Tag Archives: business

Asking for Help…

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Often one of the most important lessons we learn as business owners, innovators, and leaders is how and when to ask for help.

In 2001, I was VP of Global Supplier Contracts at Avnet, Inc. a Fortune 500 global distributor of electronic components and computers.

I had an idea for a new kind of business and took the idea to Avnet Chairman and CEO, Roy Vallee. We discussed the potential benefits to the company and what I wanted to do to make it happen. He told me to “…take the idea and run with it. Take it as far as you can and come back to me if you need help.” There are 3 components to this advice:

1) develop new ideas;

2) plan and take action;

3) ask for help.

At the time, for me, #3 was the MOST important. Up to that point, I had done everything for the project on my own. To make it viable, I had to find the people and resources that I lacked and get them to be part of the solution. A year later, Avnet decided that the time was not right to proceed with the project. But I was not ready to give it up.

So, I  took Roy’s advice and asked for help.

First I asked Avnet’s permission to take some of the ideas I had developed and create my own business. They said yes.

Then I looked for and found the best people and resources to partner with to build that business. They said yes too.

The result, CorePurpose, Inc. has been supporting other businesses in their journey along the growth path since July of 2002. Our whole business is built around having the right resources and knowing how to get help when you need it.”

Applying the Lesson

For many of us, asking for help is not an easy thing to do.  Many still believe that asking for help makes you appear weak or out of control.  Contrary to this belief, asking for help at the right time and for the right reasons is NOT a sign of weakness, but rather can be a sign of confidence, strength and savvy resource management.

Few organizations or projects succeed without some form of assistance today – be it leadership, financial, supply chain, staffing, technology resources, or a myriad of other needs.  Interestingly, the strategic process we go through in developing our program or project can also be a great process to follow when determining how to go about finding the right help at the right time.

Develop new ideas

Look at each step of your current strategic plan or program map.  Identify the areas where the process or program can be strengthened through outside support or other partnerships.  Look at each step of your process not only in light of how a strategic partner can benefit you but also how, by working together, the partner will benefit too.

Plan and Take Action

Evaluate the things that you are doing that might be done as well as you are currently doing them or can be done even better by others.

Start by identifying outside resources for non core activities and then evaluate how you can better utilize your existing resources by redeploying them into core areas of strength or differentiation within your organization.  Strategic partnerships like these are a resource investment for you and the partner.  Be realistic in calculating the ROI for both parties.

Put together presentations you can make to potential strategic partners with a focus on how each of you will benefit from the partnership.  Then build your target partner list and start scheduling the presentations.

Asking for help.

Following this process, asking for help moves from sending out an ‘S.O.S.’ or distress call to proactively building relationships where both parties benefit.  Now, you are  not just asking someone to help you with a business challenge, you are offering to help them overcome one of theirs.

So, don’t be afraid to ask for help.

Look at your business on a regular basis to determine how by asking for help, you can make your business stronger, more cost efficient, or more financially sound.  You’ll never know, until you ask!

Thanks for stopping by.  Stay Tuned…

Joan Koerber-Walker

Recipe for Growth – A Pound of Leadership and a Dash of Innovation

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In today’s economy, wouldn’t it be wonderful if there was a magic recipe for growth?  Just pull out your business cook book, follow the instructions, pop it in the oven and enjoy success.  Unfortunately it’s not quite that easy.  If it was, we would all master the recipe early and reap the benefits.

j0402524[1]But in reality it is not that simple.  Business success requires a unique mix of ingredients and process that fluctuates with changes in our internal and external business environment.

I remember, when I was a kid, my Grandmother telling me, “If you want to eat, you need to learn to cook.”  Well, in the world of business – the same can be said.

Each recipe starts with a goal in mind.

You have a physical or mental picture of what your desired result will be whether it is scrambled eggs, a mushroom quiche, or chocolate chip cookies.

The second section is the list of ingredients

If I am making my favorite, warm, gooey Chocolate Chip Cookies – there are some basic foundational ingredients   – butter, sugar, flour, eggs.

I need a leavening agent like  baking soda or baking powder to make my batter rise.

Flavoring – like vanilla or almond extract

And differentiators like chocolate chips, nuts, coconut, or raisins to make my cookies stand out.

