Business owners champion sample chapter

The Business
Owner’s
Champion
6 Winning Practices
to Build Your Nerve
and Your Business

by Brad Farris
A N C H O R A D V I S O R S

The Business Owner’s Champion by Brad Farris

Introduction
I’ve never worked for a publicly held was fired up to go to work every day, not customers and markets. Invent a new
company. The biggest office I ever wanting to let them down and looking service today, sell it tomorrow, and it’s on
worked for had just over 300 people in forward to what I might learn from them the homepage next week!
it. I’ve never worked more than three that day. At my favorite jobs I worked
But, not all founder-led businesses have
layers down in an organization (e.g., hard, not because anyone asked me to,
my boss’ boss’ boss was the BIG boss). this dynamic. Some businesses are
but because it made a difference. These
So, I’ve always been able to see, pretty micromanaged, with no freedom or
businesses were large enough to have
directly, how my work impacted the innovation outside of the founder’s.
structure and process, so that we all knew Others have so much freedom that no
company. what to do each day and how our success one knows which way is up. Maybe the
I’ve worked for a lot of different kinds of would be judged; but they were small founder has the control right, but hasn’t
companies, from a venture-funded start- enough to allow us to make meaningful found the right niche. Or, he doesn’t know
up, to two brothers who ran their contributions and to see the fruits of our how to communicate the value the
business “like a family.” I’ve worked for labor and how our efforts each day helped company provides so the business is
people who were billionaires and worked to make progress. starved for resources and is working hand-
on $100 million deals, but I’ve also worked to-mouth. Others have all the work they
This type of opportunity is more prevalent
for founders who scraped together cash need, but they haven’t priced it right, or
in privately held, founder-led businesses.
from their friends and families and put they can’t manage the clients’
These types of businesses are in the
their inventory on a credit card. These expectations so they always run 100 miles
building stage, creating opportunities for
companies made aerospace parts, an hour and get nowhere.
growth for the company and for those
automotive components, awnings,
intercoms, garage door openers … the list working inside of it. There are no layers of Are these types of business owners aware
goes on. bureaucracy, or rules and red tape that of their shortcomings? Yes, they are
hold smart, creative people back from painfully aware; whether they will admit it
As different as these jobs were, there innovating solutions to problems and outloud is another matter. Of course, a
were similarities. The best jobs I ever had seizing opportunities. You don’t have to good day will push them to think they are
were ones in which I worked with teams fight through turf wars and entrenched superhuman without any faults at all. But
of excellent people. I worked with peers bureaucrats to bring a good idea to life. then there are the not-so-good days,
who were so good at what they did that I There are always new challenges, new when they’re struggling to make

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payroll or dealing with a personnel issue, Here’s what you don’t realize: Running a As you read along, you may find yourself
and they feel like they don’t deserve to successful business doesn’t require an identifying with some of the scenarios I
have their own business. They think, I’m MBA, or a PhD, or even fancy math. It use. You may be reading this as one of
not the smart, successful business owner does require you to be honest with my past clients or as a business owner
everything thinks I am. What if everyone yourself, to get good constructive whom I’ve met once or twice, and
feedback from your customers, your wonder if I am talking about you or your
finds out that … I’m … a … fraud?
team, and some outside people whom business. I assure you that the dynamics
First of all, making a mistake here or you trust, and to commit yourself to I refer to in this book are common to
there, unless it involves breaking the law, making some changes that will feel many smaller, founder-led businesses.
doesn’t make any business owner a fraud. uncomfortable. And most of all, it requires
“If it feels or sounds familiar,
But when all eyes are on you and you the confidence to do all these things.
it’s because your problems are
can’t perform, it’s easy to draw the Confidence and fear are at the opposite common. So if you find yourself
comparison. Further, your team expects ends of the spectrum. How do you go nodding, and looking over your
and wants you to know everything, but from being a fearful business owner to shoulder, rest assured, you are
you can’t know it ALL. So, when they becoming a confident business owner? in good company.”
discover you aren’t omnipotent, it can I’m glad you asked! You’ve come to the
really smart. Believe me, I know. I’m a right place for your answer.
small-business owner.
But what business owners really feel is
fear – fear that they can’t build a business
that they love, filled with a team of people
whom they respect and whom earn them
a fair return on their risk. This fear
debilitates them, causing them to make a
series of other fear-related missteps in
their businesses.

