Tag: Smallbusiness

The End Part 17: I Guess I’ll Be An Artist

“You don’t learn to walk by following rules. You learn by doing, and by falling over.” ― Richard Branson

To be more specific about the title, I will just become a drawer of some sort. Why? Simply because is it back to the drawing board for Go-Go Babyz. After six months or more of negotiations with the buyer they have decided to back out. It’s a bit frustrating and deflating but that is how it goes sometimes with a negotiation of this nature.

I have made the decision to just accept it. I do not have the time, energy, or desire to be angry or resentful. The only part that really bothers me is the time spent on this negotiation. Time is the most valuable, non-renewable resource. They said yes to purchase the business pretty early in the process and the majority of the time was spent negotiating the terms. I really had no reason to think that they would back out. If that was naive, so be it. The best I can do is learn from the experience and move on.

The truth is that I can’t blame them for their reason. They said that they have other big projects and plans that they are currently working on and this would really just be a distraction. I can respect that. There have been several times in the history of Go-Go Babyz that we squirreled off the path with projects that diverted us from our core business. Many of these detours seemed like good ideas at the time, presenting future potential but the result was a lot of hard work for very little reward or contribution to the bottom line, if any at all. At the end of the day, the bottom line is really what matters because that is what determines whether or not you are actually in business. Unless, of course, you are one of those businesses that seem to have an endless reserve of cash to burn. I can assure you that we are not one of those.

Perhaps the greatest lesson that has come from running business over the last two decades has been the ability to find the lessons in mistakes. There will always be wasted time, mistakes made, money lost, etc, but if I can look back at each experience and find the pearls to carry forward, is any of it really a waste? I can assure you that there have been many times that I spent much too much time, money, and effort on things that became flops. I can also assure you that the duration of these mistakes have become shorter over the years. I have become better at knowing when to say when. Maybe they can be expensive lessons but if they make me better at what I do that is a good thing right?

An example is that I now go into these situations or projects with a better structured strategy. The most important part of the strategy is the exit plan. It doesn’t have to be a very detailed or sophisticated plan. I simply have to say we are going to do “x” with the expectation of “y” as the result. If “y” doesn’t happen by “a” time or after “b” money is invested, we are out.  That’s it. That thinking provides some parameters and the details of the strategy provide the framework for the plan of action and the rules to operation.  The stop point is clearly spelled out so there is no excuse if the hemorrhaging begins and a decision isn’t made to stop it.

That said, another very important lesson is to be flexible. Flexibility must be woven into your strategy and decision making process. For example, If you do not reach the goal of “y” within the parameters of “a” or “b” but there is something that indicates “y” is just around the corner then push out the parameters a bit. Not too much, but a little bit to ride the tide to see which way it goes.  One must remember that we cannot predict the future so the stop points in our strategy can be off. They are really just markers to keep us on track. Therefore, we need that flexibility.

In retrospect, take those so called mistakes and turn them into assets to make you better and stronger moving forward.  Remember, hindsight is 20/20. If Sir Richard says it is alright to fall over, then fall over now and again if it makes you better.  The past is the past and it doesn’t have to repeat itself if we learn from it.

Now if you’ll excuse me, I have some drawing to do.

Talk Soon,

Kevin W @LEAP272
Owner-Operator

You have to leap if you want to live

To Defy The Laws Of Tradition Part 1: What does it all mean?

“To defy the laws of tradition. It’s a crusade only of the brave.” – Les Claypool, Primus

What does it mean to be brave? What are traditions? What are the laws of tradition?  What is a crusade? How does one defy the laws of tradition? These are the questions running through my head when I read the opening quote. I guess to answer those questions literally I have to break each word down and define them. Not on my own, of course, there are dictionaries for that. Let me take them in the order they appear in the quote from this fine Primus song…

Defy – verb

1: to confront with assured power of resistance
2: to resist attempts at
3: to challenge to do something considered impossible

Law – noun

1: a binding custom or practice of a community: a rule of conduct or action prescribed or formally recognized as binding or enforced by a controlling authority

Tradition – noun

1a: an inherited, established, or customary pattern of thought, action, or behavior

1b: a belief or story or a body of beliefs or stories relating to the past that are commonly accepted as historical though not verifiable

Crusade – noun

1: a remedial enterprise undertaken with zeal and enthusiasm

Brave – noun

1: one with mental or moral strength to face danger, fear, or difficulty: one who is brave

Brave – adjective

1: having or showing mental or moral strength to face danger, fear, or difficulty: having or showing courage

Great. Now that I know what all these words mean let me attempt to answer the questions being spun by the squirrels in my head.

