The 8THIRTYFOUR team, took time out to reconnect, strategize and explore a small town in Northern Michigan this past week. Since we began implementing the Entrepreneurial Operating System (EOS), we have made it a priority to spend time talking about the company, plans for the future and each employee’s individual goals. The benefits for doing so are hard to see at the time, but looking back now on a year of EOS, it is very evident how important ‘company time’ is.

Here are the top 3 reasons, to disconnect and reconnect.

1. One vision, one team. Having all staff members working towards the same goal will only make your company stronger; this will involve transparency on the side of the leadership team. Be willing to share revenue and organizational goals with staff. At our yearly retreat, we discuss one-year and three-year revenue goals, as well as future org charts. We also take a look back on the current year and see how we are tracking to meet the goals set the year prior. This is a great time to ensure everyone is clear on what is important moving forward and how the work they do daily is contributing to the success of the company.
2. Temperature check. A fun exercise to lead with your team, is called roses and thorns. It is an interactive way to identify strengths, weaknesses and improvement areas within your company. Our friends at Atomic Object break it down for you here. This exercise gives you a snapshot of what each team member thinks the company is doing well, could do better and needs to focus on for future goals. For example, our team identified that we do a great job at client reporting, which is something we have worked very hard at streamlining and perfecting in the last 6 months. We also noted that we need to do a better job talking about community engagement and highlighting the importance of it. The best part is the exercise sets the foundation for your quarterly and yearly goals.
3. Fun. Employees work hard for you and they deserve a little fun and relaxation to recharge for the upcoming year. Your retreat should be an even mix of planning and team bonding. I know that is hilarious coming out of my mouth, but when you are intentional about culture, your company will flourish.

What else would you add to this list? By the way, Leland is gorgeous this time of year and there is an amazing bookstore you have to check out.

Most entrepreneurs and business owners fail terribly a leading. No one tells you when you start your business, that you will someday have to manage an entire team. At the time, you are too busy trying to not go broke. It’s probably a good thing that most entrepreneurs can’t see past the week they’re living in, we would have a nervous breakdown.

Over my 11 years at 8THIRTYFOUR, I’ve stumbled upon the following lessons (and I mean stumbled).

1. You are in the spotlight. Whether you like it or not, everyone is watching what you do. Your employees, community, clients, partners, family, dog…you name it; your every action and decision is under the microscope. Self-awareness is key, especially after you make a bad decision.
2. Personal and professional is blurred. Most people spend more time with their co-workers than they do their own families, which means you will know a lot about each individual that reports to you. A good work environment, encourages team bonding and presents opportunities for employees/managers to get to know each other on a more personal level. The catch is, you will know WAY more than you want to about your employees. Safeguard that information and respect their privacy.
3. Not everyone is a winner. This may seem harsh, but when we started moving to EOS (Entrepreneurial Operating System), it took the emotion out of staff/employee decisions. You have to make the right decisions for the company and that means, right person/right position. Rip the bandaid off when it comes to low performers, if they are not a fit for your culture, then work with them to transition to a new job.
4. Everyone looks to you for the answer. You are going to get asked a lot of questions, some you know, most you don’t. Unfortunately for you, you’re the only one they can go to. Empower employees to make their own decisions, but also have designated times they can come to you with questions and solutions.
5. Leadership is lonely. I wrote a pretty emotional and raw blog about this awhile back, running a business is hard. You can’t delegate running the company to someone else, if a big problem hits – buck stops with you.

What leadership lessons would you share? I am always open to learning and adapting based on what I learn. Great leaders don’t happen overnight, they make a lot of mistakes on the way.

I was labeled a pessimist the other day and my first reaction was to be defensive. Let’s be honest, pessimism is not viewed favorably; we are considered the Eeyores of the world, which is associated with negativity.

Side note: Someone had to be a pessimist in that group. Pooh had no common sense, Tigger was rash and reactive in his decision making and Piglet was terrified of his own shadow. They probably should have given Eeyore a little more credit.

Being a pessimist, that’s right I’ll admit it, has allowed me to succeed as a business owner. I do not walk around singing show tunes, I have a serious case of RBF (resting bitch face) and past bosses have called me abrasive and pushy. All of this is true, although I do occasionally hum the Greatest Showman soundtrack, and I am not going to apologize for it.

