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You’re A CEO, But Do You Really Know How To Do The Job?

February 22, 2022 by Jim Blasingame

The hardest job in the marketplace is the Chief Executive Officer of a small business.

So, how could it be harder to be the CEO of Excel Supply, LLC than the CEO of Exxon? Let’s look at the definition.

Investopedia says a CEO is “the highest-ranking executive in a company whose main responsibilities include developing and implementing high-level strategies, making major decisions, and managing overall operations and resources.”

For every element of that definition, Exxon’s CEO has a cadre of presidents reporting to him about how they’re managing battalions of VPs, brigades of managers, and armies of employees. Exxon’s CEO manages that handful of presidents who bring him performance updates.

The CEO of Excel Supply may have managers reporting to her, but she’s never more than one degree of separation from the work, and likely the alpha member of any given task, especially things like capitalization, cash flow, business development, etc.

There is one thing that sets all CEOs apart from every other position and it’s the first item in the definition: high-level strategy. A CEO’s primary job, which can be supported but never delegated, is to determine the long-term direction of the company. Every business, large or small, must have someone doing this CEO job, whether they use the title or not. [Continue Reading]

Two Worthy Heroes To Admire

February 15, 2022 by Jim Blasingame

Olympians and small business owners are kindred spirits.

Watching the Winter Olympic athletes compete, we’re taken to a place where special humans participate in a noble cause. These heroes commit countless hours over many years, pushing their minds and bodies to achieve a level of excellence that might qualify them to … merely be on an Olympic team and represent their country.

Notice neither winning medals nor glory was mentioned. Most Olympians find neither, and yet they try.

Watching an event, we’re at once self-conscious and grateful when the long lens of the camera invades that private moment just prior to the competition. Self-conscious because of the intrusion but grateful to share this moment and benefit vicariously from the Herculean effort about to be delivered.

The camera moves in closer. We can see the Olympian’s eyes and imagine their thoughts. The skier is thinking, “Twelve years and it all comes down to the next few seconds. Must remember the fundamentals.” The skater is having a word with herself, “Today, nothing less than my personal best.”

Then the long lens captures the mouth. There’s a lick to fight the cotton mouth that only those who risk failure have tasted. The lips move slightly to offer a prayer or claim an affirmation, and then, “This is it.”

Small business owners are a lot like Olympic athletes: [Continue Reading]

Think You Have It Tough? Meet Abraham Lincoln

February 8, 2022 by Jim Blasingame

It’s that time of year when we’re reminded of the life of one of the most famous people in the history of modern civilization. What follows is a little history and a lot of inspiration.

Earthlings in every country on the planet have heard of the American who was born dirt-poor in a log cabin on the frontier, 2013 years ago this week. Even if they don’t know why, people know the name Abraham Lincoln. And for good reason. Besides almost three dozen Lincoln monuments (including internationally), there are over 600 schools, dozens of cities and counties, and no less than a gazillion streets, parks, buildings, and sculptures celebrating this great man’s iconic name and countenance.

As the 16th president of the United States of America, it’s generally accepted that Lincoln’s leadership during one of the greatest conflicts in human history was a profile in courageous genius. Even though the American Civil War was horrendous and the post-war era harsh, prolonged and contentious, both resulted in the successful reassembly of the United States – sans slavery. When you consider the blessing that the re-United States became to the world for the past century and a half, it’s no leap of logic that Lincoln is recognized as one of the most important individuals in the history of Western Civilization.

As an unlikely leader, Lincoln was a risk-taker, which makes his story especially poignant for a special group of contemporary risk-takers – small business owners. At every waypoint along the ownership continuum, from startup to locking up for the last time, Main Street business owners can draw strength and inspiration from the uncomplicated witness of Lincoln’s inscrutable character and fierce leadership. [Continue Reading]

A Solid Gold Gift From Customers: “Follow Me Home”

February 2, 2022 by Jim Blasingame

First, let’s establish two maxims: one classic, one new.

Classic: The cardinal rule of customer acquisition – it’s not your customer’s job to keep your business top-of-mind, it’s yours.

New: Every year your online footprint – website, social media, etc. – become less of a destination and more of a distribution center. As a small business, you have to develop a strategy that doesn’t depend upon prospects and customers returning to your locations every time they need/want something from you.

It’s easier to keep a customer than find a new one – everybody knows that. The bad news is, with all of the mega-corp algorithms, online competitors, and cyber-clutter, keeping the attention of even our most loyal patrons is getting harder every day. But here’s the good news: For every example of how technology makes business more complicated, there is a corresponding tool or application that increases efficiency and productivity. Even for small businesses. [Continue Reading]

Storytelling Gave Birth To The Marketplace

January 24, 2022 by Jim Blasingame

Cogito ergo sum. French philosopher Rene Descartes proposed this idea in 1637, which translates to “I think, therefore I am.” Certainly, the power of abstract thought is what separates humans from other animals.

Anthropologists now believe Homo sapiens succeeded, unlike other members of the genus Homo, Neanderthals, and Cro-Magnon for example, because their (our) brains had a greater capacity for speech and language. Today Descartes might modify his philosophy to “I think and speak, therefore I am.”

In Wealth of Nations, Adam Smith proposed the written word as one of the three great human inventions; the other two are money and mathematics. But long before humans were writing we were telling stories. And these stories – told, memorized, and retold over millennia – became the headwaters of human development. And here in the third decade of the 21st century, humans still love to tell stories almost as much as we love to listen to them.

Another thing that’s older than writing is the marketplace. Long before Madison Avenue ad copy, merchants were verbalizing the value and benefits of their wares. Clearly, early business storytelling was the origin of modern selling skills. [Continue Reading]

The “Customer? What Customer Syndrome?” Part II

January 17, 2022 by Jim Blasingame

Last week you were introduced to a dangerous trend in the marketplace, which I’ve named the “Customer? What Customer? Syndrome,” or CWCS. This condition is found in companies that are more concerned with competitors than with customers.

You learned that Level One CWCS infects employees who have received little or no training about the direct link between customers and their employer’s success and, therefore, their paychecks. Level One is dangerous but not hopeless because those so afflicted can be cured with better hiring and training.

Now let’s talk about Level Two CWCS, which only afflicts managers. Level Two is more troubling and organizationally more devastating because it occurs at the top, where strategic decisions are made. [Continue Reading]