Ahh, the dreams of youth

April 4, 2012 / by Collaboration / in Creating a Business that Thrives!
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Do you remember when you were in your early twenties? The world was full of opportunities—your mind was spinning with new ideas to make it a better place. You were excited about your life’s goals and dreams. The passion, creativity and energy you had for your career and personal development were beyond compare to where your life may be today.

I was reminded of that time in my life about a month ago when I spoke at a Cal Poly entrepreneur class. The students in this program are exploring the possibilities of turning their ideas, inventions and concepts into potential business ventures. There was passion and excitement clearly evident from some of the students, along with the ‘not so sure’ confidence of others.

They’re being presented with an amazing opportunity to begin learning about building a business while they’re still in college. This next generation has a stronger desire to be “an entrepreneur” and build careers around their own businesses. For most of us, including myself, we were part of the “learn by doing” generation, and often our learning meant going to work for a larger company to gain enough experience to allow us the confidence to eventually venture out on our own.

What surprised me the most were some of the questions the students asked—actually, more like the questions they didn’t ask. They wanted to know “What motivates you to run your own business? Have you had any failures? What are the biggest challenges in growing a business? What prevents some companies from ever thriving? Why do you like owning your own business?”

Approaching two decades as a business owner, and having worked with hundreds of other owners over the years, so many other kinds of questions came to my mind that would have been more valuable: “What are the creative ways to finance your business? What are the things that keep you up at night as a business owner? How many hours do you typically work in a week? From where do you get your support, because isn’t it lonely at the top? What have you sacrificed to own your own business?”

All too often I come across business owners who didn’t realize how hard it was going to be to build a business until after they had already started it. They’d heard plenty of success stories about businesses that grew quickly, with owners constantly on vacation or playing golf. They’d heard about great product ideas that started as small projects and were quickly bought out by a large company, financially securing the developers for life.

Those situations certainly do happen, but they are few and far between. The reality is it takes many solid years of working hard and focusing on your dream to create a sustainable, profitable business—living through all the ups and downs of employee transitions, economic hardships and shifting client bases. There are also many sleepless nights and stressful periods that probably age us faster than normal. These are the things most entrepreneurs don’t think about or understand before starting their ventures.

So, is it all worth it? I think so. To see your dream or vision become a reality is amazing. I know for myself, I’ve impacted many people’s lives and businesses. The rewards may not always be the big financial gains from selling out to a “Google,” but the flexibility of my schedule and working with a great group of high performance individuals focused on inspiring, educating and empowering others is a significant added benefit.

Bottom Line

It’s never too late to dream and start something new—but if you do, don’t forget the value of understanding yourself, asking the right questions, and building a strong advisor group of those who will support you on your endeavor.

This is another article in a series on Michael’s entrepreneurial story and how being raised in a large family has influenced his career. To read the previous articles in this series, visit his blog at www.Collaboration-llc.com.

Michael Gunther is Founder and President of Collaboration LLC, a team of highly skilled business professionals who are dedicated to assisting proactive business owners to build profitable, sustainable businesses through results-oriented education and consulting services. Learn more at www.Collaboration-llc.com.

It is, truly, all about you

February 6, 2012 / by Collaboration / in Being a Business Owner, Creating a Business that Thrives!
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By Michael Gunther

I’ve begun the process of writing my first book. I’m focusing on why some business leaders seem to be able to grow their companies successfully, while others struggle and struggle just to survive.

This journey started many years ago, as did my interest in this topic, but as of late, I’ve begun to more clearly identify the similarities and distinct differences between these business owners. You’ll find many books about what it takes to be a successful business owner—the internet is full of resources, too, as well as the plethora of seminars and workshops available. But after nearly 20 years of working with business owners and leaders, I’ve identified three critical elements necessary to break through from the ‘always surviving mode’ to the ‘truly thriving mode.’ The bottom line: it’s all about you.

It’s about your ideas, energy, and passion, but more importantly, it’s about three additional key elements: 1) an inclusive proactive attitude, 2) a willingness to be continuously learning, and 3) a readiness to change your behaviors. There are other components needed, like strong internal structures, processes, communication, and a solid measurement system, but you could have all of that in place and still not thrive at the end of the day if you don’t have the right attitude, skills, and behaviors.

