Business

Will You Be a Boom or Bust?

August 16, 2018 By kwmccarthy

The following text of this On-Purpose Business Minute is dedicated to Baby Boomers, but the video is applicable to anyone in, entering, or exiting the workforce.

Think of a Baby Boomer you know—he or she may be your parents or you.

Three big trends are converging to create an economic swirl of circumstances that will define their next twenty to thirty years.

Baby Boomers are now hitting retirement age in record numbers.
The world economy is unstable and so are many retirement and pension plans.
Baby Boomers are retiring from jobs, but not from life, or the desire (need!) to keep earning.

Many Boomers will find themselves with

an empty nest
plenty of time on their hands
a desire to make a difference
a smaller retirement nest egg or pension than anticipated

Rather than heading for assisted living, they’ll be doing a “working retirement”—some by choice and others by necessity.

So what’s your plan for retirement?

Many of your friends may be saying, “I want to retire to Florida or Arizona to play golf, eat out, see movies, read books, relax, and visit my grandchildren.” Some of you may be thinking, “I’m interested in beginning my own business.” I hope so!

Perry James is a character appearing in both The On-Purpose Person and The On-Purpose Business Person. He’s a retired gentleman who provides mentoring and consulting services to a variety of small- and medium-sized business owners.

Perry is based on a dear friend and mentor of mine—Perry Nies, an MIT graduate with a Harvard Business School MBA, and retired business executive and owner. When I was in my early thirties Perry engineered me through some true business challenges. To this day we remain friends and are connected through church. At over 90 years of age Perry is an engaged and vital contributor who still consults and is involved in ministries. He’s also a role model for many Boomers of how to have an On-Purpose retirement.

The Baby Boom began in 1945. Today, the wave of Baby Boomers is being presented with a remarkable opportunity to dream and plan their “retirement.” Many will become “retired professionally” but seek to keep an active hand and mind in the affairs of business and life. I know for a fact that the Millennial and Gen X Generations need their wisdom, experience, and skills. I’m at the tail end of the Baby Boom and I value their counsel.

What if the most on-purpose years of your career are just around the corner … and you never make the turn because you hadn’t planned on it?

This blog post is simply my way of putting the challenge before the retiring Baby Boomers—keep Booming (and blooming).

Plan new businesses
Outline books you’ve always wanted to write
Offer your talent
Be a mentor
Stay connected
Think ahead
Develop your business plan now not later

Once they’re out of the flow of activity, most never return because they’ve fallen behind and the effort to get back up to speed is overwhelming.

Avoid getting caught short at retirement without a life and work plan. Without one, you’re likely to become a Baby Buster instead of a Baby Boomer.

To Do: Begin writing what your future could be. Download the Discovery Guide to help you get started.

Analysis of vintage cars representing economic outcomes.

How Good Are Your Questions?

August 14, 2018 By kwmccarthy

Is the mark of a leader his or her ability to give solid answers or to ask great questions?

In this On-Purpose Minute, ask yourself if you are interested in exploring some of the benefits of being one who listens when others are talking. There’s much gain from planned silence and saying nothing.

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Barbara Zerfoss is a personal and professional friend. I highly recommend her wisdom and insights found in The Power of Nothing. Click the book cover to order. Kevin

Along the lines of having an open mind, my good friend and business colleague Barbara Zerfoss wrote a Simple Truths book called The Power of Nothing.

The book starts with a simple, yet powerful premise … we can start anything in life or business with a blank slate. Too often we bring along a matched set of psychological and relational baggage and preconceived notions that get in the way of true progress and doing what’s right.

The back cover says “Whatever your background, you can choose to create the future you desire from a blank sheet of paper. The past doesn’t exist, and the future hasn’t happened yet.”

So what are you waiting for? Nothing to it … just buy your book today!

Salesperson Turnover? Why it matters.

August 9, 2018 By kwmccarthy

Salesperson turnover is a consistent problem in businesses small and large.

Being a salesperson is a tough profession. It is typically hard work requiring a variety of skills that can often be contradictory within one person. For example, one needs to be persuasive and a leader, yet also a good listener and a servant. The On-Purpose Approach reconciles many of these qualities by placing purpose first and foremost.

