The Gilman Company Blog

What you have

Can you create an epic Academy Award winner with a point-and-shoot camera. Probably not, but if you're talented, patient and determined, you can probably create video that is compelling or at least interesting and you may be able to monetize it. If all you have is a point-and-shoot camera, you're first order shouldn't be to film an Academy Award winner.

Some of the most interesting stories I've heard about knowing what you have are the ones where someone starts trading something small and ends up with something big. Using Craigslist, a guy trades a paper clip for a ball point pen, trades the pen for an old baseball, the baseball for chair, etc. He trades, each time increasing the value of the trade and eventually, after hundreds of trades, he has something valuable enough to trade for a house. If this same guy goes down a residential street, finds a for sale sign and asks the owner if they would like to trade the house for a paperclip, he's not going to have any luck, but instead he thinks about how to leverage the paperclip first.

In business and life in general, it's important to understand what you can reasonably do with the resources you have. Talent, finance, geography, time...these are all considerations.

The idea of knowing what you have and proceeding accordingly isn't a dream killer. Instead, it's a practical dream activator.The fact that you only have a point-and-shoot camera doesn't mean you shouldn't focus on winning an Academy Award. That fact just tells you where to start and where not to start.

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When managers run companies

If you've ever been caught scratching your head, wondering why your company is stuck, why it won't grow, why it can't take that next big step, it might be because you have a "manager" running your company.

Managers, generally, are masters of operations. They are critical to the success of any company. They do a great job of making sure the boat stays above water, that the doors get opened and closed every day and they're great at putting out small fires.

On the other hand, when a manager runs a company, you can't expect "officer" level benefits. Officers play a different role. CEOs, CFOs, CMOs, etc. These folks are not managers and they solve a different category of problems in a company.

In small companies, the challenge is often to wear both hats. Companies that make it to the heights of success have had at least one individual, at one time, that could wear both hats perfectly, who have perfected both rolls, a person who understands corporate structure, integrated business models, cohesive branding, etc., while they also understand day-to-day operations, are passionate about products, love to tinker, can manage people, lead small groups and put out small fires.

A company that is run by a manager will only get so far before it gets stuck. A company that is run by an officer type, without a manager or managers will get no where, because that company is not on the ground. If the objective of a company is to be as successful as it can be, regardless of what the titles might be, every successful company needs someone to fill each of these roles.

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How to Make it Better vs. How to Make it

Rethinking an existing system, product or process from the ground up can be especially enlightening if this product or system has been in place for some time. Rather than trying to to discover a way or ways to make something better, complete an exercise in developing that same thing from the ground up based on current technology or the latest innovations.

What's the point? Technology and innovation move quickly. Chances are, an "old faithful" system or product could have been drastically improved upon a long time ago. By letting a product or system go without innovation, you could be dealing with a substantial amount of easily achieved and unrealized value. Also, a commitment to innovation will mean your transition to improving systems, products or processes will be less disruptive to your enterprise.

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What is a Decision?

When the phone rings in your sales call center, do you make a decision to answer it? The correct answer, usually, is "no." The answer is "no" because some things in business that have to be addressed can and should only be addressed in only one way...if you want to maximize your chances of success in business.

When a basketball player turns over a play and he's running toward the goal without a single defensive player from the other team in site, does he make a decision to do a layup or try for a three pointer? No. There are some things in basketball that can and should be addressed in only one way...if you want to maximize your chances of success in basketball.

Generally, there is only one set of circumstances where a decision to pick up the phone in a your sales call center is made. Generally, there is also only one set of circumstances where a basketball player running toward the goal unchallenged will make a decision between a layup and a slam dunk. In both cases, the individual who turns this one way only situation into a decision making opportunity doesn't know what to do.

These "one way only" cases that are converted into a decision making opportunity happen a lot with technology based projects, sometimes because of a communication gap or deficiency between the people who know what to do and the people who don't. Sometimes it happens because an ego takes precedent over maximizing the chances of success. The same problem arises in marketing, logistics, accounting, PR, etc., etc.

Bonus Tip: Figure out who it is that know and who doesn't know.

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Passion vs. Desperation: $100K/year

I learned something from someone who approached me at a department store recently. Waiting on a friend, I was browsing a selection of watches. He asked me about watches, then asked me about the one I was wearing. Not a bad way to engage conversation. He made it about me. Eventually, he changed gears quickly and asked me if I would like to make an additional $100K every year. Bonanza!

