What Is Your Job As A CEO?

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Sunday, 8.02pm

Sheffield, U.K.

I was thinking about what Tech CEOs have to do – what does the Chief Executive Officer of a tech firm need to think about and do every day?

Imagine you’re the CEO of a company. Even if it’s the CEO of your own one person business – you’re still in charge and everyone looks to you for direction.

It’s a scary position to be in – to be so completely and totally in charge. No one else that you can point to or blame. It’s not a position you can run away from.

In some ways it’s like being a writer or an artist. Every creative person, without exception, suffers from self doubt and isolation.

You’re making something – creating words or pictures or music. And when you’re done people will see the results of your work and judge you.

You have to get beyond those worries, push through them and create and be damned. The rest of the world doesn’t matter – if you create just for you.

As a CEO, you’re creating a business. More than anyone else in the business, the responsibility for shaping and bringing the business to life rests with you.

So, I was wondering, do tech companies have to do anything different? Are tech companies different in some way? What do you need to be aware of?

1. The basics – people, process, performance

Well, clearly there are the basics – who you hire, what they do and how well they do it.

And obviously, you must have a product.

Your job is to get the most out of your team, to motivate them, to work harder than them, to show them that you care – for the product and about them.

It’s a job where you need to have a lot emotionally invested in the business. It’s not like being an adviser or consultant – you are the business. To everyone that’s interested, anyway.

2. Be careful what you say

The thing with being the boss is that people listen to what you say.

In meetings, you’ll find people positioning themselves so they can watch you but you can’t watch them. People will hang onto your words and build on your ideas – whether good or bad.

What you say will matter.

Warren Buffett writes about this – it’s example number 3 of what he calls the institutional imperative – as follows

(3) Any business craving of the leader, however foolish, will be quickly supported by detailed rate-of-return and strategic studies prepared by his troops

No one will tell you that you’re doing something stupid. Not your employees anyway. Maybe your investors – perhaps some members of an independent Board.

But, if you’re aware that your every whisper can become a shout as it moves along the organisation, you might be more careful what you say.

3. Understanding markets and trends

A big part of your job is looking outside the company. What’s going on in the market, what are the trends?

Do you understand what your competitors are doing, which new firm is trying to turn your market inside out, and are you positioned to be lifted up by a trend or battered and tossed by it?

It’s things like knowing your Total Addressable Market (TAM), Served Available Market (SAM) and the Served Obtainable Market (SOM), and how you’re going to get to them.

As a CEO, your success depends just as much on what others in your market do as what you do – and you have a lot less control over them.

4. The big one – creator of culture

As a CEO, how you behave is how everyone behaves. Culture travels top down.

And that can be a shock to some people. If you’re an accountant or lawyer, accustomed to saying no or looking for problems, you’ll need to change your mindset to one that is more visionary and that can talk about where you’re going and what the opportunities are.

The things you believe in – whether you should rule with fear, or motivate with incentives – will become policies and norms and standards.

The types of attitudes you have – to the way people dress, what you expect from people in the workplace, how understanding you are about the challenges working couples with children have – will find their way into your company.

Your company is you. And the people in there will start to act like you act. So, you must decide how best to act – all the time.

Not a tech CEO – just a CEO

When you go through this list, nothing really jumps out as specific to a tech CEO.

It’s just skills that you need to have as a CEO.

Perhaps you also need to have an understanding of tech – but it’s more important that you understand the people you have on your team that understand tech.

When it comes down to it, being a CEO is about being the company.

And you’re just got to try and be a good one.

Cheers,

Karthik Suresh

How Do You Know Something Is Worth Doing?

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Tuesday, 9.26pm

Sheffield, U.K.

I’ve tried todo lists, and they don’t work for me.

The lists of actions fill up faster than I can tick them off. Then, all of a sudden, I have fifteen pages of todos and no real plan for dealing with them.

And I think it would be a mistake to force myself to do them in order. Or rank them in some way. Or work out some kind of process for managing them.

Because that leads down a rabbit hole of list holders and Filofaxes and text files and apps and all that kind of stuff.

The kinds of tools and books and stationery that are everywhere, tempting you away from doing the work.

