tag:blogger.com,1999:blog-6748598045637597602024-02-20T00:52:46.278-08:00RaulpienerPurele Veragehttp://www.blogger.com/profile/00453707840017960588noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-674859804563759760.post-90388644290510414262013-11-09T09:11:00.004-08:002013-11-09T09:11:52.717-08:00Resolute Adventures, Ascending the Summit - How Mountaineering Prepares For Entrepreneurial Success<div id="article-content" style="text-align: justify;">
<div style="text-align: justify;">
Many people try to start businesses. And there are those who try
to climb mountains. There appears to be connections for the people who
are passionate about both [see Ten Steps to the Top]. The ones who are
good at both say that learning the skills to do one can help with the
other.</div>
<div style="text-align: justify;">
Ascending the summit of entrepreneurial success doesn't
necessarily happen in the classroom. Though huddling for studies at the
Entrepreneurial Studies Program at UNC Kenan-Flagler provides a good
base camp.</div>
<div style="text-align: justify;">
After a notable career, Randy Myer, Professor of the
Practice of Strategy and Entrepreneurship, decided to return to the
business school of his alma mater nine years ago to share his
entrepreneurial experiences. His students give him high marks for his
thoughtful teaching of Entrepreneurial Marketing and Business Plan
Analysis. What they might not realize is his coaching in the classroom
of key lessons learned have roots built on a very solid and rugged
foundation through his passion for mountain climbing.</div>
<div style="text-align: justify;">
"Months of
training in order to climb Mount McKinley and Aconcagua with a carefully
selected team reinforced my desire for independence and to have control
of my own destiny, " stated Randy Myer. "So I left partnership at Booz
Allen Hamilton to start my own company."</div>
<div style="text-align: justify;">
Having reached the
figurative summit of making partner at a leading consulting firm, he,
like many driven business leaders, was already looking for the next
summit to climb. "Going into high altitudes reinforced my desire to be
an entrepreneur. Climbing required drive, motivation, individual energy,
and quick decision making."</div>
<div style="text-align: justify;">
While at Harvard Business School,
Myer caught the bug for climbing from his class mate from Banff Alberta,
who eagerly taught him the ropes during visits to neighboring New
Hampshire. Then, while at Booz Allen, Myer would catch a long weekend
here and there to try new challenges such as ice climbing. While he
found consulting to be very intellectually challenging, he viewed
mountain ascension as a very strict physical challenge that required
months of training with a single minded goal to get to the top often an
entire year later.</div>
<div style="text-align: justify;">
Similarly, entrepreneurs are goal oriented and
must have high energy to summit the journey. Unlike being a consultant
or working at a large corporation, "in starting one's own company, it's
more about the quality of ideas, operational effectiveness, building a
team - networking. You don't have to be book smart to start your own
business - or to be a successful mountaineer - you need to be goal
oriented."</div>
<div style="text-align: justify;">
Myer ascended Mount McKinley, Aconcagua, Rainer, and
Kilimanjaro, each requiring a full year of preparation, all while
working at Booz Allen. He would book the tallest hotel while on
business travel so that he could awake before sunrise to run the
stairwells with whatever work materials and books from his hotel room,
bible and magazines, could fit into his back pack to simulate his ninety
pound mountain pack.</div>
<div style="text-align: justify;">
After leaving Booz and inspired from
mountain climbing, Myer dug into his entrepreneurial adventure with
vigor and founded Best Friends Pet Care, which he grew into a national
chain of high-quality pet services facilities. Raising initial $3
million seed capital to launch his idea, he completed three additional
rounds of successful financings and built it into a $30 million chain
with over 55 U.S. locations. He sold his interest in the company in the
mid-1990s to outside investors.</div>
<div style="text-align: justify;">
People who are passionate about
climbing will be passionate about training and putting in as much effort
as they can. This passion is very similar to entrepreneurs starting a
business, poring in almost every non sleeping hour into their start up,
while visioning future success. An entrepreneur feels pressure from
investors, customers, employees, and family. Accountability in climbing
is to your team, financial sponsors.</div>
<div style="text-align: justify;">
"Major climbs have three
phases that are not unlike starting a new business. The first phase,
planning, is quite similar in both," states Myer. "The second phase, the
