No. 3 March 2014

Have you ever written an obituary for your company or brand?  I didn’t think so.  Continue reading to learn the reasons Denise Lee Yohn thinks you should.

In her recent Harvard Business Review (www.hbr.org) Blog, Yohn asked if your company or brand ceased to exist, would anyone care? She went on to ask, “Would journalists write headlines heralding your past achievements, or would their stories simply add you to a list of bygones? Would analysts express disappointment, or would they point to indicators that made your death predictable? Would employees wonder how it could have ended, or would they have known it was inevitable? Would customers mourn your passing, or would the demise of your brand go unnoticed?”

Yohn suggests an exercise for you to do that will help bring clarity to what people perceive is the “essence of your brand or business.” She says, “Think of your brand as though it were a person -- the type of person the brand would be if it came to life today and was executing all that the brand entails with consistent excellence.” Then, “pretend you are a reporter for a local newspaper who must write an obituary for this person, your brand, who just passed away today.”

Here are some questions she says you must answer in this obituary: “What was the person’s (brand’s) biggest accomplishment in life? What will it be remembered for? Who did the brand leave behind? What did the brand leave unaccomplished? Who will mourn or miss the brand, and why? What lessons can be learned from the brand’s life? What can be learned in the wake of its death? Now that the brand is gone, what will take its place?”

“Once you’ve completed the column,” says Yohn, “write a headline to capture the essence of the obituary -- that headline, in turn, often captures the essence of your brand.”

“How do you build the kind of brand that would be missed? How do you carve out such a distinctive position and create such a powerful emotional connection (with your customers)?” adds Yohn. “You drill down to the core of your existence to identify the essential enduring value of your brand -- and then you design and run your business to execute relentlessly on that core brand essence. When what you stand for is clearly expressed and delivered in everything you do, every day, you (will) make an indelible mark on people’s hearts and minds.”

Knowing what you, your business and your brand stand for and delivering that essence of excellence every day will touch your customers in a way that will bring them back to your business, time and time again.

Shane Parrish, in his excellent Farnam Street blog (www.farnamstreetblog.com), tells a story about “The Man Who Never Quit.” You may have heard it in the past, but it’s worth hearing again. It is an amazing story and true.

When he was 7 years old, this young boy’s family was forced out of their home and off their farm. Like other boys his age, he was expected to work to help support the family.

When he was 9, his mother died.

At the age of 22, the company he worked for went bankrupt, and he lost his job.

At 23, he ran for state legislature in a field of 13 candidates. He came in eighth.

At 24, he borrowed money to start a business with a friend. By the end of the year, the business failed. The local sheriff seized his possessions to pay off his debt. His partner soon died, penniless, and he assumed his partner’s share of debt as well. He spent the next several years of his life paying it off.

At 25, he ran for state legislature again. This time, he won.

At 26, he was engaged to be married. But his fiancée died before the wedding. The next year, he plunged into a depression and suffered a nervous breakdown.

At 29, he sought to become the speaker of the state legislature. He was defeated.

At 34, he campaigned for a U.S. congressional seat, representing his district. He lost.

At 35, he ran for Congress again. This time, he won. He went to Washington and did a good job.

At 39, when his term ended, he was out of a job again. There was a one-term-limit rule in his party.

At 40, he tried to get a job as commissioner of the General Land Office. He was rejected.

At 45, he campaigned for the U.S. Senate, representing his state. He lost by six electoral votes.

At 47, he was one of the contenders for the vice-presidential nomination at his party’s national convention. He lost.

At 49, he ran for the same U.S. Senate seat a second time. And for the second time, he lost.

Two years later, at the age of 51, after a lifetime of failure, disappointment and loss (and still relatively unknown outside of his home state of Illinois), Abraham Lincoln was elected the 16th president of the United States.

The next time you consider giving up when faced with setback, consider this story. Imagine how the world would be different today if Lincoln gave up after his first setback…or his second…or his 10th?

