Looking Upwards

“For everyone of us that succeeds, it’s because there’s somebody there to show you the way out” Oprah Winfrey

There are many ways that people show others the way, both directly and indirectly. And, many people have allowed others to stand on their shoulders, sometimes even without knowing, simply by teaching others what they know or by documenting their observations, thoughts, insights and discoveries for others to read.

A quick way for us to stand on the shoulders of giants is to examine what’s been done before by reading about and listening to the experiences and lives of those we value and respect. You never know what bright idea you could come across, or what problem could be solved now because the time is right and the technology now exists.

A review of several books on creativity, inventions, discoveries and great thinkers and scientists who have changed the world, books such as Discover Your Genius, Aha! 10 Ways to Free Your Creative Spirit and Find Your Great Ideas, The Art of Thought, The Art of Thinking, The 100 Greatest Inventions of All Time, 100 Discoveries: The Greatest Breakthroughs in History, suggest that great thinkers have certain traits in common.

Leonardo da Vinci, Francis Bacon, Sir Isaac Newton, Charles Darwin, Gutenberg, Copernicus, Albert Einstein, Benjamin Franklin, Marie Curie and Alexander Fleming, a few of the great thinkers who made discoveries, and/or created products that influenced/changed the world, had the unique knack to do many of the following:

• Reflect
• Open to experiment
• Keep record of research
• Steely determination: impossible was not an answer
• Open minded
• Childlike sense of play
• Curious
• Voracious reader
• Read/study broadly
• Observe, detect and collect facts
• Think independently
• Take breaks to reenergize
• Total absorption in subject
• Have imagination 
• Have vision
• Didn’t reinvent the wheel – built on present and past knowledge
• Look at the limitations of old inventions and devise a solution
• Modify present technologies for other uses
• Make connections between two different things
• Combine theoretical knowledge with practical skills
• Pay attention to detail
• Give vital ideas the opportunity to take root and grow

How many of these traits do you have? And how many could you acquire with concerted effort? If you re-read yesterday’s blog post you will notice that some of the above traits are similar to some of the activities mentioned by survey respondents.

All of us are capable of generating our own great ideas. Read widely, reflect on life, travel to places that you’ve never been before, eat foods from different cultures, interact with nature, think about problems that need solving and work on ways to solve those problems. Immerse yourself in many activities and create new experiences for yourself. We can learn from the experiences of others, and we can use the words of others as Invisible Mentors to help us make progress in life. We can stand on the shoulders of giants!

What are your thoughts? How can you build on this concept?

Related Post: Standing on the Shoulders of Giants (Part I)

Photo Credits: Avil Beckford

The Sky is the Limit

 Every successful product and service started with a great idea, but where do great ideas come from?

About five years ago, by way of an email survey, I decided to explore the concept of great ideas. I asked the following questions and twelve people of varying backgrounds took the time to share their views.

1. Where do great ideas come from?
2. Do great ideas come only to some people?
3. How will you know if you have a really great idea?
4. What constitutes a great idea?

Here are the thoughts of survey respondents about what a great idea is:

An idea that gives someone a new perspective or way in which to see the world
Something that helps mankind to create, evolve or develop in some specific way
Fresh, in the sense that I haven’t heard it before and it offers a solution to a challenge that may be long-standing or a challenge that I may not even be aware of yet
An idea that fills a need that is greater than personal self interest; a need that will serve others be they constituents, shareholders, stakeholders or the public at large

When it came to determining if there was a process for generating ideas, the responses were different, and it showed that there wasn’t a clear process for generating great ideas.

Pray and meditate, knowing that the answers will come when the time is right
Respond to a stimuli that starts me thinking which results in a new idea
Read the best that has been thought and said about things that really matter, talk to thoughtful people about things that really matter, spend time reflecting on things that really matter and prepare the soil as best as you can
Ideas are always out there. You just have to put two different ideas or thoughts together to create something new
Sit quietly and wait for them [ideas] to come to me from the depths of my subconscious
Brainstorm everything I am thinking about on a piece of paper, then look for ideas that will connect with those ideas using the internet, newspaper, books and so on.  Look at the context in which you want to use the ideas then add, subtract or combine ideas, and once you have a great idea look at how to implement it
Think about the situation and think about the best possible solution, even if it’s an impossible solution

Great ideas came to respondents at different times. One respondent had a Eureka moment while sitting in church watching and listening to a group of musicians. For others it happened immediately after praying and meditating, talking and trading insights and reading a book on the subject matter. For others it happened after a process of thinking and visualization.

