HEY, WALL STREET, WAKE UP!

I noticed a good response to my last post about the Occupy Wall Street phenomenon, so I thought I'd add a bit more fuel to the fire and tell you about my feelings towards Wall Street and how the Street overlooks the needs of middle market companies, such as Shamrock.

A few days ago I was listening to Talk of the Nation on National Public Radio (NPR), hosted by Neal Conan. I've got to tell you, I was shaking my head and shouting, "Yes!" to practically every sentence. Neal was discussing a recent study conducted by the Fisher College of Business at Ohio State University. If you're interested, you can listen to or read the  whole thing here: OSU mid-size business study

Neal's guests included Marilyn Geewax, senior business editor, NPR and Christine Poon, dean, Fisher College of Business. Essentially, the study concluded that middle-market companies added 2 million workers in recent years. Yet, despite their growth, they tend to lack the lobbyists, government supporters and associations that small and big businesses enjoy -- and that's my major beef.

Neal stated that mid-market businesses get overlooked by Wall Street and by Washington, when he said:  "Small businesses are the politicians' darling. Lawmakers proclaim that small-scale entrepreneurs will be the engine of economic recovery. Others (in Washington) argue that it's big businesses that really drive the economy... they employ thousands of people all across the country or the globe.  Yet, a recent study concludes that they're both wrong, it's the middle market that's doing the hiring. As small businesses treaded water and big employers shed millions of job, mid-sized companies added some two million workers in the last couple of years. And they do all that without the help of the Small Business Administration or the Chamber of Commerce."

Ms. Geewax went on to say that middle-market businesses make up only 200,000 companies -- a mere 3 percent of all companies in the US, and yet they end up contributing about 34 percent of all private employment -- which comes out to about 41 million jobs in this country!

She went on to paint a picture that seems to reflect Shamrock. Ms. Geewax called middle-market companies "...pillars of their community... who support the Little League team, and they go to the Rotary meetings, and they're very much a part of American life... and they have these very face-to-face relationships with their customers. So when hard times hit, they don't panic so much... they don't grow so quickly, but they're just steady (and) that's really where the job growth has been. They're more stable than small businesses, but they are of course much smaller than the large multinationals and so have less ability to shape or have a voice when it has to do with regulations or public policy or legislation." Amen to that!

FINAL THOUGHT...

Hey, Wall Street and Washington, wake up! It's the hard-working, mid-size businesses that will rebuild our economy. Perhaps you should start paying more attention to our needs.   

OCCUPY MY STREET

Until the Next Big Thing, the media is swamped with stories about "Occupy Wall Street". Even the big guns, such as the Wall Street Journal's reporter, Douglas Schoen, who states that OWT "... comprises an unrepresentative segment of the electorate that believes in radical redistribution of wealth, civil disobedience and, in some instances, violence. Half (52%) have participated in a political movement before, virtually all (98%) say they would support civil disobedience to achieve their goals, and nearly one-third (31%) would support violence to advance their agenda..." (See Wall Street Journal for complete text.), to those who would refute these findings as false and misleading (See Doug Schoen misrepresents poll result to smear OWS).

As the owner of a mid-size business, far from Wall Street, I've got a problem with both sides of this argument. This perception that corruption exists between big business, banking and the government disappoints me because I don't think the majority of businesses fall into this category. Most businesses in this country fall into the mid-size range. They provide the vast majority of jobs. But, our hands have been tied by special interest groups, and so, much of the hiring in this country has been stalled by the politics practiced today.

Our country was founded, and flourished under the flag of free enterprise, largely known as Capitalism. If you're not sure what Capitalism stands for, ask your grandfather. If he's not around, look it up, or "Google It!"  Capitalism is floundering now, because many people don't take the time to fact check the opinions of others.

How many people today realize that mid-size businesses are driven by entrepreneurs who don't have the advantages and tax breaks of big business?  But, nevertheless, it is the mid-size business that drives our economy, hires people within our community and on our streets, and who, in reality, can, with government help, make our country strong again.

FINAL THOUGHT...

My biggest complaint with government, and the media ,today, is that you ignore our country's biggest opportunity for growth, which is the middle market. Entrepreneurs create 60 percent of the jobs in this country, yet our government gives most of its funding to the small majority of big businesses. So, hey, all you reporters out there, Occupy My Street... a mid-size business in mid-America that supplies the majority of jobs to the neighborhoods where it does business!

Final, final thought... Like me, you have every right to agree/disagree and voice your opinion. I'd like to hear from you.

3 THINGS BUSINESS LEADERS CAN LEARN FROM THE ARMY

Retired Gen. Stanley McChrystal,  credited with the death of Iraq's Al-Qaeda leader Abu Musab al-Zarqawi, was recently interviewed by Inc. Magazine. He discussed what business leaders can learn from the military. McChrystal is  known for speaking his mind (which may have cost him his job). I admire the man  for his honesty, despite the consequences.  Here are 3 comments from the interview and my take on them:

1. Let your guard down strategically.

When asked why he was photographed not wearing body armor, McChrystal said he generally didn't wear armor on the streets in Afghanistan, because Afghans wouldn't think he's a brave man. McChrystal said, It was not only a subtle tactic to bridge a culture gap, it was also a way to send his troops a message. "I was asking people to go out and risk their lives," he said. "You can't say one thing and then keep yourself in a hermetically sealed armored bubble."

