Build the people…

January 4, 2012 in Entrepreneurship with 7 Comments

You’ve probably heard the saying “Build the people, and the people will build the business” (if you hadn’t hear that before, I’d like to take credit for it :-) ).

I was reflecting today on the people I’ve had a chance to work with in companies I have run. There’s a consistent thread of people-building that took place across every brand. It’s interesting to look back on the collective as well as the individuals and see where they are today. It has been a real a-ha moment for me. I realize now that being an entrepreneur (and building companies) is much more than business models and funding sourced; jobs created and/or retained. Being an entrepreneur is (potentially) about building a legacy of success.

I say “potentially” because for a majority of entrepreneurs, “people building” isn’t even on the radar. Either they don’t feel qualified or flat out don’t care. The reality is, people building doesn’t happen in 80% of businesses. (Yet the C-suite wonders why the company is stagnant in areas like growth, innovation and corporate culture).

The next 15% of companies are engaged in people building, but it’s a human resources effort (not a CEO effort). There’s a BIG, BIG difference between those two efforts. When people building is a human resources effort, it ends up being me-too stuff. Me-too books, seminars, consultants and in-house programs. There’s much more that can be said about this, but that’s a rabbit trail someone else can chase.

In 5% of companies, people building is a CEO-driven initiative. It isn’t a perk or checkmark on the “how to build a great corporate culture” checklist. It is the ethos of the brand. it is who the CEO really is – someone passionate about seeing people become better (and more successful).

You know why only 5% of companies are true people-builders? The answer is counter-intuitive.

If you actually succeed in building people, you’ll eventually lose them. They’ll outgrow you (and your company). That’s the whole point of building people. You’re not building them to make you more money, you’re building them for the purpose of their personal success.

As I reflect on a tech startup I was recruited to run in 1999, I realize now we were all about building people. The two graphic designers we had on staff now run a multi-million dollar a year credit education company they started up while working for us. Our top biz dev guy (and his wife) are now top money earners in a direct sales company (they probably cleared a million dollars in total compensation last year year). A teenager we hired to answer phones and do tech support is now CEO of his father-in-law’s water purification company. The guy we hired and trained to be our media buyer was a law school dropout/ambulance EMT when we met him. Today he is VP of Marketing for one of the top insurance quote websites in the world. The list goes on and on – and it crosses all the companies I’ve had the opportunity to build.

Here’s the point.

If you truly want the best for people, you’ll create an environment of innovation and entrepreneurship in your company. You’ll encourage fresh ideas and breakthrough thought. You’ll give people opportunities to take risks, fail and grow in the process. You’ll hand them the keys to the car and walk back in the house (rather than get in the passenger seat). In the process of authentically doing those things, you’ll build a breakthrough company.

You know what got me thinking and reflecting on this topic?

Just today, our lead engineer got featured in TechCrunch. He took some of his downtime over the holidays and on his own entrepreneurial muscle did something really incredible. He did that because he felt comfortable (and encouraged) to do it. As I look across our current (and growing) staff, I see the same people-building trend emerging – and I’m excited about it.

Build the people – let them be entrepreneurial – and your business will grow as a result.

Entrepreneurial DNA Licensing is open

December 30, 2011 in News and Updates with 0 Comments

If your customer isn’t the entrepreneur, skip this post.

If you (or your organization) target small business in any capacity, getting certified or licensed in Entrepreneurial DNA is going to be a must for you in 2012.

For organizations that provide advisory, consulting, coaching or similar services to startups, small businesses and/or entrepreneurially minded large corps, learn more about licensing Entrepreneurial DNA.

I’ve also gone back into my sales training archives, dug up all the good treasure, infused Entrepreneurial DNA into it and put it together in a 1-day certification program like no other. It’s all about decoding the behavior of entrepreneurs and customizing your marketing and selling process to meet the unique needs and buying style of each DNA. Go through this process and they’ll be backing up UPS trucks in your driveway with the cash from new business.