So, how do you know when you’ve got a great idea?

You have a gut sense that the idea will help you fulfill the triple bottom line; best self, best work and contribute to my best world
It comes as a revelation. It gives you an understanding of something
It comes back into your mind again and again and you can’t ignore it
When other people are excited by it and want to get involved
Some great ideas come before their time. They won’t succeed because of conditions, circumstances, attitudes, belief and so on. Success or failure alone is not the judge.
When you feel bliss in its execution
You become very excited and can see the possibilities that can generate from the idea. You know that your idea is good when you see the entire picture and everything becomes “crystal clear”
When everything is in sync, your mind, body and your heart

“Everything has been thought of before, but the problem is to think of it again,” says Johann Wolfgang von Goethe. Is that true? Where do your great ideas come from? How will you know when a great idea is staring you in the eye?

In Part II of Standing on the Shoulders of Giants, I will delve more deeply and highlight the common traits of the great thinkers and scientists who have changed the world. And it should not surprise you that they built on the work of others.

Photo Credit: Avil Beckford

No related posts

Any professional who aspires to navigate up the corporate ladder, especially in belt-tightening times, must develop intellectual power. The fastest way to develop intellectual power requires reading the right books which is akin to eating. Some books have to be chewed, some digested and others savoured.

Tim Sanders, former Chief Solutions Officer at Yahoo! Inc.  in his book Love Is The Killer App, recommends that you use the 80/20 rule. Spend 80 percent of your reading time on books and 20 percent on articles, newspapers and so on. Books give more detailed knowledge on any subject than articles do.

Before reading, develop a reading plan and identify your purpose for reading. Is it for entertainment, for information or to further your knowledge? Think about how you can apply what you are reading to improve your personal and professional life. When you read, have a pen, notepad and highlighter to take notes and capture ideas that may percolate.

Why Read? 7 Reasons Why You Cannot Afford Not to Read

1. Builds intellectual power: Reading widely allows professionals to learn about different concepts and gain insights, which builds intellectual muscles, enabling them to shine in conversations
2. Builds verbal power: Reading extensively introduces professionals to words they usually would not come across in their everyday interactions. And, research by the Johnson O’Connor Research Foundation found that vocabulary correlated with executive level and income
3. Discovers new ways of thinking: Authors who write thought provoking books frequently introduce readers to new ways of viewing the world
4. Develops critical thinking skills: Reading demanding and difficult text requires focus and concentration, forcing professionals to think about what they are reading
5. Keeps the mind active: Professionals who interact with the words on the pages  are engaged, keeping their minds active into their senior years
6. Discovers/Builds on ideas: After Charles Darwin and Alfred Russel Wallace independently read Thomas Robert Malthus’ Summary View of the Principle of Population, they both understood how evolution worked. For Darwin, the rest they say is history. Galileo built on Copernican’s work and Newton built on Galileo’s work and the field of astronomy was born. More recently Amazon juggernaut Jeff Bezos after reading that the Internet was growing 2,300 percent per year wondered how he could use the information. He then looked at the top 20 catalogues to see which would translate best to an online business and as a result Amazon was formed.
7. Builds the power of communication: All of the above reasons enable professionals to communicate with power, both orally and written because they have a well-fed mind.

Consistently reading the right books and the right articles allow professionals to tap into their inner genius and promote a personal growth regiment. Where will the idea for the next “big thing” come from? And more importantly, will you be the person to find, develop, and implement the idea for the next “big thing.” Keep reading!

Related Resources

Building Intellectual Power One Book at a Time

Photo Credits By Avil Beckford

Grand Etang Forest Reserve, Grenada

The past five years have often felt like I was a runaway train heading for derailment. There were far more valleys than peaks. My bread and butter client disappeared overnight as a result of being acquired by a firm with a very different focus from theirs. Many other projects disappeared and suddenly I was without a safety net. Ninety percent of my income came from that one client.

I scrambled and tried to make it work with little success, until I finally learned to let go. I let go of the control freak within me, and I let go of the intense fear that I was feeling. Realization came crashing down like a cement wall; I no longer enjoyed what I did for a living and felt trapped. I had been feeling that way for a long time but refused to acknowledge those feelings.

