What Do You Value?

Video #1 of a series of videos I will be releasing from a keynote speech I gave in January 2019. The conference was for the Western District of NAPA owners.

In this short intro, my question to them and to you is, “What do you value and how would anyone know it?”

“We had the opportunity to have Dan speak at a recent NAPA Owners meeting, which was a great success. Dan delivered a message that resonated with our customer base. It was well received and left our customers with actionable thoughts to implement. Dan had their attention from start to finish.”

Monte Thompson, Genuine Parts Company (NAPA) Mountain Division APG

 

© 2019 Toro Consulting, Inc. All Rights Reserved

Extra Points: Chip Shots

Dan_Weedin_022Watching the World Golf Championships Mexico tournament on Sunday, there was a point in the round where Rory McIlroy did something that I often do when playing golf (and believe me, Rory and I do very little in common on the golf course). He hit his ball right next to a tree. I mean the ball was nestled up directly next to this huge tree with literally no swing available.

McIlroy called over an official to see if he could gain relief and he was denied. He quickly grabbed a club, turned it upside down and proceeded to play his shot left-handed back into the fairway. McIlroy is right handed, as our his clubs. He basically did a McGyver to create a possibility to escape and recover. Although he went in to bogey the hole, it was a remarkable play that minimized damage.

Here are a few business lessons for your consideration:

McIlroy never complained or berated the official as we see in other sports. He owned the fact that he put himself in that situation.

He quickly surmised the quickest and most effective way to get back to the fairway. Faced with other options that would have taken him away from the hole he was playing, he chose an unorthodox play to get back on course.

His short swing left-handed with his club facing the opposite direction was flawless. That means he’d done it before. Likely at some point in his life facing a similar situation, and knowing he might one day again, he practiced the shot until he became more than just competent. If he’s like most golfers, he likely turned the practice into a game.

Your challenge to take into next week and beyond:

Focus always on taking ownership of your actions and behavior. Too many people have a victim mentality where it’s always someone else’s fault. In my experience, the majority of times we find ourselves stymied by a tree is because we hit it there!

Always have a plan to recover quickly to get back in course. You should always know where the exits are in a building or an airplane. Likewise, you should know where the quickest exit to get back to your own fairway is. Not doing so is negligent to your employees and clients; and perilous to your profitability.

Finally, practice your recovery. The reason amateur golfers like me shoot high scores is because we never practice hitting out of the woods; rather focusing on the perfect position created by driving ranges. You must practice your escape and recovery plans in order to be prepared to hit that difficult shot when it’s most needed.

Quote of the Day:

“If you can’t describe what you are doing as a process, you don’t know what you are doing.”

~ W. Edwards Deming

© 2019 Toro Consulting, Inc. All Rights Reserved

Extra Points: Are You Prepared to Get Paid Fast?

Dan_Weedin_022On the most recent podcast of The Shrimp Tank (see link to listen and view below), our guest Pat Larson discussed his business of being an accountant for those investors who dabble in cryptocurrency. Most people know the more popular cryptocurrency brand, Bitcoin; but there are many others. It’s an emerging method of investing and ultimately paying for services.

JP Morgan made news this past week as they announced they will be offering their own private cryptocurrency. It will be fascinating to see how this accelerates the process. Bottom line, you need to be prepared to one day be asked if you accept cryptocurrency as a method of payment.

Consideration for services or products has changed drastically over the past decades. From cash or check only; to credit cards; to Square and ApplePay and Venmo. I just purchased my groceries today with my mobile device (not really a phone, is it?) on ApplePay. Still there are business owners that don’t accept American Express and in some cases, no plastic at all. These are savvy business owners that don’t want to pay extra fees.

Here’s my opinion: You as a business should never get in the way of being paid. Instead of being an obstacle, be an open road. While fees exist today (and they are a cost of doing business), those may be going the way of the dinosaur as there are now growing ways to bank and to send money with no fees.

So where does cryptocurrency come into play?

Listen to the podcast and hear Pat explain that one day there will be a way through some function (e.g. Quick Response or QR codes) will rapidly deposit cryptocurrency into your account, which you can then as quickly transfer into cash. He accepts it as a form of payment. Will you one day do the same?

We are in a rapidly changing world of commerce. Don’t get stuck in the tar pits because you didn’t want to accept a form of payment because I guarantee your competitors will. You be the leader and become a gateway to business and profitability.

Listen to podcast

Quote of the Day:

“It isn’t the mountains ahead to climb that wear you out; it’s the pebble in your shoe.”

