Biz - Life Blog

Why Wait?

Rob Waite — Mon, 02 Jun 2008 18:55:07 +0000

I saw the new Indiana Jones movie this weekend and there was a great line that really struck a chord with me: “So much of human life is wasted in waiting.”
The reference was not about having to wait in line or wait in traffic but about how too often we are wasting our valuable days waiting for the right time, the right situation, or other such excuses. That’s right, excuses.
If you are waiting before acting take a good hard honest look at your reasons for waiting. Are those reasons just excuses because of fear, laziness or whatever illegitimate reason is holding you back from taking action now?
Don’t wait for life, it doesn’t wait for anyone. Take action today, any action no matter how small, on those things you’ve been waiting for, because the wait is over and it is in your hands to accomplish!
By the way, the wait was over a long time ago. Our goals, dreams, ambitions, whatever they may be, are always in our hands and dependent upon us to do something about them or just let them wither away into the oblivion of what could have been.

Rules of Engagement

Rob Waite — Mon, 28 Apr 2008 12:32:35 +0000

When I was with Dietrich Metal Framing, Ed Ponko the former president came up with the following rules of engagement. They are a great guide to creating a winning culture in any enterprise.

They are:

1) Follow the Golden Rule (Do unto others as you would have them do unto you)

2)      Always look to improve quality in product and service. Add value to our customers’ business
3)      Always do your best each day… and then do a bit more. Push yourself
4)      Be beyond reproach with your deeds and actions
5)      Take responsibility. Have a sense of urgency. Get things done… show results
6)      Always set goals and work to attain them, otherwise they are just dreams
7)      Accept change and take risks. If you’re not changing, you’re not leading the race
8)      Nurture others so that they can replace you. Only then can you move forward
9)      Foster teamwork, it achieves more than you can do individually
10)   Be a good listener
11)   Avoid/discourage trifling with gossip and rumor. No good ever comes of it. Seek and deal in truths.
12)   Allow an argument/debate its due process. Bad decisions come from bad information. End with all on the same page but remember consensus on the decision is not required. This is when leaders have to lead and team players have to act like team players.
13)   PLAY TO WIN!

For any reader in a leadership position, remember, you too have to embody these principles if you want them integrated into the culture of your organizations. I had witnessed an organization where, in my opinion, the shareholders refused to practice rules 1, 4, 9 and 12 while the president was trying to practice all 13. As a result, the efforts were only moderately successful in changing the culture and led to much conflict. This is why I caution anyone in a leadership position to assure that they are walking the talk.

I am in the process of becoming a significant shareholder and principle of Drexel Metals Corporation, I’m about to begin rolling out these rules of engagement. Fortunately, the other shareholders are 100% in support of these principles and already are walking the talk.

I can’t say that any one of these rules is more important than another, taken as a whole; they create a force multiplier that not just leads to success, but also satisfaction in being a member of this kind of team and motivation to keep moving despite obstacles and challenges.

Sergeant Edward Benton

Rob Waite — Fri, 14 Mar 2008 18:22:34 +0000

Sergeant Edward Benton served in the military during a particularly tumultuous time. The country had grown very war weary. So weary that the majority of the country just wanted it over with, thought we spent far too much money on it and the cost in lives was getting too great. No one could see an end in sight. Even the soldiers were getting weary of the whole thing. The calls from some members of Congress for an immediate withdrawal of troops were getting louder every day.

Can you tell which theater of combat Sergeant Benton was fighting in? Afghanistan? Iraq? Maybe Vietnam? Nope, all of those guesses would be wrong.

Sergeant Edward Benton served during the Revolutionary War!

I have sitting on my desk Sergeant Benton’s last pay voucher dated February 2, 1786… 222 years ago!

Anytime I need inspiration to persevere in pursuing my goals, I look at Sergeant Benton’s pay voucher and experience a number of emotions. The first is awe, the second is thankfulness and the third emotion is humility.

I truly admire men and women who have the bravery to serve our country. They serve today in an all volunteer military and during the Revolutionary war, they served in an all volunteer army as well. I’m thankful because the freedoms we enjoy and the economy we enjoy (even today’s economy) would not be possible without Sergeant Edward Benton’s commitment and millions like him. I’m humbled because whenever I think I’ve got it tough or my work is hard, it pales in comparison… and my life isn’t on the line either.

I think it is also important to point out two unique things about many Revolutionary War soldiers. First is that even when injured, they served. Congress had formed the Invalid Corps to serve as guards in various towns vulnerable to attack or to protect food supplies, etc. On April 7, 1781 Edward Benton was assigned to the Invalid Corps due to his injuries. He never recovered from his injuries and was disabled for the rest of his life. The second interesting thing about the commitment of these soldiers, when it was so easy to desert and blend back into society, was that most went without pay for years.