I also need to focus on the quality of my ingredients to ensure a great result.  Lot’s of people may have the same recipe – but the quality of the ingredients I use can make my cookies better than the rest.

Apply Energy

And then I need to apply just the right amount of energy to make it all blend together. Plus a different kind of energy to bake it into a finished product.

Results

Only when the cookies are out of the oven, cooled, and in my mouth will I know if I have obtained the desired results. If it’s not perfect – I can always try again.

Applying it to business.

When it comes to our businesses the processes are not that different.  We need…

A goal – that clear picture of what we are trying to achieve.

The right base ingredients – a product, a  service, a market to serve and people to do the work.

A leavening agent – No baking soda here – this the the values that you and your people employ as you follow the plan.

Flavoring – your marketing and communications strategy

Differentiators – the unique aspects or innovations that you bring to the equation and to your customers.

To Add Energy – in the right proportions at the right time – and that’s where leadership comes in.   Not enough energy and your result is half baked.  Too much and your result is burned to a crisp.

Don’t forget to focus on the quality of your ingredients to ensure a great result.  Lot’s of people may have the same recipe – but the quality of the ingredients you use can make YOUR BUSINESS better than the rest.

There is a recipe after all.

You just have to keep experimenting until you find yours.

So, what are you going to mix up and pop in the oven?

Thanks for stopping by.  Stay Tuned…

Joan Koerber-Walker

Looking Outside

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One of the biggest mistakes we can make as innovators and business leaders is to assume that we automatically know what our customers want, need, and are willing to buy.

readysetgrow2I learned that lesson the hard way in 2004 when I came up  with a ‘brilliant’ idea.

CorePurpose, Inc., the company I founded in 2002, would run a 12 month lecture series with thought leaders from across the country.

We were smack dab in the middle of a down turn.  People were looking for answers and strategies to help turn things around.  And of course – I knew who had the answers.  I would bring them to town, one each month, and help all the small businesses by giving them access to ideas and talent as a group that they could not afford individually. I was really excited!

The folks at the Phoenix Business Journal also thought it was a great idea and featured the program with a full page story to kick things off in January 2, 2004.  Doug Brodman and my friends  at AVI Communications created an incredible 12 month interactive marketing campaign highlighting each month’s speaker in addition to the ads (like the one above)that would run each month in the Business Journal .  We had a sure fire hit!

Well, maybe not.  While we had gotten great feedback in designing the program as to the topics of interest, the areas of need, and the program’s price, we failed to ask one key question:

Would they, as business owners, make the investment of their time to attend twelve half day sessions throughout the year?

It turns out that for many in our target market, the answer was no!  Instead of standing room only crowds, the room was half full each month.  Still, we held to our commitment to provide all twelve sessions.  Those that attended loved the program.  CorePurpose got lots of critical acclaim from the economic development community and even won awards.

Through out the year, we kept asking potential customers – many of whom we had talked to during the design process – what we needed to do differently.  In almost every case we got the same answer.

They could not afford the time away from the office when times were so tough.  The perceived benefit did not exceed the perceived cost… of their time!

In the end, the program lost over $60,000 dollars because I assumed I knew the answer to one very important question and did not ask it.

Back then, that was a BIG hit to take.

So what is the moral to this story?

When you are designing products or services, be sure that you look outside your organization and ask ALL the important questions.

Get with professionals to help you design accurate assessments of market needs AND your target customer’s willingness to adopt what you are creating before you commit to investing your time and money to create a product or service that customers may say they want – but may not be willing or able to buy.

And for me – as a personal reminder – this ad has a place of honor on my office wall.  It stands as a reminder to be sure to look outside of the company, to talk to customers and prospects, and to ask all the right questions – FIRST.

Thanks for stopping by.  Stay Tuned…

Joan Koerber-Walker

How big of an impact can one thing make?

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I remember my grandmother quoting the poem “For the Want of a Nail…” to me as a child. Her message to me – all things great and small can have tremendous impact on the success or failure of what we are trying to achieve”

For want of a nail,

V-Trak Nails 5 Citythe shoe was lost.

For want of the shoe,

the horse was lost.