I know you may feel like you’re working hard and you have all of these attributes, but I believe that if you’re not achieving the goals you want, if you’re not building your business like you want, it’s your fault—not the economy, not the marketplace, not your employees. That’s right—it’s all about you.

If you truly embraced these concepts, you’d be thriving. I think many people have a higher sense of self and believe they’re doing the right things—but once you peel away the surface approaches or strategies, it boils down to these key components:

Attitude

“Survivors”: Individuals who blame everyone else for their lack of success, from elected officials to their customers, everyone but themselves. In addition, they have a negative attitude towards their situation and their employees. Who wants to buy from or work for a leader who’s a downer?
“Thrivers”: People who are willing to jump in and lead the charge to solve any issue. They also have a solid vision, but are realistic as to what it’s going to take to achieve their goals. In addition, they tend to have a strong belief in the power of their people—they realize if they make their team successful, they will be successful.

Continuous Learning

“Survivors”: Also known as seminar roadies, book junkies, guru followers—they know the latest information on management, seek out the one right answer, and yet they’re not applying anything. And then they wonder why they keep getting the same results time and time again.
“Thrivers”: Continuously learning from everything they do—small decisions and big decisions. They seek out counsel, whether it’s from other leaders, consultants, or industry peers. They realize they don’t have all the answers, but are willing to find the right answers. Most importantly they’re willing to apply and change their behaviors and processes.

Which leads us to the third key element…

Behavior Change

“Survivors”: They have the knowledge and tools, but are not willing to truly change how they’re doing things. This is by and far the biggest hindrance to a company becoming a thriving entity. Sometimes their behaviors are deep rooted, and sometimes they are just habits. But the lack of a true desire to change will only bring the same results, if not worse results, over time.
“Thrivers”: They realize they’re the ones who need to change. They are humble and willing to adjust as necessary to reach their goals. Think of top athletes, consistently changing their approaches and skills. Sometimes even a small modification can lead to significant improvement in results. They’re focused on their goals—not their ego getting in the way of their goals.

Bottom Line

Not reaching your goals? Take a hard look at yourself. Better yet, get real, honest feedback from those around you—employees, peers, partners, etc. Be open to their input (if you’re defensive it might indicate that they truly identified an area for growth). Learn from it, and change your attitude, behaviors, and/or skills. Then we’ll talk about how you’re moving forward!

Don’t Get Trapped in the Fog

September 22, 2011 / by Collaboration / in Creating a Business that Thrives!
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By Michael Gunther

It was extremely foggy and chilly this morning as I began to walk my two dogs on the beach. The fog was so thick I could barely see 40 feet in front of us. In fact, it felt almost like a movie set: contained, controlled and safe. But in reality, the roaring ocean was just a few feet away, as well as the unknown of what was further ahead.

In contrast, just a few short miles up the shore it was clear and much warmer. The sun was rising over the mountains, and it was going to be a beautiful day. Anything seemed possible as I looked across the waking city that was slowing coming alive.

This contrast had me reflecting on how many businesses are currently operating in the fog when they need to be operating in a clear and sunny environment. They’re focused on only what they see directly in front of them instead of being open to the possibilities that may be just ahead. They need to pay attention to their environment and their business.

I had a clear (no pun intended) example of this last week when I met with a potential client. They’ve been in business for more than 20 years – in fact, they have changed their business offerings three times in order to try to make it work. The recession hit them hard. They’ve increased their debt, laid off employees, and are nearing the point of closing their doors. As I explored where they were in their business, we discovered some interesting behaviors and attitudes that were holding them back (this is what I might call the ‘fog’).

The first issue was their attitudes – they kept hoping the economy was going to get better. As most are now aware, things are not necessarily changing, nor are they going to truly turn around for the positive for at least another three to four years. We all have to adjust in order to operate in this economic storm, as it’s the new reality. I’m all for hoping and having faith that things will improve, but I’m also aware of the reality of what’s happening right now.