The pay voucher that I have was paid in 1786 AFTER the war was over for pay granted in January 1783 when he was discharged. From his enlistment in 1777 until 1786, almost nine years, Edward Benton served with no pay.

One would think that these soldiers would have been bitter at having to serve injured and/or serve for year after year for no pay (because the country had no money). Most were not because they understood the price of freedom.

Edward Benton was not. How do I know? I have the voter register of Hartford, Connecticut for the 1789 elections… the year George Washington was elected President. Despite his injuries and despite the lack of pay, Edward Benton exercised the freedom he fought for to help elect the first President of the United States. And as they say, the rest is history.

Younger Next Year

Rob Waite — Thu, 21 Feb 2008 20:51:52 +0000

I don’t know about you, but I get older every year. I try to stop the earth from going around the sun, but I can’t. With each trip I make around the sun my waist seems to get a little bigger, my endurance a little shorter and my strength a little weaker. Crap, I’m middle-aged!

While I’m in ok shape for a 46 year old, I know I could be in better shape. At one point in my early twenties I ran three marathons, good luck to me trying to run 5 miles twenty some years later. So, I finally got the ambition fired up to eat better and exercise more. It actually has stuck for just about 12 weeks. That, I am told, is a sign that I have accepted the habit… and I’m ten pounds lighter to boot!

For us folks approaching the geezer years, it is important to truly understand the basics of our physiology and how to exercise and eat in order to live well. I did some digging in the book store, looking for a little inspiration and came across a book that I have now bought 30 copies of and handed out. The title of the book is, “Younger Next Year”. What I really like about it is the authors do not pitch any gimmicks, new age stuff nor sell supplements. I found it to be a great guide.

Now, those of you who have followed this blog for a while know, I do not sell things via my blog. This time I am going to make an exception. I have added a page www.robwaite.com/Younger_Next_Year to my site so that you can the book from Amazon.com. You don’t pay more and I get an affiliate commission. Hey, it takes money to keep this site up and running, so every now and again I will make my exception. What I promise is that I will always disclose it if I am selling something.

Even if you don’t buy it through my Amazon.com link, I would encourage you to buy it, read it, digest it and DO IT!

Here’s to you being younger next year!

Trash Talk and Disparagement

Rob Waite — Thu, 10 Jan 2008 18:14:31 +0000

Have you ever been shocked, hurt and disappointed because you learned about a competitor, former employer or colleague who unfairly trashed you? If you haven’t, then you’re a rare exception!

How do you respond? Why do people do this? Let’s start with the latter. People who actively engage in trash talk actually are afraid of what you are able to accomplish. They are afraid that you’ll succeed. So start by taking it as a compliment! Also people who engage in trash talk are adding no value to their customer or their employer. It is political, mean spirited and the trash talker desires to hurt you, not help their customer or employer.

So, how do you respond? 99.9% do not respond at all. Trash talking almost always back fires on the trash talker. They look petty and small in the eyes of the person they are spouting off to. That person doesn’t have a dog in the fight and doesn’t really want to be involved. I’ve seen this again and again, yet trash talkers rarely learn this lesson. Therefore, just let it go. It can be emotionally hard to do, but 99.9% of the time, that is the smart move. If someone approaches you and says that so and so said this and that about you, simply respond with, “It’s unfortunate to see someone behave that way; we had a legitimate difference of opinion and nothing more than that.” Then redirect the conversation and move on.

What about the 0.1% of the time? This occurs when the trash talker crosses the legal line and defames and slanders you by spreading verifiable lies. A person’s negative opinion of you or difference of opinion on a business decision, even if wholly wrong, does not cross the legal line. Only provable lies do. In that case you need to consider if you should either simply provide the correct information to the recipient in a professional, calm manner or if you should involve an attorney. I suggest only involving an attorney if the liable/slander will have a material impact on your business, earnings, career or reputation in the community. Involving an attorney because the only damage done is your hurt feelings is a waste of money and risks escalating the situation.

I recently had the unfortunate experience where a competitor was trash talking me. At first, I was offend, upset, hurt, angry and confused as to why they would spin such ridiculous story. It was very hard, but I heeded my own advice and just let it go. I kept a watch from a distance to assure things didn’t cross the legal line, but held my tongue and ignored it. I debated with myself every day for a week whether I should do something about it. I’m glad I didn’t. In this case both a supplier and a customer who heard the disparaging information came back and expressed extreme reservations about the trash talker and how it made them not trust the trash talker. All I had to say was, “I really appreciate doing business with people like you.” In the final analysis, the trash talkers achieve the exact opposite of what they set out to achieve. Always take the high road. It isn’t just smart business; it will make you a happier person too.