What does it mean to be brave?

The dictionary defines it pretty well but I like simplicity so I will say it means to be courageous.

What are traditions?

Again, the definition above is pretty clear I will just add for the context of this article, a standard way or method of doing things.

What are the laws of tradition?

I will interpret this as the rules or guidelines that govern an inherited, established, or customary pattern of thought, action, or behavior as commonly accepted by a group or body of people.

What is a crusade?

For simplicity, let’s just call it a passionate mission.

Now, what does this have to do with anything and why am I thinking about it? Besides that fact that I am gearing up to see Primus tomorrow for the first time in years, I have been thinking a lot about the what, how, and why I cook, bake, and create as of late. The business is in transition right now. We are getting ready to expand into a production kitchen and we have been experimenting with a variety of desserts to create a menu for the new kitchen.

During this process it came to me that I like to take traditional desserts or dishes and put my own twist on them. Not always just minor twists. Some are reconstructing the entire recipe, essentially making a new and different recipe all together.

I don’t do this to be unique or different, necessarily. Oftentimes I simply do this out of laziness. I don’t want to have to keep looking at a recipe. That involves getting the recipe and continuing to reference it while I am cooking. That just breaks up my flow and continuity. I would much rather commit it to memory or create my own version that I memorize. He latter is the result of the rebellious side of me that wants to do things my way and defy the laws of tradition.

This has been a theme throughout my life and is just part of my nature and the way in which I am wired. Sometimes it works out and other times it completely backfires. At the end of the day it is much more exciting to me and nourishing for my soul to create. Whether it’s a recipe, a blog post, a logo, or anything in between I am much happier living in the creative space. It is often about the creative process rather than the finished product.

Stay tuned as I go through my start up and life escapades answering what it means to defy the laws of tradition. I bet you thought I forgot about that last question and was just rambling on and on talking “the balls off a rhinosaurus” didn’t you? Call me bizarre…see you next time.

Psst! I wrap up the End series in a few weeks. We are getting close to finalizing a deal.

Talk Soon,

Kevin W @LEAP272
Owner-Operator

You have to leap if you want to live

The End Part 16: Dance With Me

“Either run the day or the day runs you.” – Jim Rohn

Selling is a game. Selling is a dance. Or so I have been told by the wise ones that have come before me. The sales negotiation process is a dance between the buyer and the seller. The goal is to always be the lead and control the situation. That sometimes means letting the other party think they are in the lead and controlling the deal. That is where the opening quote come is; you either run the sales dance or the dance controls you. That means control the deal or the other party wins. Unless, of course, the deal is a win-win for all parties involved. I have also been told by some wise ones that there is no such thing as a win-win, but that is a discussion for another time.

Let me be frank; I don’t like this dance. I am not much of a dancer as it is. The most “dancing” I’ve done was in mosh pits at concerts. I don’t think the violent nature would be good in this application. I simply do not like the back and forth, the half truths, the waiting, the deflection of responsibility, and so on. No one wants to make a decision or assume responsibility for their side of the table. They always have to go back and talk to “someone” that cannot ever seem to leave their office and join the dance. My father in law calls this person the “wizard in the back.”

In our present dance, I think their wizard is their lawyer. This wizard has been sitting in the back without providing more information for too long. I’m tired of slow dancing, let’s pick up the pace. Maybe that’s the old mosher in me talking but it’s time “run the day!” They have had us sitting in uncomfortable silence for too long. So, we pushed back and took back the lead. We want to know if we are moving forward or moving on. Hopefully, we make some progress this week.

