Stay Positive When Dealing With Negative People

2 Ways to Stay Positive When Dealing With Negative People

By Tony Robinson 

We all have to deal with negative people at some point in lives, we just do. Sometimes we can avoid them, other times we can’t. Sometimes these negative people stay for a little while, other times they stay long enough to make us want to jump off a bridge.

But since we know it’s a fact of life that negative people exist, what can we do deal with Negative Nancy and Pessimistic Peter?

Understand They Have Different Values

There are times when the negative people we have to deal with aren’t always negative, they just happen to be really negative in certain situations.

When I started college, I was an engineering major. I did really well in school and got accepted into a summer internship program with one of the biggest oil companies in the world. It was awesome. I performed so well in the internship program that they brought me back the following summer. After the second summer I was told I had a full time job waiting for me once I graduated.

But unfortunately, not only did I turn down that high paying job offer, I left the engineering major entirely! I realized that engineering wasn’t my passion and I began studying small business management instead.

My family wasn’t so thrilled about the idea. I was going to be the first one in my family to get a college degree, and the fact that it was going to be an engineering degree made my family ecstatic because they knew that a degree in engineering meant financial security. That’s what was important to them, a nice steady paycheck with great benefits.

So when news broke that I was changing my major, my family voiced a lot of concerns and brought a pretty negative attitude to the situation. They kept reminding me of the time that would be wasted and the big payday that would never come. It was tough to hear, and it even made me second-guess my decision.

But I had to go back and remind myself of what my values were. What was important to me? Delivering something of significance to world the world, and I felt that a degree in engineering wouldn’t allow me to really reach my potential.

I valued significance, my family valued security. We couldn’t have been further apart from each other.

Once I realized that we had such a big difference in values on the topic, it made it a lot easier for me to tune out the negative comments and energy they were sending my way.

Take Responsibility for Your Own Happiness

Negativity is contagious. It’s easy for someone else’s negative thoughts to slowly creep over and start affecting you in a negative way.

But positivity is also contagious, so when someone is giving you a lot of negative energy, you have to fight back with positive energy. You can’t allow someone else’s negativity to become yours. Just because Negative Nick doesn’t think it’s a good idea for you to go after your dreams, that doesn’t mean you have to think it’s a bad idea too.

You have to be responsible for you own happiness and positivity. If we break down the word responsibility we get “response – ability”. Responsibility is simply your ability to respond.

You don’t have the power to choose what life throws at you, or what these negative people do and say to you, but, you do have the ability to choose how you respond and that’s what’s most important.

You can choose to respond in way that lets the negativity drains your positivity and makes you feel hopeless and frustrated, or you can choose to respond in way that makes you work even harder and focus even more on the positive aspects of the situation.

The dictionary defines responsibility as “the opportunity or ability to act independently and make decisions without authorization”. That means you don’t need an ok from anyone else to act on something that you’re responsible for. So even when the negative people disagree with you, who cares?

It helps if you ask yourself,

• “What can I do to reinforce my positive attitude?”
• “What can I do to discredit their negative attitude and opinion?”

Your happiness depends more on your own attitude than any external factors. So don’t let the negative people of the world get you down.

Four Effective Ways to Solve Problems

The 4 Most Effective Ways Leaders Solve Problems

With as many problems as we are all faced with in our work and life, it seems as if there is never enough time to solve each one without dealing with some adversity along the way.  Problems keep mounting so fast that we find ourselves taking short-cuts to temporarily alleviate the tension points – so we can move onto the next problem. In the process, we fail to solve the core of each problem we are dealt; thus we continuously get caught in the trap of a never-ending cycle that makes it difficult to find any real resolutions.  Sound familiar?

Problem solving is the essence of what leaders exist to do.  As leaders, the goal is to minimize the occurrence of problems – which means we must be courageous enough to tackle them head-on before circumstances force our hand.  We must be resilient in our quest to create and sustain momentum for the organization and people we serve. But the reality of the workplace   finds us dealing with people that complicate matters with their corporate politicking, self-promotion, power-plays and ploys, and envy. Silos, lack of budgets and resources, and many other random acts or circumstances also make it harder for people to be productive. 

Competitors equally create problems for us when they unexpectedly convert a long-standing client, establish a new industry relationship, or launch a new product, brand or corporate strategy.   Mergers & acquisitions keep us on our toes and further distract us from solving existing problems by creating new ones.

