Are you walking the walk? If you refer back a few blogs to the Passion Conspiracy, you will see our take on all this passion talk.  We love the feeling of ‘passion’; we just think the word is a bit overused and how it is used is not always well thought out – especially in the business sense.   Right now we are truly passionate about roof top gardens: we just don’t think that we have to turn that into a business. The other big talk is about core values.  And we believe in them!  Articulating them may help – sometimes they are implied as they are so obviously part of your DNA.  As an example, Mother Theresa probably did not have to going around saying compassion was her core value, it was implicit. The interesting thing about core values is remembering to use them as filters for your decision-making. You know your core values are more than just words on paper (or hype) when you make hard decisions by them.  Stuff theat means you don’t necessarily come out winning on first blush (but in the end you will feel at peace). A few tips for core values: 1.   Name 3-5 (we like 3) — For the record, you may have 30 values that you believe in, but only 3-5 are really CORE to who you are 2.   Make sure they are short and snappy 3.    You should be able to recite them – not have to look them up to remember them! Be careful when using your company’s core values or your own to judge others – Core values are about you deciding what is important for YOU and making decisions accordingly.

Are you walking the walk?

If you refer back a few blogs to the Passion Conspiracy, you will see our take on all this passion talk.  We love the feeling of ‘passion’; we just think the word is a bit overused and how it is used is not always well thought out – especially in the business sense.   Right now we are truly passionate about roof top gardens: we just don’t think that we have to turn that into a business.

The other big talk is about core values.  And we believe in them!  Articulating them may help – sometimes they are implied as they are so obviously part of your DNA.  As an example, Mother Theresa probably did not have to going around saying compassion was her core value, it was implicit.

The interesting thing about core values is remembering to use them as filters for your decision-making.

You know your core values are more than just words on paper (or hype) when you make hard decisions by them.  Stuff theat means you don’t necessarily come out winning on first blush (but in the end you will feel at peace).

A few tips for core values:

1.   Name 3-5 (we like 3) — For the record, you may have 30 values that you believe in, but only 3-5 are really CORE to who you are

2.   Make sure they are short and snappy

3.    You should be able to recite them – not have to look them up to remember them!

Be careful when using your company’s core values or your own to judge others – Core values are about you deciding what is important for YOU and making decisions accordingly.

Gettin’ schooled. Our buddy Taylor (@DestroyNormal) asked us a wild question a few months ago: “You guys want to build a school in Kenya in three hours?” Obviously the answer was YES.   The math was exciting: 33 people giving $3.33 for 3 months equaled $10,000.  So we made a heap of personalized videos and sent them to our 33 friends (see the vid link below).   Three hours of work raised 10k. Insane. A few things made this campaign successful: Our proximity to our donor-friends and the personalization of the “ask”, the awesome EXPERIENCE of giving thanks to Taylor’s great donation interface, and the horsepower of social media to celebrate and vibe up the event.  Thanks again, Taylor.  And if you’re reading and you’re inspired — sign up a few bucks a day. Instead of 90 days worth of lattes, you could build a school. Welcome to the future of fundraising… http://pocketchangeheroes.com/valandjudy/?page_id=708&narration=valandjudy-narration-outro

Gettin’ schooled.

Our buddy Taylor (@DestroyNormal) asked us a wild question a few months ago: “You guys want to build a school in Kenya in three hours?” Obviously the answer was YES.  

The math was exciting: 33 people giving $3.33 for 3 months equaled $10,000.  So we made a heap of personalized videos and sent them to our 33 friends (see the vid link below). 
 

Three hours of work raised 10k. Insane. A few things made this campaign successful: Our proximity to our donor-friends and the personalization of the “ask”, the awesome EXPERIENCE of giving thanks to Taylor’s great donation interface, and the horsepower of social media to celebrate and vibe up the event.  Thanks again, Taylor. 

And if you’re reading and you’re inspired — sign up a few bucks a day. Instead of 90 days worth of lattes, you could build a school.

Welcome to the future of fundraising…

http://pocketchangeheroes.com/valandjudy/?page_id=708&narration=valandjudy-narration-outro

Have You Weighed Yourself Lately? It might be time to muscle up with metrics.  What gets measured doesn’t just get managed — it improves.  Think about standing on a scale each morning. So what are a metrics?  They are quantitative and might be different for every business.  The metrics for a consulting company could be vastly different when compared against an organization whose exit relies heavily on its brand equity. Metrics should align against growth goals and be a part of your daily vocabulary with your team. Here’s a list of possible metrics.  We imagined some service based businesses when thinking about these metrics: 1. Twitter followers 2. Unique web hits 3. Media hits 4. Gross revenue 5. Repeat clients 6. Percentage payroll (ie: payroll as a percentage of gross revenue) 7. Number of appointments booked or daily foot traffic through store 8. Product sales as a precentage of gross revenue 9. Signed COSs (Confirmation Of Services) 10. Number of NEW clients 11. NPI (Net Promoter Index) score Metrics are something you use as an analytical tool to see how you’re doing and that you measure against an end goal.  Make sure the metrics you are using are worthy of measuring and relate directly to what you’re trying to achieve. An example of an irrelevant metric might be table-turnover/hour in a fine dining restaurant where clients are encouraged to take their time (…and coif exorbitantly priced bottles of wine) — it could be an excellent metric for a chain restaurant. It’s important to benchmark your metrics and compare period to period, say month over month (MOM). They give you a snapshot of your business and tell you what is happening. Metrics get geeky-fun when you ask yourself: “What else can I assume by my metrics?” They will lead you to ask other questions about your business.  Always go into meetings with relevant metrics and use them to define not defend — having a vocabulary that includes metrics stops unproductive conversations about preceptions because it forces you to talk about what’s REALLY happening. You can argue feelings, but as a general rule you can’t argue numbers.  Metrics rule.