Today’s On-Purpose^® Business Minute explores 3 important elements to set up salespeople (and solo owners) for success and avoiding salesperson turnover.

Culture of belief
Marketing
Sales training

After decades of advising thousands of business owners, the patterns of poverty jump at me. If you are a business owner, sales manager, or a salesperson, then pay close attention to this message. Benchmark yourself against my comments and see how well your selling system operates to support your field. Perhaps there’s a reason why you can’t find and keep good salespeople!

If you are a Solo Owner, then benchmark yourself against these three measures.

Being the salesperson and the production person presents a unique challenge. Far too often I see small business owners veering into the realm of thinking, Yeah, I think I can do that.

Instead of staying with what one does best and finding clients who truly value your services and where you are expert, we drop down the learning curve and grab work for the money instead of realizing we’re losing profitability and diluting our brand by confusing our target audience. It is a dangerous cycle of being money-driven instead of being on-purpose.

Be On-Purpose!

Kevin

Want to learn more?

Purchase your copy of The On-Purpose Business Person. Click on the book cover to order.

Is More Money Your Answer?

August 2, 2018 By kwmccarthy

Ask most business people what they need and the likely answer is “more money!” That’s like asking a football coach what he needs: “More points to win the games.” The real issue is What does it take to produce the points or the money?

Money (or points) is a self-deceiving answer or an easy target to articulate.

While Stephen Covey’s Habit #2 is “Begin with the end in mind,” it is as promoted just a beginning to the end. When we only have the “end in mind,” shortcuts are probably even ethical compromises.

The “Management by Objectives” movement has suffered many of these challenges. While never the intention of its creators, it became a rationale for sloppy management and the abdication of leadership and strategy.

Having worked as and with business owners for five decades (I started very early), I can tell you that money may be the obvious answer, but it is rarely the right answer.

Money is a specific commodity with well-defined functions, mostly as a measure.

Oddly, the lack of money in business may be more valuable than the money itself. It forces us to get real, to be creative, and to assess what’s working and what isn’t working. In the end, we’re apt to become better prepared and more capable of adding higher value and better services at a lower cost. Ergo, we make more money.

Being in business provokes us and pushes our buttons emotionally.

I’m not saying go out there and look to take stupid hits. On the contrary—avoid them, but some number of hits are inevitable. Rather than letting them take you down, let them build you up by learning, growing, and maturing.

In this On-Purpose Business Minute, I’m sharing with you the three most common attributes that attract money to businesses: law, order, and opportunity. If you’re a business owner or entrepreneur, this is a must see Minute.

Need some help with your business? On-Purpose Business Advisors has worked with start-ups and entrepreneurs to Fortune 100 CEOs. Email me to learn more.

Resource

Invest 9 minutes to learn about The On-Purpose Business Plan. This maps out the essential infrastructure to create sustainable growth and profitability.

Do You Have Killer Goals?

July 26, 2018 By kwmccarthy

“You need to set goals.” In business and in life we’ve all heard those words. It is hard to argue with the advice. It seems so simple. Yet for all the talk of goal setting, how effective is it really?

Setting goals is an important aspect of the strategic planning process.

But it is part of a process, not the ends and means unto itself.

Several years ago the CEO of a multi-billion dollar publicly traded company hired me to help revive the business. As he said to me, “Kevin, we need a crusade. Something we can believe in that’s bigger than our day-to-day.”

During my on-site time at the company headquarters, I met with the Director of Worldwide Strategy. In gathering initial information, I asked this question: “What are your income and profit goals for this year?”

That’s normally not a challenging question. Except here I was met with the answer, “We don’t have any goals like that.” This was a stunning revelation to me. How could they not have goals?

I promise you that the point of this On-Purpose Business Minute is an endorsement for setting reasonable goals but within the context of a strategic planning process. In my client’s case, it had me wondering just what the heck the Director of Worldwide Strategy was doing. He wasn’t happy to see me show up in the first place and now this question ensured a sabotage was in the works. He won!

Setting goals in a new fiscal year is commonplace in most work settings.

It is the natural time of the year for reflection and planning so the new year can be better than the previous year. There’s a reason why, however, all those good intentions often fail to live up to expectations. Business can’t be run by numbers alone. Metrics have a role, but they’re the result of a strategic process, not the lead.