As Karl Popper, one of the most influential 20^thcentury philosophers of science, once eloquently stated, “All life is problem solving.” I’ve often contended that the best leaders are the best problem solvers. They have the patience to step back and see the problem at-hand through broadened observation; circular vision. They see around, beneath and beyond the problem itself. They see well-beyond the obvious. The most effective leaders approach problems through a lens of opportunity.

Leaders who lack this wisdom approach problems with linear vision – thus only seeing the problem that lies directly in front of them and blocking the possibilities that lie within the problem. As such, they never see the totality of what the problem represents; that it can actually serve as an enabler to improve existing best practices, protocols and standard operating procedures for growing and competing in the marketplace. They never realize that, in the end, all problems are the same – just packaged differently.

A leader must never view a problem as a distraction, but rather as a strategic enabler for continuous improvement and opportunities previously unseen.

When I launched my first venture in the food industry, we had a problem with the adhesion of the labels to the glass jar packaging of our products that affected nearly 20% of an initial shipment.  As circumstances would have it, this was the first shipment to a new client that was “testing” our new products in 200 stores with an opportunity to expand our distribution to over 2500 stores nationally.  Instead of panicking, we took a problem solving approach that involved multiple steps and resulted in a full-blown change management effort with our label supplier, manufacturer, trucking company and client.  Rather than viewing this problem simply as a hurdle that could potentially lose us the client, we took proactive measures (and a financial investment) to show our new client that we were capable of not only solving the problem – but earning their trust by responding promptly and efficiently  with a comprehensive step-by-step incident report that included our change management efforts.

This experience taught us many lessons about our company and helped us to avoid many unforeseen problems.  The ROI from how we handled this problem helped open our eyes to many elements that were previously being overlooked – and in the long run it helped enable us to grow the business.

Whether you are a leader for a large corporation or a small business owner, here are the four most effective ways to solve problems.

1.  Transparent Communication

Problem solving requires transparent communication where everyone’s concerns and points of view are freely expressed. I’ve seen one too many times how difficult it is to get to the root of the matter in a timely manner when people do not speak-up.

Yes, communication is a fundamental necessity. That is why when those involved in the problem would rather not express themselves – fearing they may threaten their job and/or expose their own or someone else’s wrong-doing – the problem solving process becomes a treasure hunt. Effective communication towards problem solving happens because of a leader’s ability to facilitate an open dialogue between people who trust her intentions and feel that they are in a safe environment to share why they believe the problem happened as well as specific solutions.

Once all voices have been heard and all points of view accounted for, the leader (with her team) can collectively map-out a path toward a viable and sustainable solution.  As fundamental as communication may sound, don’t ever assume that people are comfortable sharing what they really think. This is where a leader must trust herself and her intuition enough to challenge the team until accountability can be fairly enforced and a solution can been reached.

2.  Break Down Silos

Transparent communication requires you to break down silos and enable a boundary-less organization whose culture is focused on the betterment of a healthier whole.   Unnecessary silos invite hidden agendas rather than welcome efficient cross-functional collaboration and problem solving.

Organizational silos are the root cause of most workplace problems and are why many of them never get resolved. This is why today’s new workplace must embrace an entrepreneurial spirit where employees can freely navigate and cross-collaborate to connect the problem solving dots; where everyone can be a passionate explorer who knows their own workplace dot and its intersections.  When you know your workplace dot, you have a much greater sense of your sphere of influence. This is almost impossible to gauge when you operate in silos that potentially keep you from having any influence at all.

In a workplace where silos exist,  problem solving is  more difficult  because you are more likely dealing with self-promoters – rather than  team players fostered by a cross functional environment..  When you operate in a siloed environment where everyone wants to be a star, it becomes increasingly difficult to help make anything or anyone better. This is when problem solving becomes a discouraging task.

Breaking down silos allows a leader to more easily engage their employees to get their hands dirty and solve problems together. It becomes less about corporate politicking and more about finding resolutions and making the organization stronger.

3.  Open-minded People

Breaking down silos and communication barriers requires people to be open-minded.  In the end, problem solving is about people working together to make the organization and the people it serves better. Therefore, if you are stuck working with people that are closed-minded, effective problem solving becomes a long and winding road of misery.

There are many people in the workplace that enjoy creating unnecessary chaos so that their inefficiencies are never exposed. These are the types of people (loafers and leeches) that make it difficult for problems to get solved because they slow the process down while trying to make themselves look more important.  Discover the lifters and high-potential leaders within the organization and you will see examples of the benefits of being open-minded and how this eventually leads to more innovation and initiative.

