You, your venture, and the social media world is a perplexing threesome. Where does the CEO as an individual separate from the vision and value of the company on social media? How do you find the balance between the two-way dialogue between your company and your customers that social media provides? How do you balance the promotional branding of your product that you put out there on social media with the unsolicited customer feedback and conversations that comes back into your company? Most … [Read more...]
This Year Resolve to Be A Better Leader
What is it about the New Year that causes us all to feel obligated to ‘resolve’ to be better that somehow escapes us on the other 364 days of the year? The reality is that the New Year is just another day that ends in ‘y.’ Yet, somehow the flipping of the calendar to a New Year lights some sort of beacon summoning home the Prodigal Son. So we will all spend a few weeks making quasi-earnest attempts to eat better, exercise more, communicate better, etc. only to fall back into our pathetic abyss … [Read more...]
TheUC 041: What Kind of CEO Are You?
Are you a good CEO? What kind of leader are you? Many CEOs sink the value of their company by getting distracted by their own media. A good leader and CEO will prioritize the needs of the venture over their personal wants. It is important to learn what outlets and assets to properly leverage to build value in the venture rather than unwittingly destroying the company’s value by indulging in their personal megalomania. The 4 archetypes of CEOs: Naked Emperor/Megalomaniac CEO: Typically … [Read more...]
TheUC 040: Who is the Best CEO for Your Venture?
A CEO’s job is to build long term value in their company. Yet many CEOs fail. Having the right CEO to lead a company is critical to a venture’s success. The wrong CEO can be disastrous. Learn to spot the red flags, and ask the right questions to understand who the best CEO is to lead your venture towards exceptional long term value. CEO case example: American Apparel CEO ousting overview The 4 archetypes of CEOs: Naked Emperor CEO: Typically rule by fear, and need ‘yes men’ around … [Read more...]
TheUC 030: Driving Results with Productive Patience
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 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...]
“Failure is NOT an Option!” YES, it IS. It just isn’t the one we would choose.
“Failure is Not an Option”…Yes it is. It just isn’t the one we want. As entrepreneurs, there is significant pressure from the start-up and venture community to ensure a meteoric rise for our venture’s success. So we tell ourselves words that are meant to encourage, but are actually detrimental. I can think of none more egregious than, “Failure is Not an Option.” I can’t tell you how often I’ve heard … [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...]