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1. Share

2. Assemble

3. Trust

4. Delegate

5. Manage

6. Enforce

A N C H O R A D V I S O R S Chapters 4 www.anchoradvisors.com


How many late nights did you spend earn your trust or prove they care.
Chapter One
getting your business started? Maybe it They come to work believing they have
was working on a client project or something to offer to you! They should
maybe it was worrying about how you earn your respect through the sacrifices
were going to meet payroll. At first, they made to learn a skill that you can
didn’t meeting a new client, going to a use to serve your clients and make
networking event or selling yourself money. They want to work hard,
completely terrify you? Starting your contribute to building your business and
business and building it to this point serving your clients, AND get recognized
have probably cost you a lot of sleep. for their contributions – even if they
You took risks and years of your life don’t involve the sacrifices you made and
went into making this business the the risks you took.
success it is now.
People who start their own businesses
And then your employees walk in there have to have a healthy-sized ego. You
like they own the place, like it was have to believe you have something
created just for them! They think they valuable to offer to the world and have
deserve comfy chairs, juice in the fridge the courage to offer it, and offer it, and
and dinner at home with their families. offer it, before someone finally pays you!
No one appreciates how hard it was to Running a business does require strength
get here! My people are just walking in of ego, and I don’t want you to give that
here and they haven’t proven anything. up. Nevertheless, ego can get in your
Don’t they know they have to earn this? way when it causes you to trust too
much in your own ideas and decisions,
They do take it all for granted. They
and value your contributions more than
don’t treat your business like the
the contributions of others.
precious thing it is. That’s because it’s a
job to them, not a baby! They don’t
come to work thinking they have to

A N C H O R A D V I S O R S Chapter One - Share 5 www.anchoradvisors.com


Business owners whose egos get in • Do you blame staff members when
their way have a few common traits. things go wrong? Do you take credit
How many of these fit you? when things go well? Do clients think
you did everything on a project, even
• Are you too critical of the talent in
when you didn’t?
your company?
• Has it been more than a month since
• Is there more criticism than praise in
each team member has heard you
your office?
say, “Thank you”? Have they ever
• Do you talk with distain or derision heard you apologize?
about some of your key team
• Is your business named after you, or
members or customers?
does the brand contain your name?
• Do you hire supportive team
• Are people constantly waiting for your
members who are not likely leaders?
approval or edits before they can
• Do you avoid adding team members complete their work?
who have the potential to be better,
• Do you frequently rewrite or rework
or are smarter than you are?
the deliverables that your team
• Do strong team members leave after produces?
a few years?
• Do you have clients that are “your”
• When you talk to clients, do you use clients? Do they ask for you when
the word “I” more than you use the they call, and other team members
word “we”? just can’t seem to make progress
with them?

If you looked at these questions honestly and answered “Yes” to more
than half of them, your ego may be getting in your way.



If you want to build a thriving business contribute; when things go poorly, they So if this is a problem for you,
that goes beyond what you can do, you look at what they could have done here are 6 steps you can take?
need to check that ego. For some better.
business owners, it’s ok the business
It’s important to have strong people
completely relies on them and they are Start small; say thanks.
around you. But, strong people are
essential to every project. But if you
drawn to smart, successful people who Be grateful every day for something
want to do things like take a vacation,
can share the spotlight. As your or someone. I made it a daily habit
go home when you’re sick without
company grows, you don’t always need to write a note to a person who
threatening the business, or focus on
to be in the limelight. In fact, it’s ok if made me grateful that day. Try it.
doing the part of the business you love,
you’re never in the limelight. Now, I When a client compliments your
the truly creative and visionary tasks,
know that you have worked hard and firm’s work, ask him to send a note
you need a team – and you need to get
taken extreme risks to get to the point to your team member, or forward
over yourself.
where you can have the spotlight on the email or VM along to your team
Jim Collins, in his landmark book, Good you. No one – not your clients or your member or even to the whole team
to Great, identified the concept of the team members – know how hard you (with specific thanks to the team

