Depending on the size of their business, entrepreneurs are frightened by thoughts of not making the payroll, the bank calling the loan, or the stock price falling.
Employees are frightened by the thought of losing their job.
Entrepreneurs are never frightened at the thought of losing their job because they never lose their job. Their job is to find new ways to grow. No failure can take that job away from them.
I remember my fears of losing my job when I was an employee. I remember the pain of losing my job – more than once. And I remember the day I no longer was afraid to lose my job but hoped that I would. That was the day I made the mental transition to become an entrepreneur.
We are driven most by our fears.
What frightens you?
This determines who you really are.
George Torok
Host of Business in Motion
Wednesday, July 26, 2006
Monday, July 24, 2006
Southwest Airlines
If you are trying to be all things to all people you might learn from this example.
From the book, Nuts, the story about Southwest Airlines, here is an example of how the CEO and founder focused on his best customers.
As I recall the story, a little old lady by the name of Mrs. Smith was unhappy with the service she received while flying on Southwest Airlines. So she wrote a letter to the customer service department. In her letter she complained about the way Southwest does not pre-assign seats (it is first come, first served), the humor of the staff, and generally everything about the way Southwest operated.
First the customer service representative drafted a reply, which was reworked by the customer service manager, which was reworked by the VP which eventually landed on the desk of Herb Kelleher, the President and CEO.
Most complaints did not get that far – but no one could get the reply just right. Everyone had been tripping over themselves to apologize for the way they operated.
The reply from Herb was, “Dear Mrs. Smith, We will miss you.”
Learning Point:
Everybody is not your customer.
Figure out who your customers are and treat them like gold; say goodbye to the others.
George Torok
Host of Business in Motion
From the book, Nuts, the story about Southwest Airlines, here is an example of how the CEO and founder focused on his best customers.
As I recall the story, a little old lady by the name of Mrs. Smith was unhappy with the service she received while flying on Southwest Airlines. So she wrote a letter to the customer service department. In her letter she complained about the way Southwest does not pre-assign seats (it is first come, first served), the humor of the staff, and generally everything about the way Southwest operated.
First the customer service representative drafted a reply, which was reworked by the customer service manager, which was reworked by the VP which eventually landed on the desk of Herb Kelleher, the President and CEO.
Most complaints did not get that far – but no one could get the reply just right. Everyone had been tripping over themselves to apologize for the way they operated.
The reply from Herb was, “Dear Mrs. Smith, We will miss you.”
Learning Point:
Everybody is not your customer.
Figure out who your customers are and treat them like gold; say goodbye to the others.
George Torok
Host of Business in Motion
Monday, July 17, 2006
Greed is Good
….As said by Gordon Gecko, played by Michael Douglas in the movie 'Wall Street'.
Some might have been repulsed by that statement. The reality is that greed is a major driver of people and business. We want more. Is that so bad?
Greed by itself is not bad.
Consider these greeds: You want a better job. You want to sell more. You want to grow your business. You want a nice vacation. You want more for your family.
How can any part of that be bad?
Greed is about wanting more. Bill Gates is the richest guy in the world. Was he greedy? Colombus wanted to discover a new route to India. Was he greedy? Of course they were.
Greed by itself is good. But the mix might be bad.
If you want to grow your business, success and wealth – you are greedy. And that is okay. Get over it.
Raising your price is greedy – that is okay – get over it.
You can be greedy and still a good person. Give yourself a break.
You can be greedy without being a bad person, a thief or criminal.
Wanting more is natural. Wanting to be number one is part greed.
Greedy people buy more – because they want more.
George Torok
Host of Business in Motion
Some might have been repulsed by that statement. The reality is that greed is a major driver of people and business. We want more. Is that so bad?
Greed by itself is not bad.
Consider these greeds: You want a better job. You want to sell more. You want to grow your business. You want a nice vacation. You want more for your family.
How can any part of that be bad?
Greed is about wanting more. Bill Gates is the richest guy in the world. Was he greedy? Colombus wanted to discover a new route to India. Was he greedy? Of course they were.
Greed by itself is good. But the mix might be bad.
If you want to grow your business, success and wealth – you are greedy. And that is okay. Get over it.
Raising your price is greedy – that is okay – get over it.
You can be greedy and still a good person. Give yourself a break.
You can be greedy without being a bad person, a thief or criminal.
Wanting more is natural. Wanting to be number one is part greed.
Greedy people buy more – because they want more.
George Torok
Host of Business in Motion
Thursday, July 06, 2006
Break the rules – Make the rules
Successful entrepreneurs break the rules.
The most successful entrepreneurs make the rules.
Rules are made by those that traveled this road before you. If you follow those rules you will be a follower.
Did Bill Gates follow or remake the rules?
Did Henry Ford follow or remake the rules?
Did May Kay Ash follow or remake the rules?
If you want to lead your industry – ask yourself – “Are you following or making the rules?”
The biggest winners are always the ones who break and remake the rules.
What rules have you made recently?
George Torok
Business in Motion
The most successful entrepreneurs make the rules.
Rules are made by those that traveled this road before you. If you follow those rules you will be a follower.
Did Bill Gates follow or remake the rules?
Did Henry Ford follow or remake the rules?