And they have a seductive siren song – if you use them you will get better, more productive, more beautiful, more sexy.

Maybe that works for some people.

I just know I’ve spent many hours thinking about how to do things rather than actually doing them.

And that is not necessarily a bad thing.

Scott Fitzgerald once wrote “The test of a first-rate intelligence is the ability to hold two opposed ideas in mind at the same time and still retain the ability to function.”

Maybe I can use that as an excuse…

So, on the one hand you have the idea of sharpening your axe. If you have an hour to cut down a tree, spend the first 50 minutes getting it sharp and then get to work.

On the other hand you have the school of long hours and hard work. The workplaces where facetime matters more than anything else.

Doesn’t matter if your axe is blunt – just get on with it and work harder.

Which is problematic. As Scott Adams writes, the reward for doing good work is usually more work.

Promotion doesn’t help. Robert Frost suggested that if you worked hard 8 hours a day you could eventually become a boss and work 12 hours a day.

For many of us, we should make better choices about what is worth doing. How should we spend our time?

Warren Buffett writes about how he constantly looks for ways to make large investments but tries to avoid small commitments.

Your time is the greatest asset you have and investing it wisely is the biggest job you have to do.

Should you be spending it on minor tasks or focusing it where you can make a big difference?

Buffett says – if something’s not worth doing at all, it’s not worth doing well.

For those of us that work as consultants or any other profession where our time is what makes us an income, this is crucial to learn.

There are lots of things that are important. Tasks that are important to us, and tasks that are important to others.

We’ll get satisfaction out of accomplishing important tasks. Others will only pay us if they believe that we can accomplish an important task for them.

But that’s not enough.

If we want to do things that move us closer to our goals, the tasks also need to be well defined.

We need to be clear on the shape and size of what we’re doing. We need to know how long we’ll do it and at what price.

With knowledge work, this can be hard.

But we need to get rid of the fuzziness and be clear on what we’re doing. That’s the only way to build a business instead of having a hobby.

The task for us is to try and spend our time in the zone – the magic zone – where the majority of what we do is both important and well-defined.

The rest is not worth doing at all.

Cheers,

Karthik Suresh

What’s Andrew Carnegie’s Number One Secret For Succeeding In Business?

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Saturday, 10.56pm

Sheffield, U.K.

I don’t know how you go about writing your blog, if you have one, but my approach is quite random.

Really.

If you were to get some advice from a marketing person on blogging, you’d probably start by having a goal, understanding your target audience, coming up with a list of topics they’d find useful, getting a schedule set up, crafting headlines and spending a lot of time promoting what you’re doing.

That’s how it should be. Perhaps.

What I do is start with an idea – something random I’ve read. Say it’s about the Rule Of Frequency – which I’ll cover in a separate post.

This particular article is associated with GNU/Linux, so that gets me searching and gets me to the O’Reilly Open Books site. Which talks about the Open Library project.

A lot of what I learn and write about wouldn’t be possible without people putting time and effort into sharing what they know.

And since that seems a good thing – the fact that there is an Open Library project is also very interesting.

Because it seems to me that people create stuff for one of two reasons. They think it will help them in some way. Or they need to put down what they know before they burst.

The ones who do it for the second reason create much more interesting stuff. Stuff that’s actually useful.

And those are the books and articles that are worth reading. So, it makes sense to spend time hunting them down.

Wandering through the Open Library finally has me stumbling over Andrew Carnegie’s book “The Empire Of Business”, printed by Doubleday, Page & Co. in 1902.

The first chapter is a talk to young men – young people if we bring it up to date – where Carnegie tells you what he’s learned over a long business career.

His success secrets…

It’s good to start at the bottom, he says. If you’ve started there, you’ll be motivated to get ahead and much less likely to be led astray by the temptations available to those with more money than you.

Then there are three things you shouldn’t do. The first two? Don’t drink or speculate.

The third one… this is out of left field…

Don’t “indorse”. This means lending your name to support someone else. Perhaps as a favour to a friend – or as an influencer in these modern times. Probably “endorse” today.

In essence, be very careful who you lend your reputation to, because if things go wrong, you’ll be dragged down as well.

Then… what should you do?

Instead of looking at what you are asked to do – what you must do – for an employer, look for what you can do.

