The Water Trough

Small Business and The Presidential Election

Whether you are a democrat, republican or otherwise, I imagine you are wondering what sort of impact the presidential election will have on your small business. For me, the answer is not much. I suppose that sounds blasphemous or perhaps just plain naive but here's why I feel this way.

The status-quo of politics is here to stay; regardless of who is in charge, change will not come easy. This country has all the grace of a super-tanker. A super-tanker with a Captain and Co-Captain, 535 first mates who confer (or not) on every detail of the navigation and in excess of 314 million folks who are clamoring to go which ever way they want to go at the time. WOW! The sheer magnitude of it makes my eyes water. 

But small business is not about government; sure there are many obstacles to small business and many of them are mediated by the government, but maybe it's time we quit the whining, take stock of what we have and who we are and exert some of that true grit that our fore-fathers relied upon. After all, small business is about the ingenuity, hard work and commitment of individuals like you and me- we should be spending our time doing what we can do rather than hopping on the wagon and insisting that someone else owes us something. Sure, its not easy- was it supposed to be?

Small business is a powerful economic engine and we as small business owners are best equipped to demonstrate this. Our strength lies in our individual contributions and this is something we can be proud of. 

In November a President will be installed, whether for a second or first term. He will be trusted with the task of pleasing 314 plus million people and he may or may not have the cooperation of his first mates. Our task is much more reasonable and the power to achieve our goals is much more securely in our hands. That is if we elect to pursue it.

Voices, Young or Old Are Meant to Be Heard

As a business coach I am inspired by the accomplishments made by my client-partners but also by folks in the communities around me. Several years ago I had the honor of being introduced to an amazing group of folks, Young Voices. While I was inspired by the vision and passion put forth by the founders Karen Feldman and Chace Baptista, I was blown away by the amazing impact that the youth of this group has had on education in Rhode Island. I’d be remiss not to mention that I have immense admiration for these young folks as well, as much for whom they are as for what they do.

Their story is an inspiration to me and they have graciously provided me a glimpse into who they are and what they have become and are yet to be. It is my pleasure to share this story with you. It is my hope that you will be inspired as I am and that you too will not only recognize the potential of our youth but that you will be reminded of the possibility in each of us.

“In 2006, Karen Feldman, then the Executive Director for Youth In Action (YIA), recognized the desperate need for authentic youth voice in policy-making in RI. In response, Karen and Chace Baptista, a YIA member, founded Young Voices. During its first year, with an operating budget of only $90,000, Young Voices prepared 40 Providence youth to work with powerful adults and shape statewide policies through trainings in advanced research, public speaking, networking, critical thinking, and debating skills in the Leadership Transformation Academy (LTA). Five years later, Young Voices now has an operating budget of $223,000, 3 full-time staff, and serves over 120 low-income, minority youth statewide.

Critically, Young Voices’ exponential growth can be measured not only in numbers, but by the impact the non-profit organization has on improving the quality of education in RI for youth. Successes include pushing for an equitable state funding formula, effective teacher evaluations, and teacher certification that is connected to classroom performance. Young Voices also focuses on ensuring youth have real input into the redesign of turnaround schools by offering the LTA at two turnaround high schools, working to improve school culture, graduation rates, and test scores.

Since 2006, hundreds of Young Voices’ youth have successfully influenced policy-making in RI and caused systemic change, while gaining advanced, transferable leadership skills. Young Voices’ youth are empowered to do well in school, get into college, lead successful lives, and contribute to the well-being of their community. In 2012, Young Voices continues to grow with plans to expand to three additional RI turnaround schools, and share its youth empowerment model nationally.”

Whether you are a parent or youth, an educator or simply one who cares about the future of our youth and the importance of education I encourage you to reach out to Young Voices for inspiration and opportunity. To my friend Karen Feldman, there are not words enough to express my belief in all you do- to the young folks that make Young Voices tick, I am honored to live in a world you will inherit.

Lessons Learned From the Republican Primary Race

It’s open season and the hunt is on; the contest for the Republican presidential contender continues and it’s driving me nuts. Don’t worry I am not going to take sides or talk politics. But I am reminded of something one of our earlier presidents said. In the words of Abe Lincoln- “You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time." It confounds my intelligence how anyone, politician, business owner, you name it, can expect to satisfy everyone. Maybe what Lincoln meant to say is ‘there is only one way to answer the question- some will like it, some won’t but none will be fooled.’

