A little while ago I wrote an entry about rewarding yourself. I explained our goal/ reward system here in the office, and laid out our main goals for the summer. I was excited to get some good feedback! I think it’s time to do a little checking and find out if we adhered to our own philosophy, and how it helped us out along the way.

My main responsibility is editing the book and making sure we’re making progress. Accordingly, a first stepping stone or interim goal was to have 5 chapters of the book done and the book proposal outlined and ready to fill in. We wanted to take each chapter (which, at the time, were what Rich and Ron call “mud”) and make sure the ideas were innovative, coherent, and that we were keeping our promises with regard to telling real stories, applicable to real entrepreneurs. The reward for completing that goal was lunch, on the office. The BIG goal for the entire summer was to finish 10 chapters of the book, along with the book proposal, before August 1st. When we made that goal I was to receive a BIG reward: plane tickets home for my wedding celebrations in Massachusetts on August 10th. (John and I are getting married out west, but going home to celebrate with family and friends out east, too!) Other Goals/rewards included: Getting all the office work caught up, for which I received a weekend with Rich’s Z3. Also, Ron finishing the initial white paper project of the summer, after which Rich and Ron went golfing.

The Criteria for the reward system were as follows:

1) Don’t forget to reward yourself! If you set a reward and don’t follow though, you’ll lose trust in yourself and motivation to get things done. 2) Chose something that motivates and inspires you, and vary the rewards so that you always have something to be excited about.

The big announcement today is that YES, we got it all done! 10 Chapters, ready to be added to the first official draft our the book! Along the way we reached the interim goal, and enjoy a nice lunch at Zupas. I have to admit, at that point I was starting to feel a little overwhelmed with the amount of work left ahead. It was a nice time to take a break and appreciate how far we had already come, regroup, and plan specifically how we planned on accomplishing the rest of our goal. For this final push, it was really nice to have a final goal AND a reward to shoot for. I’ve been getting all caught up in wedding preparations and could have easily been very distracted. Instead, I knew what I was shooting for. We had a clear goal outlined and an exciting (very exciting) reward planned. As a result, I was able to push through and do what I had to do to get it done. I can’t wait to fly out to Massachusetts- I can’t believe that we’re already three months down the road with this project! Time to enjoy the reward, and then gear up for another big push.

I’ve been making some phone calls today, doing initial interviews for a position we are looking to fill here at Everest Web. Before I made the calls I made a list of questions to ask the potential candidates. The position requires a wide variety of skills- and honestly, looking forward at how we may be expanding- just might require an even wider variety than anticipated. Hiring as an entrepreneur can be tricky. Rich and Ron have written a few sections of the book on this subject. Their best advice: when you think you need to hire, think again. Rich had an experience where he sold off a few of his businesses and resultantly needed to let a lot of his large team go. For a few months he found himself fulfilling the duties of a fully-staffed office all on his own. Granted, he wasn’t able to take care of things in as much detail as 10 people had, but he was able to maintain the status quo and keep everything going quite well.  What did he learn from this experience?  Sometimes we spend LOT of time and money on people that aren’t necessary.  Nice, yes.  Productive, yes.  Necessary?  No.  Always run at least a person short of what you think you need, and you’d be surprised.  Employees are happier when they are filling real duties and have actual responsibility, and you’ll save a lot of money.

So, taking this into consideration when hiring, you need to ask the kinds of questions that allow you to find out if the applicant a) can multi task  b) is able to branch out and fill holes where necessary c) is excited to learn new skills and be part of a dynamic team environment.  Of course, everyone will say yes to these questions.  So, to find out what they really think, try asking questions like:

What strengths would you bring to our team?

Are there other aspects of the company (outside your own specific responsibilities) that you currently work for that you’ve felt interested in exploring?

How do you feel about collaboration?  Do you like to own and lead a project, or share in the responsibility?

How do you feel about attending seminars/workshops to gain new skills to benefit the workplace?

Ask questions that they won’t have blanket answers for.  Just get them talking!  You can take a look at your own business environment and decide on some specific questions that are relevant to your venture.  First and foremost, this will allow you to get an honest taste of their personality.  Also, you’ll quickly weed out people who simply want a “job;” somewhere they can go, do the same thing everyday, and never have to leave their comfort zones.   I’d be interested in hearing any other interviewing techniques that you’ve used to find multi-skilled, high-energy team members for your venture.

I’m only in the first stages: initial phone interviews.   Bringing them in will add a whole new dimension to your interview and your ability to sense whether or not they’ll be a good match for you and your team.

For the past couple months at Everest Web, we’ve been looking for engineers and designers to add to our team.  Recently, we also put the word out that we’ll be hiring an  administrative assistant.  With the business expanding and more and more work to be done- there should be a few more people in this office than I’ve been accustomed to.  It’s been interesting to watch the prep work.

A lot of care and consideration has been taken to find the right spot for everyone.  We have a suite with 4 offices, two rather large, and two private, in addition to the admin desk up front.  As long as I have been here, Rich and Ron have huddled up in what they call the “War Room,” a room all the way in the back with extensive white board space and a great view.  That’s where all of the heavy lifting is done.  I usually sit sentinel up front- taking care of the basic admin tasks while working on the book.  The other three offices have mostly been empty, aside from a few people making use of them for different projects every so often.  I was surprised when Rich and Ron said that they’d be moving out, and letting the engineers  take the big room in the back.  They’ll split up and go into the empty offices- and when the admin is hired I’ll probably move into another of the large offices, perhaps on my own for awhile- until more writers or engineers are added to the team.