No. 12 December 2013

In a recent interview in the November 3rd edition of the Sunday New York Times, David Cote, the Chairman and CEO of Honeywell, talked about how making good decisions is critical to the success of a business.  A decisive business leader “wants to make decisions often and quickly (i.e. ‘give me what you’ve got and I’ll make a decision’.)  And the lower you are in an organization, you can get away with a lot of that and you’ll be applauded for it.”

“But with bigger decisions, you can make bigger mistakes, so you really have to think about the kind of decision you’re making.  Is this a decision where if I’m wrong, there can be significant ramifications?” 

“What I’ve taught myself to do is to tell everybody that this is a preliminary decision and we will go through it again in a day or two, because it’s so important to get it right.”

“If I’m very decisive and I surround myself with people who just want me to make decisions, then we’ll go off the cliff at 130 miles an hour, because at some point I’ll be wrong.  What I need are people who want to come to their own conclusions and are willing to think independently, and can argue with me in the right way so I can (keep the process) objective as opposed to emotional.”

“There’s this phrase I use a lot when I teach leadership classes at Honeywell:  ‘Your job as a leader is to be right at the end of the meeting, not at the beginning of the meeting.’  It’s your job to flush out all the facts, all the opinions, and at the end make a good decision, because you’ll get measured on whether you make a good decision, and not whether it was your idea from the beginning.”

In running our businesses, we spend a lot of time making decisions.  And each decision we make has a huge impact on our success, so it pays to make every decision as good as we can.  David Cote is suggesting that we can make better decisions when we’re armed with all the facts (i.e. you’re never as well informed at the beginning of a meeting as you are at the end.)  That’s something you should consider the next time someone pressures you to make a quick decision.

I hope you’re celebrating the Holiday Season with family and friends and not setting new world-records for eating the most food at a family get-together.  Sometimes you want to say out-loud:  “Wait a minute, this isn’t an eating contest, is it?”

Here’s my favorite Charles Schultz story that really puts “what’s important in our lives” into perspective:

“Every time I see these questions make the rounds via email around the Internet, I’m reminded of what truly is important in life.  Don’t answer the questions. Just read it to the end, and you'll get the point.

1. Name the five wealthiest people in the world.

2. Name the last five Heisman trophy winners.

3. Name the last five winners of the Miss America Pageant.

4. Name ten people who have won the Nobel or Pulitzer Prize.

5. Name the last half dozen Academy Award winners for best actor and actress.

6. Name the last decade's worth of World Series winners.

How did you do?

The point is, none of us remembers the headliners of yesterday. These are no second-rate achievers. They are the best in their fields. But the applause dies. Awards tarnish. Achievements are forgotten. Accolades and certificates are buried with their owners.

Here's another quiz. See how you do on this one:

1. List a few teachers who aided your journey through school.

2. Name three friends who have helped you through a difficult time.

3. Name five people who have taught you something worthwhile.

4. Think of a few people who have made you feel appreciated and special.

5. Think of five people you enjoy spending time with.

Easier?

Give yourself credit for remembering the people who really made a difference in your life.  They didn’t have the most credentials, the most money or the most awards.  They just cared about you.  Whose life have you made a difference in recently?”

Remember that you have a choice every day about how you approach life and the people around you.  Make it positive.  Make it thankful.  Count your blessings.  Then share a few.  Happy Holidays!

No. 11 November 2013

I read an interesting online article by Michael Schrage titled, “Time to Hang Up on Voice Mail.” I don’t know about you, but I’ve almost done that already. Who wants to leave a 90-second message after the beep, much less listen to one? We all have faster, better and friendlier ways to communicate.

Have you received a notice yet from a personal or corporate voice-mail box, warning you that messages are rarely retrieved and you would be better off sending an e-mail or text? Schrage says, “Truly productive people have effectively abandoned voice mail, preferring to visually track who’s called them on their mobiles. Irritated office workers, by contrast, despair that their desk phones can’t display who’s called and when. When that occurs, they’d be better off if office calls were forwarded to their devices with the relevant Caller IDs attached.”

“For most organizations, the only people who matter going into voice mail are customers and clients!” adds Schrage. “How smart and customer-centric is that? Not very. Nobody wants to be put in voice mail anymore, and it’s quite likely that customers and clients aren’t listening to your voice-mail messages either.”