Open-minded people see beyond the obvious details before them and view risk as their best friend. They tackle problems head-on and get on with the business of driving growth and innovation.  Close-minded employees turn things around to make it more about themselves and less about what is required to convert a problem into a new opportunity.

With this explanation in mind, carefully observe the actions of others the next time you are dealt a real problem.

4.  A Solid Foundational Strategy

Without strategy, change is merely substitution, not evolution.  A solid strategy must be implemented in order to solve any problem.  Many leaders attempt to dissect a problem rather than identify the strategy for change that lies within the problem itself.

Effective leaders that are comfortable with problem solving always know how to gather the right people, resources, budget and knowledge from past experiences. They inspire people to lift their game by making the problem solving process highly collaborative; for them, it’s an opportunity to bring people closer together. I’ve always believed that you don’t know the true potential and character of a person until you see the way they solve problems.

Effective leaders connect the dots and map-out a realistic plan of action in advance. They have a strategy that serves as the foundation for how the problem will be approached and managed. They anticipate the unexpected and utilize the strengths of their people to assure the strategy leads to a sustainable solution.

Never shoot from the hip when problem solving. Avoid guessing. Take enough time to step back and assess the situation and the opportunities that each problem represents. Make the problem solving process more efficient by recognizing that each problem has its own nuances that may require a distinct strategy towards a viable resolution.

You know that you have great leadership in your organization when problem solving becomes a seamless process that enables the people and the organization to grow and get better.  If problem solving creates chaos, you may have a serious leadership deficiency.

Problem solving is the greatest enabler for growth and opportunity. This is why they say failure serves as the greatest lesson in business and in life.  Be the leader that shows maturity, acts courageously, and requires accountability.  Applying each of these lessons can help you become a master problem solver. Each experience teaches us all new things. Embrace problem solving and the many unseen treasures it represents.

http://www.forbes.com/sites/glennllopis/2013/11/04/the-4-most-effective-ways-leaders-solve-problems/

Would You Like to Increase Your Influence at Work?

Alignment

This is one of the great buzzwords of our time. When used consciously, it's also the key to building solid relationships as well as the foundation for being influential. When you are able to show how someone else's needs can be met through your idea or process, you both stand a chance of walking away satisfied. 

The question: How do you do it?

Five Styles to Help You Influence

1. Demonstrate. Give a successful example of your idea. 

How? Highlight related examples of the same idea already taking place in your organization or in another business. 

2. Cost-Focus. Show how problems and costs can be minimized. 

How?  Run through the numbers to reveal, factually, the cost benefits of your approach. Do this on paper and hand the other person(s) a copy to hold in their grubby little paws. This makes it real. Don't just say it; print out the math.

3. Values-based consistency. Show that your solution is consistent with, and strongly supports, the other person's values. 

How? Do your homework and find out the non negotiables in the business lives of those listening. Then, clearly point out the values-alignment that your solution brings.

4. Time Awareness. Demonstrate how the plan will unfold over a specific period of time.

How? My favorite--because it is low risk and high payoff--is to do a trial project implemented in stages with "client" review at designated points. It is very powerful because the other person is actively involved, shares likes and dislikes at each step, and is part of the successes and problem-solving. Ownership emerges rather quickly.

5. Testimonials. Show that your idea already has the support of other respected people. 

How? Ask others who have used the idea to give you a blurb or, internally, to come to the meeting. Nothing succeeds like someone else showing how successful you have been with them. You hardly have to say a word except "thank you" to those who have helped.

Some Other Thoughts

• Listen to what sound like objections and acknowledge them. You'll gain respect. You'll lose respect if you don't treat feedback to your ideas as being legitimate. 

• Stay focused on your theme and not everything you know about the idea or proposal. Too many details will distract your listeners. However, if they ask for details, be prepared to respond. It means they are interested. 

• Consistent with #4 above: People are more likely to accept a smaller proposal if they've just rejected a larger one. Keep the pilot program in your back pocket as a reasonable alternative to implementing the entire idea. It will seem sensible to the individual or group.

I found this great Blog posted by Steve Roesler! Thanks for the info!

11 Simple Leadership Concepts

Hey guys,

Found this article from LinkedIn Today and thought it would be a good read for those of us working on our leadership skills! Let me know what you think!

