Gaston Alive Magazine

I had lunch with one of my best friends and business partners a couple of months ago at a diner where we meet and catch up sometimes. This particular time, he did some venting that provoked me to really think about how to successfully select delegates and personnel. He holds a position of tremendous responsibility in upper management of a large corporation. For over 10 years the company was led by the creative minds of the entrepreneurs, and during that time the sky was the limit. The company exceeded every goal they set. The momentum and creativity was so strong that influence and unlimited resources seemed to follow suit. An attitude of cruise control never crossed anyone’s mind from the receptionist to the CEO.  As has become common in the past couple decades, the decision was made by the founding entrepreneurs several years ago to sell out to a larger management corporation, just as the company was at a peak of its growth. The upper leadership was transferred from the heart of the entrepreneurs to the minds of management. Years have now passed under this new team of leaders and the company has made no progress. The company has become stagnant and lost momentum. I can only imagine where the company would be today had it been transferred into the right hands. Whether you are growing your business and are in need of additional time and talent, or are seeking to pass the executive baton, it is vital to the company and our local economy that you make the right selection.

I place the hearts and potential of staff and leadership into two categories: protégés and parasites. A parasite wants to be a part of what you have to offer, because of what you have in your hand. Parasites may have strong education backgrounds and a resume with large corporate  names on it. They seek information on how they can draw resources from the company for their pleasure or benefit. A protégé wants to be a part of your company, because of what is at the heart. They are interested in how you are driving the business. A protégé wants to understand and be infected by the passion you have for the company. Protégés are typically happy people and desire instruction. Parasites are typically wound tight and are defensive. Protégés are interested in discovering ways for the company to excel, while parasites are there to put your past into Excel. Take a few minutes to think of some examples that you know of that fall into either of these categories. These two personality types aren’t difficult to discern.

I have been a part of the development of a business new to Gaston County for several years. Because of time and talent constraints, the business  struggled  in the beginning. We had the concept and passion, but we made a quick hire from a resume in the beginning, putting management in place that proved to be a parasite. We learned quickly from this mistake and in time realized we needed to seek out a protégé. That time invested in seeking a protégé has well paid off. The protégé position has developed into a partnership. This person sought and caught the vision and is now the President of the company. Many of you in Gaston County have experienced the positive effects of this right selection of leadership.

Apply this principle as you grow and your business and our local economy are sure to benefit from the results. If you are seeking a position in a local company, consider what you have to offer the company. Businesses don’t hire to benefit you; they hire you to benefit the business. While you are seeking out employment, examine and discipline your mentality be that of a protégé.

“The instructions you follow determine the future you create.” Let that sink in a minute. Take a quick journey of the mind through all the time that you have been in business. Throughout this journey you will recognize having adhered to instructions from beginning to the present. The instructions that you have applied have brought you into your current situation. You are receiving and applying good or bad information all the time. I am going to give you an old school way that I use to test information that I am receiving to make sure that it is something beneficial to my future. I call it the  The Five W’s.

Who do you allow to influence you? Are you being influenced by people that you would consider worthy of mentoring you in your business? Make sure that you are entertaining information from people that are familiar with and are supportive of your business. The absolute worst thing to do is adhere to the advice of a dominating and opinionated friend giving you information at a weekend cookout or in most cases, your hair stylist.  Seek information from people who have proven themselves in your particular  industry.

What are you listening to? What are you filling your mind with? Are you a computer guru that while waiting on the next repair to enter your business you sit around reading the National Enquirer? You would be surprised how the information that you put into your mind affects your focus and conversation. I am an incredibly busy and don’t have the time I want at this stage in my business to commit to reading,  so I always have a book or series on CD that I listen to in my travels. I can’t begin to tell you how this has influenced me over the past 12 months.

When do you decide to adhere to instruction? Are you a procrastinator? You don’t want to get a good glimpse of an up coming trend in your industry and wait to implement or market it until all of your competition has been doing it for six months. People are looking for businesses that are current. For a store front or retail business, it is said that you should change your look as often as every 7 years. I can’t tell you the amount of businesses in the South that are perfectly clean, but are uninviting due to the artificial plants, paneling, and green carpet. Don’t wait until you have lost half of your clientele to embrace change.

Where are you gathering your information? If you are always the smartest person in the room, I would suggest that you are hanging out in the wrong places. A bar stool to boast from may be an ego boost, but isn’t really doing anything for your business. You need to seek opportunities to be influenced by people that have proven to be more successful than you. I have a couple local mentors that I love to spend time with. One is in his 80′s and has been extremely successful in property investments and the machinery business. Often times he will call me to go take a ride with him. When he calls, I adjust my schedule and make time to spend with him. He will usually take me to a destination to discuss a project, but my reward is in the travel time when he shares with me wisdom and stories of success and failure. These opportunities must be sought out.

