I just left a buyer meeting this morning at 7:30. Another broker brought a buyer who I have met before and by his own admittance has looked at over 35 businesses (hint #1). Nice enough gentleman and in course of his introduction to the seller proceeded to give his corporate resume and disgust with small business financials and how “when I was in Corporate America I had to sign statements each quarter (Sarbanes/Oxley) stating my numbers were correct and true.
The purpose of this blog is not to berate the mans experience but as I drove to the office this morning and reflected on this gentleman and his foray into the small business world I could not help but reflect on a scene I saw in the movie “The Last of the Mohicans”. As a former soldier and student of history massacres happen often times because leaders fail to recognize the changes in tactics or terrain. They apply experience in the wrong context and are inflexible and slow to change and react.
4 Lessons from this scene for small business:
1. Know the terrain: Recognize the arena you are in provides advantages and disadvantages. Don’t walk into a valley and not test your flanks to insure you are not walking into a trap.
2. Respect your opponent: Background to this scene is an insult and slight to Magua. Clearly he was more than a little angry with Col. Monroe….needless to say angry competitors can get a little irrational and that never ends well for anyone.
3. The tactics and equipment must be tailored to the terrain. Lining up in battle lines is slow and cumbersome….it may work in the open plains of Europe but not so good in the woods of America. Small business owners who are nimble, creative and strike fast win every time.
4. When in Doubt Do Something: I’m always fascinated when during this scene the one warrior screams and attacks and the entire column does nothing. Where was leadership. The British Army and Leadership of the 18th century succeeded due to intense and brutal discipline. Clearly in this case the troops waited for instructions that never really came in time. Small business owners should make sure they teach their employees how to react to various scenarios and encourage and reward action. Inaction results in poor outcomes