If you grew up in the 90’s you probably know who Bill Nye, the Science Guy, is. Bill became known through his PBS science show in the 90’s and has watched his popularity surge again. He started as an engineer for Boeing and first attempted comedy.
But what if Bill Nye chose to be the Business Guy? He would probably apply the principles of science to business. You see, many of the laws of our universe reflect the challenges we face. So if Bill became a business guy maybe we would all have an understanding of the Eight Laws of Business:
- A business at rest tends to stay at rest - This law seems to be a common practice. An owner expects sales to magically appear without any outside action taking place. You open the doors, create the website and start your Twitter account; so you should have sales rushing in. Right?
- A business in motion tends to stay in motion - Active leaders who maintain momentum throughout their product cycle create momentum as they build their brand. When an outside influence comes along they pivot and go again. This perpetuates their existence well beyond the companies that hide in fear when market change occurs.
- For every action, there is an equal and opposite reaction - Whatever action you take will cause outside influences (customers; media; market) to react accordingly. Be aware that some actions contain a lot of potential energy that when released can cause an explosion of activity, both positive and negative. Think about the last crisis that was mismanaged. What do you remember about public response?
- Cause must always precede effect - Things don’t just happen to us or our business. For every event there is a cause. Your success depends on the actions you take. So do your failures. Awareness is important for every business leader. Recognize the outcomes you create are directly influenced by your inputs.
- Excellence (E) = Mass (M) x the speed of business (C) squared - The Mass of your business can help you be more nimble or it can slow you down. Large companies typically cannot shift on a dime. They are slowed by their own weight, policies, and increasing bureaucracy. Speed of business is continually accelerating. Your ability to manage your Mass and apply that effectiveness to the Speed at which business moves will create Excellence.
- Positively charged particles will attract the negative - Success will bring out the naysayers and your enemies. Humans are negatively wired. Instead of celebrating on someone’s fortune, people often look for flaws.
In a hierarchy, every employee tends to rise to their level of incompetence - Often referred to as the ‘Peter Principle’, this law applies to any business that promotes heavily from within. If you do not put into place the right checks and balances you will eventually end up with bad leaders. Does that mean it’s a mistake to promote from within? No. Balance is needed when hiring or when a promotion takes place.
- Business can neither be created nor destroyed. It can only change form - As we evolve opportunities change. Some businesses such as Nokia, IBM, and Apple evolve as business changes. In many cases a company finds itself obsolete. The wagon wheel manufacturer goes out of business because the horse drawn carriages are replaced by cars. Also, a restaurant that fails to provide a unique concept and good service will often close within six months, and ironically, it is usually replaced by another restaurant.
- The Universe will work towards balance. - Balance is the ideal place to be. In reality we are never there. Even when you are riding a bike you make micro-adjustments to stay upright. The degree and volatility by which balance is achieved is impacted by how out of balance you are. If you are a business owner who chooses to only focus on work, your personal life will erode. Eventually that damage will not only destroy your purpose but also your company.
These laws of business will influence how successful you are. Channel your inner Bill Nye and you will achieve more.