Schrage ends with this comment, “(Do) you want to have better, faster and more responsive communications inside your organization and save some money besides? Have an online conversation about online communications – and unplug your voice-mail system. If you’ve got a problem with that, don’t bother to comment. But do feel free to call me and leave a message.”

A super container freighter measuring 1,500 feet long by 196 feet wide by 10 stories high is currently under construction. These super ships are so huge and sit so low in the water, that the Port of Rotterdam has already started redesigning and dredging their existing port, as well as modifying berthing and loading accommodations for first use in 2014. It will initially be the only port in the world capable of handling these super freighters.

Did I mention these super container ships will be able to carry 22,000 containers at a time? If you are importing bicycles and each container holds 175, the new super freighters will be able to transport 3,850,000 bicycles in one trip! If you were ordering cable set top boxes, knowing that one container will hold 6,000, you could receive 132 million of them in one shipment. Unbelievable, isn’t it?

Everyone knows that happiness is a state of mind, right? Wrong! Happiness is a state of a positive mind. Negative people can easily find faults in any happy situation, and positive people do exactly the opposite. When you have a positive outlook in life, happiness will find a way. Happiness is more of a personal choice (a statement you’ve read more than a few times in this column).

Even the most optimistic of us can find ourselves in a rut where everything seems to be going against us. But if you take a close look at yourself that very instant, don’t YOU have a lot to be grateful for? William Penn said, "The secret of happiness is to count your blessings while others are adding up their troubles.” When you list down all the things that you feel privileged to possess and often take for granted, you will suddenly realize and appreciate even more, what you have been blessed with. Positive thinking will turn your obstacles into opportunities.

I leave you now with Dale Carnegie’s poignant words about the power of a smile. Read and remember them.

"It costs nothing, but creates much. It enriches those who receive, without impoverishing those who give. It happens in a flash, and the memory of it sometimes lasts forever. None are so rich they can get along without it, and none so poor but are richer for its benefits.

"It creates happiness in the home, fosters goodwill in a business, and is the countersign of friends. It is rest to the weary, daylight to the discouraged, sunshine to the sad, and nature’s best antidote for trouble.

"Yet it cannot be bought, begged, borrowed, or stolen, for it is something that is no earthly good to anyone 'til it is given away. And if, in the hurly-burly bustle of today's business world, some of the people you meet should be too tired to give you a smile, may we ask you to leave one of yours?

"For nobody needs a smile so much, as those who have none left to give." 

No. 6 June 2012

Hope you’ve been appreciating this wonderful spring and summer we’re having.  Spring came early this year and appears to be sticking around, unlike 2011 when spring arrived early in March for a large part of the country and then immediately disappeared until May.  This nice warm weather is apparently influencing consumers to spend more time and money on their yards.   Demand for equipment is strong, as is service, parts and accessory sales.  Many OEM’s cannot keep up with unit demand.  Let’s all enjoy it while we can!

Have you heard about “showrooming?”  If you haven’t, you better get ready for it because it’s coming your way very soon.  And I suspect you’re not going to like it when it walks in your front door.

An April 11 Wall Street Journal (WSJ) article about “showrooming,” explained what the term means.  “’Showrooming’ is when a shopper walks into a ‘bricks and mortar’ store (it could be your store) to scope out merchandise and then ends up buying the products they have seen in the store from a rival’s website at a lower price.  ‘Showrooming’ hurts the bottom lines of traditional stores while benefitting online-only retailers such as Amazon.com which have the advantage of lower overhead costs and mostly can skirt the collection of sales taxes while often allowing customers to avoid shipping fees.  In a recent survey by ClickIQ Inc., ‘half of shoppers who buy products online first checked them out in a traditional store.’ 

What are savvy retailers doing to fight “showrooming.”   The April 11 WSJ article had these answers: “Target pushed its suppliers to offer it exclusive products not found at competitors.  Wal-Mart is emphasizing in-store pickups for online orders, many available the same day they are purchased – allowing customers to avoid shipping fees. 