Have You Weighed Yourself Lately?

It might be time to muscle up with metrics.  What gets measured doesn’t just get managed — it improves.  Think about standing on a scale each morning.

So what are a metrics?  They are quantitative and might be different for every business.  The metrics for a consulting company could be vastly different when compared against an organization whose exit relies heavily on its brand equity. Metrics should align against growth goals and be a part of your daily vocabulary with your team.

Here’s a list of possible metrics.  We imagined some service based businesses when thinking about these metrics:

1. Twitter followers

2. Unique web hits

3. Media hits

4. Gross revenue

5. Repeat clients

6. Percentage payroll (ie: payroll as a percentage of gross revenue)

7. Number of appointments booked or daily foot traffic through store

8. Product sales as a precentage of gross revenue

9. Signed COSs (Confirmation Of Services)

10. Number of NEW clients

11. NPI (Net Promoter Index) score

Metrics are something you use as an analytical tool to see how you’re doing and that you measure against an end goal.  Make sure the metrics you are using are worthy of measuring and relate directly to what you’re trying to achieve. An example of an irrelevant metric might be table-turnover/hour in a fine dining restaurant where clients are encouraged to take their time (…and coif exorbitantly priced bottles of wine) — it could be an excellent metric for a chain restaurant.

It’s important to benchmark your metrics and compare period to period, say month over month (MOM). They give you a snapshot of your business and tell you what is happening.

Metrics get geeky-fun when you ask yourself: “What else can I assume by my metrics?” They will lead you to ask other questions about your business.  Always go into meetings with relevant metrics and use them to define not defend — having a vocabulary that includes metrics stops unproductive conversations about preceptions because it forces you to talk about what’s REALLY happening.

You can argue feelings, but as a general rule you can’t argue numbers.  Metrics rule.

The passion conspiracy. Whoever said “do what you love, and you’ll never work a day in your life” obviously never had a job. We love what we do — but for goodness’ sake — it can feel like work. But here’s the insight: that’s okay.  There is nobility in work (hard, hard work). But passion lies, perhaps, in the accomplishment — and it may only appear in glimpses. Folks that preach 24/7 passion may well have found some transcendent sweet spot, but they are few and far between. Often these people are referring to the ULTIMATE feeling not the process (or the heavy lifting it took to get to that place).  It’s much like being in a relationship: over the course of 30 years “passion” transmutes (hopefully) into commitment, trust, respect — the much finer vintage of the passion you started with in the beginning.  At any given time in the 30 years, however, the person you thought was cute and sexy on day one will undoubtedly appear ugly and annoying for a morning, or a month, or a year.  It’s the ground you cover together that will become meaningful and the “green grass” you were looking for all along.  Try using these words to gauge your experience, both in work and life: satisfying, fulfilling and worthwhile.  Perhaps also ask yourself: are you BRINGING passion to what you do?  And resist measuring in the context of a minute, but rather over weeks, months and years. Enjoy the video, it’s one of our faves.

business advisory boards (aka: dream-team result-machines)

Unlike a Board of Directors, a Business Advisory Board (BAB) doesn’t have any authority over company management, doesn’t formally vote on company issues, nor does it have any legal liability concerning company actions.  That doesn’t mean they aren’t a brilliant idea, however.

Why might you recruit one? To keep you accountable to your strategy, decisions and execution.  A BAB is excellent if you’re looking at succession, exit planning or growth. It also shows you’re serious about your business because it forces you to articulate and follow through on your goals to a group of savvy individuals outside your business. 

Quick fact: Emerging companies operating with a board have a 90% chance of success versus only 20% of those operating without one. (Source: Directors and Boards 2005)

9 Tips For Nailing a BAB:

1. Business not as usual

Define the purpose of your BAB and the expertise and knowledge you will need.

2. Don’t try this at home

Know when you are ready (or not) to start a BAB.  When you have a clear vision for the future and you’re prepared for strategic growth, you’re there.

3. Great expectations

Be clear on what you should expect from your BAB — How long do meetings run, how often, the term? Etc.

4. Greater expectations

Be clear on what your BAB should expect from you.  Come to meetings with specific metrics, clear briefs and an agenda.  Any relevant info should be distributed in advance.  

5. Orderly conduct

Establish formal meeting procedures with a Chair and In Camera sessions as necessary.

6. Leverage is not a dirty word

Maximize the value you get from your BAB.  For a BAB to give you the most value, they have to have as much info as possible from day one.  Stay in touch, send out regular and comprehensive (but not cumbersome) updates.  Let members know about seminal updates as they unfold so they don’t feel dumb as they support you in the community, ie: Are you getting sued? Did you just get featured in the Globe & Mail?

7. Times are changing

Evaluate and re-evaluate the performance of your BAB, how they fit into your ongoing strategy and how you’re serving them.

8. Go green

Consider how you will reimburse your BAB.  This could be cash, shares, in-kind or a nice meal every time you meet.

9. If it ain’t fun, get outta there

Despite the formalities, it should still be fun