Business

Entrepreneurship is a Roller Coaster. Here’s How You Can Leverage It For Better Outcomes

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If you own a business, you’ve probably compared running your company to being on a roller coaster.

You may not know — or readily admit — that it actually has more to do with you than it does with the business.

That’s because most entrepreneurs exhibit at least some traits of bipolar disorder: they are prone to seductive highs, crushing lows and everything in between.

I experienced it while growing 1-800-GOT-JUNK from $2 million to $106 million in revenue over six years and in the years since I left.

Many entrepreneurs — two of the co-founders of Netscape, for example — have been medically diagnosed with the condition.

We call it a disorder — some even say it’s the CEO disease — but that’s not how we have to view it. In fact, based on my experience, I know that these patterns of behavior can be leveraged as a superpower.

The mania, the excitement, the high energy — that’s why people follow you and support your big ideas. The stress and depression that follow are there to help you correct the course, muscle through the difficult things and meet crazy goals. Those lows are usually a signal to rest and recharge (so that we can summon the energy to build and inspire again).

If you learn to recognize your emotional highs and lows, you can harness them so that you know where to put your focus and when.

Think about a world-class athlete operating at peak performance. We do not expect them to function at that level for weeks or months on end without a break. We totally get that they need time off to maintain that level of performance. Why don’t we apply the same standard to entrepreneurs? 

We should.

To do that, you have to understand the Transition Curve. No surprises here — it resembles a roller coaster. There are four distinct stages that I detailed in an interview on Jordan Harbinger’s podcast.

I’m going to outline them here so that you can know how to anticipate the emotional intricacies of entrepreneurship and use them to fuel your success.

Stage 1 — Uninformed Optimism 

The first stage of the entrepreneurial transition curve is characterized by excitement and passion. It can last anywhere from a week to a full year.

Back to the roller coaster. Think of the feeling when you’re heading up the steep slope before the drop — you’re pretty damn excited just before you hit the top. You might not know exactly what’s coming next, but you can’t wait to experience it. That’s uninformed optimism in a nutshell. It’s the thrill of landing a massive new client even though you’re not exactly sure the business can accommodate it.

You’re manic and exuberant. It’s a great time to talk to investors, do recruiting and focus on marketing. Use your voice to capitalize on the optimism and excitement. You’re at your most magnetic and people will want to join you.

But you’ll definitely want to avoid stuff like purchasing decisions, hiring and bookkeeping. This isn’t a season for major decision making.

Stage 2 — Informed Pessimism 

This is when you’re over the top of the curve and you’re having an “oh shit” realization. You get more information and the optimism goes right out the window. The reality of what’s ahead comes into full view, and you’re wondering how you’re actually going to pull it off. You start seeing what might go wrong or you start noticing stuff that you hadn’t clearly anticipated. This stage moves you toward careful action.

For example, you’ve hired an amazing new VP. The “oh shit” moment comes when you start thinking about the salary you offered and now you’re wondering how you’re going to pay him $20k per month.

Here’s a major “oh shit” moment from my own life: I got a tax bill for $420,000 more than I thought I owed. Not fun. I realized there was all this revenue that I hadn’t fully thought through. I started to freak out and panic.

But then I moved into planning mode. I went on a hike with a few entrepreneur friends who helped me figure out what to do next. I went home and made a list of all the expenses that could be cut and the options for increasing revenue and gross margin. There were about 80 things that I had to do. Within three months, they were done and I’d paid my bill.

Stage 3 — Crisis of Meaning

Crisis of meaning is when you’re completely panicked and unable to do anything. You feel paralyzed. It’s scary.

I remember a time when my good friend Brian Scudamore, founder of 1-800-GOT-JUNK, was in this stage. It was almost 20 years ago. The company was still relatively small at the time. One morning, he called me and told me he wasn’t coming in. He wanted me to assure the leadership team that he was fine and that he’d just be out for the day, but the fact is he was on lying on the floor in the dark in his basement. He needed to detach.

That’s a crisis of meaning.

Stage 4 — Crash and Burn

This is a very low point, where you’ve plunged off the curve. Not everyone gets here. Hopefully, you don’t, but it can happen.

At this stage, you’re either filing for bankruptcy or forced out of your leadership role. It’s game over for now.

