You can make statistics say virtually anything you want them to. Apparently even things that make no sense:

Make sure you that are getting the full story on any statistics that you intend to rely upon.
You can make statistics say virtually anything you want them to. Apparently even things that make no sense:

Make sure you that are getting the full story on any statistics that you intend to rely upon.
Sometimes, we are our own worst enemies. Our fear of facing fear often prevents us from moving forward. I am delighted to welcome guest blogger Dave Mischler, President of Sun Advisory, LLC and President / Facilitator of Inner Circle Chicago to talk about hugging your monster.

DM: Monsters take many forms. Some of them come from far away worlds. Others rise from the depths of the sea or the vastness of the forests. Still others are of our own mind’s creation. It is this last group that should concern us most. Nothing is more formidable than the monster we invent ourselves because such a creature knows our weaknesses and can prey on our frailties. I spoke with a wise business owner who once said, “Sometimes you just have to hug the monster.” What he was talking about were the less-than-positive, sometimes harmful behaviors that virtually every owner has. As a business owner, your monster is that thing about your business that you have been avoiding, or the manner in your approach that is holding you back from achieving your full potential. It is your blind spot. These behaviors usually arise from years of habit. We have grown comfortable in their presence and convince ourselves that they embody our own best interests. This fact makes them hard to slay but slay them we must if we are to realize our goals.
How do you overcome such a fiend? As in so many fairy tales, nothing is more effective in defeating evil than the light of day. Bringing a monster out into the open for close scrutiny takes away its power. Your blind spot can be exposed through the experience, authority and credibility that outsiders bring – their objectivity. No one looks at your business like you do. When others are given the chance to delve deeply into your processes and your habits, your decisions and your indecisions, your successes and your failures, and when they have a chance to understand what you were trying to achieve but observe what you actually did, your monster will be exposed. And, if you are open-minded enough to listen, the brute’s days will be numbered.
The most successful business owners surround themselves with a group of advisors who will tell them the things they need to hear, not just the things they want to hear. This requires a special perspective from these advisors – one born from genuine support and with no specific vested interest other than your success. By exposing your monster to such a group, and by opening yourself up to the reality that it needs to be defeated, you will see a rise in your own business success and satisfaction.
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Dave Mischler is President of Sun Advisory, LLC and President / Facilitator of Inner Circle Chicago (peer advisory boards for business owners). In these roles, Dave guides business owners to collaborate with their peers or identifies resources and develops tools to help them become more successful and satisfied with what they do. You can connect with him through his blog or his website.
CR: Once again, you can see the Spinach In Your Teeth philosophy embraced (pun intended) here. Get advice you need to hear (not just what you want to hear). Thanks again to Dave for his insights.
When looking to grow your business, the choices come down to build, buy or partner. I decided to focus first on partnering and asked like-minded entrepreneurs and advisors for the straight talk on how to approach partnerships and collaboration for maximum benefit. Here is what you need to know and need to do when approaching partnering in your business:









































I think that this list presents a very good foundation for thinking about partnerships. Many thanks to everyone who contributed this valuable feedback!
Knowing your customer really helps focus your advertising efforts. Seriously…

When I was working at Montgomery Securities, I had the opportunity to work on a follow-on public equity offering for Cooker, a once-publicly traded restaurant chain that unfortunately has since gone bankrupt and closed.
As “low women-on-the-totem-pole” on the three-person deal team, one of my jobs was to make sure that the registration statement (which is what the investors read and gets filed with the SEC- think of it as a capital raising document for a public company) was correct. Since the company was already public, it routinely filed statements with the SEC, so those parts of the document were audited and should have automatically been correct. But because I am diligent (i.e., extremely anal) and wanted to make sure that everything was in order (since that was my job), I recalculated every number in the registration statement by hand.
When I got to the balance sheet, there was a problem- it didn’t add up. Impossible- this was a publicly filed statement?! I had my colleague double check the math, and lo-and-behold, I had caught a major math error (which kinda pissed off the CFO because it made him look bad, but hey, it saved a LOT of potential problems).
After the deal was done, we had a closing dinner with the entire team where the company, the lawyers and the investment bankers got together to celebrate the deal. At these dinners, sometimes awards are given out. My colleagues handed me an award. Guess what it was?
Whatever you guessed, you are wrong. It was the “We Got Leggs Award”, for the team member “most likely to distract institutions, management and other bankers through my alluring hemlines”. Here it is in all its glory (maiden name included):

