My wife is one of those effortless optimists who works the happiest from dawn till dusk.
ContentsBusiness lessons from a baby1. Cash flow is king. What the experts say:2. Seek stability. What the experts say:3. ABS:Always serve. What the experts say:4. Know your purpose. What the experts say:5. Slow. Down.What the experts say:6. Innovate.What the experts say:7. Take care of yourself. What the experts say:8. Build relationships. What the experts say:9. Essentialism. What the experts say:10. Future direction. What the experts say:So when I found her curled up in her bed on the third day in a row, the blinds down, I knew something was up. I'm quite a detective.
After we got married almost exactly a year ago (happy anniversary, L!), we decided to live in Mexico for six months. We had plans to start a family one day, so the adventure should happen now, or probably never.
We rented our house, bought a car and hit the road for an epic, child-free odyssey.
The upset stomach south of the border isn't exactly unusual, but when my wife's nausea continued for the second week, we hit the pharmacy for a pregnancy test.
There it was, clear as day:“Embarazada.” we were pregnant.
My dad likes to talk about how he quit smoking.
“Cold Turkey, the day I found out your mom was pregnant. »
I always thought it was a wire, but you dads know life changes as soon as you hear the news.
Luckily for me, the last six months have been a free MBA. Business and fatherhood share the same fundamental principles. Here's what I learned as a future father:
“Making more money won't solve your problems if cash flow management is your problem. —Robert Kiyosaki
One day you quit your job and move to Mexico; the next you watch your blueberry-sized child on the ultrasound monitor.
First, tears of joy! Then I thought, You can't raise a child on my business income.
You're a supplier now, dad!
Like many startups, mine was a feast or famine – some months the money flowed, others it dried up.
My family needed financial security. I traded adding features to my website to tell more customers. My quarterly earnings have increased sixfold.
Virgin Group has an annual revenue of $21 billion, but it nearly flopped in its early days when its bank refused to lend operating cash.
The near miss left a lasting impression on company founder Richard Branson.
“Never take your eyes off cash because it is the lifeblood of the business,” he says.
This actionable advice is backed by research. The US Small Business Administration says the number one reason businesses close is for declining sales/cash flow, so don't get caught up in your bank balance.
“If you've built castles in the air, your work needn't be wasted; that's where they should be. Now put the foundation under them. -Henry David Thoreau
After the cocktail of euphoria and terror ran out, we debated where to raise this kid. Mexico was absent – we needed great health care and family nearby.
We ditched our beachfront condo and began the 3,000 mile drive (like I said, an odyssey).
The desire for a stable home made me seek the same in my business. Increasing cash flow was the first step, but to make it consistent I would need to create reliable systems.
From the passenger seat in the mountains of Chiapas, I rebuilt my main funnel, automating the marketing emails I wrote ad hoc.
Michael Gerber argues for a system in his book, The Electronic Myth Revisited.
He says most businesses fail because they depend on people (where "people" usually means "founder"). To build a lasting legacy, transform your business into a set of systems or interchangeably, like a franchise.
The business world springs from flexible and agile companies. But what Columbia Business School professor Rita Gunther McGrath found in her study of 2,300 companies, stability was equally essential for sustainable businesses.
“Anyone who serves many is in the line of sight:great wealth, great return, great satisfaction, great reputation, and great joy.” – Jim Rohn
My best thought is behind the wheel, so two weeks on the road from Mexico gave me plenty of time to imagine how I would have my first child.
How could I teach him to be kind to others, to love learning? In short, how do I give my son or daughter the best start in life? How could I serve?
Until now, I had prioritized my desires:to get paid. There's nothing wrong with profit, but business titans agree it's a recipe for failure first.
Companies that offer the most profit value – they serve clients. I focused on creating awesome new content.
It took me 10 times my usual effort, but the reward was a doubling of website traffic and at least two high-value customers.
Bill Gates would approve of this message. His 1996 essay titled Content Is King argued that those who create great content will be the ones who succeed on the internet.
