Kevin W. McCarthy

The Professor of On-Purpose

Business

Why Is My Business Struggling?

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Fortune 1000 company CEOs and small start-up business owners who have yet to make $1,000 often share the same problem—a business struggling to succeed. Economic conditions can definitely have an effect.

Many of the business challenges I see, however, are self-inflicted!

Business problems due to lack of sales revenue are most often addressed at the surface level—”We need a new website, lower prices, more salespeople, and so forth.” Sales and marketing are obvious places to look by the entrepreneur or even seasoned CEO.

Business solutions like these are where hordes of consultants and advisors earn their fees. Most often they are well earned and justified.

But wait—there’s more!

My experience as a business advisor for CEOs of multi-billion dollar companies and one person start-ups tells me that these tactical plans and approaches to problem businesses are often futile. It leaves the business struggling and focused on the wrong activities, even if well intended.

The culprit of many a business challenge lies below the surface.

If the basic business design, model, and plan have flaws then the entire business is off the mark. The larger the business, the more it lives within the corporate culture—for better or worse. Even a small defect at the core of the business can be expensive.

What To Do

  1. Watch this video on The On-Purpose Business Plan. Invest 9 minutes right now. This will help you find undiscovered wealth within your business. As you’re watching ask yourself if your business has this kind of thinking and structure in place and developed. Better yet, ask yourself the value of it if you did have it in place. When you build your business on your purpose, then you’re capable of offering a full-bodied expression of your business instead of the typically tactical and anemic offerings of today.

If something is missing in your business … it is probably here!

    2. Do This: STOP! = Start Thinking On-Purpose! 

How to do that: Try this simple exercise. Write down your “truths” about your business. This could include your assumptions about your customers, the market conditions, what it takes to sell, the benefits and features of your product or service, costs, the quality of your team or delivery … you get the idea. Jot down what you hold as a reality or truth in your business. These are your assumptions and concepts.

Next, take your list to two or three people outside your industry and ask them to review the list and to tell you their take on your observations plus their thoughts and perceptions. Avoid defensiveness. Wear your R&D and market research hat and listen—don’t tell—and just ask.

Finally, interview a few customers or targeted prospects to learn if your truths are reality or simply impressions that constrain your business development and growth. Ponder it and then adjust accordingly!

Humility Matters: Who Is Keeping You Real?

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So you think you have this on-purpose thing mastered in your work life?

Yep, as you’re getting more and more on-purpose you’re being sought and placed into positions of leadership. Your star is rising.

Now for the bad news — there’s a downside to being on-purpose.

Guard against the arrogance of being on-purpose or, ironically, you’ll end up being off-purpose.

Success can breed a winner’s arrogance versus a servant leader’s confidence and humility.

Who is keeping you grounded and real? It better be someone!

Are you a business leader looking for an executive coach to give you a true perspective on your personal self-importance reading? Below are some great referrals for you and me. Tell ’em I sent you.

1. Mary Tomlinson in Raleigh, NC. Email Mary. Mary has a stellar corporate executive background at Walt Disney World plus 16 years of being an independent coach, consultant, and speaker.

2. John Smith (yes, his real name), my mentor. Email John. John has a decades-long career in the ministry of serving CEOs.

3. Dave Vogelpohl is a senior-level business advisor with both big business experience and small business consulting insights. In recent years, Dave has been doing a lot of church consulting—when I’m not bugging him to help me sort out options.

4. Kevin W. McCarthy. Yes, I’m available for business advisory services to help individuals and organizations to be on-purpose.

Business Building: A “ME” or a “WE” Business?

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Business building is exciting.

Don’t let the excitement get the better of you. There’s a fork in the road in your business design that is too easily missed or goes unrecognized. The strategic and performance implications are profound.

If you are planning to start up a small business or are already running one, then you have a deep leadership decision about the orientation and attitude of your business as a “ME” business or a “WE” business. This orientation will play a major role in defining your corporate culture as well as the long-term sustainability of your organization—even its viability to be sold.

Here are two basic ways to go about business building:

M.E. = My Ego

or

W.E. = Winning for Everyone

Many professionals’ offices and mom and pop businesses are “ME” businesses simply by default or lack of knowing any better. “ME” businesses may provide adequate customer service, but they are more likely a source of periodic customer service nightmare stories.

Being a business advisor for over three decades, I’ve observed that most ME businesses do not have happy endings for the business owners who are unaware of the “ME or WE” business model. Either the business success is so dependent on the person that there isn’t a viable exit strategy, or the reputation of the business is so poor there’s no goodwill worth buying.

