Tag Archives: Entrepreneur

March 19, 2012

4 Ways To Motivate Team Members

By Chris LoCurto
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How do you motivate team members is always a question asked by good leaders. Leaders who care. The inverse of that is leaders who don’t care…don’t motivate. Their belief is team members get a paycheck, that should be motivation enough.

Having taught and coached thousands of leaders and entrepreneurs, I understand this line of thinking, but it will only get you the productivity the team member thinks they are getting paid for. It’s possible their opinion and yours differ.

At our EntreLeadership 1 Day event in Orlando, we answered some of the questions we received on Facebook. Unfortunately, we couldn’t get to all of them. Therefore I pulled one of the unanswered questions from Celeste Owens to discuss with you here:

I am a practice manager for a wonderful and generous employer! How do you keep employee’s motivated besides throwing more money at them? How do you get employee’s to realize how fortunate/blessed we are?

This is a great question with many answers. Here are just a few:

  • Recognition – The most important part of motivation is understanding that people will duplicate what they are rewarded for. If I see you genuinely complimenting me on something I’ve done well, I’ll keep doing it in hopes to get another compliment. And while telling me is amazing, recognizing me in front of my peers, or better yet my family, goes a very long way in motivating me.
  • Vision Casting – Team members need to be motivated with vision and direction. If I have no clue where I’m going, I get in a rut. As I begin to see that there’s something exciting on the horizon, I become more inspired to keep working towards it. This is an ongoing process, by the way. Recast vision every 21 days or the vision is dying.
  • Big Picture – It’s considerably easier for an entrepreneur to be more motivated than a team member. Entrepreneurs have the risk/reward thing going on of growing a business that belongs to them. Team members, not so much. One of the biggest motivators is working for something that is bigger than me. Don’t let a car mechanic think that all they do is turn a wrench. Let them know they have the opportunity to change the life of someone who is currently not happy. Make sure customer service reps understand how they are bettering lives by helping them with their problems.
  • Reminders – Some team members also need to be remind of just how good they have it. It is perfectly fine to share with the team what separates your company from the rest. However, if you do the other motivators correctly, they will come to realize how fortunate they are on their own. Understand that it is a process that will take some time, sooooo keep telling them until they get it.

These are just a few ways of getting and keeping team members motivated. Add to the mix the things that would have motivated you when you were in their shoes.

Question: What ways do you motivate your team besides just compensation?

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61 comments   |  tags: , , , , , , , , , | posted in EntreLeadership, Leadership, Small Business

January 31, 2012

Cordia Harrington’s Playbook For Success

By Chris LoCurto
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Today’s post is The Producer’s Point of View from our EntreLeadership Podcast producer Chris Mefford of my interview with Cordia Harrington.

Have you ever found yourself going through the motions, wishing someone would just define how to win at life, business or relationships? So many times in our lives, we’re told to be winners, be successful, be better, be something awesome. But no one ever says, “Here’s the recipe for winning, here’s how you do it.” This is possibly why so many of us fail to actually make our move to greatness.

One of the cool things I get to do every week, besides work with Chris LoCurto, is produce the EntreLeadership Podcast. I get to sit in the room and listen as some of the most successful, smartest and innovative business leaders in America explain how to win at life, business and relationships. They share their playbooks. As they speak, not only do I listen but I also write down their answers. I thought some of you might appreciate hearing a few of the highlights from these interviews.

Cordia Harrington

Yesterday, we talked with Cordia Harrington, CEO of the Tennessee Bun Company. Her business made more than $60 million last year.  She is easily one of my favorite leaders who we’ve interviewed.

Cordia’s story about the McDonald’s franchise she bought and how she took it from one of the worst to one of the top 50 is worth a listen. It’s both entertaining and amazing.  President George W. Bush said of her, “Risk-takers like Cordia create jobs and opportunities for their fellow citizens and show the world the power of the American dream.”