The way I approach a lot of situations in the business world are grounded in my pessimistic tendencies and have built a successful foundation for 8THIRTYFOUR.

1. I always analyze the shit out of everything. I overthink every interaction, situation, communication…and it has made me very intuitive when faced with difficult decisions. I notice everything…everything.
2. I hope for the best and plan for the worst. Running a business is really, really hard and it is a journey full of constant twists and turns – you have to plan for the unexpected. You also need to roll with the punches, which is not something us pessimists do well.
3. My self-awareness is off the charts. I take criticism well and it has made me a better boss and colleague. I internalize, overthink it and at times make myself sick over it…but the process is well-worth the results.

While pessimism has served me well, it needs to be in moderation. It cannot take over your life; use it to motivate you, but remember to take time to focus and reflect on the great things.

Lastly, don’t be ashamed to be a pessimist, own it and acknowledge the good that comes from it.

P.S. Being a pessimist is good for your health. 

As entrepreneurs and business owners, our days are anything but consistent. It is a word we loathe, how can we possibly be consistent when everyday is full of surprises and the unexpected.

Here is the deal, when we are consistent, we see the results but it takes commitment. It is so easy to put things off, procrastinate and be complacent…but we can’t do that. As business owners we should have a schedule that addresses the different facets of our business.

• Money is key to running a business, which means you need to set time every month to review finances, reconcile charges, categorize expenses…etc. It is a wonder our bookkeeper has not killed me…numbers are my least favorite thing so reviewing them and understanding them takes a lot longer for me. However, it is a necessity.
• Team meetings to keep all work and internal projects on track need to happen weekly. We sit down as a team 3 times a week and each meeting has a different theme – what is coming up, what big projects are in process, current events and brainstorming. If we don’t connect on a regular basis, our connection as a team suffers and in turn our clients don’t receive our best work.
• Leadership meetings happen weekly on Mondays. We do a temperature check on culture, employees, agency health, upcoming projects, business development and more.
• Quarterly strategy meetings are also an important part of “consistency”; we do an offsite full day session each quarter to do a deeper dive into all things 8THIRTYFOUR -we have our goals mapped out quarterly, yearly, etc. This keeps us on track for the bigger goals we have set.
• Mondays are no meeting days, sometimes (rarely) that gets broken but it is our time to plan for the week, connect on all client activities and work ahead.
• Bi-weekly on Fridays we meet as a team and tackle 8THIRTYFOUR marketing activities, community engagement and spend time bonding as a team. We know we have to be intentional about culture, if we aren’t then everything suffers.

My advice is, stop fighting consistency and build it into your week, month and year. The rewards will become evident when you stay the course.

What are your priorities when it comes to consistency?

I would never discourage anyone from starting their own business and going out on their own, but I do think it is important to have all the facts before making the leap. Becoming an entrepreneur is easy, succeeding as an entrepreneur is really, really hard.

Here are just a few things you can expect.

1. Work/life balance will never be achieved. As a business owner you are always on, you have to be as issues and opportunities will pop up at all ours of the day or night. A recent Small Biz Musings blog talks about the myth of work/life balance. It will be important to have a conversation with the significant other in your life to prepare them for your soon-to-be crazy schedule. You will need their support and understanding.
2. Your schedule is no longer your own. If a potential client wants to grab drinks at 6:00 p.m., then you will be grabbing drinks at 6:00 p.m. If they want to meet for a 7:00 a.m. meeting because it works best with their schedule…then you will meet them at that time. If you want to land a contract, you need to do whatever it takes. That won’t always be the case, but in the beginning you need to show up and crush it.
3. Cashflow will always freak you out. Your financials will always hang over your head, you will find that you go from sitting quite comfortably to ‘holy shit…we gotta make payroll.’ This does get better, but in the beginning you are investing everything and you’ll be lucky to see a return in the short term.
4. Small business owners are your new family. You are not alone, even though it will certainly feel like it. There are others that have done what you are about to do successfully and they have great advice to give you. There is no how-to manual for entrepreneurs, maybe I should write one…oh hell, I don’t have time for that.
5. Failure is your new norm. It’s ok, because you will learn from it, just don’t be so hard on yourself. How you deal with failure will impact your business’ future. There is such a stigma attached to failure, see it as an opportunity.

