Tag Archives: Creative Alliance 12

Ten Rules for Building a Successful Business and What I Learned at Creative Alliance ’12

IMG_9535.jpg

I had no idea what I had gotten myself into when Nicole from In These Small Moments originally asked me to attend Creative Alliance ’12 (CA12). It’s a small conference in Ojai, CA at the Blue Iguana Inn. I only knew I’d be sharing a king-sized bed with Yuliya Patsay, who was nice enough to take the photos for this post.

IMG_9784.jpg

I thought I was getting away. I needed a weekend with the girls. My girls. That’s how I think of the NorCal Lady Bloggers. I believe in this crew’s potential ability to drive business just as much as, if not more than, any traditional executive in my roughly 15 year corporate career. I feel comfortable saying things to them I would never say in a corporate office. They know my secrets.

IMG_9652.jpg

Now my circle has widened. My network has grown: new relationships have formed, and other relationships continue to grow stronger.

IMG_9378.jpg

You know the stat about 85 percent of all brand purchases being made by women? Until you spend time with a group of women like the ones at Creative Alliance ’12, you might never really understand the full power and potential of that statement.

IMG_9342.jpg

This is social commerce at its best. These women are wicked smart. Motivated. They are hungry to make a difference. They have passion and heart.

This is how brands are born. This is the kind of passion Wal-Mart had once upon a time when Sam Walton was still alive.

When Sam ran the business, we had strong beliefs. These were some of them:

Rule 1: Commit to your business. Believe in it more than anybody else. I think I overcame every single one of my personal shortcomings by the sheer passion I brought to my work. I don’t know if you’re born with this kind of passion, or if you can learn it. But I do know you need it. If you love your work, you’ll be out there every day trying to do it the best you possibly can, and pretty soon everybody around will catch the passion from you — like a fever.

Rule 2: Share your profits with all your associates, and treat them as partners. In turn, they will treat you as a partner, and together you will all perform beyond your wildest expectations. Remain a corporation and retain control if you like, but behave as a servant leader in your partnership. Encourage your associates to hold a stake in the company. Offer discounted stock, and grant them stock for their retirement. It’s the single best thing we ever did.

Rule 3: Motivate your partners. Money and ownership alone aren’t enough. Constantly, day by day, think of new and more interesting ways to motivate and challenge your partners. Set high goals, encourage competition, and then keep score. Make bets with outrageous payoffs. If things get stale, cross-pollinate; have managers switch jobs with one another to stay challenged. Keep everybody guessing as to what your next trick is going to be. Don’t become too predictable.

Rule 4: Communicate everything you possibly can to your partners. The more they know, the more they’ll understand. The more they understand, the more they’ll care. Once they care, there’s no stopping them. If you don’t trust your associates to know what’s going on, they’ll know you really don’t consider them partners. Information is power, and the gain you get from empowering your associates more than offsets the risk of informing your competitors.

Rule 5: Appreciate everything your associates do for the business. A paycheck and a stock option will buy one kind of loyalty. But all of us like to be told how much somebody appreciates what we do for them. We like to hear it often, and especially when we have done something we’re really proud of. Nothing else can quite substitute for a few well-chosen, well-timed, sincere words of praise. They’re absolutely free — and worth a fortune.

Rule 6: Celebrate your success. Find some humor in your failures. Don’t take yourself so seriously. Loosen up, and everybody around you will loosen up. Have fun. Show enthusiasm — always. When all else fails, put on a costume and sing a silly song. Then make everybody else sing with you. Don’t do a hula on Wall Street. It’s been done. Think up your own stunt. All of this is more important, and more fun, than you think, and it really fools competition. “Why should we take those cornballs at Wal-Mart seriously?”

Rule 7: Listen to everyone in your company and figure out ways to get them talking. The folks on the front lines — the ones who actually talk to the customer — are the only ones who really know what’s going on out there. You’d better find out what they know. This really is what total quality is all about. To push responsibility down in your organization, and to force good ideas to bubble up within it, you must listen to what your associates are trying to tell you.

Rule 8: Exceed your customer’s expectations. If you do, they’ll come back over and over. Give them what they want — and a little more. Let them know you appreciate them. Make good on all your mistakes, and don’t make excuses — apologize. Stand behind everything you do. The two most important words I ever wrote were on that first Wal-Mart sign: “Satisfaction Guaranteed.” They’re still up there, and they have made all the difference.

Rule 9: Control your expenses better than your competition. This is where you can always find the competitive advantage. For twenty-five years running — long before Wal-Mart was known as the nation’s largest retailer — we’ve ranked No. 1 in our industry for the lowest ratio of expenses to sales. You can make a lot of different mistakes and still recover if you run an efficient operation. Or you can be brilliant and still go out of business if you’re too inefficient.

Rule 10: Swim upstream.
Go the other way. Ignore the conventional wisdom. If everybody else is doing it one way, there’s a good chance you can find your niche by going in exactly the opposite direction. But be prepared for a lot of folks to wave you down and tell you you’re headed the wrong way. I guess in all my years, what I heard more often than anything was: a town of less than 50,000 population cannot support a discount store for very long.

IMG_9439.jpg

The women I spent the weekend with at Creative Alliance ’12 are special, like the women I meet through this space. They have the raw power it takes to turn the world of business upside down and right side up. These traits are so rare in the business world today, that I am tempted to package all the digital moms of America and sell the shit out of us. Honestly, if we could do that, I bet we would make more money than Sam Walton himself.

Earn money. Live Better.