Knockout Advice From Mike Tyson

Business planning is a necessary evil.

But business plans with long-term projections are a waste of time.

No one can predict a company’s long-term financial future with any accuracy.

As boxer Mike Tyson famously said – everyone has a plan till they get punched in the face!

In Praise Of Late Developers

As a child, scientific genius Albert Einstein was thought to be stupid.

He did not speak till he was four and he did not read until he was seven.

He, of course, went on to develop the general theory of relativity, one of the two pillars of modern physics.

Young Albert was simply a late developer and proof that no child or adult should ever be written off.

As Einstein demonstrated – everyone can be exceptional at something.

Examine Your Failures

You should examine your failures.

Most people don’t.

They prefer to look forward than look back.

To learn from your mistakes – put your failures under the microscope.

You’ll repeat your mistakes if you don’t scrutinise your setbacks. 

Seeking Advice

Some people are always asking for advice.

And the advice they act upon often comes from the last person they spoke to.

Asking for advice is good – but only if you get it from credible sources.

A wise person seeks advice only from someone who knows more than themselves.

Be Aware

Success in business does not lie exclusively in your own hands.

Your success or failure is also determined by forces such as the economy, the strength of your team and the might of your rivals.

A dip in the economy or an aggressive and innovative masterstroke from competitors can put you out of business.

Be aware of what’s going on around you.

Play to your strengths, know your rivals’ weaknesses and aim to exploit them.

Make It Happen

What would you do if you weren’t afraid to fail?

What would you do if you lived in a perfect world?

You’d make your dreams come true – wouldn’t you?

You don’t live in a perfect world but that shouldn’t stop you from living your dream.

The gap between dreaming and doing is a thousand miles but you narrow it by taking the first step.

Crystal Ball Gazing

You don’t need a crystal ball to see the future if you shape it yourself.

Your future success is in your own hands. Fate doesn’t come into it. 

Your future is determined by the decisions you make today.

In the words of Abraham Lincoln – the best way to predict the future is to create it yourself.

It’s Not Our Data

Individuals are increasingly demanding the right to control their own data.

Brands with foresight will embrace it.

Brands that don’t will be tomorrow’s dinosaurs.

Data is precious and, going forward, we need to change our thinking. 

It’s not company data. It’s customer data and they have a right to control it.

Brands Rule

Not a lot of people bought the crime novel from new author Robert Galbraith when it was first released.

Only after Galbraith was revealed as the alter ego of Harry Potter author JK Rowling did sales of The Cuckoo’s Calling shoot it to No1.

Rowling was driven by a desire to take her writing persona as far away from herself as possible.

Being anonymous allowed her to avoid book-signings, interviews and photographs. No one was interested in an unknown author.

She may not have realised it at the time but by confirming Galbraith as her alter ego, Rowling paid homage to the power of a brand.

She proved conclusively that whether it's books or beans, the more potent the brand, the more impressive the sales.