a yard sale.  Occasionally, we'll hear a story of someone who bought a picture at a yard sale for a few dollars only to find our later it was worth thousands of dollars.  That's never happened to me, but one can always hope!

My actual experience with yard sales has been rather disappointing because of the way too many people approach them.  I was recently at a sale that was advertised to start at 8:00.  I arrived at 8:05 and they were still carrying things out.  In fact, they hadn't even set up all the tables yet.  Nothing was priced.  Most items at a yard sale are negotiable, but it's nice to have some idea of what the people want for them.  I've made it a policy that I don't buy items at a yard sale that are not marked, and I certainly didn't have time to wait for them to drag everything out of their house they were going to sell.  I left.  The sale lasted three days, and on the last day I drove past their house on my way to a meeting.  It looked like they sold very little.  Like more and more of the yard sales I attend, they did not prepare for their sale.

I usually have one yard sale each summer, and I begin preparing for it a week in advance.  I purchase my newspaper ads, clean out the garage, and begin setting up tables.  By Tuesday I am already unpacking boxes and setting items out on the tables.  By Wednesday everything is priced and clearly marked.  On Thursday I go to the bank and get the money I will use for change and make sure everything is ready.  Large items are sitting next to the garage door ready to pull out the next morning.  At 7:45 I open the garage doors and move all the big items outside, and we are open for business.  There are usually some early birds sitting in their cars ready for the doors to open, and I am ready to serve them.

I find some small businesses operating like each of the yard sales I've described.  Some are clearly not prepared for business.  They make it difficult for their customers to do business with them due to their operating hours, their credit policies, or their personnel.  They make people who want to buy from them feel like they are interrupting something the employees feel is more important.  I recently stopped in a restaurant and asked for the lunch special.  It was only 11:30, and they were already out of the special.  Not ready for business.  Such businesses often struggle to be successful and wonder why.

On the other hand there are those small businesses that are ready every day to do business with their customers.  They are prepared when their customers arrive.  Everything is set up to make their customer's buying experience a great one so they will not only come back but will tell others about their great experience.  What's the difference between the small business that is ready for business and the one that isn't?  Preparation.  The successful small business will take the time to make sure everything is ready when the doors open every day.

Lessons I'm learning from the auction business

Since getting my auctioneer's license earlier this year I have yet to list my first auction.  This is a tough area in which to break into the auction business as we have dozens of auctioneers in a small geographic area.  Despite the large numbers of auctioneers four of them dominate most of the auction business.  Everyone else is left to fight over the remaining auctions that those four do not get.  I've been fortunate to have had the opportunity to work for several of the area auctioneers, including two of the main four, and I've learned a lot about the business that has applications for any small business.

A couple of weeks ago I worked a six hour auction for one of the primary auctioneers in the area.  I could not believe how much came out of a relatively small house that was to be sold that day.  It took six hours of hard selling, at times running two rings, to get everything sold, but at the end of the day both the seller and the buyers were pleased.  We were focused on what we were doing, and we worked hard to make the sale a pleasant experience for everyone, and we succeeded.

Contrast that with another sale I attended a few months ago.  This sale had a number of consignors with one person providing the bulk of the sale items.  The items he brought were also much more highly desirable than most of the other items we sold that night.  At the end he was not pleased with how the sale ran.  He felt too much time was spent selling less desirable items while some of his merchandise was left unsold at the end of the sale.  I would agree with his assessment.  People were allowed to spend too much time describing items with little value which not only meant that there was not time to sell everything, but people became bored and began to leave.  Fewer buyers mean less bids which means less money for everyone.

I attended an auction a few weeks ago that had a lot of desirable items for sale.  I purchased a number of them to resell in my antique and flea market booths.  The sale was conducted by an auctioneer that was engaging and who had a crew that knew what they were doing.  They moved a lot of merchandise that night, and I would think that most people left there feeling good about the sale.

The week before that auction I was asked to auctioneer at an auction house when their regular auctioneer could not make it.  When I arrived I was amazed at the poor quality of the merchandise they were going to sell that night.  Much of it was junk.  A decent crowd showed up for the sale, but few of them were bidding.  It was very hard to get more than a dollar or two for anything we sold.  We could not get a bid on several of the items.  After about an hour the owner of the auction house asked me what I thought we should do.  I responded, "I would shut it down.  Neither you nor anyone else is making any money here tonight."  That's what he did.  I've been told since that they have closed the auction house at least for the remainder of the summer.

What lessons can be learned from these various auctions?  One, regardless of what business you are in, you have to sell quality goods and services.  There are some people attending auctions looking for cheap items they can buy and resell to make a little money on, but even these folks have a threshold they won't cross.  Even junk buyers won't buy some junk!  If you cannot sell quality items or provide a quality service, you will not be successful in any business venture.

A second lesson is that you need quality people in your company.  I know many auctioneers who would have taken two or three sales to sell what we sold in that one six-hour auction.  The reason we could sell that much merchandise is because of the quality of the people that auctioneer has working for him.  I was the least experienced person there that day.  Everyone knew their role and knew what needed to be done.  The difference between satisfied clients and dissatisfied ones is often the quality of the people who work for you.

A third lesson is the importance of having a good reputation.  The best auctioneers attract the best merchandise because they have the reputation of getting top dollar on what they sell.  If someone needs to sell an estate or has good quality items to consign, they will automatically go to the person they believe will get them the most money.  Some auction houses are known as $2.00 auction houses because that seems to be what they sell a lot of merchandise for.  These companies are unlikely to get a lot of quality sales with that type of reputation.  I have decided to not do any more auctions for that last auction house I mentioned even if they do re-open because I don't want to be associated with that type of company.  These are nice, Christian people, but they do not know how to run an auction business, and I don't want to get the reputation of being a $2.00 auctioneer.

The final lesson I'll cover in this post is the importance of being a people person.  Auctioneering, like most business endeavors, is about being good with working with people.  The best auctioneers I've met have been outgoing, friendly, and honest in how they deal with people.  On the other hand, I've seen some who are petty, unfriendly, and less than honest.  Some seem to be very insensitive towards their buyers which I do not understand.  Why would any business person want to alienate the people who want to give you money?

