The Roving Entrepreneurs: Finalists on a Game Show

The Roving Entrepreneurs Take Fishing Lessons

Keiserism of the Day

Planning a business is very much like planning a road trip without a map resources and working tools it makes it difficult to reach your destination.

Example:

Trip to Boston (Hartford CT – Boston MA)

Person 1 we will call her Doris: Doris Decides she is going to Boston, immediately jumps in the car and starts to drive. Twenty minutes into the drive she runs out of fuel and has to wait for AAA to help her. After that ordeal she realizes she is hungry and has to stop for food. Two hours into the trip Doris realizes that she doesn’t know where Boston is but knows that she will get there eventually. Four hours later realizes she is in New Jersey, asks for directions, stops for fuel, gets another bite to eat and arrives in Boston many hours later.

Person 2 we will call him Alfred: Alfred decides he wants to go to Boston. He sits down calls his sister to let her know he is coming. Before his journey he prepares a list of things to do.

1. Purchase a GPS
2. Visit Jane the mechanic to check his car
3. Get Gas
4. Go to ATM
5. Get food for trip
6. Buy sister a gift
7. Clean out refrigerator
8. Unplug appliances
9. Wash clothes
10. Shut off Water
11. Notify the Mailman

By the time he has finished his to do list, Alfred realizes he is too tired calls his sister to let her know he will be there tomorrow. He is so exausted from the day before he oversleeps, and by the time he is ready it is once again too late to travel. Three days later he arrives at his sisters place only to turn around and go home, he used up his vacation days and must return to work in the morning.

Person 3 we will call her Mildred: Mildred wakes up decides she wants to go to Boston. She makes hotel arrangements with Expedia, packs a bag, and gets directions. She hops in the car, makes 2 stops the gas station, and the grocery store to get some food for her trip. Two hours later she is at her hotel talking with the consierge about things to do and where to get dinner.

Mildred will have the most productive trip of the three. She made a decision, put a plan together, took action, and then modified the plan when she arrived. Planning too much or lacking a plan in any situation can be detrimental to the success of your journey.

The Roving Entrepreneurs Get Lost

Business Owners who Participate in Mastermind Groups (Peer Advisory Group)

Recently, I came across a query from Help A Reporter out that asked folks to comment on their experience of participating in a Mastermind Group (Peer Advisory Group).  I sent this request out to a few of my members to ask them to respond to the query.  To my surprise 8 of the 12 people granted my request to comment, and two were featured in the article.  I feel very blessed and grateful to those who responded, Thank you.

Below is a snapshot of the responses and a link to the article that was published.

Article  Entrepreneurs Share How Mastermind Groups Have Impacted Their Businesses

“We have a phenomenal group that meets up once a month.  I have been able to gain some amazing knowledge from my group.  Having other business owners from completely unrelated businesses, dealing with similar issues and hearing how they have overcome issues has been invaluable.  Seeing an issue from different viewpoints can be eye opening and as long as you are open to listening can help in many ways.  I network a lot outside of my group with other business owners.  Having coffee or lunch is certainly a great way to get to know people and even help hash out ideas or current issues.  Being in a group with multiple business owners who have no vested interest in your business is just a different level of power and opportunity.” Avi Smith-Rapaport President We Care Computers

 

I can’t speak for everyone in our group, but I’ve benefited from the group’s experience in multiple ways – one of the highlights was when I was presenting about a client report that I wanted to produce and forward to my clients.  I was stuck on a section having to do with visually explaining to my clients how their data backups were running.  I was very tied up in trying to get an exact answer to my question, while the group was almost unanimous in simply saying, keep it simple.  Now, rather than trying to figure out complicated math formulas to come up with a number that no one cares about has been replaced by a green checkmark or a red x.  Very simple – would have taken me months to figure this out without them.” Chris Meacham President Now It Works

 

“My Badger’s MasterMind Group has helped Jegas, LLC succeed by being our Pillar of Logical Scrutiny! We Risk together, Learn Together, and We Succeed Together…. that’s how our group operates.”  Jason P. Sage President Jegas, LLC

 

“ I have been a member of our Roundtable for approximately three (3) years.

