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Catching a Feather

 

When we were kids, my brother and I had the mother of all pillow fights. It ended with a shriek of glee when David swatted me squarely on the top of my head. His pillow burst, liberating thousands of feathers. For weeks afterward gypsy bits of white fluff roamed through our house, rising from dresser drawers, drifting out of folded clothes, and even, to my surprise, peeking out from the corner of a small red carton of cloves in the kitchen pantry.

But each time I tried to trap one of these feathers with my hand it fluffed away. At first I was amused, but soon I became frustrated. In those days I lived by the rule, “go for it,” which simply didn’t work in this case.

You have to wait for the fish to bite, and I quickly learned that to catch a feather I had to be patient, reach out, and simply wait for it to land, or not, on my outstretched palm.

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The softest things in the world overcome the hardest things in the world. Non-being penetrates that in which there is no space. Through this I know the advantage of taking no action.

—Lao-Tzu, The Way of Lao-Tzu

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Recently my business partner, Aaron, cornered me in my office. “Alan, I have a problem. My son, your godson, Byron, and I had an argument about the rules in our house, and he won’t talk to me.”

Aaron’s quarrel was about Byron and his girlfriend sleeping in Byron’s bedroom overnight, with Aaron’s seven-year-old stepdaughter in the house.

“Alan, I don’t want to lose my son. But I won’t change the rules in my own house. What can I do?”

I recalled the day many years before when my own teenage son had decided to live with his mother, rather than accept one of my household rules. Eventually I had apologized, not so much for the rule but for my harsh way of imposing it, and we reconciled. In my mind I saw a feather gradually floating into my hand.

“Don’t chase him,” I said to Aaron.

“Don’t chase him?”

“Just extend your hand to him and wait for him to respond.”

“I have been waiting. For a week. And it hurts.”

“Waiting can be the hardest thing in the world, especially for people like you and me who are used to going after what we want. Children have to stake out their own territory.”

Aaron shook his head, looking sad. “I don’t like it, but you may be right.”

For several weeks, Aaron left welcoming messages on Byron’s telephone answering machine and waited. Byron finally returned his calls, and, after more than a month, father and son agreed to share dinner at a Chinese restaurant. They opened up a dialogue that continued intermittently over the next few months.

Then last Friday, Aaron raced into my office, beaming, “The feather has landed!” Aaron paused for dramatic effect.

“Yes?”

“Tonight he’s coming to the house for dinner, for the first time since Christmas!”

I hadn’t seen Aaron grin so broadly since he announced his engagement to his wife several years before (but that’s a feather off a different bird).

To catch a feather you have to wait. You can’t speed up the natural process of floating, and the very attempt will push away the object of your desire. 

You can only be available, as you might be to a newborn infant. You can open your heart and turn your palm upward toward the sky. You can wait and watch with yearning and generosity.

When the feather alights you can give thanks for a precious gift.

And you might also realize that, from time to time, you are the feather yourself.

– Alan

 

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Who’s Afraid of the Big Bad Boss? Nine Tips

 

Bosses are inherently intimidating, even though most of them aren’t actually big, or bad.  Still, they are “the boss” and they have a great deal of control over your life, which can make them scary.

I met my first boss when I was eighteen. He seemed nice enough, but did expect a day’s work for a day’s pay.  I had a summer job as a stock boy in a warehouse, unpacking, stocking shelves, and filling orders.

About a month into the job, my family was leaving for an extended weekend vacation. Being so new I was afraid to ask my boss for time off, so on Friday afternoon I slipped out of the warehouse at 3:00 pm, two hours before quitting time.

Luckily, when I returned to work on Monday morning my boss was much kinder than I expected (or deserved). He did point out that “disappearing without notice” was not acceptable, but he later promoted me to running the billing machine when the regular operator left for vacation.

At age 27 I started my own law firm and have been “the boss” ever since.  But I still remember my initial fear about talking to the boss. If you share that fear I encourage you, for the sake of both your career and your company, to talk to your boss, especially if you’ve made a mistake.

As the boss I live in a bubble and seldom talk to any of our 3,000 tenants, our hundreds of suppliers, and even our seven hundred investors. So I need to receive important information and suggestions from my employees.