Before officially releasing the sales program, I need some guinea pigs to test the material on. So if your organization has 20 or more people who can participate in a 1-day learning extravaganza :-) , contact me. Guinea pigs are known to get great deals…

The Power to Re-Invent

December 26, 2011 in CEO features with 0 Comments

I was scrolling through some old videos on my laptop to find this one – and I’m still smiling as I replay the story of this inspiring CEO in my mind.

We shot this video of Seyi Fabode in September of 2010 (wow that feels like a long time ago!). This was his demo video for a documentary we shot later that year. Watch the video and then scroll down for my takeaways…

My Takeaways From Seyi

– Seyi is an inspiring example of the entrepreneur who was given plenty of opportunities to quit – but chose not to. Even though the video above doesn’t tell an ounce of his story, those of us who know him have seen him persist and succeed despite the obstacles.

– When we shot this demo video, Seyi was just another tech startup – big dreams and goals but struggling to find capital. Seyi stayed persistent. He improved his product. He worked on himself. He surrounded himself with the best people and advisors he could find. Fast forward to today and Power2Switch has been the subject of a ton of publicity. In 2011, they were selected to incubate at Excelerate Labs . They’ve raised some much needed capital and are on their way.

– Seyi also didn’t go the journey alone. He had partners. I can’t stress enough the importance and value of having business partners. People you can lean on when times get tough – and also celebrate when the cash register rings. Seyi has great partners – it’s part of his formula for success.

– Seyi leveraged his Entrepreneurial DNA. I remember the look on Seyi’s face the day he read through his Advanced Assessment report to discover his predisposed strengths, weaknesses and modus operandi. He used that information to optimize his team, build strategy and even walk away from some opportunities that appeared lucrative on the surface.

– Seyi was relentless in asking for help. This to me, is a major piece of Seyi’s success. He was never afraid to ask for help. Even though he graduated from one of the top business schools in the country (Chicago Booth), he stayed humble. (Most of his peers think they walk on water and will soon find their businesses at the bottom of the lake). Seyi sought out advisors and help. He applied for help from the Chicagoland Entrepreneurial Center. He did everything they told him to do. He signed up for every pitch opportunity and business plan contest (and won a few along the way). I can’t think of many tech events I attended that he was not present at. The point? Seyi didn’t hide in a dungeon wondering why the phone didn’t ring. He put himself out there – took the risks – and reaped the reward.

I’m sure there were days he didn’t feel like shaking hands, asking for help or applying for another business plan contest. But he did anyway. That’s the essence of entrepreneurship!

The entrepreneur’s perspective on economic uncertainty

December 20, 2011 in Entrepreneurship with 0 Comments

Here’s a segment from my roundtable chat with Craig Wortmann (CEO of Sales Engine and business school professor) and Eric Plantenberg (CEO of Freedom Personal Development).

My takeaways from this session:

- There will always be an excuse NOT to start your business. If you ask, people will be glad to give you all the reasons not to launch. Talk to real entrepreneurs though, and they’ll tell you now is the best time ever!

- Economic uncertainty has a way of weeding out those who are unprepared. If you have the right strategy, the right team and the right advisors, you can weather almost any storm. As I sit here and watch this video, I am reminded that these guys on the video have seen economic uncertainty in their businesses before. From the 2008 crash to the dot com crash and more. What allowed them to survive (and thrive), was the fact that they were prepared. They modified their strategy and executed with confidence.

- The best predictor of the future is one’s attitude today. If you’re feeling like the sky is going to fall, chances are, it will. The saying is so true – “Whether you think you can or whether you think you can’t, either way, you’re right!”

Eric Plantenberg’s company
Craig Wortmann’s company

Chatting with a rockstar CEO

December 17, 2011 in Entrepreneurship with 0 Comments

Here’s a segment from my chat with Eric Plantenberg, CEO of Freedom Personal Development. A company he started up in a closet (literally) and grew to 50,000 clients and millions of dollars a year in revenue.

