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image of classroom with the title: 3 Things to Un-Learn from School

3 Things to Unlearn from School for Success in Business

image of classroom with the title: 3 Things to Un-Learn from School

We found a great article in Entrepreneur that talks about the things you need to unlearn in school, because they could hurt you in business. We’ll share those with you plus get some insights.

Click the player to listen to this episode of The BIGG Success Show Podcast. Below is a summary of our discussion.

Our discussion today is inspired by an article written by Samuel Leeds in Entrepreneur. He says there are lies they tell you in school that won’t serve you in business, and they are: Don’t copy, learn everything before implementing, and don’t make mistakes.

We’re going to look at each one and share Leeds insights, as well as perspective from The Professor.

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A fork in the road | BIGG Success

To Be or to Do?

A fork in the road | BIGG Success

This post is a condensed version of a full article entitled Do You Want to Be Somebody or Do Something? in the BIGG Success Entreprenurturing™ Center. Join free to access it immediately.
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Listen to this post! Click play to hear George & Mary-Lynn on The BIGG Success Show Podcast. (Duration 4:00)

John Boyd is “the fighter pilot who changed the art of war.” The two of us know him best for developing OODA loops. It’s is the planning model for today’s entrepreneur in our opinion.

He became a colonel in the Air Force, an instructor, and a man who abhorred incompetence. He often got into arguments with his superiors.

He would have been kicked out of the military except for one thing – he was usually on the right side of the argument.

So in case you’re not familiar with it, we want to share with you his “fork in the road” speech.

It’s one of the single most practical pieces of advice we’ve ever seen or heard.

The fork in the road speech
He would tell his charges: “A day will come when you will face a fork in the road. You will have to make a decision about which way you go.”

Pointing to the left, he continued, “If you go that way, you can be somebody. You will have to make compromises and you will have to turn your back on your friends. But you will be a member of the club, and you will get promoted, and you will get good assignments.”

Putting his left arm down and pointing to the right, he said, “Or you can go that way and you can do something – something for your country and for your Air Force and for yourself.”

He continued, “If you decide you want to do something, you may not get promoted and you may not get good assignments, and you certainly will not be the favorite of your superiors. But you won’t have to compromise yourself. You will be true to your friends and to yourself. And your work will make a difference. To be somebody or to do something. In life there is often a roll call. That’s when you will have to make a decision. To be or to do? Which way will you go?”

Boyd’s right. We all face this choice.

To be
In the pursuit of fame and fortune, many people walk all over anyone and everyone. They will do anything and everything they have to do for glory.

They will behave unethically. They will act selfishly. They may even succeed. They may have money and mansions. They may have fans who adore them.

But status gained in this manner often leads to a certain feeling of emptiness inside. These people often end up divorced, with bad children, and go to jail.

To do
But instead of trying to be somebody, you may find your BIGG opportunity in an organization which shares your values. As a corporate entrepreneur, you can make a difference from the inside out.

Or you may create your own gig. More and more people are doing it – finding ways to make a life, not just a living.

You can become a difference-maker. You can serve your fellow human beings. You can lift them up instead of tearing them down.

When you do this, they will lift you up to BIGG success!

To be or to do – which one do you choose?

Direct link to The Bigg Success Show audio file | podcast:
http://traffic.libsyn.com/biggsuccess/00854-032713.mp3

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You Can Avoid the Mistakes that Brought this Business Down

quote There’s a great post by Roger Ehrenberg on his Information Arbitrage site. Roger was an investor, board member and leader in Monitor110, a company that planned to become the internet version of Bloomberg. The team had impressive credentials, but ultimately the business didn’t make it.

Roger spells out the reasons why. We admire him for sharing these lessons because most of us don’t like to talk about our failures. These are mistakes that any of us could make, so he provides a great opportunity to learn from others. But even more than that, it’s the way he wrote about it that impressed us – he doesn’t cast blame; he just discusses the lessons he learned in the hopes that we may benefit. And we did!

That’s why we highly recommend that you read the whole post. We’ll hit his highlights here.
 

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7 mistakes that led to the demise of this business

#1 – No single leader
Monitor110 had two leaders – a technology person who was one of the founders and Roger, who was a business person. Roger said this structure just didn’t work.

This reminded us of the number of times we’ve seen two people start a business. It’s pretty common to split everything 50/50. But it’s a recipe for disaster. In almost all cases, there has to be someone who has the final say for a business to succeed.

#2 – The technology-side drove the business
This made us think of the number of entrepreneurs who start a business in their craft. They’re technically oriented. They love their product or service, but they ignore what the customer wants and needs.

#3 – Too much PR too early
Roger’s company was featured on the cover of the Financial Times. You wouldn’t think that would be a problem, would you? But Roger says this raised the bar with everyone – customers, themselves, and financiers … which led to the next problem.

