The Will to Grow ™

Don’t Let the Market Lull You to Sleep – "The Market Trap"

As we all know, this economic downturn has been severe and the recovery period has begun but will be long.  This dynamic can create what I call a “market trap.”  If it rains every day for 30 days straight (as it essentially did in NY in June), we come to expect rain and plan for rain.  What if on the 31^st day, it’s sunny?  Or what do you do if it does rain again on the 31^st day? 

What do I mean by market trap?  If your particular industry or business is on the decline (whether in actual dollars or growth percentage), you can be lulled into riding the market down with your competition.  I don’t mean to suggest there’s a magic bullet out there for each of us to miraculously achieve stellar growth in this economy.  However, I believe there is significant opportunity in, yes, this market.  I had the privilege of meeting Carl Icahn, an icon (no pun intended) in the investor community and Ken Langone, co-founder of Home Depot.  Both had similar messages – not of dire straights and despair but truly of hope and opportunity.  They weren’t being artificially optimistic.  Their message, which I believe in whole-heartedly, is that there are opportunities right now to outperform the competition and your industry norms.  But they are not visible to everyone.  They have to be discovered, thought-through, and executed quickly.

This is what I’m currently working on with my team at Axispoint.  How we can outmaneuver the competition, create growth today, and be the best partner we can for our clients while it’s raining - all the while, building the company to achieve superior returns for employees, customers, and shareholders when the economy is truly bright once more.  Do not let this market trap you into the “wait and see” approach.  Do something.  Change.  Get better.  Find your opportunity.

Embracing Relationship Selling – Don’t be Afraid!

Going back to Business 101, companies need revenue to be successful and, unless you operate a lifestyle business, companies require growth (especially publicly traded firms) to have long term viability.  Also unless you have a specific product or have intellectual property that doesn’t need to be broadly sold/marketed/distributed, revenue comes from selling and making “rain”.  There are numerous business and sales books on effective rainmaking and I am not going to delve into the psychology of effective selling.  It is clear that the easiest form of revenue generation is relationship selling.  Relationships are paramount to building a successful business whether it be client generation, raising capital, hiring resources, etc., because the people that know you and like you, know what you’re capable of and most importantly trust you.  I can’t say it enough – your relationships trust you because you have built some form of personal capital with them.

So why are so many executives, salespeople, marketing managers and others afraid to engage the people they know, trust and care about?  Quite honestly, I see they are out of their comfort zone and that makes them less confident and uneasy.  This reluctance and hesitation exists in my own firm.  I have some very talented executives who have yet to face that uneasy gene within themselves and embrace relationship selling.  The other interesting item is that many of you don’t realize who you really know.  You know many many more people than you think.  Even if someone within your inner circle can’t directly engage you, they may be a key influencer with dozens or even hundreds of others.

To truly grow a business, executives and other key resources need to embrace their fears and learn to make an uncomfortable experience more routine.  You may feel uneasy at first, but once you fly out of the nest and embrace those who know you and trust you most, your companies will be positioned for exceptional growth because you will have built a rainmaking and sales engine.

Success Begins Within – Make Your Own Magic

There are many talented people in this world, yet only a handful achieve their goals and objectives.  There are numerous factors why, including things out of your control such as timing and market dynamics.  However, I have seen very special people miss the mark because of issues and characteristics that they directly influence.  In other words, some feel unfulfilled because they underperformed in a certain area that affected their ability to succeed.

The definition of success can be vastly different among us.  It can be to significantly grow your firm and take it to the next level; to be the best at your function within your firm; to achieve a specific corporate goal – say a revenue target; to fundraise for an important cause meaningful to you to help the world be a better place; to be a better parent; or to simply excel in a particular sport.  How can you achieve your goals and how do you drive to success?