My life now felt like a threadbare garment that had seen better days. I often wondered how I would go on. I was stuck in a familiar place that was not so comfortable. I looked at my life and compared it to a large project that’s overwhelming at first. Whenever that happened I would take on bite sized portions, and in no time the project became bearable. So, I viewed my life like one of my research projects taking one step at a time, and suddenly my life seemed less daunting.

And like a research project, I conducted a needs assessment, but in this case I was assessing my life. During this period of darkness, I became more self-aware and wiser. I learned that I didn’t have to discard my research skills, because they would be critical to whatever I decided to do. I learned that even though you are very good at something doesn’t mean that it’s your calling.

I spent a lot of time in solitude reflecting on my life and evaluating everything.  I became wiser and more aware of myself. I learned to be easier on myself. Despite the tough times, I still managed to write my first book Tales of People Who Get It and its companion workbook, Journey to Getting It. I marvel now at how much I accomplished even though I felt like I was going nowhere fast.

I experimented with writing poetry, short stories and about life in Jamaica. I was transported back to a simpler time when I would go to the market with grandma on Saturday mornings. I re-experienced happiness. It’s amazing how it took an adversity, the loss of my safety blanket to explore what would really make me happy.

Each day, I take one step closer to the life that I want to live. It’s not easy, but one step is all that I can take. The pieces in the jigsaw puzzle of my life are fitting into place and for the first time in my life I feel as if I am going exactly where I want to go, and exactly where I need to go. Here is one of the poems that I wrote during my time of transitions.

The Square Peg

All his life he tried to fit in,

A square peg into a round hole.

All his friendships were superficial at best.

He worked hard at being liked,

Always being a people pleaser – the “yes” man,

And the “go-to-it” guy.

He catered to everyone else’s needs,

Except his very own.

One day he wised up,

And took stock of his life.

He realized he could no longer,

Continue living his life this way.

For the first time in his life,

He stopped trying to fit in,

And working so hard to be liked.

In the blink of an eye, like a flash,

He was surrounded by square pegs.

All this time he wasted,

When all he had to do,

Was simply be himself.

I believe that we can learn from the experiences of others. And I believe that we can use the words of others as Invisible Mentors. What lessons have you learned from others? Does the poem resonate with you? Do you work very hard at fitting in? How do you deal with adversity?

 This post is an entry in the What I learned from Adversity Group Writing Project hosted by Robert Hruzek, Middle Zone Musings.

Photo Credits: Avil Beckford

Why do I keep on making the same mistakes over and over again? You would think that I would have learned by now.

 When you read Autobiography in Five Short Chapters, you find yourself  laughing, not because the poem is funny. You are laughing at yourself. You feel a connection to Portia Nelson’s words. She is speaking your words. 

I certainly felt a connection with her! She clearly articulated what I was feeling.

You feel connected to the author because it takes you forever to get it right. But one day you finally get it, perhaps by then the pain is too much for even you to bear. Or perhaps you are now more self-aware. The reason doesn’t matter because you have finally learned from that particular mistake.

Autobiography in Five Short Chapters

by Portia Nelson

 Chapter 1

I walk down the street.

There is a deep hole in the sidewalk.

I fall in.

I am lost …. I am helpless.

It isn’t my fault.

It takes forever to find a way out.

Chapter 2

I walk down the same street.

There is a deep hole in the sidewalk.

I pretend I don’t see it.

I fall in again.

I can’t believe I am in the same place.

But it isn’t my fault.

It still takes a long time to get out.

Chapter 3

I walk down the same street.

There is a deep hole in the sidewalk.

I see it is there.

I still fall in … it’s a habit… but,

my eyes are open.

I know where I am.

It is my fault.

I get out immediately.

Chapter 4

I walk down the same street.

There is a deep hole in the sidewalk.

I walk around it.

Chapter 5

I walk down another street.

 Portia Nelson, 1920 – 2001, There’s a Hole in My Sidewalk

As I write this post, and read the poem again, I notice something for the first time, and make a connection that I didn’t make before.

