Tag Archives: business

Open for conversation

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My old, Pair-a-Dimes for Your Thoughts, blog has some amazing comments on it. There were posts that would get 15-25 comments that would continue the conversation. There were bloggers who would blog response posts to yet further the conversation. Now my blog is just one of several places people see my posts.

I usually share the whole post (unless I hit the size limit) on LinkedIn, and I share excerpts on Facebook, as well as links on other socials, and these open the links in their apps, to keep you on the app. And so the majority of comments now are scattered across the internet rather than sitting under my blog.

What I miss about the ‘old times’ is that these comments and conversations added a lot of value to what was said. They still do, but they aren’t archived together and so they tend to be one-offs rather than full conversations. Still, I enjoy getting them, and love it when someone contributes something that really adds to what I say… contributes something of value, that enriches (or challenges) my thinking.

Manual Are posted a gem of a response to my post yesterday. I wrote a very short post, a rant really, about doors being locked when a store is open. Then on LinkedIn, Manuel responded with a beautiful poem that first of all probably took him a lot longer to write than I spent on my post. And secondly, captured my message better than I was able to express it. So here it is… (with permission and thanks to Manuel):

The Locked Door

I reached the store with eager stride,
A gentle pull, but locked inside.
The sign said “open,” yet it stayed,
This door that blocked the path I made.

I tried again, a second time,
But still the latch refused to climb.
A simple thing, an easy task—
To open wide is all I ask.

Doesn’t it speak to what’s in store,
This stubborn, unwelcoming door?
The message sent, though small it seems,
Can shatter trust and spoil dreams.

For what’s a shop that keeps me out?
It stirs up doubt, it breeds some doubt.
If I am here, then let me through,
And show me care in what you do.

Unlock the door, let me inside,
A gesture small, but full of pride.
For in that act, you say to me:
You’re welcome here, come in and see.

The smallest thing can set the tone—
To feel at ease, to feel at home.
So if you open, heed this plea,
Unlock the door, and welcome me.”

~Manuel Are

Unlocked when open

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How do you feel when you are walking into a store, a mall, or a restaurant, you reach for the door and give it a good pull only to discover that it is locked? Have you ever tried the same door on the way out, only to have it reject your efforts a second time?

This is a pet peeve of mine. If your business is open, and you have two doors, unlock them both! Let my first experience with you be pulling on an open door. Let me feel welcome. This is such a low bar of expectation, and yet it isn’t met time and again.

If your business is open, unlock both of your doors… please!

Optimize not Maximize

Maximize your profits, grow your busy, success is just around the corner, and when you get around that corner greater success is just around the next corner. There is always more to get, more to gain, more to achieve.

But at what cost?

What is your time worth? What happens when you grow too big to feel like a community? Where does the next dollar come from: cheaper parts, lower cost labour, a drop in quality at greater than maximum production?

And again, what about your time? How many hours do you put in? How many hours when you are not working is your brain still focused on your ‘to do’ list, or on your work in general?

Getting bigger isn’t always getting better. Sometimes it’s smarter to optimize than to grow. Sometimes your current customers are more import than your next customers. Sometimes your time with family and friends should be the most important thing you focus on.

But these two things are not mutually exclusive. Optimization can help build your business, profits, and even a positive working environment… and improve your time management. A model of optimization helps you achieve more with less, and allows you to improve in more areas besides a focus only on getting bigger.

—-

What is the good life?

Profit and greed

Watching the price of gas top $2.30 a litre and knowing that big oil companies are making billions in profit is maddening. Never waste a good crisis. Now don’t get me wrong, there is nothing wrong with a company taking profits, but I really wonder where the world is headed when company shareholders care more about increasing profit than anything else.

I think too many people confuse democracy and capitalism. They think a free world should include unfettered opportunities for business and profit. But a model where corporate value is tied to how much returns shareholders can get for their investment is not designed to make the world better or more free. It’s designed to put more wealth into the hands of the rich, who can afford to buy stocks and shares in companies.

Greed is the underlying driver of such a system. Not democracy, not freedom, greed.

‘This approach isn’t as good for the environment, but it is more profitable.’

‘We could pay our employees a better living wage, but that would hurt our profits.’

‘If we lay people off and increase efficiency, we can meet our targets and get our bonuses.’

There are stories like this one, where a boss decided that every employee will get at least 70k a year, and the company is still thriving 5 years later. And there is a local company run by Paul Macdonald that donates 50% of corporate profits to charity.

But these stories are anomalies. They shouldn’t be. There shouldn’t be a reason that the world we live in is driven by profit and greed. I hope to see more people doing what these guys are doing. They are earning a good living, and making the world around them better. That shouldn’t be a novel idea, it should be what drives us.