This process has brought up an important lesson that I have learned running businesses the past couple decades; hire people that make you and your business better. As the boss or owner I always wanted to be better or smarter than those that worked for me. That just results in a team of less-thans. That is not good for growth and progress. Not to mention furthering my skills and knowledge. It is best to bring on people that have skills and knowledge in areas I lack. For example, I do not like sales and I am not that great at negotiations, therefore, I want to add people to my team that are better than I in those areas. Following this strategy builds a strong team that is rich with diverse skills. 

The great ones throughout history know that they don’t know it all. They know they become better and stronger by the people they surround themselves with not by doing everything by themselves on a lonely throne. They create a dance team that can take over any dance floor.

Talk Soon,

Kevin W @LEAP272
Owner-Operator

You have to leap if you want to live

The End Part 14: The Sound of Silence

“If a tree falls in a forest and no one is around to hear it, does it make a sound?” – Author Unknown

The riddle makes me wonder if a door shuts and no one is around to hear it, does it make a sound? Strange thing to think about, right?

The potential buyer of Go-Go Babyz has gone quiet for about a week now. A little disconcerting because things were moving along well for a couple weeks. I hope a door has not been shut because the default reaction to the sounds of silence for my over active mind to fill the void with noise. I don’t do well in silence so I create thoughts, scenarios, outcomes, rhymes, reasons; you name it, to fill the empty space in my mind. Unfortunately, they are not usually good.

This could just be a negotiating tactic. Retreat to silence, go dark, ghost the other party; however you want to label it, the tactic is quite common and effective. It makes the other party, in this case me, a bit unsettled. It is working.

The key is to not let fear set its hook. When the hook is set the result is often poor decisions and bad behavior. It is easy to react when this happens but that will serve no one. Except maybe the other party if they end up with more leverage in the negotiating process. I do not want that so I need to practice patience and trust. This is not a small deal. These types of deals take time and happen in the background to life and normal business operations.

There is a grace period in these types of situations. Ten days is a good number. The lead person on their side could be on vacation, could be sick, or could be traveling for business overseas, just to name a few.

As I said above, I don’t do well in silence. I also don’t well sitting still or when other things are idle. Like projects or deals. I want movement and progress. I want to know that things are getting done and moving in the direction I want them to. Learning to deal with this has been a process over the last twenty years of running businesses. Early in my career I would fill the empty spaces with negativity, creating worst case scenarios. All this would do is rile me up and create a lot of fear, anxiety, and anger. That is a bad recipe for me. I make poor decisions, both personally and professionally under such conditions.

Over the years I have become better and creating comfortable silence. I do this by practicing acceptance and being patient. I do not try to fill the empty spaces as often, I let them be. They will be filled naturally as thing progress. I do this with three main practices that I have learned over the years. The first is mediation. This discipline helps me clear my mind and build my stamina for silence. It helps me to be more at peace and accepting of the natural timing of things. I think, feel, and act better when I regularly practice meditation. Even if only for five minutes a day.

The second is writing. That is exactly what I am doing now with this series. Not only do I hope my story and experience will help others, but it helps me get the mess out of my head. That does three main things. Number one it takes the power out of the crazy thoughts I create. Number two, it makes some sense out the mess. And three, it creates space for positive thoughts to enter. I know it sounds cheesy but it works.

The third is the mental exercise of trading places. I try to put myself in the other party’s place. That helps me to see things from their side. Quite often I will realize that they are doing exactly what I would in their position. Of course, I can never know exactly why, but it helps to see things from more than one position.

So, I will sit in comfortable silence and go about my normal business…

For a few more days that is, because the grace period is almost up!

Talk Soon,

Kevin W @LEAP272
Owner-Operator

You have to leap if you want to live

The End Part 11: Come A Little Bit Closer…

“Come a little bit closer to this” – Glenn Danzig, The Misfits

Like when a “black dress moves is a blue movie” I am getting drawn in to the excitement of potential. Of course, Mr. Danzig was writing about the allure of Vampira but these business opportunities can be quite similar. I get drawn into them with visions of grandeur and I get bitten.

The current status of business with the businesses is this…

We are still in negotiations with the sale of Go-Go Babyz. The talks seem to be moving at a snail’s pace, but is probably just me perception because I am so ready to move one. On the other court, we have a couple opportunities knocking on the food business door. Exciting, exciting.