The second issue we found holding this company back was their belief that their client profile and market for their services hadn’t changed. They had not adjusted their pricing, marketing tactics or sales process. The fact is every business has had to redefine their client profile as well as their products or services and pricing structures. Consumers are not on the old ‘spend before they have’ mentality. They’re becoming more frugal as well as making financial decisions much more carefully. Affordability is the new norm.

As I explained how these issues were holding them back, they began to understand and realize the business they had lost over the last few years because they hadn’t been willing to change. They realized that they must clear the fog from their heads in order to truly start growing their business again.

The truth is that once you understand the realities of your business and what’s happening in the economic marketplace, you can create a plan of action and change to allow you to thrive and enjoy the sunny and clear skies. Otherwise, you’re living in a state of denial and it can lead to the slow death of your business.

The Bottom Line

Are you assessing your business and the economic forces around you with the proper perspective? I encourage you to do this at least on a quarterly basis. The economy in which we’re living is fragile at best and only through consistent adjustments of our businesses and attitudes will the strong not just survive but thrive.

Why Are You in Business?

August 19, 2011 / by Collaboration / in Creating a Business that Thrives!, Leadership, Marketing
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Lately we’re talking a lot about the “Why” around Collaboration, a topic sparked by a recently discovered TED talk (Simon Sinek, How Great Leaders Inspire Action). Working with so many business owners and management teams, we hear a lot of the “What we do” and “How we do it.” Sometimes we get caught up in this way of thinking, because we assume that’s the information people need to know. The reality is, if we truly follow our Mission and Vision, “What we do” and “How we do it” is entirely based on “Why we do it.”

It’s this “Why” that actually attracts your target market and inspires them to choose you and your organization. One must have a vision and believe in their mission in order to be successful in an increasingly competitive market and economy. The assumption is that consumers want everything they purchase to be the fastest, cheapest and biggest and that those qualities equate to the best – but that’s not entirely true. True innovators are the ones who rise above the average and this is because they believe in the “Why.”

To use Simon’s example, Apple makes good computers, and they are uniquely designed. But it’s the entire branding of Apple products as an innovative leader within the technology industry that connects to their target market. Many companies make computers and mp3 players, but when people buy products from Apple they buy products that make their lives easier to manage and a whole lot more fun!

So when you go to your next networking event, or put together your latest marketing materials, or hire your next employee, consider your “Why.” Are you articulating it when you talk about your business? Do your flyers and newsletters convey it? Does this potential new hire understand and share it? It’s the ability to communicate the “Why” that will establish you as an innovative and successful leader, and there will be no limit to what your organization can achieve.

Collaboration in the Workplace: Strength or Weakness?

August 17, 2011 / by Collaboration / in Business Best Practices, Creating a Business that Thrives!, Leadership
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Dustin Mattison is a leader among business leaders. His talent lies in capturing the expertise of specific individuals and using the power of the internet to propagate these insights and help small businesses compete with larger organizations on a more level playing field.

Recently he interviewed Collaboration Founder and Managing Partner, Michael Gunther, about collaboration in the workplace as it specifically relates to the supply chain. CLICK HERE to learn what Michael had to say.

From All-Star Baseball to All-Star Business

July 12, 2011 / by Collaboration / in Business Best Practices, Creating a Business that Thrives!, Growing Your Business
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You’ve been given the opportunity to manage a baseball team in an upcoming exhibition game, and you get to choose your team: the 1986 American League All-Stars, or the 2011 American League All-Stars. After considering both rosters, you choose the 1986 team – Rickey Henderson, Roger Clemens and Cal Ripken Jr. – how could you not?

Just one problem…it’s now 2011, and Rickey Henderson is no longer the speed demon he used to be. On top of that, Cal Ripken Jr. doesn’t perform like the same “Iron Man” who earned that nickname. Granted, the talents of 2011 All-Stars Curtis Granderson and David Ortiz may not be equivalent to Rickey Henderson and Cal Ripken Jr. at their primes – but the simple fact that those players are currently the best is the reason behind their success.

