They say that the most important skill that you can have in your [business] life is to be able to SELL.

And, why shouldn’t it?

– You want to buy a house? You need to shmooze the bank manager … SELL him on why he should give you the loan.

– You want to get married? You’d better woo the spouse-to-be and their parents … SELL them on letting you join their family.

– You want to get a job? You should brush up on your interview skills … SELL them on why you should get the job over all the others applying.

– You want a pay-rise? You had better impress the boss … SELL her on why you – above all others – deserve the promotion.

– You want your start-up to break-even, the maybe make a few bucks profit … who else is going to do the SELLING for you??!!

Unfortunately, I’m actually a terrible salesman, and am very uncomfortable in a one-on-one ‘convince the other guy to give me what I want’ situation.

Luckily, I actually think that the ability to sell is only the second most important [business] skill …

… the first – most important – one came back to me when I attended my daughter’s Speech Night tonight.

In case you’ve never been to one of those, it’s when a bunch of kids each select a random topic and write – then present to their classmates and parents – a 3 minute speech.

Now, I remember the first time that I spoke in public: it was while I was still at college and I was asked to be Best Man at my friend’s wedding; well, all I remember was:

a) I was so nervous that my knees were literally wobbling as I spoke, and

b) I had no idea what to say … I only remember that it was ridiculously schmaltzy like some cheap, drug-store gift card.

I also remember my first ‘real’ work-related speech: it was at a training course for selling, sponsored by the company that hired me straight out of college. I remember that my speech, my delivery, and my materials (overhead transparencies, hand-drawn/colored like some some 5th grader!) were terrible, and my instructors were more than happy to let me know 🙂

The turning point came when – at a later course, after I learned at least SOME presentation skills – I was video-taped giving a practice talk, and (naturally) felt very uncomfortable and unconfident … but, I soldiered on as best I could, resigned to be as embarrassed as usual when I saw the tape.

However, when I was finally shown the tape, the person I saw on the screen was somebody else entirely: he looked relaxed and confident … I couldn’t even see his leg shaking 😛

From that moment on, my career as a ‘public speaker’ was launched!

Realizing that it didn’t matter how I felt that counted, but how my audience perceived me, I rapidly went from strength to strength, actively seeking opportunities to stand up in front of a whiteboard, write-on-wipe-off felt-tip marker in hand.

This, more than any other single skill, accounts for my success in business, investing and Life:

– If I wanted to fund my businesses and investments, I presented my financial plans to my bank manager and his team, careful to fully explain the opportunity and address all of their potential concerns; the presentation format allowed me to be proactive, yet still leave room for additional questions. This allowed me to secure millions of dollars in funding, even when I had absolutely NO assets behind me!

– When I wanted to get married, my real job began at the first family dinner as I carefully presented myself in the best possible light with (sparingly applied!) carefully chosen anecdotes.

– When I wanted a promotion or pay-rise, I made sure that I had a an opportunity to have my boss see me doing something that most people (including him!) are afraid to do: being relaxed, confident, informative, and entertaining in front of an audience. This made me one of the most successful ‘experts’ in my field, within only a couple of years of taking up that particular specialty.

– When I wanted large companies to buy what my company had to sell (and, later, to buy my company), I always came up with a crackerjack presentation that addressed all of their buying considerations (which I had been careful to assess in prior “ask polite questions and listen to what they have to say” meetings); being the only person standing up really allowed me to control the flow of the meeting and helped me to sign multi-million dollar contracts all over the world.

In other words, I let the presentation do the selling, which really took the pressure off me having to perform as a Salesman …

… and, it became clear to me: everybody respects the person standing on the stage.

As for my daughter: she did an awesome, confident speech … as did many of her classmates.

In my opinion, if they keep it up, they will have a flying start in their later business life … and, so will you, if you take the time to learn – and, practice – speaking to an audience.

Yesterday, I told you (yet again) about this book … the book that others claim to be “the most important business book” that they’ve ever read.