  • The employees are workers doing the owner’s bidding, so in the boss’s absence they’re lost or unable to act independently.
  • Sale of the business is next to impossible, or it will be bought for pennies on the dollar.
  • Family members capable who would be a logical part of the succession planning have long since departed the scene to carve their own way. Or worse, they’re still around as dependents. This latter situation can get ugly fast.

Generally, these ME enterprises close when the dominant or alpha personality departs by either retirement or death. If by chance, the business is sold, the valuations are almost always discounted or only asset-valuations based because the business is so revenue and operationally dependent upon the owner.

However, if you’re unwilling, unable, or just don’t care about the long-term sustainability or saleability of the business, and if you’ve made an informed decision about having a “ME” business, then press into it all the way.

As long as you’re building a ME business by design and you understand the downside and can accept it, then there’s nothing inherently wrong with just shutting the doors when you’re done.

“WE” businesses are looking for win-win outcomes for everyone involved.

Candidly, the “Everyone Profits” mindset is a challenge to design, create, and execute, but done well is far easier to sustain and manage. (Here’s a huge tip: use The On-Purpose Business Plan as a guide.) When the people thrive, the business is more likely to follow suit.

An owner who cares about people infuses that attitude to the employees, who pass it along to the customers, who in turn send their referrals.

The spirit of customer service begins with a decision about whom the business serves. If you’ve never thought about your business orientation as “ME” or “WE,” then invest a few minutes to take a hard look in the mirror. I promise you that you can improve your lifestyle, position, and business performance if you will make a TOPBPerson coverdecision regarding your business orientation and then take it deeply one way or the other.

Don’t stay in the mushy middle. Pick a direction and run to it.

The On-Purpose® Approach is a service concept with “WE” checks and balances. Yes, it is more difficult to design and develop, but it brings a sustainable and durable dimension to the business. If you need help forming or transforming your “WE” business, let us know. We have business advisors who can guide you regardless of the size of your business.

Are You Thinking of Starting a Business?

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Economic tough times, job loss, greater expression, or the chance to be your own boss are just some of the reasons people start a business. The barriers to entry are relatively low and the opportunities for success often appear high.

The hurdles to success, however, are hidden at the start but invariably emerge. Be aware of what lies ahead and you increase your odds of winning.

Looking for some help with either starting or running your business?

On-Purpose Partners provides business advisory services. Our clients and customers have spanned from Founders and CEOs of Fortune 500 companies to wannabe entrepreneurs.

If your business is less than $2 million in sales, you can hire me to help you with our On-Purpose Executive Coaching.

Can’t afford much?

  • The On-Purpose Business Person is available in softcover or Kindle e-book.
  • The Service Model is an inexpensive tool to help you plan your business, anticipate what’s coming, and understand the relationships of one level of the business to the next. Order one, just one, because you can print more from the PDF.

Here’s the bottom line for your business start-up (or ongoing venture): invest the time to articulate your purpose, vision, missions, and values.

Until you know

  • who you are
  • why you are here
  • where you are going
  • and what’s important

you’re really at a major and costly strategic disadvantage.

When it comes to your small business start-up or ongoing enterprise, give yourself every advantage by being on-purpose.

 

Is Your Business Running You Ragged?

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If your business is running you ragged, then it means you’re using old strategies in the new economy.

Is it time for an update? Perhaps this holiday season is a time to contemplate and reconsider your priorities.

In the 20th Century’s Industrial Age, much of the prevailing “wisdom” of the day was along this line of thinking: “Keep your personal life separated from your business life.” This compartmentalized approach to life provided clear lines between work and family. By and large, it worked to preserve a certain measure of sanity for much of the industrialized population that was engaged in routine, mindless work.

The downside of separation, however, is the dehumanizing of workers and poor business ethics.

When people are human resources then they are assets—commodities bought and sold by management. When we act one way on Sunday and another way on Monday, our decisions are easier and expedient but not necessarily morally sound or even best business practices.

The 21st Century, however, is in full swing into the Knowledge Age and the knowledge worker.

Separation of one’s work and life isn’t so easy because we carry our work in our heads.

It was easy to walk away from a milling machine, but keyboards surround us at work, at home, and on our smartphones and tablets. The lines between home and work are blurred beyond recognition.

The situation is so severe that many service companies offer “Work–Life Balance” programs to address the growing problem of employee workaholism, health, and burnout. Time management is nearly a joke anymore in this 24/7 society where our noses are glued to our apps.

Now as we stand on the edge of the Age of Purpose and Meaning where separation is a liability, just what are we supposed to do?

Do we separate? Do we balance?

The On-Purpose® Approach provides answers for the New Age. Balance in your life is a false ideal. (See: Do You Want A Balanced Life?) The 21st Century way of doing life and work is integration with healthy boundaries.

An integrated life has a point of integration—your purpose.