Stage 5 — Informed Optimism/Hopeful Realization

This final stage is when you start to feel energized and excited again. You’re sort of like The Little Engine That Could. You’re getting your confidence back.

The danger lies in becoming too optimistic too quickly. You’re about to start the Transition Curve again. But if you don’t recognize that and realize that the pessimism and crisis of meaning are going to creep in as well, you risk unconsciously sprinting towards a major crash and burn.

The key to understanding the Transition Curve is to realize it’s like gravity. You can’t fight it. Go with it and use it to your advantage. It’s your superpower.

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Everything I Know About Recruiting I Learned Duck Hunting

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Duck Hunting for Employees

My grandfather Cam Shortts was a great businessman, but he was an even better hunter.

He owned a successful hunting and fishing lodge in northern Ontario, an amazing place where I spent many, many days in my youth. It was a lodge that was frequented by corporate big wigs – CEOs, CFOs and COOs holed up there on their vacations.

And it was “up north” nestled on the shore of a shimmering lake with that great man that I learned everything I needed to know about recruiting.

No, Gramps wouldn’t drag out his old business school texts to the duck blind. Instead, his methodical, precise approach to hunting taught me valuable lessons I’ve carried with me ever since.

Grandpa knew exactly what kind of ducks he wanted before he set out to hunt—mallards, blue-winged teals, and wood ducks. But more importantly, he knew what kinds of ducks he didn’t want. Namely, fish ducks who are renowned for tasting downright terrible.

It’s an approach many business people don’t take when “hunting” for candidates. Sometimes, hiring the right Chief Operating Officer, marketing executive, sales personnel or even a CEO for that matter, is about NOT choosing someone who will be bad for the company. Businesses focus so much on what they want, they don’t consider what they don’t want. Before the hiring process begins, you should absolutely list all the traits you would love to have in the ideal applicant—e.g., years of marketing experience, ability to travel, an MBA, with exemplary prior experience as a Chief Operations Officer, etc.

But then, think about the traits you absolutely don’t want. Your list might have things like avoiding candidates who appear to jump from job to job far too often, or who have worked for a company you don’t respect, or even candidates who smoke. I know of a CEO who gave the keynote speech at a COO training seminar just because he wanted to scout a COO he could make his 2nd in command. And believe it or not, he wrote off most of the COO candidates for being late to the training seminar because they were brushing off training as a unimportant experience!

Grandpa was so focused on getting the ducks he wanted, there were many times we’d go home without having fired a single shot (not an easy task for a 14-year-old who really liked to shoot!) He always said he’d rather leave without a single duck then leave with a bad one.

This lesson rang true when I was involved in hiring for a key senior position. I won’t name the company, but I will say is that we were on the lookout for a fearless Chief Operating Officer who could transition a company through difficult times. A director and I traveled to Boston and whittled 150 resumes down to 16 candidates. After multiple interviews with each of them, both my colleague and I couldn’t pinpoint one that blew us away. And despite the pressure to hire for the role, both of our guts said “no” so we flew home empty-handed.

Knowing what kind of ducks he wanted was one thing, but Grandpa’s ability to pick them out when most everyone else couldn’t even see any ducks in the sky was amazing. It’s a skill he honed over years of hunting (he did own a hunting lodge after all) and it’s a skill I’ve picked up after hiring hundreds of people in my career. CEOs, Chief Operations Officers, CFOs, you name it, and I have hired them.

Nearly anyone can gloss over their weaknesses with a fancy resume or well-crafted cover letter. But once you get that candidate into an interview, it’s easy to see right through their bluster and unearth the real candidate (for better or worse).

Huddled in our blind, waiting patiently for the birds we wanted—those are the memories I will always have of my Grandpa. These are also the lessons that have helped me recruit awesome employees throughout my career.

Happy hunting!

Learn more about how high growth can be yours on Cameron Herold contact page or email rachyl@cameronherold.com

Hall of Fame

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Hall of Fame

When I mentor young entrepreneurs, I endeavor to give them a war chest of skills that will help them long into the future. One tool that I ensure each of them has is a Vivid Vision. I’ve talked about these invaluable documents a lot in other blog posts. They are one of my hallmarks. Your own hall of fame so to speak.

And why am I such an advocate? Because time after time, I’ve seen them work.

