How to Capitalize on Outlier Opportunities

How to Capitalize on Outlier Opportunities

In a world that often feels like it’s on repeat, the allure of outliers—the unexpected, the overlooked, the underappreciated—beckons with the promise of untold rewards and opportunities. We tend to underestimate those who dare to look beyond the horizon of the familiar and the safe. Yet, amidst the constant hum of change, volatility, and disruption shaping our modern landscape, many of us find ourselves clinging to the comfort of the predictable. This, however, is precisely where we might be missing out on monumental growth opportunities.

Trailblazers of the Uncharted Path

Consider the luminaries who’ve left indelible marks on the canvas of history: Steve Jobs, who was ousted from his own company only to return and redefine the technology landscape; Thomas Edison, whose relentless experimentation illuminated the world; Stephen Spielberg, whose initial college rejections did not deter him from becoming a cinematic titan; Bill Gates and Mark Zuckerberg, whose college dropout status did not prevent them from building empires. Their journeys underscore a pivotal insight: greatness often emerges from the outliers, from the willingness to embrace risk, to venture where intuition leads, even when it diverges from the well-trodden path. Seek outlier opportunities.

Capitalizing on the Edges of Expectation

embrace the outlier edge

The realm of outliers is not just about the people; it’s also about seizing on phenomena, trends, and opportunities that lie at the edges of our expectations. Like umbrella vendors who materialize at the first hint of rain, those who prepare to capitalize on these outlying events are the ones who often reap outsized rewards. Major corporations like Home Depot, The Red Cross, and Walmart exemplify this approach, developing contingency plans for unforeseen weather events, thereby not just mitigating risks but also turning potential crises into opportunities.

Harnessing Demographic Transitions 

The most evident way to pursue outliers is to capitalize on emerging trends. One such fertile ground for outlier opportunities is the aging population. As we stand on the cusp of a demographic shift, with a significant portion of the global population moving into retirement, the potential for innovation in services designed to enrich the lives of the elderly is vast. From enhancing mental and social engagement to addressing the specific healthcare needs of this demographic, the aging population presents a panorama of possibilities waiting to be explored and cultivated.

Innovating the Financial Norms

Head in the sand?  Look for better opportunities

The financial landscape is also ripe for outlier strategies. Traditional investment advice, like the 60-40 stocks-to-bonds ratio, is being challenged by the stark variances in returns, particularly highlighted by the tech sector’s explosive growth. These divergences signal a need for more nuanced, dynamic investment approaches that can adapt to the ever-evolving market trends.

Mastering Disaster with Cooperation

We need to recognize that volatility and change should be viewed as landscapes brimming with potential. Companies that have learned to navigate and even thrive in the face of disasters—be it Home Depot with hurricanes or schools enhancing safety protocols—demonstrate that with preparation and adaptability, challenges can be transformed into lucrative ventures. One major improvement is the cooperation rather than friction among agencies in dealing with disasters. For instance, Governor Hochul of New York even promotes that New York is the “Master of Disaster”.

Anomalies and Untapped Potential

Outlier opportunities also occur from anomalies that just occur. Consider the legal industry transformation led by firms like Skadden Arps and Wachtel Lipton, which, in the face of discrimination, carved out new niches in litigation and corporate takeovers, reshaping the legal landscape. Similarly, dealing with poor facilities, limited coaching and recruiting, and weak marketing all kept women’s sports in the background. Powered by exceptional talents like Caitlin Clark, women’s sports growing recognition points to the vast potential in markets and domains that have been historically undervalued or ignored.

Shifting Academic and Economic Landscapes

Other anomalies providing huge opportunities are the switches in college education from a focus on liberal arts to more employment-related majors. In particular, computer programming, design, engineering, and computer science are rapidly expanding while language, philosophy, and other traditional liberal arts majors are declining. In addition, schools like the U. of Illinois, Northeastern, Johns Hopkins, and Carnegie Melon are expanding, becoming more select and graduates are earning higher earnings.