Unless you get extremely lucky (which does happen on the rare occasion, though there is something to be said for making your own luck), success begins within yourself.  In the business world, I have seen brilliant people with considerable talent fail time and time again and not succeed in achieving their objectives.  On the other hand, I have witnessed ordinary people achieve extraordinary results.  Why the disparity?  The overwhelming majority of “success” stories (regardless of the objective) began with one simple word – will.  I have found that most successful people (those who met their objectives) have and had the will to make it happen.  In many cases, they met significant obstacles along the way and did whatever it took to break down the barriers to success or go through the appropriate roadblocks. 

Successful people don’t have all the answers and make mistakes during their journey.  However, they do not accept ultimate failure, learn from their mistakes, and truly embrace “magic making” moments.  At Axispoint, my teammates often hear me discuss making magic.  What I mean is the ability to channel the will that’s inside you to achieve extraordinary things.  When people tell you it can’t be done, you take that to heart and use the power of that negativity as a fiery motivator to help you achieve.  If you have passion, energy, smarts, work ethic, and the will to succeed, nothing can stop you, not even external influencers such as the economic downturn or global events or even a sports injury.  The most successful people embrace these external influencers, even if it means a near-term setback, and use their will to eventually overcome and drive to ultimate success.  If you feel you haven’t done so already, now is the time to Make Your Own Magic!

Culture is Everything

A lot of business and organizational behavior gurus discuss and analyze the important of culture in building a successful business.  When I first went to business school and learned about “corporate culture”, I thought it sounded quite hokey and soft especially since I was more analytical like most business school students.  With years of real world experience (my father-in-law calls it getting your “curls”), I have learned that culture is everything. 

What does culture in a company setting really mean?  To me, it is the common thread – the single most important thing or multiple things - that bonds the people in your organization.  And what many often do not understand is that having a strong corporate culture does not mean you have the same cookie-cutter people working for you.  For example, at Axispoint we are not an homogenous group.  We have people from all walks of life from varied backgrounds and with wildly different interests.  However, there is a common bond that exists in all Axispoint teammates, and it is what makes our company hum (“differentiated”).  If you were to prick the fingers of our teammates, you would find three “like” characteristics: an unending commitment to caring – both customer and employee; complex problem solving skills; and a sense of scrappiness which is a doer mentality above and beyond entrepreneurism. 

Why is this important?  In our case, Axispoint’s culture has made us what we are today.  By really caring and focusing on what our customers and employees need, we have achieved incredibly high customer and employee retention (which combined with a strong sales model is a self-fulfilling prophecy for growth).  Being able to solve our clients most complex issues has created increased customer stickiness.  Our team’s scrappiness has built further differentiation by being a firm that cannot only think strategically, but can roll up our sleeves and get the work done (“execution”).  All three of these characteristics combined comprise Axispoint’s corporate culture and have created the firm we are today.  Our challenge is to maintain, nurture and embrace our culture as we continue our corporate expansion.  This is certainly not a fait accompli and requires continual monitoring to ensure not the “same” people, but the “right-fit” people are hired as we grow.  Culture is not simply important – it defines the organization.  Culture is everything.

Take a Break and Think

I know a lot of senior executives in different industries, and they often share several common characteristics: intelligent, driven, Type A personality, 24/7 work ethic, continual Blackberry usage, etc.   Many folks are such go-getters, over time they structure a standard schedule and march down the path each day to get things done and check the boxes on their to-do list.  I am often guilty of this.  I can get so busy that I try to do everything in my path to help Axispoint grow and be successful.  Sometimes however, we need to take a step back and think.  

I recently had an opportunity to take a last minute weekend trip with one of my friends; it was very spur of the moment and I had less than 24 hours to pack.  It was a very relaxing and rewarding couple of days where I was able to read a little, converse about global business and other topics, and most importantly think.  Thinking is underrated and often has a negative connotation (e.g., “he’s a thinker, not a doer”).  But taking a step back at appropriate times and expending the effort to think through the issues your business faces can be the difference between being successful or unsuccessful.  Spending some quality time can lead to breakthrough ideas, thoughts about vision, important modifications to the business, deviations in strategy, product innovation, hiring decisions, etc.  I’m not saying that spending a few days away can solve all of your company’s issues, but relaxing and focusing your mind can help your business in ways your Type A personality alone cannot.