In order to achieve some things it is necessary to gain the endorsement of a variety of people. There is no better example of this than the political arena. On a local scale people have varying needs and wants; on a scale the size of this country the diversity is overwhelming. In short- it’s not possible to please everyone, much as we might try or more importantly, much as we might promise.

In business we too have the desire to please multiple parties. Employees, share-holders, clients, customers and the public each have unique expectations and it benefits us to please them all. But taking a lesson from the political theater, we know that’s not always possible. While there is no fool-proof method to get around it, there are a few things that will help us move closer to our goal.

Foster Realistic Expectations

We know what we are capable of and there is no advantage to promising that which we cannot deliver. Our capabilities (and limits) form the basis for what others expect of us. If we understand our capabilities and limits we can cultivate expectations that we can consistently fulfill. Better to be able to provide than to make excuses for failing to do so. Remember, we have the ability to set the expectations, we have the responsibility to keep them realistic and we must make sure they are adopted.

Integrity Matters

When asked, the majority of people assign great value to their personal and business
integrity. At the same time, a number many of these same people do not practice what they preach.  A prime example is “inflated size” messaging; the “we” to they refer to is really just “me” but we sounds so much better. It’s better and easier to be who you are; and best of luck if you are not prepared to take on tasks that are suited for a larger team.

Finally, carve out your audience. Since you cannot please all the people all of the time, figure out just who it is you want to please. More is not always better. We'd all like to have more business but that more comes at a cost that we don't always want to (or can afford to) pay. Doing what you do best for those that need or want it most will keep them coming back for more and will keep you as busy as you want to be.  

The Little Engine that CAN

According to the U.S. Small Business Administration, small business is the "heartbeat of the US economy. Small businesses, defined as those with less than 500 employees are what keeps this country (and those around the world) running. It may surprise you to know that small businesses: 

• Represent 99.7 percent of all employer firms.
• Employ just over half of all private sector employees.
• Pay 44 percent of total U.S. private payroll.
• Have generated 64 percent of net new jobs over the past 15 years.
• Create more than 50 percent of non-farm private gross domestic product (GDP).

The influence and impact of Small Business is truly amazing. But the numbers hide the real power that lies in this business model. While small business represents the greatest percentage of business entities in the US its not volume that matters, its what we do with those businesses that makes all the difference. 

As a young boy I recall the theme of build and buy American. Over time the desire to increase profits has brought cheaper goods to our shelves, most often from developing countries. In some measure, each of us (consumer, seller and exporter) are beneficiaries of this model. To be clear, I am not opposed to importation of goods from other countries, however I do feel we have lost sight of the incredible potential that is right here in our own backyard.

In this video Made in America we meet a builder in Bozeman, Montana who has vowed to build each home using materials made only in America. He estimates that if contractors throughout the US were to use 5% more materials made only in America, we would create 220,000 jobs now. In case you are wondering about this guys credibility- his undergraduate degree is in Economics. Oh and get this- you think it is costly to use American made materials? The Bozeman model using 100% American made products adds about 1% to the final cost of the house; that's right- on a $300,000 house you are looking at an additional $3000. When you factor in the benefits to the economy as a whole, it seems like a no-brainer.

The state of our economy might be giving lots of us heartburn but there are things that can be done and it starts with people just like you and me. This is not a story book, WE are the little engine that CAN!    

The Lessons of September 11, 2001

The morning of September 11, 2001 was not unlike today, 10 years later. The sky was a stunning blue and the air hinted of Autumn even though we insisted that Summer had a few weeks left in her. My wife and I were doing our usual late to rise routine as we always do when on holiday. Unlike most post Labor Day mornings there was a lot of commotion in the house and as we descended the stairs of the B & B we think of as home when in Cape May, NJ we were shocked to hear of the events that had only just begun to unfold.

Boo! From Halloween to 'Hellection'

What a way to start one of the most hellacious election weeks in recent memory- Halloween! As I ponder the goings-on a number of ideas come to mind. Don’t worry, I’m not going to share my view on the races- the pot has been stirred enough and is boiling over; I personally have had enough of it. There’s nothing quite as effective as a political campaign to heighten human emotion. And if you ask me, for those who are engaged in the process there is quite a bit of nonsense going on as well.