Curiosity

Listen

Listening is louder than it sounds.

The more obsessed, the more vociferous we get. Idea machines must be willing to share compelling stories, but listening is part of any transmission. This is obvious, but with precious airtime up for grabs and knowing so much about our own interests, listening can devolve into feeling like a required distraction.

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Hearing is passive.
Listening is active.

As we guide people through the layers of understanding, active listening forms a bond much faster than forcing ourselves to be heard. The fear of not having time to deliver our message will linger, but when we truly tune into what another person is saying, it shows we care. Active listening also helps us better harmonize our thoughts within the moment and counters the common mistake of overloading others with too much numbing details all at once. Knowing each conversation is part of a broader relationship journey, good listeners are almost always given a chance to make a bigger impact.

Ready for an experiment? The next time you meet someone new, embrace your inner scientist. Set your introverted/extroverted mindset aside and focus your attention on asking as many thoughtful questions as you can. The less you talk, the better. This will feel awkward if you just fire question after question, so be concise with each response, then return to thoughtful questions for a more natural interaction. Consider expanding this social experiment by purposely doing this throughout an entire networking event. Remember who you talked with and track how the listening-focused conversations evolve. Over time, how do these relationships compare with others where you’ve been less intent on listening?

Here are tactics to support your listening practice:

  • Center your internal attention.
  • Stay engaged with eye contact.
  • Use jarring questions to dodge small talk.
  • Don’t interrupt or jump to conclusions.
  • Occasionally paraphrase what was said.
  • Avoid the urge to make it about you.
  • Ask curious questions to go deeper.
  • Use non-verbal cues to express attention.
  • Record and share a few key takeaways.
  • Exit gracefully, without a sense of rush.
  • Follow up with one more question.
  • Ask about progress next time you meet.

This type of active listening will not only extend your ability to hear. It will also make your responses more in-tune with what others are thinking versus always trying to prove your point. Selflessness may keep a conversation from landing exactly where we want in that moment, but as we move from one topic to the next, we learn how others work.

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Listening within a support network ignites optimism, connection, and motivation. A healthy balance involves listening to challenge networks, which keeps us intellectually humble and rooted in reality.

When done well, an unspoken bond is formed. This synchronization curates future conversations that are enforced by shared enthusiasm.

Brewed From Within
#34 📖 Leadership

By Ben McDougal, ago

Head Start

The entrepreneurial lifestyle resists definition.

Business owners paint with strokes of curiosity, determination, and innovation. When people build with creative ambition, experience is valuable, but the symphony of desire and attitude plays an equally important role. It takes heart to start and resilience to execute early moves, manage focus, build teams, maintain sales, and provide lasting customer service to maintain momentum.

The best part about an entrepreneurial lifestyle is that it’s accessible to everyone. This can be seen as students explore projects that transcend the classroom. It’s intrapreneurs fueling positive change in existing companies. It’s startup founders achieving product-market fit with new ideas and others who acquire an established business.

EXTRA SHOT

This contribution was written by Sheldon Ohringer. Along with helping us buy a business, Sheldon is an investor and board member who led large sales teams, developed acquisition programs, and as CEO took a technology company public.

Starting a brand new business is one way to explore the entrepreneurial lifestyle, but buying an existing business is also an interesting way to write your own story.

While there may be a higher cost for the head start, acquiring an existing business presents an interesting side door to the entrepreneurial lifestyle.

Organic growth is important, but there are added benefits in augmenting internal development with external acquisitions as well. As you consider a business to buy, avoid future headaches by understanding industry requirements, such as licenses, permits, zoning, and environmental requirements. As you work with existing ownership to determine a purchase price, a valuation based on capitalized earnings, excess earnings, cash flow, and tangible assets are all methods to guide fair negotiations. In the end, the right price is one that delights the seller and excites the buyer.

As details come together, partner with legal and accounting experts who focus on mergers and acquisitions (M&A) to document the transaction. A letter of intent, confidentiality agreement, contracts, leasing documents, financial statements, tax returns, and sales agreements are all important documents to talk with your M&A team about. Many transactions include a vesting schedule as well, so stay in tune with these details to avoid unwanted surprises.

There are a variety of strategic ways to acquire a business, but once the transition takes place, new owners are given keys to a kingdom that hails an established team, customer base, and operating procedures. As we see in the Exit section of the Results chapter in YDNTB, there will be challenges during these transitory times, but in the end, virtuous leaders listen to keep the culture balanced.

All the good that comes with a business is important to maintain, but an audit of negative aspects is important too. This focus on areas that need improvement is stressful, and concerned employees may exaggerate issues to make their own contribution seem important. To stay proportionate, talk with everyone for context, invite resolutions that may solve issues, get hands-on, and stay optimistic to keep your assessment honest and weighted against the big picture.

Searching and finding undervalued, cash-flow businesses may take time, but it serves as a viable alternative to growing a business from scratch. Intentional candor with areas to improve allows new owners to build on past success while charting a renewed vision for lasting prosperity.

By Ben McDougal, ago

Prismatic

There are endless early moves to help avoid pushing your idea toward someday. For instance, creative wireframing requires only a pencil. With a little visualized clarity in place, a couple exploratory conversations can also help.

