Wealth Building Strategies

How To Learn From Every Failure

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Posted by Eamonn Percy - The Percy Groupmonn Percy - The Percy Group

on Thursday, 20 October 2016 16:46

1a8b8caLife is 10% what happens to me and 90% of how I react to it.’

- Charles Swindoll

Failure can be a good thing if you take it as an opportunity to learn and ‘Start again more intelligently.’ as Henry Ford said. No one has a consistent track record of success without ever experiencing failure. In fact, if you study the lives of great people, you find they experienced significant, repeated, and consistent failure, particularly early in their careers, before success was ultimately achieved.

You will also find by studying the lives of these successful people, that each failure produce the fruit of future success.

Abraham Lincoln famously failed many times including: one failed business, one lost sweetheart and seven losses for political office. However, he went on to win more often than he failed, and eventually became the President of the United States.

Henry Ford started as a machinist and went bankrupt twice before finally successfully launching the Ford Motor Company.

Steve Jobs was fired from the company he co-founded, Apple, only to be rehired and lead the company to incredible success.

Walt Disney was a high school dropout that was once fired for ‘not being creative enough’ and went on to launch and build one of the greatest entertainment companies in the world.

Even the best and the brightest have failed at one point but bounced back. If they can do it, so can you!

Once you have failed, strive to learn why, and what to do differently next time. If you fail and then do the same thing without learning, you will never achieve success, as you haven’t learned any lessons from the failure.

Be objective and realistic about failure. Do not spend hours dwelling on it, rather, examine and see what you can learn from it. Apply your new knowledge to your next endeavor, and you will find that over time that your rate of failure will go down, and likely, the magnitude of those failures will decrease.

Check out epercy's blog



Wealth Building Strategies

Phoenix GDP Way Up

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Posted by Justin Smith

on Tuesday, 18 October 2016 10:48


Financial, advanced business services and manufacturing were big parts of the push up in our favourite market. These economic numbers are critical for investors to know and understand. Long term real estate investing success requires a robust job and growth profile. This article from the Phoenix Business Journal is a must read. ~ Justin Smith

CLICK HERE to read the complete article


Wealth Building Strategies

Leading an Innovative Company

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Posted by Eamonn Percy - The Percy Group

on Thursday, 29 September 2016 03:55

“If you're not failing every now and again, it's a sign you're not doing anything very innovative.”
-  Woody Allen 

summary1Last week I published a post on called Creating a Culture of Innovation which featured the six most important steps I believe a leader should take to build a highly innovative culture.  The step that generated the greatest interest is leading by example, which is the subject of this article.
One of the biggest errors a leader can make while building and leading an innovative company is underestimating the impact of their own action.  It’s not their words that count, but the actions which impact culture.  Leadership is life under a magnifying glass.  Every trait, nuance, skill, error, belief or genius idea is first exposed and then magnified, its rawest form. Great leaders are humbled by this and strive hard to improve and build upon their strengths, or at least mitigate their weaknesses.  Average leaders are eventually exposed and, if they are fortunate, are given an opportunity to develop, or rebound at another time, hopefully, wiser.  This is good and healthy, since most people, whether in an innovative culture or not, demand much of their leadership and detect uncertainty much better than leaders think they can. 
An insightful leader will start with a full, honest and comprehensive appraisal of themselves through a process of reflection, analysis and objective 3rd party assessment.  Not just once, but on a continuous basis, with the improvement reinforced with accountability partners.

They will also embark on a process of lifelong learning and renewal.  Developing leadership skills requires tremendous effort and time dedication with a constant reinforcement of better habits.

A leader striving to lead by example will make the distinction between a company where innovation is revolutionary or evolutionary and then modify their approach accordingly.  Revolutionary innovation requires transformative thinking, disruptive business models and nerves of steel.  Evolutionary change requires exceptional management, timing and a high EQ to manage competing interests as the company transitions.
A good leader will recognize that any innovative company will need financial resources to see major projects through to fruition, and therefore, will maintain a long-term source of funding to maintain staying power. Strategies include full product pipelines with good margins, business unit portfolio management, and good access to capital.

