Kevin W. McCarthy

Professor of On-Purpose

Business

Have You Thanked a Business Owner Lately?

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The small business owner (aka solo owner, solopreneur, SOHO, or solo) is the unsung hero of modern society. Their pursuit of a dream is epic, daring, and brave. Small businesses dot the business landscape, and in the years to come more people will turn to starting a business for additional income or to replace a lost job or create one. Profit making is alive and we all benefit from the efforts of solopreneurs.

What does it mean to be in business? Being in business is a high and noble calling!

I love what the opportunity to start and run a business brings in terms of

  • creativity
  • production
  • value-adding
  • improved standards of living
  • funding of worthy causes

People who start businesses have my respect. Regardless of whether they’re starting a home-based business, a family business, or a high-growth/high-potential venture, they’re pursuing a dream with boldness.

Small business people are heroes. Every business starts as a small business. Business owners are to the Knowledge Age what the farmers were at the turn of the 20th Century: men and women who are willing to lay the mantle of responsibility on their shoulders and pull the greater load in hopes of a greater gain.

Business owners risk much in hopes of gaining much and giving more.

Certainly, profits and a better lifestyle are part of the anticipated gain. But there’s more. The measured ability to create and control one’s life, schedule, and vocational pursuits is the height of healthy individualism.

Truth be told, if you want to mature and grow into a better person—start a business! Government doesn’t build businesses, people do.

Find a need and fill it! That is the mantra of the business owner.

Like ants scouring a picnic ground for food, entrepreneurs search the marketplace for a business opportunity or find gaps of need in the market through inventive initiative. All types of businesses are launched—service, retail, professional, manufacturing, industrial, and, the hot item today, an internet-based business. Opportunity abounds!

Business owners do more than employ people.

Business owners create jobs when they manage their businesses prudently. Most of the business owners I know are generous with those in their charge.

For many, employment is simply another form of ministry.

I’m not talking charity here. No, we’re talking about

  • mentoring and development of others
  • providing opportunities
  • raising up leaders
  • entrusting managers
  • training the unskilled

Business owners see, find, and act on the good in others because it is simply good for business and, even better, for life.

Who’s typically volunteering? Look around and notice.

You’ll find small business owners serving on boards, volunteering for coaching, taking their lunch hours to serve the poor, being active in a church, driving Meals on Wheels, and more. These are the backbone of society. They’ve chosen a different path from their corporate counterparts who must manage vacation days, punch a clock, or otherwise account for their time to their employers in terms of ROI, not altruism.

So do this: Thank a business owner today for improving your community and life.

As you prepare to purchase gifts or engage services, make the special effort to support a local small business person. Investing your hard earned cash into a sale in their business recycles into your community in ways you may never fully grasp. Be thankful for them, for you know not their struggles and thhe hardships it takes to keep the doors open to be there for you when you need them.

———CLARITY_FOR_SOLOS_by_Adam_Dudley

Recommended Resource: CLARITY FOR SOLOS

My colleague and Winter Park neighbor, Adam Dudley, has written a book. I had a few sneak peeks along the way in the writing process and I really liked what I read. While our writing styles and perspectives are different, we share a heart for the plight of the solo owner.

Adam, a huge advocate of yoga, brings a rather chill, yet focused perspective to the realities of being a solo. He gets himself out of the way to care for your needs. Adam is a thoughtful coach who listens well, processes in your best interest, and then offers wise counsel. Below his peaceful nature, the wheels are spinning as he’s thinking about what you need to succeed.

CLARITY FOR SOLOS offers great advice for solo and small business owners who are confused, stuck, or unsure about what to do next. It’s available on Amazon.com. Click the image to preview it.

Do You Feel Like a Failure?

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Do you feel like a failure? How are you choosing to frame “failure”?

Unemployment, slow business, foreclosures, and underemployment are just some of the struggles pressing into the hearts and minds of many today. As debt stares you in the face and the opportunities apparently diminish, the personal repercussions can cause us to lose hope and begin to see our lives as failing.

This situational depression can weigh on one’s spirit to the point of discouragement and negativity if we paint ourselves as failures.

What if your perspective, not your current circumstance, is the problem?

Today’s On-Purpose Minute invites us to stop looking outward and begin looking inward and upward for a fresh approach that holds the key to grasping the present situation and life beyond.

Thomas Alva Edison, the great inventor, saw “failure” as information. (See the video clip “I Haven’t Failed” by my actor friend, Frank Attwood, who portrays Edison.) How many times have you tried and “failed” only to discover you were one step closer to success?

Gene Kranz, NASA Flight Director, in the movie Apollo 13 is attributed with saying “Failure is not an option,” in the face of saving the crew in space. When failure isn’t an option, then what are the options?