Being likeable will help you in your job, business, relationships, and life. I interviewed dozens of successful business leaders for my last book, to determine what made them so likeable and their companies so successful. All of the concepts are simple, and yet, perhaps in the name of revenues or the bottom line, we often lose sight of the simple things - things that not only make us human, but can actually help us become more successful. Below are the eleven most important principles to integrate to become a better leader:

1. Listening

"When people talk, listen completely. Most people never listen." - Ernest Hemingway

Listening is the foundation of any good relationship. Great leaders listen to what their customers and prospects want and need, and they listen to the challenges those customers face. They listen to colleagues and are open to new ideas. They listen to shareholders, investors, and competitors. 

2. Storytelling

"Storytelling is the most powerful way to put ideas into the world today." -Robert McAfee Brown

After listening, leaders need to tell great stories in order to sell their products, but more important, in order to sell their ideas. Storytelling is what captivates people and drives them to take action. Whether you're telling a story to one prospect over lunch, a boardroom full of people, or thousands of people through an online video - storytelling wins customers.

3. Authenticity

"I had no idea that being your authentic self could make me as rich as I've become. If I had, I'd have done it a lot earlier." -Oprah WinfreyGreat leaders are who they say they are, and they have integrity beyond compare. Vulnerability and humility are hallmarks of the authentic leader and create a positive, attractive energy. Customers, employees, and media all want to help an authentic person to succeed. There used to be a divide between one’s public self and private self, but the social internet has blurred that line. Tomorrow's leaders are transparent about who they are online, merging their personal and professional lives together.

4. Transparency

"As a small businessperson, you have no greater leverage than the truth." -John WhittierThere is nowhere to hide anymore, and businesspeople who attempt to keep secrets will eventually be exposed. Openness and honesty lead to happier staff and customers and colleagues. More important, transparency makes it a lot easier to sleep at night - unworried about what you said to whom, a happier leader is a more productive one.

5. Team Playing

"Individuals play the game, but teams beat the odds." -SEAL Team Saying

No matter how small your organization, you interact with others every day. Letting others shine, encouraging innovative ideas, practicing humility, and following other rules for working in teams will help you become a more likeable leader. You’ll need a culture of success within your organization, one that includes out-of-the-box thinking.

6. Responsiveness

"Life is 10% what happens to you and 90% how you react to it." -Charles SwindollThe best leaders are responsive to their customers, staff, investors, and prospects. Every stakeholder today is a potential viral sparkplug, for better or for worse, and the winning leader is one who recognizes this and insists upon a culture of responsiveness. Whether the communication is email, voice mail, a note or a tweet, responding shows you care and gives your customers and colleagues a say, allowing them to make a positive impact on the organization.

7. Adaptability

"When you're finished changing, you're finished." -Ben FranklinThere has never been a faster-changing marketplace than the one we live in today. Leaders must be flexible in managing changing opportunities and challenges and nimble enough to pivot at the right moment. Stubbornness is no longer desirable to most organizations. Instead, humility and the willingness to adapt mark a great leader.

8. Passion

"The only way to do great work is to love the work you do." -Steve Jobs
Those who love what they do don’t have to work a day in their lives. People who are able to bring passion to their business have a remarkable advantage, as that passion is contagious to customers and colleagues alike. Finding and increasing your passion will absolutely affect your bottom line.

9. Surprise and Delight

"A true leader always keeps an element of surprise up his sleeve, which others cannot grasp but which keeps his public excited and breathless." -Charles de Gaulle

Most people like surprises in their day-to-day lives. Likeable leaders under-promise and overdeliver, assuring that customers and staff are surprised in a positive way. There are a plethora of ways to surprise without spending extra money - a smile, We all like to be delighted — surprise and delight create incredible word-of-mouth marketing opportunities.

10. Simplicity

"Less isn't more; just enough is more." -Milton GlaserThe world is more complex than ever before, and yet what customers often respond to best is simplicity — in design, form, and function. Taking complex projects, challenges, and ideas and distilling them to their simplest components allows customers, staff, and other stakeholders to better understand and buy into your vision. We humans all crave simplicity, and so today's leader must be focused and deliver simplicity.

11. Gratefulness

"I would maintain that thanks are the highest form of thought, and that gratitude is happiness doubled by wonder." -Gilbert Chesterton

Likeable leaders are ever grateful for the people who contribute to their opportunities and success. Being appreciative and saying thank you to mentors, customers, colleagues, and other stakeholders keeps leaders humble, appreciated, and well received. It also makes you feel great! Donor's Choose studied the value of a hand-written thank-you note, and actually found donors were 38% more likely to give a 2nd time if they got a hand-written note!

