Inc. Magazine December 2016 - January 2017

Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders.

United States
Mansueto Ventures LLC
6 Issues

in this issue

1 min
avoid these 4 toxic thought patterns

1 — CONSIDERING ONLY EVIDENCE THAT CONFIRMS YOUR BELIEFS Do you accept only data that supports what you think? You’re running the risk of overlooking a competitive threat until it’s too late. 2 — DISCUSSING YOUR GOALS BUT NOT WORKING ON THEM Talking about what you hope to achieve wastes energy. Effective leaders just do it. 3 — FEELING TOO CONFIDENT Don’t over estimate your strengths. It’s important to reflect on what you, and your business, need to improve. 4 — BEING PREJUDICED Good leaders recognize their biases and constantly work to overcome them— and their businesses are stronger for their diversity. TOP VIDEOS Venus Williams Tennis champion and founder of EleVen “How you talk to people, and how you talk to yourself, has got to be positive.” Steve Blank Serial entrepreneur and creator of the Lean Startup movement “This has to be passiondriven,…

2 min
resumes vs. legacies

F OR MUCH OF MY career in business journalism, I worked for pub lications that put Wall Street at the center of the universe. The executives I covered in those publications are highly intelligent, urbane, and charming— the embodiment of an American aristocracy. They graduate from exclusive schools, work in the fanciest office towers, are dressed by the best tailors, and climb from one impressive job to another. And what do they do for a living? They move money among institutional investors and corporations. They help CEOs acquire companies. (And, of course, they engineer the kinds of financial contraptions that in 2008 came within a whisker of causing global collapse, but never mind that now.) But what they don’t do is gamble everything to start companies, create jobs, build wealth from…

2 min
heavy hitter

“It brought the yin and yang back together.” —MARTIN KISTLER, founder, Ignition Creative M ARTIN KISTLER GREW up in Switzerland idolizing his older brother, an inter national judo champion who competed in the ’92 Olympics. He inspired Kistler to practice judo every day, enter matches on weekends, and set himself up to go for the gold. Then, when he was just 20, a debilitating back injury stopped him in his tracks. “From seeing what tournament comes next to wondering if you’ll ever walk again,” says Kistler, “was pretty intense.” At the time, he was studying architecture at a Swiss university. After graduating, he was, he says, “not quite ready to start the adult life.” Inspired by Frank Gehry and a lecture he’d attended in Zurich, he decided that pursuing a master’s at Southern…

3 min
building and keeping a sales dream team

SMART CEOs ALWAYS KEEP an eye on the numbers, and it’s no different at IT security firm Cylance. Co-founder, president, and CEO Stuart McClure loves to tout his Irvine, California– based company’s three-year growth rate of 7,613 percent—and plenty of credit likely goes to senior vice president of worldwide sales Nicholas Warner. But a key to those numbers is, ironically, not emphasizing numbers when hiring a sales team. “It’s common to look at a sales rep’s past performance based solely on numbers, but we have a less quantitative approach,” McClure says. “Past per formance might get them in the door, but above everything, Nick looks for candidates with impeccable reputations—sometimes just going with his gut.” This approach helped Warner grow his team from five reps to 80 in two years. That’s…

1 min
the jargonator

• POLICITEERING / • noun. Encouraging police to issue tickets to help fund local government. Rather like airlines that relentlessly chisel you for checked baggage, carryon baggage, window seats, aisle seats, food, drink, oxygen masks … Source: Mother Jones STUD / • noun. The apocalyptic strategy of investing in life’s essentials: staples, telecom, utilities, and defense. This is as close to “prepping” as you can get in a $4,000 suit. Source: Carlson Capital/Business Insider • ANECDATA / • noun. Trusting a gut feeling and anecdote more than actual, factual data. This explains the posttruth, pickyourownreality nature of modern life. At least that’s what I reckon. Source: San Francisco Examiner MOONLIGHT CLAN / • noun. Young workers in China who “spend their salaries faster than they earn it.” Which, frankly, sounds like young workers everywhere. But it…

1 min
don’t do that. do this

INSTEAD OF Beating the trees to fill positions fast YOU SHOULD Always be hiring “Every single week, your managers should be talking to people,” says Dan Weinfurter, CEO of sales effectiveness firm GrowthPlay in Chicago. “Build a big bench. Then, if someone on your team isn’t a good fit, you’ll have candidates you’ve already been talking to.” INSTEAD OF Trimming the budget by capping commissions YOU SHOULD Know no limits “Capping a salesperson’s quota is completely demotivational,” says sales trainer Steve W. Martin. In his research, he’s found “there is a correlation between not capping quotas and [high] performance.” INSTEAD OF Hiring in a hurry to cover your territories YOU SHOULD Offer reps incentives to double up, or even step in yourself “I’ll keep a territory open before I’ll put someone in who will waste my time and theirs,” says Bob Gaw, president of…