  • Learning
  • Growth
  • Preparation
  • Creativity
  • Exploration
  • Work-arounds

Fresh and exciting options must open up!

When we play scared, we play not to win.

The best we can do is hold steady or lose ground. A shaky self-defeating cycle is set up that once it is in motion can gain momentum and overwhelm us.

Learning to play with reasoned abandon may sound like an oxymoron, but it isn’t. It means that we’re disconnected specifically to the end result, but we’re highly focused on the matters at hand. This frees us to play for the sheer joy and moment, yet aware that what we’re doing in the moment matters. Athletes call it being in “the zone.” It is preparation and hard work intersecting with opportunity.

Truthfully, you’re apt “to choke” the first few encounters, but in time you’ll grow through the experience and be on the way to success. That’s how failures become successes.

What Is Trust? Can I TRUST You?

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What is trust?

TRUST = Truth, Respect, Understanding, Sincerity, Time

Can I TRUST you? is a question living at the heart of every relationship.

Trust is a precious and valuable state of being.

Trust in business and in sales is an essential and valuable character quality that pays dividends.

Squander your trust and you ruin your business. Build trust and you grow your business.

Standard poodle apricot Hamlet
What is trust? Hamlet (above) isn’t your shining example of being trustworthy. Because of trust issues, it costs him freedom and fun.

By way of a negative example, meet our dog, Hamlet (shown a few years ago before he died). Here was a great family dog—but a shining example of the cost of lost trust. His intelligence regularly surprised us. His one great flaw, however, was being off leash.

Within the home and fenced backyard, Hamlet would come when called (about half the time). Off the leash, however, at the dog park or when he escaped, Hamlet was a standard poodle gone wild. He would wander for hours, generally, circling the house in large walkabouts through the neighborhood.

Disobedience has a price.

He rarely got to go to the dog park to play with other dogs. When it was time to leave, he wouldn’t. He was too fast to catch and too smart to be caught. He would seemingly taunt us to catch him by coming within feet of our reach only to dash away. As a result of this distrust, Hamlet lost out on all sorts of privileges and benefits that a more trustworthy pooch would earn.

Hopefully, today’s On-Purpose Business Minute gives you “paws” for thought on what lack of trust could be costing you in terms of sales, customer relationships, employee turnover, and other challenges potentially undermining your business profits.

Are your relationships, options, and opportunities limited because of trust issues?

———

I’m a member of Trust Across America, a membership-based organization making the strong case for trust and integrity as business imperatives. Check out the website and join me.

Is Fear Avoidable?

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My research with over 850 small business owners reveals that 32% of the respondents say fear is their greatest obstacle to success.

So what is it with fear?

Can we avoid fear? How do we overcome fear? Is fear really, as the old acronym goes, False Evidence Appearing Real?

In this On-Purpose Business Minute, let’s address the question Is Fear Avoidable? After watching the video, read The 7 Most Common Fears Business Owners Face and what to do to conquer them.

The 7 Most Common Fears Business Owners Face

  1. Fear of rejection
  2. Fear of success
  3. Fear of failure
  4. Fear of exposure for who I really am
  5. Fear of looking stupid or incompetent
  6. Fear of what they will think of me
  7. Fear of making money and exploitation

Overcome your fears using the “For PETE’s Sake” Approach described in The On-Purpose Business Minute:

  • Perception
  • Emotion
  • TrainingFIT 4 LEADING
  • Experience

Many fears are unnatural but very real to us.

Generally, for every fear you have, someone probably makes a living from it. So what is it they have that you don’t? Oh, For PETE’s Sake, they don’t have a thing on you. They simply have an abundance of improved Perception, Emotion, Training, and Experience. Your fear is their joy! How remarkable is that?

Dig into this topic more by reading FIT 4 Leading. This is the least known of my books and part of the On-Purpose Leadership Series. At only $10 plus shipping this small but powerful book provides you with strategies to be a better leader of your life for the rest of your life. Use the link to the book to find a free, introductory webcast at our shopping cart or visit the website.

 

Do You Know Your Target Audience?

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Are your sales not where you would like them to be?

With many new clients, I often find that the failure to aim narrowly at a specific target audience is

  • confusing clients
  • extending the sales process
  • demanding on salespersons
  • losing them business

Is your marketing strategy and plan truly promoting your goods and services to the right people?

Time and again when interviewing business owners, salespersons, and marketers, I find their marketing message falls short because of confusion over a target market versus a target audience. This simple strategic marketing mistake costs dearly as the customer is left confused with messages that speak at them instead of to them. Confused customers are less inclined to buy.

