Tag Archives: Brian Smith – Reformed Control Freak

Do You Have What It Takes?

Competitive Advantage, Leadership Development, Management, Personal Development, Personality Types, Self-Help • Tags: , , , , , , , , ,

entrepreneurshipAre you thinking of taking the big plunge and going into business for yourself? Do you think you have what it takes to be a successful entrepreneur? I was recently contacted by a first year business student who had to go out and interview three entrepreneurs as part of a class assignment. He had to ask them three questions. If you are looking to go into business for yourself I thought you might be interested in my answers. I have had the good fortune of being self-employed since 1998. Starting and running your own small business is not for the faint of heart. Matter of fact – in a recent Industry Canada study conducted by Eileen Fisher, Schulich School of Business, York University and Rebecca Reuber, Rothman School of Management, University of Toronto, concluded that thirty percent of all new small businesses won’t survive longer than two years, and only half make it to year five. Some of the reasons for those failures are out of your control, but most are because of the bad decisions you will make. Lack of management or financial skills are in the top five.

Here are my answers to his three questions. I hope it will give you some valuable insight into what it will take to be a successful entrepreneur.

1 – What made you decide to own your own small business? I had managed other people’s businesses for a number of years, with the idea that I wanted to own and operate my own small business some day. Being my own boss appealed to me. It proved to be a great training ground for me. I got to learn what to do, and more importantly, what not to do. The best part was I got to make those mistakes on someone else’s dime. I recommend that to anyone looking to start their own small business. Work for someone else until you’ve learned enough to start your own.

2 – What are five key characteristics that you feel are important to have to be a successful entrepreneur? I believe there are a number of key characteristics you need to be successful. Some you will do well, others you will need to learn. Here are my top five. I’ve listed them here in no particular order.

  • Time Management: Be able to manage your time well. Learn to prioritize what needs to be done so that you do the most important things first. Sometimes that will mean doing things you don’t like to do. We tend to spend our time on things that we enjoy doing or that we are good at. Be disciplined enough to complete your “A” item before you work on your “B” or “C”.
  • Open Mindedness: You only know what you know – you don’t know what you don’t know – and it’s what you don’t know that could hurt you. Don’t be afraid to ask for advice – and be smart enough to take it. That’s how we learn.
  • Empathetic: Be able to see things from another person’s point of view. People make mistakes. The important thing is how you react to them.
  • Communicate: You must be able to communicate in a way that others will understand. If you can’t communicate both by the written word and verbally, then you stand little chance of being understood.
  • Goal Setting: Being successful is a planned event. Put a plan together to accomplish your goals. Great plans start with the end in mind. Have a clear vision of what you want to achieve and then put a plan together to get there. However, you need to be flexible enough to change or adjust your plan, if it isn’t going to help you achieve your goal.

3 –  If you could start your business over again, what one thing would you do differently? That’s a tough question because struggles are part of the learning process. If you aren’t making mistakes you aren’t learning anything new. There are some valuable lessons to be learned from the mistakes you make. The one thing I would do over again is to be more disciplined in managing the money side of the business. That old saying “it takes money to make money” is true. But you have to make the money before you spend the money. I would put together a realistic budget and then stick to it. Projections are just that – projections. They are a best guess. However, projections don’t pay the bills or more importantly, they don’t pay you.

Copyright 2016 (c) Brian Smith – Reformed Control Freak. Not to be reproduced without permission. Brian is a former Professor at Algonquin College’s School of Business, Top 100 Leadership Expert, Author and Speaker. To find out more about Brian and what you can do for you and your organization visit https://briansmithpld.com

Delegation 101: Assume Nothing

Coaching, Leadership Development, Management, Mentorship, Personal Development, Self-Help, Teacher • Tags: , , , , , ,

DelegationRule number one when working with others is to assume nothing because it may make an ass out of u and me. But mostly me because I took you at your word, that you understood what needed to be done and how I wanted you to go about doing it. People aren’t born knowing what they need to know. Always keep in mind that if you haven’t taught someone the way you want it done – don’t assume they will know how.

Worth Remembering … In the digital age you need to make knowledge workers out of every employee possible. – Bill Gates 

You may not be able to delegate all the tasks that you do, but you should be able to delegate most of them. I know you can come up with a 1001 excuses why you shouldn’t delegate, but think of it this way. If you don’t delegate some of your tasks you are robbing someone of their opportunity to grow. Do you hire stupid people or do they just get stupid after working for you? Your role as a manager or business leader is to teach others what you know. Your role is not to create followers but to create other leaders. And you can’t do that if you aren’t delegating some of your tasks.

Worth Remembering ... You establish some objectives for them, provide some incentive, and try not to direct the detailed way in which they do their work. – David Packard

Here are 8 easy steps to delegating more effectively:

1 – Decide what you want to delegate: You need to be very clear on what task they are going to do and make sure you give them all the tools they’ll need to be able to perform that task.