~ Muhammad Ali

© 2019 Toro Consulting, Inc. All Rights Reserved

Breaking News: Studio Sponsor For Seattle Shrimp Tank Podcast

BA-Logo-RGB_Horizontal_NEWThe Seattle Shrimp Tank is pleased to announce a new name for its studio.

It will now be called the Business Accelerants™ Studio. Paul Menig and his company, Business Accelerants™ Powered by Tech-I-M, has agreed to provide support to this important endeavor to help small businesses.

Paul uses the Business Accelerants™ 7-Forces Model™ and other tools to assess the current state of small and medium businesses. Based on the information, he helps business owners and leaders develop a GAME plan to accelerate profitable growth, to get them more money from the business and more time for their lives.

Paul was a guest on the show (Episode 28) to discuss what he and his son discovered while looking for a business to buy in the Seattle area. Paul was an “Intra-preneur” at General Electric, Eaton, and Daimler developing new businesses and products for multiple industries including medical, aerospace, defense, industrial automation, and transportation. Since 2012 he has mentored and coached several hundred businesses about getting started, making a Grow And Make Earnings (GAME) plan, and how to exit gracefully.

Paul said, “I’m excited to be part of the Seattle Shrimp Tank podcast and its association nationally with iHeart RADIO. Small and medium businesses are the heart of business. Entrepreneurs need to be encouraged, educated, and empowered to create jobs and help others.”

Thank you Paul for your commitment and support of the podcast! To learn more about Paul and his company, email him and introduce yourself as a member of the community.

Other Sponsorship Opportunities:

Commercials: We have two 30-second commercials per show (26 shows per year). Those of you as guests have heard them. Here is what you get with your commercial: Brand mention at the show’s start and before your commercial; banner link on our Shrimp Tank website; opportunity to have swag on broadcast table or in goodie bag (microphone stands, mugs, etc.)

First Underwriters Insurance Brokers (Dan Weedin) is already committed; we have room for one more. The fee is $400 per month.

Shrimp Peelers: For $400 per year, you will get your logo on our website with the link to your website; get “shout outs” during every broadcast; and get recognition on all marketing and events.

Thank you to our new Shrimp Peeler sponsors that have jumped into the tank head first! They are: Diana Smeland – Port Ludlow Associates; Monica Blackwood – Westsound Workforce; Kathy Cocus – Kitsap Economic Development Alliance (KEDA); Brenda Wall – Legal Shield; Michele Doyle – MD Design Group; and Symetra Life (Nate Kohl).

Shrimp Tank Blast from the Past: Brenda Wall

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In a new series of blog posts, I will be sharing past episodes of Shrimp Tank interviews with our terrific guests.

We are starting with our Shrimp Peeler Sponsors. Today, we flash back to Episode 44 on July 13, 2018 with Shrimp Peeler Sponsor, Brenda Wall from LegalShield!

Listen to Podcast

Commercial Sponsors:

First Underwriters Insurance Brokers  / Ideal Life 360

Shrimp Peeler Sponsors:

Kitsap Economic Development Alliance / MD Design Group / Westsound Workforce /

Port Ludlow Resort / Symetra Life / Brenda Wall – LegalShield/IdentituShield

© 2019 Toro Consulting, Inc. All Rights Reserved

Shrimp Tank Blast from the Past: Monica Blackwood

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In a new series of blog posts, I will be sharing past episodes of Shrimp Tank interviews with our terrific guests.

We are starting with our Shrimp Peeler Sponsors. Today, we flash back to Episode 50 on October 13, 2018 with Shrimp Peeler Sponsor, Monica Blackwood, CEO of Westsound Workforce!

Listen to Podcast

Commercial Sponsors:

First Underwriters Insurance Brokers  / Ideal Life 360

Shrimp Peeler Sponsors:

Kitsap Economic Development Alliance / MD Design Group / Westsound Workforce /

Port Ludlow Resort / Symetra Life / Brenda Wall – LegalShield/IdentituShield

© 2019 Toro Consulting, Inc. All Rights Reserved

Extra Points: The Neighborhood

Dan_Weedin_022We are in the middle of a snowstorm. For us in Seattle, it’s a significant deal for three reasons. First, we don’t get these enough to allow us to be as prepared as other neighbors in the country. Second, we get an inordinate amount of melt that turns into ice. Third, we have a lot of hills; and ice and hills aren’t a good mix.

At home, I’ve done all the normal things to prepare, but as with most of my neighbors, I hadn’t picked up any ice melt. We had a neighborhood text thread going on to see if anyone had some to share. Saturday night, I went to take the dogs out and found a humongous bag of ice melt on my porch. Of course there was no indication of who it was from, but I have my suspicion among a couple of neighbors. Nobody is confessing.