My response, taking a few long strides forward: "I'm not particularly interested in non-traditional business models," which is not entirely true. "What do you mean," he asked.

"You just walked up to me in a department store, we had a brief and friendly exchange of thoughts on watches, then you asked me if I wanted to make an additional $100K a year. If you're pitching a traditional business model to me, standing next to the watch counter, I'll hand over my wallet now." Then this precocious entrepreneur said what led to this post: "You're right, I'm really looking for people who are more passionate and enthusiastic about doing business." This, as he walked away.

The title of this post says it all. Otherwise, this guy's approach was great. He had me engaged in a conversation and I was open to discussion. He had already won 90% of the battle. Clearly, however, he was looking for low hanging fruit (in an economy where there's not much of that). Another observation: he may have been standing in front of the best business opportunity that he's ever had, but he was short sited. Engaging through intrepid cold pitching without batting an lash may not be the best approach. Finally, with low hanging fruit at the core of your business model, opportunities to realize greatness are very close, yet so very far.

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Forums Rule! Content and Product Providers Scratch Their Heads

Whether it's the music industry, book publishers, or product manufacturing, it's the forums and sales channels that are getting the best deal it seems. Google, iTunes, Walmart, Amazon, eBay, etc., just to name a few larger companies that have effectively leveraged the value of content and products produced by other companies or people.

Sure, nothing new about the chain in getting a product from a factory, a rock band or an author into the hands of a consumer, but this blogger will have to opine that the folks who are focused on working directly with customers, not producing products are getting better and better at taking a bigger slice of the pie.

Here, there seems to be a few significant factors in this balance. First, the companies that are converting the sales have a better grasp on technology and they're turning the screws on the major product and content brands. Next, the folks who control the sales channels have done a better job expanding markets and giving customers what they want.

Critics thought that the folks over at Walmart were crazy, because Walmart wanted to open giant mega stores in small towns. We've seen how that idea has worked out with about 1 in 7 dollars in the U.S. being spent at Walmart. Now Walmart will be focusing on bigger brands, reducing their margin comfort levels. Over at Apple, iTunes has effectively determined how much music will cost, leaving little choice to record lables. Amazon has book publishers on in sight at the moment witht the Kindle.

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Hardcore Post: Change Everything

Want to be more than a contender? What will change everything in your industry? Do that.

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Hardcore Post: Completing Tasks vs. Creating

In your lifelong efforts to control your days, rather than letting them control you, consider dividing your time based on the following model:

1. Completing Tasks
2. Creating

Whether your the CEO of a Fortune 500 company with an army of staff at your disposal or scraping along with your first start up, a certain amount of your day will be dedicated to completing tasks. It has to be done. No way around it. Responding to email, moving projects along, phone calls, daily, weekly or monthly activities, etc.

The problem is, it's easier than pie to be utterly consumed with the "tasks" part of your day, completely ignoring the the value that being creative can bring to your company. If you can wrap your head around what distinguishes creative work and task oriented work, think about focusing a certain amount of time each day, or at least each week, to being entirely creative.

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Hardcore Post: Chance Meetings With Strangers...

There are chance meetings with strangers that interest us from the first moment, before a word is spoken.
Fyodor Dostoevsky - Crime and Punishment

Every so often, you meet someone like this in business. You can't be sure what it is, but something clicks. You don't know why it happens because sometimes it happens with people who don't appear to be viable business partners, associates or customers. Either way, in business that unique click could be worth more than associating with someone who seems to be a more practical resource.

How often do you move forward on a practical business approach when the personal relationships are strained? Imagine moving on a unique approach where the personal relationships couldn't be better. If you're determined to explore that unique initial interest or connection, you just might discover a substantial amount of value or, at the minimum, a new way to think about your operations, strategy or personal outlook.

About Hardcore Posts.

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About "Hardcore Posts"

"Hardcore Posts" are not your ordinary TGC blog posts. They're not about news and they're not about practical business tips that you can put into practice to enhance your operations, marketing, sales, etc. So, what are "Hardcore Posts"?

Hardcore Posts are food for business thought. They'll challenge you to think differently about what you're doing, about the way your leading, about the way you relate to associates and about the way your moving your business toward more prosperity.

Skip them if your here for practical operations tips or ideas. Worship at the alter of Hardcore Posts if you're a visionary.

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