My key takeaways from this piece:

– Not all entrepreneurs are wired like Eric. He has a unique entrepreneurial DNA that drives his decisions, strategy and modus operandi.

– Even though he inspires me in many ways, I don’t need to try to be him. The biggest mistake entrepreneurs make is to try to copy-cat practices of other entrepreneurs. That, my friends, is the leading cause of frustration and failure in entrepreneurship.

– Entrepreneurship is about the journey, not the destination. Too many of us put everything else aside with the intent to work hard now – and play later. For a majority of business owners, that “play date” never comes. Ten, twenty and thirty years go by and we’re still sweating away at the wheel. Don’t let that happen to you. Do what Eric does (in your own way) and enjoy the ride!

– Some of your biggest critics and naysayers will be those closest to you. So design your plan, commit to it and execute regardless of how nuts people say you are. (The only exception to that rule is when your key advisors tell you you’re nuts!).

You can learn more about Eric and his company here.

The REBEL Alliance is forming…

November 15, 2011 in Entrepreneurship with 1 Comment

We all like to belong don’t we? None of us like to be the odd man out – standing on a soapbox ranting and raving to change the world – only to find oneself on a deserted island with a couple of sea gulls staring intently.

For the last couple of years, I’ve felt that way as I was digging into my study of entrepreneurs and the entrepreneurial eco-system. As my frustration about “the way things work today” grew, so did my desire to start beating a new drum.

But then the fear kicked in…

“What if I’m the only lunatic who feels entrepreneurship is broken in many places?”

“How will the established leaders of the eco-system respond when I start throwing hand grenades at the way things are?”

“Will I be the only guy out there?”

But then, to my absolute pleasure arrived the REBEL Alliance. A group of high-output CEOs, educators and researchers – all with a common mission to give old-school entrepreneurship a much needed “reinstall and reboot”.

It happened quite by accident. It started with Dr. Suresh Kumar (Inc 5000 CEO and educator) and Dr. Norris Krueger (Startup Weekend fanatic and world-renown researcher) sharing some of their thought leadership articles (we call em hand grenades) with each other. Then Tim Conway (entrepreneur and adjunct professor) joined the crew and put it on my radar as well. It wasn’t long before Gary Schoeniger (founder of the breakthrough course in entrepreneurship The Ice House) jumped in. And that was just the beginning.

The informal mission? To create a more fertile ground for entrepreneurship in the US and around the world while ridding the eco-system of mindsets and processes that simply don’t work. There is an old guard in the halls of power who are clinging dearly to archaic approaches to entrepreneurship. For example, the old guard is convinced that classroom teaching/reading books is what builds great entrepreneurs. We’re convinced that a 3-day or 3-month immersion experience does way more to foster entrepreneurship and create jobs.

I certainly found that to be true when I ran my startup incubator from 2005 to 2009. More sophisticated and recognized incubators like Startup Weekend, Excelerate Labs and Techstars further proved that point. Entrepreneurship is all about experiential learning. I was reading one of Dr. Krueger’s recent white papers where he claimed entrepreneurship is a verb.

I couldn’t agree more!

All that to say, it’s nice to belong. I can’t wait to see what the group comes up with for 2012 and how many new REBELs join our force.

There’s plenty of room on this bus…(or spaceship – depending on your level of geekness).

Decoding Steve Jobs’ Entrepreneurial DNA

October 8, 2011 in Entrepreneurship with 0 Comments

Here’s my visit to the FoxNews studio in NYC to talk about Steve Jobs and his Entrepreneurial DNA.

Get your copy of Entrepreneurial DNA

The future of entrepreneurship is bright!

October 3, 2011 in Entrepreneurship, News and Updates with 2 Comments

While most of the world (thanks in great part to the media) worries and frets about the future of our country and world economy, I stay highly optimistic.

Here’s why…

I get to spend most of my working hours around entrepreneurs – the coolest and most energizing people on earth. You can’t help but be energized being around entrepreneurs – especially the next generation version of them.

