I’m going to tell you quite a personal story about how changing one simple thing last year changed my earnings and work life dramatically. It starts with a story I heard from an old 1960′s business coach called Bob Proctor. I was listening to a podcast of his where he described the following situation. A gentleman was the owner of a medium sized, $10 million dollar enterprise. He was the sole owner of the business and employed a large number of staff for the time. It was during the 1980′s. Unfortunately he passed away unexpectedly and all of the staff members and senior management were worried about what his wife (who inherited the business) would do now that the founder and CEO was gone. Some thought they’d lose their jobs, some thought she’d sell the company, some even rubbed their hands together and hoped for a management buyout. What she did do, no one expected. She had never had anything to do with the business before his death, but came in for the first official meeting to tell the staff and board of directors what was going to happen. This is what she did.
She asked all of the Directors to tell her the following 3 things:
- What are you doing in your division at the moment.
- What is working well.
- What is not working well.
She went around the room and let all of them tell those 3 simple stories. After that was done she gave them all a very simple instruction. She said. “I want you to stop doing all of the things that are not working. I don’t care if we lose revenue, or what happens as a result of this. I want you to only do the things that are working. Anyone who doesn’t follow this rule when I come back and ask the same questions in three months, will be dismissed.” She then told them she wasn’t selling the business, and the benefits of any growth will be shared accordingly.
One year after she undertook this strategy the business had grown from a $10 million enterprise to a $30 million enterprise.
It got me thinking at the time I heard this about what I was doing with work. What parts was I doing that were actually working well, and which bits were not working out so well. I came to the conclusion that the things that always worked out best for me were Writing and Speaking. I was doing a portion of that as part of my work at the time. I was working in advertising and in some startups on the side. Whenever I did a keynote speech or did a pitch I smashed it. My writing for journals and blogs was getting good credence. It was probably about 20% of my time on the average week. So I wondered what would happen if I only did those two things. Even for the startups I work with – only write and speak about them to help them grow. I wondered what kind of an income I would earn as a kind of ‘thought freelancer’ on technology, startups and business strategy. So instead of just wondering about it, I decided to do it. My new mantra would be to ‘Think, Write and Speak’ for a living.
Since this decision – which was around a year ago – I’ve published a book and started doing keynote speeches through an agent. And this is the personal bit. After about some months getting organised (pitching the book & getting an agent for speaking), I’ve earned well over what I earned for the entire previous year in just 5 months. What is super cool about this, is that I’m managing to do this in only a small portion of my week. It then forms a kind of underwriting strategy, so that I can invest more time in some killer startup ideas I’ve got, but haven’t had the capacity to get done. I say this not to impress you, but to impress upon you. I’m pretty sure all of us have a muse like this. That small portion of what we do in our company, job or startup which we excel in. A muse we have natural talent for, and naturally put more effort into. I’m pretty sure if we all focused on this, we’d get the same results that I am seeing. Remembering of course that this is not some passion fantasy, but real work we already get paid to do.
Another thing which is really telling with this story is this simple fact: I am no better at these things than I was 1 year ago or even 3 years ago. I am the same person, with the same capacity. I simply sowed my seed in more fertile soil. Which also makes me wonder why we all act like trees, waiting for the environment around us to change and help us flourish. When we can instead choose to change our environment. Unlike trees, we don’t have roots, we have legs, we can use them to go elsewhere and change where we do our work for a more fruitful return. I think the biggest determinant of our income is taking the work we do to a place where that is valued at its highest.
Maybe the thing we need to change, isn’t ourselves, but where we do our work.
As my regular readers would know, I’v recently released a book: The Great Fragmentation – why the future of business is small. Now live and available for sale.
I recently sent an email to some of my supporters and friends inviting them to a shindig to help me celebrate – just some drinks and food among like minds. Then I thought, holy wow, there are no greater supporters than the readers of my blog. You’re all part of my inner circle. Despite the fact that 80% of my readers are overseas, there must be a few out there in Melbourne town. And while some of you already have the invite I’m sure, some might not, and I thought I’d put it up here.
So my dear readers, if you happen to be in Melbourne, or live in Melbourne, then I’d love to shout you a drink and thank you this Wednesday night. A little get together from 6-8pm. It’s in the city and we are being hosted by Michelle Matthews from Deck of Secrets fame, who has probably the coolest warehouse apartment in all of Melbourne. The details of where to come are here. We only have room for around 50 people, so first in first served. It’s kinda risky putting up on open invite, but hey, risk is good. Oh, and the short notice is because, I felt kinda weird having an event where I was the focus, and my buddies (Michelle & Co) kinda just organised it for me. Nice to have friends like that.
Hope to see you Wednesday night from 6pm.
I’ve had a lot of stuff buzzing around my head for the last few years. My local readers get their share when we have coffee. Recently I’ve put together a manifesto from my mind in the form of my debut book: The Great Fragmentation – why the future of business is small.
It is being published with Wiley and comes out mid July. Here’s a picture of the cover below and below that I’ve got some offers for readers of startup blog.
The reasons I wrote the book was that it was my view that most of the business books these days are too thin. They have a single idea and just tell a number of stories and examples around that idea. I feel like the revolution we are living through is much bigger than that. I felt as though we needed a business survival manifesto. Something which assesses the entire change in the business landscape – not just a trend inside of it. My view is that all the barriers to entry are being removed. That there is a dramatic power shift happening. An industry and by industry fragmentation which can’t be avoided and must be embraced. That the playing field is being equalised because technology almost has it’s own agenda. And that agenda is to become cheaper, smaller, more distributed and more powerful – with humans as the beneficiaries, not necessarily corporations. But mostly this book is the intersection, of Anthropology, Technology and how these forces shape the Business world. You can read a little blurb about it here, or even pre-order a copy here. While I can’t be sure if this will be a best seller, I can guarantee you it will be a best reader!
If you haven’t already signed up to my blog via email, you can sign up to updates on the book (and other projects) by clicking here. Before the book is released I’ll have advance copies and other cool resources for your startup / business. These resources will be crazy good & available only to those who signed up. (including a couple of world firsts).
I really look forward to the scary part of hearing your feedback on my 200+ pages of having nowhere to hide and instead say: ‘This is what I believe, I hope you got something valuable from it’.