Having faith in your business...

In spite of the projected upturns in the economy, it seems that the news remains filled with companies (both large and small) going under. It grows increasingly tougher to remain optimistic about the future, when the present seems to only get worse. How do we discipline ourselves to do the right things now, so that we will be around when the economy does rebound?

I watched a movie over the weekend called Faith Like Potatoes. While it is primarily a Christian themed movie, it had a lot of tremendous applications for a business during a tough environment.

During these times, we all hear a lot of advice; better not spend any money, don't take any undue risks, delay any investments until times get better. And it's very tempting to follow these well-meaning suggestions. But the reality is, looking at our business in this way can take away the rewards that we should be striving for down the road.

In the movie (based on a true story), Angus, the main character, plants potatoes (a highly profitable, though somewhat risky crop) in a time of drought. Everyone told him he was crazy, that he would lose everything as a result. It drove those around him crazy that they couldn't see the progress of the potatoes as they grew underground. Those that went the "safe" route and planted corn could see their progress throughout the season. But Angus believed that he had done the right thing and would be rewarded when it was the time for harvest.

What potatoes are you planting? What investments are you making simply because you "know" its the right thing to do. In reality, we all operate in faith to some degree. We believe the sun will rise and set, we believe our employees will come to work, we believe that if we work hard we'll be successful. Why is it that so many remove faith from critical portions of their business?

More than ever, we need to believe that our companies will survive, and potentially thrive once again. With that in mind, we need to be equipping ourselves for the future, not just burying our heads in the sand to survive the present. Even if like potatoes, our investments are growing unseen in the near-term, we need to believe that doing the right things now will pay off in the future.

Business Lessons from the Garden

I've planted a garden this year in my back yard. It's the first year I've had a garden at this house, and the first I've attempted in years. As I work in the garden each evening, my mind thinks about the parallels between this patch of earth, and business... Sort of like "Garden Musings". The following are some of the connections that I've been making. I'm sure I will add more as the season goes along.

"Don't expect too much, it's very hard to get a first year garden to grow."

I've heard this from many people, and I'm finding there is much wisdom in their words. The soil is not cultivated or fertile. It takes a lot of time and energy to work the soil and add the ingredients to make it garden ready. They say that next year, once it's been established, it will be infinitely easier...

This is no different than going into a brand new market with a business or new product line. It takes a lot of money and effort to "prepare" the market for your offering. It is much easier to go into an established market with a product and differentiate yourself than to try to build a market where one did not exist.

"I planted a lot more seeds that what actually came up"

I'm sure this ties to my first point, but I was surprised at how many seeds never emerged. It took as much energy to plant the dormant seeds as it did to plant the ones that have sprung up. There was no way of knowing which would be which when I put them into the ground...

That sounds a lot like prospecting. You never know which appointment, or which phone call will culminate in a contracted job. It takes as much time and nerve to make a call that goes no where, as it does to make a highly successful call. As with the garden, a more established plot will yield a higher percentage of crop. However, it is safe to assume you will always have to plant more seeds than you can possibly hope to grow.

"My sweet corn didn't come up at all, so I replanted it. This time it's growing".

I love sweet corn. And I was horribly disappointed when several weeks went by with no sign of growth... So, I started over, bought more seed and planted it all again.

In business, there are times when you want it bad enough you just won't take no for an answer. If you are met with rejection, you start again (and again if necessary) until you see success.

"It takes a lot of time and effort before you see any produce from the crop"

I'm probably 60 days away from eating much from my garden. And yet I find myself spending at least an hour/day weeding, feeding and watering my young plants.

Prospects are no different. They seldom spring up overnight and bear fruit. They show some level of interest, but require nurturing and guidance before you gain the benefit from them.