MEMBERS ONLY SECTION:
MEETING MINUTES
 
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MEETING MINUTES
 Friday, November 4, 2011
Volume 18; Issue 38

Member Spotlight
 This week's spotlight is Joe Zingale.  Please keep this member top of mind this week for referrals. 

Attendance
It is great to see everybody today!

Social Event
We have a social event tonight.  Happy hour at Elephant Bar (3405 W. Chandler Blvd. Chandler, Az. 85226 )from 4pm-7pm. 

Meeting Update
Nov 11 - Guest speaker Kevin Moller.  He will give pointers to businesses having a hard time collecting. 
Dec 2 - Bring money!  Phyllis Prater is going to help you get a head start on your holiday shopping.
Dec 9 - Guest speaker Dr. Sarah Tracy.  She will discuss the finer points of happiness. 

Tips for First Time Business Owners - Good Reminders

  • Focus! Focus! Focus!  Do 1 thing perfectly and not 10 things poorly.

  • Know what you do, do what you know.

  • Know how to explain your business in a few words.  Say it in 30 seconds or don't say it at all.

  • Know what you know, what you don't know, and who knows what you don't.

  • Act like a startup.  Forget about fancy cars, expense accounts etc.

  • Learn under fire.

  • No business plan can predict the future.

  • No one will give you money. 

  • Be healthy, eat right, exercise and find time for yourself.

  • Don't fall victim to your own B.S.  Impress with action not conversation.  

  • Know when to call it quits.

If you were speaking to a young entrepreneur, what is the one piece of advice you would give them?

  • Don't eat yellow snow

  • Perseverance

  • Check the competition

  • If going into a partnership, make sure you mesh

  • Get a good banker, insurance man and a great CPA.  Always pay your vendors.

  • Work hard but remember life is more than work.

  • Luck favors the well prepared.  The best way to prepare for tomorrow is to do today's work well.  Make money on everything you do.

  • Hire slowly, good interviews.

  • Don't just tell people the law.  Tell them how to legally accomplish their goals.

  • Even if you get up on the wrong side of the bed, portray being positive. 

  • Know how to size up your clients.

  • Don't be afraid to say no.

  • Align yourself with strong, ethical people.  Reciprocation happens.

  • Ideas are good but you need due diligence and execution.

  • Do what you say you are going to do.

  • You are young and dumb!  Go get kicked around a little!  And know yourself.

  • You have got to surround yourself with good professionals.  If you are in a service-oriented business, don't give it away.

  • Take care of the money.  Don't be a bigger consumer if you are in business.

  • Make sure your I's are crossed and your T's are dotted [sic]

  • Research a lot.  Join MABE.  Surround yourself with good people.

  • Learn from others, what to do and what not to do.  Think things through.  It is not all rosy.  If you can live with the downside then go for it.

  • Have a good financial plan (know you are going to make money) and a good business plan.  Make sure you have adequate funding.  You may be the best at what you do (technical ability) but you may not know how to run a business.  Get a mentor.

  • Pick your employee's brains.  Their ideas can be surprisingly good.  Your outgo cannot exceed your income.  Take care of your vendors and they will take care of you.  When you've had a good month, put it away and get rid of that debt.

  • Failure is an option.  Process that.  It will push you in the right direction.  Create an experience for your clients that will differentiate you from the competition.

  • Not to let the daily issues affect/ruin your day. 

  • Don't get too high and don't get too low.

  • When you need to get your priorities straight, stare at the back of Don's head.

Nick Carr,  Top Reasons Employees Get Fired

  • Dishonesty

  • Lying on a resume

  • Refusing to follow directions

  • Talking too much

  • Conducting personal business at work

  • Inconsistent, unreliable work ability

  • Inability to get along with others

  • Frequent errors

  • High absenteeism

  • Drug or alcohol abuse

Have you ever had an employee go to lunch and never come back?  Three times it happened to me!

Most items on the list are behavioral things.

I hire more by their personality and attitude.  It is easier to train somebody to do the job rather than change their personality.

Don't hire a cancer.  They bring the whole organization down. 

People are either going to be punctual or not.  They will be friendly with clients or they won't.  You can train them how to do the tasks.

If they come to the interview in baggy jeans, hat on backwards and punk shoes, be warned!

A loss of money - you are immediately fired.  An exposure - It will depend on the severity.  Substance abuse - You are asking for an embezzlement issue.

How do you predict a bad cancer when they interview so well?  Get rid of them as soon as you see they will be a problem.

The more recent management books suggest not trying to fix all your problems but rather focus on what you do very well.

These "bad" employees are trying to dominate you or impose their will on you.  They can change the hole work environment.  It is best to get rid of them. 

What it all boils down to...  don't hire parts-wielding mechanics or cooks...unless they are hot?