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Posts Tagged ‘Entrepreneur’

2 Things Entrepreneurs Must Do to Win Big

It’s simple really, but most of us miss it.

1.) When the idea arrives, you serve the idea.

In order to see it thru, you must be committed to the idea, you serve the idea until it is satisfied. The idea might not be what you had hoped for, but you still must serve it until it’s the best it can be.

2.) You have to feel compelled to tell someone about your idea before you go to bed. That’s how good your idea has to be.

If the idea is the best, and it will work, if it’s a good as you truly believe it is, then you must tell someone…if it’s that good, you won’t be able to help yourself, you’ll be desperately trying to tell someone before you turn in for the day.

 

Too Fickle?

One of the major challenges with some entrepreneurs is, they get bored easily and want to move on to the next thing, that is also a red flag that you might not be the entrepreneur you think you might be. Why? One of the primary characteristics of an entrepreneur, is that they are persistent, and see things through, until it’s time to hand of the project / business to those who manage the day-to-day details or a CEO.

If you change your mind too often, it’s crazy making for those who work directly with you, and make’s it more difficult to actually complete projects. Also, moving to fast or being to far ahead of the team doing the work means you must have great communication channels. If you’re too far forward, and the team can’t see what you see, they’ll never be able to catch your vision, or get the work done the way you see it.

Don’t be a fickle leader, be predictable, and have good communication, fickle will only leave you by yourself, which means….your probably not leading anyone.

The Most Asked Question

We are a curious lot, we’re hungry for information & knowledge, we want to know what to do next, always looking for that nugget, that one thing to put us on the right track. We spend hours searching the Internet for a shortcut, are we join groups or businesses thinking it will shortcut success. The shortcut, should you find one, usually doesn’t have staying power, it has a short life span. It’s not because the deal, or whatever it is you decided to join is bad, the common denominator follows you every where you go, it’s why you either quit or hop aboard the next best thing.

I spent years trying to get that shortcut, thinking I could get rich, I could do something where I really didn’t have to work that hard, and make piles of money. Most of us are lazy, we want it all without having to pay the price to get it. There are two things required to succeed in business, one is to hard work, and the other is persistence. The combination of those two brings about life abundantly, growth, excitement, reward, enjoyment, and feeling of doing something special with your time, or your life.

I meet regularly with young people wanting to start their own business, they already know they don’t want to work for the man, they want to do work on their terms. The energy is overwhelming at times, but fun to be around. The conversation always starts with, I want to start a business, or I want a job, but I don’t know what I want to do. Every time, I’m dumb-founded by this, the answer to me is simple and as plain as the nose on our faces. I always say, if you don’t know, don’t worry about it, just go do something. I tell them to go and do something, anything, and they’ll find out what they like, love or hate. The problem is they haven’t done anything, so they have nothing to measure, nothing to compare. The old guard call it experience, I don’t look at that way, I want you to get used to the idea that you will have to do hard work before you discover your passion, the thing you really want to do.

The second thing I tell these young eager minds, go home and write, write down what you love doing. It could be a hobby, it could be music, it could be painting art, it doesn’t matter, just write it down. Once they figure it out, once they see something they are willing to invest their time and no money into, they always get to the most asked question. How do I do it?

This question comes from two things in my humble opinion. One, they haven’t worked for anyone else before, and they don’t learn how business might work. Two, they haven’t learned that building a business is hard work, and they don’t have that long old age thing called experience, they haven’t failed.

The younger generations have two choices to make when they decide to start a business, they can plan with a tradition business plan and funding, or they could just start. The later brings with it failure, and that is uncomfortable, and painful. Failure tends to squash that drive, that passion, that energy to build a business. The other failure is, the business isn’t profitable the first day they start telling the world about their new venture.

There are over 100 questions a business consultant would ask new business owners, and if they answered to many questions wrong, they would tell the young entrepreneur they shouldn’t start the business. I say, don’t listen to them, just go and do something and measure what’s happening as you go. I’m not saying you should ignore certain indicators, the business should be viable, not just a pipe dream.

First young entrepreneurs aren’t sure what kind of business to start, and secondly, they always ask, how do I do it. The most asked question in my business of helping business owners.

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The Future Of Business – Your Profession May Not Exist

It’s entirely possible, that the profession you’re now in, won’t exist or will be dramatically different in the next 5 – 10 years. What you should be learning is, economies, big business, even small business, the financial infrastructure of business doesn’t care how long you’ve been with the company, it doesn’t care if you’re the best at the job, it does care about making money, and you mostly cost them money. Cut backs are almost always in the form of people, rarely have you heard of a business reducing the size of the building or plot of land before they cut back people, it just doesn’t happen, and it’s easier to let people go than to the other cut back ideas.

Many authors have written about the new big being small, because so many people are finding themselves being released all types of jobs, even the long careers that we think are safe and secure. The business world is not compassionate, it’s a bottomline beast, the margins matter, and you’re easier and cheaper to replace.

Soon we will have no choice but to adopt to the new work landscape, and that will be a world with fewer jobs and more self-employed / entrepreneurs. The Industrial Age system is fighting that movement, it wants you to stay where you are and to do as your told.

The biggest challenge with new world order of work, it’s a scary place, the level of risk is higher, but the rewards are also higher if you choose the road less traveled. The reason many don’t step out is because the old system provides you with just the right amount of something called security. That system also has just the right amount structure to make you think no one else could do what you do, you couldn’t be replaced. You must know that’s an untruth. This system we call the Industrial Age is crumbling, and soon we will speak of it as something that didn’t work well for people who were creative, and entrepreneurial in nature.

Your profession, should be you, mastering the best you, providing the best service you can offer, your investment will need to be in you. The term profession now takes on a new meaning doesn’t it, it’s not what you do, it’s who you are, and how you execute who you are. Leaving the Industrial Age behind is hard, but eventually, it will disappear, and you’ll have to figure out how to manage without it. Consider what your profession looks like, and build that.

 

Is Your Business Normal?

Is your business normal? I attended a seminar recently, it got me to thinking, mostly about businesses and two questions I like to ask them. Nothing earth shattering, but it might be to you. If you are an entrepreneur or business owner, we tend to make one big mistake, and it’s a simple thought to keep in mind:

We only accomplish what we aim for.

If that’s true, there needs to be more don’t you think? We accomplish one goal but didn’t set a goal beyond the first one, a sure fired way to fade off into obscurity.

Another area I was contemplating, was on is sales, or leads, or seeds. I’ve learned the more seeds you throw, the bigger the harvest. Are you throwing lots of seeds? Keeping things simple is best, why? Because simple is hard enough.

Two questions I like to ask business owners / entrepreneurs are:

1.) What business are you in?

2.) Hows business?

Not very complicated is it, but lets be honest, there are many, many businesses that don’t really know what business they are in. That should be addressed immediately before trying to measure the second question. Because if you don’t no #1, #2 doesn’t matter, the answer will most likely already be known.

If you are doing business as normal, or usual, you’re probably finding no one follows normal anymore.

So, ask yourself if your business is normal, if you answered yes, then make it your mission to be business as unusual. Because if you don’t, you will be ignored, maybe even considered obsolete, being normal means you’re most likely not making a difference and or shipping. Consider a 3rd question, if your business closed it’s doors today, would anyone miss it?

 

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