You’re paid a wage to do what you must do. To make more, you must do more.

Future millionaires have one sure habit, Carnegie goes on. “Their revenues exceed their expenditures”.

If you can save, if you can show that you can hold on to money – others will lend you hundreds and thousands what you have when you need capital.

And then… we come to his final secret – the big one…

You can make money in any business – in any legitimate one making or dealing in a product that people want.

If you want to make money you need to do one thing. “Concentrate your energy, thought and capital exclusively” on that business.

Stick to it, fight it out, resolve to lead, be the best, have the best and know the most.

In other words, he says, “Put all your eggs in one basket, and then watch that basket”.

And finally… be patient. You’ll get there.

Cheers,

Karthik Suresh

How To Tell When You’re Overdoing It

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Friday, 9.25pm

Sheffield, U.K.

Sometimes a phrase paints a picture in your mind – and you know there’s something there worth thinking about.

I stumbled across such a phrase on Charlie Stross’ blog. Charlie is a science fiction writer living in Edinburgh.

He talks about using a revision control system for writing his books – and writes that when he has some spare time he’s “going to poke around with git, but pointing a distributed SCCM at a novel is a bit like using an ICBM to swat a fly”

That is a fantastic phrase.

And it’s conjures up a picture that is worth keeping in mind.

Because, so much stuff around us is incredibly complicated yet astonishingly useless.

Take writing, for instance.

If you do any kind of professional writing – for a sales proposal, for example – you know that you go through certain phases.

You need to do your research, then try and pick out the most important points, organise them in a sensible order, fill in the text, go and find or create images and charts and tables and sprinkle the whole thing with plenty of examples and proof points while keeping track of any references and data that might be important later.

Then, perhaps you open Microsoft Word and stare at a blank page.

It’s hard to get across just how unhelpful a tool Word is when you want to do a serious piece of writing.

Yes the capability is in there somewhere. You can use an outliner. There is a reference manager. You can set out the document and pull in pictures.

Very quickly, however, as the word count and images rack up, you end up with a multi-megabyte monster that slows down when opening and starts to haunt your dreams.

And the software world is full of such examples. We have bigger and better computers, but we never seem to be able to get things done any faster.

The developers of these tools are constantly trying to made them better – but perhaps they’re just overdoing it and the actual benefits lie elsewhere.

Maybe we just need something much simpler.

What we see on our computers is happening around us in life as well.

Take a look around your house. Perhaps you’re one of those rare people that has only what you need and nothing else.

The kind of person that empties out your briefcase or bag every night and fills it again in the morning.

The rest of us, especially those of us with kids, live in what appears to be a collection centre for plastic and fabric.

Do we really need that many toys? Or clothes? Or pots and pans? Or bags?

Books? Now there I have to admit – I’m not sure there is such a thing as too many books…

But I know that sometimes I need to get rid of them. And I do. Reluctantly.

Whatever your goal in life – it probably involves an element of living well – being happy.

And I wonder just how happy all this stuff makes us.

As the saying goes, first you own your stuff. And then your stuff owns you.

Perhaps we just need to put all these ICBMs down and have a rest.

Cheers,

Karthik Suresh

How To Get Your Business Ready To Compete In A Digital Economy

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Sunday, 7.40pm

Sheffield, U.K.

What does a digital transformation mean for your business?

Your business may have been born digital.

Perhaps you used to do personal training, decided to do some videos of your training routines and recipe ideas, got a following and now create fitness and nutrition content online and offline full time.

You don’t need to worry about a transformation. You’re already there.

But, what if you clean carpets?

In 2015 I needed some carpets cleaning. So, I picked up the yellow pages and rang the number of the company closest to me. It was a weekend – a Saturday.

A lady answered the phone and took a message. She said the owner would call back later.

Well, I wasn’t that keen on waiting. So, I did a search. Found a website for a carpet cleaner that listed all their services and prices.

I could have ordered online, but I thought I’d call them instead. Someone answered the phone. They asked if I had called because of the online discount. I’d missed that but of course I said yes. They gave me the discount and got the order.

The first guy never called me back. Or maybe he did and I missed the call.