Why are you applying the instruction you receive to your situation? There is balance to applying information. You must take time to think through the information that you have received before you apply it. Is it relevant? I know of a local business that I have had the opportunity to work with on several occasions that will bring anything and everything into their storefront to sell, just to try to make a buck. This works great for a General Store, but not for a business named with a specific target. You will never find snacks and t-shirts for sale in my salon. I probably could make a couple extra bucks, but it isn’t the emphasis of the salon. Also, you will never find me selling or serving coffee in my salon. Why? My neighboring business is a coffee shop. Just because he is making money selling coffee, doesn’t justify me doing the same. The relationship that we have to influence our clientele as neighboring businesses is far more valuable.

Take time to think about the relevance and results of the instructions that you are seeking and applying to your business. Those instructions that you follow will determine the future that you will create.

How many times a week do you mention to your employees, vendors, partners, and lenders about the “good old days”? Sometimes you may catch yourself even resorting to this type of a conversation with a customer because it so consumes your mind. I have found myself in that same frame of mind and speech. About 10 months ago, I found myself so weighted with my focus on past successes and accomplishments that I was cutting myself short in the present. “Good” can only get better and how promising and motivating is any conversation with the word “old” in it?

There is an ancient proverb that states “where there is no vision, people perish”. Sight is something that you can actually see with your eyes. Beyond sight is vision. Vision is something conceived and viewed in the mind, and anticipated. I remember when I began my first endeavor as an entrepreneur. I was obsessed with what I was going to accomplish and how I was going to change the entire mobile home park where I lived. I had a vision in my mind of this incredible transformation. The only means to bring to pass what I had in my mind was my idea and 12 year old self. I had to communicate with people gain influence and generate resources. After selling my vision to my Dad and Grandmother, I was able to acquire a used push mower. 6 months later, I was mowing half the lawns in the community and at $10 per lawn, was generating more revenue than I  ever knew  existed. What I anticipated had come to pass. There is a level of motivation and will power that can only be obtained with vision and imagination. Decades later, I found myself in an opposite frame of mind, reflecting on what all I had seen rather that where my vision could take me. I recognized the slow poison that I was releasing into my businesses.

I am convinced that vision, with a little diligence, is the absolute greatest resource for a business owner. Without it, you will soon find yourself at a dead end. You are attempting to bring a wilting harvest into a new season. It is “old” and no longer any “good”.   I encourage you to turn your mind to tomorrow and away from what you have seen and accomplished in the past. Cultivate your vision and become innovative and motivated once again. You will be surprised what kind of positive influence it will have on those that partner and work with you. Your energy and hope for tomorrow is contagious, just as your despair was.

Wishing you the best in your business,

Preston

My wife and I are in awe and even humbled at times by our success. Our business ‘ secret “  has not been an advanced education. Actually it has often  been just the practical application of good old ‘common sense’. There is a proverb that we have set our minds to practice as well. “There is wisdom in counsel.” We realize that we can’t possibly have all the answers to bring about success. I cringe inside when I hear someone say their success is ‘self made’. The fact is, you would be nothing without the efforts of support staff, loyal customers, and people who just believe in you. When I have an idea or set out to begin a new endeavor, I always share my thoughts with several gifted people that I trust to give me their honest opinion. A few weeks ago I was having such a conversation with my attorney. He shared with me something in a way that has given me a new respect for business.

As those of you entrepreneurs are aware, in the forming of a new corporation, the government issues a number that is called and EIN number. This number gives a corporation an identity, just as a social security number does for a citizen. When this number has been issued, the business has been recognized as a living entity, just as like a real person. When a business ceases to exist, that same identification number signifies its demise. This business must submit to certain laws, and as well has been given certain rights. All of this really got my wheels to turning. In essence, a business is birthed by its parent visionary (the owner) , hopefully develops into health and success, or weakens to the point of resignation. The health of the business is also monitored by the government and often an intervention is required due to it having been taken advantage of or violated. Isn’t the resemblance ironic between a company and a citizen? Understanding this perspective should give you a new respect of your position as an owner or manager.

Upon forming a company, there should be an understanding that in its childhood and weakest stage it is going to require a lot of giving and nurturing-probably more that ever anticipated. If it is your desire to see the business grow into a success, you are going to have to support its development through changes, never opting to abandon, and provide the discipline it is going to require to succeed. I think many of us enter into entrepreneurship expecting immediate benefits that come later in the life of the business, after the sweat and tears.  Wouldn’t it be nice to give birth to a child and three months later he or she is cutting the lawn and doing the dishes?

Take some time to recognize what stage you feel you are in with your company. Are you bringing the discipline and respect that it needs in its current state? Sometimes a change of season may bring with it an unanticipated virus or setback that causes a company to require additional attention and nurturing. It may take some additional effort to get its pulse back up. It may require some leadership by example to get everyone back on the same page and working properly for its health and prosperity. Seek counsel and advice from people that have an understanding of where you are and can see you into your next stage of development. You dreamed your company into existence and it is your leadership and involvement that is going to see it into its best and strongest days to come. Consider this perspective and you are sure to see results.

Be blessed in your endeavors!