For want of the horse,

the rider was lost.

For want of the rider,

the battle was lost.

For want of the battle,

the kingdom was lost.

And all for the want of a horseshoe nail!”

 

Anonymous

Grandma looked at life as a series of chapters, each full of choices, opportunities, goals and challenges. When one chapter ended, another commenced. You might not have control of all the twists and turns of the plot, but you could make a huge impact on how the story turned out.

So, why write an article about business – and that’s what this is – with old proverbs and messages learned at Grandma’s knee? Because we often make business and business decisions much more complicated than they need to be!

Many of the lessons we learned early on in our lives – when things were simple – can have a significant impact on business success. Simple lessons like –

  • Look both ways…
  • Listen to your teacher
  • Look out for your brother
  • Don’t cry over spilt milk
  • You’ never know until you try
  • If you fall down – get up
  • You’ll never finish if you don’t get started.

Our lives and our businesses are made of a continuous series of little things – some that may seem important at the time but have little impact in the grand scheme and others that seem insignificant but can have a long and lasting affect. The trouble is that we lack perfect intuition or the crystal ball to determine what the important things are right now.

There may be some pretty big questions that you are be facing in your life or business in today’s economy.  It pays to keep in mind that the simplest answers are often the right ones and, as in the case of the nail, one small thing can make a big difference. 

Thanks for stopping by.  Stay Tuned…

Joan Koerber-Walker

The Difference Between Knowing and Doing

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One of the great secrets to getting better results in your business is the difference between knowing something and doing something.

j0398745[1]Very often when you read a business book, blog or article, you may say to yourself, “I know that already.” And, you probably do.

The question is not if you know it – but rather, are you doing it? Are you using the knowledge?

As we build our strategy for better business results we must USE all we know and apply it to where our business is and where we want to take it to.

Next time you read about a business strategy or process improvement and recognize it as conventional wisdom, take the next step and try to list the ways that you and your company are actually demonstrating it.  You might be surprised what you find.

Ask Yourself…

Are we doing this?

Are we consistent?

How can we do this better?

The key here is the “WE”. Very often we assume that since we know what to do, others in our organization also know – and it is not always true. The key is to share what you know with your team and to act on it – together.

  Thanks for stopping by.  Stay Tuned.

Joan Koerber-Walker

The Economy and Your Economy

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When you view the world news on The Economy, its pretty dismal as recounted in the attached report from the Associated Press. [youtube=http://www.youtube.com/watch?v=rib6oprOsuo]

The important thing to remember is that WE are the economy. And while the Federal Government, Wall Street, and the Big Banks clean up their act, it will be up to all of us, the entrepreneurs and small business owners to innovate, expand, create jobs, and save jobs.

As I make my way around the valley and talk to companies across the country and around the world. I am seeing some incredible things. Small businesses and entrepreneurs are creating innovative products and services – the kinds that can pull us out of this economy the old fashioned way – with American spirit and entrepreneurial ingenuity.

Here are just a few:

[youtube=http://www.youtube.com/watch?v=jDNW7GzWNXA]

  • Imagine a Convenience Store open 24-7 that has when you need but is totally automated. This video shows the first one in the US. Now there are three and soon to be more. Check out Shop24 and be sure to view the video press releases. This cool technology may be coming to a corner near you some time soon!
  • How about having a guardian angel looking over your company or property with video surveillance and live reporting. That’s what Iveda Solutions is doing. Click their link and see what this cool Arizona company is up to.
  • GangPlank in Chandler in Chandler has created an incredible environment where entrepreneurs can gather for learning, support, and even locate their new business.

So don’t let all the doomsday news from The Economy keep you from being innovative, reaching out, working with others, and continuing to build up Your Economy. The opportunities are out there!

Change is what we make it.

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Are you ready for Change?  2009 will be full of it.  From politicians, to business owners…  from consumers to sellers – January 2009 brings a who new year filled with opportunities.

Now is the time to take stock of what you have to work with, lay some plans, and get energized for the change you will make in 2009.  Don’t let all the negative media steal your energy.  Make your changes positive – act on your plans – find new resources – make a difference in your business, your community, your life.

Working together anything is possible and opportunites will be what we make them.