Fortunately, I have a good job that gives me the freedom to break into this business slowly.  I hope I'm learning a lot about the business that will do me well when I do get my first auction.  If you have an estate in southern Indiana or some good quality items you want to consign at auction, get in touch with me.  I do believe you'll be pleased with my service, and you'll be hard pressed to find anyone who will work harder to make your sale a success.

First you have to start

Image courtesy of FreeDigitalPhotos.net

 

"No one aims for average.  No one sets out for status quo.  No one longs for ordinary.  But one day you wake up and ask yourself, How did I get here?"  These are the words on the inside flyleaf of Jon Acuff's book Start: Punch Fear in the Face, Escape Average and Do Work that Matters.  They are words that many of us have said and might even be saying now.  We say them when we hit those transitions times in our lives.  We say them again when we wake up one day and realize that it is going to be like every other recent day, and we're just not sure we can take it anymore.  We repeat them when something triggers thoughts of unrealized dreams, and we wonder if it's now too late to make them a reality.

Most people intend to do something significant with their lives.  I doubt that there is anyone who hasn't had big dreams and had every intention of fulfilling them sometime.  Of course, that is the key word here isn't it: sometime.  Too many of us are content to live on Someday Isle.  Someday I'll start that business I always wanted to own.  Someday I'll complete that degree.  Someday I'll spend more time with our children.  Someday I'll get serious about getting our finances right.  Someday I'll focus more on exercise and healthy eating.  Someday I'll....

The problem is someday never comes, and one day we realize that the opportunities to do those things we dreamed about are behind us.  In his book, Acuff writes that fear is one of the primary reasons we don't seek to live out our dreams.  We are afraid of the unknown.  We are afraid of failure.  We are afraid of what others might think or say.  Some may even be afraid of success.  Until we address the fears that hold us back we will never live up to our capabilities or achieve the things we've dreamed of achieving.  We have to stop listening to those voices within and without that creates fear.  Acuff provides several specific things we can do to overcome that fear and move on with our lives.

Fear is what keeps people from starting that small business they've wanted to own.  For owners of small businesses, fear is what keeps them from taking it to higher levels.  We settle for normal because normal pays the bills and provides us with a regular income.  We don't want to risk that by trying to grow our business so we settle.  But, while we're settling we're also stewing inside because we know we could be doing so much more. 

I spend a lot of time working with church leaders, and many of them have settled for the ordinary as well.  In fact, it's safe to say that some have just given up.  They have been beaten down so often by having their ideas rejected by small minded people with big pocketbooks they've stopped dreaming.  They make no effort to lead their churches any more; they're content to just manage what they've got.  They have forfeited their role as prophet and leader and settle for becoming a chaplain.  In some cases, they are hospice chaplains providing care for a dying institution.

Life is too short to do work that doesn't matter.  Life is meant to be lived with purpose, and part of that purpose is to follow your dreams and to achieve everything you were created to achieve.  To do so will require some determination on your part and a plan.  Acuff's book can help you identify a plan.  After all, if you want to accomplish something the first thing you have to do is  Start: Punch Fear in the Face, Escape Average and Do Work that Matters.

Raising the bar

I recently was called to be the auctioneer for a near-by auction house when their regular auctioneer had to be away for the week.  When I drove to the auction I found they had a very nice facility.  The owners were very warm and friendly.  As we talked about how they operated one of them told me that their primary problem was that people didn't want to give anything for what they bought.  I was told, "We have a lot of one-dollar bidders here."  When I began looking at what was being offered I understood why.  I personally wouldn't have given a dollar for much of what was being sold that night.  As the auction began I noticed something that I've seen at other auctions.  Better quality items were bringing some decent prices, but the people were not going to pay much for the inferior items.  I thought to myself that this is not rocket science: if you want higher prices you have to sell better quality items.

Unfortunately, the problem is that the regulars who come to this auction have been conditioned to buy things cheap.  The risk to the sellers is that even if they began to bring in higher quality items, for which they've probably paid more to get, the buyers have been taught they can buy things cheap and may not bid much to get it.  This has happened to me several times when I've sold items at an auction and they brought much less than I paid for them.  I've learned that there are some auction houses I can take only lower quality items to sell because these are what I call "$2.00 auction houses."

What needs to happen in these facilities is that they need to quit accepting low quality items and begin to raise the bar for what they are willing to sell.  With better merchandise they can afford to do more advertising to attract the buyers who are more likely to pay what the better items are worth.  In time, these auction houses will be known as the place to sell top quality goods for a fair price.  The sellers make more on what they sell, the buyers are buying top quality items at a fair price, and the auction house sees its commissions increase.  It's a win for everyone, but it's not going to happen until the auction house raises the bar and insists on only selling quality items.

This is true for any small business.  In another business I owned I had a sign where our walk-in customers could see it.  The sign read, "We sell the highest quality merchandise, offer the best service in town, and have the cheapest rates.  You may now pick two out of three."  I knew we had competitors who offered less expensive equipment than we did, but we weren't competing for that business.  We had competitors that charged less for their service work than we did.  That was OK too because we felt we offered better service than they did.  We wanted to set the bar high enough to attract what we felt would be quality customers who knew the difference between cost and value.  I still believe that is a business philosophy that works for small business owners.

The challenge of change

Regardless of the organization, change is often one of the toughest challenges that most leaders face.  Most people don't like change, and that includes many of the leaders as well.  Change means that something becomes new, and we prefer the old and familiar.  Under the old ways of doing things everyone knows their role.  Whether you are the CEO or the janitor it's easier to function as long as things don't change because you know how to fulfill your role in that structure.  But, when things change it often means our roles change as well.  Now we face our work with caution because new things are expected of us.  However, whether we like change or not it is necessary in a rapidly changing world.  As Marshall Goldsmith entitled his book What Got You Here Won't Get You There: How Successful People Become Even More Successful.  No matter how successful your small business may be today, it will have to change if you want it to be successful tomorrow.  As I often tell people in some of my workshops, forget the old adage "If it ain't broke, don't fix it."  A better saying in the 21st century is "If it ain't broke, break it" because it will soon be obsolete anyway.  You may as well embrace change because it is here to stay for the leader who wants to be successful.  And, if you are a leader, you need to learn as much as you can about how to successfully introduce change to your organization.