Immigration as Economic Catalyst

While immigration has become a major political issue, it is more importantly a critical economic opportunity, and it presents yet another dimension where the narrative of challenge versus opportunity plays out. With economies grappling with labor shortages, the infusion of new talent and skills through immigration can act as a catalyst for growth, if navigated with foresight and strategic planning.

Rising from Challenge to Opportunity

profit, success, innovation, opportunities

Outlying opportunities also emerge from special events. The biggest barrier is that we become obsessed with the challenges and consequences rather than the opportunities. For example, we are still failing to manage the consequences of the pandemic. The nature of work and where it occurs have changed and we seem to adapt rather than manage. Working at home versus the office seems to be a political issue more than analyzing the economic, decision-making and social consequences.

Adapting Education in Post-Pandemic Times

Education seems to be making the least adjustment. While it is clear young children lost significant learning during the pandemic there seems little priority to restore the losses or ensure newer students get excellent opportunities.

Political and Economic Shifts as Opportunities

Political, social and economic events can create significant opportunities and challenges. Declining birth rates, geographic changes and climate control are also occurring and require better planning and management.

Health Innovations and Lifestyle Changes

With 39% of Americans considered obese and an additional 31% overweight, new weight loss drugs have the potential of having a major impact on diet and improving other health results like heart attacks and length of life. Weight loss programs, diet, exercise, and other programs have had limited results helping people lose weight and keeping it off. However, the new weight loss drugs have shown tremendous results in helping people lose weight and keep it off. They have even greater potential if issues like price, some side effects, and proving long term potential can be resolved.

Embracing Risks and Rewards in the Outlier Odyssey

Yet, the pursuit of outliers is not without its risks. The terrain is often uncharted, the outcomes uncertain. The key to navigating this uncertainty lies in a balanced approach—testing waters with modest commitments, being vigilant and adaptable, and never losing sight of the inherent passion and creativity that drive innovation. Exceptional customer service, the willingness to collaborate, and an open-minded approach to problem-solving emerge as critical enablers in this journey.

The Future Beckons: Will We Take the Leap?

So, where does this leave us? On the precipice of opportunity, with a choice to make. Will we tread the familiar paths, or will we venture into the realm of outliers, armed with the insights, strategies, and courage to explore the unexplored? The outliers beckon with the promise of growth, innovation, and transformation, challenging us to rethink our perspectives, to be agile, and to always be on the lookout for the next unexpected opportunity.

As we navigate this odyssey, let’s remember that outliers are not just about taking risks; they’re about understanding and managing those risks with intelligence, creativity, and a deep-seated belief in the potential that lies beyond the conventional. It’s a journey that demands resilience, adaptability, and a relentless pursuit of the extraordinary. And in this quest, the rewards—both personal and professional—can be as boundless as the outliers themselves.

In embracing the outlier odyssey, we might just find that what once seemed like distant possibilities are, in fact, within our reach, waiting to be seized and transformed into the next chapter of our success stories. The question is, are we ready to take that leap?

Let’s start a conversation – no matter what stage you are in with your business.  As an exercise, tell us how you have better managed challenges. Then, tell us what areas you to need focus on in order to see improvement.

Call me at: 914-632-6977 or email me at: bshlensky@startupconnection.net

Dr. Bert Shlensky of StartupConnection.net earned a PhD from the Sloan School of Management at M.I.T., mentored a few thousand clients at Score and his own practice, grew Sure Fit products from $50 million dollars to $150 million in sales including $60 million of direct internet sales, was President of WestPoint Pepperell’s Apparel Fabrics Business and headed the $400 million Culet Shirt Group. In short, he knows what works and can help you lead your company to greater profitability and success. 

Unleashing Your Potential: Easy Guides for Your Success Journey

Unleashing Your Potential: Easy Guides for Your Success Journey

In a world saturated with negativity, particularly in the wake of the pandemic, it’s high time we shift our focus towards opportunities and unlocking our true potential. Let’s explore some straightforward guides that strike a balance between wisdom and relatability.