From All-Star Baseball to All-Star Business

To survive in business, a company must continually adapt to current and future trends. Just because what’s been done for the past 20 years has worked, doesn’t mean that it still works today as well as it did then – especially during this Web 2.0 period, where generational gaps between business owners and technology are widening. Even if your company was the Rickey Henderson of its day, unfortunately, that time has passed.

So How Can You Stay On Top?

Collaboration has initiated the Small Business Best Practices Ongoing Research Study. Hundreds of small business practices will be researched, outcomes measured, and ultimately those key practices which are present and critical to maintaining thriving organizations will be identified. As a business owner, you can ensure your business remains on top by understanding these best practices and implementing them within your organization.

The complete findings of the study will be shared with all participants in order to stimulate economic growth, profitability and sustainability across the Central Coast through a collective IQ of the proven best practices.

Just Take a Quick 15-Minute Survey & Get the Complete Results!

All information provided is confidential and non-proprietary. This study is about identifying key processes, not learning the secret to what makes your products or services unique.

Based on the cumulative results from this initial survey, “typical” practices will be identified, and those businesses that stand-out as “exceptional” will be studied further. After the final stage, data will be compiled into a comprehensive report and made available to all participants.

This Study is ongoing, which means the research will be consistently gathered and results updated annually. For 15 minutes of your time, you’ll get the inside track to lead your business forward and stay on top!

Click here to Take the Survey Now

Are interns worth the hassle in your business?

July 7, 2011 / by Collaboration / in Creating a Business that Thrives!
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By Michael Gunther, Founder & Managing Partner

It’s that time of year again – our interns are graduating from college and leaving to start the next stage of their lives and careers. This year is especially hard because I think we’ve finally figured out how to make a successful intern program work for our business and thus, the individuals leaving – Gracie, Sam and Megan – have been huge assets to our team and will be missed as they pursue opportunities outside the area.

I’ve heard many stories about companies hiring interns and feeling that it’s not worth the effort or energy and that the interns didn’t really contribute anything to their organization. I remember the first time we brought on an intern a few years ago. We were actually approached by a student to join us so that he could fulfill his requirements in order to obtain his degree from San Francisco State. He was known then, and is still known in our firm, as “Kyle The Intern.” We weren’t really prepared to have an intern, but other businesses used them often within their establishments so we thought it was a great idea.

We learned through this experience (thank you Kyle for being our ‘beta test’ intern) that he was willing to learn and do anything we asked of him. We tried to make sure that he had the opportunity to see all aspects of the business, but we didn’t have a well thought out plan for his time with us. Thus, we didn’t maximize the value we could have from him.

We have since developed a solid process for screening and hiring strong interns. Interesting enough, this process has proved so effective that we’ve hired three of the interns part time after their 10 week internship.

A few of the things we learned:

1. Have a clear purpose or project for the interns. Legally you’re not supposed to use interns for administrative tasks – unfortunately, many people do this and the interns don’t gain the learning experience they seek. We actually outline specific projects we have coming up or internal programs we want to develop. We then define the skills and background we might need so that we can recruit the right individuals.

2. Recruit as if you are hiring an employee. Our interns come in for multiple interviews, take our WorkTraits Behavior Assessment and have to complete some homework before we decide if they are the right fit. In addition, based on our needs, we will actually go to the dean of a particular department at our university to see who they might recommend.

3. Treat them as team members. We put them through our new employee orientation program, have them read our employee handbook, etc. We want them to understand who we are and what we do so that they understand how each project they work is connected to what we do. We also provide specific outcomes to be achieved over their 10-week internship period. And we always include them in our team building social activities.

4. Meet with them on a regular basis. We meet one-on-one with them weekly to see how their projects are going, what they’re learning, and give them an opportunity to take on new responsibilities. We truly strive to make this a learning environment for them, and at the same time they’re assisting us in moving projects forward at a quicker pace.

We’ve been able to find great part time help through this process. It’s exciting to see their careers just starting off and know that we were a part of their initial journey into the corporate workforce.

Bottom Line

I would recommend that if you’re going to hire interns you prepare for them as if they are new employees. You can’t just leave them alone to do a project without some mentoring and management.

