What if people re-scripted the definition of success? What if we totally dismissed the notion that success means a big house, expensive cars and vacations, designer clothes and dining in the hottest restaurants?
What if we allowed ourselves to measure our success by the success we empower others to achieve?
On Wednesday evening I met the one person in America whose job I would really love to have. Norm Brodsky is the regular columnist of the Street Smarts column in Inc. Magazine, a job he has had for the last 17 years. For most of those years he was running his own very successful business, which he sold in 2007. Now he spends his time writing for Inc. and counseling pro bono with 20-25 small business owners and entrepreneurs a week and doing a few deals as they appeal to him.
There is no doubt that Norm has achieved personal financial success, but he has shared so much wise counsel and inspired thousands of entrepreneurs to fulfill their own dreams. In terms of empowering others, the magnitude of Norm’s success is off the charts.
I have been reading Norm’s column for years and have garnered many a great suggestion that I have captured in my teaching materials for my startup coaching students. Here are some of the highlights from his talk at the Inc. event in Atlanta on February 15, 2012:
On Management:
§ Take responsibility for your mistakes. You are in charge.
§ Being wise is better than being smart. Wisdom comes from learning from someone else’s mistakes (or your own).
§ A CEO’s main job is to create a warm corporate culture for his or her company.
On Hiring:
§ The three key things to seek in a great employee are loyalty, attitude and longevity.
§ You can teach anybody anything if they have the right attitude.
On Seeking Third-Party Funding :
§ Bootstrapping is better than Borrowed Money, whether in the form of loans or equity.
On Discovering Good Ideas for a Business:
§ Keep your eyes open and you’ll see something that will inspire you.
§ Go for the idea that has been around for 100 years. Finding customers for a brand new idea is a much harder startup.
§ Find a niche.
On Building a Solid Business:
§ Never cut your price. In lean economies, give more services.
§ Understand who your competitors are, it’s not everyone.
§ Common courtesy in all aspects of your business dealings goes a long way.
§ Focus is KEY; concentrate on one business idea at a time.
On the Future for Entrepreneurs:
§ Now is a great time to start a business.
§ We are living in an innovation economy where entrepreneurship is going digital and providing a platform for Part-time entrepreneurs.
Quote for Today:
“The more I help others to succeed, the more I succeed.”
~ Ray Kroc, Founder of McDonalds
The evening was a tremendous success for all who attended. I brought my student Jenny Letourneau with me along with her husband Bryon; they have just launched a new biodiesel company called Jasper Fuels. They learned a great deal and had a terrific experience networking with other entrepreneurs. Norm was a fantastic speaker, neither he nor the audience wanted the evening to end.
As much as I would love your job Norm, I would much rather you keep on doing what you do. I’ll be here reading and waiting for another chance to see you in action. In the meantime we can both work on that new measure of success and help as many hopeful entrepreneurs as possible realize their dreams.
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