actual journey is much the same although the climb gets harder as you
get higher which is probably the reverse for starting a business."</div>
<div style="text-align: justify;">
Finally,
there is the third phase, reaching the summit, which has some of the
same characteristics of a successful exit. For most climbers, the
excitement is in the journey as it is for entrepreneurs. "But the
outside world often measures you by the third level - did you reach the
summit or have a successful exit," explains Myer, "We love the journey
much more. But people that ask about climbing or my startup seem to
focus mostly on the end result. "</div>
<div style="text-align: justify;">
Both the downhill ascension in
mountain climbing and the integration post exit associated with a
venture that has been acquired can be anti-climatic and surprisingly
challenging. True mountaineers and entrepreneurs trudge through this
post phase as quickly as possible in order to start the cycle over,
earning the "serial" descriptor.</div>
<div style="text-align: justify;">
Are entrepreneurs risk takers or
just highly driven folks? Those who do not climb probably think risk
first and drive second. For Myer, "the risk does not really enter my
mind - like bungee jumping there is thrill to it, but if you think risk
first, you would probably never jump. I always assume the risk is one I
understand or can manage."</div>
<div style="text-align: justify;">
When the group leader told the team
that conditions would force them not to attain the summit, Myer
reflected, "Did I want to turn back on McKinley? Absolutely not. But I
did not argue with our leader. That is the hardest part for me -
managing the drive to excel - to get to the top."</div>
<div style="text-align: justify;">
A recent
inspiring guest speaker to Myer's students was Brenda Berg, founder of
Scandinavian Child, exclusive North American distributor of unique
children's products headquartered in Raleigh, and an avid 'rock jock'
whose license plate reads "CLIMBING".</div>
<div style="text-align: justify;">
One student asked how Berg
managed the fear of starting a business. She explained, "I am a rock
climber. I like to scare myself. Fear is a way of life when you start
and run your own business. If you can't handle fear, starting a business
is not for you."</div>
<div style="text-align: justify;">
Reaching new levels in business is very much
like climbing. Berg explained, "There are times when you have to put all
of your focus on one giant leap - trusting yourself, your gear, and
your partner to make sure that it happens, or that they catch you on the
way down. Moreover, if it doesn't work, you have to get back on the
rock and try it again, or the fear will take over and paralyze you."</div>
<div style="text-align: justify;">
She
finished answering the fear question by explaining that as an
entrepreneur, she "lives with fear every day. Fear is a good driver when
channeled positively, especially as a leader."</div>
<div style="text-align: justify;">
Like Myer, Berg
started climbing during school and planned her life around her studies
and work with her passion for this adventure. "There was nothing
practical about it - it was all all-encompassing - like having a second
career." Similarly, starting and running a business is easily like
working two jobs, in time, energy, and focus.</div>
<div style="text-align: justify;">
"For years I did
nothing other than school, work, and climb all over the country, plus
Mexico and New Zealand." Like Myer, she would often travel five days a
week for work as a management consultant, then detour to rigorous
climbing locations. She then climbed for the weekend before heading off
on her next business trip.</div>
<div style="text-align: justify;">
Looking back, Berg states, "I can see
that I succeeded in climbing for many of the same reasons that I am able
to start and run a business - I enjoy the challenge!" Climbing gave her
lessons in leadership. "In times of crisis, I learned that I can be
calm and in charge. This gives me added confidence in my work."</div>
<div style="text-align: justify;">
"Climbing
is a great way to learn your strengths and weaknesses. It is all about
facing your fears head on," Berg concluded by giving climbing credit for
having a positive impact on her starting and running a business. "If
you really have a passion for climbing, it means that you are up for a
challenge. Taking that challenge and applying it to starting a business
is a great next step."</div>
<div style="text-align: justify;">
For some climbers, the quest is a family
affair, with the goal of tackling the seven summits - the highest peaks
of the seven continents. For John Spivey, founder of Gardens of the
Carolinas, a full service design/build landscape firm, has ascended
Mount Kilimanjaro, Elbrus and Aconcagua with his grown son and they are
planning now for Denali in Spring, 2010. "Climbing the seven summits