Now, if you called him as part of a survey and asked him if he had a website, there’s a good chance he doesn’t. And, of the people who don’t have websites, nearly 80% think they’re not necessary – perhaps what this guy would have said.

The problem is… he doesn’t know. He doesn’t know he’s losing business because he doesn’t have that website. It’s happening – but it’s invisible to him – he’s simply not even in the running for many people who’ve ordered online straight away.

At the other end of the scale you have large businesses that still operate using legacy digital and paper systems. It’s possible they’re changing things, but it’s also possible that they’re too terrified of breaking stuff to make a difference.

So, if this whole transformation thing is something you’re vaguely aware is something you should be doing, how do you get started?

There are three areas where you can make a difference

The main thing to get clear is not technology. There are lots of offerings – and you might have a choice of free/open source software, cloud infrastructure, software as a service options and endless other combinations.

The first thing to get clear is what are the benefits to you. A digital technology must help you do any of these things to be in the running:

  1. Does it help you make more sales?
  2. Does it help you reduce operating costs?
  3. Does it help you give customers a better experience?

The business case for the first two is pretty simple. If you get more business than the cost of the technology, then you might consider it.

The last one is the hard one to quantify. Do your customers get a better experience if you give them a self-service portal or if you give them more individual attention?

Do the videos and pictures you put up make your company more human and approachable – more authentic – and so lead to a better experience than corporate blandness?

If anything comes to you that doesn’t clearly improve things in one of these three areas, then it’s not a priority. It’s a nice to have and you can think about it later.

How to think through your situation and come up with a strategy

Once you’re clear on the areas when you can make a difference, it’s time to ask yourself some more questions.

Once again – there are three to work through.

Let’s take sales, for example.

First you ask – why do you need to transform it?

Perhaps you’re an author and want to reach readers around the world but don’t have a publisher. If you’re going to try self-publishing, then understanding e-book platforms, personal branding and content creation is an absolute must.

If, on the other hand, you sell very specific business services to a possible market of a few thousand people, you’re not going to need a fancy CRM to manage that. A spreadsheet will probably work just fine.

Perhaps use Google docs so you can share information.

The second question is to ask, what if I do a particular thing.

Let’s look at costs this time.

What if you bought an expensive system to evaluate the impact of commodity prices on your business?

Such a system might cost you a few $100k. If your commodity spend isn’t in the hundreds of millions, it will be hard to justify the saving.

Perhaps you’re better off outsourcing that – having someone else buy the system and effectively rent the results from them.

The second question then leads to a decision on how to go ahead.

How do I implement this improvement?

The how is about getting the benefit – not about implementing a system. The system exists to provide you with a benefit.

So, let’s take the third focus area to look at this one – customer experience.

Quite often, companies think that they should install a self-service portal.

This does make the experience better in some industries – internet banking, for instance.

In other industries, it’s a pain in the rear. Customers might prefer to simply get the information they need by email rather than spending hours working with your painfully slow portal.

iCloud – for example – is my current example of a completely and utterly useless online portal.

And the how should also consider what happens when things go wrong.

If you go completely SAAS and the company folds, what happens? If it’s a crucial part of your business, perhaps you should consider open source so that you can keep going even if the developers fold up one day.

In summary… if you’re digitally native already, thank your lucky stars.

If you’re not, before you buy a system – you’ve got some important strategic thinking to work through.

Cheers,

Karthik Suresh

How To Search For Product-Market Fit

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Friday, 6:46pm

Sheffield, U.K.

You must have seen an Emma Bridgewater mug at some point. They stand out – ceramic with sponge dotted bits of colour. Instantly recognisable.

And the market goes crazy about them. I’m looking at one on my desk right now. There’s something very calming about them.

This outcome – product-market fit, is what all of us are searching for. We’re searching for this in almost every aspect of our lives, if you take a moment to think about it.

What are kids doing when they try and decide what to study or specialise in? They’re trying to match their talents with the courses on offer.

Sometimes we think we should do something because there is a market for those skills. We might study engineering or law because our parents think it will get us a good job.

They’re suggesting we change ourselves – the product – to fit what the market wants.

This is such a crucial aspect of succeeding at anything that it’s worth examining in some detail.

