How To Beat The Recession Part II: Five Points Of View
by John R. Sedivy
Introduction
In Part I of this series I had identified a recent New York Times article which perceived Cape Cod to be operating counter to the regular economy. This seemed the perfect opportunity to introduce our story as how Amy and I ended up on Cape Cod and what our opinion of the Cape is in comparison to that portrayed in this article. Yesterday I had provided the background of our decision to relocate to Cape Cod and the advantages of living here. Today I will delve into the Times article and contrast it with my experience.
Cape Cod Upbeat
The basis of this article is that a survey of five random business owners on Cape Cod found them all in good spirits despite the economy. According to the Times article “all said they were looking for angles to exploit in a slumping economy, and all contended that no matter how bad things got, they would do just fine.” I will not take the time to outline the entire article here, as I have provided the link should you want to read the two page article, however I will pull out five important points of entrepreneurship that resonated with me: 1. Six figure incomes are being made despite the economy – Check out the profile of Bruce Davis in the referenced article for proof 2. “People who put their heart into their work always have work” – Stephen Sullivan, owner of Feathers and Fur in Dennis MA 3. “My ace in the hole is that I can do just about anything, I do what I say I’m going to do and I’m not afraid of hard work.” – Ron Landry, owner of R.E. Landry Construction Company in Forestdale, MA 4. Success may be attributed to “giving better service than people expect” and loving what you do – Symen Kooy, owner of Blossom Florist And Gifts of Dennis, MA 5. “I won’t go back to punching a clock.” – Ellen Massa, owner of Professional Nurse and Home Care of Cape Cod
The common thread among all five respondents is their positive attitude. Anyone who has ever come into contact with a true entrepreneur knows to what I am referring – the never say die attitude which seems to nearly defy all logic. When I had first met Amy it was the first time I had encountered this, and really I am still wrapping my arms around it. Amy has such a strong, positive spirit where failure is not an option regardless of environment or circumstance. Sure many people talk, however the conviction of her talk and actions impressed me from day one – and I have found this to be a common denominator among entrepreneurs.
Solid Incomes Despite A Recession
I found the highlighted story of Bruce Davis interesting. Here is an individual who made nearly 200K this year in rodent control and stocks no less. The rodent control I can certainly see. In less than my first month here on the Cape I had a skunk enter underneath the house in the basement. Not only that, the skunk must have been by the furnace during the first evening when the heat started, which proceeded to spread skunk odor throughout the house. I did not realize what had happened until I awoke to the strong smell at 4 AM – needless to say I would have paid anything to get that skunk out of there. The other aspect of his business, which he does simultaneously is short selling stock. His bet is that a given stock will go down faster than it will go up. Not such a bad bet given the recent state of things! The point here is not how he is making money, it is that he is making a decent income given the perception of the economy.
It’s All About Heart
I have found Stephen Sullivan’s statement about heart to be true. People can sense when you are trying with all your ability and can also sense when you just don’t care. I like to surround myself with people with plenty of “heart” and who care about the service they are providing, on the other hand I try to minimize the number of people within my circle who have an attitude of apathy. Find what you love to do and do it with all your heart – people will notice and you will be rewarded.
Flexibility Is Key
Ron Laundry attributes flexibility to his success and I agree that this is an important attribute. I have found success in my career due to having more breadth than depth of knowledge, or in other words, knowing a little about everything. This is generally counter culture and in the past I have been chastised for this by more specialized individuals. However for me it has always worked out. Who do you think has an easier time in the present economy; the person with deep knowledge in one area or the person with a little knowledge in many areas? Check out “Quitting To Win” by Steve Pavlina for an interesting perspective.
Service Orientation
There is no doubt that we are in a service oriented culture. Symen Kooy attributes his success to giving better service than people expect, and in doing so my guess is that he gathers many repeat customers. A key reason that I use Apple computers is because of their service orientation. Prompt, consistent, respectful service will keep customers coming back for more. Exceed expectations – always.