with my son has become a unifying aspect for us." While his son trains
on the mountains in Boulder, CO Spivey regularly runs or treks, complete
with weighted pack, at Umstead.</div>
<div style="text-align: justify;">
An entrepreneur at heart, Spivey
registered for incorporation of his business the first work day after
his graduation from NCSU, where he played on the soccer team, as Myer
did also at UNC. He remains very active in the day to day activities of
his design/build landscaping business which has benefited from his
passion for mountaineering. "In climbing, I must plan for the
unexpected. My approach to gear, food and route are crucial. This sort
of planning has stimulated a more complete approach to my business
planning."</div>
<div style="text-align: justify;">
Another local climber who has begun his quest to
conquer the seven summits, is Zachary Maurides, who works as a product
quality analyst at eprocurement leader SciQuest, and also continues to
run the two thriving businesses he founded while at Duke. While on full
scholarship to play football, Maurides was awarded the Markets and
Management Entrepreneurship Award and was on both the Academic All ACC
and ACC Honor Roll.</div>
<div style="text-align: justify;">
While a student at Duke, Maurides reached the
top of Mount Kilimanjaro. In August of this year, he will attempt to
summit Elbrus. Like Spivey, he and his father would like to ascend all
seven summits and make it a family tradition. He is currently getting in
at least one strenuous workout a day such as climbing the stairs of
Duke stadium with a fully weighted pack as well as one light workout of a
long walk of over 3 miles.</div>
<div style="text-align: justify;">
"Starting your own business involves a
lot of risk," says Maurides, "and I think this appetite for risk is
what allows me to think I can conquer these seven mountains." Stepping
back, he reflects, "I also think that climbing a mountain, like any
other difficult task, helps to give a person perspective on their life.
It makes the day to day struggle of starting and growing a business seem
small."</div>
<div style="text-align: justify;">
Maurides served last year as teaching assistant for a
public speaking class in which many Duke student athletes were enrolled.
"Zach is simply an amazing guy with a go and compete mindset," stated
Kip Frey of Intersouth Partners and the professor of this course. "I
often tell executives who work for me - you must own the problem - how
are you going to solve? Zach gets this philosophy - he is no nonsense,
no excuses."</div>
<div style="text-align: justify;">
"My advice would be to decide you are going to do it
and make a promise to yourself, and other people if necessary. I find
that from there my pride will push me to finish the task. The last thing
I want is to tell all those people how I backed out," explains Maurides
to those who are considering preparing for mountaineering. He adds,
"It's the same thing with starting a business, decide you are going to
do it, then find a way."</div>
<div style="text-align: justify;">
Spivey goes on to advise aspiring
mountaineers, "Do your research, talk to people that have been on the
mountain, train hard, and hold true to the motto 'the summit is an
option, base camp is mandatory'."</div>
<div style="text-align: justify;">
Berg stated she was a planner
and tended to take on that role with her climbing friends in organizing
their weekend excursions. New entrepreneurs are often advised by those
who have walked in their shoes, "If you fail to plan, you plan to fail."
Being a successful entrepreneur takes planning and all the key
ingredients laid out in the "Ten Steps to Reach the Top".</div>
<div style="text-align: justify;">
Spivey
concludes by stating the positive impact climbing has had on running his
business, "One learns perseverance and commitment to a well laid plan
can be rewarding. However, sometimes things uncontrollably end
differently and you must find solace, knowing you gave your best
effort."</div>
<div style="text-align: justify;">
[Side Bar]
<br />Ten Steps to reach the Top: Can leadership on the mountain translate
into business success? How, when and why do mountaineers go on to be
successful entrepreneurs? Is it important to have reached the literal
summit or is it the preparation and the journey that give rise to proven
leaders?</div>
<div style="text-align: justify;">
1. Visioning. Includes the recognition that a powerful
vision is compelling. It energizes the visionary and enables them to
excite others to participate. The group dream.</div>
<div style="text-align: justify;">
2. Choosing the
right team mates. Ones that fill the team from a critical skill set and
personality standpoint. A quality group that supports the common vision,
provides needed feedback, and implicitly trusts one another.</div>
<div style="text-align: justify;">
3.