Relationships Matter

I recently spoke at my undergraduate alma mater, Clark University, in Worcester, MA.  One of the questions students repeatedly asked me is: what is the secret to success in business?  I told them that in my humble opinion, relationships are not only the secret to success in business but also in life.  Relationships are built one person at a time and depending on the individual may involve several potential factors such as: a connection, shared interests, shared beliefs, likeability, caring, love, goodness, camaraderie, etc. 

My entire career has been built around key relationships.  I truthfully never wanted to be around people I didn’t like or respect.  Life is far too short to be miserable.  At an early age, I was blessed with family and friends that really cared and of course I cared back.  I liken it to the movie “Good Will Hunting” when Robin Williams talks about how Chuckie (Ben Affleck) would lay down on train tracks for Will (Matt Damon).  I was lucky enough to have those relationships at an early age and build them with others over the years.  Relationships are tricky as people can encounter various issues with one another.  Yet if you maintain certain key characteristics, such as high integrity and caring, I find most relationships can persevere through adversity.

In thinking about this question with Clark students, my other realization is that I have not purposely set out to build business relationships over the years.  It just happened.  I certainly am drawn to people, and all kinds of folks at that.  I like people with varied interests and who are not always exactly like me.  But I now notice that I am drawn to those who are passionate and care, probably my two favorite traits, regardless of their personal and professional pursuits.  And even though unintentional, I have developed key relationships over the years and continue to do so in my business and personal life.  I clearly am passionate about people, and I believe relationship building is a secret to success in both business and life.

Growth During a Down Market

The economy has deep, fundamental problems that have resulted in a recession.  This is old news by now, and we are bombarded with depressing market news daily from different parts of the world telling us that things are getting worse, not better.  But Americans are not the kind of people who stay in a bad place for long.  We like to fix problems, not dwell on them – and we are impatient.  The real question is not “how bad is it or how bad will it get?”  It is “what are we going to do about it?”

What should you do in a down market?  First, and foremost, you have to be smart.  Second, you have to work harder than ever before.  The “work harder” part most people get, but it’s the “work smarter” part they sometimes miss.  Both are key attributes, but being smart means deciding what your strategy should be.

For many firms, the strategy begins and ends with cost cutting.  This is well intentioned, but ultimately insufficient in the long run.  Many firms hunker down, cut costs, and try to gain efficiencies in order to maintain profits, stop the bleeding, and in certain cases, simply survive.  The last point should not be taken lightly as there inevitably will be many corporate casualties particularly if we have a lengthy recession.  We are already seeing this today in the financial sector, and other core industries such as automotive are experiencing significant issues.

So is hunkering down and protecting the flanks while downsizing the firm and finding efficiencies the right way to go?  Leaders in companies and other organizations have to stay smart and look at ways to reduce costs and gain efficiencies.  That is prudent at any time, but particularly important when the market is suffering.  However, it’s not enough.  At Axispoint, we are always looking for ways to gain efficiencies, improve our processes, and be better than the competition.  But we also fundamentally believe in growth – and here’s the secret to a successful strategy in a recession – there is no better time to think about growth than during a downturn.  That’s when the future winners make changes, make investments, place bets, and strengthen their position in ways that will allow them to leapfrog the competition when the economy turns.

I believe that in addition to reigning in expenditures, you need to be proactive and highly creative to figure out how to best take advantage of opportunities in a down market.  And guess what?  Real opportunities exist, but they usually don’t just fall in your lap.  You have to seek and nurture them and grow one new customer at a time.  Let me be more specific.

