A simple and elegant definition of business...

I asked this question to a seasoned businessperson the other day, "How do you define business?"  

His answer wasn't exactly what I had expected.

For him, business is defined as "cashing the cheque" that was given as payment for an activity that had been agreed upon with someone(s). Business in his mind was not defined by what was being done or how, but by the actual transfer of money from one person to another. It was that simple in his mind.

Some clarification was needed on his part because it just didn't sit well with me that there seemed to be little consideration given to what and how something was being done for that "cheque".

It was then pointed out that there was up front consideration to what he would (and wouldn't) do based on legal, moral, ethical or personal reasons, but in theory it could be wide open as to what activities were part of this definition, and that was an individual decision. In his mind it wasn't about what you did that defined business but it was about the transfer of money. We didn't discuss the definition of money but I suspect that if "chickens" were the agreed upon currency, his definition would be satisfied.

Putting aside the opportunity for endless discussions on ethics, morality, legality, good or bad, there is something simple, clean, and direct about his definition. The more I thought about it, the more I began to believe he was spot on, and I did like the elegance of its simplicity. If we agree the goal in business is to make money, then everything else is just activity — If your activity results in a cheque that you can cash then it's business; if it doesn't, then it's just activity (or an expensive hobby). 

In the end the goal of business is to make money, make more money, and make it faster. Underlying this I suppose is all that sales, marketing, finance, operations, human resources, regulatory interpretation, et cetera that goes on each and every day. Cashing that cheque is a reminder to do it better, faster and more innovatively because that's how you stay in business.

Coincidently, a couple of days later I ran into another seasoned businessperson who defined business as "an enterprise or endeavour designed to create value for stake holders, or something like that".

If anything, I was reminded that people look at things differently so you need to stay sharp!

iamgpe

What's with the unicorn?

On more than one occasion I have been asked, "What's with the unicorn, and what does it mean anyway?"

It is true I do have an affinity for this mystical beast; so much so I have a tattoo on my calf and it's the image I use to represent my business. I suppose it's a fair question.

It seems the definition of the unicorn has come a long way and is not just a mystical beast represented by a horse with a single horn in the middle of its forehead; it now includes a startup company that has been valued at more than $1 Billion, a bi-sexual women who is willing to get involved with a heterosexual couple, and something so rare it is considered to be more myth than reality.

The primary reason the unicorn has become part of my lexicon is because I am half Scottish and the Scottish Unicorn represents a heritage that a person can be proud of. The other half, if you happen to be wondering, is Welsh. And yes, I also have a Welsh Dragon tattoo. Another reason is simply for branding purposes because in my mind the image of the unicorn is impactful, memorable, and identifies with strength, power, integrity and mystical properties (the good type). The last reason, and maybe really the only true reason, is the unicorn is a reminder to believe.

• "Believe in yourself"
• "Believe in what you are doing"
• "Believe in your ability to do something when everyone says it can't be done"
• "Believe in your dreams"
• "Believe in your idea"
• "Believe in the impossible"

Once in a while someone I know likes to say she is out chasing unicorns. And you know something, it's surprising how many she catches.

iamgpe

The Golden Age... a result of this very moment.

"It never used to be like this", he said.

He then went on to say how he could remember what it used to be like and how it was much better... as well as other self aggrandizing perspectives of an age gone by. To be honest I started to tune him out (which I recognize was rude but I quickly got over it), and then I was reminded of a conversation that took place a number of years ago.

We were into the second year of a large and complicated merger that brought big step changes to the new organization... people, leadership, product offering and go to market strategy to name a few; the growing pains were challenging but we were heading in the right direction. I was talking to a senior leader who was lamenting that everyone was wrestling with the changes, the perceived problems, and how many were suggesting that everything before the merger was wonderful.

"Way back when, everything was great."

To that I said, "Everyone wants to think of it as the Golden Age when everything was perfect. Although, I can remember when there were really bad manufacturing problems, back orders, poorly launched products, and pricing that made it difficult to capture share." I went on to add, "People seem to conveniently forget the bad things and just want to remember the best of times"

To that he said, "I know"

We didn't fault anyone in our observation; it was more a commentary on the human condition and how it is just a byproduct of people managing though change. As I look back on the conversation and the situation (with fond memories I might add), I find myself considering something that had never occurred to me before. If by definition a Golden Age is a nicely edited retrospective of a time that offered peace, prosperity, happiness and where everything you did was at it's pinnacle, isn't is fair to say that creating a Golden Age is just an issue of time. 

I mean, given enough time, isn't this very moment part of some Golden Age yet to be defined? 

I should point out that "this very moment" I speak of only applies to a moment that is new or different, and not just an iteration of some bygone golden age moment; they need to be moments moving forward, not backwards. Moments building on moments; all colliding into one another until one day you find yourself looking back fondly.

The question that needs to be asked is, "Have you started building your new Golden Age?"

iamgpe