This form of “Management By Objectives” was made popular in the 1970s. However well intended it was, the execution of it fell to a minimalist “numbers only” approach. Unfortunately, that is an indication of under-performing management.

Goal setting — everyone uses it, right?

You know the routine. You show up at an organizational retreat for work, church, the PTA, a ministry, or some other group. After the introductions, the person with the agenda says it is time to set goals.

Suddenly a knot appears in your stomach. Something about this doesn’t feel just right. You go with it because goal setting seems so right … and yet so wrong. After an hour or so, the team comes up with a list of goals and everyone goes home satisfied that a great deal was accomplished. And it has, but you have this gnawing feeling that very little is really going to happen next.

Why, you wonder, is it so unsatisfactory? Why is the group so excited, yet you’re so worried? You understand that goals without a plan are merely imaginary—but still better than no goals at all! Regardless of whether the organization is falling short or falling flat on its face, it is failing to complete the strategic process. That means that someone in charge doesn’t really know what it means to lead an organization. Uh-oh—Killer Goals of the worst kind.

There are Good Killer Goals!

Here’s an example from when we were in active production of The On-Purpose Minutes. Our killer goal was to produce and post an original On-Purpose Minute every Tuesday and an On-Purpose Business Minute every Thursday.

Sounds easy enough, right?

Hold on for an On-Purpose Minute! Consider the creative thinking, planning, equipping, and many disciplines needed to meet this simple “killer goal.” I invested nearly a year in researching, experimenting, and learning what camera, lighting, and editing software to use. In the end, the technical and production stuff is actually the easy part.

The concepts and brand of the On-Purpose Minutes had to be conceived, developed, and tied to the business strategy of On-Purpose^®. An audience to reach had to be in mind. Finally, the content for each On-Purpose Minute had to be conceived, written, recorded, edited, posted, and embedded using YouTube.com and my blogging service.

Here’s one example where a Killer Goal with a clear purpose, plan, people, and process to support performance produced a video library of over 200 Minutes.

Avoid setting Killer Goals that kill the team.

Take your leadership and management duties seriously so your team can thrive and exceed its goals. Learn to think more deeply about the breadth and depth of the assignment.

The more you can talk about and plan early on, the better things will go for all involved.

Learn that the slow path to achieving your goals is almost always the sustainable and more profitable fast track for reaching your Killer Goals.

Be On-Purpose!

Kevin

Just Because We Can, Do We?

July 19, 2018 By kwmccarthy

Spread way too thin?

Does your “To Do List” look more like an “It’ll Never Get Done List”?

Welcome to my world where I have

more ideas than time
more projects than production capacity
a willing work ethic that admittedly tends toward workaholism

Who in your life is asking you this question: “Just because we can, do we?”

As a business advisor who develops deep strategy and designs businesses, I’ve seen far too many entrepreneurs and business owners confuse their capacity to perform as their reason to perform.

“We can do that!”

Having the ability to do something isn’t necessarily a sound reason for actually taking it on. I’ve been learning to be far more judicious about what I do. I also keep an “Ideas” file. Placing my scribbles and thinking into notes and notecards tends to discharge the energy or the immediacy and provides a cooling off period where perspective can be gained and better judgments made about what matters most.

Admittedly this is easier to write about than to live into.

The phone rang from a new business advisory client. I took the call. The business was in a revenue freefall.

Sales had dropped from $220 million to $70 million.
The business fundamentals had changed.
The unexpected death of the co-founders created chaos and confusion.

The young new family ownership was unprepared to lead or manage a business of this scale. Something had to change—fast!

The business had many functional strengths in operations, finance, facilities, brand, and such. Tremendous business capacity resided with relatively very sound infrastructure. They could do business, but could they remain in business?

Business is an inside-out reality.

What’s happening within the business is reflected outside the business. Customer engagement is important; however, it is leadership and management who create the means for that engagement to shrivel or thrive.

Marketing, in this case, had never been strategic. The deceased owner had a knack for it. Today, no one was at the helm with a feel for the business. In short, the company was in the midst of a very costly identity crisis that affected the internal culture and marketing. The customer experience suffered and very predictably, sales plummeted.

