Feedback Form
Home Features Mastermind Forums About Advertise Blog Network Contact Be An Author

Lesson #2: “You can’t cut grass when it’s covered with snow”

Terry Matthews Articles
Lesson #2: “You can’t cut grass when it’s covered with snow”
Free Download - The Telecommunications Tycoon: Terry Matthews Takes Off
Name: Email:

Matthews has had more successes than failures in his lifetime, but if there is one thing he has taken away from those failures it is this: timing is everything.

When Matthews and friend Mike Cowpland first formed Mitel back in 1973, they had high hopes. They thought that their imported cordless electric lawnmowers would revolutionize Canadian lawns. What they did not realize at the time, however, was that in business as in life, nothing ever goes as planned.

Their problems began when the lawnmowers failed to arrive on time from their transatlantic voyage. "Our shipment of mowers was lost at sea and while we waited, winter descended and covered our green lawns with snow," recalls Matthews.

Once the lawnmowers finally arrived in Canada, they proved to be no match against Canadian winters. "That taught me a key lesson," says Matthews, "the importance of timing. The shipping company lost the lawnmowers! By the time they showed up no one wanted them, as you can't cut grass when it's covered with snow."

For Matthews, there was little point in placing the blame on either himself or Cowpland. What was important was to learn from the experience and move on. And that is exactly what he did.

The lesson would prove to be a valuable one later in his career, especially with the deregulation of the U.S. telephone company AT&T. Seeing the demand for telephone equipment, Matthews immediately quit his job with Microsystems International and worked with Cowpland to introduce both the touch town receiver and the PBX routing system. He raised $4,000 in seed capital and worked around the clock to get the systems to market faster and cheaper than anyone else. Matthews had seen the opportunity and seized it before anyone else could, and it was a strategy that paid off.
"And that's the secret," says Matthews. "Timing, hard work, smarts and partners. Using that formula, I've either founded or funded over 80 companies, and none have gone bankrupt. Most have done very well."
In 2000, Matthews would again take advantage of timing with the buying back of Mitel. "I proceeded to increase our spending on IP solutions. I more than doubled R&D," he says. "Now, I am pleased to say, I got the timing right."

Two years before he bought the company back, Matthews noticed that IP sales were between five and seven percent of its total sales. When he decided to buy Mitel, those numbers jumped to over 50 percent.

"That tells you I'm doing the right thing," he says, "and it also means that if we hadn't spent the money on IP solutions for enterprises the company would be in decline so rapidly that I would probably be selling it now. Instead, I am taking market share from everyone else...so I feel pretty good about that."

Matthews learned early on in his career the importance of timing, and it was a lesson he would not soon forget.





Lesson 2 You cant cut grass when its covered with snow

Like this article? Share it with your friends

Article Feedback
 Article Feedback No article feedback found.
  Leave Your Feedback
article feedback

Article Feedback

To learn more about the Evan Elite Author Program please contact us.

Famous Entrepreneur Video
Terry Matthews Video - John Reid, President, CATA interviews Sir Terry Matthews, Global Entrepreneur; about the current status of Canada's Technology industry.
Famous Entrepreneur Video

Terry Matthews Picture Terry Matthews Newsletter
Get our free newsletter to learn more about Terry Matthews and other famous entrepreneurs!

Name:
Email:





Evan Elite Authors
John Alexander  
Stephanie Robey  
David Acheson  
Evan Elite Authors

Become An Author
Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details.
Become An Author

Evan's Latest Video
Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media
Evan's Latest Video

Business Opportunities
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"

How to Start An Online Business

Click Here To Learn More
Business Opportunities



Evan's Newsletter
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
Name:
Email:
Evan`s Newsletter

Free Downloads
3 Deadly Traps Icon 3 Deadly Traps
Find & Keep Profitable Clients Icon Find & Keep Profitable Clients
Customer Retention / Attraction Icon Customer Retention / Attraction
Pulse Check Assessment Icon Pulse Check Assessment
How To Work Icon How To Work
Free Downloads - Complete List

Entrepreneur Tools and Guides
Top 50 Social Entrepreneur Blogs of 2009
Top Social Business Blogs
Top Social Entrepreneur Blogs
 
Top 50 Productivity Blogs To Watch In 2009
Top 50 Productivity Blogs
Top Blogs To Watch In 2009
 
Entrepreneur Tools and Guides

SEO For Africa
SEO For Africa
MIEZAN ELISABETH ALLOUMOUA Treichville, Cote D'Ivoire,
MIEZAN ELISABETH ALLOUMOUA
Treichville, Cote D'Ivoire
SEO For Africa

If I Were A Startup...
Chris Nguyen, 30+ national clients on $0
Chris Nguyen
30+ national clients on $0
Lee Segal, >1,800% Growth in 5 Years
Lee Segal
>1,800% Growth in 5 Years
If I Were A Startup... - Complete List

Famous Entrepreneurs
Ben Cohen Jerry Greenfield, Ben & Jerry's
Henry Heinz, HJ Heinz
Henry Heinz
HJ Heinz
Famous Entrepreneurs - Complete List

Entrepreneur Advice
Timothy Ferriss, 4 Hour Work Week
Timothy Ferriss
4 Hour Work Week
Brad Feld, Venture Capitalist
Brad Feld
Venture Capitalist
Entrepreneur Advice - Complete List

Popular Articles
(Premium Authors)

     Big Foot – Little Foot
By Dixie Schmatz
     The Light Bulb Challenge
By Dixie Schmatz
     R3 for Business
By Dixie Schmatz

Have A Suggestion?
Toronto Salsa Classes / Toronto Salsa Lessons Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
Have A Suggestion?

More Evan Carmichael
More Information