I like to tell the story about raising money to start Eagle.

I went to see a venture capitalist and talked to him about the concept of them investing in our business. Most venture capitalists invest in “product” companies as opposed to “services” companies, so he spent some time trying to understand our business.

I felt like the meeting was going quite well, I had projections of numbers, a good understanding of the environment, the competitive landscape etc.

Then he asked me how much money I wanted! Well I guess my presentation was only about 90% complete because really I thought I was there to ask if the concept was one worth investigating and I didn’t really know how much I needed to get the company going yet. Opportunity lost!

Important lesson: If you are in front of someone who is in a position to help you then you need to know what to ask for!

This morning the same thing happened to a company that was pitching a group of potential angel investors. Deja vu!

The reality is that this scenario can play out in many ways, not just when entrepreneurs are looking for funding.

1. If you are a salesperson looking to break into an account you need to know what you are asking for. Is it information about the company so that you can understand the opportunity? Is it the name of the right decision maker? Is it competitive information? Are you asking for an introduction to the right people?

2. If you have an idea about improving a process at work. Are you asking for permission to implement it? Are you asking for recognition for the ideas … monetary or otherwise? Are you asking for advice about what comes next?

Often we go into meetings and are not clear about what we want … not a good idea. Sometimes you only get ones shot, make it count!

I just spent a couple of days with Eagle’s management team in our quarterly planning session.

I have talked about these meetings before … but here are some things that I have learned about sessions like these:

1. By getting away from the “day to day” hubbub you free yourself to look at the business “differently”.
2. By having a number of people involved in the process you harness the “power of many”.
3. Sessions like this give you the opportunity to challenge the “norms” of any business.
4. A session like this NEEDS to have concrete outcomes … a list of action items, resolution of certain business issues or just a commitment to a strategy.
5. You should NOT do the same thing in every session … these should NOT become a “cookie cutter” quarterly management meeting. You need to shake it up a little.
6. Off site meetings can help the management team to get to know each other a little better, in a more social environment.
7. These sessions do not have to be expensive … we have had many of them in our house, you don’t need to go “first class” when all of your time is going to be between 4 walls anyway.
8. Its good to have external input sometimes … but not too often. Outsiders don’t know your business and your culture, so a learning curve can detract from the meetings.
9. Great ideas can come from any of the participants.
10. This kind of planning will result in a healthier company.
11. These sessions also help to train new managers, educate them about company culture and the “secret sauce” associated with this particular company as opposed to their last one.
12. It is VERY easy to determine that these kind of meetings are just additional cost and everyone is so busy they can’t afford the time … big mistake.
13. Regular off site management meetings are needed to ensure that current plans are being met and to develop new and innovative ways of doing business.

I doubt I would still be running Eagle and enjoying the challenges of the staffing industry were it not for these sessions that have shaped our company over the last fourteen years.

Three years ago in February 2007 there was plenty of M&A action and the big news was the Oracle purchase of Hyperion for $3.3 Billion. There was also some big layoffs with both Nortel (2,900 people) and Alcatel-Lucent (12,000) announcing layoffs in their ongoing attempts to fix their respective woes. In February 2008 Nortel was still announcing layoffs and the news centred around economic uncertainty. Last year in February 2009 the news was once again all about layoffs and economic uncertainty. Nortel, in addition to their layoffs sold their Alteon asset for less than $18 million, which they had bought for $7 billion nine years previously!

All of which brings us to February 2010. February has not been a busy month for M&A activity in three years now, and this year is no exception. Close to home for me was Manpower’s acquisition of Comsys which will see their US professional staffing capability notably improved, and may have some spillover into Canada. Google continued its moves into social networking with the acquisition of Aardvark in addition to its BUZZ offering. Oracle purchased a couple of smaller entities, now that its Sun purchase is all done. IBM bought a small network software company that focuses on the telco vertical and Sybase bought a company that has a strong foothold in the financial services vertical.

There are signs around the world that economies are recovering from the depression … Canada gained jobs in January (mostly part-time, but at least growth not more losses), the UK is seeing strong demand for permanent staff and Spherion tell us that US worker optimism is up.

Certainly Eagle is seeing increased activity in most markets and discussions amongst my peers in the staffing industry would support the opinion that the recovery continues in the right direction . and (fingers crossed) no signs of a relapse. How governments cope with their deficits (Canada’s is projected at $55.9 Billion) and whether all levels of government will be pragmatic about new legislation (such as the proposed spam laws at the Federal level) will have a big impact on business’ ability to keep the recovery going. Just because McGuinty’s Ontario government would not listen to industry and have created the “have not” province of Ontario it doesn’t mean that Harper needs to make us a “have not” country!

I’m an optimist and the world’s economies are recovering … Canada is right there too!

We all have our own ways to “get through” the daily craziness of life.

I thought I would share one of the recent additions to our stress relief program.

Daily walks with our dog!

Here she can be seen checking for squirrels … but dogs have long been identified as a great stress reliever.

