On Growth: Be a River

I read the following by Mark Sanborn and instantly wanted to share it with everyone. Enjoy!

I've been listening to a CD of a panel presentation from a conference I recently attended. The participants were all long-time friends and colleagues in the speaking business. They are all highly successful in their respective fields and I've seen great growth in them and their careers over the years.

The insights and perspectives they shared were very valuable and I have benefited from their collective wisdom.

In listening, I was reminded of something very important about highly successful people.

First, they invest regularly and significantly in their own growth.

I know each of these individuals and they have spent serious time and money in seeking out the best resources, whether professional associations, coaches or educational experiences.

Second, they become conduits of what they've learned.

Each freely shares what they've learned with colleagues and clients. Their exceptional expertise has created great demand for their services. Not only have they profited from their skills and abilities, but they have been willing to help others who desire to do the same.

They have become rivers.

Highly successful people are more concerned with their growth than their comfort; they are more committed to learning than leisure. That means they invest in learning and development.

But they don't stop there. Not only do they share; they increase their expertise and abilities in the sharing. A wonderful synergy takes place when they help others. People learn from the successful, but the successful learn not just from the people they teach but from the teaching process itself.

The lesson, if you aspire to become and stay successful: be a river.

Are Things Really as Bad as They Say?

In a recent Board meeting (consisting of small business owners) we had a conversation about the state of the economy. The question on the table was “are things really as bad as “they” say”? While the news out of Washington and most everything else in the press is negative the Board found reasons to be optimistic!

In spite of everything, small business owners find ways to grow their businesses and become financially successful. This economic swing is no different. Yes, business is run differently and won’t go back to the “old ways” but there are people out there making money in a down economy (including these Business Owners).

The economy will come back! What it will look like remains a question but it will come back. While unemployment is “high (9.7%)” compared with what we have seen in the past, the fact is we still have a lot of people working – 90% of the population!

At the end of the day, it is about remaining optimistic and looking for opportunities. While you need to keep on top of the economic news, there is no need to blame the economy. Find new and innovative ways to run your business. Small business owners (and Americans as a whole) have always persevered during difficult times.

Here is the message from one group of very successful business owners – focus, focus, focus!

Share your thoughts.

Help Great People Do Great Things

Last week at the Association for Corporate Growth (ACG) Denver luncheon, the keynote speaker was Jerre Stead, President and CEO of IHS. IHS is closing in on $1 Billion in revenue. Since 2005 the company has made 33 acquisitions. Since completing its IPO in 2005, the company revenues have more than doubled and EBITDA has grown about fourfold. SUffice to say, their performance over the past few years is worth noting.

Jerre Stead's message to the audience was straightforward - The Role of the CEO is to "Help Great People do Great Things." He then described five principles that he uses to operate IHS.

1. People are the only sustainable competitive advantage
   Treat them all with equal dignity and respect. There are no "perks" for anyone at IHS.
   
   
2. 100% trust of every person in the company
   At one point, Stead ordered the detailed IHS policy manuals (with hundreds and hundreds of policies) be shredded. "Do we need guidelines? Absolutely! But, if you let people use their best judgment, you never know how great they can be."
   
   
3. Invest in training and development
   "If I had an extra dollar, I'd spend it on training and development." It's the best investment you can make and its the surest way to reduce involuntary turnover.
   
   
4. Facts are our friends
   
   • Not masses of information, but "actionable facts".
   • "Give me three important facts that will help me make a decision."
   • One of Steads comments was that all proposed decisions at IHS require the generation of a "one-pager." On the one-pager is the summary of the proposal, what decision you are looking for and "three facts that will help me make the decision."
   • You can always ask for more detail, but get the key facts and help me make the decision.
   • You never have enough facts, but if you wait to make the decision until you have all the facts, it typically is too late.
     
     
5. Have an intense internal and external intellectual curiosity about customers
   All senior meetings start with some interaction about customers.
   
   
6. Reward ... Reward ... Reward ...
   HE said there were five principles, but he added a sixth very important one. Remember to reward employees continually for company success.
   

Share your thoughts on Jerre Stead's key principles.