Today's Quote:
"If your actions inspire others to dream more, learn more, do more and
become more, you are a leader."
- John Quincy Adams
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In this Issue...
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Paying It Forward: Fishbowl CEO David Williams on Mentoring
By Stephanie Christensen
Running a small business often requires shifting your competitive spirit into overdrive. But there can be equal
value in stopping for a moment to offer advice and guidance to your peers, particularly new entrepreneurs who
want to join you on the fast track, but are struggling with challenges you've already overcome.
Fishbowl, which makes the "#1 requested inventory solution for QuickBooks," also runs BoomStartup, a
mentorship-driven accelerator that supports upstart technology businesses. The Intuit Small Business Blog
recently caught up with Fishbowl CEO David Williams to get his thoughts on the value of mentoring.
ISBB: What inspired you to volunteer as a mentor to small-business owners?
Williams: Working with a mentee is in some ways like taking a course in Business 101. You go back and learn about
things you were unaware of, and see how you're perceived through the mentee's eyes. In turn, it actually helps
you to see things from a new angle and approach problem-solving differently. In business, you grow your network
by connecting with people - even someone less experienced.
What benefits, tangible and otherwise, have you realized for your own business by supporting others?
Building a profitable business in today's fast-paced, competitive, and demanding world means finding the
lowest-cost, highest-quality solutions for your organization's needs. There is no question that your greatest
asset is your people and their collective knowledge capital. Enhancing your organization's talent translates into
real bottom-line results. Unlike traditional training programs, which are often expensive and time consuming,
mentoring programs provide a cost-efficient alternative for getting employees up to speed and keeping progress
alive.
Why is having a mentor so valuable for small-business owners?
To break through to real success, you need a support system that's proven to work. Most truly successful business
owners I've seen have three kinds of support: a mentor, a coach, and a team. A mentor helps you look at your
business in new ways to determine what will get you to the next level and how to focus on those activities - both
personally and in business. A coach keeps you accountable as you work toward those goals. The support team, which
can be made up of family, friends, and business associates, keeps you moving through particularly difficult
situations and helps you celebrate successes.
What advice do you have for small-business owners who are interested in developing a mentor-driven program?
Anyone that's anywhere has had some help getting there, and helping others along their way is the best way to pay
back those who helped you. As a mentor, your role is to support, develop, stimulate, and challenge your mentee,
whether they're just starting up in business or are already established and seeking guidance. If you already have
plenty of business experience, consider offering your services as a mentor to other businesses. It's a very
rewarding way of passing on the benefits of your experience.
Read this article at the
Intuit.com
10 Ways to Motivate Anyone
By Geil Browning
Understand the unique brain and personality types of your employees to keep them invested in work.
You'll see amazing results.
I am often asked about how I keep employees inspired and productive. It's an essential question since
companies today must accomplish more, with fewer people. The most successful start-ups must be lean, nimble, and
fierce.
In a nutshell, you should hire bright, energetic, innovative employees. Then offer them the right incentives - the
ones that will impact their personal brain and personality types - to keep them mentally and emotionally invested
in doing their best.
It's impossible to talk about motivation without mentioning Drive, a book by best-selling author Daniel Pink.
(His TED lecture was turned into a fabulous video.) Pink notes that people perform best when they are given
autonomy, opportunity for mastery, and the belief that their task is meaningful. He says money is not the best
motivator, and that employees want to be "players, not pawns."
Pink believes Google's "20% time," in which employees may spend one day a week on whatever they want is a shining
example of how allowing intrinsically-based motivations (a sense of accomplishment or purpose) can flourish.
Personal endeavors from "20% time" resulted in Gmail, Google News, Orkut, and AdSense. Long before Google - back
in 1948 - 3M instituted the "15% solution" or "dream time," which yielded both Scotch Tape and Post-It Notes.
There's no question that intrinsic motivation is essential. However, I do not agree with Pink that all extrinsic
motivation (raises, bonuses, commissions, awards, titles, flex time, and other perks) is harmful. A skillful
entrepreneur keeps employees motivated with a combination of both.
That said, there is no cookie-cutter approach to motivating your people. What inspires one person may leave the
next cold. When you understand an employee's thinking and behavioral preferences, you'll be able to maximize his
or her enthusiasm. This will help you get your workforce aligned and moving in the same direction, and you'll see
incredible returns.
1. Analytical types want to know that a project is valuable, and that their work makes a difference to its success.
They need a leader who excels in a particular area, and whose expertise they believe benefits the group. They
prefer compensation that is commensurate with their contribution. If they have done a tremendous amount of work
on their own, don't expect them to be happy if you reward the whole team.
2. People who are "structural" by nature want to know their work aids the company's progress. They prefer a
leader who is organized, competent, and good with details. They like to be rewarded in writing, in a timely
manner, in a way specific to the task. An encouraging email is appropriate to communicate with them.