Begin with a sprinkle of wisdom. Consider these two thought-provoking quotes:

George Bernard Shaw once mused, “Some people see things as they are and say why? I dream things that never were and say, why not?”

"What would you do if you weren't afraid?"  - Sheryl Sandberg
Learn to unleash your potential!

Sheryl Sandberg, addressing the self-doubt that still holds many women back, challenges us with, “What would you do if you weren’t afraid?”

The Realities: A Charted Journey

We all crave success, but let’s not be blind to the ups and downs of the journey. Picture this – a chart revealing the common, bumpy ride to success. It’s a visual cue that appearances can be deceiving, much like those optical illusions where all the lines are r the same length.

Diverse Paths of Entrepreneurship

There are different approaches to entrepreneurship that we sometimes fail to recognize.On one side, big company are all about growth and raising capital, as seen in the fact that 83% of IPOs in the last year were in the red. On the flip side, the majority of entrepreneurs are simply hustling to make ends meet year after year.

Much of corporate innovation is focused is on uncovering superior or novel solutions to existing challenges. Picture this: car companies investing years in refining combustible engines, retailers dedicated to enhancing the shopping experience, and giants like IBM striving to build bigger and better computers.

And yet there’s a whole other league of companies carving a different path. Their mission is to develop entirely new solutions. This shift has given birth to groundbreaking innovations like the electric car, the E-Commerce revolution, and the ever-expanding realm of cloud computing – all championed by these visionary new players. It’s a dynamic landscape where established players and fresh faces alike are shaping the future.

Embracing Change: Cooperation and Collaboration

Change is the only constant, and it’s time to adapt. Cooperation, collaboration, and embracing new resources are the keys to evolving. The game-changer is recognizing that taking risks isn’t synonymous with failure. Testing alternatives to find optimal solutions and gaining experience are crucial aspects of success. Risk is a critical part of every decision. And, frankly, I think we all need more of it. We tend to think of risk as a taboo concept when it’s really not—once you understand it.

Cartoon with boss talking to an employee hiding behind his chair - "OK, I'm going to say you're quite risk averse."
Learn how to unleash your potential

Balancing Vision and Execution

“Vision without execution is hallucination,” echoes the wisdom of Thomas Edison.

While we celebrate excellence, we often overlook opportunities to do things better. Streamlining processes, cutting unnecessary costs, and tackling bureaucracy can enhance organizations. Customer service is a function where companies can devote new efforts to improve. Pricing is not a dirty word, and there are numerous tools to improve results without deteriorating your brand. All these actions can contribute to progress and improvement if an organization embraces them.

Battling Bias: The Unseen Culprit

Bias lurks in the background, often leading to unreliable results. Here’s the thing. We love to be right and hate to be wrong. Acknowledging and challenging bias is crucial. The “It won’t happen to me” mindset can be a silent contributor to unexpected volatility. Our brain, working surreptitiously in the background, doesn’t alert us too how biased we actually are. Recognize this unseen force, and decisions become more informed.

Injecting Fun: The Secret Sauce

Don’t forget the fun element!

As Steve Jobs wisely stated, “The only way to do great work is to love what you do.”

"Do what you do so well that they will want to see it again and bring their friends." - Walt Disney

And Walt Disney’s advice to “Do what you do so well that they will want to see it again and bring their friends” emphasizes the joy in mastering just having fun.

Tools for Excellence: Reaching Higher Potential

Armed with these insights, recognize the toolbox available to enhance excellence and unlock higher potential. Realistic goals, strategic plans, understanding risks, biases, and having the confidence to embrace your potential – it’s all part of the journey. So, strike that balance, enjoy the ride, and let’s embark on the path to unlocking our fullest potential.