My take: When you run a business, be prepared to get out of your office and do any job you would ask your staff to do -- from sweeping floors to making cold calls. If not, you run the risk of being perceived as a pretender who's not really on the team at all.

2. Communication should be your top priority.

McChrystal spent his commander's discretionary fund, not on guns, but on purchasing bandwidth so that all in his network could communicate with each other. McChrystal said he did this because he believes information must run both ways to create a free-flow of honest communication. He agrees it's not easy, as noted by his comment:  "You'll find that things like a cubicle wall or a walk across the street can be as wide as an ocean was 100 years ago."

My take: It's important to share information, to chat with the troops, to arrange an impromptu meeting and talk honestly about how business is going. You may leave yourself open to criticism from the team, but, on the other hand, you create honest dialog.

3. Use Commander's Intent—especially in times of crisis.

The idea of clearly expressing your vision of an end result is known as Commander's Intent. And in a time of strain or uncertainty, McChrystal says it's crucial. "This sounds simple, but if you really go into most organizations and ask what winning is going to look like, [managers each] have different ideas," McChrystal says.

My take: World-wide, business is in an economic crisis. To survive, management has  to create and communicate a unified plan of how we plan to overcome it. The plan may not be popular with the troops; it may even backfire. But it takes away the uncertainty employees have of who's running the ship and how we plan to prevent it from going under.  

FINAL THOUGHT...

Today the most successful businesses work on the basis of two often used military terms: Strategy and Tactic. Without a sound strategy and wise tactics the strongest businesses will fail.

A COMMUNAL CELEBRATION

From the Ancient Egyptians who buried their Pharaohs with possessions they might need in the afterlife, to the Ancient Greeks who believed that there was one last  journey in the afterlife that  included being ferried across the river Styx by an eternal boatman, different cultures celebrate and mourn the passing of a friend or family member in almost as many unique ways as there are different cultures.

Just about a year ago, Shamrock remembered the passing of one of our own in a way that's unique to the Shamrock culture. It definitely was among the grandest wakes I've ever attended, and included the celebration of the spirit of a man whose passion for life exceeded that of any person I've ever met. Knowing Chris Hunter was like knowing how to live a life of joy.

I first met Chris several years ago, when he was a supplier to our company. I was so impressed with his larger-than-life personality and his ability to spread joy to everyone he met, that I asked him to join Shamrock.

Unfortunately, lovable Chris became fatally ill a few years after he joined Shamrock. When we found out about Chris's illness, we wanted to make a grand contribution to his life and the legacy of joy he would be remembered for.

The Shamrock family came together to help. Instead of our usually large Christmas Party to thank employees, family, friends, vendors and suppliers, we would have a Chris Hunter Party and establish a Chris Hunter Tribute for his wife and two children. Each of us had a different role. Some would contact vendors, invite them to join us, and ask that they make some donation for a Silent Auction. Some would, likewise, contact local businesses. Others contacted Chris's family and friends from around the country, and asked them to join us in this celebration.

Several hundred people who were touched by Chris's life joined us. We laughed, we cried, we told Chris Hunter stories.  Our Silent Auction raised $80,000, which we offered as a life-affirming gift to the Hunter family. Chris was with us in full spirit. He passed away a week before the party.

FINAL THOUGHT...

Winston Churchill said, "I am ready to meet my Maker. Whether my Maker is prepared for the great ordeal of meeting me is another matter." Sounds just like something Chris would've said. We all miss you, Chris.

AND YOU THOUGHT IT WOULD BE EASY

Creating a business Facebook page is easy. Maintaining it - not so easy. Sort of like raising kids. Producing them - easy. Rearing them - not so easy.

If it were easy, there wouldn't be a new 5 BIG RULES FOR SUCCESSFULLY MARKETING A FACEBOOK PAGE every week or so. I've read dozens of Top 5, here's what I think are the best of the bunch:

1. Ask any social marketing consultant what the number-one no-no is on Facebook, and he’ll likely tell you it’s “broadcasting” your messages instead of providing fans with relevant content and engaging on a continual basis. (See #2, below.)
2. Think about your personal page and things you post that get the most attention.  We generally share things we find funny, interesting or useful with our friends. According to social media experts, it's best to punch it up and not to automate everything on your page. It’s nice to ‘set and forget,’ but there's  risk involved. The biggest risk is that Facebook places low-priority on auto-published content.
      
3. Unlike traditional advertising, such as a promotional TV ad, businesses can’t  create a Facebook page and just let it run its course. Facebook is a hungry beast and requires feeding 3 or 4 times a day. It needs to be updated and monitored constantly.
      