1
Level 5 Leader. The Level 5 leader was have worked or the sacrifices you have members who did the work). Make
most often identified in those made to get here. But the truth is, they sure the team member hears and
companies who made the leap from don’t care! The strongest team experiences gratitude from you and
good to great. These leaders coupled a members will be anxious to learn all they your clients. Don’t wait for your
fierce resolve and drive for excellence can and grow with you; but if they sense team members to be perfect before
with a clear understanding that it was there is never room for them in the you thank and appreciate them.
not about them. In fact, a hallmark of spotlight, they will leave. The team that Even when they are imperfect, they
these leaders is that they drew on the will take you to the next level isn’t going do things that need to be
insights and influences of many minds to to tolerate you looking over their recognized and appreciated.
get the best ideas to drive excellent shoulder all day. They want to have the
outcomes. When things go well, they freedom to send an email without you
look at what others have done to proofreading it (and likely rewriting it!).



Listen to your employees as Try not talking. Don’t go anywhere alone.
well as you listen to your
Go to a client meeting and bring the Once you’ve learned that you don’t
clients. team that worked on the have to talk all the time, take team
If you got this far in business already, deliverable. Now, don’t talk! Let your members wherever you are going –
you must have learned how to listen team do the talking. Of course, to new business pitches, networking
to what your clients need and want. prepare them for what you’re doing. meetings, client debriefs, wherever.
Now, use that skill to hear what your This is going to be tough! You will You want them to see you in action
employees need and want. Many find that they may make some (so that they can learn) and you
business owners will bristle at this: mistakes, and there will be things want to see them in action (so you
you need to train them on, but can learn).

2 3 4
Why do I have to listen to my
employees? They need to listen to ultimately the meeting will go fine.
me! Yes they do, but if you never And if you are really honest, you’ll
listen to them, if you don’t see them admit they did a little better than
as adding value with their own ideas, you would have in some parts. Most
they will not be engaged in your importantly, your client is now
business. They may show up and fill building a rapport and relationship
a chair, but their best work will be with your whole team instead of
going somewhere else. just you.



5
Make two to three times more positive comments than negative ones.
This one is hard. If you are in the habit of being critical, you have to make some radical changes in order to shift the balance. First,
you must compliment – their clothes, their smile or their ability to always turn their work in on time. Now that you have ramped
up the positive comments, skip some of the negative ones. Think before you correct. How serious is this mistake? What is the
consequence? Of course, you can’t let things go out that are wrong. But, if it’s just a matter of style, or if you want to improve it a
little bit, you are showing that you want to put your own mark on everything and to make it yours. Check your ego.
Avoid this if you can.

6
Eliminate the use of “I” from your conversations with clients. It should always be “We.” Always.
Changing the way you talk will change the way you think. After all, the team, hence the “we,” contributed mightily to that client’s
project and its success didn’t they? To say “I” in that case doesn’t just diminish the value that the client got from your team, but it
also undermines your integrity.
Your years of hard work, late nights and risk-taking may never get recognized. But which is more important to you – recognition or
success? The irony is, if you give up looking for that recognition, if you take a backseat role instead of the front seat, you may find
people will be more interested in just how you got to this place – and you may find the recognition and appreciation you have been
missing all these years.

For Further Reading:
Level 5 Leadership: The Triumph of Humility and Fierce Resolve The Death of the Charismatic Leader (And the Birth of an Architect)
by Jim Collins By Jim Collins
from the Harvard Business Review July/Aug 2005 first published in INC magazine October 1997


Like what you’ve read so far in The Business Owner’s Champion:
6 Winning Practices to Build Your Nerve and your Business?
There’s plenty more!

In the chapters that follow, author Brad Farris
addresses the six practices that can help you Some highlights from the
build your confidence, which in turn can help remaining chapters:
you build your business. Confidence is what gets Farris offers empathy …
“What business owners really feel is fear – fear that they
you up in the morning. It’s what makes the can’t build a business that they love, filled with a team of
magic happen in front of a client or prospect. people whom they respect and whom earn them a fair
return on their risk. This fear debilitates them, causing
Confidence gives prospects the confidence to them to make a series of other fear-related missteps in
buy, and it gives your team members the their businesses.”