Dr. Bert Shlensky, President of www.startupconnection.net, offers experience, skills, and a team devoted to developing and executing winning strategies. This combination has been the key to client success. We welcome comments, suggestions and questions You can write him at bshlensky@startupconnection .net or call at 914-632-6977

Navigating the Hurdles of Rationality

Navigating the Hurdles of Rationality

Let’s talk about rationality – that concept we all agree is generally a good thing. Thanks to technology and analytics, we’ve got tools like GPS making our lives simpler and less stressful. But, as with most things, rationality comes with its set of challenges that we can’t just overlook.

Now, can we solve these challenges with just rational thought?

"Because the people who are crazy enough to think they can change the world are the ones who do."  - Steve Jobs.  Question rationality?

It’s a bit like Steve Jobs said, “Because the people who are crazy enough to think they can change the world are the ones who do.”

But then again, Thomas Edison adds a dose of reality with, “A vision without execution is hallucination.”

Rationality and analytics can be invaluable when it comes to making decisions based on models, probability, risk, and numbers. Take our firm’s analytics, for instance – it’s been a game-changer, helping clients focus on the 20% of customers or products driving 80% of their sales. Sports managing, betting and coaching decisions, too, have seen significant improvement with better analytics.

But let’s not forget the magic of intuition, creativity, passion, and out-of-the-box thinking. The fast, experiential vibe of these elements considers factors that analysis often misses. They’re almost essential for dealing with change, uncertainty, and creativity, like in supply chain management.

George Bernard Shaw said it best, “The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man.”

Dilbert cartoon comaparing intuition to guessing

When we throw in a curveball like COVID, and rationality gets trickier. Forecasting for 2020 became a special event, shaking up models for everything from workers going back to the office, students going back to the classroom, airline passenger growth, business meetings, to apparel and entertainment trends.

When you’re dealing with complex goals, things can get a bit tricky. One common challenge is figuring out how to balance growth and profit. Lately, venture capital firms have been switching gears, putting more emphasis on profit to get better returns. Then there’s higher interest rates, inflation, and moderation in the growth of technology. In addition, there’s juggling issues like supply chain hiccups, managing teams, dealing with the ever-shifting political scene, and other surprise curveballs. Take, for example, the rise in retail store theft, which has become a critical factor that’s impacting how both individual stores and big chains perform.

Do we have the information to be rational? Assumptions, demographics, time periods – they all play a role. Our perceptions can be deceiving, too. Sample surveys versus actuals show us that what we think might be rational can be way off.

Manager discussing AI with his employee - "His decisions arent any better than yours, but they're WAY faster..."  Question rationality?

Rational thought must be carefully reviewed for bias. Bias is a tricky player in the rationality game. Right-brain and left-brain thinking are different beasts, and biases are often just human. Our recent experiences can color our decisions, and analysts love their formulas, but most bias is just plain human.

Testing, measurement, and examining alternatives can improve rational analysis. How do we make rational thought work? Test, measure, and explore alternatives. Plans often fall flat because they’re too one-dimensional for our complex world. For example, branding, marketing, pricing and operations must all be viewed as an integrated program rather than separate and isolated activities.

Understanding your data can significantly improve the validity of analysis. Before getting started, be sure to understand your data. Demographics matter – the Southwest is a whole different ball game from the Northeast.

Define your parameters as well. Who’s your audience? With 330 million people in the U.S., about 40% are over 65 or under 18. 164 million are in the labor force, 30% are black and Hispanic and around 50% of most age groups are men. These totals vary considerably by region, age, and ethnic background.

Be sure not to overlook the key elements of success – operations, customer service, and logistics are just as vital as the traditional functions.

Noise book cover

Remember that sometimes analytics can trip over its own feet. Daniel Kahneman, Olivier Simony, and Cass Sunstein, in their book Noise, point out that it can miss key metrics like mood, bias, mental state, and the like, can alter judicial decisions. Variables like hunger, how well-rested we are and personal preferences can all affect decisions. As a personal example, I’m diabetic and regular meals is a critical aspect of my lifestyle to avoid excess stress, mood swings, depression and anger.   