4. Many businesses suffer from Ludditeness (Adverb: the act of not wanting to manage the latest technology). Simply stated, we don't know how to evaluate the effectiveness of our Facebook page. Facebook Insights (http://www.facebook.com/FacebookAds/posts/10150166025703417) is a powerful analytical tool that can help any business evaluate the effectiveness of its Facebook presence. Try it. You may like it.
5. Sometimes, in the rush to put up a Facebook page we forget Marketing 101: Be consistent with your message. Information on your Facebook page, your blog post, your email marketing campaign, direct mail, etc., should be geared to helping you build your brand; identifying what your company stands for, so that your friends, fans, business associates, and customers can pick you out from your competitors.

FINAL THOUGHT...

Since we're told, over and over again, what businesses are doing wrong on Facebook, I would guess we're all battling the same dragon. It's not an easy battle, but I think we'll all find the right way to correctly place Facebook  among our essential tools in the marketing toolbox. Like raising our kids, it will take some time and patience, but we'll get there, and mostly, like our kids, it will turn out just fine.

BE TRUE TO YOUR SCHOOL

Remember when mission statements and corporate values were the big buzz words on the block? It all started in the late 1990s. Big shot management gurus adopted this theory that if chieftains of the  organization came together and developed a mission that drives a company, the company would flourish, and its people would multiply, and they would be proud.

There are two misconceptions about this theory. One is that it was a new concept. I disagree. Let's go back to school. What made you proud of your school? The school motto. Its colors. Its song. Its history of remembering the motto, the colors and the song, passed down from generation to generation.  I would say that schools -- the teachers, the PTA, the principal, and the students  -- developed the first mission statement and values we've adapted to the business world. And it was these emblems that made you true to your school.

The second misconception is that a good mission statement will make an organization successful. What is that malarkey all about? One of the easiest things to do is bring a group together with the sole purpose of writing an organizational mission statement. One of the hardest things to do is get it right.

Do your mission statement and corporate values hang, yellowing and ragged, on the wall or cubicle of every employee? Never read, never said? If they're just a bunch of words with no action behind them, then, yes, those papers are yellowing like an unused ribbon in a box that's never opened. Doing no one any good. Certainly not making your company bigger, better or stronger, prouder.

Most schools last for many generations. And their colors, their motto, their song, never change. Because, after all, they stand for why the school exists and they create a sense of self in the history of the school. To tamper with them would be sacrilegious. The same should be true for a mission statement. So, a lot of thought should go into it. Your wishes, dreams, business and cultural goals for the organization should be part of your mission and core values. Otherwise, it's just useless wallpaper framing a disillusioned work force.

FINAL THOUGHT...

Several years ago, we, like most organizations, brought a team together to write a mission statement. But, before we cast it in type, we wanted to make sure it had the strength to outlive generations of Shamrock employees. We asked for input from everyone at Shamrock. We made sure it not only served the needs of our customers, but that it also served the needs of everyone who worked at Shamrock.  We plan to have our mission statement and values around a long time. It will remain true to our school of thought. Don't believe me? Check out our mission, values and philosophy for yourself at http://www.shamrockcompanies.net/mission.asp.

ARE YOU GAME?

I have a theory that, if you are stripped of everything: your home, your family, your job... your entire legacy... only then will you really know how you are regarded by others (to paraphrase the Beatles, Will you still love me...).  This vision of how I, and Shamrock are perceived, is very important to me.  When I walk around our office, I like to share the importance of this vision with my family of employees.

Often, how we see ourselves may be entirely different from how others see us. For example, we may think our jokes are humorous, but others see them as inappropriate. We may see ourselves as detail- oriented, while to others we seem to be a nitpicker. Or, what we think of as self-confidence, others may see as arrogance.  You get the picture.

Recently, I read this blog post on biospace, and want to share the link with you (http://www.biospace.com/News-do-you-really-know-how-people-perceive-you/190566). As the post suggests, offer three of your most honest friends and co-workers a list of traits and say, “I need you to mark, in 1-2-3 order (1/most to 3/least), the top three ways I might rub people the wrong way.” Warning: you need to have a thick skin to take the traits test.

Here are a few of the traits you can list (for more traits, check out the above blog post link above, or develop your own list): Arrogant -  Needy - Overly Opinionated -  Rigid - Passive - Indecisive -  Abrupt - Stuffy - Oversensitive. Are you game to try this?

I believe that  if you ask typically honest friends and co-workers to do the evaluation you'll discover recurring themes. If two different people mark “abrupt,” for example, believe them—even if you’re sure you don’t act that way. After you discover how others see you, ask them how much they feel that one or more of these traits negatively impacts how others view you and your success.

FINAL THOUGHT...

If you take this traits test honestly, you'll likely find out how you're perceived by others. I'm curious to know what you learn. You can email me, respond anonymously, if you wish, on our Facebook page, or leave an anonymous note on this post. It may make for an interesting discussion. It may even be a life-changer.