Lessons on the Art of Sales: An Evening Discourse in Toronto ☕

On a brisk autumn evening in Toronto, the city lights just beginning to flicker to life, I made my way to a small, warmly lit café. It had become my ritual to meet there with my mentor, a seasoned veteran of the steel casting industry who had recently sold his successful enterprise. Our discussions, though informal, were profound and transforming.

As we settled into our usual corner with coffees in hand, he looked at me intently and asked, "Do you enjoy selling? Are you proficient at it?"

I shrugged uncomfortably. "Honestly, I find sales quite daunting. It's not just about the awkwardness; I prefer to immerse myself in the creative and strategic aspects of business."

He gave a small, knowing smile and replied gently, "If you're apprehensive about sales, you might want to reconsider your entrepreneurial ambitions. In business, and indeed in life, everything is sales. You’re constantly selling - your vision to your team, your reliability to your suppliers, your potential to investors, and your value to your customers."

His perspective was unsettling yet eye-opening. I had always pictured an entrepreneur as a strategist or a thinker, seldom as a constant salesman.

Over the following weeks, his words echoed in my mind, reshaping my understanding of entrepreneurship. It dawned on me that successful entrepreneurship was less about solitary genius and more about one's ability to engage and persuade others.

"You see," he continued on one of those evenings, "your product might be excellent, but without the ability to convey its value, it's like a star without a sky. Consider a teacher: isn't teaching essentially selling knowledge and wisdom to students? Or a doctor, who must sell the treatment plan to their patient for effective healthcare outcomes?"

This analogy struck a chord. The essence of all these roles was to inspire trust and convince others of their importance in the grander scheme of things.

Motivated by his insights, I began to view sales not as a burdensome task but as a fundamental skill, essential for nurturing trust and crafting beneficial relationships. His mentorship taught me to approach sales with enthusiasm and strategy, turning potential transactions into opportunities for connection and mutual growth.

Thus, those evenings in Toronto, filled with reflections and revelations, became the cornerstone of my personal and professional transformation. Under the guidance of my mentor, I learned that mastering the art of sales was crucial not just for business success, but for fostering deep, meaningful interactions in every facet of life.

Trust & build the right Process for Better Outcomes

Ron Vachris Just Became Costco's New CEO.

He started at the company 40 years ago as a forklift driver:

1982: Started as a part time Forklift driver at Price Club earning $3/HR

He went to community college to Study Business Management while being a forklift driver and got promoted multiple times over the next decade.

In that decade, he eventually became an assistant GM and then a GM of a price club location.

1993: Price Club Merged With Costco and he was tasked to help lead expansion into Arizona.

He continued to rise in the ranks over the next two decades in all aspects of the business and never left.

2015: Appointed senior vp in real estate then merchandise.

2022: Appointed COO, President and heir to CEO

2024: Appointed CEO of Costco.

From 3$/HR to over 10 million in annual compensation, he trusted the process.

LNG ♨️

Japan imported its 1st shipment of liquefied natural gas 50 years ago. Now the nation is the world’s largest buyer of the fuel (and pioneered the industry). Here is the incredible story of how one man changed Japans outcomes.

The Power of Asking the Right Questions

In business and in life, the ability to ask the right questions might not grab headlines, but it's a foundational skill that drives understanding, innovation, and effective decision-making.

Understanding the Importance of Questions: Questions are tools for unlocking value, identifying unseen opportunities, and avoiding potential pitfalls. They serve as the bridge between curiosity and knowledge, helping leaders and entrepreneurs navigate the complexities of business and personal relationships. I continue to feel at the very basic level we fail to ask average questions, let alone great questions.

Approach to Effective Questioning:

1. Be Clear and Concise: Questions should be straightforward and designed to elicit useful and actionable responses.

2. Open vs. Closed Questions: Open-ended questions encourage discussion and detailed responses, while closed-ended questions are best for gathering specific data quickly.

3. Follow-Up: Good questioning involves follow-ups that delve deeper, showing engagement and a desire to fully understand the answers provided.

Examples in Business Settings:

• Customer Feedback: Instead of asking "Did you like our service?" consider asking "What specific aspect of our service did you find most valuable?" This not only provides specific feedback but also engages the customer in a deeper conversation. This approach can reveal specific strengths and areas for improvement.

• Project Reviews: Instead of a generic "How did the project go?" you might ask "What were the most significant challenges faced during this project, and how were they overcome?" This question not only assesses project outcomes but also gathers insights into problem-solving strategies and team resilience.

Examples in Personal Settings:

• Building Relationships: When getting to know someone, move beyond "What do you do?" to questions like "What's something you're passionate about and why?" This encourages the sharing of deeper, more personal insights, which can strengthen connections.

• Self-Reflection: Instead of a broad "Am I happy?" ask "What specific moments this week made me feel fulfilled?" This helps pinpoint sources of joy and satisfaction, which can guide more informed life decisions.

Running the Questioning Process:

1. Prepare in Advance: Think about what you aim to learn or achieve from the questioning session. This preparation helps you craft more targeted questions that are likely to yield useful responses.

2. Create a Comfortable Environment: People are more likely to open up and provide honest, thoughtful answers when they feel comfortable. Whether in a business meeting or a personal conversation, fostering a non-judgmental, receptive atmosphere is key.