“…I walk down the same street. There is a deep hole in the sidewalk. I pretend I don’t see it. I fall in again. I can’t believe I am in the same place…”

 The quote attributed to both Einstein and Bejamin Franklin pops into my consciousness, “Insanity is doing the same thing over and over but expecting to get a different result.” We are in the same place because we simply haven’t made any changes. How can we expect a different result if we keep on doing the same thing the same way?

We no longer have to walk down that particular road in life because we have options. We can learn from your mistakes, or not, the choice is entirely ours.

What emotions does Autobiography in Five Short Chapters evoke? What lessons can we learn? What does this poem remind you of?

The first time I read this poem it moved me deeply. So much so that I secured permission to use it in my book Tales of People Who Get It.

Autobiography in Five Short Chapters is from the book There’s a Hole in my Sidewalk, pp 2-3.

“A wise man learns by the experience of others. An ordinary man learns by his own experience. A fool learns by nobody’s experience.” Vern McLellan

The above quote by Vern McLellan sums up the purpose of The Invible Mentor Blog which is to help people learn from the experiences of others mainly through interviews and books. We present David Gray, Your Invisible Mentor, DSG Associates http://www.davidgraycoach.com.

 Avil: What’s a typical day like for you?

David: A typical week-day starts around 7:30 am with a breakfast of home-made muesli.  I very seldom miss breakfast.  While I eat, I respond to emails. Then it’s off to meet my clients.  When possible, I grab a quick lunch.  Then in the afternoon the consultation process continues with my clients.  In addition to my own practice www.davidgraycoach.com I work on large firms’ Career and Coaching delivery contracts, so there is seldom a dull moment.  By 7 pm I am usually home and enjoy spending a couple of hours with my wife, Anne, sharing a laugh while we cook and eat dinner and then settle in for a couple hours of reading or TV.  By 11 pm I am back at the computer responding to emails.  By 1 pm I am generally in bed. 

Saturdays and Sundays are catch-up days.  I might see one or two clients on a Saturday, but for the most part I enjoy doing domestic chores (yes, I am that rare male who actually enjoys doing cooking, laundry etc., as I find it very relaxing.)  For exercise I swim at the Miles Nadal Jewish Community Centre at Spadina & Bloor where I am a member.  I try to fit some yoga in at the Yoga Sanctuary at College and Yonge, and I do a stretching and Pilates routine.

  Avil: What does it take to succeed in your field?

 David: To be successful in my field one typically needs empathy, compassion, a conscientious work ethic and a background in HR.  However, to be truly outstanding one additionally needs a great degree of life history in a variety of business settings as well as a high degree of intuitive and innovative intelligence in order to be able to work with people from numerous diverse backgrounds who are each struggling with very individual career and life challenges.  In a word, one needs wisdom.  And typically, that can only be accumulated over a long period of time after encountering a variety of challenging situations in one’s own career and life. 

Avil: What are the three greatest threats to your business success?

David: Fear, procrastination and indecision.  I focus very consciously and creatively on potential available solutions to whatever current challenge I am facing in order to banish those threats.

 Avil: What do you observe most people in your field doing badly that you think you do well?

David: I tend to think way outside the existing structures and definitions concerning how to help people break-through to new levels of consciousness in both their business and personal ways of dealing with challenges.

Avil: Tell me about your big break and who gave you.

David: My big break was convincing my wife to marry me.  That relationship has been the foundation for all of my business success.

Avil: Describe one of your biggest failures. What lessons did you learn, and how did it contribute to a greater success?

David: My biggest failure was in not recognizing or having confidence in my own potential as a young adult.  As a result, I worked at manual labour and other mundane jobs while other fellows were going to graduate school.  Eventually, I wrote the LSAT (pre-law exam), scored in the 93rd percentile and realized I was actually quite bright. That gave me the confidence to do an MBA, go into Business & Technology consulting and then enter the Leadership and Career Coaching fields.

Avil: What has been your biggest disappointment in your life – and what are you doing to prevent its reoccurrence?

David: Not having children.  My antidote is to live my own life to the full.

Avil: What’s one of the toughest decisions you’ve had to make and how did it impact your life?

David: The toughest decision I have had to make was to walk away from a friendship of many years that had turned sour.  To this day I feel the loss, but despite my best efforts there was no way I could discover to turn the situation around.

Avil: How did mentors influence your life?

David: Mentors have influenced my life more by their actions and their own ways of conducting themselves rather than by any specific mentoring per se.