At Axispoint, we focus on three things: Customers, Solutions and People.  We begin with our existing clients, staying close, helping them think through their most complex problems, helping them find new ways to grow revenue, cut costs, and improve efficiency.   We target one new client at a time, earning their trust (which is not an entitlement by the way) and becoming their technology partner, not simply someone that sells them technology, but someone who helps them figure out how to leverage technology to achieve their business goals.  We create “Must Have” Solutions (versus Nice to Have) that help our clients take advantage of cutting edge technology to solve real problems that are critical today and tomorrow.  And most importantly, we focus on people.  We are a people business and our existing customers and employees are our life blood.  By focusing on customer needs, must-have solutions and people and caring, we will help our clients through these difficult times, and by doing so attempt to grow our company.

I don’t yet know the level of growth Axispoint will achieve during this current downturn.  But I do know that we will not sit idly by, hunker down and hope for the best.  We will use our brains, our passion, our energy and our will to do our best to grow the firm while achieving efficiency gains.  In this way when the market turns and improves, whether that be six months from now or three years from now, we will be in a far better position than our competition and we will then grow to unforeseen levels in our company history.  And though it will not be easy, we certainly will be stimulated and have fun through the journey.

Happy New Year!

Though I know the pundits are predicting a rough start to 2009, I for one am looking forward to the New Year.  I believe that continual negativity begets more negativity (we are constantly bombarded with bad news).  Of course, we have to be realistic and face our personal and professional challenges, however I feel particularly hopeful this year.  Maybe it’s because I had a great holiday season with my family, or I see potential when others see problems, or maybe it’s due to a new administration.  Whatever the case, I am excited about 2009 and wish each and every one of you a fulfilling, successful, healthy, happy and prosperous New Year!

Obama - The Tech President

History has been made and Barack Obama will be the next President of the United States. Never in the history of this country have we seen a presidential candidate use the power of technology to the degree he did to help win an election. Let’s be clear – technology didn’t win the election, Barack Obama did, but technology was certainly an enabler. President-elect (“PE”) Obama and the Obama for America campaign used the power of the Internet, web 2.0 technologies such as blogging, automated communications tools and the like to create a true grassroots campaign. His use of technology allowed PE Obama to make his message of Change viral and enabled a groundswell and campaign to be built block by block and community by community rather than the traditional state by state organization. This was critical because PE Obama was not nationally known. Essentially, his use of technology allowed PE Obama to attract and engage with more donors and a younger generation than any candidate has ever experienced.

Why should Barack Obama’s technology savviness matter? It is much easier to be an advocate for technological change if you actually understand and use technology. PE Obama gets it. He has been living it. He knows the power of technology and what it can mean and do in real life situations.

I am hopeful for big ideas and real change when it comes to government’s and corporate’s use and investment in information technology. The President-elect can show leadership in technology through action and example. The commercial technology sector has to operate on its own but if our leaders are technologically savvy and demonstrate thought leadership, companies will invent and invest in technology that will lead our country to long-term sustainable growth. This is key as I truly believe technology is not only an enabler for change, but an enabler for growth.

Much needs to be done. There are still places in America that don’t have the technology infrastructure such as broadband connectivity and wireless that are necessary for growth. Many companies are using antiquated technologies that hinder their ability to effectively communicate internally among employees and externally with their customers. Now is the time for America to be the technology powerhouse it can be and lead the world from a recession back to growth and prosperity. We need investment in infrastructure and wireless; we need to be at the forefront of Web 2.0 technologies and beyond; we need to get our companies to adopt social networking technologies that many of our employees have already embraced in their personal lives; we need to not only grow revenue but gain efficiency through technologies such as VoIP, virtualization and automation; we need to develop applications that truly allow our companies and government agencies to compete in a global economy; we need to focus on green power and energy efficient computing; and we need to embrace technology in industries, such as health care, alternative energy and education that will really make a difference in our lives.

Even in a down market, the future looks bright for technology and long term economic growth, particularly with a new administration that gets it and knows its value and importance. Can we work with President-elect Obama to bring this technology innovation to bear and move our country forward? Yes we can.