In an earlier post, I shared my views on the power of listening to understand. I’ve continued to think about how we can help each other through this turmoil.

As CCAW grew, our team grew. I was no longer involved in every decision or even aware of every initiative. An empowered team making decisions without me was my goal. Inevitably, some decisions didn’t result in the desired outcome. Translation: things blew up sometimes.

No one is perfect, and my team members had good intentions. We were all in it together, working to build a great company. Naturally, we sometimes had different ideas about how to do it. Our different perspectives were valuable and often lead to amazing outcomes. But sometimes they caused us to miss the mark.

By the time something reached my desk, it usually meant a decision had worked out poorly. Instead of beating a dead horse, I learned to focus on the reasons for the decision. Why did you do it that way? Why was that the chosen path? What led up to you making that decision? Asking these questions was far more valuable than casting blame. I listened with the intent to understand, and ultimately, I did—I understood their why. Then I was able to work with them to develop solutions that supported their why.

Understanding why begets perspective. More importantly, it gives insight into the other person’s perspective. Understanding why someone makes the choices they do is a building block in (or even the foundation of) the positive working relationship required to achieve a common goal.

We’re all in this together, but that doesn’t mean we all see things the same way. Consider listening to understand why. When you do, you can begin to see things from a different perspective.

You might be interested in this short video about Colin Kaepernick's and Army veteran Nate Boyer’s desire to understand one another. It led Nate to “understand that we’re not that different, and we probably want the same things at the end of the day” and to a compromise that incorporated both perspectives.

Be part of the solution. Understand why.

I’ve been thinking deeply about what’s needed to see us through these troubling times. I shared some things I’ve learned in yesterday’s post. Today, as I sorted through my thoughts, I read a quote that resonated with me:

Try to understand men. If you understand each other you will be kind to each other. Knowing a man well never leads to hate and almost always leads to love.

                                                                ~ John Steinbeck

The best way to understand someone is to listen to them—to not just hear their words, but to pay attention to what they believe and what they feel. When we understand each other, we can relate to each other. When we relate to each other, we can appreciate our differences and love each other. If we don’t listen, or we let their words flow by while we formulate our rebuttal, or we mindlessly dismiss them, we will not understand them (and we will give them no chance to understand us).

So where do we start? No one knows what the solution looks like. That makes it hard to know what to do. As an entrepreneur, I’ve learned the power of taking a step in the right direction even when the path is nearly invisible. Often, I had no idea what I was doing, but I sorted it out as I went along. Always, I kept my eye on the outcome I hoped for. I see our current state of affairs as no different.

If you want to take that first step, here’s my suggestion:

Reach out to someone with a background different than yours—someone with a perspective on life that you might not understand. Ask them if they’re OK and if they want to talk. If they say yes, just listen.

This act is simple but powerful. Anyone can do it. You might be interested in this short video about one person who did it and how it affected the person he struck up a conversation with. If many of us do it, we will open lines of communication that will lead to what we sorely need: an understanding of each other.

Be part of the solution.

There’s nothing new under the sun. What happens today is the past with a twist. Think of a remake of a classic movie. Same storyline, new cast, better technology, bigger budget, a few plot tweaks.

Why am I talking about this? Simple . . . knowing it’s true improves the likelihood that I’ll achieve my goals. Being aware of the past improves my decision making at critical junctures. I’m less likely to make fateful decisions at forks in the road that jeopardize what I’m trying to do.

I’ve embraced history more than ever before. It never excited me in school. In fact, I hated it. Now, I enjoy it. It’s a vast trove of experiences to draw upon. The more I learn about history, the more clearly I see the present and understand what I need to do today and in the future.

I think that entrepreneurs should study history—at least the part of it that’s most relevant to them. History is full of great entrepreneurs who built amazing companies. Their stories may not make or break your journey, but they will inform it . . . inspire it . . . add interest to it.

Next time you’re in a difficult situation, consider: “What is this a remake of?”

Today I had a great conversation with investors. They mentioned how important it is to say no quickly. Their thesis is simple: you want to have straightforward criteria that allow you to quickly recognize when you can’t move forward. One example: an entrepreneur either is or isn’t a solo founder. An investor who has decided not to invest in solo founders won’t waste time and energy considering a solo founder’s startup. Listening to this reminded me of my early days at CCAW and how I learned this lesson the hard way.

Before we had a steady vendor base, I had to make cold calls and sell vendors on doing business with us. Courting tons of vendors and getting them to agree to partner with a company they’d never heard of was time consuming. Sometimes, after agreeing to terms, I would learn it wasn’t feasible to do business with them. A couple of common issues were that they didn’t have electronic products or couldn’t provide pricing data. They’d say something like, “Just call us and we’ll give you whatever you need.” I’d spent valuable time and energy on a relationship that would never go anywhere. It was frustrating, to say the least.

I eventually created a checklist of questions to ask vendors early on. It focused heavily on their technical and operational capabilities. If their answer to any of the questions was no, it wasn’t a good fit and I walked away. Over time, I refined the checklist to the point that we spent time only on partnerships that were a perfect match.

