Just about fifteen years ago I held my first press conference. It was at RIMS, which is an insurance conference my old business attended every year.
Everything was carefully coordinated, there was catering, and a wonderful room near the entrance so it would be easy for the media to attend. Except they didn't. Exactly one journalist was there. If I hadn't been an advertiser in their publication, the number would have dropped to precisely zero.
Unsurprisingly my initial reaction was to be a bit depressed. Thankfully I quickly reframed the incident in my mind. Business was strong, my family was good, my health was excellent, and furthermore, I hadn't compromised myself in any way to pull off the event. Thus, there was nothing to be ashamed of in the lack of attendees.
It illustrated a very important point: principles matter, pride doesn't. Valuing your principles means doing things in the right way, being honest, sticking to your commitments even when it is painful to do so. Pride revolves more around feelings. Principles are fixed, pride is fickle.
So when you are considering the success or failure of a situation, evaluate your adherence to principles rather than your sense of pride. Why does that matter?
When we are afraid of failing, that's usually our pride talking. Our worry over who is going to roll their eyes at our efforts, or ridicule our performance. By that standard, my first press conference was a dismal failure. But was it?
Even though there was virtually nobody there, I learned some valuable lessons (always book too small a room...crowded always is more intriguing than empty). There's more, but that alone was enough to make it worthwhile.
Now, I always try to remember whenever I feel fear creeping up: Don't worry about your pride, worry about your principles.
Alphabet Success - Keeping it Simple. The essence of a journey from an extra bedroom and a credit card to retirement in under seven years. Getting what you want does not have to be difficult. Find simple solutions to achieve your goals today. Also see Tim Fargo at http://timfargo.com
Showing posts with label risk. Show all posts
Showing posts with label risk. Show all posts
Monday, May 5, 2014
Wednesday, April 2, 2014
You've got to risk the terrible and pathetic, in order to get to the graceful and elegant.
If you haven't been bad at something recently, then you probably haven't tried anything new. The awkward bumbling of trying the unfamiliar is something many adults don't encounter very often. A pity, since the mastery of just about everything starts out badly. As toddlers we bumped and scraped our way to walking, which most of manage quite easily now. But often there are scars to show our early efforts.
You've got to risk the terrible and pathetic, in order to get to the graceful and elegant. Nobody is born a ballet dancer or a piano player. Try, fail, try again, fail better, and so on, until there is something there worth showing off.
In a world of rapid change, getting used to trying new things is pretty important. Fumbling with editing a video, sorting out a new app on your phone, wrestling with pronouncing a few words in an unfamiliar language are all the sorts of things you'd be advised to suffer through. Because you'll either be involved in the changing world, or left behind bewildered by it.
So, go on - be terrible; it's the key to greatness.
You've got to risk the terrible and pathetic, in order to get to the graceful and elegant. Nobody is born a ballet dancer or a piano player. Try, fail, try again, fail better, and so on, until there is something there worth showing off.
In a world of rapid change, getting used to trying new things is pretty important. Fumbling with editing a video, sorting out a new app on your phone, wrestling with pronouncing a few words in an unfamiliar language are all the sorts of things you'd be advised to suffer through. Because you'll either be involved in the changing world, or left behind bewildered by it.
So, go on - be terrible; it's the key to greatness.
Wednesday, January 8, 2014
Success is like Sausage??? Tim has lost his mind!
What the heck? How on earth is success like sausage? What do you mean?
Well, I think success is very similar to sausage. With apologies to non-meat eaters, sausage tastes pretty awesome, just like success. But there are some things that going into making sausage that might make it a bit less appetizing if you really think about it. Same as success. What do I mean by that?
When I was running Omega, before the big payoff, I had a business with over 300 people, and a $2 million dollar line of credit. Just to make it interesting the bank had a lien against my house in the event something went wrong. Yep, the place where I lived with my kids. One bad move and boom, goodbye villa, hello streets.
This is no pity party. But it is important to see success for what it is. An arduous journey to get past seemingly neverending obstacles while fending off the competition along the way. It can be incredibly fun and enjoyable. Except when it isn't. And if you want success, you don't get a button to select "fun stuff only". You get the spoils, but you also are in for the headaches and risks.
So yes, success is like sausage, you'd be surprised what goes into it.
But don't let that stop you from taking a bite.
Well, I think success is very similar to sausage. With apologies to non-meat eaters, sausage tastes pretty awesome, just like success. But there are some things that going into making sausage that might make it a bit less appetizing if you really think about it. Same as success. What do I mean by that?
When I was running Omega, before the big payoff, I had a business with over 300 people, and a $2 million dollar line of credit. Just to make it interesting the bank had a lien against my house in the event something went wrong. Yep, the place where I lived with my kids. One bad move and boom, goodbye villa, hello streets.