Rationality can add complexity to simple solutions. Simplify where you can. Predicting the stock market is made overly complex while simple factors may do better, and key players matter more in sports than we often think.

Focus on factors that most affect your decisions so you can understand them and estimate factors that are not as significant. For example, look at aggregate costs and administrative expenses rather than trying to forecast small items like telephone, utility, and insurance costs.

Risk requires more personal factors be considered more than many rational models. Retirement recommendations based solely on drawing down assets might not cut it in our world of growth, low interest rates, and low inflation.

Confidence and emotion alter analytical solutions Nike’s “just do it” mantra and Sheryl Sandberg’s “What would you do if you weren’t afraid?” both speak to the power of emotion in decision-making. We often avoid actions due to fear or public perception rather than assessing potential success.

A lot of the push for giving out “participation prizes” is about making activities less stressful and competitive. On the flip side, watching kids take their first steps or ride a bike is extra special because of the joy they feel in their own success. Our feelings – whether it’s passion, dislike, or bias – really shape how we think, especially in things like love, sports, and just having fun. Sometimes, our perceptions and habits lead us to believe things that aren’t true.

Recently, scientists have been looking into how we make choices and have found that we often play it safe, avoid shaking things up, and stick to what’s comfortable.

More so, our emotions and actions are also influenced by the timing of things. When there’s a big tragedy, like a terror attack, bad weather, or war, there’s this immediate call for action and commitment. But as time passes, the costs and tradeoffs start piling up, and that sense of urgency fades away.

Rationality can be expanded to be more effective. How do we amp up rationality? Be open, embrace change, and be willing to improve and accept outside advice. Organizations need to share, understand, and observe their data. And in the end, let’s maximize rational thought but keep our eyes wide open to alternatives, assumptions, and limitations. After all, more analytics can generally be useful for small businesses, but it’s crucial that the foundation is solid.

Dr. Bert Shlensky, President of www.startupconnection.net, offers experience, skills, and a team devoted to developing and executing winning strategies.  Our strategy includes clear steps, and over 150 free articles and templates to facilitate your efforts and guide your process. We’re here to help you get on track and stay there as you move forward. You might start with our quick video.

We welcome comments, suggestions, and questions. You can write us at: bshlensky@startupconnection.net or call at 914-632-6977

How to Turn Negative Feedback into Positive Progress

How to Turn Negative Feedback into Positive Progress

When faced with negative feedback our common reaction is to immediately defend ourselves with our own rationale. But what if we took a moment to really dig into that feedback, understand what it’s telling us, and use it as a catalyst for improvement?

Negative feedback is usually a result of disappointment.

Negative feedback typically comes when we’ve fallen short of expectations. But let’s not forget that testing things, making mistakes and learning along the way is a crucial part of solving problems.

"You miss 100% of the shots you don't take"  - Wayne Gretzky

Remember Wayne Gretzky’s wise words: “You miss 100% of the shots you don’t take.” Let’s embrace the feedback and see where it can take us.

The nature and source of negative feedback needs to be understood and resolved.

Instead of shooting the messenger, let’s focus on what the feedback is saying. Take economists predicting gloom and doom, for instance. They underestimated factors like consumer behavior, post-pandemic recovery, and the increased participation of women in the workforce. Preschool, for example, is a game-changer for working mothers.

The basis of negative feedback needs to be understood.

Understanding the root of negative feedback is key. The pandemic has thrown data into chaos, with more volatility than we’re used to. We need to scrutinize the sources, consistency, demographics, and how we measure it all. Factors like climate change, politics, demographics, and uncertainty affect our data parameters. Does anyone really think Taylor Swift’s attendance at games is boosting the Kansas City Chief’s scores?

How much do bias and opinion affect negative feedback?

Bias and opinion play a big role in how we perceive negative feedback. Entrepreneurs often have unwavering faith in their ventures despite the harsh reality that 90% of startups fail within five years. Sports fans are no different, believing their team can win even when odds are stacked against them. Go Bears!

