Need Motivation? Understand Your "Why"

In his book "8 Ways to Great", peak performance coach Dr. Doug Hirschhorn explains that understanding "why" you want to achieve a particular goal in life is more important than knowing "how" you are going to get there. If your reason "why" is compelling enough to you on a personal level then the "how" becomes almost irrelevant. Having a powerful reason "why" will motivate you to overcome obstacles that keep you from your goal. Even more importantly, a powerful "why" will help you bounce back when you experience a setback.

How Having a Compelling "Why" Works
This was illustrated to me in our town by a remarkable mom who was not happy with the local school system. She felt strongly that not enough attention was being paid to the interests of the children in the district and the changes that needed to be made to correct this. When she realized that the best way to accomplish her goal was to get involved, she decided to join the school board. Now this mom did not know anything about public office, or politics, she dreaded the thought of speaking in public. She had no experience with school administration or education. If you were to meet meet her you would say that she is generally shy and quiet.

None of this stopped her however because she was passionate about why she should run for the school board. She did not know many of the "hows" in this case but she had a strong enough reason "why". She had children in the school system and personally knew many more children also in the system. She wanted to assure that decisions made by the school board always accounted for the best interests of the students (vs. the many special interests that had representation at school board meetings). She worked tirelessly to communicate her message and once elected to the school board, worked relentlessly to assure the board looked out for the best interests of it's students.

Know Why You're Running Your Business
Running a business can be a chaotic mass of never ending tasks that demand personal attention. The smaller the business the more this is true - as you are most likely doing mostly everything, if not everything, yourself. It's important to take the time to ask yourself why you do what you do. Your reason why has got to be meaningful to you, energize you, and motivate you in good times and bad.

The Two Questions

1 - Why have I chosen to do what I do?

2 - Why am I still doing it?

Dr. Hirschhorn suggests that one's initial response may be: to make money. That however is a reason, not necessarily the reason. There are many ways to make money. Take your time and really think about your responses to these questions. How did you get started on your current path? Find the "why" that resonates within you and ignites your passion.

It is also possible that after all this introspection you may still not be able to find the right answer. This too is a wake up call. It may time to examine a third question:

What would I rather be doing in life?

Knowing your answer to these seemingly innocent and simple questions will help you as to strive to reach your next level of success, whatever that goal may be. Write the answers down! Refer to them periodically. Once you have good reasons "why" you're doing what you're doing then you can consider the "what's" and the "how's"

A Lesson from Big Business

Sometimes it's amazing how an opportunity presents itself so subtly and yet at the same time stare you in the face. It's truly a loss when we don't realize it until the moment has long passed.

An Opportunity Lost for a Large Business
I went to a large, nationally known department store recently with a printout from their web page. I wanted to buy a rototiller for $255 online. The online ad showed the product out of stock but I needed the tiller right away. So I went to the store with the ad in hand and explained my story to the sales associate. He said he couldn't help me, that the particular model was not in the store and available only online. I asked about all of the in store models and whether he could work with me on price to come closer to the ad price. There was even a model that was the same base price as the one in my ad ($319) but he said he couldn't work with me on that one either. Now the sales associate was polite and friendly but he also never really seemed eager to try and help me. No one else was in the lawn & garden area so it wasn't like he was overwhelmed with work. He was on the floor waiting for customers to approach. Yet when I approached he was happy to just tell me he couldn't help me. Apparently he felt he had done his job.

I asked if I there was a manager around that I could speak with. He said no and even asked why. I told him I wanted to speak to a manager who is interested in making a sale. He told me they are not interested in coming down that far in price on any of the tillers in store. I said OK and left. I went a half mile down Rt 22 to the Home Depot, showed them the same online ad from the other department store. They had the same rototiller and gave me the ad price. More importantly, the sales person didn't say no. He asked questions, got information.