2 – Decide who you are going to delegate to: Who is capable, and more importantly, who is willing to take on more responsibility?

3 – Create a “Teachable Moment”: Demonstrate the task – then have them perform the task while you observe – and once you think they can do the task satisfactorily – have them do it one more time for good measure.

4 – Ask questions to ensure that learning has taken place: You need to ask some good open-ended and closed questions to make sure they know what needs to be done. Be sure to give them the opportunity to ask questions too.

5 – Monitor their performance: Follow-up, follow-up, follow-up. Make it a point to check-in on the person shortly after leaving them on their own, just to make sure they are performing the task satisfactorily.

6 – Keep the lines of communication open: Let them know you are there to help – if and when – they want it. Resist the urge to micro-manage.

7 – Hold the person accountable for the results: Standards, like quality, are not open for debate. You must hold people accountable for the results and not accept anything that doesn’t meet your standard. If they think they can get away with less than satisfactory work – then they will.

8 – Praise performance: Recognize what has been accomplished and be quick to offer praise for a job done well.

It’s important that you show trust and confidence in your people. The best way to do that is to get out of their way and let them do it. Results are what’s important, not how they go about doing it. Allow them to put their own personal stamp on it.

Copyright 2016 (c) Brian Smith – Reformed Control Freak. Not to be reproduced without permission. To find out more about Brian and what he can do for you and your organization visit https://briansmithpld.com

Nobody’s Perfect – So Get Over Yourself 1

Leadership Development, Personal Development, Self-Help • Tags: , , , , ,

Sorry if I’m the one to burst your bubble but, nobody is perfect. Not even you. You don’t need to handicap yourself by carrying around that kind of burden. Aim for the bull’s-eye? Absolutely. Strive for perfection? Yes – always – but understand that some times you can’t attain the unattainable. Sometimes you are going to fall short and miss the target. Don’t beat yourself up over it. Learn to accept that. You can take pride in the fact that you did your very best – that you gave it your all. And if you truly gave it your all, than you have no more to give. Learn to accept what is – is – short comings and all. Chances are you’ll live longer and enjoy the simpler things that life has to offer.

Worth Remembering … An environment that calls for perfection is not likely to be easy. But aiming for it is always good progress – Thomas J. Watson Jr.

According to Psychologists people move in the direction that is opposite to the direction they want to avoid. In other words, perfectionists strive for perfection because they don’t feel perfect. Because they somehow feel inferior to other people in certain situations so they try to overcome their perceived short comings. In the long run constantly striving for perfection  can destroy your self-confidence.

Worth Remembering … Perfection is not attainable, but if we chase perfection we can catch excellence – Vince Lombardi

You are good enough. You don’t have to prove it to others. Perfection is highly overrated.  Good enough is good enough. If you did everything you could have to reach your goal, then that has to be good enough. Perfectionists are setting themselves up for failure. It is a self-fulling prophecy. They will always end up feeling disappointed in themselves when they fail to become perfect. Remember – Nobody’s perfect, so get over yourself.

Copyright (c) 2016. Brian Smith – Reformed Control Freak. Not be reproduced without permission. Are you looking for a keynote speaker, organizing a seminar or training session? Give Brian a call. http://briansmithpld.com

If Your Life Sucks It’s Because You Do

Enduring Principles, Personal Development, Personal Values, Planning, Self-Help • Tags: , ,

Loser 1If you aren’t happy doing with you’re doing, then you need to take a good look in the mirror and realize that the only one getting in your way is you. You need to learn to get out of your own way and live the life you intended. Don’t let shoulda, coulda, woulda be part of your vocabulary. What is getting in the way of you realizing your full potential and accomplishing your goals? I want you to take a moment and write them down. You can’t fix what you don’t acknowledge.

You are the steward of your life. You are responsible for your own happiness. No one can make you choose the life you lead. It’s a matter of choice – your choice. It is 100% in your control. You choose to be overweight. You choose to be poor. You choose to be miserable. You choose to blame others for your lot in life. When you get knocked down you choose to stay down.

You have the power within you to make a change. You just need to decide what it is you’d like to change for the better? When you change the habit you change the result. Can you create a new habit to get a different result? Replacing old habits with new ones is not easy but it can be done. Just stop doing one thing and start doing another – and if you do it often enough it will become you. You have the capacity within you to make a change. You can learn to act in a way that is going to get you what you want? You just have to decide when you’ve had enough of your old life. Until you get to that point you won’t be motivated enough to make a change. Motivation is inside out never outside in. If your life sucks, it’s because you do.

Copyright (c) 2016. Brian Smith – Reformed Control Freak. Not to be reproduced without permission.