We have an “old school” neighborhood. We all know each other; like each other; help each other out; and hang out together regularly (as I write this, we are preparing to host a Snowmageddon get together). We are fortunate to be around neighbors that altruistically are always ready to both help and have fun.

Is the company you own or are a part of neighborly?

On one hand, your employees may have developed the culture of many neighborhoods in this era where people isolate themselves, with head down, staring at monitors and head phones, walk by each other with little more than a nod, and then go home as quickly as possible. The OTHER hand is the one I suggest for improved company culture, better performance, reduced risk, and more fun…

A company that picks up for each other when someone is out (without being asked); that collaborate, engage, and laugh with each other; that encourage and support each other; and that demand a culture where anyone new coming in be onboarded properly to accelerate that culture. By accomplishing this, you will realize reduced turnover and increased profitability. Plus, your employees will become evangelists for your company.

Here’s your challenge for the week. Rate your company on a scale of 1 to 5, with one being completely isolated to 5 being Mr. Rogers Neighborhood. What do you need to do to improve your score and who can help you? Answer that question and get started with just one step. Share with me the step you took and you will get a complimentary 15-minute conversation with me and I will give you my three steps to assure success.

By increasing that neighborly spirit, the results will be remarkable.

Quote of the Day:

“The more we can be in a relationship with those who might seem strange to us, the more we can feel like we’re neighbors and all members of the human family.”

~ Fred Rogers

© 2019 Toro Consulting, Inc. All Rights Reserved

Shrimp Tank Blast from the Past: Diana Smeland

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In a new series of blog posts, I will be sharing past episodes of Shrimp Tank interviews with our terrific guests.

We are starting with our Shrimp Peeler Sponsors. Today, we flash back to Episode 11 on March 6, 2017 with Shrimp Peeler Sponsor, Diana Smeland, CEO of Port Ludlow Resort!

Listen to Podcast

Commercial Sponsors:

First Underwriters Insurance Brokers  / Ideal Life 360

Shrimp Peeler Sponsors:

Kitsap Economic Development Alliance / MD Design Group / Westsound Workforce /

Port Ludlow Resort / Symetra Life / Brenda Wall – LegalShield/IdentituShield

 

© 2019 Toro Consulting, Inc. All Rights Reserved

Extra Points: The Flash

Dan_Weedin_022As a kid, I loved comic books, and some of my favorites were of super-heroes. I was mostly into DC Comics which featured Superman, Batman, and Wonder Woman. My favorite was a guy who had the super power I most wanted. The Flash. The fastest human on earth wearing a cool red suit with a lightning logo on his chest. I wanted to be fast and The Flash was the guy.

Speed is a great super power for a super hero like Barry Allen (aka The Flash). It’s also a super power for those heroes called entrepreneurs. If you’re a CEO or President of an organization of any size (including just you), then you should be striving to wear that lightning bolt on your chest. Because in business, speed is everything.

  • Speed to market gets you to your target market first, so you can optimize your brand and value proposition. If you’re there faster and with more fury, you become the thought and brand leader.
  • Speed to cash in the bank is crucial to cash flow management. I’m always amazed when a business eschews taking credit cards (or charges the fee). Getting money in your bank account fast is more important than ever to surviving and thriving.
  • Speed to respond is often curiously undervalued by entrepreneurs. The “I will call you back at my earliest convenience” line is time-worn and transmitter-biased. With today’s technology, if one can’t respond to a voice mail within half a day, or an email within 24 hours, then they either are time management challenged or don’t care. Current and potential clients care.
  • Speed to recover means the speed to bounce back from a crisis. I’m talking to two potential new clients this week about creating or improving business continuity plans because they want to be able to reduce their “recovery time objectives.” The per minute improvement can result in tens of thousands of dollars…per minute. That’s real money.
  • Speed to human recovery. Yeah, this is different. Bad stuff happens to us all the time. Personally, we have to recover to crises both professionally and personally. How do you respond? The faster you can find your emotional and mental “sweet spot,” the sooner you return to peak performance. This is critical to how your business and company perform.

Here’s your challenge for the week. Pick one of these “speed,” or find one of your own. Then become The Flash. Work to accelerate your speed to improve your business, your profitability, and your lifestyle.

Quote of the Day:

“Kites rise highest against the wind – not with it.”

~ Winston Churchill

© 2019 Toro Consulting, Inc. All Rights Reserved