Bias creeps in when we ignore relevant information, especially when it comes to social and environmental issues. But the simplest things, like saying “please” and “thank you” and asking people “how are you?” can go a long way in building relationships. And bias is highly influenced by circumstances – getting pulled over by a cop feels very different from seeing one protect a place of worship.

Focus on facts rather than opinions or the general nature of the source.

We need to shift our focus from opinions and the source’s general nature to facts. Negative feedback can be valuable and constructive, regardless of how it’s delivered. We must address issues like crime, prejudice, climate change, hatred and safety collaboratively and without political bias. We need to take context into account. For example, when it comes to parenting, supporting toddlers learning to walk is a far cry from teaching teens to drive.

Recognize the existence of the individual agenda.

Let’s take the work-from-home debate. Arguments for and againstoften boils down to personal situations and opinions rather than hard facts. For people with long commutes and individually focused jobs, productivity and satisfaction can be improved by working from home. In contrast, jobs that require significant interaction and collaboration benefit more from working together in an office environment. However, the real question should be about productivity and what it means in each context, a question that often seems to be missing from the conversation.

We need to focus on the positive and not just the negatives.

Cartoon with person making an office presentation "The good news is we're getting a lot of feedback.  The bad news is we're getting a lot of feedback."

Let’s also celebrate the positives, not just dwell on the negatives. Drunk driving, heart attacks, women’s rights, civil rights, safety, and smoking have all seen significant improvements in recent years. More women are becoming CEOs (currently 15% at public companies), and road fatalities have declined drastically. We should channel our energy into breaking down barriers and seizing opportunities to do more to support these and similar efforts than focus energy on the negatives.

Focus on solutions and not excuses.

Fear, uncertainty, unrealistic goals, and a reluctance to accept mistakes can all lead to excuses. In contrast, embracing risk, maintaining confidence, learning from errors, accepting the unknown, and setting clear, achievable goals can vastly improve performance.

Understand, monitor and react to negative feedback.

Lastly, we need to understand, monitor, and react to negative feedback. It’s too easy to ignore, forget, or downplay the negatives in areas like health, performance, climate, and safety. We need to acknowledge these issues and continue to support positive practices. For example, staying home when sick is becoming a more accepted practice than spreading illness at work or at school.

In Anne Duke’s book Quit, she discusses how terms like grit, persistence, confidence are common management recommendations. She says, “Grit can get you to stick to hard things that are no longer worthwhile. The trick is figuring out the difference.” 

However, terms like quit, fail, lose, etc. all have negative connotations. For example, when I was a new consultant at SCORE, I expressed my disappointment at the large number of people we were unable to help. The response was, “One of the best things we do at SCORE is to help people keep their day jobs”, as if the mere desire to quit a day job to strike out on one’s own was something to squash.

Measurement is also a critical tool for evaluating success, failure and potential. For example, I’m type 2 diabetic and have blood tests done every three months to adjust my behavior and medications. Managing diabetes involves constant monitoring and modifications of diet, exercise and medication. Recently I had added a drug with weight loss potential and have lost over 15 pounds in four months. The next goal is to test how that affects other factors involved. 

In the end, it’s about finding solutions to negative feedback and the data that’s been excavated from it. Constructive criticism offers an opportunity for improvement. On the flipside, when feedback is irrelevant, it’s okay to let it go. What long experience has taught me is that getting defensive or ignoring feedback won’t improve anything. Instead, let’s use it to inspire understanding, explore alternatives, and craft better solutions.

Dr. Bert Shlensky, President of www.startupconnection.net, offers experience, skills, and a team devoted to developing and executing winning strategies.  Our strategy includes clear steps, and over 150 free articles and templates to facilitate your efforts and guide your process. We’re here to help you get on track and stay there as you move forward. You might start with our quick video: https://www.youtube.com/watch?v=dhZ3LvSmZfw

We welcome comments, suggestions, and questions. You can write us at: bshlensky@startupconnection.net or call at 914-632-6977.