Let’s say you have a brilliant new invention. You think it’s brilliant anyway. How do you know for sure?

You know when someone hands over money for it. Willingly.

But that just tries to simply a hugely important thing into a few words – missing the point along the way.

Let’s think of a model that we can apply. What is the most successful product-market fitting algorithm ever devised?

I’ll give you a hint. It resulted in you.

Evolution.

The world is full of environments – jungles, marshes, volcanoes, deep ocean trenches.

And every one of those environments has creatures. Creatures that have specialised and adapted and evolved to fit those environments.

Just like markets. Markets are simply a manifestation of people’s desires. We want stuff, and products emerge in the market to fill our need.

We want to get from one place to another. So we get cars – fast cars, big cars, slow cars, expensive cars, off-road cars – and bikes and planes and everything else.

All these products help us with one main thing – mobility. And they also make us happy on the way – with music and comfort and buttons and flashing lights.

What happens if you don’t get product-market fit? Or the market changes?

It’s kind of obvious really. That’s why you don’t see many mammoths around. Or many companies that have been going for over a hundred years.

Everything changes. And the products that survive change and adapt along the way.

So, here’s my approach to product-market fit.

You get to it when your product can survive. It’s when you get to be profitable. You’re making more money selling it than it costs you to make it.

It’s not about growth and rocketships. The crucial point, the tipping point, is being able to survive.

Whether you’re a fruit fly or a Siberian tiger, if you’re alive, you’ve found a fit.

A creature survives when it gets enough energy from food from the outside to sustain it on the inside.

Your product will survive when it makes enough money to get into profit and sustain itself.

Now you’ve got a fit. You’ve survived. Everything from there is upside.

And you can grow just as big as your market lets you.

Or stay as small as you want to.

How To Engage Prospects Without Having To Sell To Them

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Monday, 10.36pm

Sheffield, U.K.

Github, recently bought by Microsoft, is turning into the world’s largest software graveyard.

But, you don’t just find software there.

Take this cool collection of marketing resources for engineers, curated by Lisa Dziuba of Flawless App.

Flicking through these got me to the concept of Engineering as Marketing, popularised by Gabriel Weinberg and Justin Mares in Traction: How any startup can achieve explosive customer growth.

What does this mean?

You can’t just tell people what you do and show them a brochure and expect them to buy any more.

First of all, it’s hard to get to speak with anyone. They’re all busy. And, unless what you do is exactly what they are looking for right now, they’ll cut you off.

That’s if you get through the receptionist and the email only policy.

And that’s because telling isn’t selling.

Increasingly, what we’re trying to sell in product and service companies is technology. Brains aren’t enough.

You need tech as well – and with tech you have to show what you can do. Demo or die.

But what if you have a large, complex and expensive product?

Or what you have something like a book to sell? Something that doesn’t have a technology element to it.

Take the energy business, for example. It can take from tens of thousands to many millions to develop a new solar project.

I’ve just typed “solar irradiance calculator” into Google.

The first website that comes up is for a Solar Electricity Handbook.

The handbook is the best selling solar energy book today, the website says.

But on the website, they also have a calculator, which lets you see how much a solar installation will perform in the city of Masis, in Armenia – should you wish to do something like that.

And here’s the interesting thing.

The second link on Google is for a company that is using this calculator – and gives the first site a linkback.

That’s a perfect example of engineering as marketing.

The company has created a free tool.

That is focused, no pun intended, on calculating a specific thing – how much sun energy do you get in a particular place.

It’s complementary – which means that it doesn’t steal sales from its main product. You can use the calculator without losing any sales of the book.

The book is the main product and the calculator is a useful additional bit that might get you to the website and even buy the book.

And its building useful links from other sites that use the tool.

Most examples of engineering as marketing focus on the big examples – Hubspot and the like.

But – small companies with small budgets can also use this strategy very effectively.

You might struggle to get time with decision makers to talk to them about what you do.

If your product is relatively expensive – it’s going to take time to develop a relationship with them at a number of levels.

If you provide free and useful tools that don’t cannibalise your core business – they could end up coming to you.

For example, if you use a calculator on someone’s website for long enough, you might be interested enough to talk more about the rest of your products.