Level 5 Leader

One of the big takeaways from Jim Collins book Good to Great: Why Some Companies Make the Leap and Others Don’t is the idea of a Level 5 Leader. The biggest feature of this leader is that they strive to develop those around them, and they want nothing more than to have the company do better after they leave than when they led. This is a noble and truly desirable thing to want. It’s not always what we see though. Lee Iacocca left a vacuum of leadership behind him. Donald Trump wants to be known as the greatest, and today emphasized wishing Joe Biden ‘Luck’, because in his eyes only luck could explain any future success.

It’s sad to see leaders who care more about themselves and their image than the successful path they leave behind. These are not people you want to be led by, or even associate with. They poison the environment rather than nurture it.

Mentors that I’ve had have always looked to not just help me, but let me stand on their shoulders. They have desired to see my success. When this is authentic, it is inspiring. This is behaviour we want to see emulated in the world.

It’s interesting that when a leader’s intentions are not in servicing those they lead, it shows, even when they are doing or trying to do something good. I’m not talking about just making good versus bad decisions, every leader does that at some point… I’m talking about intentions and motives not being right. I’m talking about making selfish decisions, or choosing notoriety over shared success. These are not actions of a Level 5 Leader.

I don’t understand the draw of loud, bragging leaders, but many seem to find their way to the top. The challenge is that while they may make it to the top of a good company or organization, they are not the leaders that will make the company or organization great.

Five to Eight Percent

When I think about the modern company with shareholders, I can’t help but think that this system is designed to undermine ethical and environmental progress. There are companies laying off workers right now while providing shareholders huge dividends and returns. The system is flawed. These returns help drive the company stock price up at the expense of ethically growing the company… instead of helping workers keep their job and keep their wages fair in comparison to what shareholders get

What if companies promised shareholders a maximum of a 5%-8% return? Any company profits beyond that are invested back into the company, towards employees, and/or towards environmental or community initiatives. If this were the case, companies would still have the same commitment to meet shareholders targets, but those targets wouldn’t be based on greed. Instead they would be focussed on doing the most good.

I’m not an economist and don’t know all the ins and outs of how this would work? I don’t know what the magic return percentage should be? But I do know that the current model is based on greed and unsustainable growth. If companies capped shareholder returns at a safe investment amount, and promised to do good with what would have been more returns, I think there would still be a market for the stocks… And these companies could help make the world a better place.

The death of the business card

I recently updated my business card and I ended up recycling a few hundred of the old, out-dated ones. This isn’t the first time my responsibilities or title has changed prompting me to do this, but maybe it’s the last? In a post COVID-19 world are we going to routinely take a small card out of our wallets and hand it to someone else? Are we going to sanitize our hands first? Or are we going to send a digital version via our phones, instantly and without making physical contact of a common object?

Frankly, I think it’s about time! When I get a card, I usually take a photo with it in Evernote and then either hand the card back or put the card in a small business card holder on my desk, seldom ever to be looked at again. One thing I’ve hated about the Evernote process is that when I first started using this feature (I think it’s only on the paid version), the card reader would pick up all the different parts like name, company name, title, and phone numbers, and put them in the right category, and then ask me if I wanted to connect with them on LinkedIn. But now people are so creative with their card design, I find Evernote often has trouble picking up the different categories and something as simple as the company name is wrong, or missing or miss-categorized, because the company name is embedded in a logo or uses a different font for the first letter, or is placed in an unusual place compared to the rest of the information, etc.

What we need are simple contact cards that we can digitally ‘bump’ to each other. One nice feature of this would be that the card could have several versions, appropriate for the person you are sharing it with. For example, I run two schools and sometimes it’s nice to have a simple card with just one of the schools on there. Also, my card has my cell phone on it, but I’d rather a vendor call my office line, and leave a message with secretaries, rather than interrupt me with a vibrating phone when I’m with staff or students.

Having a business card digitally sent and entered directly into our contacts makes sense. It shouldn’t need to done by a proprietary company that requires everyone to have the same app to do, it should be a feature of our phones. It should be sent via Bluetooth or via a tool like airdrop, except not limited to Apple devices. It would need to be initiated with a request, rather than just open for anyone to take/steal your information.

For example, I click an invite and it says, ‘David Truss is asking for your business card’, the other person sees this, picks a card to share and sends it. Upon receipt, I see something like ‘Peter Parker shared his contact information with you. Share back?’ The tool could also ask if you want to connect on different social media sites that were shared, like Twitter and LinkedIn, and even scrape a profile photo from one of these as your contact image. It could also set a reminder to contact the person, or ask for additional details or tags/categories to help you remember the person.

Some people will be sad to see the card stock business card go away, but I’m looking forward to having the information shared digitally, on the tool that I’ll actually use to contact the person. We don’t need the waste of hundreds of our-dated cards being recycled or put in landfills, when a digital card is superior and provides far more choice than a static card that is seldom kept or looked at again.