Lessons on Business from Jacob Marley’s Ghost

Rob Waite — Thu, 20 Dec 2007 12:29:42 +0000

Ebenezer Scrooge: “But you were always a good man of business, Jacob.”

Marley’s Ghost: “BUSINESS! Mankind was my business; charity, mercy, forbearance and benevolence were all my business. The dealings of my trade were but a drop of water in the comprehensive ocean of my business!”

These few lines from Dicken’s “A Christmas Carol” always affected me. It was a reminder that our work is not all that there is to our lives. And it also makes me think about how I go about my work.

Don’t get me wrong, I’m not advocating that a business has to be a give away charity or “nanny state” to its employees. The employee/employer relationship has to be a two-way relationship. After all, if business goes too long without having a positive cash flow and profitable sales, it will fail and be of no service to its employees, customers or suppliers.

What I am advocating is to think about how we go about developing that cash flow and earning our profits. Are we going to do it in a way that pushes people down or in a way that lifts people up?

The great thing about capitalism today

Rob Waite — Mon, 10 Dec 2007 15:48:48 +0000

     Sitting in the dentist’s office waiting to get poked, scrapped and drilled, I sat there starring at the out of date pile of magazines on the table in front of me. I scanned through one issue of Fortune Magazine and read one sentence that I think speaks volumes about capitalism today: “In today’s economy, a big idea is worth more than a big market share.”
     This is very true. The speed that companies’ industries, economic models and competitors change is so great that scale isn’t necessarily the only path to success. Having the next big idea is what really drives markets. As a matter of fact, that big idea doesn’t have to be a new idea either. It just has to be tuned, updated and executed well to change an industry. Think about the iPod. MP3 players have been around, technologically speaking, for a very long time. Yet Apple dramatically improved upon the MP3 concept and literally swept the world.
     What we all should take away from this is that any one of us can have that big idea. The question is then, what are you going to do about it?
     As a writer, I am forced to follow my own advice, so I did follow through when I got what I think is a big idea. Click on the link to find out more: http://www.designandbuildwithmetal.com/IndustryNews/News/waite_joins_drexel_metals.aspx
     More will be written over time about the “big” idea…

Get a Job!

Rob Waite — Mon, 26 Nov 2007 14:46:54 +0000

     In reflecting back on Thanksgiving, one of the things I’m thankful for is that in America there is always plenty of opportunity for those who are willing to stretch themselves and perhaps try something they think is unconventional.
     This relates to some of the questions that have been coming my way. Questions like, “I’m an accountant, engineer, or manager (whichever, fill in the blank) and I just can’t find a job.”
     While finding a job, particularly those approaching or above six figures, can be very challenging and time consuming you can find that job IF you are willing to open up your thinking a bit.
     Let me give you an example. Back in November 2002, I read an article in Newsweek about an engineer who had been making $100,000 per year and had been out of work for over a year. The article concluded that because of the effects of 9/11 and massive outsourcing, this gentleman was likely to become one of the growing number of long term unemployed professional white collar workers.
     It just so happened at that time that I knew of two friends who were looking for an engineer that fit this gentleman’s specialty. As a matter of fact, my two contacts were getting frustrated that they couldn’t find someone for their open positions.
     I figured that it would be a good idea to contact this gentleman and get him connected with my two friends. Maybe they would even compete for him.
     It was easy enough to find him since he had been looking for a job for over a year. I just had to go onto Monster and search his name. I found it and called him. After chatting with him for about 15 minutes to get to know him a bit, I told him about the two openings. He asked where they were. I said, “Pittsburgh”. And he promptly responded that he wasn’t interested. Shocked, I asked him why.
     He said that he lived in a Midwestern city (name withheld) and he wasn’t interested in moving. He all but said that he was owed a $100,000 per year engineering job within a reasonable commute of his home. He blamed 9/11, he blamed outsourcing to India and he blamed his former employer. He was sporting the classic “victim” mentality combined with a splash of “entitlement” mentality.
     I asked him, “How many openings are there right now for engineers in your specialty at $100,000 salary are within a 60 minute commute of your house?” He wasn’t sure. I told him probably somewhere between zero and two. After a little debate, I politely ended the call.
     I concluded that the article was right; this gentleman was going to be part of the long term white collar unemployed. But not because of 9/11 and outsourcing but because he wasn’t willing to do what it takes to replace his six figure job.
     If you are having difficulty finding work, widen the geographic area of your search. Go beyond the traditional online job boards. Also look at sites like www.executiveagent.com where you can very economically have your resume sent out to hundreds of recruiters. Also, you may want to consider contracting with Job Bait where you can have your resume directly mailed to thousands of companies. You can learn more about Job Bait at www.jobbait.com.
     Please note that I am not affiliated with either of these sites, nor to I receive any compensation from them. I just know them from reputation and my own experience.
     Best of luck in your search!