There are a lot of potentials floating around and as a daydreaming entrepreneur I need to be careful I do not get swept up in the moment and allure of the shiny objects. I need to stay grounded and focused on real data, not daydreams. This creates another potential opportunity; one to practice hard lessons learned from my past experiences. There have been times throughout my entrepreneurial career that I have been taken under the spell of opportunity. It is a spell that I actually cast on myself with my overactive, daydreaming mind. I can tend to drink my own kool-aid.

Don’t get me wrong, I make some good kool-aid but when I lose the ability to make logical, educated decisions, I have drunk too much. In the past, it has been easy for to let my ideas, daydreams, and visions sweep me away and make rash choices that turn out to be bad for business. I have been bitten too many times and I hope that I have learned my lesson. I do believe that each bad decision has made me stronger and better at what I do. Mistakes are how we learn best. So, with these shiny new objects floating around, I hope I can pull that acquired knowledge, and self restraint from the crevices of my mind and make good decisions for the sale of one business and the growth of another.

Let me end with that and urge you to know that it is good to fail. Just do it fast and early! Failure is one of the greatest teachers. The key is to make sure you look at each one and learn from them. That is how you keep getting up and getting better. Take a moment to analyze the failures of your past and see what you can carry forward to make you better today. It is very rare to hit it out the park on your first at bat so don’t beat yourself up.

Talk Soon,

Kevin W @LEAP272
Owner-Operator

You have to leap if you want to live

The End Part 10: 5-4-3-2…GO!

“It’s meant to be, you can’t change fate.” – G.B.H.

I don’t really know what is meant to be but what I do know is that when I get out of the way, things just seem to work out better. Things tend to get messy when I get in there and start trying to control the things I have no business controlling.

One of the hardest lessons in business is realizing that time is the greatest asset and resource AND, that I have no control over it. I can do everything in my power to make things happen in my time but they are all just guesses. In the most basic and general sense I’ll call it timing the market. Can it really be done? It sure appears that it can when you look at the track record of some very successful entrepreneurs. I don’t want to go down that rabbit hole today. I will just boil it down to the fact that some people just have a great sense for timing, reading the market, and a little bit of luck on their side. Not to mention a great team working with them.

The reality is, most of the time we only hear or read about the “perfectly” timed events. We do not hear about the failures, losses, and missed opportunities. Although most entrepreneurs love to talk about the failures and how they made them better. That too is topic for another time.

What I do want to talk about is how I have learned that I want everything now. I want everything to happen in my time. Further, that quite often, my time is not aligned with everyone else’s. Right now discussions have opened up with an interested party to purchase the business. I want it to happen right now so I get on with it. Shut this door and close the chapter so I can start writing a new one. I know that if I keep that mindset I will grow more and more impatient and frustrated which is not good for any negotiation.

I have to remember that this transaction is not a time bomb and will not explode on expiration.  Yes, many transactions or offers have expiration dates on them but we are not there yet. I need to just do the work and provide the information they need to make an educated decision. If the roles were reversed I would be doing the same thing they are doing. Acquiring a business is major decision no matter the size and shouldn’t be taken lightly.

I need to practice patience and be open to the process, and the offer. For today, I will let time continue to tick while I move closer to closing this door.

Talk Soon,

Kevin W @LEAP272
Owner-Operator

You have to leap if you want to live

The End Part 7: The Never Ending Story

“Have patience. All things are difficult before they become easy.” – Saadi

Have you ever read a book that you just wanted to end? You just can’t wait to read the final page, close the book, put it on the “read” book shelf, and place the book mark in a new book. That is where I am right now. I feel like I am in story that just won’t end and all I want to do it get through it.

Of course, there are many versions of this, right? It could be that the book is so gripping you can’t put it down and you are so excited and anxious to see how it is all going to turn out. It could be that the story just drags on and you just want to finish it. You are no longer interested but putting the book away before finishing it would feel like a failure. Sometimes it is a great book but it is just so darn long. The type of book you have been putting off reading because just looking at it is overwhelming. It’s simply too long, how can you even hold a book that big comfortably and enjoy reading it? Once you start reading  a book like that it feels as though you are only reading a page a day and making no progress.