Some retailers are trying apps to drive shoppers to both their stores and websites, allowing them to create shopping lists or receive daily-deal alerts and exclusive discount coupons on their phones.  Some experts think such targeted discounts, along with loyalty rewards programs, may make higher shelf prices less problematic for retailers.” 

While there will be winners and losers amongst the big retailers, so far, the OPE industry has shown that consumers will still strongly support local dealers and retailers who offer a personal positive sales and service experience and a strong appreciation for their loyal customers.

Is it true that cannibals don’t eat comedians because they taste funny?

Harvey MacKay recently told this hundred-year-old story regarding the creator of Sherlock Holmes illustrating the importance of noticing little things and knowing your audience.

Sir Arthur Conan Doyle, the creator of Sherlock Holmes, was quite impressed with the observational powers of a cab driver who picked him up at the train station after a vacation in the south of France. As he stepped into the cab and put his suitcase on the seat next to him, the driver surprised him by asking him, "Where would you like to go, Mr. Doyle?"

Doyle was surprised that he knew his name, and asked whether they had ever met before. The driver said no, which prompted Doyle to ask how he knew who he was.

The driver replied, "This morning's paper had a story about you being on vacation in Marseilles. This is the taxi stand where people who return from Marseilles always come to.

Your skin color tells me that you have been on vacation. The ink spot on your right index finger suggests to me that you are a writer. Your clothing is very English, and not French. Adding up all those pieces of information, I deduce that you are Sir Arthur Conan Doyle."

"That and your name is on your suitcase."

This coming Sunday afternoon, pick yourself up out of the chair in front of your TV and take your family or some friends or just yourself for a drive through the countryside.  Take time to inhale the fresh air and see how farmer’s crops are coming along.  Stop by a river or stream and just stare at the water for a while.  Try to notice and see things all around you that you normally don’t see or look at.  Now head for home and take that nap you just earned.  You’ll feel refreshed and good about yourself.  And Monday will be just another great day.

No. 9 September 2011

What a crazy year 2011 has been.  But I suppose that makes it normal.  When I see an uptick in outdoor power equipment parts and accessory sales, or I see or read about a substantial rain storm somewhere, and start feeling positive, I know I can count on a television or radio, economic or political newscast to make me feel “blue” again.

But wait a minute. Enough complaining.  What about all the good things happening to us and our businesses? Can’t we focus on that for a while instead of the negative? Take a pen and write down five positive things about a family member, a terrific employee (or something “neat” that happened at your business) or a friend who is always there for you. We focus so much on what is not good in our lives that we tend to ignore all the good things going on around us.

I truly believe that every morning when we wake up, we get to choose what kind of person we will be that day (i.e. How we will approach life). Will we see the glass half full or half empty? Will we choose to be unhappy and grumpy, or will we choose to be positive and upbeat? Our decision affects everyone around us and influences how they face their own challenges and opportunities.

I made a decision many, many years ago that I would not let unhappy people make me unhappy too.Unhappy people go through life trying to make everyone around them as miserable as they are. You and I can be foils to that type of person who receives pleasure from making us miserable. Don’t let them. Focus on the good and positive. Ignore their complaining and ranting. I suppose we might say, “Ruin their day” by smiling, being positive, and focusing on making the good things happening around you even better. It’s simple. And it works.

Although I wasn’t a close friend, I did get to spend some one-on-one time over the years with Jay Peck, president of Subaru Industrial Power Products, usually at dinner or in a business meeting. After a brief battle with cancer, Jay passed away on August 10. It’s never easy to lose a family member or business acquaintance so quickly and unexpectedly, especially someone you admired and respected. Jay’s family, his friends and his industry will miss him greatly.

Want to be a better person, boss, employer, dad, mother or friend, and seem composed and smarter too? Of course you do. So try doing some of these things: Do one thing at a time. Know the problem.  Learn to listen. Learn to ask questions. Distinguish sense from nonsense. Accept change as inevitable. Admit mistakes. Say it simple. Be calm. And don’t forget to smile, smile, and smile some more. Just do it.