Committing to the goals and strategies. Need to fully commit and
understand what it's going to take. Decide if team wants to attempt a
"first route" - to traverse where no one else has yet set foot. Akin to a
breakthrough invention.</div>
<div style="text-align: justify;">
4. Understanding what constitutes truly
reaching the summit. Agreement amongst key stakeholders - the team -
each step along the way - when to turn back? What is the difference
between a 'successful exit' and 'failure'? Successful serial
entrepreneurs and mountaineers know to focus on enjoying journey.</div>
<div style="text-align: justify;">
5.
Developing the action plans and understanding the rules of the road.
Relates to knowing 'how things have been done'. Don't reinvent where
it's not necessary. Must have explicit plan - route, camps, back up
camps, how you will communicate, financing. Leverage best practices. Be
able to be specific and tactical to reap resulting success.</div>
<div style="text-align: justify;">
6.
Being correctly resourced. You need to have enough provisioning to
weather the most treacherous and unexpected of wintry conditions. Have
the right staff at base camp to keep foundation solid.</div>
<div style="text-align: justify;">
7. Getting sponsors/advocates. Relates to investors, supporters, and more.</div>
<div style="text-align: justify;">
8.
Avoiding dangerous ideas, people or routes; but knowing when to take.
Don't do unethical things. Avoid toxic people. Be flexible and respond
to the right opportunities. Know when to innovate/take risk and when to
follow.</div>
<div style="text-align: justify;">
9. Understanding the power of the press. Getting positive
coverage will help you get support for your next summit, helps you
develop a reputation, can help you bring attention to another cause you
care about, can open up other doors of opportunity.</div>
<div style="text-align: justify;">
10. Knowing
when the time is right to make the ascension. Season, weather,
politically, personal life. Are all the stars aligned to maximize
likelihood for success?</div>
</div>
Purele Veragehttp://www.blogger.com/profile/00453707840017960588noreply@blogger.com0tag:blogger.com,1999:blog-674859804563759760.post-84597582339117837412013-11-01T02:30:00.000-07:002013-11-09T09:11:15.920-08:00Entrepreneurialism: Seven Unnecessary Traits<div style="text-align: justify;">
When you are working to establish your own business you may believe
certain things to be true about entrepreneurialism. While some traits
may have merit there are other traits that may not be as necessary as
you might have imagined.</div>
<div style="text-align: justify;">
Leadership Skills vs. Personal Drive</div>
<div style="text-align: justify;">
Interestingly,
leadership skills are less important than personal drive. In most
entrepreneurial efforts the seeds of an idea are cultivated by ONE not
MANY. In the end if you believe in the idea you do not need the ability
to lead others to pursue your dream.</div>
<div style="text-align: justify;">
Money vs. Dream</div>
<div style="text-align: justify;">
Entrepreneurial
efforts are often about achieving a goal and less about making 'money'
the primary goal. Certainly if you do your job well the money is likely
to follow, but your efforts should be based on your dream first.</div>
<div style="text-align: justify;">
Power Broker vs. Average Joe</div>
<div style="text-align: justify;">
An
entrepreneur does not need to pursue power in their business pursuits
because they already possess the power they need to step out and follow
their dream. In effect, an entrepreneur answers to themselves so,
seeking personal power makes little sense in entrepreneurial efforts.</div>
<div style="text-align: justify;">
Extrovert vs. Introvert</div>
<div style="text-align: justify;">
You
may find it interesting to learn that many introverted or shy
individuals actually do well in many entrepreneurial endeavors. If you
are outgoing it can be helpful to your overall goals, but the Internet
has made it possible for introverted dreamers to find a place to let
those dreams thrive.</div>
<div style="text-align: justify;">
Gamblers vs. Methodical Planning</div>
<div style="text-align: justify;">
Becoming
an entrepreneur is often thought of as a gamble, however many
entrepreneurs are better served by making careful plans and exercising
proven strategies to minimize the chance of failure. Entrepreneurialism
is not so much about throwing caution to the wind as it is about taking a
dream and finding ways to make that dream a reality.</div>
<div style="text-align: justify;">
Organization vs. Creative Thought</div>
<div style="text-align: justify;">
You
may find it interesting to note that some of the best business owners
are not especially organized - it takes away from their ability to
create new ways to make their business better. This is why you usually
find these individuals with a quality assistant as the business grows.