Or maybe it’s a mix of all the above. That is where I am sitting right now; never ending story limbo. There are ups and downs. Sometimes I want to be a part of it and other times I just want to leave the story and never return. The problem in my case is that I am one of the lead characters so I can’t leave the story. This story is just dragging on. I am very excited to see how it will end but I am stuck in the same scene where it just feels like there is no progress being made. It’s just the same scene over and over again

I am so ready to wrap up this chapter and sell the business. I am ready for a new chapter in a new book. It has served us well for nearly twenty years. It’s a great turnkey business to acquire for anyone in the industry. Why are people not knocking down our doors?

The anticipation of what is on the next page leaves me to create a variety of scenarios. Like the old choose your own adventure books. The problem in my case is the story has not been written yet. I can choose to envision any outcome but whatever page I choose to turn to is still blank at this point. The story has not been written, the book is incomplete.

The pandemic has taught me that life can be short; life, business, friendship, etc, can end in an unforeseen instant. Life happens in the moment. Transactions happen in the moment. Preparation happens in the moment. Everything happens in the moment. Therefore, the present is where I must live. I am anxious for this book to end so I can focus on my other businesses and what else is to come, but I can only write so many stories at one time, let alone be the lead character.

For now, I will live today and continue to do what I need to do to prepare for the ending of this story. The story will end when the story is over.  I guess there is more to come with is one.

Talk Soon,

Kevin W @LEAP272
Owner-Operator

You have to leap if you want to live

The End Part 6: The Waiting Game

“The waiting is the hardest part.” – Tom Petty

Waiting is torturous. It’s brutal. I don’t do well sitting idle. I have to move and get things done or I feel like I’m being irresponsible and lazy. It is one of my downfalls; impatience. I always want things to happen in my time, yet there is no Kevin time in the greater expanse of the universe. It only exists in my head and the vortex I pull people into when things are not happening in my time.

That is exactly what is happening right now; nothing. We are sitting in limbo with the sale and closure of the business. Steps that are seemingly being taken while walking thorough molasses. Can we just get on with it?

This will just be short because, as I pointed out, I am just waiting. And waiting and waiting and waiting. So, while I wait…

Let me impart a little bit of hindsight knowledge; be patient. They say good things come to those who wait. Well, it isn’t always good, but if I let go of control and attachment to outcomes it is more tolerable and it is easier for me to practice acceptance. When we wait with expectations we set ourselves up for disappointment. I have slowly learned, and am still learning, that practicing patience allows me to be open to the outcome whether it turns out to be what I thought I wanted or not. Many times the outcome has been opposite of what I thought I wanted but exactly what I needed.

Patience allows room for change; a change of perspective, a change of desire, a change of direction, etc. When I am impatient I am projecting what I think I want and desire on to an imminent outcome that may or may not align with what I have conjured and created in my head. And if it doesn’t align, all hell breaks loose. That hell is cast upon all those in my vicinity. That is not a good way to operate.

Therefore, as I sit and wait this time, I try to remember the lessons of my past disappointments. I try to learn from my past mistakes and be in the present and focus only on what I can control. I can control my attitude and I can control the work I choose to do in the meantime. I can only do my part. Beyond that I must continue to wait…

And wait, and wait.

Talk Soon,

Kevin W @LEAP272
Owner-Operator

You have to leap if you want to live

The End Part 5: A Wrinkle In Time

“Our greatest glory is not in never failing, but in rising every time we fail.” ― Confucius

As I write this, it is just about a year since the world shut down. Not to mention the business this series is about. We are a travel related business and when no one can travel there is no need for our product. Covid was the final nail in the coffin for us.

The reality is, we already begun digging the hole with one foot in. We were already on a downward slope to begin with. We have spent the last five years trying to heal and recover from one blow after another. Many of the blows were beyond our control but the impact of many could have been minimized or prevented had we done some things differently; hindsight is twenty-twenty.

Looking back through the glass there are many lessons to be had for the choices we made over the years. The hard truth is we can really go back to day one and see that the manner in which the corporation was formed and structured placed the business in a vulnerable position financially. After that, we backed ourselves into a corner as a one trick pony; easy prey for bigger companies to pounce on. We didn’t realize it until it was too late.