Define your bottom line and quickly say no when someone can’t meet your standards. You’ll find a lot of value in this, personally and professionally. We all get the same 24 hours; how we use them is what separates us. Walk away sooner rather than later from relationships that can’t progress.

How do you manage your time more effectively?

Today, someone asked for my perspective on the future. I gave it to him, adding the caveat that I can’t make sense of a lot of things happening right now because I lack the experience. He also wanted to share his thoughts about a new venture he’s considering.

As we talked, I learned more about this potential business, his evaluation, and his timetable. He’s sought the perspective of other entrepreneurs, researched the space extensively, and seriously thought through how to make it work with his personal situation. I was impressed.

I described how I started CCAW. My analysis wasn’t sophisticated. I had knowledge about a space and relationships in it. I saw a problem I thought I could solve. I tested to see what would happen and started the company when my hypothesis was confirmed.

To be fair to myself, I was only a few years removed from being a broke college student. I didn’t have any real responsibilities. My evaluation could be simple because the risk of ruin wasn’t a big deal. And I believe I did one critical thing right: I trusted my gut. I didn’t overthink and overanalyze. (I actually didn’t analyze much at all.) My gut said it was a good opportunity, so I ran with it. CCAW eventually reached eight figures in revenue (while turning a profit), so it worked out in the end.

At the tail end of our conversation, I asked, “What does your gut tell you?” His reply? “I should wait. There’s too much uncertainty in the business model and the timing doesn’t feel right.” I didn’t tell him this, but I agreed 100%.

The next time you’re trying to make an important decision, before you analyze, before you seek opinions, be honest with yourself. Listen to your gut first.

Has your gut helped you in your decision-making?  

This past week I hit a mental wall. Working from home and being under a stay-at-home order for four weeks definitely were the root causes this time. But even before the pandemic, every so often I—like everyone, I imagine—have had days when it’s noticeably more challenging to operate at peak productivity.

Over the years, I’ve become more self-aware and have noticed patterns in my work style. For example, I’ve usually been more productive and better able to concentrate for extended periods early in the morning. And I’ve identified the types of tasks at which I excel—and at which I don’t. I’m very good at identifying opportunities for improvement, finding the root causes of problems, and crafting creative ways to reach a goal when it seems impossible. I’m not as great at generating a ton of new ideas rapidly or moving from thing to thing in rapid-fire succession.

Even with all this self-awareness, there are still days when I’m just not as productive as usual. Over time, I’ve learned to embrace those days rather than fight them. No matter how much I want to operate at my peak, I’m only human. Earlier in my career, I would keep pushing myself and beating myself up all day. That didn’t work. Now, I acknowledge that I’m having an off day and adjust my expectations for the day. This usually means doing more check-the-box things, ending my workday earlier, and starting over the next day. I also take a moment to consider why I’m off. Sometimes it’s because of physical or mental exhaustion. Other times nonwork things are all I can think about.

Sometimes entrepreneurs are portrayed as machines who can accomplish impossible things. While it’s true that entrepreneurs make the impossible possible, we are far from being machines. The next time you’re struggling, consider embracing your off day. Think a bit about why it’s occurring. It could be nothing to worry about, or (especially if it’s not a one-off) it could be an indicator that something important is amiss that you need to pay attention to. (You’re steering your business down the wrong path? Your marriage is foundering?) Regardless, know that you’re not alone—everyone has off days.

What’s your approach to handling off days?

Tomorrow, I’m speaking with a group of rising entrepreneurs about my experience founding CCAW. They’re all very early-stage, don’t have established customer bases, and may not have a product–market fit yet. I’ve been pondering what will be most helpful considering the allotted time (it’s hard to condense more than ten years of insights into twenty minutes) and the reality of the pandemic. I decided to prepare by mapping my CCAW journey in a lifeline (a diagram of the major highs and lows of something, such as a life or a career).

Doing this exercise recalled to my mind lots of great (and not so great) times. I decided to focus on sharing the lows of my journey. My goal isn’t to be negative or pessimistic—quite the opposite. I’m assuming things have gotten very difficult, very fast for this group. By sharing my low points, I hope to communicate these points:

• Take advantage – Negative experiences mark us the most, and they shape entrepreneurs. Appreciate this time as a learning opportunity.
• Change – People are forced to embrace change when times are tough. Make wise changes.
• Cycles – They’re inevitable. Those who survive downturns ride the wave up and do well. Focus on keeping your business alive.
• You’re not alone – Every entrepreneur (and every business, for that matter) is dealing with the same pandemic. Find a peer group. Their experiences—if you pay attention to them and apply them—will help you navigate this difficult time.
• No comfort zone – When you’re uncomfortable, you’re usually growing. Get comfortable being uncomfortable.
  

Today I read the weekend paper (yep, I still read a physical paper), and it was pretty scary. The pandemic has everyone worried, and rightly so. We haven’t experienced anything of this magnitude in our lifetimes. Most of the constant updates are not positive. As I digested all of this, I thought about something else—gratitude.

