Category: strategy

Brick walls

Posted on by Steve Sammartino

We were told that our business was a great idea. A super concept.

So we went for it.

Then we started work on the blue prints, and they looked great. Everyone said it was a sure thing.

   

So we built it.

 

Then once it was built everyone was in awe of how we took it from concept to reality. They told us we we’re sitting on a gold mine of potential, they starting asking us what life would be like when we made millions, if we’d still be their friends!

So we marketed it.

Then all new and potential customers loved it and told us how they’d buy it and tell everyone. sell it for us and keep coming back for more.

 

Then we realized there was a lot of brick walls between enthusiasm and reality. A lot of brick walls between a great idea, and that great idea becoming a great business.

There was a lot of brick walls. Walls which were hard to climb. Walls that almost ‘consumed us’ to the point of forgetting the easy, early days of enthusiasm.

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These walls are put here to test us. They are asking us if we really want it. They are in fact our best friend. They make climbing over hard, and keep the pretenders out. Those who don’t really want it (maybe competitors?)

We ought thank the walls.

Exercise your mind

Posted on by Steve Sammartino

Really fit people seem to be good at all sports. Really talented at all the physical things they try. They seem to eat what they like at restaurants and yet remain svelte. How?

Here’s the trick. They don’t just play tennis, swim or jog. They do it all and more. They participate in many and varied types of physical activity and sport. So they exercise their entire body. They develop new motor skills all while refining the base they already have. They stay fit and get fitter.

Our brains work the same way. It gets fitter, stronger and more flexible the more challenges we give it. To just read about business and entrepreneurship only builds certain parts of our mind. Occasionally we need to stretch it in other ways. Read something different, watch a nature documentary, undertake some craft activity, do some gardening, go bird watching. Anything.

When we do this the interconnecting synapses in our mind will develop. We’ll then better cross fertilize our ideas and experience. We’ll open up the space for new solutions….

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So please click out of this blog, and do something you’ve never done. Your mind will thank you for it.

Succession planning

Posted on by Steve Sammartino

Sadly Roc Kirby the founder of the Village Roadshow empire in Australia died last week. While reading an article in the Australian Financial Review the reporter mentioned how his kids had taken over the organization with great success. But we also were given another clue as to why.

As soon as his kids were old enough they worked the concession stands serving soda and popcorn and selling cinema tickets. Not in junior executive positions. They learnt the business bottom up.

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No amount of explaining spreadsheets, balance sheets, P & L statements, and public company boardroom battles can prepare someone for a running a business like working at ground level can. The real understanding of any business comes from being where the money is exchanged with actual customers. This is what builds the foundations for a deep understanding of what’s important in a business – operationally and strategically.

If you’ve got a business which is succeeding and you need to think of succession. Startup blog says – think bottom up, not top down.

Your school teacher was wrong

Posted on by Steve Sammartino

It’s not cheating, it’s collaborating

It’s Ok to draw outside the lines

Neat handwriting is not a pre-requisite

Touch typing is not a pre-requisite

You don’t have to all wear the same clothes

You can have a respectable job and wear jeans

Conforming does not necessarily lead to success

the ‘Soft’ – subjects are the most important

Talking is not evil, it’s the most important skill you ever learn at school

Having a contrary opinion is fine

You can have a future and be bad at maths

Being different is OK

Doodling on your paper is good for the mind

Daydreaming is fine

…add yours here….

School is vital to our learning. But just remember which bits to ignore.

Money follows ideas

Posted on by Steve Sammartino

Lacking the cash to commence a start up is a misnomer. There’s so much cash floating around western markets at present that the owners of this cash simply don’t know what to do with it.

All money in the world resides somewhere based on an idea. Let me explain:

Money in your wallet – based on the idea we’re going shopping, will need cash for lunch or maybe just for an emergency.

Money in the bank – based on the idea we’ll need it at a later date for something more significant and want to save it for this future transaction

Money in shares – based on the idea that this companies fortunes are improving and the money will grow and provide us with dividends and or a capital gain.

Money loaned to us – based on the idea that we can use this money to create something of bigger financial worth than the original loan and the cost of interest repayments.

All money follows an idea. Sometimes both parties profit. Sometimes one party profits, sometimes we all lose. But the thing which there is no doubt about, is the fact that money is out there for any idea, any time.   

If our start up is that idea we ought chase it and give that idea the money it deserves. The better the idea the greater the chance of accessing the money.