Brian Tracy calls the practice of serving others first the “law of reciprocity”:people are always trying to pay you back.
He applied the law consistently in his life and became one of the most successful self-help authors and mentors in history.
“It's not logic or facts but our hopes and dreams, our hearts and guts, that drive us to try new things . —Simon Sinek
Before the baby news, I had a clear vision for my life:complete control of my time, meaningful work, four vacations a year…true freedom.
I believed that sharp vision was the best motivator (and it IS powerful), but becoming responsible for another human took my momentum up a level.
My working hours infiltrated evenings and weekends.
The weird thing? I liked it. I'm the guy who preaches while working less, but I saw that I had a few months to swell the family coffers for my daughter (yeah, she's a girl!) and I wanted to go "all in" .
With a new ironclad “why”, business just got easier.
In Start With why , Simon Sinek teaches that successful companies need a purpose. If yours is lacking, drop everything and ask, “Why are we in business?”
The answer cannot be profit; companies with a service motive will encumber you.
Too many companies confuse their “why” with their “what”. They say, "We are in business to sell houses. “No you are not. Customers don't care what you do, they care Why You do.
In home building, that could mean, “We help our customers start families, take pride in homeownership, and build a nest. »
"The little things? The little moments? They are not small. —Jon Kabat-Zinn
As I settled into my new work ethic, I noticed a paradoxical desire to slow down.
A first child comes once in a lifetime. my my wife and I agreed to slow down, be present and enjoy this fleeting experience.
We've started using our dining table, instead of the Netflix 'n' coffee table every night.
If slowing down could improve my relationship, what could it do for my business?
Chasing customers, I sometimes send too many emails, ask for the sale too soon and post blog content that could be stronger.
Instead of producing four blog posts a month, I created a single 10x quality guide. The results were more than 10 times.
In a study of 343 companies, those that stopped to assess and strategize saw a 40% increase in sales and 52% increase in operating profits compared to full-speed companies.
>We know why, intuitively. Rushed goods companies fly over faster. In their race for a quick buck, they hurt overall profitability.
This understanding spawned a movement called “Slow Marketing”. Kayte Ferris, business coach, explains:
“It's about marketing ourselves and our business in a way that doesn't feel like we've sold our souls, it's about building trust, lasting brands. ”
Slow marketing puts human connection above “act now while supplies last!” and relationship building on ads for “Abs in 30″ days! »
“The definition of insanity is doing the same thing over and over again, but expecting different results. -Albert Einstein
my totally minor the change of life got me out of some ruts. Surprise Surprise.
I saw pregnancy as a perfect excuse to experiment fast in my business. I started a new 12 week writer coaching program which filled up fast. Other products are in preparation.
Innovation is Silicon Valley's favorite buzzword on Wall Street.
But entrepreneurs like you and me, we get caught up in the illusion that working in our business is the same as building our business. If you don't test new modes of operation at all times, you are missing an opportunity for growth.
Business moguls champion three interconnected schools of innovation:
Growth Piracy means quickly testing ideas, looking at results and adjusting. He argues that true innovation doesn't require long studies, focus groups, or fleshed out business cases.
Read Sprint and you'll see that a product can be launched and tested in five days – no expensive consultants required!
Design Thinking places the customer at the top of the organizational chart. It’s a process of asking, “What are our users’ pain points?”
This usually means users solving situations and watching them solve problems (it's less creepy than it sounds).
Lean Innovation is the religion in Silicon Valley – it's focused on creating better processes by integrating customer feedback early and often into the business.
You've now spotted the trend:Every method teaches that fast, early experimentation is critical to your business success.
“If you put off the process of immersing yourself in Source to take care of business first, your life will be spent in hours and days of work, then it will disappear. —David Deida
My wife's abstinence from alcohol made me wonder – could I quit too?
So I did (most). In four months, I drank only on rare occasions.
Why give up my favorite vice? Because I want to be there to see my daughter graduate and have her own children. I plan to live a long time, if only to annoy those in my will.