Well, I claim it to be so, too!

Let me revisit one of the key tenets of this book – indeed, a phrase that has been often (mis)used by all and sundry:

Work on your business, not in your business!

Why misused?

Because I think that most people use it, but don’t really understand what it means to really work on your business, rather than in it …

… to understand what this truly means, let me give you a personal example:

When I started my second business (the first having being ‘handed to me’ in a rather crumpled heap … but, that’s another story), I was not at all qualified to do the ‘work’ of the business, which was essentially technical in nature, yet I taught myself to handle the paralegal files that we were handling at that time because my attorney was too slow.

This became a blessing – because, it meant that I could reduce costs by insourcing a lot of the previously outsourced paralegal work which was the essential component of the business model – and a curse, because I was the person handling all files, initially.

Even when I started to hire staff, all ‘complicated’ files – or, all files over a certain $$$ value – would cross my desk, because I wanted to make sure they were “done right” … you see, I had started the business, so I wanted to believe that I was also the best technician.

But, of course, that wasn’t my job …. but, at the the time, I was blinded to the fact that every hour that I spent handling technical issues was an hour that I was NOT running my business!

Eventually, as happens in so many businesses (thank goodness!) my operations manager simply stopped his people referring those files – any files – to me; he didn’t ask, he just stopped sending them to me.

Guess what?

Our technical metrics didn’t fall in a heap … the uber-technician [AJC: obviously, only in my mind!] was not as essential as he thought he was …  and, I had more time to concentrate on my real job: CEO i.e. running the business.

The business grew!

Lesson One learned: I wasn’t essential to the technical operation of the business.

But, as CEO – now, totally focused on marketing, finance, and other high-falutin’ business matters – surely, I was key to the successful day-to-day operations of the business?

Seems logical, until I signed the contract for the USA branch of the business …

… since this would be about three times the size of the Australian operation, I decided that I needed to relocate to the USA to personally manage my ‘global operations’ (well, three countries: Australia, New Zealand, and now the USA) from there.

That left me a hole to fill: I needed to appoint a replacement CEO of my Australian operations.

After a long search, I found somebody, who I appointed and trained over a period of months …. and who promptly resigned for a “better opportunity” [read: more money] just 6 weeks before I was now contractually-bound to relocate to the USA to commence operations!

Think about it: I now had only 6 weeks to find and train a CEO who could replace me in a job where I – like every owner/CEO – believed that I was totally indispensable!

How would this be possible [AJC: queue to apocalyptic visions of imminent business failure]?!

Yet, somehow, I found the ‘new guy’ and gave him all of two weeks training before I left, leaving him with:

– some last minute instructions (which he subsequently, all but ignored),

– my direct phone line in the USA (which he NEVER used), and

– my silent prayers that he wouldn’t run my life’s work into the ground too quickly.

Here is where I learned my ‘second lesson of indispensabilty’: not only did he NOT run the business into the ground, he saved a client that I had all but lost, maintained excellent relationships with my largest existing clients, signed a major strategic new contract, etc., etc. …. he proceeded to double the business over the next couple of years.

In fact, to this day, he is still successfully running the Australian operations for the new owners!

Lesson Two learned: a good business runs well under the watchful eye of it’s owner/CEO … a GREAT business runs even better without him.

You see, anybody [AJC: clearly!] with suitable training and experience can do the technical and managerial work of pretty much any business …

[AJC: if not, you don’t have a business …. you have a JOB]

… it just needs good systems to be put in place so that the business can run on ‘auto pilot’ while you – as the entrepreneur behind the business – do the ONLY job that you NEED to do:

Develop and and promote the strategic vision of the business.

Any other work that you do decide to take on is just so that you can feel busy … if that’s what makes you happy, keep doing it.

Me?

I prefer to make money 😉

… and, I agree, this was certainly the most important business book that I’ve ever read, too!