The Golden Rule: Above all else, treat others as you’d like to be treated

By showing others the same courtesy you expect from them, you will gain more respect from coworkers, customers, and business partners. Holding others in high regard demonstrates your company’s likeability and motivates others to work with you. This seems so simple, as do so many of these principles — and yet many people, too concerned with making money or getting by, fail to truly adopt these key concepts.

What is Business Development??

Hey Guys,

I found an interesting article about business development and what it means. Adding value to any company is a great way to think of business development! 

“I do biz dev.”

Few times in history have more ambiguous words been spoken.  Ask ten “VPs of Business Development” or similarly business card-ed folks what is business development, and you’re like to get just as many answers.

“Business development is sales,” some will say, concisely.

“Business development is partnerships,” others will say, vaguely.

“Business development is hustling,” the startup folks will say, evasively.

The assortment of varied and often contradictory responses to the basic question of “what, exactly, is business development” reminds me of the way physicists seek to explain what, exactly, is the universe.  With conflicting theories on the nature of black holes and bosons, the ultimate goal for those scientists is a Grand Unified Theory, a single definition that can elegantly explain how the universe itself operates at every level.

Lacking any concise explanation of what business development is all about, I sought to unite the varied forces of business development into one comprehensive framework. And eureka, for I have found it - the Grand Unified Theory of business development:

Business development is the creation of long-term value for an organization from customers, markets, and relationships.

There is elegance in simplicity, but perhaps this definition leaves you wanting more.  At its heart, business development is all about figuring out how the interactions of those forces combine together to create opportunities for growth.  But a theorem requires a proper proof, so let’s break that statement down:

Long-Term Value

First, what do I mean by “long-term value?”  In its simplest form, “value” is cash, money, the lifeblood of any business (but it can also be access, prestige, or anything else a company seeks in order to grow).  And there are plenty of ways to make a quick buck for you or your company.  But business development is not about get-rich-quick schemes and I-win-you-lose tactics that create value that’s gone tomorrow as easily as it came today.  It’s about creating opportunities for that value to persist over the long-term, to keep the floodgates open so that value can flow indefinitely.  Thinking about business development as a means to creating long-term value is the only true way to succeed in consistently growing an organization.

Customers

The “customers” portion of the definition may be slightly more obvious – customers pay the bills.  They are the people who pay you for your products and services, and without them you won’t have any business to develop.  But not everyone is a natural customer for your business. Maybe your product doesn’t have the features I’m looking for.  Maybe your product is perfect, but I don’t even know your company sells it.  Or maybe you’re not reaching me because you’re not knocking on my door.

Markets

That’s because customers “live” in specific markets.  One way to understand markets is by geography – if I only focus on selling in the U.S. but you reside in London,  then you are currently unavailable to me as a customer as I do not currently reach the European market.  But customers also “live” in markets that are defined by their demographics, lifestyles, and buying mindset.  Identifying opportunities to reach new customers by entering into new markets is one important gateway to unlocking long-term value.

Take for example the Pet Owners market.  The customers who live there, of course, are people who own cats, dogs, fish, etc.  Petco is a company that clearly sells to customers who live in the Pet Owners market.  I, on the other hand, do not have a pet.  I don’t live in the Pet Owner market. So what if Petco wanted to sell something to me? Then they’d need to find a way to enter into a market where I do live.  For example, I have red-hair and pale skin and as such, I am prone to spontaneously combusting when exposed to the sun.  Therefore, one market that I “live” in is the Sunscreen Buyers market.  If Petco wanted to sell something to me, perhaps they can find a way to enter into that market by offering sunscreen, hats, or sun-reflecting aluminum foil suits.  Now, determining whether that’s a good idea or not for Petco to do so is a job for the business development team – and another story for another blog post.

Relationships

And then there were “relationships.”  Just as the planets and stars rely on gravity to keep them in orbit, any successful business development effort relies on an underlying foundation of strong relationships.  Building, managing, and leveraging relationships that are based on trust, respect, and a mutual appreciation of each other’s value is fundamental to enabling the flow of value for the long-term.  Relationships with partners, customers, employees, the press, etc. are all critical to the success of any business development effort and as such they demand a bold-faced spot in any comprehensive definition of the term.