Conducting a target audience analysis identifies specific needs, wants, hopes, and aspirations.

When you speak the customer’s language it offers assurance that you understand them and know how to solve their problem. Their comfort that you can identify their specific problem draws them to a conclusion that you are more appropriate and capable of caring for them.

When you’re perceived to be a less risky purchase, then the value proposition tilts in your favor. More sales can follow.

Communicating in generalities leaves customers guessing.

Here are two examples of ads from home heating and air conditioning companies in a local paper.

Ad #1 reads: “We’re the number one HVAC specialists. Call us for all your needs.”

Ad #2 reads: “Has your home air conditioning system just stopped? Call and be cool soon.”

Advertiser #2 has invested a bit more time that speaks to the specific needs of his target audience. It may appear a more expensive and narrow strategy, but the real test is not the number of calls, but the number of qualified calls. What do you think, will #2 beat #1?

Follow this simple On-Purpose Business Person rule of thumb:Market in your self interest.

Now that you’re thinking about the concept, who’s your target market and target audience? Want to talk it out? We’re here to help you.

How Are Your Marketing Strategy and Plans?

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Tactical terror is on the face of many a business person these days thanks to the fundamental shift in marketing due to the internet, especially as it relates to social media. Despite all the change, the core of marketing remains much the same as it has for the past 50 years. 

In today’s On-Purpose® Business Minute, may I introduce you to the importance of purpose in your marketing strategy and plans?

Purpose brings the power, spirit, or juice to the business model and marketing plan that engages employees, customers, and shareholders alike, yet each differently.

Before you design that new website or write that new brochure or ad, please give the fundamentals of great marketing the investment of your time and energy on the front end. It will save you a ton of time and money on the back end.

Having the fundamentals of marketing in place provides a higher probability that your goals will be met or exceeded.

  • Regardless of your company size, do you feel overwhelmed, confused, or frustrated with your present marketing strategy and plans?
  • Are you facing the tactical terror of chasing your tail and not getting the results you want?

Please place On-Purpose Partners  CMO Services on your mind to help you order, focus, build, and expand your business so it can go to the next level of performance. If you need help, please drop me an email at kwmccarthy@on-purpose.com.

As promised, here is a link to the Marketing Mix concept by Jerome McCarthy, the author of Basic Marketing (and who is not related to me).

How Solid Is Your Leadership?

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The self-awareness and inner strength of the leader get transmitted throughout the team, division, or business.

It is hard to see ourselves for how we really are.

  • Some of us are hard on ourselves.
  • Others of us overestimate the strength of our leadership.

There’s one defining benchmark that will clarify how solid your leadership is.

I address it in this On-Purpose Business Minute.

Have you ever been led by a solid core leader? Count your blessings!

Can I Profit AND Gain My Soul?

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The 3 Tips for Profiting The World AND Gaining Your Soul

  1. Guard your heart
  2. Focus on the soul of people
  3. Be about excellence on-purpose

In the book of Mark (8:36–37) it reads, “For what shall it profit a man, if he shall gain the whole world, and lose his own soul? Or what shall a man give in exchange for his soul?“*

Here is a sharp warning about allowing the pursuit of such fleeting things as money, advantage, pleasures, and fame to so cloud our being that we yield our character, personal leadership, respect, dignity, and relationships. We are wise to take heed because worldly temptations are alluring, but they may not be profitable.

Alarmingly, in that last phrase in Mark, there is an oblique reference to an inevitable transaction—you will have to exchange something for your soul. What will that be?

Does this mean that profiting and soul-losing are inextricably one?

I say, “No!” We can have both. We’re designed for it. In fact, to gain our soul and profit the world is the truest standard of living. Proof: how many times have you said you want to make a difference or make a contribution in your life or your livelihood?

How many times have you felt conflicted between balancing your life and your work? (Remember that life-work balance is a myth.) Purpose integrates your life and work into a meaningful whole.

So here’s the crux of the matter—you must choose which master you will serve first and foremost.

  • What is the exchange you’re willing to make for your soul?
  • Will you first serve mankind or make a profit?

There’s a reason that your personal 2-word purpose statement has a generic beginning of, “I exist to serve by …” That’s a big hint in terms of my recommendation.

After watching this On-Purpose Business Minute, please share your thoughts in the comments section below.

  • What’s your take on the matter of gaining your soul and profiting the world?
  • Do you have an example of someone who is doing both with excellence?
  • Where is your greatest struggle with integrating what seem like two opposing masters?

* The Message is a modern translation that uses more common language to bring forth powerful principles and insights found in scripture. Here are the same verses from The Message:

“What good would it do to get everything you want and lose you, the real you? What could you ever trade your soul for?”