If implemented properly, internships can produce incredible results for your company and also provide a phenomenal experience for the students who are just in the infancy of their careers. And who knows, maybe these interns may come back one day to work with you once they’ve explored the rest of the world.

As a side note: Thank you to our graduating interns – Gracie, Sam & Megan – for all that you have contributed to our team! And good luck on your next adventure…

5 Simple Secrets to Strengthening Your Team

June 9, 2011 / by Collaboration / in Creating a Business that Thrives!
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Being exceptional in your position requires both skill and strong motivating factors. One can be highly proficient, but without a reason to achieve greatness he or she will most likely remain mediocre and simply meet the status quo. It takes leaders to shift your company culture, but being a leader is not strictly reserved for the business owner. Everyone has the opportunity to show leadership within their organization.

Here are 5 ways to strengthen your team, increase motivation and attain exceptional performance.

1. Know Your Team

Who are your teammates? Are you all from the same generation, or is there a mix? What are your backgrounds? Does everyone have a family or are they living the single life?

When you begin to understand the individuals within your team, you start communicating more effectively. Not everyone is motivated by the same factors, nor do they have the same work habits. Show them you care enough to make the effort to understand them and they will begin to make an effort in return.

2. Build Camaraderie

What activities does your team do together outside of the office? Have you ever so much as planned a Thursday happy hour and just taken the time to relax and talk about something other than the current project on your desk? Maybe there’s a community baseball game you could all attend with families included?

You don’t have to overlap your personal life with your professional, but choosing to do a social activity with your co-workers gives you the opportunity to get to know everyone (back to #1) and shows that you each prioritize these opportunities to get to know one another. When you care about the people with whom you work, you may find yourself working that much harder to contribute.

3. Listen & Incorporate Others’ Ideas

Once you’ve taken the time to get to know who the individuals on your team are, take the time to listen to what they have to say. Each person has something to contribute beyond their job duties, and most will go that extra mile if given the opportunity.

Create an “Innovation Station” on the wall where people can post their thoughts and ideas. Ask for advice when you get stuck on a project. Share your talents with others to help them overcome obstacles. If each person knows their voice is heard and valued, they begin to speak up and make that extra effort for the good of the entire organization.

4. Positive Feedback & the Power of a Simple “Great Job!”

A little encouragement and acknowledgement can go a very long way. When was the last time you heard a “Great Job!” from a co-worker or manager? When was the last time you made it a point to tell someone else they were doing a great job?

The simplest way to get a boost is to know you’re appreciated. If you know you matter to your team, you care that much more about your quality of work and contribution to the organization. Sincere gratitude yields great rewards.

5. Promote Educational Growth

Be proactive in furthering education. Maybe you’re a business owner who can provide your employees with the means to attend seminars or programs outside of your organization. Or you might be an employee with particular expertise in an area that would provide added value to your team.

It requires commitment, time and sometimes money, but the payoff can be exponential. One person’s attendance at a seminar can become their opportunity to lead monthly trainings within your organization and share their new skills to benefit the entire team. One employee’s expertise shared with the entire team can have huge benefits.

Here’s your challenge. Implement at least one of these ideas within your organization and see what happens. Report back on your team’s reactions, their level of interest and the results you see. What will you learn about yourself and how will you lead your organization further? Go!

5 Ways to Leverage Client Testimonials

May 13, 2011 / by Collaboration / in Creating a Business that Thrives!
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Successful businesses have happy customers – lots of happy customers. In this age of technology where all it takes is one bad experience to be spread from Yelp to Facebook throughout your community and beyond, the reverse can be applied to positive reviews.

There are many ways to capture the sentiments of satisfied clients, and sometimes you just have to think outside the box a little bit. Here’s 5 ways to easily leverage all those rave reviews:

1. Create and manage a Facebook page for your business. Ask your friends to “Like” it and begin to grow your fans. By adding a welcome page that offers an incentive for first time visitors, you’ll attract new clients, too! When you update your status don’t just give information, ask questions such as “What was your favorite experience with us?” You’ll begin to capture quotes on your wall for all your visitors to see, and your fans will begin to interact with each other!

