Business plan

Can I Profit AND Gain My Soul?

September 27, 2018 By kwmccarthy

The 3 Tips for Profiting The World AND Gaining Your Soul

Guard your heart
Focus on the soul of people
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?”

How Good Is Your Life Plan?

August 28, 2018 By kwmccarthy

Be honest with yourself … do you know how to make a life plan?

Do you even have a plan?

Is it a written life plan?

My experience with clients and readers of The On-Purpose Person tells me very few people have any sort of a plan in place for their lives, especially a written plan. Sure, we have ideas and dreams that we ponder now and then, but to take it to the step of writing out a plan is very rare.

The process in The On-Purpose Person is a format and guide for creating a life plan that is very meaningful and gives you a strategic advantage in life.

Imagine a contractor attempting to build a house without blueprints. It makes no sense, yet many of us are building lives without the benefit of a plan.

Do you want a life plan?

Chances are you don’t know how to structure your life and process the information, so you haven’t created one. Here’s where one of our On-Purpose Personal Leadership Coaches might serve you well.

I have access to the all-time, world’s best planner. Drop me a line, briefly share your interest and the help you want. Perhaps you’ll want to meet him?

Be On-Purpose!
Kevin

The On-Purpose Person and Making Life Plans:

“Without a doubt this is the best guide I have seen for creating a meaningful life and plan.”
– Dr. Malcolm E. Hawley, DDS

“The On-Purpose Person is a valuable addition to an important and growing literature on effective time management and leadership. McCarthy brings to life and makes operational powerful ideas that will help all of us make a difference.”
– John W. Rosenblum, PhD, Dean Emeritus, The Darden School

“The best tool I’ve seen for turning good intentions into positive actions. Highly recommended for anybody, but especially for those who need a way to organize unstructured time—like clergy!”
– The Right Reverend William Frey,
Dean, Trinity Episcopal School for Ministry, retired

“What’s happened to the American Dream? Despite working harder, too many people lack fulfillment, happiness, and emotional security. The On-Purpose Person gets us back on track, organized around what really matters, and equipped with a purpose and plan for thriving in a rapidly changing world.”
– Dr. Wayne Scott Andersen, D.O.
Author, Dr. A’s The Habits of Health

“Reading The On-Purpose Person changed my life. The concepts and practical applications detailed in this wonderfully engaging book empowered me to re-focus my personal and professional goals to achieve true inner peace.”
– Gordie Allen
CEO & Professional Sales Trainer, Leads-Plus, Inc.

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.

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?

Are Business Plans Still Relevant?

June 21, 2018 By kwmccarthy

What’s your business plan?

What? Don’t have one? Don’t put it off much longer!

With the ever-increasing speed of business, can business plans keep pace? In this On-Purpose Business Minute, let’s explore the shift in the nature and the need of business plans.

We’re in an era of people and speed—two generally opposing forces.

Most of us don’t embrace change readily or easily. This resistance slows down the speed of the organization and growth that is so sought by the organizational leadership and demanded by the marketplace. By embracing this basic understanding of human nature and the inherent conflict you’ll be wiser and smarter about what to do.

Armed with this insight about the change–speed challenge, the logical question is What to do about the need for speed and change.

First, accept it.
Second, manage it by going to the deep strategy—purpose, vision, mission, and values. These “clinical” understandings of the corporate culture need to be communicated via strategic stories that infuse and educate the team about why what they’re doing makes a difference. In other words, resistance to change falls by the wayside when the opportunity before us is contribution to a greater good. In fact, we get anxious (in a good way) and excited to see it come about. Now speed is what the team wants.
Third, make the connection between a traditional business plan and the purpose of your organization.

Much is written these days about corporate culture.

But what is it really?
How is it shaped?
What needs to happen to create and sustain it?

Deep strategy is the start in the form of an elegant business plan.

If you are a start-up or small business with ambition, then get ahead of the curve today by planning your corporate culture. If you’re leading a larger organization, then you can truly get big gains by going deep. It is more complicated the larger the business, but it is all manageable.

Do you have the “deep strategy” strength and clarity in place to engage and inspire your team so they’ll advance and accelerate the organizational goal?

