Blog | Risk the Reward

5 Ways You Pursue Goals Like You Workout

February 26, 2013 By scott

Do you approach goals the same way you approach your workouts? If you are unstructured in a workout, does that show how unstructured you when faced with other stressors in life? The truth is, the same principles of working out your body can be directly applied to achieving goals. Here are the top-five similarities between the two.

1.You have to be future-oriented
Just the very concept of working out is based on the idea of working toward a preferred future. Regardless of your specific physical goals, when you exercise, you are doing it for the benefit of your future self.

This is a fundamental part of any goal-achieving activity. You don’t get from a bachelors to a PhD. overnight. When you are working toward something, you are applying effort in a future-oriented way. You’re putting in the work, today, to receive a benefit (new language, promotion, degree, money in the bank) tomorrow.

2. You can’t just look like someone who’s getting something done…
Have you ever seen that guy at the gym who just doesn’t seem to be giving it all he’s got? This guy is either watching TV or taking 10 min breaks. Really, he seems to be doing everything he can to look like he’s working out…without actually working out. These types of people are wasting their time and money (if they have a membership). If you want to get anywhere, physically, you have to use your time wisely by giving it all you got.

The same can be applied to our pursuits. We are only given today and a limited number of hours. And it’s how we use this precious time that our goals are achieved and lives are directed. If you put little effort in, you’ll get little effort out. It’s not enough to just show up to the gym and pick up a few weights. You need to train and push yourself toward becoming better, faster and stronger, regardless of how insignificant it may seem. Going all-in matters.

3. Be consistent
It happens every year. The gym is packed from January 2nd to January 31st. Come February, and it’s easy to tell that fewer and fewer people are going to the gym. Lots of people remain constant in their work out right up ‘till the time they reach their short-term goals. After they get those six pack abs, run that marathon or feel better about that cheese cake, they stop their routines and fall back into their old life patterns. Soon afterward, their muscles get a little smaller, they move a little slower and, in no time, they are back where they were, before they started exercising.

Life is more than attaining short-term goals. It’s about growing, moving and reaching new levels of achievement and understanding. You cannot make any meaningful progress if you are always fluctuating between acceptable and unacceptable. Yes, you’ll manage to live within acceptable levels, but you’ll never know what your body, mind and spirit were capable of.

4. Have a clear purpose
Key to any successful workout is being focused. There are so many different ways in which you can train: cardio or weight training…cross fit or push ups in your backyard….swimming or rock climbing. To get the most out of your workout (and workouts), having a purpose is essential. Otherwise, you’ll be expending a whole lot of energy and not going anywhere.

In life, we are faced with innumerable options. Defeatists would like you to think everyone is handed a set of cards and only those can be played...the die is cast and all that. The reality is that your goals are achievable. But, they are only achievable through focused effort. You want to become CEO of a Fortune 500 company? Okay, what are the steps that can get you there, and let’s start with step #1. It’s through this type of intense focus that man could land on the moon, the four minute mile could be broken and Kenny G could play the longest note ever played on a saxophone.

5. Push Past The “Wall”

Everyone hits the proverbial “wall.” It’s the moment during a workout where your body and mind try to get you to stop. It’s harder to breathe, your muscles are tightening and you start thinking that you won’t be able to make it one step further. While this moment can be intense and painful, it is also the moment when you get to decide how bad you want it.

How bad do you want it?

We all hit the wall. In the course of walking around, we all have moments that knocks the breath out of us. Lies fill our heads, trying to get us thinking in ways we know that aren’t true..

“Who am I to think I could do this.”
“It’s not in my genes.”
“Maybe it’s hard because I’m just not meant to do it.”

When those thoughts fill your head, get happy…really, really happy. Because, right now, Resistance is raising it’s ugly head and plotting to kill you. It knows what you are capable of and it wants to stop you at all costs. By pushing past this wall, you are fighting for your life and you are winning. It’s the getting past this moment..this wall… when you prove to yourself (and world) that you will accomplish what you set out to do, and nothing will hold you back. And it’s also the exact time you start to feel good. Endorphins are released and, suddenly, you start to feel better. You start to think, “I can do this!”