My last, perhaps most important piece of advice is to never stop learning. Read everything you can get your hands on and set aside quiet or thinking time for yourself first think in the morning or in the evening. Oh, and always have a bottle of your favorite spirits on hand. You never know when you are going to need it.

What would you add to this list?

When starting a business the only thing you can think of is….$$$. How will you pay bills? Hire employees? Feed your dog?

Fast forward and you are now a relatively stable company (I mean are small businesses ever really stable?) and you are struggling with clients, you’re exhausted all the time, management of employees is clearly not your strong suit…and you’re wondering how this phase of your business could possibly be harder then when you were broke?

I’ll tell you why. As your business grows, your mindset needs to change. How you run your business needs to evolve and that means some serious non-negotiables.

1. Stop competing on price. At some point you have to stop taking on every Joe Blow that walks through your door with a wad of cash (ok…it depends on how much cash is in the wad). Ask yourself what makes a good client and who can you helo? Break it out by industry, services you want to provide and what your price model is. Concentrate on making your company stand-out through exemplary results, great client relationships and a phenomenal culture.
2. You cannot please everyone. This goes back to the price piece, if someone doesn’t see your value, then don’t work with them. No business should have to spend time constantly convincing a client they are worth the cost of the service. Although, if this is the majority of your clients, then you need to spend sometime thinking on why that is. If you see your value, so will your clients.
3. You are not a friend. Running a business, means hiring the right people. Employees are not your friends, sure you can go out and have a drink or chat about personal lives (to a certain extent), but you are their boss. Do not cross that boundary, it will only spell trouble for your entire business.
4. Spend time on the business. So often we are working in the business, we don’t step back to and strategize ON the business. Pick up the book Traction, once you read it, have your leadership team read it, then tell me what you think.
5. Stop with all the late nights. Regardless of what you think, you cannot work all the time. Stop pretending like you can or you do, because we all know you sleep. You’ve heard of the “busy disease;” I like to call it the small business owner competition…and the funny thing is we think we are competing against each other but really it is all in our head. I am always comparing myself to other owners and how they run their business, which leads to me inevitably finding something wrong with myself…just stop! Do what is right for you and the business.

I would love to hear your thoughts on the business habits you had to break to take your company to the next level. The growth stage is one of the hardest to guide your business through.

Being a business owner is incredibly lonely. I am reminded of this daily, when I have no one but myself to turn to when it comes to tough decisions. No one cuts you slack and no one cares about your ‘feelings’.

Your significant other will not know the crushing pressure you feel when looking at finances, dealing with employee issues, clients, payroll, accounts receivable, accounts payable, insurance, telephones, equipment, technology, property management, growth, culture…you get the drift. They will say you internalize things and you need better work/life balance. What they don’t understand is that doesn’t exist when you own a business. The business doesn’t stop because you have decided you need a vacation or a ‘timeout’.

Here is what I want you to understand about business owners.

• We have tough exteriors. We are tough so people don’t smell weakness and take advantage of us. We look confident but in reality we beat ourselves up about every decision, mistake, failure and critique.
• We choose to do what we do because we truly believe we can make a difference. Sure it sounds cheesy and idyllic and perhaps it is but the fact is there wouldn’t be entrepreneurs or inventors if we were all realists.
• We have feelings. When we are criticized by competitors, clients, employees, vendors, etc. it hurts. It truly hurts. It may seem silly, but we want to be liked. If I was as tough as I looked, I wouldn’t have 4 dogs and donate to every gofundme page that pops up in my newsfeed.
• We’re lonely. If I didn’t have other business owners to commiserate with, I couldn’t do this. I would never had made it without my fellow business owner and best friend, Sue. It’s not like we got a how-to guide when we started our business.
• We’re a little like wild animals. We are fiercely loyal and protective. This means we have to make really shitty decisions sometimes that others view as shotgun or surprising. What you don’t know is the agonizing thought and sleepless nights that we endured prior to making the ‘surprising’ decision.

If you see a business owner on the street, give them a hug (not me though – don’t hug me). They could really use it. Better yet, tell them they’re doing a good job.

I was reading a recent Inc Magazine article and they interviewed multiple entrepreneurs such as Reddit, IPSY, SLACK and Shark Tank about how they spend their day.

I thought, what a great idea! I will share a day in the life of a business owner…me.