One of the places I recommend you to start learning how to be a change agent is by reading John Kotter's book Leading Change, With a New Preface by the Author.  It remains in my top three leadership books and is essential reading for anyone called to be a leader.  One of the key learnings I got from reading the book is that the failure to create urgency is one of the primary reasons most change efforts fail.  When I first read that several years ago I immediately thought back to some of greatest failures I had related to changes I tried to implement and realized that I had not taken the time to create any sense of urgency in any of those efforts.  I just announced to people what changes I wanted us to make without ever explaining the why behind those changes.  I also never took the time to allow others to think about the changes and how they might benefit from them.  In my mind I understood the importance of the change and how it would positively benefit us, but I forgot that I may have spent weeks (maybe months) thinking through the change.  I seldom gave others that same time frame.  How much better might it have been if I had explained the why something needed to be changed, explained the change I wanted to see us make, and then gave people time to reflect on the change and ask whatever questions they might have had?  If I had done that many of those change efforts might have been much more successful.

Creating a sense of urgency is only one of Kotter's recommendations for the leader who wants to introduce change into his or her organization.  The book is a goldmine for anyone who needs to bring change to the organization he or she leads, and that would include anyone in a leadership capacity.  If you haven't read it I cannot emphasize too much how valuable it will be to do so if you want to successfully lead your organization.  Goldsmith's book is also helpful to anyone who isn't convinced that change is inevitable in every organization.

The leader of any organization ultimately determines the success of that organization

When John Maxwell's book The 21 Irrefutable Laws of Leadership: Follow Them and People Will Follow You was released he travelled the country leading workshops based on the book.  I attended one of those workshops.  The first law in the book is the Law of the Lid which teaches that everything rises and falls on leadership.  The leadership lid of the leader determines how far the organization can go.  When he finished talking on that law I never heard anything he said about the new two laws because I was trying to process what he had said about the first law.  I was also somewhat angry.

At that time I was the pastor of a small church and the owner/manager of a small business.  I was not happy with how either of those organizations were doing, and I had let both our congregation and our employees know how I felt.  I challenged each of them that if they would do more our church and our business could grow.  Maxwell was now telling me it was my fault; I was the leader and it was my leadership lid that was preventing both organizations from doing better.  The reason I was angry was that I realized he was right!

Your organization can have the best team members and the best structure available, but leadership will ultimately determine how successful your organization will be.  The decisions of the leaders will determine how productive team members will be and how well your structure will meet the needs of your team and your customers.  If your lid is a 5 you can never expect your organization to rise above a 4 because it will keep bumping up against your lid.  Also, if your lid is a 5 you will not keep team members above a 4 because people will not work for people whose leadership abilities are less than theirs.  You should also consider something else.  If your 4 leaders are hiring people they are going to hire 3s.  Can you see how this keeps pulling your organization backwards?

If you are serious about wanting your small business to grow you must be growing as a leader so you can attract other great leaders and have a more effective and productive business.  You have to stay current on what's happening in your field.  That will likely require you to read a lot more than you currently do.  It will also likely mean you'll need to attend some continuing education opportunities, and it may even mean you will need to go back to school for some specific classes.

We can blame struggling and closed businesses on many factors.  We can point our fingers at the economic situation, at laws that are oppressive to small businesses, government involvement and bureaucracy, unfair business practices by our competitors, and dozens of other problems, but the real reason our business isn't doing as well as we might like is directly related to our leadership of that business.  Raise your leadership lid and you'll raise the potential of your business.  BTW - I still think that book of Maxwell's is one of the top three leadership books of all time.

Some stores just don't get it

A few days ago my wife and I went to a local store to buy some items.  We found what we were looking for and went to the counter to pay for our purchases.  The clerk took my check for $240.00 and ran it through their approval system.  In a moment her machine spit out a ticket that said the check was for too much money.  She called a manager who said she seemed to remember something that said they couldn't take a check for more than $200.00.  At that point we picked up our check off the counter and walked out of the store tearing up the check as we left.  I told the manager that was one of the dumbest policies I had ever heard of and she responded that it wasn't their fault.  We went to another store in the same shopping center and purchased the items we wanted, and for less money.

When I came home I sent an e-mail to the company's main office describing our experience.  I told them what I told the manager, that was a dumb policy.  At a time when retail stores need to find ways to attract customers and make their buying easier and more enjoyable, this company decided to make it difficult for their customers to do business with them.  Not surprisingly, nearly a week later the company has not responded to my complaint.

Like many retail stores, this company spends a lot of money on advertising, and many of their products have been marked down to sell.  Why bother?  Why spend the money to get people into the store when store policies make it difficult for them to give the company their money?

Maybe I'm just more sensitive to this problem because when I had a business many of our policies weren't particularly consumer-friendly.  In fact, I included an entire chapter about that mistake in my book Mistakes: Avoiding the Wrong Decisions that Will Close Your Small Business.  Our hours were for the convenience of our employees, not our customers.  For many years we continued the practice of previous owners in not offering credit card options for payment.  We did not offer a wide enough selection of products from which our customers could choose.  The book covers these issues and others. 

I learned from those mistakes, but many small businesses still have not.  The store that had a limit on the size of check is one of a small chain that is unlikely to get much bigger if they do not change their policies and become more consumer-friendly.  And to be so arrogant as to not even respond back to a complaint from a customer is an even greater mistake than the check limit.

How long has it been since you've reviewed your customer service policies?  Do they make it easier for your customers to do business with your company or harder?  Are they easily understood by both employee and customers alike?  How do you view customer complaints?  Are they recognized as being the potential benefit to your company that they are, or are they a nuisance that wastes valuable time?  Does your company have a policy that requires that every complaint be answered within 24 hours?

This extended recession has helped close the doors of many small businesses.  In my opinion, if and when this recession ever ends, small businesses will continue to struggle to be profitable.  The ones who succeed will be the ones that have made it easy for people to do business with them.  Those that struggle, and perhaps eventually close, will point their fingers at any number of problems, but most of those fingers won't be pointing at their own store policies that doomed their businesses.  These will be the stores that just never understood the importance of customer service.  They just never got it.