As you push on toward your goals, think about all the mental and physical effort it takes to to workout your body. It’s not just about lifting weights. It’s about moving towards a preferred future and doing so in a focused and consistent manner. You can reach your goals, but no one can do it for you. Just like no one can give you that awesome-bod. You have to earn it. So, go earn it, push past those walls and prove what you’re made of.

Filed Under: Being Resolute

What Your Decisions Are Revealing About Your Company’s Character

August 15, 2012 By scott

If pressure reveals character, then what is the pressure of the economy revealing about your business? We are all feeling it. The recessionary pressures are forcing everyone to make changes, face tough decisions and fight for every scrap of business. It’s hard, and everyone is asking “Who’s going to survive this?” The answer: The people who can withstand the pressure and stay true to their values.

Establish Commitment To Values Before Tough Times

Why are phrases like “for better or worse” commonly used during weddings? Because, somewhere during the course of a marriage, it’s almost guaranteed that the couple will face a time that is better or worse. It’s in the marriage’s best interest for both parties to acknowledge to the existence of, and agree to get through, good and bad times. This agreement is established at the beginning (technically before) a marriage, serving as a foundational part of their marital agreement. So that, when the pressures of the world rise against the couple, the character of the marriage will give them enough strength to weather the storm.

What You Said Then Is True Today

The same concept can be applied to our businesses. When times were good (remember the roaring 2007s), businesses couldn’t help but declare their love for their customers and lavish them with gifts. Much like it’s easy to be happy when you’re rich and healthy. But, as pressure mounts, character is revealed. You start to see what all those declarations of love and appreciation were founded upon. Were they sincere when they told you to sign up for their loyalty program, or were they wanting something else?

What Is Giving Less Communicating?

Think about it. Maybe you’ve been told all your life, by your mom and grandmother, that a certain type of detergant is the hands-down best. And, you should pay a preimium price because you’re going to get the best. So, all your life you’ve been buying that detergent. Then, one day you walk into the store and find that that beloved detergent, the one you’ve been loyal to all your life, is in a smaller box. How does that make you feel? If you continue with that brand, what does that say about the company?

This is just one example. The reality is, times are tough. Companies are having to make tough choices. The choices these companies make are a revelation of their character. Do they really appreciate their customers, or are they out to make a buck.

Build Trust By Giving Reasons To Trust

Make sure your company doesn’t get stuck being one of those guys. Always ask yourself, “Does this decision support what the commpany is about?” How you answer that question will make a lot of choices clear. Business, like marriage, is about building a strong relationship. Relationships are built on trust. Give them reasons to trust. Give them reasons to believe what you say. Get creative, be innovative, do something new…don’t give a smaller box. Because a smaller box, just like walking out on an argument, is the easy way out.

Filed Under: Being Resolute, Leadership, Small Business, Strategy Tagged With: customers, Strength, Values

Innovation At Work: Awesome Homemade IPad Stand

August 10, 2012 By scott

For the past few months, ever since I saw the thing, I’ve been wanting to blog about this. It’s a metal, pivoting and flipping IPad holder. I’ve never seen anything like this before. If you’re in the Portsmouth, Virginia area, check it out. It’s at Artisans Bakery and Café, on Washington Street.

We’ve all known that the brilliant people at Intuit had made an easy way to process transactions from the Ipad. But, the actual use of it has been demonstrated as being perfect for people on the move. So, when I saw this, I was immediately intrigued.

It’s a metal frame that’s secured to a countertop. The frame can swivel 360 degrees and flip. This allows for easy maneuvering between the cashier’s entering the transaction and the customer’s completing the transaction. The angle is also convenient for the customer to sign with their finger.

As for security, you can see that they had installed a locking mechanism at the top. This keeps the IPad in place without the fear of theft.

The owner told me that a family member, I think her dad, made this for her.

What can we learn from this?

This metal frame is more than an IPad holder. It’s innovation. The owner wanted to use Intuit’s program to her benefit. Instead of waiting for someone to tell her what she needed, she had an idea of what she wanted and created a way to make it happen. This is the essence of the entrepreneurial spirit.

I performed a brief search for IPad stands for business and found nothing like this. Someone get to working on this. It’s pretty cool.Hopefully I’ve taken the right amount of pictures for you to get the idea of what I’m talking about.