Do What You Say
Ron Landry gave three indicators of his success:
1. The ability to do just about anything
2. Doing what he says he is going to do
3. Not being afraid of hard work
We already discussed the importance of flexibility. Hard work, although important is not the end all in my opinion. I have always enjoyed the saying “work smarter, not harder”. Anything worthwhile generally requires some degree of hard work to get it going or off the ground – especially a business. However, the end goal should be to get it to a point where you are lessening the amount of work required to generate the same amount of output – increasing efficiency and therefore effectiveness. Refer to The 4-Hour Workweek by Timothy Ferriss for more on lessening your workload by automating processes.
People talk. Many do not perform half as well as they talk. I’m not sure why, but this is just the way of the world. How many people do you know of that do what they say? Consistently? Are they dependable? Some have no intention to deliver from the start. Others have good intentions but do not know themselves. Christopher Hodapp the author of “Freemasons For Dummies” quotes Michael Richards: “When you go into our lodge, on the back of the Tyler’s chair are the words ‘Know Thyself.’ That is important. That is the ultimate message to all Masons: truly know who you are.” Wise advice – if you do not know yourself, how can you expect others to know you?
Avoid Clock Punching
The final attribute listed was that conveyed by Ellen Massa – “I won’t go back to punching a clock.” This is in my opinion probably the single largest motivator of all entrepreneurs, they want to be the boss and simply cannot work for anyone else. They would sooner starve than work for another. Once an entrepreneur has tasted freedom it is a difficult thing to give up and true entrepreneurs will not do so without a fight.
In the referenced New York Times article which this series is based upon, Michael Alter, the President of SurePayroll (the organization who conducted the survey of entrepreneurs) was asked to explain why the sudden rebound in opinion concerning the economy. His response was that “Entrepreneurs are by definition more creative and more resilient than big companies. They’ve been struggling with the economic downturn since September, and now they’ve figured out ways to deal with it.” To entrepreneurs the choice is simple, either find a way of generating income or go work for another company or person – the choice is always the former.
To Be Continued…
In the next article I will compare my experience with that outlined in the New York Times Article. I will also discuss why it is important to make your own weather.
Entrepreneurs share a common set of characteristics that make them well suited for success!
-John R. Sedivy of Cape Cod Branding
How To Beat The Recession Part I: Move To Cape Cod
by John R. Sedivy
Introduction
Recently I had stumbled upon an article from a tweet from Cape Cod based Saltline Studio. The New York Times article was titled Upbeat on Cape Cod, Despite a Recession and basically discussed that although the national perception of the economy is down, Cape Cod maintains a high spirit – and there are examples to prove this. You may ask, how can this be? Having just moved to Cape Cod this past September I am going to offer you an insider’s perspective of Cape Cod, the local economy, and my opinion of this article.
Pick A Path
Summer was coming to an end and autumn was beginning to show itself and my lease in the Boston North End was nearing an end. With few ties I had nearly unlimited options as to where to relocate but I hadn’t a clue as to what to pursue. Should I stay in the city? It was certainly fun with the nice restaurants, active nightlife and nearly unlimited accessible events, however for some reason it just didn’t feel right – I felt as if it was time to move on to something different. How about a move back to my hometown in Cleveland, Ohio? This was a viable option – it was inexpensive, as compared to the Northeast and the familiar was certainly a comforting thought, and it would be nice to be near family, but yet again this option did not feel right – been there done that for the first eighteen years of my life.
Another option was to take an engineering or management position of increasing responsibility as I had in the past. Develop a new system or product, move to a new location, and experience something new, while receiving a healthy bump in salary and something new to put on my resume. Again, this was a comfortable option with enough change to make it interesting however a part of me was bored with the whole high technology scene. Although the products under development changed, the badge worn changed, it somehow all felt the same.
Yet another option was to pursue a consulting position in Boston or some other big city. I was closing in on the completion of my MBA from the The Johns Hopkins Carey Business School and this seemed like a logical step for career progression. A new career which would make use of my soon to be acquired education and a potential change of scene. Still didn’t feel right. So what’s a boy to do?