#4 – Too much money
Too much PR. Which led to too much money. Sounds like a company that’s been blessed. But Roger says the blessing turned into a curse.

  • Because of the great PR, expectations went up significantly.
  • Within the financial community, so money flowed in
  • With their customers
  • And most importantly – with the people of Monitor110.

With all these high expectations, they didn’t push a product to market because it needed to be just right. And that didn’t matter because they had a cushion of cash.

#5 – Not enough customer feedback

By now, you see how all of these mistakes were interrelated. Because of the great publicity, they were afraid to show the customers what they had. They didn’t want to disappoint them and be disappointed. But it wasn’t a problem at the time because they had plenty of money. One mistake was feeding another which was feeding yet another.

#6 – Slow to adapt to the market
On a post not long ago, we talked about a military concept called OODA loops. OODA is an acronym for Observe, Orient, Decide, Act. The idea behind the concept is that by getting into the loop, you gain information. Then, by adapting to what you’ve learned, you gain a competitive advantage.

#7 – Disagreements about strategy
This stemmed from the technology side and the business side not being able to come to terms. It’s also an outflow of Mistake #1 – without a single leader, it’s hard to have a clear vision.

Just get started!

All of this made us think of the saying, “You don’t have to get it perfect; you just have to get it going. That’s one of the things that we did with Bigg Success. We talked to a lot of people who had all kinds of great ideas. Some diametrically opposed to each other! We could have easily just got caught in the quagmire.

Ultimately, we just launched. It wasn’t perfect – we knew that. We’ve learned a lot. There are things we would do differently if we had it all to do over again. But by launching, we were able to learn from the most important people of all – our community. We learned from you.

We’re happy to let you know that you’ll be seeing some bigg additions in the near future. So keep checking in and let us know what you think! We’re listening!

 

 

Related posts

Lessons Learned from a Bankrupt Business Owner   

10 Warning Signs of Trouble Ahead for Your Business  

(Image by Avolore)

fighter jets for the blog post about the OODA Loop concept

Get in the Loop to Gain a Competitive Advantage

fighter jets for the blog post about the OODA Loop concept

A military strategy that can help you get in the loop and give your business a competitive advantage.

We discuss how the OODA Loop on The BIGG Success Show. Here’s a summary…

Planning is certainly important to set your direction. Analysis is necessary, but a lot of people take it too far. At some point, you just have to do it.

United States Air Force Colonel John Boyd developed a concept for the military called OODA Loops. OODA is an acronym for Observe, Orient, Decide, Act.

It’s a useful concept in business as well. Boyd postulated that you gain an advantage if you work through this loop faster than others. This is particularly true in today’s highly competitive, rapidly changing business world.

Start by getting in the loop

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The Action Faction … They Get Traction!

By Bigg Success Staff
01-09-08

Life Skills

car_speeding_along_jpg

Planning is certainly important to set your direction. Analysis is necessary, but a lot of people take it too far. At some point, you just have to do it.

A recent post, by the great Tom Peters, entitled Don’t Know Where You’re Going? So What?  deserves your attention.

In the post, he talks about O.O.D.A. loops – a concept developed by United States Air Force Colonel John Boyd. OODA is an acronym for:

 Observe
 Orient
 Decide
 Act

Boyd contends that a military advantage can be gained if you work through this loop faster than your adversary. In today’s rapidly changing world, this concept applies to you as well.

Get in the loop!
The four processes in Boyd’s model are overlapping and interacting. That’s why you gain an advantage by getting in the loop.

As you move through the loop, you constantly receive new information. Feedback that you don’t get if you never act. You’re able to use that feedback to adapt. And that’s what gives you an advantage – you know things that the “analyzers” haven’t discovered.

You can’t know everything before you make a decision. You can conduct surveys, interviews, focus groups, or any number of other things. But they’re all speculative … conjecture … hypothesis.

When you take action, you get real facts. Hard evidence. Things you only get by taking action.

Step up to the plate!
Spring training for the upcoming baseball season is just around the corner. So we couldn’t resist a baseball analogy!

Nothing happens until you step up to the plate. Now, when you’re at bat, you might strike out – or you might hit a home run! The greatest home run hitters in history were usually also the kings of strike outs.

That’s the point – by taking action, you won’t always succeed. However you will learn from your mistakes, won’t you? The most successful people have usually fallen flat on their face a time or two. That’s part of the process.

So get in the action faction and you’ll get traction!  Do something – even if it’s wrong. Fail forward; learn from your mistakes. Adapt. Then move on. You’re more likely to meet with bigg success!

Hear today's lesson and laugh on The Bigg Success Show. 

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