The more we are pushed upon, the more we need to know who we are and what is our purpose in life so we can resist, rest, and rebound. A solid core to our life enables us to establish appropriate boundaries so “Our yes can be yes, and our no can be no.” The risks of not knowing who we are is unhealthy to our body, mind, and spirit.

Gain Health! Gain Your Life!

When your business is running you, then you’re not running your life. Use the On-Purpose® Approach to run ahead and find the margin you need. The On-Purpose Peace and The On-Purpose Person set is an amazing coaching or small group experience to help you get ahead of your life so you’re in charge and on-purpose.

Be On-Purpose!

Kevin

What Kind of Business Owner Are You?

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Business owners are anyone with a job to do.

In The On-Purpose Business Person I write about the Think Inc! mindset and the importance of taking on responsibility. Blame is the easily spread dung of cowards. They avoid consequences, but will revel in results.

responsibility To put oneself on the line along with the ensuing consequences (good or bad) takes guts.

If you’ll simply get started with assuming responsibilities, you’ll be amazed at how it feeds your confidence and fuels your growth. Rarely will you blow it. Always will you learn from it. The more you attempt, improve, and succeed, then the more opportunity and increasing responsibility will come your way.

Hopefully, you have an executive coach or mentor who helps you sort and think through your responses and lessons when you miss. Your confidant can give you perspective when you miss or hit the mark plus help you raise the bar of what’s possible for you next.

One of the most important roles of a business owner is to set and create a culture or an environment.

How well are you doing with those around you? We can be slack about it or intentional. We can encourage the taking of responsibility or we can crush it. The same holds true at home. It reflects an approach to life, marriage, rearing children, or volunteering for a committee at a not-for-profit.

As a result of this On-Purpose Business Minute, please challenge yourself to truly reflect on this important aspect of leading by taking responsibility for yourself, your actions, and your choices.

Just what kind of business owner are you?

 

Is It Lonely At The Top? Delegation Can Help.

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Chapter 20 of the 1998 version of The On-Purpose Business is titled The Micro-Business, a term I coined then to describe a growing trend of the workplace moving into the homestead. SoHo is a subsequent term that means “Small Office, Home Office.” In the updated version of The On-Purpose Business Person, I decided to go with a new term: Solo Owners. This term includes the one person shop as well as the single owner or couple with employees.

All of these terms describe a growing percentage of the working population who are setting up business from their home either by design or by necessity because of being out of work. These are the brave men and women who tackle the many challenges of owning a small business.  book cover - the on purpose business person

Typically, it is best to think of Solo Owners as one-person shops with support that is either virtual or in close proximity.

  • Professionals such as doctors, lawyers, CPAs, architects, and engineers
  • Skilled trades like carpenters, plumbers, and landscapers
  • Independent cottage industrialists, inventors, counselors, coaches, consultants, and salespersons
  • Creative persons like artists, musicians, writers, and songwriters

Many operate micro-franchises such as those found in the direct sales industry with MLMs and party plan companies.

Solo Owners are diverse, but their challenges are actually quite predictable.

They share a common ailment: what they imagined it would be like and what it is really like are different from what they anticipated.

If you are a Solo Owner, you’ll probably relate to the challenges of getting things accomplished, managing your time, and the constant learning process. The absence of co-workers and mentors is frequently mentioned as well.

What to do? Here’s a simple business leadership growth plan:

  1. Learn about business
  2. Learn to lead yourself and others
  3. Learn how to cooperate and work with othersHellegation - overwhelmed

Solo Owners easily fall into the trap of what I call Hellegation™ – the inability to delegate that creates a living hell on the job. You have a choice: delegation or Hellegation! Follow the advice above and you’re on your way to salvation.

If you’re really stuck, then invest in On-Purpose Executive Coaching to find the freedom business ownership promises to provide.

So, what are your challenges with being lonely at the top and the bottom?

Please share a tip for other Solo Owners below in the comments section. Or ask a question and I’ll add what I can to answer your questions, direct you to resources, or point you toward someone else who can assist you. Others may help you as well. We solo owners need each other. Let’s start now.

Be On-Purpose!
Kevin

What Makes for a Good Day’s Work?

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What is your measure for a good day’s work?

Chances are you know a good day when you have one, but do you have any specific measures that you could apply to your workday? If you don’t have specific measures, then is it any surprise that so many days are less than fulfilling?

A consistent comment I hear from business advisory clients is dissatisfaction and lack of personal productivity.

Because most of my clients are business owners, CEOs, and presidents, they tend to measure company sales and profits as the basis of success. Of course, that measure is really one for the business, not the person.

Today I’m turning to you to share your standard(s) for what makes for a good day’s work for you. Please use the comments section below today’s On-Purpose Business Minute to share your thoughts with all of us.

Be On-Purpose!

Kevin