Leadership and air traffic controllers

I seldom fly so the delays at our nation's airports this week have not bothered me, but it has been amusing to listen to the gloom and doom reported by the media about the delays and how the sequester has brought our nation's air travel to a crisis.  As I understand it, 10 percent of the air traffic controllers are furloughed each day which represents around 1,000 people.  As a retired union worker I don't like lay-offs for anyone because they hurt the average worker and his or her family, and I really don't like it when such lay-offs are used for political purposes.  These are people that are being hurt, and they don't deserve to be punished because our nation's leaders are incapable of leading.

Both sides accuse the other of being responsible for the air travel problems, and for once both sides are right.  Republicans and Democrats are both responsible.  Congress and the White House are both responsible.  The air travel problems are the result of a complete leadership failure on the part of both Republicans and Democrats and Congress and the White House.  But, I would also place this problem on the back of the American people because we voted these people into office, and we continue to vote such people into office even though they demonstrate time and again they are incapable of leading.  We have people sitting in Congress for years who have never demonstrated one ounce of leadership ability, and yet they continue to be re-elected.  President Obama's first term should have demonstrated that everything his primary opponents said about him was correct.  He is not a leader, but he was re-elected, and he continues to stumble through one crisis after another.  As was once said, a nation deserves the government it gets, so while we can certainly blame our national leaders we also need to take a good look in the mirror to see who is ultimately responsible for the people who sits in those positions.

This air traffic problem is a manufactured crisis designed to make Congress look bad.  First, we had the White House tours eliminated due to the sequester.  How childish was that?  Then it was announced that military fly-overs would be eliminated from large public events because of the sequester.  Who cares?  Why should the public pay for that anyway?  If the organizers of these events want military fly-overs let them pay for them.  But, by impacting air traffic the White House found a way to inflict pain on a lot of people as well as on the airlines and airports.  As this post is being written, Congress is working on a plan that would allow money to be channeled from other funds to keep the air traffic controllers on their post, but the White House has already claimed this is only a temporary fix and doesn't resolve the budget crisis our nation faces.

In 1981 President Reagan fired all the air traffic controllers who refused to end their strike and return to work.  It wasn't 1,000 people being furloughed one day a week; about 10,000 people lost their jobs in  one day because they refused to work.  Within a day or two salaried supervisors and military air traffic controllers manned the control towers and air traffic returned to near normal.  What was the difference between then and now?  Leadership.  Our nation had a president that was not afraid to take a stand and make a decision without wasting time blaming other people for his problems.  Was he criticised for his actions? Absolutely, but to President Reason such criticism was a small price to pay compared to the price the nation was paying over the air traffic controller strike.  There were also no more illegal public servant strikes during his term of office because people knew they would not be tolerated.

Yesterday, a person made an interesting comment after the George Bush library opened.  Despite all the criticism of President Bush's presidency, some of it deserved, one thing could be said about him.  He never blamed other people for his problems.  He did not spend time looking for a scapegoat to blame.  He was the President of the United States and he took responsibility for the decisions he made, and he was not afraid to make a decision.

As the owner of a small business, you must demonstrate leadership if you want your team to follow you.  If you want to inspire confidence in your leadership then you must lead and not waste time looking for others to blame for your problems.  You've got to walk through the door first if you want others to follow you.  I once worked for a boss who always talked about what "he" did when things went well, and when things didn't go well he would talk about what "we" did.  That is how a boss talks and acts.  Don't be that guy.  Be a leader, not a boss.  If you are supposed to be the leader, then lead, and if you can't lead then step aside and let someone who can have that position.  Your company will do much better if you'll do that. 

So would our country.

The rise and fall of a small business

Approximately 20 years ago a relative passed away and we assumed ownership of a small business he owned.  Even though we received offers from individuals interested in purchasing the business I decided to keep it.  It had a long history in our community, was profitable, and had great employees who wanted to remain.  Like many Americans I had long desired to own my own business, and this looked like the perfect opportunity.  The problem was I had no experience as a business owner nor did I understand the technology of the business.  Due to the experience of our employees I knew the tech part would be covered, and I felt I could learn the nuts and bolts of running a small business.

The first several years it was everything I had hoped it would be.  Sales were good, profits were solid, we were banking money and moving forward very well.  I made management mistakes during that time, but our level of profitability enabled us to cover those. However, when the economy began to weaken our sales slowed down dramatically.  Our clients would have us repair equipment that normally would have been replaced in an effort to protect their finances.  We started going through our savings rather quickly to cover costs.  Year after year we lost money.  I stopped taking a salary hoping that would allow us to survive the economic recession, but no one understood just how deep this recession was at that time or how long it would take to recover.  My inexperience led to more mistakes which cost us more money, money we could no longer afford to lose.  Although I learned from those mistakes they were costly to the business.

Many small businesses have failed during this recession, and most will blame those failures on the economy.  While there may be a measure of truth in that it is also true that many small businesses continue to do well during this downturn.  It is also true that businesses fail during more prosperous times.  It is not the economy that is solely at fault for the failure of small businesses, it is how those businesses are managed during those times that make the difference.  Good economic times will cover up a lot of management mistakes, but slow economic times magnify the mistakes we make in leading our businesses and make those mistakes much more costly to the company.

I learned a lot about leading a small business from the mistakes I made and from resources I began to gather about leadership and small businesses.  Unfortunately, I did not learn them in time to save our company.  It eventually closed.  All the hard assets and our property were sold at auction for pennies on the dollar.  Fortunately, we made enough to pay off all our bills but there was precious little beyond that to show for 15 years of running a small business.  The first few years of owning our business was a dream come true; the last few years was a nightmare trying to find ways to keep it open.  It was an especially painful time for me in many ways.

Coming out of that experience I decided to write a book that would help other small business owners avoid the mistakes I made that could cost them their business.  Because the experience was so recent and painful it did not take a long time to write this particular book, certainly not as long as the other books I've written relating to pastoral ministry.  Mistakes: Avoiding the Wrong Decisions that will Close Your Small Business is available for NOOK devices.  In the book I detail several of the decisions that I made for our company that turned out to be wrong and led to its downfall.  If you avoided even just one of the mistakes I discuss in the book it could save your company thousands of dollars.