Here are just a few of the highlights on being a leader from Cordia:

  • We asked her about her mantra of “no is not an option!”  She was clear that “you must have the courage to be persistent and resourceful.”  I love this attitude. Often, as leaders, we can be persistent but not resourceful.  Thinking outside the box is as necessary as never giving up. To Cordia, they go hand in hand.
  • We also discussed some of the challenges that come with being a woman leader. Specifically, how do you handle dealing with male counterparts who have trouble giving a level of equality or respect in the conference room? Cordia said she learned to “be prepared, be the best and be prepared to be the best.” It can take time, but soon everyone will respect you and what you bring to the table.
  • When we asked her what types of things do you do to continually develop your leadership skills, she said exactly what many other leaders we’ve talked to say. “Surround yourself with sharp people and those willing to keep you straight and speak up and into your life. Read a book once a month with your leadership team.”
  • Cordia said the No. 1 key to being a successful leader is “coaching your team on how to solve problems, not simply doing it for them.”  She encourages her team to develop goals that are bigger than they think they can achieve.
  • Finally, when asked what advice she would give to a young leader getting started today—guidance she wished someone would have given to her—she had three points:
  1. Understand that problems are a training ground. You learn more from the trials you live through than any book you could read or class you take.
  2. Get involved with your peers. Working with your equals can help you grow faster.
  3. It truly is better to give than to receive.

And I think that’s a good way to start the new year. It truly is better to give than to receive.

Questions: How does Cordia’s story inspire you? What do you feel you can go out and accomplish? 

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44 comments   |  tags: , , , , , , , , , | posted in EntreLeadership, Leadership, Small Business

January 6, 2012

Are You Ready To Be An Entrepreneur?

By Chris LoCurto
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An entrepreneur is one who organizes, manages, and assumes the risks of a business or enterprise, according to Merriam-Webster. Sounds easy enough, right? Or … does it sound a little different than what you were thinking?

The funny thing is that I meet with a lot of entrepreneurs who discovered how to make a widget and sell it. They never realize, though, what comes with turning that widget into a full-fledged enterprise. It’s way more than just the widget. It’s all the behind-the-scenes stuff that makes the business work.

So to be an entrepreneur, you have to focus on three areas. OK, it’s way more than three areas, but let’s stick with the 30,000-foot view.

  • Organization – One of the biggest areas where I see entrepreneurs fail is the admin. You have to get on top of it and stay there. During EntreLeadership, I ask people to raise their hand if they love accounting. Without fail, less than 5% do. Why? Because entrepreneurs hate being bogged down in the numbers. Therefore, many of them fail. Accounting is one of the most important admin pieces of your business. But it doesn’t stop there. You have to focus on hiring and doing it well. Most entrepreneurs interview a handful of people, with a short amount of interviews, and then hire someone who ultimately doesn’t work out. And then, they can’t figure out why the person failed. Organization is key to winning!
  • Management – While an entrepreneur can start out alone, they usually don’t stay there. That’s when management comes into play. Even though that word gets a bum rap, it’s something that has to happen. I hear people say all the time, “I don’t want to manage, I want to lead.” Well, that’s great but practically impossible. You have to get into the day-to-day stuff and make sure that your operation is running correctly, team members are being led well and you’re getting information from all, yes ALL, levels in the company. We have a saying around here, “You can’t expect what you don’t inspect.” Hiring a team doesn’t mean you can take your hand off the steering wheel.
  • Assume Risk – It has been said that entrepreneurs can go from sheer exhilaration to sheer terror and back in the same 24 hours. It’s what separates entrepreneurs from leaders. It’s easy to lead when someone else is taking all the risk. You have to be willing to step out there and do some gut-wrenching things. You have to be willing to put some, not all, on the line to make your deal happen. Taking chances has to be part of your life going forward—even when others around you probably won’t have the stomach. Let me reiterate, never put it all on the line!

If you’ve ever thought about stepping out on your own and being your own boss, then you’re already on your way. Just don’t be one of those who fails from a lack of planning.

Question: What skills do you need to make your business work?

 

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35 comments   |  tags: , , , , , , , | posted in EntreLeadership, Leadership, Small Business

August 8, 2011

Wake Up Leader!

By Chris LoCurto
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Most of my blog posts on Leadership and Entrepreneurship come from two types of personal views: running a business and being a customer. Each time I teach EntreLeadership Master Series here in Nashville, I always stress the importance of walking through your own business as a customer.

I feel until you do, you don’t really understand what’s truly working and what’s not. You might be doing an amazing job selling your widget. But at the same time, you’re missing out on opportunities you didn’t know existed. The other day, we were eating in a burger joint in downtown Franklin, Tennessee, when one of the restaurant’s team members stopped by our table. She was really nice and wanted to see if there was anything we needed.

While she was there, she also informed us when they feature live music and recommended we come down and hear it sometime. We thought that was cool and asked her a few questions about how they are doing as a business. I was actually surprised the burger place wasn’t really busy. The team member said they had a great summer when traffic was high, but now people just weren’t coming their way.