3. Listen Actively: The art of questioning is as much about listening as it is about asking. Active listening involves paying close attention to the answers, which can lead to more insightful follow-up questions and more productive discussions.

4. Analyze and Act: After gathering information through questions, analyze the responses to draw actionable insights. Whether it's adapting a business strategy or understanding a friend's perspective better, the real value of questions often comes from how you use the answers.

By integrating these approaches into your questioning strategy, you can enhance your ability to lead effectively, make better decisions, and foster deeper personal connections. Remember, the simplest tools, like the right questions, often scale the best to create significant impacts in both business and personal arenas.

Exploring unconventional books for entrepreneurship can be a great way to gain unique insights and strategies that differ from the mainstream advice. Here are three books that fit that bill, each offering a distinct perspective or methodology not commonly found in typical business books:

1. "The Misfit Economy: Lessons in Creativity from Pirates, Hackers, Gangsters and Other Informal Entrepreneurs" by Alexa Clay and Kyra Maya Phillips - This book dives into the world of the underground and informal economies, drawing lessons from pirates, hackers, and other unconventional entrepreneurs. It challenges traditional notions of innovation and success, providing insights on creativity and ingenuity from the fringes of society.

2. "Orbiting the Giant Hairball: A Corporate Fool's Guide to Surviving with Grace" by Gordon MacKenzie - Rather than a typical guide on how to succeed in business, this book is a call to preserve creativity and individuality in the face of corporate norms and bureaucracy. MacKenzie, a veteran of Hallmark Cards, shares his experiences and techniques for nurturing creativity within the constraints of a large, established company.

3. "Rework" by Jason Fried and David Heinemeier Hansson - While somewhat better known than the other two, "Rework" still stands out for its counterintuitive approach to business. The authors, founders of the software company Basecamp, reject many traditional business practices and offer an array of succinct, unconventional wisdom on how to succeed by breaking the rules.

These books provide alternative approaches and fresh perspectives that can inspire innovative thinking in entrepreneurship, especially for those looking to step outside the traditional pathways and explore new ideas.

Mastering Your Time: Overcoming Digital Distortions for Personal and Professional Growth

In a world inundated by social media platforms like Instagram and Twitter, it's easy to fall prey to distorted perceptions of success and beauty. Instagram often leads to "body dysmorphia," making individuals feel they are not fit enough, while Twitter can induce "entrepreneur dysmorphia," creating a false belief that one's business isn't thriving sufficiently. These platforms amplify highlights, often glossed over with enhancements from drugs or digital tweaks to project an unrealistically perfect life or business facade.

However, the essence of real progress, both personally and professionally, lies in recognizing that these perceptions are often not grounded in reality. Most businesses and individuals do not possess the perfection they project. Acknowledging this can liberate you from unhealthy comparisons and redirect your focus to what truly matters: investing in yourself and safeguarding your time.

Strategies to Redirect Focus and Invest in Yourself:

1. Prioritize Personal Development:

   • Focus on activities that enhance your skills and knowledge. Continuous learning is not just about professional development but also about enriching your personal life.

2. Implement Effective Time Management:

   • Use strategies like time blocking and setting specific times for digital engagement. This helps minimize distractions from social media, which can skew your perception of reality and value.

3. Set Realistic Goals:

   • Base your goals on your personal and professional benchmarks, not on the seemingly perfect achievements of others. This helps maintain a healthy perspective on your growth and success.

4. Practice Reflective Self-Assessment:

   • Regularly assess your progress against your own metrics, not those set by social media standards. This promotes a healthier, inward-looking approach that values genuine achievements over external validations.

5. Cultivate Mindfulness and Contentment:

   • Engage in mindfulness practices that encourage you to appreciate the present and your current achievements. This can shield you from the discontent spurred by external comparisons.

The journey to personal fulfillment and business success is uniquely yours. It's not measured against the fabricated successes often portrayed online but by the tangible progress you make in your life. By safeguarding your time and focusing on genuine self-improvement, you enhance not only your productivity but also your overall life satisfaction. Your products improve, your creative endeavors become more unique, and you waste less time chasing unattainable standards.

Embrace this path of personal accountability and focused self-investment. The clarity it brings can transform your perspective, making every moment and every effort count towards building a fulfilling and successful life.

The most incredible investor you never head of but should know about?

Paul @Bragiel

3 companies. 2 exits. 14 unicorns as angel / seed investor including

@Uber, @Roblox, @unity, @Zappos, @NianticLabs & @stripe

At age 36, unfit and with no experience in sports, decided to hack his way as an Olympic athlete. Obtained Colombian citizenship by presidential decree & became the national champion of the country in cross-country skiing representing Colombia in the world championship.

Meanwhile built 5 venture capital funds in the world's most exciting & fast-growing regions:

GoldenGateVC in Southeast Asia, SavannahFund in Africa, Smokvc in Eastern Europe, Niuventures in Brazil, SisuVentures in Nordics.

Doesn't own a house, a car or really anything than a backpack, a Mac and a 8 year old iPhone SE. Has friends all around the world. Moral of the story, you can be what ever you put your energy into, but you don’t have to be famous to be successful you just have to be committed.

Bonus! Thought of the week