Here’s what I found:

DIY IPad Stands From Lifehacker.com

Apple’s IPad stands

Mashable’s 10 Best Apple IPad stands

Let me know your thoughts on our Google+ page.

Filed Under: Innovation, Small Business Tagged With: Artisans, Bakery, Cafe, DIY, Ideas, innovation, IPad, Retail, Stand

How To Plan Your Financial Reports

June 3, 2012 By scott

How often do you review your financials? Be honest…reviewing your financials, whether it be for a department, small business or 1,000-person firm, is critical to your success. And if you aren’t planning your financial reports and knowing what to do with them, you’re setting yourself up for embarrassment and ultimate failure.

The topics of financial finance, accounting and their applicable laws are too complex and lengthy to cover in a simple blog. But I hope, after reading this, you’ll be more interested and concerned with how you’re receiving financial reports and how they’re being used across your company.

First, Get A Professional:

My advice has always been that every organization needs to have a bookkeeper for their organization. I understand that not everyone can afford a full-time accountant. (If you can, good for you. You still need to read this part). If you’re strapped for cash, at the very least, you need to hire a very part time bookkeeper who will come into your business, do a few things and leave.

Tip: These people (part-time bookkeepers) are relatively easy to find. Many of them act as contract employees and have their own client list. They may seem a little high-priced for hourly work (mainly due to insurances and taxes they have to cover). But the savings and value they offer you, in terms of extra time and eliminating costly amature errors, is worth it.

Plan Your Reports:

Every business needs different types of information at particular times. So, I can’t define, exactly, what you need. But I can come close. One thing I know for sure is, you need to plan for how you are going to receive reports. These reports should be preplanned and in the format you prefer the most.

Side Note: You’d be surprised at what financial software can produce. If you don’t know exactly what you need, describe what you think you’ll need. An experienced bookkeeper should be able to give you just the right thing.

Weekly Reports:

These reports are what you use when you need to be nimble and make smart, fast decisions. It might help to think of a Knight, in the thick of battle, is in danger of being struck by an enemy. To survive, he needs to be able to react and block the coming blow. The same is with a weekly report. It is what you use to react to volatile forces in the market. That’s why it’s important to include measurements of things that are within your immediate control (like Accounts Receivable, Accounts Payable, Weekly Sales…).Don’t be blindsided when you could have stood your ground.

Monthly Reports:

Monthly reports are always a little trickier. By their nature, they are more strategic and should be used in planning bigger aspects of your business. You could use these reports to “tweak” a marking strategy, change suppliers or change a business process.

Quarterly Reports:

Quarterly reports make big news. They are the official score board of a company’s performance and usually mark the beginning of a new market cycle. Because of the breath of a quarterly report, they can be used in a variety of ways. However, I’m only going to suggest two.

First, Quarterly reports should be viewed as a historical data tool. You can use it to plan next year’s product line, market campaign and staffing levels.
Second, you should use it to measure how far you are from your goals. The gap can be so big that you start looking at your business in a different way. Decisions that focus on the bigger and more long-term goals of the company are usually made during the review of quarterly reports.

Yearly Reports:

Depending on how you look at it, yearly reports can be the time you celebrate or think of how things are “renewed” by the New Year. Yearly reports are a reflection of the decisions and decision makers of that year. It marks next phases, transitions, new visions and are usually used to motivate employees and vendors to change things up. Everything should be included in yearly reports. You need to get the entire picture here.

Final words on financial reporting:

With many small business owners, financial reporting is an emotionally disturbing experience. Even if the reports are good, they are still disturbing. That’s because financial reports bring you down to reality. It clearly, in black and white, lays everything out there. All the little areas you thought you were getting away with cannot be hidden…and it hurts.

The best tip to get you moving is to view these reports as tools you use to move into the future. They are not emotional attacks on your character…they are the periscope you use to get a look around and move forward. And the more time you spend looking through it, the better chance you have of navigating through these rough waters we call the modern market.

Filed Under: Finance, How To, Small Business, Strategy Tagged With: Finance, How To, small business, Strategy

Make Better Decisions By Diversifying Your Experiential Portfolio

March 1, 2012 By scott

I have a theory. Decisions are the end result of a groupings of experiences. When faced with a decision, we consider previous experiences, analyze their results and make the decision that will best suit our needs.