Drawn To Cape Cod
Just prior to the Fall, in May 2008 I had resigned from my position with a biotechnology startup which was experiencing explosive growth. I had left behind the whole enchilada – solid benefits, a nice salary, and stock options, to essentially change my life and pursue an entrepreneurial path. At that time the logical assumption was that I would change from a full time employee and become an independent consultant all while performing a similar role for multiple companies. What led me to this conclusion was really a converging of my MBA training, books I had read such as The 4-Hour Workweek, The Magic of Thinking Big, and Re-imagine (each of which I highly recommend), and the need for change.
Just before the expiration of my lease in Boston I had met my current business partner Amy. Amy was at least a step ahead of me and had started a wedding cake business called The Occasional Cake which was profitable and allowed her to gain recognition from clients and magazine interviews. Interestingly enough Amy had gone through the very same experience that I was going through about three years prior. She knew what to expect and how to navigate the choppy waters of an entrepreneurial environment. Even more interesting is that as time passed I had heard this crossing over was a similar experience for most entrepreneurs.
Coincidentally, Amy was going through significant life change herself at that point and was considering a relocation as well as evolving The Occasional Cake to a new business which would better serve to showcase her design eye, which she called asa | boston. When we first met we did not envision working together, or even see synergy in our businesses, however our friendship was based on the both of us having been entrepreneurs and the need for change in our lives which we were each individually structuring. As we got to know one another better it became obvious that we worked well together and possessed complimentary talents – our combined productivity and talent was much greater than each of our individual capabilities.
During one of our conversations we had discussed relocation. What was the next step? Similar to me Amy had considered many options which she was cycling through her mind with an attempt to come to a resolution. One such consideration was Cape Cod. Cape Cod seemed like a strange choice to me at the time as I would be moving to Cape Cod when everyone else was leaving. Wasn’t Cape Cod abandoned during the so-called, off season? What remained after the tourists left the area?
Considering Cape Cod
Although I did not realize it at the time there are many advantages to being on Cape Cod during the off season. First and foremost is that expenses are very low. A person or family can occupy an off-season rental between September and May for under $1,000 a month. On average the off-season rental is of average home size – 3 bedrooms, 2 baths, approximately 1,200 square feet with a decent yard. As an entrepreneur what does this buy you? Time. The lower your expenses the more time and money you have to put into the business.
The second advantage to being on the Cape in the off season is that the population significantly drops but not to the point of isolation. You may ask what quantifies significant? Well I am not sure really, it is just really noticeable. Businesses board up, traffic drops off, homes are unoccupied. Again, not to the point of isolation but there is a noticeable decline. Fewer people equates to less traffic and noise which allows one to reflect and relax. Also, fewer people allows one to get to know people better and form stronger bonds, fewer people equals stronger relationships.
The third advantage to being on Cape Cod is the unique environment – there is simply no place like it, especially in the off season. There are many sites to see here from natural wonders such as the sandy beaches (there is nothing quite like the beach in the Winter) to man-made wonders such as the Pilgrim Monument in Provincetown. The quiet, non-congested environment and unique settings allow one to place oneself in a truly unique environment. One of the most important lessons I had learned since moving here is that new and unique environments generally translate to new and unique ideas. As one combines education, experience, and relationships – the ideas generated as a result of this mix are nearly unlimited.
There is apparently a fourth advantage to being on Cape Cod, although I did not realize it at the time. This advantage is that it is the home to many an entrepreneur, ranging from independent do-it-all contractors to small boutiques specializing in unique products or services. I had half noticed this with the native residents I had come into contact with, but the recent Times article on the subject really opened my eyes to it.
To Be Continued…
In the next article I will discuss the five characteristics that the surveyed entrepreneurs attribute to their success here on Cape Cod in the economic downturn.
Cape Cod is a truly unique environment which is perfect for entrepreneurs!
-John R. Sedivy of Cape Cod Branding
Moving Too Fast Part II: How To Determine Your Timing
by John R. Sedivy
Introduction
In the last article I had discussed the concept of “moving too fast” which each of us has likely heard at one time or another in our lives. I had discussed how society has an unspoken rule of sticking with something for a given time and watching over time in the hopes that a situation will improve or warning signs will appear that will help us determine as to whether the situation might be right or wrong. I had concluded that because no two individuals are alike, and no two career paths are alike, that no two individual’s timing can be alike. If no two individual’s timing is alike, how does one know when the time to move on is? This article will answer this question for you and help you arrive at that determination.