I have shared on many occasions the events that led to our first major fall so I will not go into detail here. The fact is that we have been working to recover from that for nearly a decade. It has truly been a roller coaster ever since. We climbed pretty high several times but would fall back again. We were just never able to get back to that high point again and maintain our position. It was always one thing after another; a recession, copy cat products, trade wars, factory headaches, the list goes on.

Each issue alone was not the biggest deal but when you are already in a compromised position, the impact hits harder. So, we did our best to mitigate the external issues beyond our control but the timing was always off. Looking back that begs the question “did we really do our best?” I can only answer for my choices and actions and the answer is a resounding “NO!” I absolutely did not do my best.

That it a blessing and a lesson in and of itself. The ability to see our mistakes and admit we were wrong is huge. That places us in a position to learn and grow from the mistakes. There a many to be had through the years of this business which prevents the mistakes from becoming failures. Not that a business that operated for twenty year is considered a failure, but I can easily throw my thoughts to the darkness and say that I failed because we are shutting down.

I will close with that and leave the lessons to be shared in another part. For now, we are still in limbo with the closing. This door sure is taking its time to shut!

Talk Soon,

Kevin W @LEAP272
Owner-Operator

You have to leap if you want to live

“Time is like a fuse, Short and burning fast” – Metallica

I feel the end is near yet so far away. I am sure someone wrote that in a song as well. It does ring a bell. That is where I am right now, just stuck in ending limbo. There is no abrupt ending to a twenty year old business. I can’t just shut the door and open another, no matter how hard I slam it.

I should not be surprised. This business has been a roller coaster from day one, why should the final chapter be any different? This section I will reflect on that roller coaster while I sit in limbo with anticipation mixed with a little fear.

To set the stage a bit, this business was founded like most others; an idea that solved an immediate problem. The idea sprung when two families were experiencing the problem at the same time. The reality is it probably wasn’t an original idea. Ideas are cheap, they are a dime a dozen. The difference is what people decide to do with them. We decided to do something. That is the major difference between entrepreneurs and the average folk.

Is there any right timing for anything? The reality is, if you are waiting for the stars to align, the lights to turn green, and all the ducks to be in a row, you will spend your life waiting while opportunities continue to pass you by. No more waiting here. As a matter of fact, we made the no more waiting decision when launched our first business in the garage of the house we just purchased, just before our wedding, just after Kerry was pregnant with our first child. Perfect timing, right? Did I mention that we both had full time jobs?

Here we are a year into our first start up and Kerry is ready to start a second. By this time our first child was born and was six months old. I just can’t think of a better time to launch start up number two, can you?

Fast forward a bit and Kerry had to leave number one to focus on number two. Good choice because five years in to number one it was done and we were buried in debt. Number two however was looking good. Remember I said it was a roller coaster and where do they go? Up.

We rode it up and it got to a point where I could hop on board. I always helped a bit but we were afraid to put everything in one basket so I never went all in. Now that I was all in we were looking good moving up having a good old time and enjoying a little success. At some point, however, we realized that we were making the same mistake with the business they we were trying to avoid with our family; we put all the eggs in one basket.

We relied on one product to provide 90% of our business. We rode that for a while but we decided it was time to diversify if we wanted to survive for the long term. We began planning for growth and as we were still climbing higher not one but two competing products hit the market; both by bigger companies with deeper packets. You know the saying, “what goes up, must come down.” Come down we did. That wasn’t the first drop on the ride but it was definitely the first big and fast one.

That was a while ago so obviously we survived. There were a lot of ups and downs during our recovery phase but we never quite got back to where we were. There are so many things beyond our control that caused obstacles for us, many which would knock down a few rungs. The good news is that each one provided some great lessons that made us better and stronger. I will dig into to some of those in another part when I actually close the door. 

So, stay tuned, the ending truly is near, the door is swinging shut, it’s just a slow burn as we finalize everything and wait. And wait. For me, the waiting is often the hardest part.

Talk Soon,
Kevin W @LEAP272
Owner-Operator

You have to leap if you want to live