Avil: What’s one core message you received from your mentors?

David: Establish trust by being principled and doing what you say you will do.

Avil: What process do you use to generate great ideas?

David: Take the situation, consider the conventional wisdom and then try to turn it on its head and see what comes up.  In other words, think in a consciously contrarian style.

Avil: Which one book had a profound impact on your life?

David: Hero of a Thousand Faces by the great mythologist, Joseph Campbell.  He taught me to ‘follow my bliss.’

Avil: If you were stranded on a deserted island, what are five books that you would like to have with you and why? Give a brief summary of each book

David:

• Don Quixote, by Miguel De Cervantes:  The first modern novel, this book revolutionized the imaginative approach to the then core myth of Chivalry, itself a central concept in most European’s self-construct.  This book reminds us never to take at face value the assumptions of the society in which we happen to live because of vagaries of our birth in a particular geographical space, social context and time. 
• The Shield of Achilles: War, Peace and the Course of History, by Philip Bobbitt.  An erudite and sweeping review of European history until the 19th century and then an analysis of world history in the 20th and early 21st centuries viewed from the dual perspectives of Law and War.  This book provides a context within which to grasp the complex geopolitics of the world we currently live in. 
• The Poetry of Robert Frost: All eleven of his books – complete, edited by Edward Connery Lathem.  This book reminds one that the only life worth living is one including a degree of reflection. 
• The Measure of a Man: a Spiritual Autobiography, by Sidney Poitier.  This book teaches a man how to live as a man.  In a day and age when men are increasingly out of touch with their essential masculinity, Poitier’s story of his personal challenges, triumphs and philosophy of life reads like a melodic breath of very fresh air. 
• Lincoln’s Melancholy:  How Depression Challenged a President and Fuelled His Greatness, by Joshua Wolf Shenk.  A biography that reads like a detective novel. The real Lincoln is far more fascinating and inspiring than the manufactured American myth of the man.  Like Poitier’s book, this one provides insights into what is possible to achieve and, far more importantly, what it means to live life as a man who is true to his own vision, come hell or high water.  Interestingly, in Lincoln’s case it was the hellfire of a bullet, whereas for Poitier it was a near-death experience with high water.

 How do you resolve the challenges in your life? If you had to live your life over, would you do things differently? How do you define success and what is your formula for success? To find out David’s answer to these questions and a lot more, click here to download the entire interview.

Let us know what you think. Do you agree with David? Which aspects of his interview resonates with you the most?

About David Gray: David has advised executive clients based in Canada, the UK, Europe and Asia.  In addition to his own consulting practice, David serves as President of the Board, Toronto Chapter of the Association of Career Professionals International (ACP International), and is a member of the Strategic Leadership Forum (GTA).

My Wage

I bargained with Life for a penny,
And Life would pay no more,
However I begged at evening
When I counted my scanty store;

For Life is a just employer,
He gives you what you ask,
But once you have set the wages,
Why, you must bear the task.

I worked for a menial’s hire,
Only to learn, dismayed,
That any wage I had asked of Life,
Life would have paid.

The Go-Giver by Bob Burg & David Mann doesn’t present any new information, but it presents old information in the form of a fable, that’s a reminder for you. At 127 pages, The Go-Giver is an easy read.

We all lead such busy lifestyles and are constantly bombarded with new information, so we inevitably forget things that we are supposed to know and even practice. The Go-Giver is a gentle reminder to us for some of the things that we should be paying attention to. One example is the importance of paying attention to your thoughts because you usually get from life what you focus on. According to Pindar, one of the key characters in the fable, “Most of us have grown up seeing the world as a place of limitation rather than as a place of in-exhaustible treasures… You get what you expect… What you focus on is what you get… Ultimately, the world treats you more or less the way you expect to be treated.”

A lot of emphasis is placed on service and the book suggests that the goal of a great product or service is to provide higher quality than any money could possibly pay for. Ask yourself these questions about your product or service:

• Does it serve?
• Does it add value to others? And if yes,
• Does it make money?

The following Five Laws of Stratospheric Success summarize what The Go-Giver by Bob Burg & David Mann is about.