Need help? Contact me.

How Much Planning Is Enough?

April 26, 2018 By kwmccarthy

“How much planning is enough?” is a question I’m often asked by business clients. It poses an interesting query because some of us are planners and others of us are more action-oriented.

There is a fine line between “gettin’ ready” and “gettin’ going.”

None of us are immune from the dilemma of how much is enough.

I see this in my business and life, and, even, authoring books and articles or producing On-Purpose Business Minutes.

Here’s one of my On-Purpose Proverbs on the topic. Perhaps it will give you a rough rule of thumb:

People who don’t have time to plan, need to plan more. People who have time to plan, need to execute more.

Figure out which one “people” you are and adjust accordingly!

Here’s a bit of a litmus test for you to see if you’ve got it right.

If your business is making sufficient revenue AND you have a high degree of personal and professional satisfaction PLUS you’re optimistic about the future, then chances are you’ve struck the right chord. If, however, the previous sentence doesn’t describe your current reality, then use The On-Purpose Proverb above to make a quick assessment of where you need to adjust your attention to find improvement.

Planning is typically considered to be in the wheelhouse of strengths for executive officers.

The reality is we all need to be planners to some degree. The difference in planning from the boardroom compared to the mail room is the scope and authority of the influence. The greater the authority and number of people following the plan, the more important the role of planning becomes to the organization.

Oh! One last thing. When doing planning, please make sure you execute on at least one thing: create a written plan, even if your plan is as simple as a “to do list” with names and dates. The “I Got It Right Here Between My Ears Plan” is really a dream without a deadline, details, and typically, satisfying results. You’re too at-risk of being distracted by shining new objects that cross your path.

“The executive of the future will be rated by his ability to anticipate his problems rather than to meet them as they come.” — Howard Coonley

Admit it! You’re prone to unproductive distractions, but chances are if you’re a person who invests time to watch the On-Purpose Business Minutes, then you’re committed to working on you, to becoming a better person and leader. What tips or suggestions can you offer us? Please use the comment section below to share your wisdom and school of hard knocks lessons learned.

What Is The Purpose of A Business Plan?

March 22, 2018 By kwmccarthy

Writing a business plan?

It is hard to argue against the idea of writing a business plan, yet experience tells me very few business owners actually write one.

Wrong choice! In this fast-paced dynamic business environment, a business purpose and plan have never been more needed. They’re essential to decisions and growth regardless of the business size.

The problem isn’t with the business plan, per se; it is the speed of the person creating the business plan which makes it irrelevant to the business. Most business owners aren’t skilled as business plan writers so their mythologies and misgivings are often unfounded in reality. Speed comes with experience and practice.

Too many times, I’ve heard business owners lament that they don’t have time to do a business plan. Hint: maybe the reason they don’t have time is because they’re not working from a plan. That’s more a comment about their limited skills, experience, and understanding or unwillingness to get help.

60-Minute or Less Simple Planning Method

Consider the old adage, “If you have only a day to cut down a tree with an ax, then invest time sharpening the ax before you begin.” Let me add: Continue to check and sharpen it throughout the day. A business plan is a sharp ax that you can take to the forest of business challenges you face and make progress faster, more affordable, and with less energy … sounds like profits to me!

Pull out a blank sheet of paper, go to a whiteboard or flip chart, or open an electronic file to capture your thoughts. Do the brain dump! Then sort it out into a more coherent and logical flow of actions steps. Assign people and dates and you’re ready to go!

A simple idea-clarifying informal business plan can often be done in less than 60 minutes. Practice the following method on smaller projects where the risk, scale, and scope aren’t so large. Practice the process on less demanding content and matters and you’ll be preparing for writing the business plan for the entire business.

Who Are You Fooling?

I’ve even been told by business owners, “A business plan isn’t relevant to my business.” There may be a good reason why business planning is often put aside, but dismissing it as irrelevant is risky business. While creating a business plan is something every entrepreneur or CEO is wise to do, they often don’t. It is a unique skill set that they don’t invest time in learning how to do. In their minds, it seems to be an exercise for the academics and not for people of action.

Reconsider what the pros do.

