Some Fringe Thoughts from the last couple of days:
"If you want to succeed, you should strike out on new paths rather than travel the worn paths of accepted success" - John D. Rockerfeller
The definition of insanity - doing the same thing over and over again and expecting a different result - Einstein
From Guy Kawasaki's venture voice piece about financing - 3 things that Venture Capitalist seek when evaluating whether or not to invest in a company:
Experience Management Team
Developed and Tested Technology
Validated Business Model
Guy says that usually the most successful companies either have 0 of 3 or 1 of 3 because they are the companies on the fringes and in new and untested markets.
Successful sales people have to be Evangelists of their products and services - if they don't believe that they can improve customers business they will not be successful.
Do you do things TO your customers or FOR them?
When building a company you should focus on developing your technology and getting customers as opposed to trying to raise money - Jason Calananis - Weblogs, Netscape.
While going through the fund raising process over the past couple of months I have learned a great deal. It is apparent that a company needs to differentiate itself to investors and to do that you must approach the investment community with a unique creative approach along with having a great technology and customers. There is also the trade off between the time you invest in raising $ versus going out and trying to grow your customer base. There is a very fine line between these two and both are critical to the success of the company especially with limited resources.
I will be continuing to try and figure out how to differentiate Tel-e-Atrics in the investment community along with going out and building our customer base.
I am catching up on my weekly readings and as always Jeffrey Gitomer has some great insights into life and business. In his Sales Caffeine Issue 256 he presents a few thoughts on how to do you best everyday. They are copied below.
1. Wake up early. The early bird does not get the worm. The early bird makes the money. Work while others sleep.
2. Love what you do. If you don't live it, you will never rise to the top. Love it, or leave it.
3. Dedicate yourself to being a life-long student. How many
books did you read last year?
4. Convert anger to resolve. Anger is the biggest waste of
energy on the planet. It blocks positive thought. It blocks
5. Convert barrier to breakthrough. You may know it as
objection. Or even rejection. Stick at it until you win, and
you will gain personal, mental dominance.
6. Take every “no” as “not yet.” You don’t hear with
your ears. You hear with your mind. The way you accept
other’s words will determine your fate. Gain an attitude of
7. Watch little or no television. You’ll never succeed watching
television. Convert TV time to study time. Convert TV time
to preparation time. Convert TV time to thinking time.
Invest your time, don’t spend it.
8. Read for twenty minutes every morning.
Reading providesthe opportunity for quiet insight. You can reflect on the ideas
and thoughts of others, and immediately convert them to
your own success formula. Your best chance for success is
reading. Learn to earn. Read to succeed.
9. Write for twenty minutes every morning. What should you
write about? Anything you want! Begin to clarify your
thoughts and ideas in writing.
10. Call people you love -- and tell them you love them.
Love is not motivation. Love is inspiration. To be your best,
you must go beyond motivation -- to inspiration.
10.5 Tell yourself you’re the best. “I am the greatest of
all time.” Muhammad Ali said that thousands of times.
Millions of people agree he was the greatest of all time.
He began that journey by telling himself first. So can you.
If you can implement these simple rules your life will begin to change both personelly and professionally. A few of them stand out to me.
# 2 - Love what you do - If you can do this you job is not work but it is life.
# 3 - Be a lifelong student - I have dedicated myself to this objective and will continue to learn and grow throughout my journey.
# 7 - Watch little or no television - If more Americans did this and focused their attention to achieving their goals and dreams many more people would achieve what they want to accomplish in life.
# 8 and # 9 Read and Write every morning - I feel better when I can do this but struggle to do it specifically in the morning for whatever reason.
There was a good article in the WSJ today about Lillian Too. The asked her what advice would you give someone starting his or her own business today? Her answer was the most important thing is to make sure you can identify your sources of income. If you don't have a source of income, all the grand ideas of the world are useless.
I agree 100%. I have been trying to figure out how I can pursue the things that I love to do at a time when I am not financially independent to pursue them without a steady paycheck. I have been able to do it by working 1 job to pay the bills and 1 job which I love to grow and learn. I believe the time that I am putting in now will payoff in the long run and allow me to pursue and spread grand ideas in the near future!!!
Jeff had some more great insights this past week regarding life and sales:
Perform random acts of kindness - they are almost always passed on. What is your popcorn?
People quit there jobs for two main reasons of which money is not one of them:
Bad leadership and complacency - Leaders need to focus on their people and their needs.
Management allows employees to stick around when they need to go - some people quit mentally and show up everyday but do not do anything
Leaders should try the following things
Listen to your employees - really
Talk with your people - speak with them and not at them. Make the effort to be empathetic with your employees.
Serve your employees - listen and observe and you will be able to uncover ways to help them out.
Replace the word accountable with achievement.
Great leaders are servants to their people.
As I continue to grow and learn I want to incorporate these leadership tips into my daily activities. I am a big believer that if you understand what your employees goals and dreams are and you can help them meet and achieve them everything else will fall into place. If you can do this your employees will be loyal to you and using a sports analogy they will be willing to run through the wall for you.
That is the kind of boss that I want to be and will work hard to attain.