There is a question I am asked frequently by fellow entrepreneurs and
business owners: “How are you doing it?” In essence, they are really
asking is how we continue to be successful in industries having been
affected by the nationwide economic crises. Though things have been
challenging, our businesses have remained very stable. We have committed
ourselves to creativity and education over the past 18 months; elements
which I believe have been keys to our success. Because of their proven
effectiveness, I want to share with you a definition of “Success” and of
“Economy” that I have discovered and applied to my life and businesses,
with hopes that you may be encouraged to have a new business
perspective.
People interpret the word “success” differently. We have come to
discover a definition of the word that we are using to gauge our achievement; and it is this: Success= Value + Refinement. We have set our mind to providing value in all that we do, in both the financial and substantial. When value is being transferred, you can be sure that you are contributing to your success through a satisfied consumer, which inevitably will provide positive marketing for your business within their sphere of influence.
Generally speaking, consumers share common desires and values with the
people that they associate with.  Refinement is an equal requirement for
success. By that I mean that we have never arrived. We must constantly
seek to educate ourselves in our respective fields and apply new
discoveries and trends to our businesses. Seeking opportunities to
reduce operating expenses without compromising quality, discovering ways
to work smarter rather than harder, and searching for avenues to add
ingredients to your operation that set you apart from your competition,
are practical ways for you to continually apply refinement. When you
combine value with refinement, you are on your way to achieving success.
The other word I would like to define is “economy”. We have learned a
simple description of this commonly feared word that has
substantially contributed to our success. “Economics”, simply put is
maximizing the minimum. Realizing this enabled me to take significant
responsibility and control of ‘my economy’. You can begin to take
control and stimulate your economy as well. Analyze ways in which you
can ‘maximize the minimum’. Get the most out of your resources in your
business and personal life. Any opportunity you have to measure a
decision against this simple explanation of economics is sure to have a
positive influence on the bottom line of your operation. For example, examine the resources that you have at hand. If you have leased space for operating your business, you are paying for every square foot. Make sure you are getting the most potential for productivity and revenue out of it. If there is excess, you may have an option to sublease to another company that compliments yours. Are you getting the most potential out of your staff. If there is down time, cancel the cleaning crew and maximize the use of time that your employees are contributing. Give your employees materials to educate themselves in their down time in areas that are sure to contribute to the success of your business. There are many ways to think through things and maximize your potential using minimal resources.
Nothing profound, I know. But focusing on these simple principles  can have incredible and sustainable results. I hope these thoughts will stimulate your success in a difficult economy. Keep things in perspective and continue to cultivate and strengthen your
business dreams and investments in our community.

Wishing you every success,

Preston

In my short life, I have had the opportunity to be mentored and befriended by some very unique and diverse individuals. One of them recently reminded me of what my thoughts were that provoked me to begin each of my business endeavors. I think this would be a good place to begin this column. Just some quick background, my name is Preston Wilson. My wife, Somer, and I are local entrepreneurs, and we were both born and raised here in Gaston County. We have a passion for development and progress for our city, Belmont, and its surrounding small towns. I have been an entrepreneur for 12 years,and Somer joined me almost 3 years ago. Since she and I have combinedour efforts and energies, I have gone from being an owner and founder ofive companies to being an owner in nine, having sold one. Just somedown home proof that two heads can be twice as creative and productiveas one. As well as founding companies of our own, we have been privilegedto share in the founding and ongoing success of many other localcompanies as advisers, coaches, and all around encouragement. We have often found ourselves committing as much time to the bottom lines of othercompanies as we do our own. We enjoy helping others keep things inperspective. As I am sure that most of you that are business founders and entrepreneurs can relate, each and every endeavor that we have committed to pursue,has been birthed from an experience that was determined to enhance the way people live their lives. Something, or some experience, provoked the thought that “ it “could be done better. A vision of happy people crossed your mind as you were having this thought and smiling to yourself.

Sounds silly, but you can relate. We are, in every way, in the people business. We all have a deep desire and drive to progress and see returns above and beyond our operating expenses- but is this why we exist? I don’t believe that from the day the first thought entered your mind to start your business, you realized you were going to be committing your thoughts and energies to the things that you have found yourself doing and calling your work. As a hairstylist, you believed and desired to make people beautiful. As a restaurant owner, you desired to create a pleasant atmosphere where people could be served a prompt and satisfying meal. When I started in the construction industry, I wanted to create and recreate environments for people to enjoy, at a rapid pace. My thoughts were that people were dissatisfied with projects dragging out with piles of clutter all along the way. It was my objective to change that experience for them. None of us ever anticipated spending our days with our minds on the things that now consume us. Many times our everyday operations and even success can become a setback in our endeavors, if we lose sight of our vision and appreciation for people. A response and service rendered to an individual, has an effect on the bottom line of any operation, be it a gas station or coffee shop, especially in a small town. Remember, mostof us didn’t create our businesses to just for ourselves, our businesses arefor people.Take a trip back to when you began your endeavor. Come out from theshowers of numbers for a little while. Appreciate people. You will
appreciate the effect it has on your business.

Keeping things in perspective,
Preston

Care to Comment.. You can reach Preston at: pwilson@integrityofthecarolinas.com