Simple Solutions To Big Problems - Small Company Tips That Pay Big Dividends!
The situations and occurrences described here are real and to the best of my memory.
Problem #1: Lack of or need for more information at your company.
Situation: Our small company @Albridge Solutions was basically going out of business. We had no clients or revenue and cash was burning. I simply had to find out what was going on. I had a wife and three boys to provide for.
Solution: Peanuts. I got a bowl and filled it with peanuts. People are suckers for food but peanuts really do the trick. All of the sudden everyone was stopping by to have some nuts and a conversation. It was the best way to find out what was going on. I had tried unsuccessfully to press my ear against the wall, to eavesdrop on my boss’ conversations. It didn't work so well and was likely a violation of some HR policy we hadn't yet written. When things were getting really bad, I kicked it up to pistachios and the information flowed like water. The only time the CEO stopped talking was to enjoy a peanut.
Problem #2: Fear of failing or getting fired.
Situation: I have been in several small companies but this one was so small and new that we basically had to make it up every day, then recalibrate. Like parenting, there was no handbook to help us. We had a combination of big and small company guys, and for two years we not only didn't sell anything but had managed to spend all the cash our VC's had invested.
Solution: We were desperate and needed to take the fear out of taking risks. Risks were our only chance of doing something great and keeping the lights on. My boss would say the following to the troops to encourage risk taking without fear, "If you do something right tell everyone so you get some recognition. If you do something wrong tell everyone so you we don't do it again." A small group of us immediately embraced the principal and excelled at generating, implementing and cashing in on our ideas without fear. Then we went out and raised more money.
* The next one is related to the one prior but can also be used when you are at your creative apex.
Problem #3: The idea well has run dry. Or you have an unending desire to succeed at any cost.
Situation: We could not get our clients' potential users to adopt our technology. We had run out of ideas.
Solution: Why reinvent the wheel? The best and fastest way to any destination is to use what others have done before. Experience is invaluable. As JFK said, "Victory has a hundred fathers and defeat is an orphan." So feel free to borrow and steal good ideas from others. In the situation where our solutions were slow in adoption, I had read about a consulting firm that was in the business of helping firms roll out technology. I got smart on them, wrote a plan, hired staff and built the world’s first enterprise software performance reporting adoption team. Today there are over 100,000 users.
I did this at @Albridge Solutions, @Princeton Financial Systems, @State Street and @Scivantage.
Like recipes, borrowing them then adding an ingredient allows you to call it your own.
This Fed X commercial sums it up best.
My best, Chris
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