Things are never perfect. I don’t have X, Y didn’t go as planned, Z was unfair, and so on. In the current environment, the list is longer than ever and that’s totally understandable. But there’s always something to be thankful for as well. I’ve been stuck in my house . . . not so great. I have a home to be stuck in . . . many people aren’t so fortunate.

Today I made a list of three things I’m grateful for (actually, I do this every day). The simple act of thinking about this and writing the list is powerful. It forces me to think about all the wonderful people and things in my life. Some days, I list things that are deep and weighty. Other times, it’s three of life’s little joys. Regardless, I take the time to notice and appreciate the good things in my life.

What are you grateful for?

Yesterday I spoke with a close friend about the current business landscape. He’s an avid investor and regularly trades his own stocks. Throughout the day, he checks the market’s performance, and he always knows how each of his positions is performing. The conversation turned to the market downturn and all the negative economic news. I asked him how his portfolio was doing, and to my surprise he said he didn’t know. I probed a little more and he admitted being too scared to look.

Reflecting on this, I realized I had once done something similar. Every morning at CCAW I was provided with and reviewed a series of reports and metrics. They detailed our current state (MTD revenue, cash position, A/P balance, etc.) and projected our future revenue and profitability. These reports were critical to my understanding of our current performance and where we would probably end up. If I didn’t like our trajectory, I could be proactive and initiate actions to change it.

We had a rough patch when we were constantly being hit with bad news. Week after week, macro things were happening that affected us negatively. After a while, I stopped reviewing the daily metrics and reports. I told myself I was too busy and tired, but the truth was that I didn’t want to see the data quantifying how bad things were.

I realized that I didn’t have the experience to navigate these rough waters on my own. I owed it to the team to do better, so I hired an advisor with experience in grappling with challenging business environments. One of the first things he asked me was how bad it was. I told him it was bad, but I didn’t have exact numbers because I hadn’t looked at the data. I expected him to chastise me, but he told me that was normal. (In fact, he had done something similar when one of his companies struggled.) It’s human nature, he said, to avoid bad news during difficult times. He encouraged me to start looking at the data regularly and discuss it with him. I did.

Takeaways:

• Don’t avoid – A bad situation doesn’t get better because you avoid it. Look at important information regularly so you can make better decisions.
• Data availability – If you don’t consistently have access to critical information, you can’t plot a course. Consider taking time to put processes in place to make that information available.
• Communication – Whether your numbers are good or bad, share the news. People will appreciate not being kept in the dark. You never know—someone may have an idea that could change things.

Have you ever found yourself avoiding during a difficult time? If so, what did you learn?

Today I participated in a conversation among successful entrepreneurs in a variety of industries about COVID-19’s impact on businesses. COVID-19 is bringing crisis to most companies.

As we talked, I reflected on a perfect storm in my past. Macro political changes were negatively affecting my business, a member of my immediate family had an unexpected life-threatening medical situation, and I was facing personal headwinds with the potential to upend my private life. It was not a fun time. The stakes were incredibly high across the board. One bad decision and life could spiral out of control quickly. I was stressed, to say the least.

I learned things then that I shared today:

• 80-year-old’s lens – Fifty years from now, when I’m in a rocking chair telling my story, what will matter most? Relationships, not accolades or wealth. I needed to align my current actions with this future perspective.
• Priorities – I’m only human. My time and energy are limited, and I can’t be effective in every domain at once. Viewing things through the lens of my elderly self, I prioritized the headwinds pushing at me and put family first. I got comfortable with the idea that other balls would drop and things would get ugly before they would get better.
• Communication – I couldn’t immediately focus on lower-priority headwinds, and there were people I cared about who would be affected by that. I clearly explained my thoughts to them. Some agreed with my priorities and appreciated my honesty. Others were extremely upset. I made sure they all knew what my top priority was, how I would be allocating my energy, and how I came to that decision.
• Focus on the light – I focused on the light at the end of the tunnel, not the darkness of the tunnel I was in. I figured that once I was out of the tunnel, I’d have plenty of time to reflect on why I’d been in it.
• Experienced advisors – I pulled together an informal group of people I respected who had experience in areas in which I was inexperienced (I even sought out and paid one person). I asked them to share their experiences with me and incorporated them into my decision making.
• Emotional control – Emotionally, I was riding a rollercoaster. But I was purposeful and made sure my emotions didn’t dictate my decision-making, my actions, or my words. I took time to talk through my decisions with people I trusted and asked them about my blind spots before I took action.

Did everything turn out perfect? No. Was the process painful? Yup. Could I have done some things better? Absolutely.

In the end, it all worked out. It took a while, but looking back, I’m happy I addressed each headwind separately. The passage of time with no action on some of these problems made them worse in the short-term. But what I would have gained from trying to solve them all simultaneously would have been outweighed by the toll it would have taken on me and the people around me. I don’t think this approach would work for everyone or every situation, but it worked for me in that perfect storm.

If you find yourself buffeted by a perfect storm (and you will if you’re an entrepreneur long enough), take time to think. Navigate it your way—not someone else’s way—consistently with your ethics and morals.