So, I found a mistake in a SEC filed balance sheet that had been audited and signed off on by company management and my freakin’ award was for wearing short skirts. Awesome (not really). And yes, the fact this that trophy is represented by a horse’s ass was not lost on me either. (They claim it was the only trophy they could find “with legs”).
Incredibly, the other bankers who were our co-managers on the offering actually stood up and reprimanded my colleagues for giving me that award and said that they were so amazed by what I did (the math part, not the skirt part) that they actually used it as a case study in their analyst training program on “what to do”. They also told me privately that they could not believe that my team didn’t recognize that.
Now, I have a fairly good sense of humor, so I didn’t care that much, but it would have been nice to have been recognized for my work rather than my legs.
If you have employees, make sure you are looking at (and rewarding) their work, not their legs.
Whether you are in a professional or personal relationship, setting authentic expectations up front can really create a foundation for the relationship’s longevity.
If you do something when you first interact with a prospective customer (or partner), they will expect that to be the norm. If you decide you no longer can or want to do that something, then you look like a jerk.
For example, I buy a lot online from prestige cosmetics retailer Sephora. Even though their products are pricey, they won me over originally with a number of sexy offers, from free shipping and free samples to a points program and free gift packaging.
At some point in the last 12 months or so, they took away the free gift packaging online- it now ranges from $2-4 per order. This does not break the bank in any way and theoretically shouldn’t matter as I buy more for myself than I do as gifts there, but I still feel cheated. Why? They set the expectation that free gift packaging was part of their offer. The worst part is that they didn’t need for it to come to this; the other offers were enough to win me over as a customer, but they went too far, offering something that they couldn’t fulfill long term and now it is a deficiency in my customer relationship with them.
There are plenty of other businesses that are affected by their expectations. The spa that I frequent always has a coupon, so I won’t go if I can’t get the discount. Many of my friends won’t buy their Clinique makeup if it is not “bonus time” because it is almost always bonus time somewhere. If you make something the norm, your customers will expect it.
People do this all of the time in personal relationships too. A woman may show off her domestic skills early in a relationship by cooking and doing housework and a man may try to woo a woman by bringing her flowers weekly. That becomes the expectation. However, if you can’t authentically keep that up over time, when you stop, it becomes a loss.
When I met my husband, I was very clear that I don’t cook, I don’t clean and I really don’t do much of anything that would be considered “domestic”. Now, I had to bring something of value to the relationship, so I was clear about all of the things that he would find valuable, such as the fact that I love sports ranging from football to MMA, that I am independent (financially and otherwise), that I am fairly low maintenance (personally, not professionally) and also a few other things that my husband would not be pleased if I wrote about, but let’s just say they add lots of value to a marriage. These are all things authentic to who I am and not something that I struggle with fulfilling.
Now, if I ever do anything domestic (which is very rare, but does happen once in a great while), I become a hero because it is out of the ordinary- it is not expected. This creates a very different situation than if I had pretended up front that I love to iron and then couldn’t keep up that charade.
Your business needs to do this as well. You need to have an outstanding value proposition to the customer, but it has to be something that you can keep up long term. Sephora never needed to offer the free gift packaging as an “always” perk. They could have done a special offer with orders over a certain size or if you reach a certain level in their loyalty program. Then it would have been a benefit, not an eventual deficiency.
Think hard about the expectations you set with your customers (and everyone else too). Nothing good ever comes from someone saying, “You don’t bring me flowers anymore…”.
This post is a follow-up to How to Think Like the CEO of a $15 Billion Company (No Matter What Size Your Business Is) and was told to me by the CEO of an Australian company.
There is a well-known buyout investor in New Zealand named Graeme Hart (Chairman of Rank Group; well-known is a bit of an understatement-he is reported to be the wealthiest person in New Zealand). According to the story, in the early 1990s, he was evaluating the purchase of a major bookstore chain that was part of Whitcoulls Group and decided to head with a colleague into one of the stores.
They were in the bookstore for no more than five minutes when Graeme left. The colleague followed him outside and Graeme declared that he was going to try to purchase the chain.