Working with the new owners and the hired president, we crafted a heartfelt purpose, vision, missions, and values. Then we partnered to develop a business plan. It rippled into a renewed marketing plan, sales plan, sales tools, sales training program, and field train-the-trainer program.

Let’s just say, probably a million dollars was invested in the entire project by the time we were ready to launch.

The relaunch date of the company was set. Company-wide months of thought, effort, and resources had been poured into this push to reinvigorate the business. A special convention was called to unveil the months of planning and preparations.

The week before the big relaunch, the company president attended a technology conference extolling the opportunities to be found in that industry, an unrelated business. The president, however, figured, “We have a loyal customer base and the capacity to attempt this. They’ll follow us.” This was true, but not wise.

Over my and his managers’ vigorous objections, he hurriedly hijacked the conference agenda, threw together a presentation of his vision, and launched a business concept (no support in place, mind you, to execute) to his 500-person sales force flown in and housed at the company’s expense.

Need I say more! The sales force wasn’t just confused, they were red-hot angry. It was as if a “bait and switch” had happened right before their eyes. The owner was playing around willy-nilly with their livelihoods.

The day after the “announcement,” the engagement with On-Purpose Business Advisors was mutually ended. The company could pursue what eventually proved to be—no big surprise—a very costly tangent that killed trust and momentum … and eventually put the company all but out of business.

Of course, this client had a host of people telling him not to do what he was doing. He just refused to listen and paid with his family’s business.

An idea alone, even a great idea, is never justification or rationalization for starting new initiatives, projects, or companies. In most cases, investing the same effort to launch something new is more wisely invested in updating, upgrading, and deepening what exists already.

Let the simplicity of the On-Purpose business approach guide you: Do More of What You Do Best More Profitably. A great exercise for new projects or businesses is to use The Service Model to design and develop your idea.

By capturing the essence of your thinking with a consistent approach, you will be more realistic.

Then file it away and give yourself a cooling off period. Later pull it out and evaluate it against the other opportunities, projects, and ideas you have.

Personal/Team Discussion: Show and read this On-Purpose Business Minute to your team and ask the following: Considering the many projects and opportunities on our plate, assess each against … Just because we can, do we?

The drive to make money and the capacity to produce are not predictors of customer acceptance. What lessons or stories do you have to share about leading the organization?

How Authentic Is Your Personal Brand?

July 5, 2018 By kwmccarthy

CAUTION: The text that follows may disturb and upset you, especially later in this blog post. The words are offered in the spirit of truth in love. If you are offended or hurt, then you needed to read them more than you understand right now.

The integration of your personal brand and personal identity will improve both your life and your work life.

Investing time to anchor your personal brand in the bedrock of your being will prosper you, plus the world will be a better place because of you.

The desire, ability, and effort to be authentic requires us to overcome the natural decay or decline within us. In other words, being reactive, negative, and pessimistic is easy. This “laziness about life” is like emotional gravity that’s relentlessly pulling our spirits downward into a dark place.

Given this force of nature, a decision to be true to one’s greater good followed by effort in action is non-negotiable if we’re to be our authentic selves.

The marketplace is tough enough as it is. When we’re trying to “fake it until we make it” we are inauthentic—merely actors playing the role of some fictional character crafted in the deceit of our mind’s making. The script can only work so far until soon our sense of self, right and wrong, and how to make honorable decisions is so compromised that we lose our moral center.

When we no longer know who we are, we can no longer trust or develop our instinct and conscience.

Nor can other people. When people can’t trust us they guard themselves from us. This translates into lost opportunities we never even knew we missed. Doors don’t open. Referrals and recommendations don’t flow our way.

Living in a false construct is destructive.

We’re set up for the fall personally or professionally or both. Living a lie always comes with a price. Covering up our failure of authenticity invariably exacerbates the problems to ourselves and for others into full bloom. “Nipping it in the bud” has always been sage advice.

Do you find your life to be growing in complication and overly busy? Busyness distracts us from our unfinished business.

Is now the time to assess your personal brand, including the image you portray?

Soul searching is truly good for the soul and good for business.

Some of the hallmarks of authentic leaders are

patience
trust
honesty
action
perspective
calm

These are inner traits—some of which are hard-wired into us at birth. Most, however, are etched through the blessed pain of mistakes made, forgiveness sought, redemption made, and lessons learned.