First, meet with a mentor. This should feel like a supportive space but avoid rainbows and butterflies. Be realistic with exciting aspects of the idea, but also the challenges. As we learned in YDNTB, an early no is much better than a long, wrong yes. That said, playing it safe is easier than activating initiative, so don’t let early doubt slow you down. Instead, welcome it. Let curiosity uncover new understandings. Pivots are inevitable, and this exploration adds confidence as the original idea is tweaked toward product-market fit.

After transparently talking with that trusted mentor, the next meeting is with a potential customer. This will feel too early, but it’s not. You’re actually protecting your personal bandwidth by not swinging at a bad pitch too many times.

To optimize early innings, arrive prepared to ask good questions. Take notes and speak less so you can actively listen to how this potential early adopter is responding.

Are you building a pain killer or vitamin? Remember, feedback is data, and this is only one data point, but let this conversation infuse reality into the idea. Show up, stand out, follow up, stay connected, find a thoughtful way to accelerate their work, and then keep building.

The business model canvas is a tool to do so. While it’s impossible to predict the future, business model canvases help us continue to explore while curating a story that sells.

Most early business ideas don’t have a clear story. This can make it hard to know where to start within the business model canvas. While you can use this tool in endless ways, consider an approach that is less about the entire business and more about one story at a time. Instead of trying to boil the ocean, organizing a complete story for each customer segment creates a combination of more actionable insights.

To give it a try, use this special business model canvas. The areas are numbered to curate canvases that each highlight a customer story:

  1. Customer Segments – Start with the details of a particular type of customer. The goal isn’t to complete the Customer Segments box. It’s starting a story to follow through the rest of the canvas. Now lean into the pain as you move from box to box and watch as your solution transforms into a story.
  2. Value Propositions – What benefit(s) can you deliver?
  3. Channels – Where can you connect with this customer?
  4. Customer Relationships – Who are you working with and how will you make this customer feel?
  5. Revenue Streams – Will financial income flow? How?
  6. Key Activities – What actions make the customer care?
  7. Key Resources – What is needed to keep building, and how might needs change to maintain momentum?
  8. Key Partners – Who helps to make this sustainable?
  9. Cost Structure – What costs go into activating this customer segment? How is pricing organized to support realistic profit margins that align with a financial model?

                By telling the story of created value for one customer segment, hypotheses can be connected with context. Next, using a separate business model canvas, visualize more stories based on different customer segments.

                With separate business model canvases for each customer segment, merge everything into one business model canvas. To stay organized, select different colors to use for each customer segment. As everything blends together, the prismatic rainbow maps roads to reality.

                By Ben McDougal, ago

                Overtime

                Meaningful moments can form faster without an agenda.

                When so much of business communication is graded by productivity, meetings, pre-planned talking points, goals, and recorded remains, there is mysterious value in extended conversations that have purpose, but no end goal.

                Extended discussions create space to pass interesting anecdotes, unstructured opportunities, and unforeseen knowledge grenades. While it’s uncommon, consider how bonus time connects friends who simply haven’t met yet.

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                Most are oversubscribed. This creates an illusion of being busy, but a peculiar conversation is rarely a waste of time.

                Long-term leaders expand minds while tightening impact networks along the way. Respect the extra time required, but let’s invite these verbal volleys and when asked to go into overtime, stay thirsty and see what happens.

                By Ben McDougal, ago

                Adaptability

                As leaders prepare others for an unpredictable future, an interest in understanding answers and an eagerness to claim confidence is essential. A vital element to both qualities is an ability to constantly adapt.

                When technology makes answers easy to find, adaptability makes the human touch unmistakable and more resilient. As students traverse problem-solving activities, they learn to appreciate what goes into the answer. This leads to deeper understanding and boosts adaptability as assumptions are tested and unplanned obstacles are conquered.

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                This contribution was written by Nancy Mwirotsi. She is a leader from Kenya who empowers underserved youth through technology education.

                Imagine a young student, standing in front of a packed room to pitch her first startup idea. Something unexpected is bound to happen. When it does, real-time adaptability keeps her calm and her voice grows stronger as the crowd responds to her ability to execute despite the disturbance. Outside the classroom, similar manifestations occur when leaders reward team members who adapt to stay ahead of innovation curves and we all know how unpredictable entrepreneurship is, which makes adaptability an ongoing requirement for founders building without a map.

                Adaptability strengthens confidence as we then let students lead. When young people are trusted to take the stage, make decisions, or shape solutions, they begin to own their success and claim a confidence that can’t be taught.

                As students claim confidence, adults stop underestimating their capacity. This fosters a two-way exchange for students that see themselves in leaders who motivate them to explore, make mistakes, and yet, always remain valued. A shared interest in how things work can then amplify potential as technology is introduced to create awareness, multiply real skills, and actuate ideas. This experience encourages students to go beyond just using technology to find the easy answer. It elevates those who understand how technology works, which continues to shape courageous innovators that avoid the temptation to be mediocre.

                Within the unknowns of constant change, adaptability keeps us curious. Enduring curiosity can then activate initiative supported by real skills and expanded through lifelong learning. Leaders who create environments that help others build proficiency in the dynamic elements of playforce principles, prepare us all for the future of work.

                By Ben McDougal, ago