How to Ruin a Business Without Really Trying

Woman stressed is going crazy pulling her hair in frustration.

 

  • Would you like to ruin a business?
  • Have you been looking for tips that will guarantee you to fail?
  • Want to screw up your next big deal?

I didn’t think so.  That’s why you should read my friend, MJ Gottlieb’s new book How to Ruin a Business Without Really Trying: What Every Entrepreneur Should Not Do When Running a Business.

Because it will save you a lot of time, money, pain and aggravation to learn from someone else’s mistakes rather than your own.

Don’t own a business?  His advice isn’t just for entrepreneurs.  The same advice for an entrepreneur applies in the corporate world.

I recently had the opportunity to ask MJ to share his perspective with you.  He writes with an honesty and humility about his trials and mistakes that will draw you right in.

 

Fact: 90% of start-ups fail and 70-80% of all businesses fail within 10 years.

 

Learn What NOT to Do

MJ, why a book on ruining a business?

When an entrepreneur starts a business, a tremendous amount of time, effort and (often) money is spent and great sacrifices are made at the expense of friends and family.  That is a fact.  It is also a fact that losing (ruining) a business after all that sacrifice can be an extraordinarily painful experience.  What most people don’t realize is that they can significantly mitigate the risk of failure by learning from the mistakes of others before the clock starts and the stakes are for real.  If you truly study brands, you will see a pattern of common-thread mistakes that most businesses both past and present seem to share in common.  The ones who are willing to recognize a mistake and quickly adapt, adjust and modify will survive, the rest disappear.

 

“Only brands willing to recognize a mistake and adapt, adjust and modify will survive.” -MJ Gottlieb

 

It’s not that aspiring entrepreneurs don’t want to learn from failure, I think society is simply focused too much on the end result (the success) and is viewing things through rose-colored glasses.  Most of the information that I come across focuses on the small percent who are succeeding, as opposed to studying and learning from the vast majority who are not.

Statistics show 90% of start-ups fail and 70-80% of all businesses fail within 10 years.  Despite these facts, the market is flooded with how-to books and courses on how to succeed.  Here’s my concern with this.  Every business is different with its own unique blueprint to success, so there is absolutely no way you can tell someone how to run their business.  You can, however, find the key mistakes that most businesses seem to share in common to start to swing the percentages in the other direction and give more hope to the entrepreneur.

 

Learn From Adversity

How has adversity helped make you who you are?

I think it’s all about one’s perspective on the word.  Corny as it may sound, I have come to crave adversity and look at it as yet another great opportunity to grow.  The only reason I can see that perspective is because I operated from the other side for a very long time.  When I was young, I ran away from everything and accomplished nothing.  It wasn’t until I was able to turn around and look adversity in the face that I was able to take the power away from it and use it to my advantage.

I think adversity not only makes you a stronger person but also is the only way to see what you are truly capable of.  I think there should always be adversity to some extent, as it will always challenge us to grow.  Without adversity there is complacency, which I think is a four-letter word.  I always want some goal ahead of me that I have not yet achieved or some stumbling block I have not quite yet moved aside.

 

“It is just as important to know where you are as it is to know where you want to be.” -MJ Gottlieb

 

For example, basketball was my salvation, and I played every day until I couldn’t play anymore and had to get my hip replaced. I still do two hours of physical therapy every night because I not only want to get back on the basketball court but also want to dunk again.  The doctor says that is most likely not going to happen.  I say it most likely will.  While he is showing me the adversity, I choose to take it as a challenge and an opportunity.

How To Ruin 3D 2

Take me to the dark days after your first business failed.  What were you thinking? 

Leadership Moxie: What It Is and Why You Need It

Tough competitive business concept businessman wearing boxing gl

Decide to Lead

Attending a conference recently, I had the opportunity to see leadership in action.  We were sitting in a small, windowless room after a long day of listening to speeches.  I was asked to attend this meeting mostly as an observer.  The first person to talk immediately began explaining a problem.  It wasn’t a few minutes into her explanation when heads were nodding.  Apparently, the problem had been discussed time and time again.

But no one did anything about it.

Finally, a woman stood up and said, “I was at the last meeting and we are no farther to a solution now than we were then.  We have to do something.  Here’s what we are going to do…”

What she proposed was bold and somewhat controversial, but the atmosphere changed instantaneously.

Why?  Someone decided to lead.  Objections were raised, but she was determined.  You could hear the determination in her voice.  Her eyes were intense as she proceeded to outline the plan.  She was prepared, ready.