During that time, our revenues have tripled during a difficult economy.  While our growth is certainly not entirely due to our Mastermind Group, it has certainly provided us the guidance, reassurance, and expertise to facilitate such growth.”  Parker Elmore President Primoris Benefit Advisors, Inc.

“The E Circle is a “business” group that assists me in building my business and to focus on its future potential according to my needs and desires.  It’s making me take me and my business more seriously, in a well needed way.”  Tracy MacKinstry, MacKinstry Financial & Investments Educators Retirement Consulting.

The Entrepreneur Circle roundtable meetings have been a tremendous asset to my business. Simply knowing I have a group of professionals that I can turn to for their business experiences, support and guidance is extremely valuable. The monthly meetings help keep me focused and on track to achieve my goals. Whether you are involved in a new venture or have been in business for many years, I believe The E Circle will help you improve.   Steve Bugg President Insurance Marketing Group

If it weren’t for my E Circle Roundtable I wouldn’t have focused on developing the cross-training and procedures my company needed to provide continuity in the event of sudden staff changes, unexpected death or failing health of the principle, or a disaster. My company is better prepared to handle the unexpected now as a result of E-Circle’s Business Analysis. Lorna Bolduc Principal, Accrete Group, LLC

“My Roundtable has provided an environment that allows me to continually think outside the box and then pursue those thoughts and goals with mutual support and accountability. We drastically improved our marketing programs and substantially grew our firm in our first year as E-Circle members. I strongly encourage any business person to make this commitment a priority item in their business plan.” Bill McCloskey Stateline Senior Services

Keiserism of the Day

Networking isn’t an event, it is a way of doing business.

I have met some wonderful people at networking events, but the relationship developed after the fact while we met over coffee or lunch.  The event was the introduction.  Anytime you are talking with or meeting people you are networking.

Article:  Networking Doesn’t Work

What My Roundtable Does For Me

As the co-owner of The Entrepreneur Circle, I have always thought it important to be a user of my own product.  How could I possibly ask others to join a peer advisory board if I was not part of one myself?  More importantly, I wanted the value and benefit that I saw so many others getting from their Roundtables.  So I assembled a small group of highly skilled, experienced business owners and formed a Roundtable that I not only facilitate, but I participate in.

It would be easy to throw words out there like “amazing” or “helpful” or “valuable”.  While I do feel all of those things about my Roundtable, in trying to describe my experience, those words are not very useful.  So I asked myself the question, “what, specifically, does being in a Roundtable do for me”?  Upon reflecting back over the past couple years of Roundtable participation, a few things became quite apparent.

 

First, my Roundtable provides me with a reality check.  They can look at a situation without bias or emotion and help me separate fact from fiction.  It’s easy to become entangled in the day to day affairs of running a business and even become frazzled by it from time to time.  My Roundtable provides me an oasis to step away, work on the business, and see things as they really are.  It certainly helps take the worry out of running the business and allows a trusting environment to look at the good, the bad, and the ugly while still feeling positive and inspired.  It’s a sounding board consisting of people who share a common goal; help each other grow their businesses and be higher performing business owners.

Second, they are able to help me clearly see what the issues are in our business.  Often, an outside set of eyes can help put things into perspective and allow solutions to appear more readily.  After thoroughly discussing an issue, we always each leave with practical, actionable items that we can immediately implement in our business lives.  It’s not just about theory.  Roundtable is to help each person create their business exactly as they want it to be.  Since we can’t possibly think of every idea ourselves, having an entire Roundtable looking at a situation allows ideas to emerge that otherwise never would have.

The results of working with my group have led to higher revenues, stronger business skills, and a more satisfying business life.

Finally, everyone in my Roundtable is a high performer.  You don’t want to be the “slacker” in a group like that.  I have found that we are able to push each other in a way that no others could.  I trust their judgment, their friendship, and the spirit in which our conversations are held.  I am truly a believer in what a well run peer advisory board can do for any business.

The Roving Entrepreneurs Spoof on Geico

Top TED Pick of the week

Keiserism of the Week

Today’s Keiserism is……..

Take the things you learn and blend them into your style. When we copy another’s philosophy, it is the equivalent of wearing someone else’s shoes. They may fit, but you know they aren’t yours and people will start to wonder why you are walking funny.

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