Over the years, I’ve worked at creating a Vivid Vision with dozens of organizations, from small boutique firms to $100 million enterprises. In this post, I thought I’d share a little detail about what some of these companies did to their Vivid Visions that really made them pop.

Red Balloon Days, an online retailer that sells exceptional experiences to Australia and New Zealand, had a graphic designer give their Vivid Vision the royal treatment. Bright colors, cool fonts, funky images—the document grabbed the reader’s eyeballs and refused to let go.

So often, companies fear injecting life into their documents or presentations lest they appear ‘unprofessional’ or ’amateur’. Sure, there are times for somber, professional presentations, but I strongly support adding flair when the opportunity presents itself. I stop short of cheesy cartoons or using Comic Sans font, but believe that bright, colorful annual reports, proposals and Vivid Visions are far more effective (and more fun to read).

Nurse Next Door went multimedia with their Vivid Vision. This provider of in-home health services for the elderly of the US and Canada combined the written aspect of their document with a voiceover recorded by its cofounder.

I loved how the visuals really brought their vision to life. It’s one thing to talk about TIME Magazine profiling your company in your Vivid Vision, but it’s another altogether to have a mocked up magazine cover graphically displaying it.

The company was pretty happy with it. So much so, they put it up on YouTube where nearly 2,000 people have viewed it.

What do you do when you are a global organization with offices in 25 countries and you want to introduce the concept of a Painted Picture to all of your employees? If you’re Sebastien Tondeur, the CEO of MCI (a global event management firm), you film a slick, professional introduction that explains exactly what a Vivid Vision is, and how it relates to the company’s future.

His charisma is obvious, and his introduction gets his employees excited about their role in making the Vivid Vision come to life.

I could go on and on, but what’s important to remember is that any Vivid Vision is exceptional. You don’t need flashy graphics or CGI visuals , you just need to take the time and effort it takes to visualize your company’s future. Who knows, you might end up in my Hall of Fame.

Click here to get more inspiration on your own Vivid Vision.

Recession Tip: Get Noticed

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The brilliant ad in a Jakarta shopping mall makes people look really creepy as fleas on a dog.

While everyone is complaining and worrying about the economy, get out there by marketing and advertising.  Find fun ways to get noticed for free.  It drives me nuts when brands or people think they are ‘too professional’ to do guerrilla marketing, when some of the biggest and fastest-growing brands on the planet are already doing it.

Grasshopper, a company just outside of Boston, Massachusetts, made a huge splash in the spring of 2009 when they sent real chocolate-covered grasshoppers to 5000 tech geeks and entrepreneurs.  Included in the package of grasshoppers was a URL for an inspirational video that eventually went viral from all of the attention it received. They were featured in tons of media outlets, and generated a lot of buzz and sales.

If you’re going to do guerrilla marketing, don’t play it safe!

pic Megawatt PR

Recession Tip: Give Everyone A Raise

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Make raises one hundred percent commission based, but give everyone a stake in finding new business. Even accounting and IT teams can find clients, so create an upside for them, too.  When everyone in your company has a stake in the outcome and can make more money by bringing in clients or employees, they will work to help you build your business.

Also, teach your employees how to network.  Give them marketing pieces with a promo code customizable to that employee.  Help them make more money and you will too.

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Meetings Suck: Turning One Of The Most Loathed Elements Of Business Into One Of The Most Valuable

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We all know that meetings suck, right?

You hear it all the time. It’s the one thing that almost everyone in business can agree on.

Except it’s not actually true… 

Meetings don’t suck.

We just suck at running meetings.   

When done right, meetings not only work, they make people and companies better.

In Meetings Suck, world renowned business expert and growth guru Cameron Herold teaches you how to use focused, time effective meetings to help you and your company soar.

This book shows you immediately actionable, step-by-step systems that ensure that you and everyone in your organization improves your meetings, right away.

In the process, you’ll turn meetings that suck into meetings that work. 

In life, we always hear about people who’ve made huge decisions from their gut – without data.Today, I want you to make a decision, not only from your gut, but also from some data.  A decision that is only $12 per employee but will be priceless for your business.

Right now, your gut is telling you something is wrong with your company’s meetings.  You KNOW everyone complains about meetings.

People HATE going to them, they HATE running them, and they really have NO idea which meetings are truly necessary but they hold meetings simply because they think that is what they SHOULD do.