Did you see where Google bought the phone manufacturing arm of Motorola for $12.5 billion? That’s certainly not “chump change,” is it? The Motorola division it actually bought is called Motorola Mobility. But some people are suggesting that it be called “Googorola.” Seems only appropriate, doesn’t it?

You may have a lot of passion about making your business a success. But you have to remember passion is not the key to business success. Building a successful business requires a lot more than just passion.  Passion gives you the energy and drive to get you through the challenges you face every day. But then it takes commitment and dedication to reach the next level.

Business success depends on practicing the fundamentals daily, keeping your eye on the goal, being willing to be coached, and maintaining a strong and committed work ethic. There are lots of passionate people in the world who never achieve their goals. Building a business is plain old hard work. And just like a great athlete, if you don’t have the discipline to get up and go after it every single day, then you’re not going to be successful. Do you have what it takes?

I found the following anonymous quote on the Internet and wanted to share it with you:

“Imagine there is a bank account that credits your account each morning with $86,400. It carries over no balance from day to day. What would you do? Draw out every cent, of course.

“Each of us has such a bank. Its name is time.

“Every morning, it credits you with 86,400 seconds. Every night, it writes off as lost, whatever of this you have failed to invest to a good purpose. It carries over no balance. It allows no overdraft.

“Each day, it opens a new account for you. Each night, it burns the remains of the day. If you fail to use the day’s deposits, the loss is yours. There is no drawing against ‘tomorrow.’ You must live in the present on today’s deposits. You must invest it so as to get from it the utmost in health, happiness and success.

“The clock is running. Make the most of today.”

No. 5 May 2010

Our grass is green and growing.  You know what that means don’t you?   Right!  It means spring is here and we’re being attacked by the curse of pollen, watery eyes, runny noses, sinus infections and headaches.  Nevertheless, I still love springtime!

Does the nice increase we’re seeing in our dealer’s early and large purchases of equipment and parts reflect their renewed optimism for 2010?  Or does it reflect their customers early season purchasing habits?  Let’s hope it’s both.

Remember the old saying “Nothing is new, it is just forgotten?”  As our government begins to try to control the price of health care, I remember back in 1973 when President Richard Nixon’s Cost of Living Council froze gasoline prices.  I suspect most of you don’t remember what happened next.  Let me remind you.

Consumers were ecstatic at the beginning. But very quickly they realized their choice was not between high price and low price gasoline; their choice was between gas and no gas.

Oil companies and their gas stations responded to the price freeze by curtailing supply, limited customers to half a tank’s purchase, shutting down early and closing on Sundays.  How well I remember waiting many different times in a line at a service station to purchase gas - a line that might have over 50 cars in it.  And it wasn’t unusual to wait in line for more than an hour.

The conclusion was that the cost in inefficiency and time lost was greater than any benefit derived from a regulated price.  Now I’m wondering what the unintended consequences of regulating health care pricing and costs will be on you and me?  Maybe our politicians in Washington need to be reminded, "Those who forget history are doomed to repeat it."  Let’s hope not this time.

April 1, 2010 was the eighteenth anniversary of the US Lawn Mower Racing Association.  Who would have ever guessed?

It comes as no surprise that one’s educational attainment typically has a direct impact on employment. 

The jobless rate for those workers with less than a high school diploma was 14.5 percent in March of 2010.  For those with a high school diploma, but no college, the rate was 10.8 percent.

For those workers with some college or an Associate’s degree, the jobless rate was 8.2 percent. For those with a Bachelor’s degree and higher, the average unemployment rate was 4.9 per cent.

I think those numbers speak for themselves.

Caterina Fake, the co-founder of the photo-sharing Web site Flickr, has banned meetings in her businesses.  How does she get things accomplished and provide direction without meetings. 

She says, “Interactions should be constant, not crammed into meetings once a week.  You just turn around in your chair and bounce an idea off one of the other 10 people in your office.  Keep the floor plan open so people can talk to each other.  And as the company gets bigger, keep dividing it into small and smaller groups.”  

I know I would vote to do away with meetings in my business, if I could.  But I can’t imagine not having a meeting when it was needed.  It’s the meetings we have when we don’t need one, that are worrisome and time wasters.

