There are notable advantages and disadvantages related directly to the size of your organization. As a small company, it would be helpful at times to think like a bigger firm and have more processes and procedures in place. The opposite is always true; with larger companies favouring process over the kind of entrepreneurial decision making that made their companies a success in the first place.

It’s basically a spin on the economic theory of marginal utility. What are you willing to give up of “A” to get more of “B”? There is always a trade off. I think it would be an interesting exercise for employees, managers and owners alike to put on a different thinking hat the next time a decision has to be made.

I had occasion to do this in a small way a couple of weeks ago. We had to decide whether to replace or replenish an $8,000 colour laser printer. The consumables on the 4 year old printer were getting expensive and there were 3 costly imaging units to replace. We also had a number of supplies for the existing printer we couldn’t return. The decision, see if we could sell the existing printer and supplies first on eBay. The result, there wasn’t much demand or value for either. The end game, we discovered there were plenty of supplies for our existing printer on eBay, at a fraction of what we had been paying…making our existing printer viable to operate again.

I had put on the hat I wore when I started the company. A time when every dollar counted. I believe it was the right decision and sends a message within our company that if we can save money (with the very important condition of not compromising quality or wasting valuable time)… it’s the right way to go.

My job has allowed me to chat extensively with transport carriers of all descriptions and sizes. I’ve heard lots of stories like this (on a much bigger scale) where hundreds of thousands of dollars have been saved by putting on a thinking hat that was more common “back in the day”.  The recession has forced the survivors to get our “mojo workin”…  and it’s good for business big and small.

Lee’s quote for the day

“A recession is a great teacher if you choose to listen closely and take your seat at the front of the class.”

This summer, Tim Horton’s introduced a new procedure where the person taking your order got a little more personal, “Hello my name is Debbie” were the words you heard as you drove up to the area where you initiated your first cup of java for the day. I waited for the new procedure to fall off but after several months the location I frequent has kept up the pace of being as warm and comforting as the products they serve.

Shift to small town New Brunswick. I had to visit recently on a family matter and stopped by the busy little Tim’s that has graced the community of less than 1000 for about 10 years now. Even the old boys that used to hang out at the barber shop and local gas station have migrated up the hill to their new spot and are quite comfortable calling Tim’s home.

For the most part, East Coasters have a reputation for being pretty friendly but when I took a spin through to get my morning coffee I didn’t hear the “Hello my name is…” greeting. Inquisitive person that I am, I mentioned my story to the lady serving me at the window. Her response was something like “Yes, we got some CD down from Ontario but I can’t see us doing that.” She proceeded to get my order and left me with these final and sincere words,”You have a good day now honey pie!”Friendly enough wouldn’t you say?

For all of us that have tried to initiate new processes and procedures is there a lesson to be learned? I think so. We tend to create all encompassing policies because we are either afraid to or are not able to single out individuals causing us grief in some way. Do most hourly employees punch time cards because at some point everyone was fudging their hours or because a few were? Are trucking companies religious about measuring on time performance because they were always late or because they messed up less than 5% of the time? Has anyone created a long list of rules and regulations for everyone because a small percentage of people are doing the equivalent of “peeing in the pool”…and does that sign on the wall actually stop those individuals from doing so in the future?”

I remember a blackout happening in Fredericton, NB where I went to university. At first it was “yahoo” with speeding cars everywhere but within a few hours there was self managed order without a street light or policeman in sight. In “Good to Great”, the author promotes self managed order as the key to business sustainability. It’s a leap of faith that requires a huge amount of trust. For the time being it seems the rotten apple continues to set the environment for the basket.

Lee’s quote for the day

“For the most part, the only thing tougher than initiating change is being on the receiving end of it.”

Working in marketing has allowed me an opportunity to meet many successful business leaders. Our process of discovery before rolling out a marketing program has given me an even greater opportunity to have in depth discussions with these visionary entrepreneurs.

Your chance for greatness can be realized if you adopt their common entrepreneurial traits. They’re excited about what they do, they know their business inside out and they are without exception… workaholics. Life balance may have escaped them but business needs leaders and the ones I’ve met seem comfortable with their calling. Maybe like sharks that need to keep swimming to stay alive, true entrepreneurs need to keep building their business for the same reason.

Assuming the best and being prepared for the worst are characteristics that put these individuals on a pedestal far above us common folk. I used to be in awe of their bigger than life personas. Over time, that awe has transformed to respect and the realization that the people running 2 million, 20 million or 200 million dollar companies have many similar characteristics.

Off comes the cloak of mystery. The truth is these entrepreneurs have learned and applied these simple lessons and you can take these 5 undisputable facts to the bank too:

1. Multiply your efforts through others.
2. Attract and keep great people.
3. Focus on your unique ability and delegate what you dislike or are not particularly good at to capable individuals on your team.
4. Make the bold move and seize the moment when it presents itself.
5. Let success build your confidence and increased confidence build your success.

Lee’s Quote for the day

“If you find something you love, that there is a market for, become really good at it, hang in there long enough, and add a little WYAO… success will be yours.”