The end result is a mind that can envision where the business needs to
go and steps over the pile of paperwork to get there.</div>
<div style="text-align: justify;">
As you take a
look at the list you find that leadership skills, money, power
brokering, being an extrovert, being a gambler and having strong
organizational skills may not be as necessary to the role of
entrepreneur as you may have thought.</div>
Purele Veragehttp://www.blogger.com/profile/00453707840017960588noreply@blogger.com0tag:blogger.com,1999:blog-674859804563759760.post-31138308556934659862013-10-23T09:10:00.000-07:002013-11-09T09:10:27.406-08:00Can Entrepreneurialism Be the Saving Grace?<div style="text-align: justify;">
Everyone wants security and at one time, a person's job gave him or
her that security -- but not anymore. When government jobs begin to lay
people off or force days off without pay, some may view this as the
writing on the wall. At one time having a government job meant security
and that you could retire on that job. With the economy, the way it is
today, entrepreneurialism may be the saving grace. There are people who
aren't waiting to get that notice; instead, many are leaving the
workforce to carve a piece of the entrepreneurial pie for themselves.</div>
<div style="text-align: justify;">
Owning your own business is risky and in fact, many people fail when starting an <u><strong>entrepreneur home based business</strong></u>.
Nevertheless, what entrepreneurs have in common is that they don't view
a failed business as a failure. They see it as an opportunity to get it
right the next time. A failed business teaches them not to place all of
their eggs in one basket. These people although few far and between,
won't stop until they are successful and that is what puts them above
the masses that quit after the first try. To jump in the pool of
entrepreneurialism, you must develop a no quit attitude. Partnering with
other entrepreneurs is also a good strategy for success.</div>
<div style="text-align: justify;">
At one
time, it was unheard of to start a business with less than $100. Now,
with the help of the Internet, you can do just that by starting a home
based business. In fact, many small cleaning companies have been started
for less and become empires in the cleaning industry. Content mills are
another example of using the internet to provide a product that is in
demand. These companies hire writers to provide web content to other
internet entrepreneurs who need it to help build traffic to their
website. At no better time could a person become a business owner with
their hobby. The resources are available thanks to the internet and the
small business administration. In addition, selling a product or someone
else's product has pushed individuals into successful business
ventures. It is a loop of entrepreneurialship that has been proven to
work.</div>
<div style="text-align: justify;">
Trying to be the biggest company is no longer the focus of
entrepreneurialism. Just being able to call your own shots and making
ends meet without punching a time clock, is what it is all about for
many people who take that leap of faith. The only characteristic that
sets rich people apart from poor people is their stick-to-itiveness and
possibly their refusal to work for someone else. Job security isn't what
it once was and entrepreneurialism is a chance at creating your own job
security. Your success greatly depends on how hard you are willing to
work. You won't ever fire yourself and you will have yours and your
family's best interest in mind at every decision-making meeting. If you
view entrepreneurialism as your way of never being able to be fired
than, you may have that entrepreneurial bug in you too.</div>
Purele Veragehttp://www.blogger.com/profile/00453707840017960588noreply@blogger.com0tag:blogger.com,1999:blog-674859804563759760.post-54927724006738382482013-10-03T04:30:00.000-07:002013-11-09T09:09:43.178-08:00Staying in the Entrepreneurial Mindset Online<div id="article-content" style="text-align: justify;">
<div style="text-align: justify;">
Entrepreneurs who start out with a brick-and-mortar business are
generally seen in the community as a new business owner who is striving
to get ahead in the business world. The entrepreneurial mindset that is
required to start that type of business may be easier for some to
sustain because of the support given by friends, families and neighbors.</div>
<div style="text-align: justify;">
However,
an online entrepreneurial mindset may be more difficult to sustain
because it will not be immediately evident to other people what the
business does or even that you have a business at all. To keep the right
mindset when your business is online often requires a higher level of
discipline than when the business is more physical.</div>
<div style="text-align: justify;">
Small Business Self-Discipline</div>
<div style="text-align: justify;">
Getting
up every morning and going to a physical building to work for your own
small business requires little discipline because the business simply