Avoid the nightmare of seeing your small business close.  Don't spend sleepless nights wondering if the decisions you need to make are the right ones.  Avoid having to tell long-time employees they no longer have a job due to your closing the company.  Do not live through the horror of watching others drive off with your inventory and equipment after an auction leaving you with bills to pay with no money coming in.  Learn from my mistakes and you may avoid making them yourself. 

How many options are there?

One mindset that often limits our success in any endeavor is to think that we must choose between two options.  As a church leader and as a business owner I would have people ask, "Do you think we should do this or that?" referring to two possible ways of addressing a situation.  Unfortunately, I seldom explored other options and suggested they take one of the options they suggested.  Had we spent more time examining the situation and thinking about other possibilities we may have identified a much better solution.

We need to automatically assume there are more than two solutions to any challenge.  There may not be, but our organizations would often be better served if we at least began with that assumption and spent some time brainstorming what those options might be.  How much better would it be if we could identify seven or eight possible ways to address the issues that challenge us?  We would have a much better chance of identifying the best possible way of dealing with it.

The flip side of this, however, can also be a problem.  We don't want to spend so much time analyzing a situation and pursuing different ways of responding to it that we suffer "analysis paralysis."  If I am on a ship that develops a major leak I am going to do whatever I have to in order to immediately slow down the amount of water coming into the ship.  We can spend time later deciding how to best correct the problem permanently and how to prevent future leaks.  Right now we just to make sure the ship doesn't sink.  If a major event threatens our business we need to throw an immediate fix on it and then take time to study how it happened and determine the best permanent fix.  Fortunately, most of our challenges are not so threatening or immediate, and they allow us the freedom to consider various options before dealing with them.

One of my favorite coaching questions that I use with my clients is, "That's one option; what are some others?"  It's a question you can use to self-coach or to ask members of your team when they come to you with issues.  Refuse to allow yourself to settle for one or two options to any challenge.  Intentionally see if you can find at least ten possible ways to address every issue.  Even if you don't get to ten you'll probably identify more than one or two, and that will make it more likely that you'll find the best solution to your problem.

The right mindset for a small business owner

I recently finished a powerful book written by Rabbi Daniel Lapin called Thou Shall Prosper: Ten Commandments for Making Money.  Lapin is an Orthodox Jewish rabbi who has spent many years studying the qualities that have made Jewish people excel in business, and he has written this book to make these principles available to everyone regardless of their faith tradition.  As a Christian minister I found his insights into some of the Old Testament texts illuminating, and as a business person I found his application of those texts inspiring. 

Thanks to recent events business owners and successful people have often been painted as greedy, dishonest people who cheat and lie to rob poor people of their possessions.  Watch almost any program on television, any movie that depicts business owners, or watch the national news and see how many times business people are portrayed in that light.  The idea of an honorable wealthy business person is foreign to most people's thinking.  This false mindset of business people has even made some successful people feel guilty for their success.

Lapin writes that every dollar that is earned is a "certificate of appreciation" from one's customers.  This is true whether one works on a factory assembly line, owns a small mom-and-pop business on main street in a small town, or is a CEO of a large multi-national organization.  Everyone who earns a living has a customer, and the money that is earned is the result of satisfying that customer.  Lapin writes, "If you did not rob or steal from anyone to obtain that dollar, if you neither defrauded anyone nor persuaded your government to seize it from a fellow citizen and give it to you, then you could only have obtained that dollar in one other way - you must have pleased someone else."  There is nothing shameful about that nor is there any reason to feel guilty because you have become successful.

This is the mindset we need to instill in people, not the negative ones that attempt to demean business leaders and other wealthy individuals.  You need to understand this blog is not written by a wealthy person.  I am the typical middle-class American who has worked hard all his life to join the middle class, but I appreciate wealthy businesspeople.  No poor person ever gave me a job that allowed me to provide for my family.   When we seek gifts for charities and other worthwhile endeavors do we ask the poor or the wealthy for those funds?  Studies find that the wealthy give vast sums of money to charities, their churches, and other worthwhile needs.  Business owners give to their communities, to their churches, to other endeavors.  They provide employment that allows people to earn an honest living and support their families.  They provide goods and services that people need.  Lapin assures us there is dignity in business for all these reasons and more.

The book provides 10 commandments for making money, but it is not a "get rich quick" book.  It explores centuries of the Jewish mindset regarding money and business based upon teachings from the Bible and the "Oral Torah."  Lapin writes, "Deep within traditional Jewish culture lies the conviction that the only real way to achieve wealth is to attend diligently to the needs of others and to conduct oneself in an honorable and trustworthy fashion."  The 10 commandments found in the book help flesh out aspects of that conviction.

I appreciated the book and recommend it for several reasons.  One, it reminds the reader that honest businesspeople should be honored and respected for their contributions to our society.  Secondly, it gives interesting insights into Jewish beliefs and customs, and, thirdly, it presents some foundational concepts that one needs to believe in if he or she is to enjoy financial success.

Indecision will cripple your business

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Every day leaders are confronted with a variety of decisions they have to make.  Hopefully, your employees have been trained and are empowered to make many of the decisions that need to be made, but there will be those decisions that only you as the owner or manager can make.  The most successful leaders will not postpone making those decisions.  A study conducted by the Harvard Business School once asked "What are the top characteristics of high achievers?"  The persons being asked gave a wide variety of answers, but the top response was the ability to act quickly.  They recognized that leaders who can make quick decisions and act on those decisions were going to be the most successful in their fields.  Those who procrastinate in making the tough decisions would enjoy much less success.

This does not mean that these quick decisions were always the correct ones.  Sometimes these decisions were not the best that could have been made, and occasionally they were completely wrong.  But, the decisions led to actions, and if the actions didn't produce the desired results then new decisions could be made.  In either case, the best solution would be discovered more quickly through not putting off making a tough decision.