inspiration to do great work. It attracts people … real-world scenarios …
“No one appreciates how hard it was to get here! My
who will want to help you. It allows you to people are just walking in here and they haven’t proven
focus on success, instead of all the reasons you anything. Don’t they know they have to earn this?”

might find for failure. … some “tough love” …
“Oh, you must be so miserable! You have hired every
incompetent person in the whole industry, and to prove it
How do you develop your confidence as a you let each of them fail catastrophically, and then YOU
business owner? It requires a combination of saved the day by working extra hard. It’s like this is your
sentence, your fate. If I were in your place, I would be
six practices that will lead not only to a crying!”
profitable business, but to an added perk – if … but most of all, direction …
your business is running smoothly, your life “As you move from an individual contributor to a
outside of the business can stand to improve manager and leader, more and more of your time is going
to be spent with people and less and less with tasks. You
as well. will spend your time planning and coordinating work that
others will be completing. That’s called leverage; your
Now it’s your turn to show some confidence, planning and knowledge enables the work of several
others.”
the confidence to keep going on this journey.

Buy the whole book now Buy The Business Owner’s
for just $24.79 Champion now.
With a money-back guarantee,
It will take less than an hour to read, but you’ll there’s nothing to lose –
be reaping the rewards for years to come. but plenty to gain!


About the Author: As principal advisor of Anchor Advisors,
Brad Farris has spent the last 9 plus years
Brad would like to acknowledge the
invaluable assistance of Bridget
working with over 100 businesses and Ingebrigtsen of Write on Command who
business owners to find new levels of edited and rewrote this book. Without
growth and success. Prior to joining her contribution, this work would not
Anchor Advisors, Brad spent over 10 have been possible. The whole team at
years managing business units with sales Anchor Advisors, Ltd. contributed their
of $2 million to $25 million for a privately ideas and encouragement, with
held conglomerate. During that time particular contributions from Stacy
period, Brad built and led teams French Reynolds, Kyra Cavanaugh and
conducting product-development Julie Roth. But it is our clients who
projects, mergers and acquisitions, contributed the most; their stories,
strategic planning processes, as well as struggles and successes all shaped the
quality and efficiency improvements. ideas that appeared here. Thank You.
Brad is married with 5 children and lives
in Chicago, Illinois.
Find Brad on the web at Linkedin or The Business Owner’s Champion
follow him at Twitter.com/blfarris or by Brad Farris
Brad Farris www.facebook.com/anchoradvisors Published by Anchor Advisors, Ltd.
Principal, Anchor Advisors ©2010 Brad Farris

A N C H O R A D V I S O R S About the Author 39 www.anchoradvisors.com


About Anchor Advisors, Ltd.

Anchor Advisors, Ltd is a Chicago based Ways you and your company can connect with
team of advisors dedicated to Anchor Advisors, Ltd
advancing the state-of-the-art in the
leadership of founder-led businesses. * Sign up for our FREE monthly newsletter at
http://www.anchoradvisors.com/pages/sign_up_for_business_wisdom/26.php
Anchor Advisors works with business
founders with 10 to 200 employees who * Become a fan of our FaceBook Page
have seen growth and success in their http://www.facebook.com/AnchorAdvisors
business, but need to develop systems * Follow us on Twitter at http://www.twitter.com/AnchorAdvisors
and processes so that decisions can be
made at a lower level of the * Join one of our roundtable groups either in person or on-line.
organization, freeing the business owner More information at www.anchoradvisors.com/pages/peer_groups/84.php
to monitor the results and apply their * Contact us about a consulting engagement
talents where they are needed most. http://www.anchoradvisors.com/pages/contact/7.php
Developing these systems allows the * Telephone: 773-282-7677
business to grow beyond the business
owner’s personal efforts by creating a
fully-functioning middle-management
layer; often resulting in 30% to 50%
growth. These systems also make the
business less dependent on the owner’s
personal efforts, allowing more freedom
and flexibility for the owner and creating
a high valuation if the owner decides to
sell the business later.

A N C H O R A D V I S O R S About Anchor Advisors 40 www.anchoradvisors.com

A N C H O R A D V I S O R S

Anchor Advisors, Ltd.
5366 N Elston Ave Suite 203
Chicago, IL 60630
Call 773-282-7677
www.anchoradvisors.com

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