Patience is a virtue. However, leaders and entrepreneurs tend to be inherently impatient. No matter what stage your company is in, you will always feel the pressure of time and results. Time and results are like a chicken and egg situation. Time will afford you the chance for results, and results will afford you more time. But usually you have dollars flowing out like sands in an hour glass and you don’t have the luxury of letting things play out. Leaders often unknowingly shoot themselves in … [Read more...]
TheUC 029: Repairing Business Relationships
Getting deals done often comes down to business relationships. Sometimes you have to deal with relationships that have gone sour which puts any business in jeopardy. You will have to decide whether or not the value in that relationship is worth saving. There are MANY ways to cross a bridge, but burning that bridge is NEVER going to be an option a smart person will take. But as last episode points out, there are a lot of bad managers and business people that you will have to deal with and they … [Read more...]
TheUC 028: Getting Business Done with Bad Managers
When getting business done, you will have to deal with bad managers. However, business still needs to get done. It is very difficult to be the one who has to point out that the Emperor is naked. So here’s a bit of a conundrum: Are you going to believe in truth above harmony? Or would you prioritize harmony above truth? Both philosophies have intention for long-term value creation. Someone who puts harmony above truth will let slide some bad behavior or some inaccurate facts so as not to offend … [Read more...]
TheUC 027: Snatching Victory from the Jaws of Defeat
Whether you are working on deal, raising money, dealing with a partner, vendor or employee, at some point, the relationship might start to go south. Defeat may be looming, but that doesn’t mean you can’t still salvage victory. What happens when you are crossing a proverbial bridge and see that there might be a crack in the foundation? Do you stop and fix it? Could the bridge come crumbling down? And if that’s the case, do you get off the bridge or ensure you fix it before it gets to that point? … [Read more...]
TheUC 026: Cultivating Talent: Nature vs. Nurture
Cultivating talent is critical to business success. While some things can be taught, other things are simply innate. In cultivating talent, understanding what is nature versus nurture is essential. In our quest for building long-term extraordinary value, it is really important that we invest in what we can learn or what we can teach. Know how to spot and be able to acquire the talent that cannot be taught. Most of all, to truly cultivate talent, we must stop wasting precious resources in … [Read more...]
TheUC 025: Being Your Own Boss with Special Guest Gerald Lucas
Being your own boss sounds great when you are working in a large corporation or are in school, but it comes with unique and sometimes Herculean challenges. Being your own boss also means that it all comes down to you. You may feel like you ‘get’ to make the final decisions, but you are the one who has to bear the burden of the outcomes. You may think you have those who work ‘for’ you, but in reality, you have people whose livelihoods now depend on you. Gerald Lucas is the founder and CEO of … [Read more...]
TheUC 024: Chemistry Matters – When All Stars Fail
An All Star team isn’t necessarily the OPTIMAL team. Team chemistry matters and optimally allocating your resources to germinate good leaders and managers within your company is paramount for success. There is some logic (though often short-sighted) in plucking single players out of another environment and putting them with other “All Star” individuals of excellent talent on to your team. You can even convince yourself that you’ve put together the ‘best team’ possible. However, what is best for … [Read more...]
TheUC 023: The Different Roles of Leaders and Managers
There are times to lead and times to manage. It is important to know the difference between leadership and management. Leaders and managers are distinctly different roles. Many companies err because they don’t understand the difference between a leader and manager. Leaders fail when they manage instead of lead, and managers fail when they lead in situations that demand management. Whether you are a leader or a manager, there is no substitute for experience. Companies both early stage and Fortune … [Read more...]
TheUC 022: Building Market Share Effectively
Building market share and engaging in your marketplace is pivotal for long term success in your business. One of the most effective and valuable ways to build market share is attending conferences and trade shows where your market share is captive and IN PERSON. Don’t think you can hide behind your electronics just be active in your social media to establish relationships to build meaningful market share. You need to get your brand and yourself out there in the real world to be competitive and … [Read more...]
TheUC 021: Cutting the Fat, Making the Tough Decisions, and Adding Value to Your Venture
Terminating a relationship of any kind really sucks. There’s just no getting around that. However, so often we find ourselves in situation where we need to cut the fat in our organizations. Sometimes we need to get rid of a toxin. So whether you are cutting the fat or creating addition by subtraction, there are many times when you will have to terminate relationships in your company. You may do it in the form of a layoff, a firing for cause, or a resignation. Ideally you will be able to open the … [Read more...]