She had the guts to lead.  She was demonstrating, as you will see, M.O.X.I.E.  Moxie is a leadership formula, a set of characteristics, that distinguish leaders from others.  It makes a leader, like that gutsy woman, start to make things happen.

 

Lead With MOXIE

My friend John Baldoni is a leadership expert who has recently written about moxie in his latest book, MOXIE: The Secret to Bold and Gusty Leadership.  You may recognize him as the author of numerous books such as Lead With PurposeLead Your BossHow Great Leaders Get Great Results and Lead By Example.  He has also authored thousands of articles in publications ranging from the Wall Street Journal, Inc.com, Fast CompanyForbes, to Harvard Business Review.  I recently caught up with John to talk about his latest book.

 

“Moxie is the guts and determination leaders apply to achieve their goals.” -John Baldoni

 

What is moxie and how is it important to leaders?

Moxie in its purest form is the guts and gumption and determination leaders apply to achieve their goals.  Implied in that definition is the ability to meet and overcome adversity.  Few leaders achieve much without facing up to hardship. Resilience is inherent to moxie.  There is no shame in getting knocked down; it’s what you do next that matters.

MOXIE BY JOHN BALDONI MOXIE BY JOHN BALDONI

And please know I borrowed the word from the movies.  Think of characters who overcome the odds.  We say they have “moxie.”

M.O.X.I.E. is an acronym that really is a blueprint for effective leadership.  Let’s briefly touch on each letter:

Mindfulness.  How does a leader become more mindful about her self and her team?

Practice Self and Situation Awareness

Mindfulness, as I define it, is a combination of self-awareness as well as situation awareness. You develop self-awareness through practice of self-reflection.  You strengthen it by asking for feedback from trusted colleagues.  Situation awareness comes from knowing the score, that is, what’s happening and what’s not happening.  Leaders need to know how their team and organization is doing and they gain that perspective by asking questions, observing, listening, and evaluating what they learn.

 

See Opportunity All Around You

Opportunity.  Opportunistic leaders look for ways to improve everything.  Is this a mindset that can be taught?  How do you coach someone to be more opportunistic?

Leaders are those who see opportunity where others see obstacles. Leaders view challenges as occasions to address problems and find solutions.  True enough some of us are more disposed to opportunity than others, but it can be learned by watching how leaders navigate challenges and turn them into opportunities.

 

“Leaders see opportunity where others see obstacles.” -John Baldoni

 

History is shaped by such mindsets.  As I write in MOXIE, Nelson Mandela viewed South Africa’s hosting of the 1995 Rugby World Cup tournament as an opportunity to bring both white and black together as a unified people, at least for a sporting event Mandela developed such an opportunistic attitude during his long years in prison where he did all that he could to understand his captors, even learning their language Afrikaans.  As South Africa’s first black president he led by example. He did not cave into bitterness; he exemplified reconciliation which was institutionalized and put into practice through the nation.

Why Standing Out is More Important than Ever

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Your Personal Buzz

Recently, I shared my observations about all things honey.  A honey festival demonstrated that it’s possible to differentiate almost anything—at least from my uninitiated view of the product.

 

“Why fit in when you were born to stand out?” –Dr. Suess

 

Differentiate YOU

That amazing array of honey products got me thinking about personal brand.  We are all at a fair of sorts.  Whether the marketplace or in your social circles, there are many others competing for time, for opportunity.  How do YOU differentiate YOU?

Most of us don’t think about a conscious plan for standing out.  We have learned to blend in.  But great leaders stand out.  Work that is extraordinary captures our attention.  If you fail to stand out, you will be passed over at promotion time.  Overlooked in the marketplace.  Ignored for the most important opportunities.

 

“Great leaders stand out.” –Skip Prichard

 

Some work stands out so much that it generates that viral buzz that the media savors.  If it makes you uncomfortable just thinking about that type of attention, I have good news.  It often is tiny differences that make the big difference.  Success often happens at the margin.  If your work is only slightly better, you have an enormous advantage.  Often we look with interest at the shocking or spectacular, but settle for purchasing or consuming something closer to our version of normal.  The choice we make, however, is usually one that is just ahead of the competition.

Are you a leader?  Leaders do not blend in.  They don’t hide their unique qualities.

 

“Be the one to stand out in the crowd.” –Joel Osteen

 

Are you a blogger? More than the look and feel of your blog is the personal touch, the sharing, the authentic voice.

Do you have an upcoming speech?  Share a personal story or do something that no one else would do.