Did May Kay Ash follow or remake the rules?
If you want to lead your industry – ask yourself – “Are you following or making the rules?”
The biggest winners are always the ones who break and remake the rules.
What rules have you made recently?
George Torok
Business in Motion
Tuesday, July 04, 2006
Interview with Mark Elwood
Why is time important to you?
Time is a way of measuring how well we are doing. Showing up on time is a reflection of integrity. Completing things on time shows good planning. Doing things in less time demonstrates efficiency. And having time to reflect means that one is in balance.
Why do so many waste time?
Few people set out to waste their time. But they make choices that are not consistent with their values or goals. Those choices are wasted opportunities. So if you have a major project that is overdue and spend all night watching television, that's a bad choice. If family is important, but you work every weekend, that too is a poor choice. If you drive all the way across the city to save a couple of dollars on a purchase, that shows a lack of appreciation for the true value of time. There is a second type of waste, where other factors cause us to "waste" time. No one plans to get stuck in traffic jams, nor have to wait for a meeting to start, nor re-do a document after a boss has requested numerous changes. The challenge in these cases is to anticipate the possibility for waste and take measures to prevent it.
What surprises you most about your time studies?
After a quarter century of computer and communication technology designed to improve productivity, knowledge workers are still burdened by administrative tasks that take up 25% of their time. Technology provides wonderful advantages that were unthinkable a few decades back. Yet it has also created unanticipated side effects that slow people down.
How is your method different?
Time studies among knowledge workers have traditionally relied on questionnaires, observations, or diary studies. We ask people to track their own time using our proprietary TimeCorder device. Every time they change from one activity to another, they simply press a single button. It's easy to use, gives instant feedback, and is accepted by 96% of employees in our time studies.
What is your toughest time challenge?
My biggest challenge is ensuring that people keep the time commitments that they make. Unexpected things will happen and everyone becomes late on occasion, including me. Good manners and good business suggest that you tell others that you are going to be late. Nobody is perfect. But everyone can manage their imperfections.
Mark Ellwood
http://www.getmoredone.com/
(416) 762-3453
Mark Ellwood is the inventor of the TimeCorder and author of at least three books on how to use time wisely. (Some call that time management. But you can’t manage time; only your use of time.)
Books by Mark Ellwood:
Get More Done
A Complete Waste of Time
Cut the Glut of E-mail
Order his books here
George Torok
Business in Motion
Time is a way of measuring how well we are doing. Showing up on time is a reflection of integrity. Completing things on time shows good planning. Doing things in less time demonstrates efficiency. And having time to reflect means that one is in balance.
Why do so many waste time?
Few people set out to waste their time. But they make choices that are not consistent with their values or goals. Those choices are wasted opportunities. So if you have a major project that is overdue and spend all night watching television, that's a bad choice. If family is important, but you work every weekend, that too is a poor choice. If you drive all the way across the city to save a couple of dollars on a purchase, that shows a lack of appreciation for the true value of time. There is a second type of waste, where other factors cause us to "waste" time. No one plans to get stuck in traffic jams, nor have to wait for a meeting to start, nor re-do a document after a boss has requested numerous changes. The challenge in these cases is to anticipate the possibility for waste and take measures to prevent it.
What surprises you most about your time studies?
After a quarter century of computer and communication technology designed to improve productivity, knowledge workers are still burdened by administrative tasks that take up 25% of their time. Technology provides wonderful advantages that were unthinkable a few decades back. Yet it has also created unanticipated side effects that slow people down.
How is your method different?
Time studies among knowledge workers have traditionally relied on questionnaires, observations, or diary studies. We ask people to track their own time using our proprietary TimeCorder device. Every time they change from one activity to another, they simply press a single button. It's easy to use, gives instant feedback, and is accepted by 96% of employees in our time studies.
What is your toughest time challenge?
My biggest challenge is ensuring that people keep the time commitments that they make. Unexpected things will happen and everyone becomes late on occasion, including me. Good manners and good business suggest that you tell others that you are going to be late. Nobody is perfect. But everyone can manage their imperfections.
Mark Ellwood
http://www.getmoredone.com/
(416) 762-3453
Mark Ellwood is the inventor of the TimeCorder and author of at least three books on how to use time wisely. (Some call that time management. But you can’t manage time; only your use of time.)
Books by Mark Ellwood:
Get More Done
A Complete Waste of Time
Cut the Glut of E-mail
Order his books here
George Torok
Business in Motion
Saturday, July 01, 2006
Happy Canada Day!
Happy Canada Day to Canada and Canadians!
July 1, 2006, Canada is 139 years young.
Canada was born in Charlottetown, PEI on July 1, 1867.
Canadians, lets celebrate our country, in all it's beauty, diversity and opportunity.
I hope you enjoyed my tribute to Canada in the recent articles posted on this blog.
Happy Canada Day.
George Torok
Proud Canadian
July 1, 2006, Canada is 139 years young.
Canada was born in Charlottetown, PEI on July 1, 1867.
Canadians, lets celebrate our country, in all it's beauty, diversity and opportunity.
I hope you enjoyed my tribute to Canada in the recent articles posted on this blog.
Happy Canada Day.
George Torok
Proud Canadian
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