Several months ago, for example, two of my valued employees entered my office looking like death warmed over.  They had made a $137,000.00 mistake. I’m glad they found the courage to see me at once, because their mistake was growing by $4,000 per day, and we solved it the same afternoon.

If you find yourself in the difficult situation of having to break some bad news to your “big bad boss” here are some tips to make the experience less scary and more effective:

1.    Make a specific appointment for a five or ten minute meeting.  If I’m interested, it will be longer.

2.    Make the appointment for early in the day.  By 3:00 pm I’m tired and more likely to say “NO.”

3.    Tell me in advance what you want to talk about.  Make it as positive as you can.

4.    Suggest solutions.  By 9:00 am I have already heard about enough problems.

5.    Bring a one-page summary with you.  I can read faster than I can listen.  One week later I can read better than I can remember what you said.

6.    Thank me for my time.  We all like to be appreciated.

7.    You might practice your presentation in advance.  This will help you to be succinct.

8.    Be authentic.  People try to sell me something every day, and if I sense they are faking it I will cut them off without a second thought.  Or a second opportunity to see me.  When you are real we will connect.

9.    Remember that you are doing me a favor.  You are helping me to do my job better, and I want both you and our company to thrive.

My philosophy is that we’re all in this together.  As a boss, it’s my job to encourage my employees, to pay them fairly, and to steer clear of disasters.  It’s also my job to appreciate their candor, their courage, and their concern.

Alan

 

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Executing Your Investment Babies

 

I like investments because they work for me while I sleep.  They also work for me while I vacation on a beach in Hawaii.

The difficulty, of course, is finding a profitable investment.

Basically you invest in either a company or a person.  Either way, an investment should have three key attributes:

  1. An innovative idea.
  2. A ripe market.
  3. Great execution.

IDEA

While a good idea is important, the idea alone is not enough to guarantee a profitable return.

I used to invest in projects based solely on the idea.  I spent almost $1,000,000 producing a movie in the early 80’s.  The idea was . . . well, the title was Party Animal.  If you’re male and under 20 you might enjoy it.  I didn’t care for the execution of the idea, and lost a lot of money.

I invested more than $1,000,000 in a product called “Smart Pill.”  This is a capsule which is swallowed then progresses through the gut to diagnose certain intestinal conditions.  A great idea.  Unfortunately the CEO was inexperienced in financing, and I was left with a substantial income tax deduction when my entire investment disappeared.

A good idea alone is not enough.

MARKET

When you evaluate any investment, make sure there’s a strong market (present and future) for the product or service.

I have read that when the telephone was invented a prototype was presented to the mayor of Chicago.

“This is a wonderful invention,” he said.  “I can foresee the day when every city will have one.”

You might remember that years ago FedEx initiated an amazing service.  You could bring a document to your local FedEx office.  They would fax your document from that office to their office near the recipient, and then deliver the faxed document.  Wow!  But that service lasted less than one year.  Their cost-conscious clients soon bought their own fax machines (remember that slick paper?) and faxed directly to each other.  The market for the FedEx innovation vanished.

EXECUTION

I have been asked over the years to help other entrepreneurs get started.  I like to do this.  I have revealed my forms and operating procedures to potential competitors.

I am happy to share this information because I realize that the idea itself, while important, is not the primary driver behind success.  The operating procedures that I and my staff have worked out over the years are also important.  But the procedure, “Collect all rents strictly on time and collect a late fee if the rent is paid after the grace period expires” is just a guide.

In real estate the three most important factors are “location, location, and location.”  In business the three most important factors are “execution, execution, and execution.”

On the internet you can easily find all of the lyrics to the song, “Over the Rainbow.”  But have you ever heard that song sung off-key and with a scratchy voice?  Perhaps it should be sung by Judy Garland.

The first successful computer spreadsheet was VisiCalc, introduced in 1979.  I’ll bet you don’t even know what computer first used it.  And VisiCalc has been completely overtaken by competitors.  It isn’t around today. 

Let’s abandon our fantasies about investing in the next great idea, or the next great market, and focus on all three factors – idea, market, and execution, both at the office and at home. Your investments should prosper, and so should you.

Alan

P.S.  I love food.  My wife doesn’t like to shop for groceries or cook.  She says, “That’s what restaurants are for.”  Who am I to argue with her?

 

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