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The Worst Addiction for Entrepreneurs

Written on March 15, 2011 by George Krueger & Mary-Lynn Foster in Entrepreneurship

Addiction comes in many forms – drugs, alcohol, sex and gambling to name a few. But they aren’t the worst addiction for entrepreneurs.

Any of these addictions can destroy your life, to be sure. They can be so destructive that other people see it. They see you screwing it all up. They see you throwing your life away.

If you’re lucky – if they love you enough – they step in. “Faithful are the wounds of a friend,” King David said in Proverbs.

Hear George & Mary-Lynn discuss the biggest addiction for entrepreneurs on The BIGG Success Show podcast! Cick the player [5:38m]: Play Now | Play in Popup | Download

The invisible addiction
The worst addiction makes the top of the list because no one sees it. You may have this addiction and not even realize it.

But it’s there – lurking inside your head. If left unchecked, this addiction grows like a cancer inside you and eventually consumes you.

It drives your thoughts. It runs your life. Yet you’re not even aware of it.

You think you’re being prudent. You’re thinking you’re being wise. But you’re addicted. You’re hooked on your past mistakes!

This addiction manifests itself in one of two ways:

You stop taking risks
Anybody who does anything will make mistakes. As an entrepreneur, you do much more than “anything” – you turn nothing into something. You create value in the process, for yourself and others.

You will fail from time to time. When faced with failure, the average person stops trying. They give up. They get hooked on the mistake and it drives their life from that point forward.

They don’t take any risk. They get stuck in mediocrity. They never reach BIGG success.

The cure
So many people think, “I wish I had …” or “I wish I wouldn’t have …” when things don’t turn out as planned. And things never turn out as planned.

Successful entrepreneurs think, “Next time, I will …”

So forget about your mistakes and remember the lesson. Bring your experience into your next decision. You’re stronger and wiser now. You’re better prepared for BIGG success!

You double down
Some people do the opposite. When faced with a loss, they double down.

They desperately try to “get their money back.” They stop investing and start gambling and scrambling. They’re afraid of failing. They worry they’ll be embarrassed. They will do just about anything to try to “rescue” their investment of time and money.

The funny thing is – in some cases, this turns out to be the best response. You’re not a failure until you give up. However, you may be better off focusing your resources on something else.

The cure
Remove the emotion from the situation. Seek help from people who have been there. It’s tough to know whether to push on or move on. Ultimately, the decision is yours. Let logic rule and, one way or another, you’ll reach BIGG success!

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Tags: addictions, audioblog, bigg success, failure, faithful are the wounds of a friend, george krueger, mary-lynn foster, mistake, risk, successful entrepreneurs, the bigg success show

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Save the Holiday Party!

Written on November 6, 2008 by George Krueger & Mary-Lynn Foster in Business

holiday We face many important issues in the coming months and years. So we decided to start a movement – to save the holiday party!

Okay, maybe that’s not the most important thing we could address, but we still think that many business owners are making a bigg mistake by eliminating this annual tradition.

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Hear George & Mary-Lynn discuss today's topic on The Bigg Success Show! Click the purple player: Play Now | Play in Popup | Download

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A recent survey by executive search firm Battalia Winston found that fewer firms plan to host a holiday party for their employees this year. In fact, it’s the lowest number in the twenty year history of the study. The primary reason cited is the poor economy.

We think this sends the wrong message. Leaders who portray gloom and doom create an environment of uncertainty. It scares people. People today are looking for signs of reassurance, not signals of impending disaster.

Holiday parties aren’t just about having a party. They’re a great opportunity to show your appreciation to your people. They can help build your team by getting together without the pressure of work. Yet people inevitably talk about work, recalling fun times together from the past year. This builds a sense of comradery which helps get things done at work.

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If last year’s party is beyond this year’s budget, get creative. There are ways to keep the party without busting the bank. Here are some thoughts:

Look for deals

With more companies cutting back, you might be surprised to learn that facilities are more aggressive in pricing deals for those people who still plan to hold an event. You’ll never know if you don’t ask!

Keep it on site

If you can’t find a good deal, consider having it on site if your facility will accommodate it. Then look for a good deal on catering. You might find that catering firms offer a good alternative since they’re not paying for the overhead of a facility.

Go potluck

If that’s still too expensive, have a potluck. Ask your employees to bring a dish. Consider making it a day-long event. People can “graze” and chat. Just for one day, accept a more relaxed environment full of impromptu conversations.

Make it fun

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marylynn Santa visited us at a radio station I worked at. The employees brought their kids in to tell him what they wanted. It was a lot of fun – all for the price of renting a Santa suit since our General Manager played Santa.

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There are many other ways to make it an event, even if it doesn’t fit the mold of a traditional holiday party. Give out awards. Have an employee who’s into such things produce a fun video or audio.

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marylynn At one radio station, our production manager put together a fun audio of all of our commercial outtakes. As the disc jockeys recorded commercials, he kept the bloopers and played them at our annual holiday get-together. It was so funny!

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george We gave out gag gifts at one of the companies I owned. They reflected something that an employee had done over the past year that made people laugh. It brought up the joke again and everybody loved it.

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Hold it after the New Year

A number of companies are turning their “holiday” party into an “annual” party. Instead of competing for space during the busy holiday season, they hold it after the New Year. A lot of people really like this because we’re all so busy at the end of the year.

We have friends who turned their annual holiday party into “Christmas in July.” We were fortunate enough to get invited. They had a Christmas tree and played holiday music. It made for a fun evening.

If you do end up doing something different, don’t present it as just the result of budget cutbacks. Tell your people that you want to try something different. Get them involved in finding a good solution.

What do you think? Does canceling the holiday party send the wrong message to your people? What are you doing this year for your people?

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