Want to really focus your team and get amazing results?

Set a really big goal and then form a Catalyzing Statement around this goal.

Catalyzing statements hook people emotionally and are the driver that propels individuals towards a challenging goal.

About a month ago I heard  Rick Sapio give several examples.   I would like to share his and then give a fun one that I ran across in Japan this week.

Fed Ex – When It Absolutely Positively Has To Be There Overnight —  If you want a GREAT laugh, watch this FedEx Commercial
Microsoft Bill Gates – I picture a world with a PC  on every desktop and in every home – 1975
President Kennedy – We will put a man on the moon and return him safely to earth before the end of the century.

These catalyzing statements go FAR beyond placing a goal. They emotionally charge us and align us. They emotionally allow us to seek and believe and go forward.

A good example of this is Bill Gates. Prior to making the  unifying statement the goal was clearly set to have Microsoft be the largest software company in the world. Great goal, but where is the emotion and the emotional buy in.  It came when he stated  ” I picture a world with a PC on every desk and in every home.” That inspired us, we visualized this and indeed it enabled the goal.

This past week I have been in Asia. I was able to spend a bit of time in Japan and visited a company in Tokyo called Fujita. From the instant I entered this business I knew it was different. The tone, the conduct of the staff, and the presentation of the board room was simply different. They were focused and clearly were on a mission.  There was not the usual motion that I frequently experience in Japan.   Indeed the meeting I had was successful and at the end of the communication I could not help but poke a bit. I asked the individual I was meeting with to explain more about the company, the founder, and the history. His answer gave it all away. With out a second of hesitation here was his response:

“Fujita’s vision is to bring American culture to Japan”.

Wow, now that is powerful.  That is a hairy, big, audacious, and crazy goal.   “Bring American culture to Japan!”

You see they are not in the hamburger or movie business.  They are not selling clothing. They are not in the import / export business. Those things are simply vehicles.

They are going to change Japan from eating sushi to Big Macs, and guess what…they did.

What I did not tell you earlier is Fujita’s founder  Den Fujita is responsible for bringing McDonalds to Japan. He was also responsible for bringing Toys R Us and BlockBuster to Japan.

As I have considered this, I realized that this type of statement not only motivates us and inspires us, but also allows the company to change and extract us from the weeds when necessary.

Next time you set a big goal, create a catalyzing statement!   Hang on because it will rock your world with what happens if done properly.

In 1989 I helped make my first $2MM business mistake.  I keep this box on my life-trophy shelf to remind me never to make this mistake again.

So what was it we did?

Rich Christiansen $2MM Channel Lesson

We did what so many eager engineering types do–we built a way cool, exciting,  leading-edge technology (digital power line transmission) and then tried to sell it.

We just knew the customers would buy these by the bucket loads.  We would go to the trade shows and got mobbed, so certainly this was going to be a barn burner. Everyone told us we were so smart and this was the coooooolest technology ever.

NOT! Cool technology does not necessarily mean purchasing customers. In 1990 the company went belly up!

I would rather have purchasing customers and profit than some cool little box sitting on my shelf reminding me not to be stupid again.

Better to sell it first and build it second, than to build it first and then try to sell it.

Today I did a BootStrap Business lecture at an Entrepreneurial Launch Pad event.

I love meeting with eager individuals who are on those tender first steps of venturing out into the brave cold and exciting world of creating a business.   However, there is one thing that makes me want to scream every time I see it and indeed I saw it today.

Make sure someone is going to buy it before you build it.

Its All about the channel!

Build It and they will come…NOT!

Save yourself a couple of million $ and let my box be the reminder. Don’t build your own.

It is common for a person to start her or his business as a sole proprietor and at some achieved objective transition it into another business vehicle. Some of those other vehicles are described below.

Porters Points—Boring!

• Carefully review your rules, your gas, your market analysis, and every other step you have taken so far. Where does you idea stand in relation to these legal frameworks? Decide and get to work. But to be sure—
• Talk to your attorney. If you don’t have one, get one.
• Talk to your accountant. If you don’t have one, get one.

That does it for Chapter 6: Boring!  We told you we would be brief and to the point in this section of the book!

Sorry. But however boring this chapter may seem, it is every bit as critical as anything else you’ll read in this book. We promise to keep it on task, to the point, and brief (we’re even skipping Porter’s Preface), so stay with us!

The kind of business structure you establish really does matter. Talk to your accountant. Talk to your attorney. Get this right. Ask questions and insist that your key advisors give you the answers to the questions you don’t know to ask. If you are going solo, it’s pretty easy to choose how to structure your company. If you are partnering, know what structure provides the best tax advantages, and set one up that easily allows decisions to be made and executed.

DISCLAIMER: This chapter does not replace your interaction with two of the three most important relationships you will establish—your attorney and your accountant.

Tomorrow we’ll learn about general and limited liability partnerships.  Hopefully not too boring!