Finally, leading an innovative requires any leader to show humility and turn to his talented people, not out of weakness, but out of strength.  This will encourage all employees to embrace a culture where it is okay to admit that they don’t have every answer to every question and that the true innovations coming from closing that knowledge gap in a way that creates something bigger for the company and better for the customer.

By Eamonn Percy

....also from Eamonn: Creating a Culture of Innovation


Wealth Building Strategies

Phoenix attracts West Coast tech companies

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Posted by Justin Smith

on Tuesday, 27 September 2016 12:11

phoenix22In the 1980s and ‘90s, most of the tech jobs in Phoenix focused on back office and customer care centers for companies with headquarters elsewhere, city officials said.

Now, places like downtown Phoenix, Tempe and Scottsdale are buzzing with entrepreneurs and new companies in the tech space. There are an estimated 132,000 high-tech jobs in Arizona, according to a TechAmerica Cyberstates report.

“We’re beginning to gain a reputation that there’s a real tech community here,” said Steven G. Zylstra, president and CEO of the Arizona Technology Council... CLICK HERE for the complete article

brought to you by Western Wealth Capital


Wealth Building Strategies

Creating a Culture of Innovation

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Posted by Eamonn Percy - The Percy Group

on Thursday, 22 September 2016 19:13

bulb“An investment in knowledge pays the best interest.” - Benjamin Franklin

You want your company to thrive because it innovates, not innovate to survive.  Major changes in the global economy, technology, and demographics, are significantly disrupting many industry sectors, putting a squeeze on profit margins of companies in status quo mode while rewarding the innovators with new opportunity and stronger market positions. 

By building a culture of innovation into the DNA of both your leadership and company, you become more competitively positioned and create greater long-term shareholder value.  Business leadership must be persistent, aggressive and focused in transforming the company, so innovation becomes the way you are, not something you do.

The 6 keys to building a culture of innovation are:

Make innovation a strategic priority. Ensure you develop and implement a strategic plan to grow your organization, and make innovation a key priority within that plan.  Review and update the strategic plan regularly (no less than annually), ensure the organization is aligned with the achievement of the plan, and consistently measure your progress against its goals.

Communicate why innovation is a priority.  Communicate to all levels of your organization, so employees are aware of your plans, understand their roles, are committed to taking action and can define success.  Provide regular and meaningful updates on progress.  Be clear and transparent. Create a common language in order to achieve greater organizational cohesion. 

Implement a system that enables innovation. For a business initiative to become successful, it will need a system to nurture, support and measure it. For instance, you could select a system like Lean, which started in manufacturing and now is being adopted in Health Care and Technology, as the backbone of driving transformative thinking.  Or give people time to innovate (i.e. Google gives its employees 20% of their time to innovate)

Lead by example. Take the time to focus on becoming a better business leader, so you can model the behaviors you expect of others, particularly during difficult or critical periods.  Nothing will make the cultural change more successful than this one act. Be persistent, be authentic and be open minded to opportunity.

Hire, train and build innovative talent. Make the recruitment and retention of key staff that support your innovation strategy a key priority.  Help your current staff to develop new skills and find the right way to contribute in a more innovative environment, while hiring new staff that can fill the gaps and have the skills and abilities to drive innovation. Be consistently focused on market problems and customer needs.

Fail faster: Encourage more risk-taking and make failing for taking measured risks both acceptable and an opportunity.  Find ways to decrease the failure cycle time, which will drive new opportunities from the failures, and move the company ahead faster.

Don’t innovate for the sake of it. Rather use innovation as a core strategy to build a dominate market position, enabling your company to adapt and transform, creating long-term shareholder value well into the future. 

- Eamonn Percy 

Screen Shot 2016-09-22 at 7.27.53 PM

...also from Eamonn:

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