The Tough Guy Act
Small business owners are tough guys. Even the ladies - tough guys.We have to be tough. The marketplace, however much we love it - and we do love it - is a rude world. And absolutely no one knows this better than a small business owner. Built into every day of operation is at least one potential trip-wire leading to a possible financial or operational land mine. And that's when things are going well.
When things are not going well, there can be so many trip-wires and land mines that we seem to spend the day either watching our step or managing damage control, instead of productively leading our organization out of the minefield.
The Good And The Bad
During challenging times, being a tough guy has its advantages: We don't fold up at the first bump like a bad souffle. We maintain an air of having our stuff together when the troops look to us for leadership. We show up every morning like we can't wait for another day. And we take responsibility for everything our company does or fails to do.
But the tough guy act also has disadvantages: We don't like to admit we need help. We think we're the only business with a problem. We're probably a little - maybe a lot - embarrassed about how things are going. And we don't like to talk about it.
No Chatting?
A while back a writer for a national magazine called. He was working on an article on small business chat rooms, and said I was recommended to him as someone who would know where to find these chat rooms. I didn't.
I noticed he sounded a little frustrated, so I asked him how many small business chat rooms he had found. He said, "None," and asked me why. I told him I thought there were probably two reasons: 1) most small business owners don't chat about their business; 2) and even if they did, they wouldn't have time.
Hunker Down, But Do It With Friends
Recently, Fed Chairman Alan Greenspan used the word "hunker down" in a semi-annual report he delivered to Congress. He was talking about an attitude in the marketplace where people steel themselves for a shock and prepare for a struggle. Hunkering down is part of the tough guy act, and no one does it like a small business owner.
Recently, in an article titled "Focus On The Fundamentals," I wrote, "This is no time to go into a cave." You don't have to join a chat room, but you do need to talk with people who can help you lead your organization out of the minefield. Here's a list of ten very special groups you should hunker down with:
The Family. Have you ever thought about your family members as being major stakeholders in your business? They have a unique interest in the success of your business, but even more importantly, they have an unequivocal interest in you. Find the right setting and begin by talking about some of the stresses that go with operating a small business, especially during a challenging year. Beginning with generic topics should help you get into some of the specific challenges you may have.
There may be some specific things they can do to help, but primarily, they can help you by undergirding your spirit with encouragement, confidence, and an extra hug a day (That would make a total of six. It takes five hugs a day just for maintenance).
The Employees. If you did a good job of hiring, you've got some pretty smart people working with you. There is not much you're going to hide from them. If 2001 is a challenging year for your company, say that to your staff. You can be the tough guy on whom your people rely for strong leadership while still admitting that you are concerned about the challenges at hand.
In 1774, John Adams, the man who would follow George Washington as president, said this about the new government they were creating: "We should invite the people to erect the whole building with their own hands, upon the broadest foundation. For the people are the source of all authority and power."
If you want the "broadest foundation" to support your entrepreneurial vision, "invite the people" to help you "erect the whole building" of your company. Let your people help you solve problems. It's what leaders do. Even tough guys.
The Banker. If you're having a challenging year, no one outside of your company's four walls will know this more than your banker. Talk with your banker about your challenges. I've said this before: An uninformed banker is a scared banker, and no one ever got any help from a scared banker.
Remember the part of the tough guy act where you're the only one with a problem? Well, you're not. And I think periodic visits with your banker will confirm that.
The Accountant. If 2001 is a challenging year for your company, your accountant can help. He or she has probably seen it all before. You're certainly not their only client with challenges. I promise, your CPA will be able to contribute a critical piece of the puzzle that you are putting together to weather the challenges of 2001.
The Attorney. You probably only call him or her when you have a problem. If nothing else, just plug back in with this professional. The manifestations of a slow economy ripple through a marketplace in a multitude of ways. You may have imminent collection problems, even customer bankruptcies, that will require your attorney. Even if you don't have anything currently for your attorney to work on, give him or her a ring, maybe even a short visit or lunch. You might learn something that will help.
The Vendors. Of all the people you can't fool, it's these guys. When business is off, they're the second to know, after you. Start talking with them You need to work on inventory, possible buy-backs, co-op advertising, special customer needs, etc. As a rule, these guys don't sell their wares unless you do. They're motivated. Incorporate their brain power and problem solving abilities in your strategy for 2001.
The Customers. These guys are operating in the same economy as you. Talk with them about those special needs I mentioned above. I promise, they've got some. It's quite possible that with you, your vendors, and your customers talking together, you could come up with some ideas that could actually turn challenges into opportunities.
The Peers. These are your buds. Other tough guys - some in your industry, some not. Either way, you need to compare notes on your marketplace, industry, banks, maybe even customers. We tough guys can't help each other if we go around acting like things are great if they're not. Ladies, you're better at this than the guys are. Guys, sharing may not be macho, but solving problems is. Talk with your network.
The Safe Harbor. Your spouse, your minister, your best friend, or anyone who knows you well and cares about you. This should be someone to whom you don't have to tell your life story up to now in order for them to be a sounding board, a place to vent frustrations, or a voice of reason.
The Owner. The ultimate tough guy - you. Sometimes it's tougher to be honest with ourselves than with others. But we must be. Remember Polonius' words in Hamlet: "This above all, to thine own self be true." If you're having a problem having productive talks with yourself, that's a good time to start with the people in Numbers 8 and 9, above.
Write this on a rock... Small business owners are tough guys: responsible, dedicated, and committed leaders. But we also don't have all the answers, are not likely to admit we're frightened, and "we don't wanna talk about it." When things get tough, we hunker down. But the most successful tough guys know that they don't have to hunker down alone.