 Five Laws of Stratospheric Success

1. The Law of Value: your true worth is determined by how much more you give in value than you take in payment
2. The Law of Compensation: your income is determined by how many people you serve and how well you serve them
3. The Law of Influence: your influence is determined by how abundantly you place other people’s interests first
4. The Law of Authenticity: the most valuable gift you have to offer is yourself
5. The Law of Receptivity: the key to effective giving is to stay open to receiving

5 Great Ideas

1. The secret to success is giving – make it a way of life – givers attract
2. Making money isn’t a goal that will make you successful. The truly successful people, the ones that are successful in all aspects of their lives, focus on sharing and giving
3. Appearances can be deceiving, it’s like the old adage, never judge a book by its cover
4. People will do business with and refer business to those people they know, like and trust
5. There are three universal laws for working: to survive – meet your basic needs, save – expand your life and go beyond basic needs, and serve – make a contribution for the greater good. Strive for the last reason

Words of Wisdom

It doesn’t matter what your training, education and skills are, no matter what area you are working in, you are your most important commodity. You are the most valuable gift that you can give to yourself, so start appreciating and accepting you.

It’s a nice book and easy read, so if you have the inclination to get a refresher on some old success principles pick up a copy.

 
Excerpt February 2008 Ambeck Edge http://www.ambeck.com/newsletters/nl_200802.html

Reviewed by Avil M. Beckford

When was the last time you ventured into the land of make believe? Best-Loved Folktales of the World by Joanna Cole allowed me to do just that. As an active reader, I was really engaged and found myself getting really annoyed at some of the characters. For example, I became so frustrated with Snow White because she kept on making the same mistakes over and over again, because she thought it would be different, she kept on getting fooled by the disguises of the evil step-mother. Why was I frustrated? Is it because her actions are a metaphor for life, my life, your life, where we seem to find ourselves in the same undesirable situations over and over again until we finally get it.

Some people may think it is a waste of time to read folktales, but for me, I thought it was very worthwhile because it reminded me of simple life lessons such as persistence pays, there is no need to be greedy because there is enough for all of us and instead of competing, why aren’t we creating?

Though Best-Loved Folktales of the World by Joanna Cole is nearly 800 pages in length, it is still appropriate for people with short attention spans because 200 folk tales are included. Because the stories are so short, and there are so many of them, the reader can start reading at any point in the book. You’ll find familiar tales you read as a child such as Cinderella, Beauty and the Beast, Sleeping Beauty, Rumpelstiltskin, Ali Baba and the Forty Thieves or unfamiliar ones such as East of the Sun and West of the Moon, Crab, Chelm Justice, Baby in the Crib, Salt, The Bunyip, and Faithful Even in Death. As an adult, you’ll approach these stories much different from the way you approached them as a child. You’ll view them with a different set of lens all based on your life experiences. You may find yourself sympathetic toward a character in a tale while you could be frustrated with characters in other tales because they keep on making the same mistake over and over again.

I enjoyed reading this book because I was introduced to stories from all over the world, the majority of which I had never heard about. And, it was amazing to find the same story with a different spin because of cultural differences, such as Rumpelstiltskin and Tom Tit Tot. The folk tales reinforce that we are not as different as we think. The author organizes Best-Loved Folktales of the World by regions and if you are like me, the first section in the table of contents that I rushed to was the Caribbean and was delighted to see an Anansi story from Jamaica among the 200 stories. There were other Anansi stories that originated from the Ashanti Tribe in Africa. For those of you who may not be familiar with the Anansi stories, Brother Anansi is a trickster.

Another good thing about the way the book is organized is the Index of Categories of Tales, which allows the readers to quickly see which tales are appropriate for children, wonderful to read aloud, have a moral, are for women and girls and so on. If you like drama, adventure, romance, mystery, horror or fantasy, there is a tale for you. After reading Best-Loved Folktales of the World, you’ll be reminded of the following:

• Share what you have with others because there is enough for everyone
• Persistence pays
• Operate with honesty and integrity: do not claim the work of others because the truth has a way of coming out and the consequences can be dire
• Asking for help shows strength
• Dream big
• Appreciate what you have instead of pining over what you don’t have

I recommend Best-Loved Folktales of the World by Joanna Cole because it’s not only a page-turner, but it allows you to tap into your inner child and have some fun. When reading Best-Loved Folktales of the World , read it not only in the context of providing entertainment, but also in the context of what lessons you can learn to apply to your life. So, take a step back in time and remember when….