The Lesson for a Small Business
I thought about my shopping experience that night and tried to come away with what the lesson is for a small business owner. Both of the stores I went to were large chains so the lesson in this case wasn't "small businesses sell cheaper rototillers". What I came up with was this: small business have the advantage in their flexibility. They are inherently better equipped to change quickly in response to their market conditions. It's kind of like the difference between driving a motorcycle through midtown traffic versus a stretch limo. The smaller vehicle can adjust to changing traffic patterns better the larger vehicle. It's important for the small business to recognize this and use it as a strength.

My guess is that the first sales person was probably adhering to some policy he was trained to adhere to. When a customer came with a different opportunity than what he was trained to handle he realized he couldn't help and told me so. He told me so politely as he was also probably trained to do. Apparently Home Depot has a different policy that makes it better equipped to handle the specific opportunity I presented them. The small business can and should have policies in place, but it should also have the ability to recognize opportunity and adjust accordingly to maximize upon it.

Barter as an Alternative to Cash

While bartering may be one of the oldest forms of commerce, in a sluggish economy it is a smart alternative to cash. Businesses barter excess inventory, time or capacity to obtain things they need. If you are strapped for cash consider what you have to trade with other businesses.

In photography bartering is fairly common. Photographers, models, hair and makeup artists are willing to trade time for images. The parties work together and everyone walks away with fresh images for their portfolios. On other occasions I've been able to work out a deal with banquet hall owners or clubs to use their location during slow periods(capacity) as a set for a photo shoot. In exchange I provide them images (inventory) they can use in their marketing material.

There are also barter exchanges where a merchant's goods/services are converted into "credits". You can then use your credits as a form of currency on the exchange. "Merchants Barter Exchange", based out of Monroe County PA, is one of many exchanges of this type.

If you trade directly with another partner remember the following:

1) Establish a value for your product or service.
You are using your goods as currency so it is extremely important to know their value.

2) Get it in writing.
Always keep accurate records. Be specific about what each side will give and receive.

3) It's taxable
A barter is still a business transaction and counts as taxable income.

3 Tips to Become a Better Networker

So you just attended a small business mixer and can't help but wonder whether you were successful. You met a handful of very nice people, ate great sushi, exchanged information and business cards. Was that it? You're left wondering if you've actually accomplished anything. Were you persuasive enough to convince people to use your product or service? Will you ever cross paths with these people again?

They say that networking is essential to developing your business. So how do you know you are networking well? I like to keep it simple with these three tips:


Have a goal in mind
Approach the event as an opportunity to achieve a specific objective. Whether it's to meet a specific supplier, potential customer, or even just to practice your "elevator speech". Setting a goal keeps you focused on being productive. The more specific the goal the better. For example, in my case "meet 5 people tonight that have not used any photography services in over 60 days" would give me the opportunity to meet 5 potential customers and discuss ways my services would benefit them.


Relax
At a networking event everyone is there to do the same thing! There will be experienced networkers as well as newbies. All are trying to meet people and establish relationships, so there is nothing awkward about it when you put it in this context. For the most part they all have a high-level grasp of the protocol. Introductions, brief discussion, exchange information and cards and move on to the next introduction. So relax and enjoy the event, but keep your goal in mind.


Follow up
This is the most important part of networking: developing the relationship. At the very least a follow up email or note to let your contact know you were glad to meet them, enjoyed the chat, etc. You may want to propose a meet where more formal business can be discussed. Another extremely effective approach to this is to understand where they need help. Then look for ways to help your contact. You may not be able fulfill their need directly but maybe you can refer your contact to another person in your network who can. Now you are helping them AND leveraging your network. Whoa, I think we may have crossed into advanced networking!

Networking is essential but that doesn't mean it can't be fun. Approach networking opportunities with a goal in mind, don't put too much pressure on yourself and most importantly - develop the relationship. Don't expect to be an expert networker from the start but you'll see once you put a little effort into it that it's not that hard!