Take the solar PV project business – if you can provide tools that make it easier to find locations with good sunlight – you might find people coming to you to ask about your design and installation services.

Like many of the best solutions, engineering as marketing doesn’t try and tackle a problem head on, you go around it instead.

And it doesn’t need to be expensive. Creating microsites, calculators and other small tools don’t need to cost a lot or take much time.

But you do want to make then free, focused and useful.

And, importantly, not make you lose sales.

Cheers,

Karthik Suresh

What Is The Secret Behind A Creative Leap?

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Saturday, 10.03pm

Sheffield, U.K.

Brian Tracy, the motivational speaker, starts one of his talks by saying something like “Before I came in today, I read every one of your resumes and I know all your job titles.”

He points to someone in the first row. “You sir, your title is Chief Problem Solver.” To another, “You’re VP of Problem Solving.” And to another, “Executive Problem Solver.”

This gets to the heart of where the interesting stuff happens in business today.

Either you’re in a job where you’re told by your boss exactly what to do, and you do it that way or you get fired.

Or, your boss doesn’t know what the right answer is and needs you to figure it out, in which case you have a client, not a boss.

The first kind of job is manual labour. And, when you think about it, many jobs need that kind of approach – from working at a fast food chain to carrying out heart surgery.

You wouldn’t want your meal cooked in whatever way the chef fancies – perhaps they’ll try it a little under cooked this time to test out if the flavour is better?

You’d want your surgeon to do exactly what is needed – and not go off on a diversionary expedition inside you to follow up something more interesting?

But, there was a time before those jobs and tasks existed in the way they do now. Someone figured out how to make fast food work.

The McDonald brothers worked it out. They created a restaurant where every move was orchestrated. Every step and action had a purpose.

At a recent visit to a McDonalds, I counted around 15 people behind the counter, and no one was getting in each other’s way.

In the film “The Founder”, you hear the story of how they did it – how they noticed that people wanted burgers and fries and not much else off the menu – how they tore down their restaurant and rebuilt it from scratch and created a whole new concept in dining as a result.

We see the end result, but we rarely see the process. Often, people who do creative things can’t explain how they do it – it’s almost magical.

But… it’s something many people are interested in and study. In this paper, Kees Dorst and Nigel Cross look at creativity in the design process.

There are two states we can be in – a problem state and a solution state.

Imagine them like mountainous islands separated by a forbidding stretch of water.

The challenge is to get from one side to the other.

People who do this well start by exploring their mountain in detail.

They look at the problem, what the client feels, how it impacts them. They try and look at it from different angles and viewpoints. They ask themselves questions that try to prod creative thinking, lateral thinking.

They look at possible solutions – explore the solution space. What are the approaches that have already been tried? What could we do differently? What’s the opposite of what is being asked for.

Then, they start to frame the problem – settle on a way to view it.

This means focusing on the things inside the frame and discounting the things outside it. Focusing on the things that matter.

Trying to match up the problem space and the solution space.

All this work is trying to build a bridge – a bridge between the problem space and solution space.

This bridge is the thing that links the two in a way that works. Some bridges won’t. Some will – and they will work well enough to be selected to go ahead.

So, the creative leap is like building a bridge. But what it takes – what it needs is immersing ourselves in the problem and solution space, going past the simple and default and first solutions that come to mind and forcing ourselves to look longer and further and harder.

When we see a finished product – whether it’s a book, an idea, a business model – we might think it sprang to life fully formed. This way of doing things is the only way.

And that way lie jobs that are filled with boredom.

The interesting jobs are the ones where you solve problems – where you make clients happy.

A warning, however. This doesn’t mean you’ll make money.

The McDonald brothers had to eventually sell their business to Ray Kroc, who went on to create the business we know today.

They solved the operations problem – to create fast food.

He solved the business problem.

Either way, they’re all creative problem solvers.

Cheers,

Karthik Suresh

What Are The Simple Rules That Will Radically Grow Your Business?

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Tuesday, 9.22pm.

Sheffield, U.K.

John Caples was one of the best known names in copywriting and advertising, and worked for 58 years in the industry.

What, one might think, would someone who started writing in the 1920s have to say to us – a century later – about the nature of life and business?

Plenty, it turns out.