These decisions were also not made without input.  Leaders know to acquire as much information as possible before making an important decision, but not to delay that decision until they have every iota of information that might impact the decision.  Leaders never have all the information they need, but they often can't wait until that information is available before making a decision.  If new information becomes available later that would lead to a different decision then the initial decision can be altered.  I once sat in on a meeting when a question was raised about a decision that had been made by a board two years earlier.  One person in the room reminded everyone in the room of the earlier decision when another person responded that decisions can be changed when new information became available.  Few decisions should be written in stone.  Especially in the times in which we now live, decisions made two years earlier should not be seen as Gospel.  They may have been the right decision at the time, but as new information becomes available or things change, then those decisions need to be examined and changed if needed.

When leaders refuse to make necessary decisions they create doubt in the minds of their team members.  These team members wonder who is running the organization and what will happen if their leaders become incapable of making important decisions.  There is a great scene in one of the Pirates of the Caribbean films when, near the end of the movie, two pirate ships go on either side of a British ship and begin firing.  Throughout the movie the commander of the British ship was arrogant in his leadership, but as these pirate ships made a maneuver he never expected he suddenly became frozen and incapable of responding.  The subordinate officer kept demanding an order which never came until the subordinate office assumed control and ordered the men to abandon ship.  The pirate ships kept firing on the British ship as the commander slowly walked across his ship until it finally blew up and sank taking the commander with it.

In business we will always have pirates firing at us.  People will do things we never expected.  New challenges will continually confront us.  Some of these challenges will offer opportunities for our businesses to grow; others will threaten to sink us if we do not react quickly.  In either case, decisions will have to be made, and you as the leader will be responsible for making them.

Network to build your business

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A few years ago a friend asked me to speak to the local Rotary Club about the auction business I had recently started.  My schedule was clear that evening so I agreed.  Despite bad weather a nice group of people were there representing various businesses in our community.  I kept my presentation to about 20 minutes, but I was surprised by their questions that lasted about 30 more minutes.  There was much about the auction business they did not know which led to some very good questions about the details that are involved in having an auction.  It was a great opportunity to showcase my knowledge and my desire to operate a quality auction business that will treat people with respect.  It was also a chance to build relationships with persons I had never met before.  We ate together, we laughed and joked with one another, and by the end of the evening I think we all felt very comfortable with each other. 

The day after that meeting I thought back to the fifteen years I owned a previous business.  Not once did I ever speak to any group about our business nor did I ever join any of the organizations in our community.  We sat back waiting for people to walk into our business, ran an occasional newspaper ad or radio spot, and depended on word-of-mouth advertising from satisfied customers.  I have to wonder how much better could we have done if I had networked with other leaders in our community so they could get to know me on a personal level and get to know more about our company.

Given the option, people will do business with persons they know and trust.  Networking allows others to get to know you on a more personal level.  Networking is more than working a room and passing out business cards; it's about getting to know people and letting them know you.  It's building personal relationships with other people.  It's about building top-of-mind-awareness through relationships.

Are you a member of any of the local service organizations in your community?  Don't misunderstand...you don't join these groups just to get business for your company.  You join to help make a difference in people's lives.  Many of these groups do some great work in their communities, and that is why you want to be a part of that.  However, as you serve alongside others in the organization you are building relationships that may well result in increased business.  Anyway you look at it, that is a win-win situation.  You benefit from the increased business, and your community benefits by your involvement in the organization.

What would you do if someone asked you to present a talk to one of the groups in your community?  For many people, their number one fear in life is to have to stand before a group of people and give a talk.  I've been in ministry for over 35 years so that is not a fear of mine, but I have seen people freeze when they've been asked to speak to a group.  As a business leader you need to conquer that fear because such opportunities are a great way to network with other people and present information about your business they may not have known.  It puts a human face and story on your company that is more appealing than any logo or slogan.

Look for networking opportunities.  I think you'll find they will help grow your business.

To learn about other mistakes I made in my previous business be sure to read my e-book Mistakes: Avoiding the Wrong Decisions That Will Close Your Small Business.

Your online presence needs to be updated regularly

I scan or read well over three dozen blogs each day.  The posts that I find helpful I put on Twitter so others can be directed to the author's site so they can read them if they want to.  One of the things I don't understand is why the people who create these blogs may go for months without ever adding a new message.  Recently, I removed several of the blogs I had been following because nothing new had been published on them in five to six months.  Many of these were business-related blogs that I assume were created to attract people to those businesses.  I don't think most people will find them very attractive.

Since starting this blog a few months ago I try to post on it at least once a week, usually Monday.  Once in awhile I don't do it simply because of my schedule.  I have another blog that is focused on ministry and church leadership.  Because that is my primary focus and the field in which my day job is located I try to post on that blog at least four times a week.  In addition, I post around 15 articles on my Twitter account each business day with a link that directs the reader to the site where they will find the article.  Half of those articles are related to ministry and the other half are focused on small business.  I do this because I want my readers to find fresh information from some of the best thinkers in these two areas of life.  Since my Twitter account links to my Facebook account, those who just follow me on FB are able to be directed to those articles as well.  I continue to struggle getting large numbers of people following my posts; I can't imagine how difficult it is for those blogs that are only updated 3-4 times a year to attract regular followers.

What makes this even sadder is that I have found the articles on these blogs to be quite good.  The authors are people who have something worthwhile to say, and usually a product or service to market, but they are turning away some of their potential clients due to the lack of blog maintenance.

Small businesses and ministries need a presence on social media.  A web site and/or blog (I think both are best.) are becoming more essential to get their messages out to persons who need to know about them.  But, if these are not going to be updated regularly these sites can become more of a detriment than an asset.  Stale messages send a negative signal to your potential clients that you don't want to send.  It tells people that you don't have a lot to say about your product or service or you just don't care to give them the information they might need to do business with you.

I have seen church websites that have not been updated in three or four years.  Their previous pastor is still listed on the church staff page.  If that information is wrong then I can't assume I can trust their service times either.  This has actually kept me from visiting some churches.  Some businesses don't do much better.  Dated information about the company or the product or service doesn't impress potential clients, and it's important to know that the first image some people will make about your company will come from you social media sites.  Create the wrong impression online and you will drive potential business to your competitors.

