Profit Coaching Roundup: Why Your Calendar Matters

There are a lot of successful business people and visionary leaders out there, and they're sharing their stories and tips on the Internet. But how do you find the stuff of real substance on the Internet that will truly help you, as a leader and an entrepreneur, find ways to refine your systems to unlock more growth potential? 

As part of our profit coaching efforts, we try to go beyond number crunching and help clients really grow their business. We weed through a lot of crap on the Internet, but we save the good stuff to share with you. Here's the 7 most insightful and inspiring bits we found on the world wide web this week:

For Entrepreneurs:

01. Are these educational standards hurting entrepreneurship?

Geoff Weiss wrote an opinion piece on Entrepreneur.com pointing out how maybe these standard educational approaches are hurting entrepreneurship in America:

1. Emphasis on conformity.
2. Emphasis on compliance. 
3. Emphasis on linear path. 

What do you think? How does our education impact the state of entrepreneurship? Read the full article here. 

02. Have a Family Business? Why You Should Divide & Conquer

The Harvard Business Review recently wrote an article about the inter-generational problems of running a family business: the younger generation just doesn't get it, right? Not so fast. This article explains why you need a "conquering" leader as well as a "ruling" leader to get things done.

But conquerors are hardly the only type of leader that works or is needed as a family business evolves. “Rulers” who can manage the organization are equally important. If conquerors build empires, rulers govern them. But the tension between conquerors and rulers is legion. The two leaders are often at odds in companies, to the detriment of organizations, which need both sets of skills.

Read the full article here. 

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For Leaders: 

01. Where should leaders look to anticipate the next change? Your business model or your life?

Remember this TED Talk from Roselinde Torres? She took a year to research what made great leaders succeed, and to find out why there was such a devastating leadership gap in corporate America.

Where should you look to anticipate the next change? Torres suggests you look at your calendar. Who are you spending time with? What are you reading? Watch the video to find out how your life affects your ability to lead.

02. Why Optimists Make Better Leaders

A recent article on Inc.com explores why optimists win out as leaders and pessimists lose. Here's the brief 5 reasons optimists make better leaders:

1. Don't take failure personally.
2. Treat failure as a temporary event.
3. Take responsibility for your failures.
4. Keep failure in perspective.
5. Encourage optimism in others.

Read the full article here. 

03. Three Phrases Leaders Should Never Use

Eddy Ricci explains why these 3 phrases can really disconnect your from your team and do more damage than you might think. Read the full article here. 

1. "Why didn't you...?"
2. "You should have..."
3. "Do you understand...?"

For the Budget-Conscious:

01. The Small Business Guide to Getting the Loan You Need: Entrepreneur.com

Here's a quick and easy reminder of a couple of things you should be doing financially with your business even if you're not thinking of getting a loan soon.

02. Tips for Startups to Avoid Crash and Burn

Dan Yoo, COO of NerdWallet, lists 5 tips to help startups avoid the crash and burn syndrome that is so common. Read the full article here. 

1. Estimate the amount of time it will take to be profitable--and then double it.
2. Hiring must lag behind the need.
3. Mind-meld with your CFO.
4. Build a war chest.
5. Don't be penny-wise, pound foolish.

Read last week's Profit Coaching Roundup Here