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As a member of EO Reno/Tahoe, I feel very fortunate to have access to the resources that EO provides. Whether it’s Member Exchange, the relationships I’ve formed at EO Universities or the benefits I’ve received from my Forum experience, I am thankful to have the support of an elite organization.
During a recent trip to Peru, I came to appreciate the value of my EO membership to an even greater extent by witnessing entrepreneurialism in a different setting. I was visiting the country with the Eagle Condor Humanitarian, an organization that provides microloans to budding entrepreneurs. The microloan program is designed to aid aspiring business owners or provide much-needed capital to existing entrepreneurs.
Eagle Condor Humanitarian has a unique approach to lending. The first and most important part of the loan program is the business training that is provided prior to loan funding. The training covers various topics, such as marketing, accounting, business plan writing, budgeting and management. I saw firsthand how the training aspect of the loan program increased the likelihood of business success, and ultimately, the repayment of the microloan.
During my trip, I visited approximately 50 different businesses in 96 hours. The businesses ranged from small bodegas (mini marts) that were established in the entry of an entrepreneur’s home, to a dentist office that was the owner’s second location. The business owners were resourceful and clever in preparing and establishing their businesses (they reminded me of my EO peers!) I had even met widowed and single parents that had complete life changes since opening their businesses. The capital they received from Eagle Condor allowed them to purchase much-needed raw materials to open their respective businesses.
The joy and fulfillment I have received from my service to business owners in Peru is immeasurable. I had the pleasure of visiting manufacturers of beautiful metal works, quality cleaning products, delicious candies, fine shoes and popular beverages. The group was very diverse. There were men, women, young and old, and they all shared one common desire— to improve their lives and achieve a higher measure of their potential.
I have always been a believer in the proverbial “American dream”— the promise of opportunity for prosperity. In this dream, citizens of every rank feel that they can achieve a better, richer and happier life. I found out on my trip to Peru that the American dream not only lives in the United States, but is alive and well in South America, too. The dream transcends borders. With more than 7,300 members from 42 different countries, it is obvious that the dream of self-fulfillment and improvement is the common thread of all members of EO.
Being a member of EO has provided me with resources that most entrepreneurs throughout the world do not have. I feel blessed, and I have an obligation to assist my fellow entrepreneurs. I will continue to do that by supporting my peers and sharing with them stories that inspire me to grow and lead.
This experience got me thinking about the importance of defining and living company values. As a result, I have come up with five integrity questions that I’ve shared with my EO peers. The goal is to determine whether there’s flexibility in their values.
There are no guaranteed right or wrong answers. These questions are simply engineered to provide insights into how an entrepreneur conducts business on a personal and professional level. It also pinpoints where one’s values lie.
In my experience, business is so much easier if you know what you stand for. It is not what you do, but who you are that will make the difference. Competitors can copy what you do, but not your relationships or ingenuity. In my company, we live our values moment by moment. After all, if we don’t have our word, what do we have?
Two men, Bill and Frank, begin working at a hotel the same day. They are intelligent, educated and ambitious. The manager of the hotel greets them and hands them both doorman uniforms. They are to begin opening and closing the doors, helping with bags, flagging taxis, etc.
Bill thinks "Doorman? I am worth more than this! I could manage this hotel better than the current guy.” But he doesn't have an alternative offer and he needs the money, so he does the job anyway. He maintains a pained grimace on his face and deals with customers and other staff in a negative way because he is "better than this.”
Frank, in contrast, thinks "Okay, doorman. It’s not what I had in mind, but hey, I get to spend some time outside, get to meet the customers, and I'll learn about how this hotel works." He sets to work with a smile on his face and finds that he quite enjoys the small challenges he faces as a doorman at such a prestigious hotel.
After six weeks, a position at the front desk opens up, and the hotel manager immediately thinks of Frank. Frank is promoted and immediately brings his positive attitude to the front desk of the hotel. Several years later, Frank is the hotel manager. He leaves late one evening and there, opening the door with a hard-wired grimace, is Bill.
Is it luck, or is it fate? Bill will spend forever in a job that he hates and Frank will love every job that he is given. This story is such an inspiration, because it encourages me to always stay positive about my responsibilities and to find the reward in every remedial task. When hiring staff I spend more time exploring attitude and self-motivation than I do exploring capabilities. I also spend time looking to direct my employees toward challenges that are motivating for them.
When it comes to running a business, I’ve learned it’s not just about the results, but the work you put in. That’s where successful people thrive.
Like most ambitious entrepreneurs, we didn’t think we had the same problems as our customers and competition. Unfortunately, we did. My business revolves around sales recruitment, and our market had been decreasing rapidly due to a lack of job openings. We knew that if we continued along our path, we would be out of business within a year. It was time to act!
We attempted to resolve the issue by hiring a lot of employees, many of whom departed soon after they joined the company. Looking back, I know what went wrong. Because our focus was on growth, we hired new staff with ease, thinking the more people we had, the better off we would be. We did not look at the candidates’ personalities that much or consider how they would interact with the rest of the team. This negatively impacted our business, so we had to come up with a solution.
We decided to downsize four of our people, cut costs and renegotiate with several suppliers. Also, our account managers and management department got involved with our biggest customers to prepare us, and them, for better times. We even gave training and support to clients for free and helped them out with human resource management issues.
What’s more, we were very candid with our customers, which turned out to be beneficial for business. I told my clients—and my employees—that business still wasn’t going well, and that times ahead may be a lot tougher than it has been. Basically, we told them the truth. As a result, we found ourselves in position to achieve improved results and increased success.
Because of our honesty, the mood and mentality of my staff also changed. Employees went from an “It’s not going to work” way of thinking to “What a great opportunity we have here!” mindset. What’s more, the employees started to get more involved and committed to our plans. In the end, I realized that those who are frank about what they’re looking for in employees and the state of business will help their businesses reach new heights.
