This os one of my favorite business lessons. Told well by Peter Greulich.

IBM had survived The Great Depression. Gambling on a post-war boom, Watson Sr. had maintained IBM’s employment levels by increasing inventories when there was little demand. Excess machinery and parts crowded basements and filled every nook-and-cranny of Endicott’s warehouses.
Some on the board of directors, because of this, were lobbying to remove Watson as IBM’s President.

He needed these inventories sold.

A very large government bid, approaching a million dollars, was on the table. The IBM Corporation—no, Thomas J. Watson Sr.—needed every deal. Unfortunately, the salesman failed. IBM lost the bid. That day, the sales rep showed up at Mr. Watson’s office. He sat down and rested an envelope with his resignation on the CEO’s desk. Without looking, Mr. Watson knew what it was. He was expecting it.

He asked, “What happened?”

The sales rep outlined every step of the deal. He highlighted where mistakes had been made and what he could have done differently. Finally, he said, “Thank you, Mr. Watson, for giving me a chance to explain. I know we needed this deal. I know what it meant to us.” He rose to leave.

Tom Watson met him at the door, looked him in the eye and handed the envelope back to him saying, “Why would I accept this when I have just invested one million dollars in your education?”


If you want to invest in your business by learning your way to success now, without the million dollar investment click the button below to learn more.

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Source: Peter E. Greulich, Volume III of Tom Watson Sr. Essays on Leadership: We Forgive Thoughtful Mistakes

Photo credit: Flickr user Naotake Murayama

Expert Key

the truth about experts

Lance Greenberg

Have you ever been watching a basketball or a football game, or maybe you were in the room but not watching, and as soon as the game starts, everyone becomes a critic and an expert? Of course, you and I know better.

It’s like this in business too. Don’t believe me? Try mentioning business in a room full of people who you are sure aren’t well versed in business.

If you want to identify them, then all you have to do is ask:

  • How long have they been in business?
  • Can they leave on vacation for 6 months without checking their email or text messages, come back, and their business be doing great?

If you said no, then these people are probably not the right ones to be taking business advice from. They are far from experts.

I have voluntarily dropped out of many business projects due to an unstable and unsustainable model. The same can’t be said for my friends who are now either in debt, have a damaged reputation or who are no longer in business.

I love them to death, but if only they had listened!

If your family was looking at college for your son, daughter, or grandchild, wouldn’t you want to base your decision on real information, rather than rest their future (and your money) on opinions and guesses?

Sadly, folks do not always take the safe route in business. Did you know that 95% of all startups fail? Businesses go down in flames, taking $50-100,000 with it, leaving the entrepreneur broke, employed by someone else and in debt. Also, more businesses fail due to rising in revenue, than lack of.

Pretty crazy, huh?

Fortunately, for you and me, we are willing to listen more than we talk. We understand the benefit of investing in tools and learning how to use them to make sure that our business starts with a sustainable, scalable model.

But most of all, we care about our family enough to take calculated steps into entrepreneurship.

We are not willing to risk our family’s future on anything other than real information. I can do you one better.

What we do at Logika International is put opinion into perspective, give and teach you how to use the tools that will give you real and solid information; real answers to burning questions, and help you build a profitable, and scalable template for your business. This is the way we make those calculated moves, rather than opinion or educated guesses.

We are so good at what we do that our business model has been going strong for 17 years and is still growing. If you want to learn more about starting, sustaining, or scaling your business, click the link below and fill out the form now so that we can get you answers quickly.

 

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Photo credit: Flickr user GotCredit