won't run if the business owner isn't there. Going to work often feels
like going to any other job. But, when working at home on a computer,
the feeling is generally much different.</div>
<div style="text-align: justify;">
Staying disciplined
enough to go to the computer each day amidst all of the distractions of
home takes a much different type of discipline. The entrepreneurial
mindset then has to push you to keep going each day, even if it seems
like there is a lot of to do around the house or you just don't feel
like getting started that day.</div>
<div style="text-align: justify;">
Being an Entrepreneur</div>
<div style="text-align: justify;">
One of
the things that many online entrepreneurs find is that it is often
difficult to explain to other people what they do and that it is a real
business even if it is not housed in a physical retail space. Some
people may consider it your hobby or even ask when you will be getting a
real job.</div>
<div style="text-align: justify;">
This can make it harder to keep that entrepreneurial
mindset for many new business owners. To keep from letting skepticism
erode your self-confidence, simply treat your business like any physical
business. Refer to it as a business, work in it each work day like any
other business and continue to think of it that way in order to stay
motivated.</div>
<div style="text-align: justify;">
The Results of a New Business</div>
<div style="text-align: justify;">
Perhaps the best
way to keep the entrepreneurial mindset is to see the results of that
business. When the business is making a profit and your lifestyle is
better than it ever was before, you and those who may have doubted the
business will see how serious it really is.</div>
<div style="text-align: justify;">
Even if a business is
virtual, it is an entrepreneurial exercise that can create an entirely
new lifestyle for you and your family. With hard work and an
entrepreneurial mindset, it has every chance of being as successful as
any other type of business.</div>
</div>
Purele Veragehttp://www.blogger.com/profile/00453707840017960588noreply@blogger.com0tag:blogger.com,1999:blog-674859804563759760.post-49995523413201121532013-09-20T02:00:00.000-07:002013-11-09T09:09:21.845-08:00What Does Entrepreneurial Leadership Really Mean For Your Children?<div style="text-align: justify;">
What does today's financial environment present for your child? In an
advertising frenzy of iPods, iPhones, branded objects and label hopping
examples of seemingly never ending desires financially expressed by
your children, how does a parent convey the good measure of
entrepreneurial leadership needed to set a course for financial freedom
and overall success for your greatest asset, your child?</div>
<div style="text-align: justify;">
The
primary goal and the key to successful entrepreneurial leadership for
your children lies in the ability to purchase a lifestyle to sustain the
highest level of well-being and transfer this knowledge to your
children.</div>
<div style="text-align: justify;">
One of many groups concerned with children's financial
literacy, The South Carolina Economic Council, which focuses on teaching
children about finances, reports that "teaching children about money
and finances has moved to the front of the educational agenda."</div>
<div style="text-align: justify;">
A
considerate and careful approach is relative to desires for real life
achievements. Parents who seriously consider the financial success of
their children are reasonably prone to present their own money
management acumen as a clear example. Parents develop their own
standards of "parental marketing" geared towards their own children.</div>
<div style="text-align: justify;">
Primarily
winning formulas that have worked for good'ole dad or mom will be
valued by children who have been directed along those same paths set by
practical examples. Clearly, parents must devote the same attention to
financial education as applied to other areas in the life of healthy,
emotionally sound and attune young minds.</div>
<div style="text-align: justify;">
While a motivated and
well educated entrepreneurial parent should grasp the time tested
concepts of balance sheet affluence vs. income affluence and actual
wealth, these concepts will not translate to your child's individual
success without the practice of entrepreneurial leadership extended by
the parent. As with other areas of successful life skill sets, parents
have no less obligation to teach money management, budgeting, and
investing than they do to neglect to teach a child to walk.</div>
<div style="text-align: justify;">
The
whole consideration of today's economics should not be entirely focused
on mere cost. For example, times were different for grandad, but the
valuation of the purchasing power of a dollar has changed in the course
of any lifetime. Enduring entrepreneurial leadership in any lifetime
encompasses winning formulas of economic care and the willingness to
take financial risks only worth the reward.</div>
<div style="text-align: justify;">
So, as a parent of an