I started hitting the gym hard and my intake of green vegetables. I have more energy for my business; fewer “lost” mornings. my mood tracker app confirms that those wild ups and downs are a thing of the past.
In Essentialism , author Greg McKeown stresses the importance of getting enough sleep (and yes, I see the extreme hubris of a future dad promoting eight hours). He calls it “protects the asset”. To what extent:YOU are the most important asset of your business.
Sleep studies support Greg's advice:Research shows that fatigue devastates productivity, with less than six hours downtime creating a 19% drop in productivity.
Another study pegged the problem:$1,967 per employee per year. That's $63.2 billion a year in the United States alone. Do your bit for the economy - get more zzz's.
“Those who learned to collaborate and improvise most effectively prevailed.” -Charles Darwin
When I found out I was going to be a dad, I wanted to tell the world. Baristas and gas station attendants have heard the harrowing story of crossing the continent next to a woman suffering from morning sickness. I called on family and friends to share.
Reinvesting in my social network has created new opportunities and customers. I was reminded of the power of the telephone and face to face conversation.
Our brain rewards us for being social, not independent. When we spend time with our fellow human beings, we get a hit of two “happy” Hormones, Serotonin and Oxytocin.
Evolution wants us to be good Samaritans because groups that work together are stronger than lone wolves.
The same underlying programming is at work in today's business world:those who build good relationships prosper.
A study has shown that those who shake hands (the smallest of social gestures) before a negotiation are less likely to lie and come to an agreement faster.
When Shawn Achor studied 2,600 professional women, he found that the group that attended networking events doubled their chances of receiving a promotion!
Your business will thrive when you start having meaningful face-to-face conversations instead of relying on email.
“Learn to be indifferent to what makes no difference. —Marcus Aurelius
My wife and I have settled into our new home close to family. But to welcome new life into the world, we needed “spring cleaning,” not only in our physical spaces, but also in our psychic spaces.
A massive yard sale ensued and I let go of many so-called bonds.
In my business, I cut the fat from non-essential features and services. Now I accomplish more in less time.
Steve Jobs, riding Apple as a knight in polyester armor, cuts 70% of the company's product lines.
He drew four quadrants – in each, a product that would meet the needs of all customers. Profits soar, investors gush. The story is a legend.
The beauty of this strategy lies not in what Jobs chose to do, but what he chose not to do.
"The Essentialist deliberately singles out the vital few from the many trivial ones, eliminates the non-essentials," says Greg McKeown.
In business, this means applying the 80/20 rule. It states that 20% of our activities lead to 80% of our results.
Focus only on the essentials and your business will prosper.
“Where there is no vision, the people perish.” —Proverbs 29:18
It struck me today that my daughter will live into the next century. What will the year 2100 look like? It depends on you and me. We create the world with every daily action.
Can I tell my daughter across the way that my job is creating a better future?
Facing this question showed me the gap between where I am and where I want to be.
Too many of my business building hours are spent in the quagmire of my email inbox and tinkering with spreadsheets, disconnected from my mission.
Why bother looking to the future? Standing at the foot of the mountain, taking an hour to think about your vision instead of dealing with emergencies can feel like a luxury.
In fact, forward-looking is crucial to your success and, like opposable thumbs, sets humans apart from the rest of animals.
A 15-year study of 17,000 managers worldwide found that “future orientation” was positively correlated with a company's competitiveness. GDP per capita was also higher.
And within individual companies? Evidence shows that businesses that take the time to write a business plan grow 30% faster than those that don't.
Knowing this, my mission is now to reconnect with my vision and let it guide my daily efforts.
I never expected my daughter, still utero, to become my teacher. But orientation is found in the least likely places, if only you want to look.
Whether you're a parent or not, keep your cup empty. The breakthrough your business needs is right in front of you, and there are allies where you least expect them.
Do your children teach you things? I'd love to hear your stories in the comments below.