The colleague was baffled- they had been there just a few minutes. He probed Graeme on how he had come to a decision so quickly.
The answer, Graeme said, was easy. He explained that the store was merchandised like a library, with the books lined up on the shelves with their spines facing out, one after another. Nobody could see the covers! He told his colleague that all he had to do is take the books, change their orientation on the shelf so that customers can actually see what they are buying, and he guaranteed sales would improve.
As the story goes, he bought the chain, he had the books turned so the covers instead of the spines faced the customers, and sales increased immediately and significantly. That illustrates the subtle-yet-keen insight that has allowed Mr. Hart to amass a nearly $9 billion fortune.
The takeaway: How can you tweak your thinking just a little bit? Can you look at things in a slightly different way in your business? It may have huge rewards, just like turning books on the shelf did for Graeme Hart.
I am thrilled to have back as a guest blogger Rich Gallagher, communicator extraordinaire and President of Point of Contact Group. Read on:
RG: A few years ago I was interviewed by a national business columnist, who among other things wanted to know how I closed sales. My answer made her choke on her sandwich: I never, ever try to “close” a sale.
In fact, I don’t sell at all. And neither should you.
I know, that flies in the face of every sales book you’ve ever read. Google the phrase “sales techniques” and you will come up with over half a million hits. But trying to get rich by reading many of them is like trying to attain good mental health by watching Dr. Phil.
Don’t believe me? OK then, picture yourself at a business networking meeting. In front of you are three people:
-Cal Closer, a back-slappy type who puts his arm around you, crows about whatever it is he is selling, and palms off his business cards on everyone.
-Hannah Hungry, who flits around the room expectantly, asking everyone whether they have any leads for her services.
-Sarah Secure, who obviously loves what she is doing, but spends most of the discussion genuinely interested in you.
Now, which of these people would you rather talk to? Who would you go to for impartial advice? Whom would you trust your son or daughter with on a date? And now, for the bonus points: if they were all selling the same thing, which person would you buy from? There you go.
This is why I never sell. And, not coincidentally, why I am usually very busy. Prospects soon discover that I won’t ever try to “close” them, overcome their objections, try to get past their gatekeepers, or use any other tiresome techniques to push for a sale.
Instead, they know I will listen to them, be honest about what I can and cannot do for them, and above all respect their intelligence. If I am not a truly outstanding choice for them, in their judgment or mine, I am more than happy to suggest other options and then shake hands.
The same thing goes for my existing clients. Whether they use me every week or every three years, we still have the same great relationship. One where they can talk to me anytime, knowing that I will be focused on them and not on snockering them into giving me more work. You see, I believe they are intelligent people who know what they want, they already know I am great at what I do, and I am not going to risk a good relationship by foaming at the mouth trying to sell to them.
Think carefully of all of the “sales-oriented” people you know – men and women whose agendas are obvious, and who would never, even under pain of torture, suggest something other than themselves. If you are being honest, I’ll bet that anything you buy from them is probably despite their selling techniques, not because of them. Am I correct?
As for me, I learned my approach of “not selling” from, of all people, a car salesman. Jeff has always patiently let my wife and I test drive one car after another, never presses us to make a decision, and knows his products cold. He never asks us stupid questions like, “Are you prepared to buy a car today?” or “What would it take to get you into this vehicle?” That’s why we’ve purchased close to $100,000 in cars from him over the years, and hope to purchase $100,000 more. And why he’s always the busiest guy at the dealership. If Jeff’s employers ever make him read a sales manual, they’re toast.
There aren’t a lot of Jeffs out there, either on the car lots or in my profession. But when you toss out your books and tapes on how to sell, sell, sell and start focusing on making your clients happy, incredible things will start to happen in your life. Join people like us, and watch what it does for your own business.
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Rich Gallagher heads Point of Contact Group (www.pointofcontactgroup.com), a training and development firm that teaches people what to say in their most difficult situations. His eight books include What to Say to a Porcupine, a national #1 customer service bestseller, and his latest book How to Tell Anyone Anything. And not one of the over 10,000 people he has trained has ever heard a sales pitch from him.
CR: Thanks again to Rich for contributing. So much to learn from him…