Trust = integrity x competence x commitment

You need to trust your partnersTrust = integrity x competence x commitmentIf you don’t think your partner has integrity, competence or commitment, then the entire equation = zero.Which means you have zero trust.Which means you can’t be partners.You have no choice: Get rid of your partner, or leave the business and start again.

Read More

The faster your feedback loops, the faster you can grow

Information + velocity of information = feedback speedThe greater the feedback speed, the faster you can learn.The more you learn, the more you grow.Feedback speed = growthIt’s no good having a system whereby you get all the information, if the speed of feedback is slow.By the time you realize you’re on the wrong track you’ll have run out…

Read More

Business is a comedy adventure, not a drama

Don’t get too sucked into the seriousness of it all. Just like life, don’t let your business become a drama. Think of the journey as an entertaining story you can tell your grandchildren one day. Make jokes. Roll with the punches. Appreciate the rollercoaster. Business in a comedy adventure, not a drama.

Read More

Give your customer what he needs, not what he expects

Your job is not to figure out what the customer expects. Your job is to figure out what the customer needs. Expectations are easy to predict. They are defined by what has always happened in the past. Needs are harder. Especially needs that the customer doesn’t know he has. This requires vision and innovation, and…

Read More

7 lessons for entrepreneurs from test cricket

Don’t make silly mistakes. Dropped catches or no balls are silly. If you make a silly mistake, put it behind you. No use stewing over the past. If you give 100% you have 10% chance of success. If you give 95% you have 0% of success. Be patient. No need to score at a run…

Read More

People will take a loss. The won’t take a lie

Being an entrepreneur is hard. You will make mistakes. You will lose money for yourself and others. In spite of everything, you will always get another chance. The only path without second chances the path of lies. You will be forgiven for incompetence. You won’t be forgiven for lying.

Read More

Don’t confuse emotional softness with weakness

Maybe one of your team members is a softie. A dreamer. A sensitive soul. Be careful you don’t correlate that with him being weak. Maybe he is weak, maybe he isn’t. His emotional sensitivity is not a barometer of strength. The only barometer of strength is how people behave in the face of adversity. The…

Read More

A bad employee can be like a bad cancer. Only chemo can kill it.

Most times, getting rid of a bad apple in your company is straightforward. Respectfully ask them to leave, pay the severance, move on with life. But sometimes the bad apple doesn’t want to leave. Not only is she unwilling, but she has managed to entangle herself in your company so deeply that you can’t cut…

Read More

Create non-linear value

There are two ways to create value: Linear & non-linear. Linear means your rewards are correlated to your efforts, in other words: Your upside is capped by the amount of hours you work. Non-linear means your rewards in not correlated to yours efforts, in other words: Your upside is uncapped, regardless of how hard you…

Read More

Don’t play with a python after holding a mouse

If you play with a mouse, and then straight afterwards go to your pet python for some petting, don’t be surprised if the python swallows your hand. A python is programmed to eat mice. If your hand reeks of mouse, the python will eat your hand. If your life entails regularly holding pythons, rather steer clear…

Read More

In a crisis, communication is everything

When your startup is in a crisis, communication can be the difference between life and death. When things get tough, your staff will panic. Rumors will fly. Trouble-makers will make trouble. Your external threats will be compounded by internal threats, lowering your odds of survival. Eliminate internal headwinds by minimizing internal uncertainty. Communicate. Tell people what’s going on. Even…

Read More

You don’t need to be an accountant to understand finance

You may think your businesses finances must be outsourced to a professional accountant. You’ve never studied accounting. You don’t like accounting. There’s no way you can handle your own financial reporting. Wrong. Outsourcing your business finances is like outsourcing your sales. A surefire way to lose your business. You don’t need to be an accountant to understand…

Read More