She also told us her ideas on bringing customers to the restaurant. Now, this is a 17-year-old high school girl who is giving us great ideas on how to get sales into the store. Seventeen! And the concepts were really good. I asked if she had shared her thoughts with the owner. She had, but they weren’t up for it. You could see her frustration that they weren’t going after business. Instead, they were just sitting around waiting for things to happen.

OK, talking to us, the customers, about bad processes at the store technically goes against one of my pet peeves. In Stop Talking! I share how you shouldn’t discuss negative things about your business with customers. Sooooo, shame on her, and shame on us for asking. Now that’s out of the way, here’s the other pet peeve I have—LEADERS NOT LISTENING TO THEIR TEAM MEMBERS AND TAPPING INTO THEIR TALENT!

This girl not only wanted the company to succeed, but also had ideas of how to do it. Believe me, they would work.  (One was handing out coupons to people walking around downtown.) And all of them involved her doing the work. The crazy thing is she will be leaving for college soon, so she doesn’t have to care. But she does.

So why in the world is this owner not only not listening, but also not acting? I don’t know. But I can tell you from the tons of coaching sessions and thousands of conversations, I see this type of leadership all the time.

Don’t let your ego, pride, knowledge or whatever get in the way and stop your business from growing.  Be intentional and consistent about racking your team’s brainpower on what they think will help the business. After all, you hired them. If you didn’t think they were good enough for ideas, why are they there?

Question: Can you relate to this story from either the team member’s or leader’s point of view? It’s OK to be transparent.

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19 comments   |  tags: , , , , , , , , , | posted in EntreLeadership, Leadership, Small Business

July 29, 2011

7 Year Old Entrepreneur

By Chris LoCurto
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Recently I tacked a couple of days on the front-side of a trip to LA, to go back to my home in Lake Tahoe. It was a much-needed break, and a fabulous time of reflecting and relaxing.

On one of my many trips around the lake, I saw something out of the corner of my eye. Doing 40 miles an hour, I saw on a side street what appeared to be a lemonade stand. If you know me at all, you know that I am absolutely crazy about kids. And kids trying to make something of themselves, even more! A kid setting up a lemonade stand, when they could be playing Wii, there’s no way I’m passing this up!

So I had to find a place to turn around. I drove back slowly trying to figure out what street it was that caught my eye. And then, there she was. The cutest little entrepreneur I had ever seen. As I pulled over to park, I noticed that she was serving two bicyclist. In fact, she was sitting at the top of a hill where the street meets a bike path. Her dad was sitting on a log off to the side just watching.

As I walked up, she was finishing her “current transaction” with the bikers. As she handed them their items, she bit her bottom lip as if giddy that she had made another sale. You could tell it had been a good day. I said “Hi”, and asked her what her name was. “Charley!” she said. “That’s a beautiful name!” I said. “How do you spell it?” “C..H..A..R….L…….E.Y” Ok, I’ll admit it, I melted.

I told her that I would like two cookies and a lemonade. She peeled back the plastic wrap from the cookies and let me know that I could choose which two I would like. She started to pour my lemonade from her little glass jar with the press down spout. She then stopped, and her eyes got big as if she remembered something. “Would you like ice with that?” she asked. “No thanks.” I said. She continued to pour.

The total was $3.00, so I gave her $5.00 and told her to keep the rest. She didn’t get that, but then again, she’s seven, and adorable. Once again, she bit her bottom lip with satisfaction. I then walked over to her dad and told him that I teach entrepreneurs and leaders, and I write a blog on leadership, and could I write a post about her? He asked a couple of good dad questions, and they said yes.

I asked how she came up with the idea of doing a stand. This was actually her second time. The first time was when her parents were doing a garage sale and she thought that the people coming might want some lemonade and cookies. Come to find out, she was right. So she then asked her dad if she could do a stand at the top of the hill on their street where the bike path is. The reason for that location? Because she noticed that the bikers pedal to the top and are tired. I love it! seven Years old and she understands about location, location, location!

CLo – “What are you going to do with the money that you make?”

Char – “Wedding Build-A-Bear.”

CLo – “Nice! Anything else?”

Char – “Mmmmm…a car.”

CLo – “HAHA…that’s awesome! Did you make the cookies and lemonade?”

At this point she reaches down, grabs her foot in her flip-flop and pulls it to her back. Standing on one leg she bites her bottom lip, this time from thought process.

Char – “Mmmm…no. Mom made the cookies ’cause of the oven. I made the lemonade.”

CLo – “What else do you like to do when you’re not running a business?”