2. If your products/services require you to spend a length of time working with a client, create an intake and completion process to assess and record their needs, past revenue, reason for working with you and the results they achieved. Get their feedback, and post their quotes on your website or in your marketing material (with their permission, of course).

3. Develop a process for capturing client success stories. Take a look back at your past clients, those who fit your target profile and have amazing stories to share. Reach out to them for interviews to either write their stories to add to your growing collection of client successes, or film them telling their story in their own words! (See #4 for ways to capitalize on your videos…)

4. Create a video channel for your business (Youtube and Vimeo are great places to start). By now you should be familiar with SEO (Search Engine Optimization, or, how people find you online), but there is also VSEO for videos. You can define these channels and individual videos to appear in video searches as well as general web searches. Nothing beats the authenticity of a satisfied client telling the world how amazing your business is through their own words and expressions!

5. Are you on Linked In? Similar to Facebook, but designed for professional interaction, Linked In is a great way to stay in touch with clients and strategic partners. You build a personal relationship focused on your business connections, and create a network of people who can attest to your expertise and professionalism, and vice-versa. Through Linked In profile you can reach out to those with whom you’re connected and ask them to give you a “Recommendation.” You’ll have a collection of testimonials in no time, from a variety of perspectives.

Now set some goals and get to work defining your strategy and leveraging your testimonials!

Business Owners-Don’t Just Survive. Thrive.

October 2, 2009 / by Collaboration / in Creating a Business that Thrives!, Growing Your Business, Overcoming Challenges in Business
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By Michael Gunther

If you are in business today, you can count yourself a success; many local and national companies have had to close their doors. In the past 12 months, you’ve been faced with issues that most of us have never been faced with before, from shrinking markets to severe credit requirements to sharp revenue declines to employee fraud. Whether you resized your team, redesigned your business model, or returned to the very basics of building your business, congratulations, you’ve survived.

Now is the time to figure out how your business can thrive in the coming 12 months, while overcoming the few peaks and valleys we will still face in the marketplace. Here’s how you can start:

First, take a look back over the last 12 months and analyze what you’ve done right and how you can improve. Ask yourself and your employees the following questions:

What changes have you made that worked?
What changes do you wish you had made?
What strategies did you employ that allowed you to survive the year?

Next, begin to look forward and establish at least three strategies to implement in your business this next year. I recommend looking at these three critical areas of your business, at a minimum:

BUSINESS DEVELOPMENT

If there is one thing businesses learned this last year it’s that we have to earn our customers’ business again. This means that creating solid business development processes is imperative to sustaining a healthy business. Here are a few questions to ask yourself:

Are there new marketing strategies that you can implement?
Do you need to adjust your product or service mix?
Is there a product or service that will be in high demand?
Do you have a solid sales infrastructure to support your financial goals?

FINANCIALS

Even though you’ve probably been trimming costs over the last 12 months, I suggest that you reevaluate all of your expenses again and create a realistic 12-month financial forecast. I have seen some businesses create a best case and worst case scenario with their budgets and they manage their expenses at worst case and their sales at best case. One tip for trimming expenses is to meet with your vendors and renegotiate your pricing or terms.

LEADERSHIP

Now is the opportunity for you to step up and be a strong business leader with an attitude of ‘thriving’ rather than ‘surviving.’ Challenge your team and yourself to be innovative in both growing and running your business. Your attitude will shape the attitude of your team and in turn will shape your business’ future. Remember: attitude impacts thoughts, thoughts impact behaviors. Keep your attitude in check.

THE BOTTOM LINE

Moving past survive into thrive mode will require you to step back and work ‘on’ your business and not just ‘in’ your business. Even if you identify just three new strategies to begin implementing, you will be ahead of the game.

Ahh, the dreams of youth

It is, truly, all about you

Don’t Get Trapped in the Fog

Why Are You in Business?

Collaboration in the Workplace: Strength or Weakness?

From All-Star Baseball to All-Star Business

Are interns worth the hassle in your business?

5 Simple Secrets to Strengthening Your Team

5 Ways to Leverage Client Testimonials

Business Owners-Don’t Just Survive. Thrive.

Who Is Collaboration?

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