They are also a good way to force you to walk a little more, which is extra healthy.

Looking after yourself is important! Find ways to relieve your stress and to get more exercise.

Dog walking helps.

The label NICE has somehow acquired negative connotations … to be called NICE can be interpreted as boring or “blah”, when people like to be thought of as exciting or interesting. Sometimes if I describe someone as NICE they take it as an insult! I think that is a raw deal for the NICE people in our lives … because it is the NICE people that make things better!

If you go into a store and the person serving you is NICE … the experience is good.

If you are dealing with a company representative (sales person, executive or customer service rep for instance) and the person is NICE then that experience can be very pleasant.

If you are sitting on a bus, in a coffee shop, in the library etc and your interactions are with NICE people then those experiences are positive.

NICE people are thoughtful, courteous, positive and welcoming.
NICE people do not stress you out.
NICE people smile.
NICE people make you feel better about people in general.

There are plenty of NICE people who are interesting and exciting too!

Don’t devalue the label NICE … its the NICE people who make our lives better! 

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Kevin Dee is CEO of Eagle (a Professional Staffing Company)
Want to know where Canada’s hot jobs are?   Visit the Eagle Job Centre!
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For some people a commitment is like a sacred trust … if they commit, then they will move heaven and earth to deliver. I LOVE those people.

For others a commitment is something that does not have such a strong connotation … maybe they will live up to their commitment and maybe they won’t. Those people … not so much love!

Here are some things to remember about commitments …

1. If you make a promise then generally people are counting on you to deliver.
2. If you deliver on your promise then you have built credibility.
3. You can build credibility by delivering even on small commitments … I will pick up coffee for you tomorrow morning! I will send you an email response, one way or another, by end of day tomorrow! I will show up to our son’s hockey practice! ALL easy to “deliver on” and ALL build credibility.
4. When you make a promise and just don’t deliver, then you lose credibility AND get labelled as someone who can’t be trusted.
5. It is possible to not deliver, for good reasons and mitigate the “fallout”. You try really hard to meet your commitment; you give fair warning that things might not work out; you are contrite. Then you might not get labelled as untrustworthy BUT you still lose credibility!
6. Remember that you can build credibility by making small commitments and delivering … so you can recover from #5, but you need to want to recover.

Commitment is a great way for sales people to build credibility with clients.

Commitment is a great way for people to build credibility with friends and colleagues.

Commitment is a great way for people to build a career.

None of this is rocket science … in fact it is very easy.

Having said that, so many people make commitments, don’t deliver … and seemingly don’t care. They are not nice people. They are not people that you want on your team. They are not people you want as friends.

Which type are you?

I like articles that have a number of rules or principles to achieve success or improve sales or in some way make life better. They are never a “silver bullet” but they are certainly ideas that people can grasp and perhaps experiment with.

Some previous such blog entries include:

Steve Jobs 12 Rules of Success.

Ten Reasons to Pursue a Career in Technology.

10 Rules for People New to the Workforce.

This weekend I came across an article in a communication from BusinessBrief.com, that listed Walt Disney’s 8 Guiding principles, rules by which he built his empire. Once again, some food for thought …

Walt Disney was an innovator and a visionary. But he was also one of the most successful business leaders of his time. Here are eight principles that made Walt Disney one of the greatest icons of the 20th century:

1. Provide a promise, not a product: The legend goes that Walt Disney was sitting on a bench watching his daughters ride a carousel when he came up with the concept for Disney World. He noticed amusement parks and state fairs were always littered and poorly organized, and the employees were generally rude and resentful.
His wife once asked, “Why do you want to build an amusement park? They’re so dirty.” To which Walt replied, “That’s the point. Mine won’t be.” From day one, Disney has focused on “the experience” as a key component to increasing the value of its parks.
2. Always exceed customers’ expectations: One of the reasons the Disney tradition stands the test of time is that Walt Disney was more critical of his creations than anyone else could ever possibly be. He was a relentless perfectionist with a keen eye for detail, often forcing projects to go over budget and past deadline because he wasn’t satisfied with the finished product.
3. Pursue your passion, and the money will follow: Walt Disney went bankrupt more than once, leveraging everything he had in terms of assets in order to build his studio, his films and his dreams. The more profit one project yielded, the bigger the next would be. His vision was constantly growing, and he used whatever capital he had to allow that vision to evolve. His films and theme parks were labors of love, built to revolutionize an industry, rather than maximize profits.
4. Stay true to your company’s mission and values: Walt Disney was famous for saying, “I hope that we never lose sight of one thing – that it was all started by a mouse.
”Decades later, Mickey Mouse is still the crown jewel of the Disney franchise, representing all the good will and imagination Disney represents. He’s also a constant reminder that the company has strong roots and it embraces American values.
5. Differentiate your offer: Every facet of Disney’s operation is unique. Employees are called “associates,” visitors are called “guests,” creative designers are called “Imagineers.” And that’s just the beginning. The experience of being at a Disney theme park or staying at a Disney resort is all about creating a dream vacation – one where the attention to detail and personal service is just as memorable as the attractions themselves.
6. Lead by example and delegate: Walt Disney was the artist who originally sketched Mickey Mouse, as well as several of the other iconic Disney characters. He even voiced several characters and provided the inspiration for a lot of Disney’s animated classics. But as he built a studio and then an empire, he hired reliable men and women who understood his vision and trusted them to translate that vision to others. By the time Walt broke ground on Disney World, he hadn’t drawn a character for decades, nor was he a daily fixture at creative meetings. He built a strong foundation and developed self-reliant managers who embraced his vision. That allowed him to turn his attention to even bigger dreams, while the company and its employees continued to prosper.
7. Defy convention: So much about Walt Disney’s rise was about bucking the odds and ignoring the critics, whether it was show biz insiders telling him no one would ever sit still for a feature-length animated film, or others saying Walt was crazy for buying acres and acres of murky swampland in central Florida, Disney always trusted his instincts first. Einstein once said, “Great spirits have always encountered violent opposition from mediocre minds.” Walt Disney was a perfect example.
8. Leave behind something to grow: According to one historian, “The true measure of a man’s greatness is what he’s left behind to grow.” Disney World didn’t even open its gates until nearly five years after Walt Disney’s death. And yet, the tradition continues to evolve, almost 45 years later. While Disney has diversified in a number of ways, it’s still the company that started with a mouse. Perhaps Walt himself put it best: “Disney Land is something that will never be finished, something I can keep ‘plussing’ and adding to. I just finished a live-action picture. It’s gone. I can’t touch it. I want something live, something that will grow. The park is that.”

