The Six Things Dogs Can Teach Us About Business
Fortune’s Path co-founder Margaret the Pug shares her business wisdom. In this video she can be seen making a sales call.
I’ve learned a lot about business in 16 happy years. I share some of it here trusting that next time you can’t finish what’s on your plate, you’ll think of me.
Be a Monopoly
Every dog is a monopoly. Even in houses with more than one dog, each dog establishes its own beloved place in the economic unit. You can do that with your business.
If you’re a service business, know why your work can’t be brought in-house — nobody wants to replace their dog with their kid. If you’re a product business, know your market and anticipate its needs. Bringing the master his slippers is always a winner unless she’s a cat person.
The best monopolies are irreplaceable. To be irreplaceable, you need either superior technology, exclusive content, or to corner a market. If you can’t do any of those, all you have left is to love and be loved. That’s where dogs shine. Don’t underrate it.
We dogs don’t kid ourselves. We know that after we die you’ll find another dog you love just as much as us. We’re not irreplaceable, and neither are most businesses. But we can give love and be loved in return. That’s worth a lot.
Be a Mystery
Dogs know we’re endlessly fascinating, but only when you're thinking about us. It’s the same for every business: out of sight, out of mind. When you have your customer’s attention, make the most of it. Every interaction should seem like a mystery of perfection: how do they do that?
Don’t whine or beg when your customer isn’t paying attention. It’s sacrilegious, but think like a cat. Cats are inbound marketing geniuses. If you keep going about your business, the mystery will be too much to ignore, and your audience will find you.
Save Your Energy for What Matters
When I was young, everything got my attention, but only for a moment. Sniffing every leaf on a walk turned up some tasty tidbits, but it cost a lot of energy, and in business, burning energy is burning capital.
You have limited time, talent, attention, and capital. When your business is new, you can wander like a puppy searching for the goods. What you lack in time, talent, attention, and capital you can make up for with hard work, but the faster you learn who to give the sad eyes to at the table, the bigger dog you’ll become.
Life is Short
We dogs live about ten to 18 years. It’s about the same in business. The average S&P 500 company lasts about 18 years. Don’t delay decisions or be afraid to experiment. You have less time than you think if you want to become or stay a really big dog. (I still eat things that would turn your stomach. Mostly they turn out well.)
It’s Easy to Get Fat and Lazy as You Age
Let’s say — like me — you’re one of the lucky few. You live past the typical expiration date. It’s easy to get fat and lazy. You’re going to have to learn some new tricks if you want to put off the Big Sleep and stay relevant.
I never take the Fortune’s Path family for granted because I’m not entitled to anything. Follow the dog motto: investigate everything, be open to everyone, but trust only a few, and don’t forget to lick the hand that feeds you.
Sometimes You Need Outside Help
I can’t open a jar of peanut butter. You probably can’t do a comprehensive competitive assessment, or unbiased research, or assess your own product culture and processes. The faster I get help when I need it, the more I get what I want. It’s the same for any business. Asking Fortune’s Path to do things for you saves a lot of time and comes out better than living without. I could eventually chew through the plastic jar of peanut butter, but it sure is smarter to have Tom feed it to me with a spoon.