3. Social people want to feel personally valued, and that what they are doing has an impact on a project. They go
the extra mile for a leader who expresses faith in their abilities. They prefer to be rewarded in person with a
gesture that is from the heart. If your own preference is for written communication, send a handwritten note to a
particularly social employee.
4. Innovative employees must buy into a cause. To them, the big picture matters more than the individual who is
leading the charge. They prefer to be rewarded with something unconventional and imaginative, and would find a
whimsical token of your esteem very meaningful.
5. Quiet staffers don't need a lot of fanfare, but they appreciate private, one-on-one encouragement.
6. Expressive people feel more motivated when assignments are openly discussed and an open door is available.
They like public recognition, with pomp, and ceremony.
7. Peacekeepers hope everyone will move in the same direction. They'll never demand a reward or recognition, so
it's up to you to offer it.
8. Hard-drivers are independent thinkers. If they agree with you, they'll be highly motivated. They will let you
know what they'd like as an extrinsic reward, and they tend to want whatever it is right away.
9. Those who are focused team members must have confidence in the leader and in the project, or their motivation
may falter. They want know up front what kind of reward they can expect. Make sure you follow through on whatever
is promised.
10. Flexible people go along with the team, as long as a project does not contradict their morals or beliefs.
They're also happy with any kind of recognition.
Watch for the weakest link among your employees. If you have a slacker who consistently does less than everyone
else but seems to get away with it, this can dampen the motivation of everyone else.
Read this article at
Inc.com
Finding the Right Mentor to Help Grow Your Business
By Brad Sugars
People go into business for themselves for a lot of reasons, including freedom, control, and, of course, the
potential to make more money. But few entrepreneurs truly appreciate how much potential lies dormant in their
companies.
The best way to tap into this potential is to learn as much as possible about sales and marketing, conventional -
and unconventional - ways to generate cash flow, and strategies to develop low-cost, but high-quality leads.
You can get this from books or personal experience, but I would suggest working with an advisor or mentor to help
guide you. While it may seem like an unnecessary or unaffordable expense in terms of time and other resources,
outside counsel can be one of the best investments you'll ever make for your business.
You should acquire as much knowledge as you can from a trusted advisor who will hold you accountable for taking
the actions you need to be successful, even if you don't always agree or feel comfortable.
Related: Mentors: A Young Entrepreneur's Secret Weapon
Look at it this way: Starting a business is a risky proposition mainly because most first-time entrepreneurs
simply don't know the ins-and-outs of running a successful operation. Generally, it isn't lack of capital that
kills most businesses. It's lack of knowledge.
So what should you look for in a mentor or advisor? Here are four important considerations:
1. You should have good rapport with your advisor. This doesn't mean you should find someone who
will agree with your every decision. But it does mean you should work with someone who is a good fit with your
personality and who is willing to challenge your status quo. You can work one-on-one with a mentor, or you can
try to find a local network of like-minded owners. Such groups meet regularly to provide advice and feedback
about issues facing their members' businesses.
2. Your mentor should be someone who's "been there, done that." Beware of someone who claims to
have a "new" system or a "magic bullet" solution. Rely instead on tested veterans who have played the game
successfully. Not only can they reveal the secrets of their success, they also can be candid about their failures
and how to avoid them.
3. Your advisor would ideally have a framework for driving sales, repeat purchases, cash flow and profit.
In the best case, you should work with someone who takes your entire enterprise into consideration, or at least
has some good tools, tactics and strategies for the functions that drive sales and profits. Be wary of complex
strategies or hard-to-replicate systems.
Related: Three Steps to Finding a Business Mentor
4. Your mentor should hold you accountable for results. A mentor needs your permission to hold
you accountable for what you say you're going to do and when you're going to do it. He or she also should be
willing to guide you in a different direction or correct potential errors in judgment. Many hard-driving
entrepreneurs find such accountability difficult, but it can be one of the most valuable aspects of mentorship.
Can it be difficult to find an advisor who is willing to guide you? Perhaps. But once you start looking for that
person, you'll be amazed at the connections you'll start to make. And once you do find the right advisor, it can
make all the difference in the world.
Is all that effort really worth it? Recent independent studies have shown that companies that get outside
business help can generate a tenfold return on the investment. These days, you're simply not going to get that
type of return in stocks or real estate.
Simply put, no successful entrepreneur got to the top without a great team and a trusted mentor to turn to for
help and advice. So don't go it alone. Learn from others who have been there before and achieved the level of
success you're seeking. You'll cut years off your learning curve.
Related: Five Steps for Finding an Ideal Mentor
Read this article at
Entrepreneur.com
9 Ways Positive Thinking Leads to Success
By Barry Moltz
Most small business owners see the glass as half full. On the roller coaster of starting and running a company,
it is really the only way to survive and thrive. Jon Gordon, author of
The Energy Bus, believes that positive energy can actually be the difference between long-term success and
failure in any business.