Even some of the smartest CEOs in the world complain about meetings – Elon Musk publicly told employees at Tesla & SpaceX to walk out of meetings if they weren’t being run properly.

I sent Elon a message saying that wasn’t going to fix anything – the key is to fix the root of the problem – NOT continue to ignore why meetings suck.

A Meeting is – Any phone call, video call or occasion where 2 or more people meet to discuss or work-through office topics.

Most employees on average spend 1-2 hours per day in meetings.

And likely, none of those employees – front-line staff or leaders – have had any training on how to attend meetings or participate in them, LET ALONE How to RUN THEM.

Consider this…

If the Average employee spends just 1 Hour per day in meetings – that’s 1/8th of their time.

If the Average employee earns $50,000 per year.

And they’re spending 1/8th of their time in meetings, that means you’re paying $6,250 dollars per year for just ONE employee to attend meetings.

The reality is, employees spend 1/8th of their time – and 1/8th of your company’s payroll – doing something they have literally NO idea how to do.

The Reality is…

95% of employees are booking & leading meetings – and they have NEVER been trained on how to run them.

95% of employees have had NO training on how to show up and participate in the meetings they attend daily.

And 95% of employees and companies have no idea what meetings are even necessary to hold.

Meetings CAN be hugely effective – IF you know how to run them

Meetings don’t SUCK, we just SUCK at running meetings. 

Investing $15 per employee – to help ensure the $50,000 a year you spend on them is an obvious and easy choice.

This could be the most impactful $15 you’ll ever spend and will save the company’s money, time and resources instantly.

Buying a copy of Meetings Suck for 100% of your employees and having them read it this month will have a huge impact on your company’s success.

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Free PR: How To Get Chased By The Press Without Hiring A PR Firm

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Public relations has always been an essential part of doing business which is probably why you’re shelling out big money to an outside PR firm. But the truth is that you don’t need them. You already have all the necessary tools in-house to do as good a job as the so-called experts. 

Cameron Herold and Adrian Salamunovic have taught thousands of company execs how to exploit free media coverage and ditch these expensive, often ineffective outsiders. 

Cameron & Adrian have also built in-house PR teams, spent decades learning how to generate Free PR and how to leverage public relations to complement their sales and marketing strategy. 

In Free PR, you’ll learn how the media world operates while you gain invaluable insider knowledge and actionable advice on how to: 

  • Build your own in-house PR team
  • Provide effective interviews
  • Score great media coverage for free with just a few easy steps 

Landing public relations coverage for yourself and your company is a powerful tool to help elevate your personal brand. PR is easier to generate than marketing, PR is easier to leverage than marketing and PR is more cost effective than marketing. In other words, Public Relations is more critical than ever in growing your brand and your business. 

You’ve got more passion, commitment, a larger stake, and a deeper understanding of your business than any outside PR firm could ever have. So stop wasting money and take the reins yourself.  Learn the secrets to landing TONS of Free PR for your company.

What they’re saying:

“I think PR is the core for promoting any business. Public relations acquires customers! That’s what’s cool about this book.”

– Kevin O’Leary,  Shark on ABC’s Shark Tank

“The ultimate guidebook for those looking to get press, grow their brand, and get in front of the masses. Free PR is the roadmap you’ve been looking for.”

– Peter Shankman, Founder, Help a Reporter Out (HARO)

“Adrian and Cameron will show you the secrets of getting massive exposure for your business. This book is packed with actionable insights from two guys that actually know how to to do it.”

– Dan Martell,  Serial Entrepreneur & Investor (Intercom.io, Unbounce)

“I told Cameron to write the book on generating free PR. I’m excited to see that he’s finally sharing his secrets with the world. This is a must read for any entrepreneurial company and marketing team.”

– Verne Harnish, Founder of Entrepreneurs’ Organization (EO) and author of Scaling Up (Rockefeller Habits 2.0)

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Vivid Vision: A Remarkable Tool For Aligning Your Business Around a Shared Vision of the Future

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Many corporations have slick, flashy mission statements that ultimately do little to motivate employees and less to impress customers, investors, and partners. 

But there is a way to share your excitement for the future of your company in a clear, compelling, and powerful way and entrepreneur and business growth expert Cameron Herold can show you how. 