Passion and Positivity Fuel Success

Passion and Positivity Fuel Success

As a business consultant, I constantly hear stories, read advice, and see comments focused on worries, concerns, and caution. While thinking through strategies and carefully planning your approach are important, the fuel that brings an idea to life are passion and positivity.

"Do what you love and success will follow.  Passion is the fuel behind a successful career."  - Meg Whitman
Positivity is crucial

Skill, experience, training, analytics, and all the other technical aspects of running a business are important, yes. But, without the passion and positivity, will you have the drive to push through when problems arise? Will you have the perseverance to keep going when it feels hard? The desire and persistence to succeed come from something you have to find within yourself.

When the “going gets tough,” it can sometimes feel overwhelming. That’s when you need to tap into your “why”—your reason for running this business in the first place. What do you love about it? Why is it important for this pursuit to be successful? What is your driver? Maybe your product or service helps people and it feels good to know that you’re making a difference. Or maybe your company brings people together and that is fulfilling for you. Whatever it is, that is the fuel you need to succeed.

"Passion gives you the motivation to keep trying, even if you fail time after time."  - David A. Hunter

If you need a little boost finding your passion and positivity (some days are harder than others), here are some reminders to keep you on track:

  • Stop focusing on the negative. Positive thinking is vital. To really have a good chance at success, one needs a balance between reality, paranoia, action, and positive thinking.
  • Positive thinking does not necessarily mean avoiding or ignoring negatives. Instead, it involves making the most of the potentially bad situations, trying to see the best in other people, and viewing yourself and your abilities in a positive light.
  • Create a positive culture. Say please, thank you, and demonstrate you care about people. Show support with praise and encouragement.
  • Remember that operating a small business is a process. Recognize you will make mistakes. Your goal must be to develop, test, measure, and adapt rather than give up after the first or second problem. Because there will be problems. Regularly. Therefore, businesses not only need to have alternatives at the ready, but the processes to adapt must be in place as well.
  • Stay grounded. Encourage open communication, a sense of realism, and focus on problem solving. Be sure to constantly assess your situation. Develop expert support and, when appropriate, have discussions with outside and inside colleagues. There are always ways to improve. So, be open to new ideas and suggestions.
  • Be flexible. Because the market changes, and your customers’ lifestyles change by the nano-second, you need to be able to pivot. By “expecting” that your market can change from year to year, you are being proactive in your thinking, and can create flexible plans to adapt to these changes.
  • Put yourself in others’ shoes. There is extensive research supporting the idea that people don’t change unless they believe in it. So, when given the opportunity to argue your case, try to emphasize the benefits for the other party. It is well proven that tactics like collaboration, trust, and listening work better in decision-making than dictating, lecturing, and proclaiming false expertise. Think of things from their perspective.
Cartoon of one worker telling another who looks like a smiley emoticon "A good attitude is important, Fred, but it'd be nice if you did a little work, too!"
  • Understand your goals, resources, and risk. In particular, really understand your market analysis, competition, how and why your company is different, and why customers should care. Are you focused on long-term growth or quick profits? While testing alternatives is a great strategy, ensure that you are focused on priorities that you can execute and that will have the most potential.
  • Have fun. Finding ways to incorporate fun helps you tap into your passion and positivity. It can also reduce stress, boost morale, and fosters positivity.

Passion and positivity are great drivers of success. When you enjoy doing something, the effort you put into it feels more fulfilling. And while you may not be passionate about doing inventory, knowing it benefits the overall business may make the less-fun tasks more bearable. It’s all about mindset. So, set your worries aside, keep your passion and positivity at the forefront, continue working hard, and trust that you’re headed for greatness.

Dr. Bert Shlensky, president of Startup Connection, prides himself on his ability to define what is unique about each and every business. He works closely with individuals to develop a personalized approach that targets specific areas of concern and offers solutions based on his 40+ years of experience. His team of experts will address your particular needs while working to save you time and money.

You can reach Dr. Shlensky at: 914-632-6977

Or email: bshlensky@startupconnection.net