Char – “Ski….and inter-tube.”

CLo – “Well thank you Charley for taking the time to talk with me. I really appreciate it.”

Char – “You’re welcome.”

And then she shook my hand. OMG!!! I turned to her dad, shook his, and thanked him. He said: “The funny thing is that I have the boat on the lake ready to go, but I can’t get her to leave.” About that time, Charley picked up the sign and began to tilt it back and forth. “Oh yeah,” her dad said: “She put sticks on the backside of her sign so she could spin it like the guys on the corners.” That’s it, she is officially entrepreneur of the year in my book!

Question: Simple, how cute is she?!

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13 comments   |  tags: , , , , , , , , | posted in EntreLeadership, Leadership, Small Business

June 8, 2011

“I’ll Think About It”, and Other Exit Strategies

By Chris LoCurto
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(This is a great guest post from Jana Botkin. Jana is an incredible artist. Check out her work and her blog at CabinArt.net)

As an artist, I am particularly aware of the fact that luxury items are not in great demand these days.  Lately I’ve been ruminating upon how to turn conversations into actual jobs, an exercise that is even more important in a shaky economy.

What are some of the things that can send a potential customer back out the door empty-handed? If your business offers custom products, have you considered the intimidation factor? When someone walks through your door needing your product or service, chances are he is uncomfortable and maybe even a little embarrassed because he is unfamiliar with the process. A customer comes to me, let’s call him Bob. I want to help Bob, but if he feels like an idiot, chances are he will just go “think about it” rather than start the process. “Thinking” is polite-speak for, “Forget it. I changed my mind because I feel too stupid or overwhelmed.”

Putting someone at ease by being friendly is obvious, but have you considered teaching a bit of the lingo of your particular business? For example, as an artist, I often hear people use the word “consignment” when they really mean “commission.” If Bob says he wants me to do a “consignment” job for him, I feel pretty certain he isn’t asking me to sell something on his behalf. If I teach him what “commission” means in my business, he feels more confident discussing his idea. And if I’m lucky, he might do a bit of bragging to his friends about the artist he just commissioned!

After Bob gets comfortable with the lingo, it is important to establish some trust. Commission work is about more than just making a sale; it is a short-term business partnership. You have to be able to trust your partners! (Ooh, ever notice how people who say “trust me” are often the least trustworthy?) The best way to establish trust with Bob is to return his phone calls and emails. If I skip this part, I’m sending the message that I might also skip town with his deposit!

Clear communication on both our parts is vital, nay, it is everything. Do I know exactly what Bob is expecting of me? Does he know how the process works? Lucky for me, as an artist, I can draw him a picture! Can you clearly explain or even draw a picture of the process? (You can always hire me!)

Another way that you give your potential customer clues about your trustworthiness is your ability to find stuff – answers, papers, photos, records. If I am being a fumblety-mumblety (where is that thing?), Bob might decide I am too disorganized and may even wonder if I’ll misplace his job before finishing the work! Being a loser in the true sense of the word will not help your credibility. (Please don’t ask me how I know this.)

Have you ever wanted to buy a custom product but felt like an idiot about the process? What made you go home to “think about it”? Hit the comments below and let us know.

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11 comments   |  tags: , , , , , , , , , | posted in Leadership, Small Business

April 4, 2011

Wow You’re Big!

By Chris LoCurto
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The Census Bureau recently reported that over 98.3% of all businesses employ fewer than 100 people. Also important to know, 90% of all American businesses are family-owned or controlled, and they generate more than half of our annual gross national product. So small business is actually…big!

Sylvia Borken, at the family store, Knox Marke...

Image by Jewish Historical Society of the Upper Midwest via Flickr

In other words, big business isn’t running this country! But for some reason we tend to think it does. We see how much they screw things up, and we believe they are the ones in control. We believe if they don’t get their act together, this country will collapse. And while their mistakes can have a major impact, the truth is, small business runs more of America. It’s the mom and pop shops that are making it happen.

Small business has played a huge role in the success of our nation. In fact, most big businesses started out in someone’s garage somewhere. So if you’re a small business owner or leader, and you think you don’t matter in the grand scheme of things, think again. If you’re a person working at one of those mom and pops and you think what you do doesn’t impact the nation, you couldn’t be further from the truth. Just the mere act of participating in commerce has an effect.

It kinda changes the way you think about who can make change in America. Hahaha – and I don’t just mean at the cash register.

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1 comment   |  tags: , , , , | posted in EntreLeadership, Leadership, Small Business

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