A recent Robert Half survey of 1,400 Finance Executives (not salespeople) asked the question “Other than in the office, what was the location of your most successful business meeting ever?” Here is what they said …

> restaurant (36%)
> trade show or conference (25%)
> sporting event (4%)
> golf course (3%)
> in a car (1%)
> on a trip/plane (1%)
> nowhere else (24%), and
> other/don’t know/refused (4%).

An interesting result I thought … I have long been of the impression that a good breakfast/lunch/dinner conversation can be as (or more) effective as a round of golf, and much more productive (amount of time invested).

Not a popular opinion, and I’ll never change the minds of the golf lovers who will always come up with reasons to take prime work hours and spend them on a golf course!

I think the favorite line is “You can’t beat 4 hours of one-on-one time with a client on the golf course“. I beg to differ … AND it is never 4 hours, if its a tournament it can be all day, at a minimum its 6 hours with travel etc. That is a big investment of time!

Back in August 2006 I wrote a blog entry called Golf … Business Tool or Boondoggle. I haven’t changed my mind.

February 15th Celebrations

Family Day (Canada and others)

Family Day is celebrated in the provinces of Alberta, Ontario and Saskatchewan. This holiday falls on the third Monday in February and celebrates the importance of families and family life. It is meant as a day where the whole family can take part in activities together.

In the provinces of Alberta, Ontario and Saskatchewan most people have the day off work and schools are generally closed. Most businesses and organizations are also closed

Family Day was first held in Alberta in 1990. It was supposed to reflect the values of family and home that were important to the pioneers who founded Alberta. It gave the workers an opportunity to spend more time with their families. Family Day was introduced in Saskatchewan in 2007 and Ontario in 2008. One of the main reasons for introducing Family Day was that there was a long period when there were no holidays from New Year’s Day until Good Friday.

Around the World:

Family Day is not just celebrated in Canada … for example in Australia the first Tuesday of November is known as Family and Community Day and in South Africa, the day after Easter Sunday is Family Day.

Louis Riel Day (Canada)

Louis Riel was a Canadian politician, a founder of the province of Manitoba and a leader of the Métis people of the Canadian prairies. He led two resistance movements against the Canadian government. He sought to preserve the rights, culture and heritage of the Métis. In the province of Manitoba, Louis Riel Day celebrates Riel’s life and achievements and is observed on the third Monday of February.

On September 26, 2007 Manitoba passed a bill establishing the third Monday in February as a statutory holiday; Louis Riel Day. In other areas of Canada, specifically Toronto, Louis Riel Day is observed in November as this was the anniversary month of the execution of Louis Riel in 1885.

Heritage Day (Canada)

Heritage Day is an opportunity to celebrate the architectural heritage and historic places of Canada. The Heritage Canada Foundation promotes the third Monday in February each year as Heritage Day and has long advocated adopting this date as a national holiday.

For Heritage Day 2010, Canada’s Olympic year, HCF is celebrating the Heritage of Sport and Recreation.

President’s Day (US)

Today is President’s Day in the US, also sometimes known as Washington’s Birthday. It’s a federal holiday, established to honor the February birthdays of the nation’s first president, George Washington, who helped found the country, and the nation’s 16th president, Abraham Lincoln, who helped keep the country together.

Summary:

I guess all of the celebrations over the last couple of days just go to show that we will do anything for a holiday!!