Instinctively, you sense the unpredictable trajectory of your high risk–low reward behavior. You know that it is fraught with failure. Because if you rationalize “optimism,” which is really recklessness, the inevitable consequences catch up to your deceptive practices. If living lies is ruining your life, then make the tough shift of diverting from your present course.

It is never too late to have a new start.

Do a gut check. For example, the physical world reveals spiritual truths. Look at your waist. If you’ve got excess inches around your belly then here’s a clue—you’re living a lie that somehow your self-inflicted overindulgence will not affect your health. Right! Guess again.

How do I know about this inauthentic personal brand of living a lie?

Look at my chipmunk cheeks back in 2008 and me today. Who was headed for heart disease, high blood pressure, or type 2 diabetes? I was on the inevitable downward trajectory from bad habits, poor choices, and lack of understanding. That was the easy part to fix! It was the software programming within my mind and emotions that was the greater challenge.

How could I be on-purpose carrying around a 50-pound load every day?
How much more authentic am I when I’m not self-inflicting harm?
How could I expect to prosper the planet when I was damaging and endangering myself?

The burden of excess weight dragged me down physically which affected my mind, spirit, and opportunities.

Are you ready to reverse and renew your life?

Have you reached the breaking point where the price of living a lie spoken upon you or self-manufactured and maintained has become a string of overwhelming lies that fray the very soul of your authenticity and identity? Reach out for help now. Recalibrate and realign the trajectory of your life. Time can be an enemy that reveals or a friend who heals. Begin the healing!

Reclaim your true identity.

Here are practical next step suggestions:

Reread The On-Purpose Person.
Download the free Discovery Guide and figure out what matters most to you.
Get one-on-one coaching from a Life Coach of your choice or from me.
Get on the path to being healthy. If you know a Health Coach contact him or her. If you want to talk with one, contact me and I’ll coach you in the program that helped me lose 50 pounds, or I’ll refer you to a Health Coach on our team.

The tag line of On-Purpose begins with “Be Yourself.” Incorporate this simple statement into your decision-making. The less you pose, the more you will be and become the authentic leader of your life you know you are.

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This On-Purpose Minute is a contribution I made to Crowned Grace International, an organization led by my colleague and friend Dr. Stephanie Parson.

What’s the Deal with Time Management?

June 28, 2018 By kwmccarthy

Was this On-Purpose Business Minute a gut check in your life?

Did you come to a realization that time isn’t your challenge, but it is your lack of clarity around your values and your purpose?

You’re a person in business, especially with your busyness. You’ve heard it said, “Time is money,” and “Time is your most precious resource.”

Anxiously, you check your phones and watches; arrange calendars and appointments; sync your tablets, phones, and computers; and use many “labor saving” devices. Yet, you feel the need for more and more time and believe more tools, and—maybe—a new app will make the difference. Wrong!

Do your checklists and to-do lists just keep getting longer and longer? Does it seem that the longer you’re alive the more behind you are? Yep!

So how’s time management working for you?

Admit it if you feel like you’re squandering your time far too much of the time. Get real with yourself about it so you can actually do something about it.

Stop blaming time.

Time doesn’t care, know, feel, or think. It only on marches on.

So what is “poor time management” costing you?

Are you feeling stressed and stretched so thin that you’re catching yourself wondering, “Is this as good as life gets?”
Are you trading your days on the planet for dollars in your pocket?
Does having your life built on sand instead of a firm foundation leave you anxious and concerned for your future and the well-being of your family and business?
Are you finally ready to arrest the craziness of busyness?

Please let me help you.

We offer an 8-session one-on-one personal and professional advisory experience based on The On-Purpose Person where you will fill in the gaps within the foundation of your life and work. Over the phone, we’ll have eight 75- to 90-minute sessions that will stir your heart and disturb your thinking. And then we’ll integrate it all around what matters most for you so you’ll finally be an on-purpose person in creation.

Looking to improve your personal leadership quotient? Consider the On-Purpose Personal Leadership Coaching program. Your investment is just $1,500 and the return is a lifetime improvement in every facet of your life.

There’s also an executive coaching version of the program for $4,500 where we integrate your life and business so you can do more of what you do best more profitably.