One of the oldest investing axioms is to diversify your investment portfolios. The basic thought is to protect your income by spreading your risk across several different companies, industries and/or currencies. Couldn’t this same strategy be used in our decision making processes?

Portfolios:

Here’s my case…

When a kid touches a hot surface for the first time, that experience is registered in their portfolio. Now, if they never have a surface-touch interaction again, that first experience carries 100% of the experiential weight. They will go through life, thinking all surfaces will be hot. As that same child touches more surfaces (hot, cold, rough, smooth), he/she grows their portfolio of experiences and increases their range of decision-making ability.

I’m calling this an “Experiential Portfolio.”Experiential portfolios are the groupings of experiences we use to make decisions.

Should We Be Intentional?

If you want to make good decisions, and you agree with my premise, wouldn’t it make sense to attach a high level of value to what you experience? And if that’s true, shouldn’t we be very intentional with what we experience? This type of thinking is very similar to smart investing. We need to choose the sectors of experience that have the most potential to yield the highest value.

If you want be a golfer, surround yourself with new golf experiences. Any one interaction won’t be enough to get to the pros (if that’s your goal); much like touching one surface can’t teach a child about all surfaces. But, combine years of golf-related experiences…then you have something.

I’m going to be thinking about this for a while. Any input into this idea would be welcomed. It may increase my own experiential portfolio. Send me an email or talk about it on my Google+ page.

Filed Under: Being Resolute, How To, Leadership Tagged With: Diversify, Experience, Ideas, improve

5 Ways To Not Create Value

January 31, 2012 By scott

The creation of value is a pretty topic. Value is a lot like beauty…it’s in the eye of the beholder.

I might think Twitter holds tremendous value, while you may not give a flippin’ tweet about it.

That’s fine… While we may not always agree as to what is valuable, there are absolute ways to NOT create value. Trust me. If you do these five things, you’ll be the antithesis of a value creator.

#1: Watch A Whole Lot Of TV:

We all like to be entertained. Sometimes work, school, kids and bills are so pressure-inducing that escaping to the world of #House, or #TheOffice, can be good for you (and everyone around you). But, we’re talking about CREATING value. When you’re consuming another person’s creation, without modifying it, you have no way of creating value.

#2: Have A Bunch Of Ideas and Zero Action:

Everyone likes the dopamine rush that comes from a new idea. And, when we have those ideas, we can’t wait to rush off and…talk about it. Being as fun as it is, talking about it just doesn’t carry as much weight as actually DOING something about it. And, just talking about something can be counter-value-creating. When you’re just talking about it, you’re wasting the time of the listener.

#3: Criticize Other People’s Attempts:

Words carry a lot of weight. And when you criticize, gossip or laugh at someone’s attempt to create value, you are spreading poison. You have released an idea-hitman into the streets. To an entrepreneur, you are a terrorist and your words have just become IEDs.

#4: Always Be Fearful:

Attempting something new is always scary. A sure-fire way of keeping new value at bay is to listen to your fear. Fear is a seductive emotion. Pay too much attention to it and it will lure you into intelligent paralysis. You’ll end up sitting on your butt, bragging about how smart you are.

#5: Give It One-Half Your Effort:

A great way to put a big stop on any type of value is to give less than 100%. People who create things get there by busting it. If you’re one of those people who won’t put all your effort into what you’re doing, you’re not going to produce value. Worse… You’ll probably produce a wake of half-complete jobs and a life of regret.

When you want to live a life of value-non-producing, do these things. They are 100% guaranteed to work. You will not get any closer to producing value, opportunity or innovations. If you can think of other ways to not produce value, let me know on twitter.

Filed Under: Being Resolute, How To Tagged With: business, entrepreneurship, Ideas, innovation, Lazy, Leadership, Negative, tv, Value

How To Protect Your Motivation

January 30, 2012 By scott

Motivation is key to getting things done. But what happens when we lose steam, hit a roadblock or lsoe track of time? This problem effects us all in more ways than one. And knowing how to get and keep motivated can mean the difference between being effective or being mediocre.

Understand yourself:

We are all different. That means we all have different things that capture our attention, inspire us and keeps us going. It’s important to begin by reflecting on what motivated you in the past. What was behind you accomplishing something that you thought was impossbiel? What made you take that risk? What fueled you when you wanted to give up? Answers to these questions will uncover your unique motivation “Sweet Spot.” Be creative, what works for some people may not work for you.

