This past Tuesday was the first training session for the business plan competition. I went in not really know what to expect and apprehensive. I’ve heard about how intense the competition is, that this is going to be a game changer for my business…one guy (last year’s winner) talked about how this competition was his full time job. Zoinks!
What I did know is that every time I’ve heard Jack Barry (the trainer) speak, I walk away energized and have learned a lot. So as promised, here are some of the insights I walked away with thanks to Jack.
We’ve all seen and heard about the myth vs reality of the path to success. The graphic above was a different version of the one you’ve probably seen before. The key takeaway and reminder for us all is this
Even in the times where your business is in the slope downward, notice the trend. It’s always trending upwards.
Yes, there will be times when you’re experiencing a slump but learn and adjust and you’ll stay in that upward trend.
In order for any business to continue, you MUST plan for growth. If you’re not growing the business and planning for ways for that to happen, it will die. There is no maintaining the status quo.
If you’ve started a company, you’re a founder not a CEO.
Now this was a light bulb moment for me. It’s interesting when I think of how many people I meet at networking events who call themselves CEO (myself included). The way Jack explained it is that starting the company makes you a founder not a CEO. That is a leadership position that is earned. One that comes from truly growing the company, cultivating employees to help grow the company and develop into their own leadership.
This is not to diminish being a founder. That takes having the vision and involves the risk in putting it out there. But it’s the CEO that makes it grow and thrive.
This was probably the best gem of the evening. It is so spot on and is a trap that many times I can feel myself slipping towards. We are so connected with our business ideas that we liken it to giving birth and raising a baby. It is so emotional but the success of your business is dependent on your ability to make objective decisions, just like parenting.
Now, I’d love to chat more about these topics and more of what was shared but I’ve got some serious work to do if I’m going to win this competition! I’ll catch up with you after my next training session on the 21st.