Businesses have two options.  Either pay someone to manage your site or do it in-house, but your sites must be maintained and updated on a regular basis.  In today's environment your online presence may be a major portion of your marketing depending on the target audience you are going for.  As such, it should be seen as an investment, not an expense.  You are investing money and time in an effort to reach new clients and to encourage your current clientele to do more business with you.  Make your online sites a priority in your planning.  Don't ignore or "forget" them.  They can be a rich source of revenue if they are properly maintained.

Confidence is key to success

A few years ago I decided to get my auctioneer's license. Although I was working full-time I knew I was getting close to retiring (for the second time) and wanted something else to do. I took the 80 hours of training our state requires and took the exam which I passed. A few days later I got my license in the mail.

The next Friday evening I went to an auction conducted by a friend of mine.  As soon as I walked in the building he asked if I could help out in the ring as he was short-handed that night.  After a couple of hours of ring work he asked if I would relieve him for a few minutes and take over the bid-calling.  That was my first time to call bids at an actual auction.  We ended each of our class sessions at the auction school I attended practicing bid calling, but this was my first time to be taking bids from actual buyers.  I can assure you it was not the same!  That few minutes turned into almost an hour before he returned to the microphone for the remainder of the auction.

I learned three things that evening.  One, I enjoyed it as much as I thought I would.  Two, it is harder than it looks like.  Three, I can do this.  That hour behind the microphone gave me confidence that I can be an auctioneer.  Yes, I messed up a couple of times.  (Once I had a $15.00 bid for an item and started asking for $10.00.  We all laughed because everyone knew it was my first time.)  But, that was OK because it taught me that messing up isn't the end of the world.

In anything we try to do in this life confidence is an important key to success.  This is especially true for the entrepreneur starting a new business.  You may have been a technician in the field of your new business or perhaps you've spent years in school learning the nuts and bolts of running a company.  Despite that background you don't KNOW you can do it until you are actually the person in charge.  When the microphone is handed to you, when you are the one responsible for making the final decisions that will determine the direction your business will go, when the employees are dependent upon your judgment for their livelihood then you will find out whether or not you can do this.

For most entrepreneurs it is often best to start part-time until your new endeavor is showing steady profits and growth before completely leaving your old position.  Anyone starting something new will make mistakes, but when you are not totally dependent on that one source of income those mistakes are less deadly.  As your business grows you will become more confident in your ability to manage it.  Perhaps the day will come when you will decide to invest yourself fully in your new business, or, like me, you may see this as something that will remain something you do part-time as a fun diversion.  Either way, as you build confidence it will become much more enjoyable and profitable.

If you want to read what has to be the textbook on entrepreneurship and how to properly start a new business you must read EntreLeadership: 20 Years of Practical Business Wisdom from the Trenches by Dave Ramsey.  An important piece of confidence is learning what you need to know to be successful, and this book will give you the tools you need to start and run your own business.

Starting right

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A couple of weeks ago I mentioned that I had received my auctioneer's license and was preparing to start an auction business.  Today I met with my attorney to discuss how I should structure the business.  He advised me to create a Limited Liability Company (LLC) that would help protect our personal assets in case there were problems in the future.  It costs very little to set up an LLC and it provides a lot of protection.  He suggested that if I wanted to save money I could do it myself online as it wasn't that difficult, but when I asked what he would charge me to do it I found out it wasn't much more.  I asked him to do it.

I'm all about saving money, and like most small business start-ups I don't have a lot of money to put into this endeavor.  However, I think there is value in knowing that the foundation for the company is being laid correctly.  I could save money by doing my own dentistry too, but I doubt it would be worth it.  I want this company to be set up correctly so why not pay someone who has been trained for this kind of work to do it, especially when it is such a minimal amount?

One of the mistakes I made in my previous company was that I tried to save money in places I shouldn't.  Penny wise and pound foolish I believe the old proverb calls it.  I want this new business to be started right so I've asked my attorney to do the paperwork for the LLC to ensure it is done correctly.  I began today pricing liability insurance.  When the state approves the LLC I will set up two bank accounts for the business: one for business operations and the other for an escrow account as required by state law.  I have started printing business cards and brochures and began handing them out to close friends.  Later this week I will order contract forms and other paperwork needed in the auction business so when I am ready to launch the business I will have everything ready to start. 

And it will be right from the start.  I will not make the mistake again of trying to cut corners that should not be cut in an effort to save a few dollars.  I learned that lesson from my first business.  If you want to know what other lessons I learned from losing that business be sure to read my e-book Mistakes: Avoiding the Wrong Decisions that Will Close Your Small Business. 

Going smaller with your business

Since this blog is primarily for small business owners the idea of going smaller may be the furthest thing from your mind.  Chances are you are trying to find ways to grow your business, and there is nothing wrong with that if big is how you define success.  However, there is much to be said for small as well.

What would happen if you fired half of your customers?  You know, the ones who always pay late, complain about your prices and/or service, never give you a positive recommendation, and take up large chunks of your time over the most miniscule of issues.  Right now I'm thinking of a woman who complained to me about the cost of a service call our company did for a rental house she owned.  She didn't feel she should have to pay as much for that call as someone in a community less than ten miles away because she lived in a poorer area.  I reminded her that our supplier charged us the same for the part we used regardless of where we used it.  Our serviceman had to drive that extra ten miles to do the service call, and she was the one who chose to buy rental property in that poorer community.  She was adament that I reduce the bill which I did.  Life is too short to quibble over ten or twenty dollars.  We also never accepted another service call from her.

What would happen if you fired half of your employees?  Barbara Corcoran of Shark Tank fired the bottom 20 percent of her sales staff each year. Don't just dump them out on the street.  Help them find other jobs before letting them go, but keep only your top talent and give them substantial raises.  You would lose the employees who come in late, are less productive, and often infect other employees with their bad attitudes.  Your overhead would go down, you would be working with your top talent, the atmosphere in your workplace would be less toxic, and the ones you keep would be more productive because they are no longer carrying dead weight.

Doing these two things would change the way you could do business.  You could begin to pick the projects you actually enjoy doing rather than the ones you have to do to make payroll.  Your stress levels would go way down because now you are working with your very best clients and team members.  You would probably be more profitable at the end of the year.  Think about that: less work, less headaches, more on the bottom line.