Use the morning to think:

Too many times we get through our day without processing. Our brains were made to register and recall what it has learned. It is impossible to do this basic function when we are hurrying through our day.

Use your mornings to reflect on what you’ve done and what you’d like to do. Gaining deeper levels of understanding will increase your ability to see situations for what they truly are. Use this time to find true insight into your life and gain a clearer picture of what is going on around you. You might have to wake a little earlier, but the results could be astounding.

Understand Contexts:

Your day is can be little minefields. One moment, you’re walking along, enjoying life, and the next, BOOM, you’re out for the count. Much of what life throws at you is unavoidable. But you can prepare yourself for inconsequentialdemotivators. Discipline your thoughts to identify contexts of situations and how each situation relates to you. Remind yourself of what’s really important and keep going. So when someone criticizes your idea, or mocks your performance, you can move forward.

Pick the BEST friends:

We all rise to the level of our piers. One of the best ways to protect your drive is to surround yourself with people who are doing, or have done, what you’ve set out to do. If you want to climb mountains, find as many seasoned mountain climbers as you can and be around them. If you want to make more money, find out where they spend their time and go there. You may hve to change social groups, join a club or something completely different. But the more you expose yourself to the people you want to be like, the more likely you’ll actually do it.

Get Sleep:

It’s basic. Be rested. You’re reaching outside of your area of comfort. When we are tired, we are more irritable and vulnerable to defeat. Protect your future success and get enough sleep.

Life is fluid. It always changes. What we think will happen, usually does. As you move with the flow, remain committed to what you know you should. Life is amazing. Live it while you can…the best way possible.

Filed Under: Being Resolute, How To, Leadership Tagged With: Being Resolute, How To, Leadership, Motivation

How To Say Thank You

January 27, 2012 By scott

A few weeks ago, I woke up and had a bright idea of emailing +Pandora to let them know of an idea I had. This idea was not fully thought out. I mean…AT ALL. And, I emailed them first thing in the morning. So, my brain wasn’t quite yet firing on all cylinders. Regardless, I had half a moment of inspiration and sent it anyway.

A couple hours later I got an email from them, thanking me for my thoughts. It started out just like every other auto-responder would. “Thank you for your email… blah..blah…blah.” But the message went on to tell me they’d like to send me something and asked if I liked hats or shirts.
I told them hats…
I hit send…
I didn’t think anything else about it…

A week later, a package came in the mail. It was a Pandora hat. How cool is that (how many people have Pandora hats)? Included with the hat was a signed letter and an invitation to write them any time. A pretty extravagant response for letting them in on a bad idea.
Let me remind you…my idea was not the best. Because I knew they weren’t thanking me for ingenious idea, they must be sending me this stuff for one reason alone. Their company takes customer interactions very seriously.

That’s it.

This has kept me thinking for a while. When a customer takes the time to interact with your company, that customer is giving you something very special…the chance to be invited into their life. Doesn’t it make sense to treat every interaction (I like to call them “touches”) as a prime opportunity to make a lasting impact? It’s obvious Pandora takes this very seriously. Shouldn’t your organization? Wouldn’t it be smart to have a preset way of thank customers who intentionally go out of their way to “touch” your company?

What would that look like for your company? Do you think it would make a difference?

Filed Under: How To, Marketing, Small Business, Strategy Tagged With: customers, Hat, How To, marketing, Music, Pandora, Strategy, Thank You

Be Accountable, Not Alone

January 25, 2012 By scott

To start the discussion on the importance of accountability, we must first consider its definition.

Accountability: an obligation or willingness to accept responsibility or to account for one’s actions

In today’s busy marketplace, it’s easy to get caught up in the “daily grind.” This means we can lose track of our actions and the effects they can, and do, have. For that reason, being held accountable is essential to prolonged and ethical performance.

A short story…

There was a contractor who did not require accountability from all employees. The “daily grind” mindset kept managers away from how details were being managed. They just trusted everyone would operate the way they know they needed.