Enter IMSA (Illinois Math and Science Academy). Past home to founders of companies like YouTube, OkCupid, Netscape and Paypal. It’s a high school that is consistently rated one of the best in the US and top 40 in the world. Needless to say to be that good, you have to be doing some pretty special things.

One of those really cool things at IMSA is the TALENT program. A place where entrepreneurially minded students can meet, learn and collaborate.

IMSA’s TALENT program is the first high school entrepreneurship program where the cornerstones of Entrepreneurial DNA and BOSI are being installed to build teams, design strategy and create business models.

We’re working together to build optimized teams (based on BOSI DNA) of students who will design the next-generation products and companies this semester and pitch those ideas at the end of the process. The results (I can assure you) will be nothing short of outstanding. Carl Heine and Jim Gerry who run the TALENT program at IMSA are two of the most passionate supporters of the entrepreneurial spirit in students – and it shows!

I can’t wait for the day when every high school in America (and around the world) has an authentic entrepreneurship program like IMSA’s TALENT program. Meanwhile, it’s going to be exciting to see what this next generation of entrepreneurs at IMSA have in store for us. I am confident they have game-changing innovation up their sleeves. Innovation that will solve major challenges and save money, time and even lives!

We’re excited to be a part of it and see what impact BOSI has on ensuring these innovations achieve their greatest market potential.

The best is yet to come.

Learn more about IMSA
Learn more about BOSI

Why most SBDCs should not exist…

September 30, 2011 in Entrepreneurship with 1 Comment

I know, I know. I’m about to ruffle a few more feathers but that’s ok with me.

I’ve had the absolute joy of working with a handful of Small Business Development Centers (SBDCs) around the country and a matching nightmare of dealing with a bunch more.

My math shows that two thirds of them are more of a dis-service to entrepreneurs and should therefore not exist.

For example, I dealt with one SBDC in the Chicago area that was more concerned and excitable about the placement of their stupid logo on an event brochure than they ever were about the needs of the entrepreneur.

Translation…

The person running that SBDC was infinitely more worried about following a ridiculous set of bureaucratic rules to protect their J.O.B. than actually serving the entrepreneur’s needs. The words “Oh, we could never do that” played like a recording in their office.

Interestingly enough, it showed in the results. Every practicing entrepreneur (including some super-successful entrepreneur friends of mine) who dealt with those locations, walked away with a bad taste in their mouth.

On the flip side, another SBDC in the Fox Valley area of Chicago is run by a woman who is undoubtedly committed to serve her clients. She gets entrepreneurs because (and here’s an interesting thought) she IS an entrepreneur herself! (Imagine that!).

The same is true of an SBDC I worked with (and continue to work with) tied to a university. They are so fired up about working with entrepreneurs, growing their companies and getting real results – that it shows.

Kudos to them – and I’m happy that our tax dollars go to support centers like that.

However, when it comes time to slash government spending across the board (which I’m hoping will happen soon), I can nominate several SBDCs that are better served OUT of business than IN business.

Ka-thump (that’s me getting off my soapbox for now).

I’m so excited!

August 12, 2011 in News and Updates with 5 Comments

It’s not quite as exciting as having a child, but it’s close…

After years of fun (but painful) research, tons of false starts and failed initiatives, more money invested than I care to reflect on and a few exciting days in between, my blog gets to be bosidna’s first partner site.

What’s a partner site?

Put simply, we took the BOSI Assessment that everyone can’t stop talking about and widget-ized it so it can be available all over cyberspace. Bloggers, social networking sites, chambers of commerce, membership organizations, networking groups, b-2-b service providers and more can have this game-changing tool on their site – absolutely FREE!

This means visitors to our partner’s site can take the BOSI Assessment and get their results without ever leaving our partner’s site! I think that is pretty darn cool (and fairly disruptive to assessment-world at large).

So give it a try (if you haven’t already taken the Assessment). If you have, the system will tell you so. Wanna be a partner site, just say so!

Take the BOSI Assessment

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