Yesterday in Managua

I spent yesterday in Managua, visiting Harvest, Rancho Santana’s little gourmet bistro, which I’d never seen before, and also an exhibition of Nicaraguan contemporary art sponsored by The French Cultural Center and Ford Fine Art.

The exhibition was a success. Johann Bonilla, our director, did a great job of putting it together. We had planned it a year ago, but considering the state of the Nicaraguan economy after COVID and Hurricane Iota, I assumed it would be postponed. Postpone, however, is not a word THAT Johann understands very well. Despite a university education in the social sciences and a degree in law, he’s a natural intrapreneur. He made the exposition happen without even thinking it couldn’t.

Along with the exhibition, we had a competition with 3 cash prizes. This prompted dozens of entries – and that’s where yours truly came in. As a judge, along with SS, my partner; RH, an art critic friend; JJ, who runs our art biz in Central America; and several others, the task was to narrow the selection to 10, then to 6, and then finally to the winning 3.

It was not easy. So many of the pieces were really good. I’ve long been aware of the high caliber of Central American art. (You may remember the beautiful, illustrated book – Central American Modernism – that Suzanne Snider and I produced recently.) But I was actually shocked by the quality of these entries. They were miles above the sort of derivative and commercial shlock you see in the art shows we have in South Florida.

The pieces were so good, in fact, that I’m buying at least half of them for my collection. They will compete favorably with the modern masters that will hang in the museum I’m planning to open.

It’s interesting to think that here in one of the poorest countries in the Western hemisphere, blighted by political turmoil, the COVID shutdown, and Hurricane Iota, there is this rich source of creative and sophisticated modern art.

Speaking of Johann’s intrapreneurial instincts, today’s essay is about an aspect of that. It’s about moving a growing business from Stage One to Stage Two by creating a culture of speed – one of the most important lessons I ever learned about business.

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The Need for Speed

Some people are analytical. They tend to move slowly, crossing their t’s and dotting their i’s. Others are action-oriented. They tend to move quickly, impatient for solutions.

To grow a successful enterprise of any sort, you need both kinds of people. But in the early stages of growth, the fast movers need to take the lead.

There are good reasons for this that I discuss in some depth in Ready, Fire, Aim, my book on growing entrepreneurial businesses. But they all tie into one of my favorite themes: entropy. The moment you initiate forward progress, just about everything around you clicks into push-back mode. If you don’t press forward to accelerate your forward momentum, entropy will eat you up.

This is an easy concept for action-oriented leaders to understand. But what is sometimes not understood is that it’s never enough to do the pushing yourself. You must create a culture that supports it – a culture of Speed.

I was going to write a follow-up essay on this idea today, but then I saw the following from Craig Ballantyne, the man that took over Early to Rise as partner and editor-in-chief 10 years ago…

I just hosted another epic mastermind a couple weeks back… our best one yet, and attendees seemed to agree…

[There] was ONE common theme that kept emerging…

SPEED.

Whether it’s making a fast judgement call in order to quickly move to the next phase of your project…

Jumping on a market or idea quickly, thereby beating your competition to the punch…

Or just rapidly growing your business to reach your goals in less time…

Speed is so frequently the answer to your problems.

 

Craig then listed 3 “fast hacks,” as he calls them, to help his clients create a culture of speed when their businesses need it…

    1. Make sales your TOP priority 

This is one of the most important lessons from my mentor Mark Ford…

He impressed upon me that sales is the driving force of your business…

 Especially in the early stage.

Therefore…

You should spend 80% of your time driving sales and marketing efforts.

    1. Fail faster 

No matter how you slice it, failure is part of the process…

… another concept Ford addresses in his book Ready, Fire, Aim

(strongly suggested reading material)

And by accelerating failure, we also accelerate success.

However, failing faster alone is not enough.

We must be sure to learn from these mistakes in order to become more efficient over time.

An objective best served by:

    1. A)An attitude that it’s okay to fail.

Not the primary goal. But realizing it’s expected and okay when it happens.

    1. B) A culture of learning and open discussion of failed attempts.

For example…

Failed marketing attempts should be analyzed against successful ones to gain insights for future efforts.

    1. Get out of your head and into the game 

Stop questioning, second guessing, over analyzing, and essentially paralyzing yourself with perfectionism.

There’s a reason you’re where you are today, doing what you’re doing…

Trust yourself.

Stop driving with one foot on the brake and just do what you think is right…

You’ll find your instincts are often right.

And the wins you do get by seizing opportunities immediately will far outweigh the losses.

Plus if you do fail… (refer to #2)

So remember…

 When it comes to progress… SPEED is the answer. 

And through focused attention on seemingly simple ideas like these…

You’ll be able to scale your business in a fraction of the time you’d originally anticipated.

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An email from MF:

Thanksgiving is my favorite holiday. I wanted to THANK YOU for your contribution to this day. You need to be proud of the relief work that Rancho Santana folks are doing for the hurricane relief programs. Everyone is making a difference; that trickles down from your vision.

 

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