For example, your favorite NFL team has a plan for the franchise, the season, and a game plan and playbook going into every game for every week of the season for as long as they’re winning into the post-season. They’re professionals who have learned to crank out a “business plan” for every week. To get the results they seek they don’t have an option. Even then, games will be lost. Lessons learned and personnel trained to improve.

Action, even well-intended actions, without a purpose and a plan incrementally lower the trajectory of achievement.

Business planning, hey, it’s optional. That’s a dangerous mindset fraught with avoidable pitfalls. Running by the seat of one’s pants can become a way of life and business. Could this be part of the explanation why the failure rate of small businesses is so high?

Candidly, if taxes didn’t have to be paid, I wonder how many small business owners would have a financial and accounting system in place! Because the IRS likes to be paid and has means of enforcement to be paid, bookkeeping and accounting are done because outside consequences exist. Because business planning is “optional,” it is too easy to not get it done.

So what is the purpose of a business plan?

It helps to know that there are three broad types of business plans:

Financing business plans are done to obtain financing from either investors or lenders. These business plans tend to be formal and time consuming because of the scrutiny of due diligence. Most business planning software leans in this direction.
Functional business plans are more operational or oriented towards helping team members get on the same page to move the business forward. These blueprints for the business are informative and best used for internal use, direction, and communication.
Strategic business plans are very useful, for example, for taking your business ideas and transforming them into a business model. These can be very informal—notes on a yellow pad or napkin—to PowerPoint presentations to more formally written documents.

Audience Matters

Who is going to be reading your business plan and why? Your need for a business plan really depends upon the audience for whom it is written.

Financing business plans are targeted toward outsiders to attract investment.
Functional business plans involve engaging the team. There is a certain amount of assumed inside knowledge.
Strategic plans are best written for the leader of the plan to gain insight and clarity. This enables the entrepreneur to capture thoughts and sort the various elements of a business into an orderly approach.

Each of these business plans has common elements that you’ll find layered in The Service Model™ (see graphic) from The On-Purpose Business Person.

Creating a business plan is something every entrepreneur should do, but you need to know why you are writing the business plan and the audience.

I’ve seen far too many start-up organizations buy business planning software and invest months writing it. The process of doing their market research, developing cash flow statements, defining their organizational chart, etc. is useful, but is the marginal return on investment worth it? Sometimes you just need to get started and prove your concept in order to improve your business model.

Practically, it is rarely as valuable as the benefit of having a simple business plan and getting started. There’s nothing quite like opening the doors on a small scale and learning from the market. This said, if you have only one part of a business plan to get right—put together your business marketing plan.

Planning is not about perfection.

Rather it is about anticipating pitfalls and avoiding them, as well as leveraging opportunities to the max. Plans are meant to save us time, money, and energy. Always consider the ROI (return on investment) for your planning process.

Over the years, I’ve told my clients to use this ratio when business planning: 1% planning:99% execution. Rinse and repeat!

On-Purpose Business Tip: The Service Model from The On-Purpose Business Person provides a simple business plan template to provoke thoughtful inquiry and usefulness. Click here to purchase the 1-page Service Model form ($1.97) along with a brief instruction guide.

Is Your Leadership Being Choked?

March 1, 2018 By kwmccarthy

As leaders, we’re prone to move from one task to the next with mental speed and insightful clarity.

Distractions, busyness, and just plain old bad habits have a way of gradually yet persistently working their way into our lives. Pretty soon we’re enslaved in activities and relationships that take us off-purpose.

In today’s On-Purpose Business Minute, I share a metaphor and lessons learned from a day of hard, back-breaking yard work and getting my hands dirty. As you can see, my mind was also hard at work.

As leaders, it is important that we get to the root of matters.

Paying attention to the details while still seeing the big picture isn’t always easy. Even if you’re not very good at both, at least be aware of the importance of both to avoid getting blind-sided. Surround yourself with complementary talent and trusted advisors so you grasp a greater perspective and insight into an important matter. This will free you to do more of what you do best more profitably.

No sense getting lost in the bushes and choked out of the beauty of how your business can bloom and grow.

Need some help with getting to the roots of your leadership? At On-Purpose Partners, we offer 1:1 executive and personal leadership coaching. Learn more here.