Caples learned his trade in mail order advertising, a tough school where you could precisely measure the return you got from your investment.

Mail order advertisers learned what worked, what didn’t and quickly focused on the approaches that made them a profit.

So, what’s it like today.

In many industries, technology has swept away the old ways of doing things, but created chaos and confusion along the way.

Take emails, for example.

No one denies that email has made it easier to contact people. You can get a message to someone across the world in seconds.

But… can you find a contract in your records from five years ago?

What if you’ve changed email service providers? What if all the documents were sent electronically?

How many photos or documents or spreadsheets can you find from even a few years ago that relate to a project you’ve finished?

One of the things we’ve lost by going digital is memory – we forget too much.

What does that mean?

It means that we’re so overwhelmed with the new and shiny that we forget to focus on the basics.

Caples said that there are two basic rules we need to follow to be successful in business – especially if we want to move from having a hobby or lifestyle business to one that can grow radically.

The first is to create business formulas – repeatable steps that produce results.

Your business exists because it uses resources to produce something that people want.

You can follow a new approach every single time you need to do something.

For example, if you run a law practice, you can approach each project as a completely new thing – a blank slate.

You wipe your memory of everything that has been done before and start again from scratch.

Or, you could create templates and processes and repeatable fill-in-the blank solutions for common problems.

Which approach do you think will scale?

You can make a perfectly good living from producing bespoke work. To grow you need to be able to create standard work that you can do yourself, or hire other people to do for you.

In other words, find what you are successful at and repeat it. Then scale it.

The second is to try something new every once in a while.

If you stick with a successful approach and only do that, then one day you’ll wake up to find that the market has changed and you’re no longer relevant.

You do need to have ideas, invest in research and development and make sure your business isn’t obsolete.

And, in today’s technological world, the more your business is based around technology, the quicker it becomes redundant.

People, however, don’t change. If your business is appealing to people – technology is simply a channel to help you reach them.

Like most things – these two rules seem incredibly simple.

  • Repeat the successful
  • Try something new

Some people might say – that’s just obvious. So obvious it’s not worth pointing out.

Very well then – if they know this already – then they must already have a successful, growing business, no?

No?

Try going back to basics every once in a while. I know I need to.

Do You Have A Plan For What Happens When You Have Wild Success?

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It’s slow and hard trying to build something.

Whether it’s a career, a business, a side hustle or a project – it can often feel like it takes forever to get anywhere.

Or is that just me?

Others get there much faster – with skill and luck and timing on their side.

Maybe it’s context. If you’re the first on the scene in a hot new market, and you have the skills and sense to see what is going on, you can make it big.

Or, if you’ve come up with a way to transform an existing market, you may find yourself flooded with more business than you ever thought possible.

Many of us know what we’re going to do in the next hour, maybe the rest of the day.

We might have an idea of what’s up tomorrow – perhaps the rest of the week.

We know we’re moving towards something, hopefully.

Perhaps it’s the big three that many dream of – freedom, autonomy and mastery.

For many of us, the perfect role or career or business is one where we are free to set our own hours and work at our own pace, have control over what we do and how we achieve results, and hone our skills and craft at something we like doing.

What most of us think about is what’s happening at the margin.

That means we look at the difference between where we are now and where we are going to be a short time from now.

That dominates most of our waking and thinking time.

What’s the next action, the next meal, the next chore to do.

If we’re busy, we rarely have the time to look around and see what else might be happening.

But perhaps we should prepare for at least one thing.

Imagine wild success.

Imagine that whatever you are doing has succeeded beyond your wildest dreams.

If you have a business, your latest promotion has gone viral and you’ve received thousands of orders.

If you’re raising crowd funding, people have suddenly realised that you’re offering the opportunity of the century at a bargain prices and you’ve got 10,000 emails from people who want to invest.

Like a dog chasing a car – what’s he going to do if he catches it?

It may seem a simple thing – but it takes a different set of skills to keep something than it takes to get it.

Take lottery winners, for example.

You just need to buy a ticket to win millions.

But it seems that many winners spend all the money they get and end up more or less where they were when they started.

They didn’t have a plan for what they would do when they won.

You could win big at any time – so why not think about what you’ll do when that happens.