Rule of Thumb to Assure You Are Not Micromanaging

Rob Waite — Mon, 15 Oct 2007 19:31:28 +0000

Financial Controllers use a rule of thumb for setting up companies’ financial controls. They determine whether in a given specific financial activity an individual can either intentionally or unintentionally materially hurt the company.

If a person could materially hurt the company in that activity the controller puts in a system of prevention such as requiring multiple supervisors to sign off as well as assuring a documented audit trail.

If a person could not materially hurt the company with a given financial transaction they then put in a system of detecting problems. A good example here would be on small purchasing activities or small petty cash transactions where the controller will look at a report or two to determine if something is not being handled properly. If it takes the controller two or three cycles before they spot a problem, the company hasn’t been materially harmed and the controller or other managers haven’t spent countless hours approving many, many small transactions when they should have been dealing with larger issues.

The same rule of thumb should apply when managing your people.

We all hate having someone look over our shoulder on very mundane details that we can do properly in our sleep. We get frustrated and wonder why the boss doesn’t trust us or doesn’t think we are smart enough to do our job. That frustration and perceived lack of trust builds over time to the point where open communication and collaboration between supervisor and employee is killed. Then it further spirals into a cat and mouse game because the boss is now convinced the employee is hiding something. This goes on until the employee quits in total despair. Meanwhile, the boss has taken his eye off of what he or she is supposed to be doing while they are trying to approve and check on just about everything.

A good example of this was quoted in the Wall Street Journal the other week. A gentleman by the name of Tim Munson worked for a start-up where he had to have all requests funneled through the company’s founder for approval. This included pen and paper requisitions. Mr. Munson who quit for good reason says, “There were projects that were started my first year, and 51/2 years later I was still waiting.”

Can you imagine how much further along this company could have been if the founder didn’t have to micro-manage these details?

So when it comes to managing your employees think about what you want them to formally check with you on and that you should formally review progress (prevention) and what you want them to just keep you generally apprised of (detection) or where you just touch base from time to time… or somewhere in between.

By making using the prevention/detection rule of thumb you can make sure things are progressing properly, insert yourself where appropriate and keep your people focused on looking ahead rather than looking over their shoulder.

The Power and Importance of Persistence

Rob Waite — Wed, 03 Oct 2007 14:15:18 +0000

I have three things going on in my life that require me to be extremely persistent. Two are uplifting and will have a very positive impact on my life if I do persist. One is just an ugly matter that I would have never imagined would have occurred but I have to deal with nonetheless.
In speaking with a close friend, he reminded me of a quote from Winston Churchill, “Never give in—never, never, never, never, in nothing great or small, large or petty, never give in except to convictions of honor and good sense; never yield to the apparently overwhelming might of the enemy.”
            Powerful words! In my “ugly matter” I really took a hard look in the mirror to make sure I was applying good sense and that I was being honorable in the process. This led to speaking with my friend again. It is important to speak with people who you can trust to tell you when you are wrong or need to improve something. If the people you seek counsel from will only tell you what you want to hear, what good is their counsel?
            After being convinced that my thinking was sensible and honorable, in order to perceiver, I had to make up my mind that I would persist in the matter and that I will not give up regardless of the time involved on the enormity of the task.
            At first, it felt like a burden, but then I read Tony Dungy’s new book, “Quiet Strength”. Tony’s book is an amazing story of perseverance and sticking to what you know is right to do. One of the important lessons I took away from the book is that applying persistence to an honorable fight will result in being a stronger person and afford you the opportunity to learn and gain wisdom through the battle.
            One of the first things I gained from this process was the ability to put it aside and out of my mind when I’m in between activities that I can do/must do in the process. Worrying and replaying the matter in your mind again and again will only sap your strength, cause you anxiety and cloud your thinking. It ain’t easy to do! But vital to endurance and long term perseverance. Plus you have to live your life in all of the other areas of your life.
            So with all of that in mind, I am going to persistently and doggedly follow Winston Churchill’s advice.