So, is business development actually sales?  Is it partnerships?  Is it all about hustling? Well, frankly, yes.  It’s all of the above and as we’ll see in future posts, it’s much more.  It’s a complicated and fascinating discipline that deserves a clear understanding, so that we can marvel at the beauty of a well-done deal as much as the stars.

Check out the full article here!

Best Business Moves from Breaking Bad

Walter White's 5 Most Badass Business Moves in 'Breaking Bad'

August 8, 2013

URL: http://www.entrepreneur.com/article/227744

Slide 1 of 5

Walt intimidates Tuco

In the first season, Walt's partner in the meth business, Jesse Pinkman, has a line on a major buyer for their product who could take their business to the next level. Unfortunately, the buyer, Tuco Salamanca, is a psychopath who refuses to pay upfront for the product and beats Jesse so badly that he winds up in the hospital. Walt, who previously wanted nothing to do with the distribution side of the business, is forced to confront Tuco himself, adopting the pseudonym "Heisenberg."

When Tuco laughs off his demand, Walt detonates a chunk of fulminated mercury, which Tuco mistook for meth, blowing out the top floor of the drug dealer's headquarters. Impressed as much by Walt's "balls" as by his high-quality product, Tuco agrees to buy two pounds of meth a week from Walt and Jesse.

Lesson: Sometimes you have to do things yourself instead of delegating. And when pitching an important client, don't take no for an answer.
 

Slide 2 of 5

Walt delivers the goods

In the second season, Walt and Jesse's crooked lawyer, Saul Goodman, puts them in touch with a major distributor named Gustavo Fring. Fring has doubts about Jesse, who is in a downward spiral from drug use due to a friend's death at the hands of rival drug dealers. Nevertheless he offers to buy a few dozen pounds of Walt and Jesse's meth for $1.2 million, but gives them only one hour to deliver the goods.

Walt rushes to Jesse's house, where the drugs are stashed, only to receive no answer when he rings the doorbell and calls Jesse's phone. He breaks in and finds Jesse and his girlfriend catatonic from injecting heroin. He manages to rouse Jesse long enough to find out where the meth is hidden. While scrambling to meet Fring's deadline, Walt learns via text message that his wife, Skyler, is about to give birth. With no time to spare, he makes the hard choice, earning the $1.2 million and missing the birth of his daughter.

Lesson: Make sacrifices when necessary to meet your stretch goals -- although you should probably be present at the birth of your child.
 

Slide 3 of 5

Walt protects Jesse

In the third season, Jesse discovers that Tomás, the kid brother of his new girlfriend, is the one who killed his friend. The boy is being used by drug dealers who work for Gus Fring. Jesse announces a rash plan to murder the dealers in revenge. Walt advises against it, but is rebuffed.

He goes to Gus, and together they organize a reconciliation between Jesse and the dealers. Gus says he will stop using children in his criminal enterprise. But then Tomás is found dead, apparently murdered by the dealers. Jesse goes to confront them, gun in hand. Just as a shootout is about to begin in the middle of the street, Walt appears out of nowhere, smashing into the dealers with his car. He kills them both, one in the collision and the other with the dealer's own gun, while Jesse looks on, not believing his eyes.

Lesson: Have your partner's back. Be there when the strain of work gets to be too much for him or her.
 

Slide 4 of 5

Walt blows up Gus

Walt's relationship with Gus deteriorates in the fourth season following his murder of the dealers. Gus, however, is forced to keep him around as a chemist while he grooms Jesse, now clean and sober, to replace him.

Matters with Gus grow desperate when the drug lord informs Walt that he is going to eliminate Hank Schrader, Walt's brother-in-law who is an agent with the Drug Enforcement Administration [DEA], and that he will kill the rest of Walt's family if Walt intervenes. Scared for their lives, Walt forges an unlikely alliance with the wheelchair-bound Hector Salamanca, Tuco's uncle and a once-powerful member of the Mexican cartel who is a blood enemy of Gus.

Together they trick Gus into believing that Hector is informing on him to the DEA. When Gus shows up at Hector's nursing home to kill him personally, he encounters Walt's surprise: a pipe bomb rigged to Hector's wheelchair. The resulting explosion kills both men, after which Walt storms into the meth lab where Gus's henchman are holding Jesse and frees his partner. They burn down the lab to destroy any evidence. When the dust settles, Walt stands alone as heir apparent to Gus's criminal empire.

