Tag Archives: managing

The One Mistake You Can’t Make

It’s inevitable that we make mistakes in business.  I agree with Peter DruckerPeople who don’t take risks generally make about two big mistakes a year. People who do take risks generally make about two big mistakes a year. Since the mistakes are going to happen, let’s push the envelope and move the enterprise forward.

But there is one mistake I don’t think you can make and we’re seeing it in action over the last few days. Continue reading

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Filed under Consulting, Helpful Hints, Reality checks

The Inventory

Anyone remember Fairfax Cone?  His name used to be on the door at Foote, Cone, and Belding, now DraftFCB.  I was thinking about what is probably his most famous quote:

“The inventory goes down the elevator every night.” Click here to keep reading!

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Filed under Consulting, Helpful Hints, Thinking Aloud

The Four Questions

Every Passover, someone at the table, generally the youngest, asks the Four Questions.  For me, these questions do a good job of putting the entire evening into perspective and make everything which follows them relevant to the overall purpose of the holiday.  They are meant to be asked from a child’s perspective (hence the youngest inquires), which is often a combination of innocence and ignorance – without preconception.

I thought of the role questions play while working with a client of mine.  We were reviewing a presentation we’re constructing to raise a funding round and the pitch felt too cluttered and unfocused.  So I asked my own version of the four questions:

  1. What is the problem we’re solving?
  2. Is this a big enough problem that it can support a business that solves it?
  3. Is our solution unique and has anyone ever tried to solve this problem before?
  4. Who the hell are we and why should we be entrusted with anyone’s money?

You’ll notice I didn’t interject any mention of the client’s company or executive team until the end.  Like most things in business, I like to try and keep ego out of it.  Business is, at its core, about problems and solutions. It’s not about you – it’s about your customers (or potential customers).   Odds are if you can answer the four questions I’m asking above, and remain focused on them, your business will be on the right track.

Fortunately, we already had the answers although they were buried deep within the current version of the presentation.  A little editing and a lot of attention to some simple questions, and we’re a lot closer to some funding (we hope!).

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Filed under Consulting, Helpful Hints