9:00 p.m.
Go to bed. Sit in bed and check social networks then open WordBrain to remind myself how stupid words are and then send last minute emails to drive my staff insane. I then set my alarm for 6:00 a.m. to get up early to workout.

10:30 p.m. – 6:00 a.m.
Alarm goes off at 6:00 a.m., hit snooze until 7:30 a.m. Roll out of bed and head to the Keurig. Head upstairs to my dressing room to make myself into a human. Yell at Alexa to read me the news. Instantly become depressed from the news. Leave to make the 4 minute drive to work.

8:00 a.m.
Drink 2 cups of coffee and check in with the team. Talk about my dogs for 15 minutes until everyone stops listening to me. I then head into my office and check emails.

9:00 a.m. – 10:30 a.m.
Outline items that need to be completed that day, check Basecamp (our project management system) to see what staff is working on and if there are any pressing deadlines.

10:30 a.m.
Team check-in. Everyone discusses top 3 priorities to ensure we are all on the same page and nothing gets dropped.

11:30 a.m.
Realize I am dying of hunger. Ask the team what they are in the mood for, discuss for the next hour then order nothing.

1:00 p.m. – 3:00 p.m.
Client meetings, either onsite or at 834 offices. Make 10th pot of coffee.

3:00 p.m. – 5:00 p.m.
Feel nauseous from all the coffee I inhaled, begin drinking water. Write several blogs, answer emails, check on public relations activities and think about happy hour. Begin texting everyone to see who will drink with me.

5:00 p.m. – 8:00 p.m.
If no networking event that evening, go home. Drink a bottle of wine and work on multiple projects.

8:00 p.m.
Elmira the dogs…all 4 of them.

9:00 p.m.
Hmm…I think I might read my book on the Third Reich to switch up my routine. A little light reading before bedtime.

Before you go reading up on other ‘successful’ people’s routines, remember that what works for them may not work for you. They might get up at 4:00 a.m. to run 15 miles, clean their house, meditate or save the world…but who cares? We need to stop comparing ourselves to others and not give a shit what other people think.

*This was written as complete satire and truth.

There is a lot in the works at 834 right now, it is exciting, thrilling, unknown and scary. But so what. Everything in life is terrifying if you think about it long enough. You can literally talk yourself out of anything. Stop it.

What is life without risk? If we quit exploring new tools, strategies and business ideas then 834 will no longer be the brand I created 10 years ago – a brand that is about pushing the envelope, finding new and better ways of doing things and then implementing the shit out of it.

Some of the most successful individuals failed before they ever ‘made it’. Great shit comes out of failure:

1. Failure is important. As long as you are learning from mistakes, you are continually growing your knowledge and experience. Don’t wonder ‘what if?’
2. It gets easier. Eventually failure will get easier. Once you have done it 15 to 20 times, you know how to get up and move on.
3. Success is born from failure. Failures help us define what success looks like, which is something you will constantly be moving towards.

You are not alone. Take Thomas Edison for example, his first thousand or more attempts at getting the light bulb to work were failures. In spite of all of his failures, Edison was a prolific inventor who had amassed several patents by the time he died, including the light bulb and the movie projector.

If you don’t fail, you’re not trying and if you’re not trying then you’re not really living, are you?

Source: Business.com, Entrepreneur.com

This past week I met with a young woman in her 20s that was considering starting her own business, primarily because she didn’t see another option. Her degree was not relevant to what she wanted to do, her current position pigeonholed her and due to this she didn’t see any opportunities in the current job market.

It reminded me of how I began as a business owner. I started 834 around the age of 27, I had no clue what I was doing and failure was an every day occurrence. So what did I have going for me? Age and inexperience. Quite frankly, I had no idea what I was up against, what it actually took to run a business or how much the government would want a piece of it.

This all worked in my favor.

As we get older, we become more risk adverse and tend to overthink everything. Responsibilities start piling up, we get comfortable and then we become sedentary.

There is nothing in life that truly prepares you for being an entrepreneur or running a business, it is hard, frustrating, terrifying and exhilarating. The fact is, life is short, do what you love. Quit your job, start a business, travel or start a new career. Don’t let age or fear of the unknown stop you.

There are tons of resources out there, and people like myself that will sit down and have a conversation with you. Just ask.