This is no pity party. But it is important to see success for what it is. An arduous journey to get past seemingly neverending obstacles while fending off the competition along the way. It can be incredibly fun and enjoyable. Except when it isn't. And if you want success, you don't get a button to select "fun stuff only". You get the spoils, but you also are in for the headaches and risks.
So yes, success is like sausage, you'd be surprised what goes into it.
But don't let that stop you from taking a bite.
Labels:
Alphabet Success,
commitment,
efficiency,
effort,
goal,
gratitude,
motivation,
profit,
risk,
sausage,
spoils,
success,
winning
Wednesday, October 16, 2013
Outrunning the Monster...
My
parents were sticklers for punctuality. So as a kid, I concocted a
motivational game to get myself home on time. I would imagine a
huge, ugly monster chasing me through the streets of Akron, Ohio.
I'll never forget that adrenalin-propelled rush of nearly flying over
the pavement, feeling the monster's hot, rancid breath (I think it
may actually have been the tire factories) while sprinting just ahead
of his moldy grasp.
Over
the years, my monster has provided the motivation I've needed not
only to succeed, but to thrive in the business world. He has served
me well.
His
dogged pursuit is responsible for both my vocation and my avocation.
The hairy beast chased me through college and graduate school, and
finally into entrepreneurship. And I'm still running, but now for
fitness; and not in Akron, but St. Petersburg, Florida.
When
I decided to start my own private-investigation firm in 1996, the
monster breathed the specter of poverty. My new wife and I were
living in a small apartment, whose rent, like everything else in our
lives at the time, was paid by credit card. The monster helped me
chase after business just to make sure we could eat and keep gas in
the car and a roof over our heads.
He
also spewed the foul odor of self-doubt. I often lay awake at night
wondering how a guy like me could possibly presume to run a business,
especially against older, wiser (I thought!), and more experienced
competition.
But
as I ran faster to escape the monster's clutches (he now sported a
cheap, private-eye trench coat), I found myself learning a lot about
how business operates. One particularly revealing lesson was that my
"competition" was really only a little more gifted than my
monster.
For
the most part, private investigators were what they always had been -
retired police officers, special investigative unit (SIU) guys, or
insurance adjustors. They often worked alone, used manual processes,
and for sales collateral brandished their business cards.
So
while they clung to their Sam Spade model (and, for the most part,
still do), I decided to innovate. While they snoozed between cases
(feet up on the desk, of course), I learned about my marketplace -
the claims and risk professionals who were purchasing investigative
services. With the monster ever in the wings, I talked to people,
read the trade journals, and found out what they really needed from
an investigator.
Then
I decided that when fighting monsters, there is strength in numbers.
So I took on partners, then employees. Every year, university
criminal-justice programs were turning out legions of bright,
energetic graduates, hungry for their first job and looking to learn
the ways of surveillance. Why not hire them, pay them a decent
salary, and teach them the ropes?
And
in order to keep my new employees working, why not find innovative
ways of generating more business - by using what I had learned about
our market, exhibiting at trade shows, producing sales literature
that worked, by advertising, and by constantly generating new ideas
for promoting the business? And why not self-publish a helpful
booklet for clients about how surveillance works?
We
also made a commitment to using the hottest technology to run the
business. (The monster was using none.) We outfitted our field
investigators with the latest in video and wireless technology,
trained them in its most efficient use, and sent them forth to
generate revenue.
But
the real coup d'etat was the Internet. Our business is surveillance,
which generally means video tapes accompanied by written reports.
Our clients are claims and risk-management professionals, who spend
entirely too much of their time on the telephone with claimants,
physicians, attorneys and others.
What
better way to make surveillance information available to our harried
and phone-weary clientele than to offer it on our secure Web site for
them to peruse at their leisure - not only written reports but video
snapshots and actual streaming video of the surveillance as well?
Why rattle them with even more phone calls when e-mail and our Web
site can provide them exactly what they need in a concise form,
exactly when they need it? Why force them to store videotape
cassettes when we can embed the video into the on-line record?
Since
we implemented the technology and juiced up the marketing, the
monster has been quieter. He's not gone; in fact, I still hear his
grunts when I look at our Web site and see how much remains to be
done.
And
poverty is no longer the issue. The business, which now has grown to
85 employees, generated $4.1 million in revenues last year.
But
of course all those great investigators need to be paid, the office
rent is due every month, and the technology doesn't come free.
Where
are my shoes? I can smell that ogre's breath right now.
(This was written by Robert DeRosa and myself in 2000.)
Labels:
carpe diem,
effort,
entrepreneur,
excellence,
experience,
fear,
freedom,
goals,
innovation,
risk,
success,
urgency,
venture
Location:
St. Pete Beach, FL, USA
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