Vivid Vision is a revolutionary tool that will help owners, CEOs, and senior managers create inspirational, detailed, and actionable three-year mission statements for their companies. In this easy-to-follow guide, Herold walks organization leaders through the simple steps to creating their own Vivid Vision, from brainstorming to sharing the ideas to using the document to drive progress in the years to come. 

By focusing on mapping out how you see your company looking and feeling in every category of business, without getting bogged down by data and numbers or how it will happen, Vivid Vision creates a holistic road map to success that will get all of your teammates passionate about the big picture. 

Your company is your dream, one that you want to share with your staff, clients, and stakeholders. Vivid Vision is the tool you need to make that dream a reality.

miracle-morning

The Miracle Morning for
Entrepreneurs: Elevate Your SELF to
Elevate Your BUSINESS

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READY FOR EXPLOSIVE GROWTH AS AN ENTREPRENEUR AND ACCELERATED SUCCESS IN THE REST OF YOUR LIFE?

A step-by-step guide to enjoying the roller-coaster ride of growth — while getting the most out of life as an entrepreneur. A growth-focused approach: The book is divided into three sections, which cover planning for fast growth, building a company for fast growth, and leading for fast growth. Each topic the author covers — from creating a vision for the company’s future to learning how to generate free PR for a developing company — is squarely focused on the end goal: doubling the size of the entrepreneur’s company in three years or less. A down-to-earth action plan: Herold’s experienced-based advice never gets bogged down in generalities or theory. Instead, he offers a wealth of practical tips, including: How to design meetings for maximum efficiency; How to hire top-quality talent; How to grow in particularly tough markets; How to put together a board of advisors — even for a smaller company; How even the busy entrepreneur can achieve a work/life balance.

READY FOR EXPLOSIVE GROWTH AS AN ENTREPRENEUR AND ACCELERATED SUCCESS IN THE REST OF YOUR LIFE?

Hal Elrod’sThe Miracle Morning has helped redefine the mornings and the lives of millions of readers since 2012. Since then, careers have been launched, goals have been met, and dreams have been realized, all through the power of the Miracle Morning’s six Life S.A.V.E.R.S.

THESE SIX DAILY PRACTICES WILL FUEL YOUR EFFORTS TO CREATE AND SUSTAIN POSITIVE CHANGE IN YOUR LIFE.

Now The Miracle Morning for Entrepreneurs brings you these principles in a whole new light—alongside the Entrepreneurial Elevation Principles and the Entrepreneur’s Elevation Skills. These are essential skills that you need to create a successful business and personal life. Cameron Herold— Bestselling Author and a widely-respected expert on entrepreneurial mindset—brings his wisdom and insight to you using Hal Elrod’s powerful Miracle Morning framework.

DEVELOP A VISION FOR YOUR BUSINESS, AND BECOME THE INFLUENTIAL AND INSPIRING LEADER YOU WERE ALWAYS MEANT TO BE.

The principles and skills you’ll find in this book will help you to channel your passion and achieve balance in a remarkable new way. – Learn why mornings matter more than you think – Learn how to master your own self-leadership and accelerate your personal development – Learn how to manage your energy—physical, mental, and emotional – Learn how to implement Hal Elrod’s invaluable Life S.A.V.E.R.S. in your daily routine – And much more… You’re already an entrepreneur. Now discover how to take your success to the next level by first taking yourself to the next level. The Miracle Morning for Entrepreneurs is your roadmap to masterfully building an empire with a powerful vision, utilizing your areas of personal genius, with the right team at your side.

Start giving your business and your life the very best opportunities for success, right now.

double-double

Double Double: How To Double Your Revenue And Profit In 3 Years Or Less​

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A step-by-step guide to enjoying the roller-coaster ride of growth — while getting the most out of life as an entrepreneur. A growth-focused approach: The book is divided into three sections, which cover planning for fast growth, building a company for fast growth, and leading for fast growth. Each topic the author covers — from creating a vision for the company’s future to learning how to generate free PR for a developing company — is squarely focused on the end goal: doubling the size of the entrepreneur’s company in three years or less. A down-to-earth action plan: Herold’s experienced-based advice never gets bogged down in generalities or theory. Instead, he offers a wealth of practical tips, including: How to design meetings for maximum efficiency; How to hire top-quality talent; How to grow in particularly tough markets; How to put together a board of advisors — even for a smaller company; How even the busy entrepreneur can achieve a work/life balance.