Excerpt from March 2008 Ambeck Edge http://www.ambeck.com/newsletters/nl_200803.html

Describe a business challenge you had and how you resolved it.

Challenge: A few years ago I was offered an ownership position in a packaging design company. I didn’t know the owner very well but thought it seemed like a good opportunity to utilize my skills and experience building a design consultancy. I had recently sold my own marketing and design company and was looking for a new venture. This company seemed to be doing great and was ready to move to the next level. I did what I thought was good due diligence and decided to jump in.

After a few months into this new arrangement it became very clear that the other partner was not only dishonest, but had been stealing from clients and embezzling company funds. My gut tangled in knots as I considered all my options. It wasn’t as easy as selling my equity and getting out, my name had been tarnished and my financial resources were already tied up. It looked like it was going to cost me a lot of money and heartache to disentangle myself.

Instead of acting in haste, I sought the counsel of my lawyers, my mentor and some other trusted associates. Together we came up with a plan to remove the partner from the company, make restitution with the clients in whatever way we could, and minimize any additional risk by locking up bank accounts, client files and so on. Once I had a plan in place, I went to the other partner and told her I wanted a ‘divorce’ from the partnership. We had a long conversation and I left the office that day feeling like I was going to be okay.

When I showed up for work the next day, I walked into an empty space. No furniture, no computers, no nothing. Thankfully, I had approached all the staff and our largest client and let them know what was going to happen. It was an interesting few weeks with lawyers, police and bank managers. Thankfully I had put the controls in place so that I and my reputation were protected early on.

 Resolution: Once the initial shock wore off I started to think about how I could have done things differently. I realized that I hadn’t listened to all the clues or ‘red flags’ that kept coming up at the beginning of my discussions with this person. I decided instead to think with my head instead of listening to my gut which is always a big mistake.

A year later, all the company’s debts were paid, staff had found new jobs and I decided to dissolve the company. We filed criminal fraud charges against the partner which are still pending.

I also came to a real sense of clarity about what I was really good at, and how I wanted to best serve the world. The services we were selling at the packaging company weren’t anything I was really passionate about and so it made sense to walk away and start fresh.

What lessons did you learn in the process?

 Lessons Learned

1. Always follow your gut. Learn how to read your own signals. For me a positive step is a strong feeling of excitement and passion. A negative is an empty, kind of dead feeling. When I first engaged in conversations with this person, I always felt strangely calm and without any enthusiasm.
2. Do an enormous amount of due diligence. Don’t just read financial statements, get out there and talk to the clients, talk to the suppliers. Trust the instincts of your lawyers and mentors. They know what they are doing. It turned out that the financial statements that I “bought” into were extremely inaccurate and brought fraud charges to the table after they were reviewed by an outside accounting firm.
3. Take action immediately. The minute I sensed something was really wrong, I took any and all actions I could to protect myself further. By doing that, I managed to save $100,000 in potential damages and ensure that my ex-partner couldn’t tarnish my name any further. I camped out at 7:00 a.m. one day to meet my bank manager with all the legal documents and made sure we had locked all access to the accounts. My ex-partner showed up at 8:30 a.m., stood at the teller and tried to pull a cash advance out of the company. If I hadn’t acted that day, she would have gotten away with it.
4. Build your reputation. At the end of the day your reputation is all you have. Thankfully my reputation was strong in integrity and excellence. Whenever my ex-partner tried to tell lies or slander me, she was met with a very unresponsive audience. People already knew me, and that I would do the right thing, no matter what.
5. Don’t assume that other people think or operate with the same morals and ethics as you do. This was a hard lesson for me but an important one. It has taught me to ask better questions, check references and communicate openly about the standards I have for myself and what I expect from others.

In your opinion, what’s the formula for success?

Formula for Success

• Exist to serve – instead of asking what you want from this life, ask life what it wants from you.
• Focus on your passions
• Decide what you truly want and create a plan to achieve it
• Take action everyday
• Recognize your accomplishments along the way
• Never sacrifice your integrity
• Enjoy the Journey

If you were in Jude’s position, what would you have done differently?

Visit Jude Smiley’s website at http://www.makingprofitspour.com/

Excerpt from March 2008 Ambeck Edge http://www.ambeck.com/newsletters/nl_200803.html