Again, making this type of change first requires a change in how we define success.  If you want to grow your small business into the next empire, fine.  Just know that your dream could turn into a nightmare before it's over.  If you want to enjoy the things in life that really matter: your family, your friends, your faith, your life, and enjoy a good living then you may want to consider going smaller with your business.

For other tips on small business success be sure to read my e-book Mistakes: Avoiding the Wrong Decisions that Will Close Your Small Business.

Who is really to blame when a business goes under?

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We owned and operated a small family business for fifteen years until we were forced to close it.  The last few years the company was not profitable, and it was a struggle to keep it open.  We continued to think things would turn around as they had during previous downturns, but that time we just could not turn the corner.  After an auction we had enough money to pay our creditors.  We were lucky.  Many who lose their companies are forced into bankruptcy, lose their homes, have their credit destroyed, and/or deplete their life savings.

The news continues to be full of stories of small businesses failing, and the owners point their fingers at a lot of causes.  The economy is bad, taxes are too high, there is too much governmental red tape, Obamacare, inability to compete with foreign-made goods, fiscal cliff uncertainty, too much competition especially with the big box stores, dishonest employees,, and a rapidly changing environment.  Of course, this is not an exhaustive list of reasons why businesses fail.

Each of these are a severe hindrance on small businesses, but are they really the reasons why a business fails?  The fact is that businesses fail in a good economy, and many small businesses continue to do well in our present economic downturn.  I agree that taxes are too high, but they are basically the same for every business, and some seem to prosper despite high taxes.  Every one of these reasons are a challenge, but some small businesses are able to meet those challenges and do well while others end up closing their doors.  The real reason a small business fails isn't due to outside challenges; the real reason is internal.  The owners failed to make the decisions that were needed for the company to prosper despite the challenges it faced.  In a good economy our mistakes don't hurt us too badly, but in a poor economy our mistakes cause us major problems.

When our business was struggling I blamed a number of issues that were all true, but each of them were outside my control.  It wasn't until later I realized that the real reason our company closed was because I failed as a leader to make sound business decisions and operate the company in a way that would ensure its profitability.  I could write a book about all the mistakes I made as the president of our business.  In fact, I did.  It's called Mistakes: Avoiding the Wrong Decisions That Will Close Your Small Business.  For thirteen chapters I describe in detail the mistakes I made that led to the closing of our business.  In each of those chapters I also describe the lessons I learned that, if they had been applied at the time, would have led to better decisions on my part.

Success and failure are both inside jobs.  You can't depend on Washington to bail out your small business.  That is not going to happen.  You can't even depend on them to not do something stupid that will add even more risk to your business.  The big box stores are not going away.  Taxes are not going to go down; in fact, it is likely they will continue to go up because Washington is convinced we are not yet paying enough to fund their programs.  If you want to ensure your company's success you have to work smarter, and one way to do that is to learn from the mistakes of others. 

That's why I wrote this book.  I want to help others avoid the mistakes I made so their businesses don't fail.  If you started your company it was because of a dream you had.  Perhaps you are now the head of a business that has been passed down from other generations, and you want to keep their dreams alive.  I believe this book will help that happen.  It is currently only available on NOOK devices and can be ordered here.

The power of a dream

Although I don't watch every episode I do occasionally enjoy watching Shark Tank.  The people who often have the greatest success on that program are people who have had a dream and have worked hard to see it happen.  They are on the show in hopes of getting the financial backing to take their dream to the next level.  Some have described enormous sacrifices they've made as they have pursued their dream.  These stories resonate with the sharks because they've been where these hopefuls are now.  Although I don't know the stories of all the sharks, the ones I do know are stories of sacrifice, hard work, and a refusal to quit.  Their dreams were bigger than the obstacles they were facing which allowed them to continue until they became quite successful and wealthy.  When someone comes on the program with a similar story that rings true, and has a dream that can succeed, that person usually walks away with one of the sharks investing in their dream.

When we think of powerful dreams the first person we often remember is Dr. Martin Luther King, Jr. because of his famous I Have a Dream Speech.  Even now one cannot hear that message without feeling the power of his dream, a dream which he was totally committed to seeing occur even at the cost of his life.  As a graduate of Liberty University with two degrees from that school I think often of Jerry Falwell's dream of starting a university for Christians that would compare with any other university in the world.  Starting very humbly in classrooms in his church that school nearly closed in the early 1990s due to finances.  His dream refused to allow Falwell to give up, and today over 92,000 students are enrolled in their residential and online programs.  It has 253 undergrad programs of study and 87 graduate programs.  Barbara Corcoran, one of the sharks I referred to above, was a straight D student in high school and college and had 20 jobs by the time she was 23 years old.  But, she had a dream and borrowed $1,000 from a boy friend which she turned into a real estate business which she later sold for $66 million.

What is a powerful dream?  John Maxwell defines a dream as "an inspiring picture of a future that energizes your mind, will, and emotions, empowering you to do everything you can to achieve it."  Each of the persons mentioned above had such a dream driving them to succeed.

If you own a small business you probably started it with a dream of doing something different with your life.  One problem with dreams is that sometimes in the course of everyday business the dream gets lost and forgotten.  When dreams are forgotten they lose their power to compel us to do our best every day and we begin to accept mediocrity.  Such mediocrity will never allow us to see our dreams fulfilled.

As we enter into a new year this is a great time to revisit your dreams.  What exactly do you want to accomplish with your life and your organization?  How are you going to make a difference in 2013?  Be very clear with your response, and you may even want to print it out and frame it so you can keep it in front of you every day as a reminder of why you are here.

One final thing should be said about dreams.  Not all of them are equal.  Many who go on Shark Tank leave disappointed because they could not getting backing from any of the sharks.  Some had not thought through their dreams to determine if there was actually a need for their product or service.  Some of the dreams are, frankly, rather foolish and not deserving of a person's efforts.  John Maxwell wrote a very helpful book to help a person evaluate his or her dreams that I would recommend as you examine your own dreams.  It's called Put Your Dream to the Test: 10 Questions to Help You See It and Seize It and can be ordered by clicking on the title.

This will be my last post until after Christmas so let me wish each of you a very Merry Christmas!