Why, you may ask, is this interesting to me?  I watched as Rich and Ron walked the office and talked over the possibilities.  The office up front is beautiful, with an amazing view- but it’s easy to get distracted with people walking in and out all the time.  Also, with as much work as Rich and Ron do together, I thought it would be a pain to be in separate rooms.  But here’s the thing: do you want to be in a position where you have to resist distraction yourself, or do you want your team of engineers to have to deal with it?  Do you want easy communication with your partner, or would you like your engineers to be able to collaborate and communicate quickly and efficiently?  Although it may be more comfortable to make people work around you (as a business owner, you certainly have the ability to make that happen), it may be more effective to work around them.  Rich always says that we have to keep the engineering team happy, well fed, and far away from other people.  So, they get the War Room, far from the front door and close to the snacks- and Rich and Ron will make a change.

One of the big principles that I’ve learned in the last few months is that finding success in entrepreneurship isn’t always about simply achieving a goal, or ending up where you thought you would.  Actually, success can even include accomplishing things you previously passed over or never even had in mind.  As an example, here’s a little update as to what’s happening around the office. Everest Web has experienced a growth spurt!  Rich and Ron are starting work on new exciting contracts (I won’t say who, but I guarantee you’ve said their names a few times yourself!), and  every day we seem to have a handful of new opportunities to consider.  When they initially started this venture, they choose between three ideas. First, high purpose link building, second, outsourcing software engineers, and third, SEO.  After running the different ventures through the Porter Model, SEO came out on bottom.  However, it was chosen as the absolute focus of the summer because it was a) quick to cash and b) a good use of current contacts. After 4 months, the company is  establishing incredibly sound footholds.  More than that, the resources and contacts from the SEO work are making it possible for Rich and Ron to pursue the other two ideas, as well! So, after thorough analysis, they went with the third best option, and find that options one and two are knocking at the door, asking to be let in!

We just finished reviewing and editing “Juice to the Light Bulb,” a chapter in the book Bootstrap Business. It provides six ways to get ideas flowing with regard to your venture, whether you’re starting from scratch or just trying to keep the momentum up. A principle from the chapter is entitled, “How Did I Get Here?”  In entrepreneurship (or, um, life!) you have to make choices.  Making the correct choice can lead to freedom and the ability to make MORE choices.  An incorrect choice will lead to stagnancy and imprisonment.  Manuvering through choices on your own can be hard, which is why (I presume) I often find Rich and Ron huddled in front of a whiteboard, prioritizing and brainstorming, and why so many entrepreneurs find their way into this office asking for “just a minute” to ask “just one question.”  It happened just the other day.  Someone came by to deliver some paperwork, but before he left wanted to ask Rich a question about handling taxes.  One of the strongest tools an entrepreneur can have is another entrepreneur.  Although both Rich and Ron know and have lived the principles they espouse in their book, it’s nice to have someone else around to make sure you actually have things in perspective, and that your choices reflect past experience and personal beliefs.  This is one of the reasons why we set up this website and continue to develop it, to provide interaction between different people at different stages of their ventures.  It’d be nice if life were cut and dry, and all decisions were final, and achieving one final goal meant total success.  But it doesn’t!  And what fun would that be anyway?

In a section of Bootstrap Business entitled “The Corporate Myth” Rich and Ron discuss reality vs. mythology. Do you stay with your corporate job because it’s more “stable?” Here’s an interesting fact for you. According to the US Department of Labor MLS stats running from 1997 until last month, nearly 175,000 business with more than 50 employees conducted mass layoffs. 19 million people sought unemployment insurance. Here’s the point: If the fact that your job is more stable than your dream venture is the only thing keeping you from jumping on the entrepreneurial bandwagon, make sure you have your facts straight. Maybe it’s time to go for it!

When and how to enter entrepreneurship full time is an incredibly important decision. Getting the timing wrong could really limit how long you get to run your own venture. The entrepreneurial world has the tendency to kick you in the butt a little before you’re able to get going at a good clip. For some people, this kick gets them going faster. For others, it lands them on the side of the road, out of the race, and wishing they had never left the safety of home. Will you last through the startup costs and the trial period?

Honestly, the corporate world might be the perfect place for some of us. You’ve got a level of buffer allowing limited accountability, limited decision making (don’t we all know a few people who love that), and, most likely, a lot of people and a lot of money to work with. Also, perhaps your spouse or significant other doesn’t like the idea of a grow-it-yourself business. Nothing can the kill the satisfaction of following a dream like an unhappy, tense home. There are a lot of variables to take into consideration.

Also, it simply might not be the right time, yet. Bootstrapping your own business can be a little expensive, and there are always bills to pay at home, as well. Nurturing your venture at night and on the weekends will allow you to still bring in enough money to keep afloat, and get yourself set up before jumping in head first. This will be a real test of your mettle. If you can hold down a 9-5 job AND build your own business, I’m willing to bet that you’re committed to that venture. You’ll know pretty quick if the entrepreneurial life is for you, or if you should stay with your day job.

I’m not trying to be an entrepreneurial buzz kill, but here’s the point.  If you want to own a company, it’s worth it to do it right.  If you don’t have the determination or patience or diligence to wait as long as you need to for the right moment and then the temerity to act without hesitation with it’s time, your venture will be short lived.  On the other hand, if you do have these qualities, nothing can keep you from success.