To my friends who enjoy a glass of wine each night… and to those who don’t and are always seen with a bottle of water in their hand, I share with you my favorite Ben Franklin quote, “In wine, there is wisdom, in beer, there is freedom, and in water there is bacteria.”  I think his words sum up my feelings very nicely!

Here are two anonymous quotes I really like about living life to its fullest.

The first says, “Don’t let your life slip through your fingers by living in the past or the future.  By living your life one day at a time, you live ALL the days of your life.”

And the other says, “Don’t take for granted the things closest to your heart.  Cling to them as if they were your life, for without them, life is meaningless.”

No. 4 April 2010

As I write this column on Friday, March 19, the sun is out and the temperature is expected to reach 70 degrees.  The beautiful weather is forecast to continue right through this early spring weekend.  The nice weather really makes it hard to stay focused on work.  I keep looking out the window wishing I was outside.  Anybody in a business related to the outdoor power equipment industry knows the feeling you get when the weather begins turning away from winter and closer to spring.  It makes your pulse race a little quicker!  It makes you smile!  You know “our time” is coming.  Spring has just about “sprung!”

Dealers and service centers have already purchased more parts and accessories for the 2010 spring season than they did last year by this time.  Most appear to have had a successful 2009, even as consumers continued not to have much to feel good about.  Our good year in 2009 reflected the generally good year our dealers and service centers had.  And we’re optimistic about 2010.  I hope you are too!

Speaking of “hope,” in Greek mythology there is a story about Pandora, who opened her fabled box and let out all evils except for hope.  The Greeks considered hope to be an evil like any other.  But soon humanity discovered that without hope to offset their troubles, the world was filled with despair. So Pandora let out hope as well. In the myth, hope was more potent than any of the other major evils.

In modern times, we consider hope to be anything but evil. It's what gets many of us through our worst days.  Lingering unemployment, foreclosure, dwindling retirement funds, businesses folding — any of these could make a person lose hope.

Fortunately, Pandora recognized the relevance of hope — an element that is critical to our very existence. In the current business climate, hope is what keeps us from throwing in the towel. I'm a realist, but I'm also an optimist. And while hope and optimism are not exactly the same, they are intrinsically linked.

I recently read that:  “All of life’s problems can be solved with two things—duct tape and WD40. If it doesn’t move and it should, you need WD40.  If it moves and it shouldn’t, you need duct tape.”  Give it try some time when nothing else seems to work.

The Outdoor Power Equipment and Engine Service Association (OPEESA) recently held their annual members meeting out in “toasty” Arizona on February 28 to March 3.  I suspect a lot of your suppliers -  whether OEM’s or distributors - attended the meeting.

Todd Teske, the CEO of Briggs & Stratton talked about the state of the OPE industry.” The returning and very popular economist Brian Beaulieu provided solid information about the current economy and what’s coming next.  Steve McClatchy discussed the “Business of You” and how to gain balance between your business and personal lives.  Industry speakers like Todd Teske and business and economic speakers like Brian Beaulieu made the meeting very worthwhile and fulfilling to attend..

I know when we get our dealers and service centers together for various types of meetings, they discover that they get their best ideas and take-aways from other attendees. Likewise, when we attend an association meeting like OPEESA’s, we take away just as many ideas and learnings from other attendees as we do from the speakers.  So the next time you don’t “feel like” attending a meeting, remember there is always a lot of value in being with and learning from people who face the same opportunities and problems you do.

You don’t need a dictionary to understand a title Robert Schuller’s inspirational book, Tough Times Never Last, But Tough People Do.

Caterina Fake is the co-founder of the photo-sharing Web site Flickr.  And she hates meetings.  When she use to have to hold a meeting, this is how she structured it:  “There would be an agenda distributed before the meeting.  Everybody would stand.  At the beginning of the meeting, everybody would drink 16 ounces of water.  We would discuss everything on the agenda, make all the decisions that needed to be made, and the meeting would be over when the first person had to go to the bathroom.”   Following her meeting rules, I believe we would have a lot of short meetings in my company or we would hold them in a bathroom!