Lesson: Think creatively and form alliances to stay ahead of the competition. Eliminate rivals before they eliminate you.
 

Slide 5 of 5

Walt gets away

In the fifth season, Mike Ehrmantraut, formerly Gus's right-hand man, becomes an equal partner in Walt and Jesse's meth business following Gus's death and the freezing of Mike's assets. But he and Jesse, alarmed by Walt's growing volatility and callousness, soon decide they want out. Mike sets up a meeting with a distributor who is willing to buy them out of the meth trade for $5 million apiece. But Walt refuses the deal, preferring to continue cooking.

Mike takes matters into his own hands; he zipties Walt to a radiator so that he can sell their entire supply of raw materials for $15 million without the other man's permission. But Walt frees himself, stripping electrical cord with his teeth and sparking the wires to burn through the ziptie, badly scorching his flesh in the process. Earlier in the episode, after Jesse asks, "Are we in the meth business or the money business?" Walt answers: "Neither. I'm in the empire business." Only now do his partners see just how far he is willing to go to keep his throne.

Lesson: Decide what business you want to be in. And don't let anyone stand in your way as you move forward.
 

8 Cardinal Rules to Succeed as an Entrepreneur

8 Cardinal Rules to Succeed as an Entrepreneur

by Linda Descano

Over the past two years, I’ve had the pleasure of speaking with 100+ business owners from different industries and at different stages of growth about what it takes to succeed as an entrepreneur. I first shared what I learned at a National Association of Women Business Owners Leadership Conference in Philadelphia last year, and recently dusted off my take-aways, in the form of eight cardinal rules, for a presentation last week. So, here goes in no particular order:

1.      Work on your business, not just in your business. Time and time again, I heard stories from entrepreneurs about how they were so focused on their product or service that they overlooked something important in their finances, in the fine print in legal documents, or in the marketplace. Their lesson learned? Make sure you understand the “business of being in business,” which means to invest your time and energy on the management side of running a business. And, while you definitely should tap experts in accounting, finance, and the law, you need to educate yourself on those issues so that you can provide appropriate oversight.

2.      Keep your personal and business wallets separate. The old adage that business and pleasure don’t mix also holds true when it comes to your business finances. Make sure you set up separate accounts for your business, and handle your business finances in an organized ― not haphazard ― way. When it comes to money, have some in savings and a credit line available to get you through the tough times.

3.      Form an advisory board. Most of the business owners that I spoke with view an advisory board as essential to their success. They use their board compliment their “weak areas” and provide an ongoing, structured means of soliciting feedback. To be effective, make sure your advisory board is made up on people who have different disciplines, backgrounds and life experiences.

4.      Network with intent. Networking is an important activity whether you are a business owner or corporate executive. However, it is particularly relevant for entrepreneurs. Successful business owners view attending functions and joining business organizations as part of the job — it helps you build awareness for your business. And the stronger your personal and professional networks, the easier it will be to deal with decisions and challenges.

5.      Find your “business Iowa”. One of the people I spoke with is Betsy Myers, a successful entrepreneur who today is the Founding Director of Bentley University’s Center for Women and Business. In her book Take the Lead, Betsy shared how a relentless focus on "winning Iowa" by the 2008 Obama for President campaign brought clarity to an organization "under siege" and provided a strategic "filter" for deciding what to do as well as what not to do. So try having a focusing question to create clarity. For the Obama campaign, it was “Will this help us win Iowa?” Then, it becomes easier to make trade-offs. Keep distractions at bay and keep your eye on the ball.

6.      Remember that not all money is created equal. You need to know when and how to raise capital, (both equity and debt), and how to wisely put your money to work on things that adds value. You should be spending as much time researching what investors and lenders want as you spend understanding what your customers want. Understand the approach that angel investors take versus mezzanine debt investors. The more you know, the better positioned you will be to tap the capital markets and make the appropriate asks.

7.      Plan, plan, and then plan some more. Most business owners spend a lot of time planning before they take the plunge and start a business. That makes sense. But, the need to plan doesn't stop when your business is up and running. You need to still need to plan for business cycles, life events, retirement, and more.

8.      Evolve and adapt to thrive. The business owners I spoke with were always doing research and speaking to customers, partners, and more. They leverage all types of resources to stay inspired and bring a fresh perspective to their work. A great business starts with a solid business plan and a clear picture of what you bring to the market and what problem you are solving for your client or customer. Then, a great business keeps evolving and adapting.

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