Determining Your Timing
Consider the following:
1. If no two individuals are alike…
2. And if no two career paths are alike…
3. And if no two timeframes can be determined…
How does one determine their own personal timeline and not run the risk of “moving too fast”? The answer is simple. As I had mentioned in my “First Impressions Matter” article it is extremely important to – “Know Yourself”. The importance of knowing yourself cannot be overstated.
Consider your vehicle. The longer you drive a car or truck the more in tune you become with the operation of said vehicle. It becomes easier to determine the operation of your car or truck based on the feel of how it is performing – regardless of indicators or warnings that may occur. You can determine the “health” of the vehicle based on how it feels to drive it. For those of you who may be city dwellers and not own a vehicle consider some other device such as a computer or iPod – the important idea here is the longer you use a given device the more in tune you become with normal operation – you know when things are going smoothly and when things are going wrong.
Your body is the same. It releases signals to you based on your reaction to the present environment. Some individuals are more in tune with this than others. Pay attention; your body is telling you something – are you listening? Are you energized in a given situation or drained? Does a particular person energize or drain you? How frequently does this occur?
If you know yourself – mainly by listening to what your body is trying to tell you – you will know when the time is right and if you are “moving too fast”. This is not to say that you should bolt at the first sign of danger or discomfort. At the Marine Corps Non-commissioned Officer (NCO) school an instructor once advised the class that “a little bit of stress is a good thing.” Discomfort means you are stretching, and if you are stretching you are growing – which is ultimately a good thing. There is good and bad pain in life – the trick is to know which is which and determine the optimal amount by knowing yourself.
Practical Metrics
I have used two methods of measuring if it is time to move on or if I am “moving too fast”:
1. Do I feel better after leaving a given situation than when I arrived?
2. Do I feel better after interacting with a person than prior to?
The first metric I use for determining if my time has come for participating in a given group or activity. Groups are tough by their very nature. Anyone who has participated in a project-based MBA program will know this firsthand. There is something about getting a group of diverse individuals in a room and asking them to not only get along, but work together and perform an activity in a high quality manner that is just difficult and draining at times.
However, as difficult as it may be, groups are necessary. Because each person brings a unique set of strengths and weaknesses to the table, the conclusion of a group activity is generally much more powerful than what an individual accomplishment might be. The key here is to look at the conclusion of a meeting, group of meetings, or project outcome and determine if you are pleased with the outcome. Are you energized by the outcome or disappointed? Is your reaction consistent over time?
At one point I had questioned a former colleague as to their reason for leaving a previous position – her response – “I had more bad days than good”. I find this to be an effective indication of whether to continue participation in a group activity, maintaining a position, or continuing with a business endeavor. A place of employment or professional organization is, after all, a collection of individuals and groups.
Because a group is a collection of individuals; I believe the same technique can be applied to individual relationships. Think about each interaction you have with another person – does that person energize or drain you of energy? Is there a pattern over time? I have found that the most energizing of people can be a drain on occasion as everyone has a bad day – however the key is to look for trends.
Obviously this becomes easier to determine the longer you interact with a person. However I have found once you are consciously aware of your feelings that you will be able to pick this out quickly even with new acquaintances. This will strengthen your ability to draw in the energizing individuals and bypass the drains. Try it sometime.
“Moving Too Fast”
So in essence “moving too fast” should be viewed as a good thing. To me, it means that you are in a situation that is energizing, stimulating, and allowing for fast growth. Others may perceive your actions as “moving too fast” because they are not experiencing what you are. Something else to consider is that most individuals do not thrive on growth and change so the majority will not understand. Most settle in the hopes that their situation will improve without a drastic change on their part.
First and foremost – “know yourself”. If in knowing yourself, moving fast is how you best operate, then move fast if that is what works for you. Do not seek the validation of others in your decision-making – it is your life and as an individual you should lead it as such. In a future article I will discuss how to manage perception and why the relationship between perception and reality is important.
The key to determining your own personal timeline is to “know yourself”!
-John R. Sedivy of Cape Cod Branding