intensely important child, the question today is, what will tomorrow's
financial environment present for your child?</div>
Purele Veragehttp://www.blogger.com/profile/00453707840017960588noreply@blogger.com0tag:blogger.com,1999:blog-674859804563759760.post-66894746226744814182013-09-01T04:00:00.000-07:002013-11-09T09:07:24.288-08:005 Entrepreneurial Leadership Aspects of Innovative Executives<div id="article-content" style="text-align: justify;">
<div style="text-align: justify;">
<i>"Always bear in mind that your own resolution to succeed is more important than any other."</i> - Abraham Lincoln, US-President, 1861-1865</div>
<div style="text-align: justify;">
In
order to become a fully functioning, successful individual in whichever
endeavor you choose to undertake, you must first cultivate the right
attitude and behavioral traits. No where else is this fact more true as
than when we consider the dominant characteristics needed for
entrepreneurial leadership.</div>
<div style="text-align: justify;">
There are effective executives and
directors in many fields but most leadership development programs
neither focus on increasing entrepreneurship nor do they employ
innovative training methods. However, you can acquire, develop and
robustly practice the requisite entrepreneurial leadership skills.</div>
<div style="text-align: justify;">
According to the late great management expert, Peter F. Drucker, <i>"The
entrepreneur always searches for change, responds to it, and exploits
it as an opportunity. Innovation is the specific instrument of
entrepreneurship. (It's the entrepreneurial) act that endows resources
with a new capacity to create wealth."</i></div>
<div style="text-align: justify;">
Entrepreneur extraordinaire, Sir Richard Branson, explains why he changed his mind and became one because he originally <i>"wanted
to be an editor or a journalist, (and) I wasn't really interested in
being an entrepreneur, but I soon found I had to become (one) in order
to keep my magazine going. "</i></div>
<div style="text-align: justify;">
So in a very real sense, Sir
Richard, Bill Gates, Steve Jobs and others like them already had
attributes of the leadership mind-set and they were behaving in similar
ways as leaders do too. If you hope to successfully initiate any
commercial, governmental or public service undertaking, you will have to
learn, exhibit and embrace the characteristics of entrepreneurial
leadership.</div>
<div style="text-align: justify;">
What types of character traits do entrepreneurs have?
Are those behaviors really important? In a word, these characteristics
are important because if you don't possess them, you will have lower
chances in terms of business success. The characteristics are as follows</div>
<div style="text-align: justify;">
1. <b>Risk Assessor</b>
- this very important aspect of entrepreneurship is probably the most
misunderstood one of all. Many organizational executives are willing to
take any risk which presents itself as a breakthrough or
never-before-tried opportunity. But without taking the time and effort
to thoroughly evaluate or explore the potential pitfalls of their new
idea, they are not very likely to succeed in their venture. In the
course of doing business, you will always encounter a number of
challenges, problems and situations demanding your prompt attention,
decision and resolution.</div>
<div style="text-align: justify;">
However, after careful evaluation there
are many risks which are worth taking, especially if their variables can
be examined and then worked out and if the majority of these
uncertainties are determined to be good for the business. At those
times, you must be willing to be a risk taker, otherwise you won't be
acting in an effective entrepreneurial leadership capacity.</div>
<div style="text-align: justify;">
2. <b>Wise, Smart and Accepting of New Ideas</b>
- Most people believe being smart is all there is to being a successful
executive - but wisdom, a willingness to learn new things and an
acceptance of new realities and viewpoints are also necessary traits for
winning in your entrepreneurial enterprise.</div>
<div style="text-align: justify;">
Of course, your
cleverness, keen insights, and witty interactions with others will carry
you far throughout your business dealings. Regardless of your
position, today's complex and pressure-packed situations compel you to
demonstrate mental toughness, alertness of changing circumstances and
intelligence about emerging trends. Those attributes will help you earn
the respect and trust of your clients and all your associates or
partners.</div>
<div style="text-align: justify;">
3. <b>Executive Leadership Development</b> - It still
surprises me to hear someone say that leadership is just a talent some
people are born with. Yes it is true that the raw ingredients and
characteristics of leadership excellence can be hard to detect or find
among any random or unorganized mass of individuals.</div>
<div style="text-align: justify;">
There are not
many people who naturally have the kind of nerve it takes to lead.