In my full interview with Jon, he discusses how thinking positively can lead to success. Here are some takeaways.
1. You are the Driver of Your Bus. You have the ability to choose the ride you want. As Gordon
says, "You choose your energy and it will determine the ride, your attitude, how people respond."
2. Stop Blaming Others. In the long run, it's not their fault. Being accountable for your own
business is the reason you started a company, right?
3. Fuel your Ride with Positive Energy. Gordon believes that "whether we feed ourselves each day
with negative fuel or positive fuel, our attitude, our mindset, our belief, our optimism has a big impact on our
day." With positive energy fuel, you will be able to accomplish things that others thought impossible.
4. Lead with Optimism. Gordon studied great teams, leaders and organizations. He shows that
optimism is one of the defining factors of their success. "Optimistic salespeople outperform pessimistic
salespeople," Gordon says. "Optimistic leaders are able to get their people in the right direction and ...
create success. I work for a lot of NFL teams, for instance, and I've seen this principle play out."
5. No Energy Vampires Allowed. Gordon quotes Gandhi: "I will not let anyone walk through my
mind with their dirty feet." He points out that stress, business and fear are the main enemies of positive
energy.
6. Stop Complaining without Solutions. Gordon compares complaining to vomiting. He says that
"afterwards you feel better, but people around you feel sick." Ultimately, complaining is counterproductive and
hurts your company. Gordon's "No Complaining Rule" dictates that you are "not allowed to complain unless you
come with one or two possible solutions to your complaint." In this way, complaints will serve as a catalyst for
innovation and change within any company.
7. Be Thankful. Gordon insists that you can't be stressed and thankful at the same time. He
takes a "thank you walk" every day. Like in so many areas of our life, we become what we focus on.
8. Find Your "Why." Gordon advises people to stop seeking happiness at work. He says to
"instead, decide to work with passion and then purpose and happiness will find you. Find a purpose and allow it
to energize you." Gordon cites a mortgage broker he met that felt her purpose was "saving marriages because she
feels like if she can help people with homes they'll keep their marriage intact and the research shows that to
be true." The "why" helps overcome most challenges.
9. Share it at Work. Gordon states that leadership is really a "transfer of belief."
He encourages leaders to share them with their employees. He says we should start asking "What do we value?
What are our expectations? What are our beliefs? What do we want to accomplish?" It helps the employees become a
team and work toward a common goal.
How have you used positive energy to fuel your business?
Read this article at
OpenForum.com
It's Funny What a Little Spark of Creativity Can Do
By Jamillah Warner
Leadership sets the company's direction and atmosphere, and if you fail to establish an environment that
encourages creativity, then you get what you get - the status quo. Even in a hectic and fast pace setting your
attitude toward innovation and creativity can still make room for your staff to toss some fresh ideas your way.
But everything starts with the conversation that you have with yourself.
Do you give yourself room to think and operate outside the box?
Do you socialize with creative others in your industry? Being around your contemporaries can awaken a competitive
and creative spirit in you. Directing that energy, just may inspire a new idea.
If your life revolves around going to work and coming home and going to work and coming home, then you're
breathing the same old stale air.
Stop.
Go for a dream walk.
Go help your mentor do something.
Reinstate date night with your mate.
Hang out with your kids - they'll love you more for caring about what they care about, plus inspiration may find
you on the way home. Children have inspired all kinds brilliant and profitable business ideas including
Jibbitz - the little inserts that kids use to decorate their crocs.
Do you have wild and mad brainstorming sessions with yourself?
If you don't give yourself room to be creative, then it's hard to pass on what you don't have. Pull out that big
over sized pad and start writing down your ideas. I don't care how wild it is, put it on the board, you can filter
later. For right now, just let it flow.
As Anita Campbell, Founder of Small Business Trends, states in "
Are Your Employees Scared To Innovate?":
"You can’t expect employees to innovate if you're not thinking creatively yourself."
And how you spend your time can play a big roll in your creative process. John Mariotti gives some key advice in
"
When Your Career Is Over, But Your Life Isn't." In reference to retirement John says:
"Start with a plan…based on reflection about what you like to do…know how to do... or would like to learn."
It holds true for anyone trying to shake up their status quo. Do new and interesting things centered around
"what you like to do…or would like to learn." Make room for change and creativity in your own life and it will
show up in your business.
The by product of a creative environment is an inspired team that represents you well, even when they're off the
clock. In "Small Business In America: 10 Years After 9/11"
Susan L. Reid highlights the idea that being active and visible within the community creates stability. While
that's true and great for the city, that visibility is also good marketing.
This is more than staging events (which is important), it's real and abiding relationships within your community
around causes that matter to you, your neighbors and your business - for that to happen your team has to get
involved.
It's funny what a little spark can do. Inspire yourself. Inspire your team. Let your team inspire each other
(and you). Become active. Become visible. It's a natural return on investing in a creative environment on the
clock.
Read this article at
SmallBizTrends.com
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