This flimsy style of management continued operating in an accountability vacuum, until auditors, creditors and suppliers begin to call more frequently with problems. It later was revealed that the books were not being kept correctly and the company was in serious financial trouble. It took months of repair and hours of legal counsel for the company to be set straight. It will be years until the company sees gains as they had experienced years earlier.

What’s the real issue?

If you were to glance over this situation, you’d think their problems were the result of poor bookkeeping, or mismanagement of employees. But those are only symptoms of a much deeper problem. The reason why companies have these types of problems, usually, is a direct result of the absence of accountability.

It could have been avoided…

If we were to rewind the clock and establish clear lines of communication, reporting and authority, chances are, this particular company would not have fallen into such serious trouble. Establishing a culture of accountability can mean the difference between profit and bankruptcy. It’s not about exerting authority inappropriately. It’s about recognizing the importance of allowing the company to operate as smoothly and soundly as possible.

What about you?

Is your company operating with accountability? As you continue to lead your company, take a moment to examine how your employees and/or team members are held accountable for their actions. Is it easy to communicate, when there is a problem? Is performance being measured? Do your people understand what is expected of them? These questions seem simple enough. But for many organizations, they have not been considered. You may be leading one of those companies.

Where to start…

There are numerous financial, legal and logical reasons to establish accountability in your organization. But the main reason should be…because it’s the right thing to do. If you’re not sure where to start, begin with yourself. Referring back to the definition…you must be willing to accept responsibility and account for your actions. Once people see leadership holding themselves accountable, a culture of accountability will follow.

Filed Under: Leadership, Managing, Small Business Tagged With: Accountability, How To, Leadership, Managing

Moving Lessons: Overcome Fear With Knowledge

January 24, 2012 By scott

Recently, my wife and I have decided to move to Austin, Texas. This decision was not an easy one for us. In fact, it’s pretty scary, considering we’re downsizing to a one bedroom and we’re going to, temporarily, live on half of what we are used to.

Yes, these are big changes. Yes, the decision was hard. But, in making the decision there was an incredible learning experience, giving us insight that would not have been available to us. Not only was the experience filled with countless debates, numerous pro and con lists, several budget reworks, but it really forced us to examine our lives, our faith and personality.

It’s reasonable to assume that, at some point, we all have to make huge, life-changing decisions. But, we all know that those types of decisions will be few. Most of our lives will be filled with day-to-day work, savings and holidays. Because life-changing decisions are so novel, I think it might be of some value to someone to talk about a few of the realizations behind my decision to make a risky move.

We are all risk averse. It’s about context.

I’ve always considered myself to be someone who has no problems taking risks. I’d talk a good talk…that’s all…talk. But, as soon as I was faced with the decision to move or stay I became very, very risk averse. When everything is on the line, everyone gets a little fearful. If you have any chance to really take that next step, you have to get a new perspective.

As I was experiencing the fear, I knew it wasn’t right. I knew fear can be seductive and easy to live in, making people feel smart as they accept a less-than scenario. But, I just couldn’t shake it. It was too much. The fear began when I thought about income, housing, friends and all the things that I could lose. I’d focus on the potential loss so much that I couldn’t see any positive. I didn’t consider the market, long-term benefits or the idea that starting over could be more profitable. I just couldn’t see any other scenario where I didn’t loose everything. I was stuck at the horror floor.

It wasn’t until I began to gain a new situational context that I became more comfortable with the move. I put aside the potential loss aspect of everything, which isn’t reality, and began to find the facts and learn what was the true reality. I asked my friends, family and gained their opinion. I looked into different statistical measurements about the area and find where I might be able to make an impact in the community. I began to look at the move in a long-term context and how that might impact me personally and professionally. The more research I did the more it was apparent the move would be worth it. I realized that I wasn’t going to lose everything and end up under a bridge.

The more knowledge I gained, the more reality became more…real. I saw my fears for what they were..unreasonable. And the more I dug, the more I began to think, “Hey, this could work.”

In the end, I learned that fear really is paralyzing and can only be fought by knowledge. If you’re faced with the chance to jump at somthing, but can’t get past your own horror floor, get knowledge. Even if you end up not taking that chance, knowledge will let you know you’re making the right decision. Otherwise, you’re letting fear win.

Filed Under: Being Resolute, Leadership, Small Business Tagged With: Being Resolute, Fear, Leadership, Lessons