5 Lessons on FIRE
A month after hearing the Corporate team from “Elf on a Shelf” speak at Tory Johnson’s Spark & Hustle in Atlanta, I’m still thinking about their impact as they shared their wisdom and experience with a room full of entrepreneurs.
Here’s Five of My Take-Aways:
1. It’s Never Too Late to Birth a Dream
Carol Abersold was suffering from Empty Nest Syndrome and brain-storming with her daughters about what she could do to re-direct her energy when they came up with the idea to market a family tradition.
They took action on the idea. Action being the operative word.
2. Tell Your Story – No One Else Has the Same One
The story behind “Elf on a Shelf” is not smashingly unique, but it communicates a story – the most important element being a fun-filled family tradition.
3. Believe in the Power of Your Dream
Their idea was rejected by publishers. Among other things, they were told by experts that their product would find space only in the clearance bin. They refused to be deterred and went around that obstacle.
3. The Bigger the Dream, the More Important the Team
The fact that the family became the corporate team most likely made it harder, not easier, to navigate the hard places. It takes incredible commitment to a relationship to be in business together.
4. Honor One Another’s Gifts
You can’t be in control and you can’t be right all the time. Learn to concede when necessary; BACK OFF and give others space and recognize the gifts and talents in your team. Carol, the mom, is totally involved in the business but there is a carefully orchestrated division of responsibilities. Daughter Christa Pitts is the CEO and handles sales and marketing. Her sister, Chanda Bell oversees new product development, product design and manufacturing. They emphasized the importance of careful hiring.
5. Revisit Your Core Values Daily
They have theirs on the wall of the office but more importantly, as the measuring stick for every decision. They don’t FIRE until they’ve checked it with their values of FAMILY, INTEGRITY, RESPECT, EXCELLENCE.
These ladies are authentic. They are living with passion and purpose while making a profit – their business has had an annual growth rate of 272% since 2005.
Regardless of what the media portrays, America is still the land of opportunity. What’s your dream?