However, today's innovative training programs easily empower large
groups of ordinary people to learn, understand and adopt the proven
fundamentals of entrepreneurial leadership principles, practices and
discipline.</div>
<div style="text-align: justify;">
Your executive leadership skills will serve your
venture when your personal qualities and behaviors help you guide,
influence, manage and direct people. These abilities will enable you to
handle your business affairs with greater ease and positive emotions.</div>
<div style="text-align: justify;">
4. <b>An Inner Passion for Your Enterprise</b>
- One essential characteristic of successful entrepreneurs is the
amount and scope of their enthusiastic, passionate zeal they have for
their business. We have seen high levels of this emotional trait in many
public service, governmental and commercial leaders who were also
founding members of their organizations.</div>
<div style="text-align: justify;">
No executive leadership
development or innovative training programs can "teach" you how to have
an intense yearning and desire for your venture. You alone must have,
maintain and increase your enthusiasm for and uncompromising interest in
your business pursuits. When your drive, determination and passion
reaches a fever pitch, you will be well on your way towards successfully
operating and growing your business.</div>
<div style="text-align: justify;">
5. <b>Honesty, Integrity, Trustworthy</b>
- Every organization is built and depends upon positive relationships.
Some management experts say entrepreneurial leadership means dedicating
and investing eighty percent (80%) of one's time into developing,
organizing and strengthening relations with associates, customers and
other stakeholders.</div>
<div style="text-align: justify;">
As cinema director, Neil LaBute, observes, <i>"In a relationship you have to open yourself up."</i>
Every manager knows this is true because without being forthright,
dealing sincerely with and providing access to your clients, the
business will not go very far. Your honesty, integrity and trustworthy
nature will enable you to earn the loyalty, custom and good will of your
community, buyers and sponsors and your colleagues.</div>
<div style="text-align: justify;">
Obviously,
there are other characteristic and behavioral traits needed to ensure
success in your entrepreneurial leadership activities. The five
attributes listed above will help you handle most of your organizational
responsibilities, duties and obligations.</div>
<div style="text-align: justify;">
These traits also form
the basis for successful careers in any industry or profession. If,
however, you can equip yourself with the means to improve your
performance, some additional time spent in innovative training courses
will put you over the top.</div>
<div style="text-align: justify;">
If you plan on using an executive
leadership development program to sharpen your competence in these
characteristics, all you'll need to do is study market trends carefully,
think of a few strategic options for your venture, provide the capital
and you'll be ready to take entrepreneurial leadership action.</div>
<div style="text-align: justify;">
<i>"The
real issue is not talent as an independent element, but talent in
relationship to will, desire, and persistence. Talent without these
things vanishes and even modest talent with those characteristics
grows."</i> - Milton Glaser</div>
<div style="text-align: justify;">
Copyright © 2008, Mustard Seed Investments, Inc. All rights reserved.</div>
</div>
Purele Veragehttp://www.blogger.com/profile/00453707840017960588noreply@blogger.com0tag:blogger.com,1999:blog-674859804563759760.post-26533331635724086952013-08-30T02:00:00.000-07:002013-11-09T09:06:38.870-08:00Benefits of Joining an Entrepreneurial Organization<div style="text-align: justify;">
Perks. We all love them. From getting a free soda from the store our
older brother worked at when we were younger, to the discounts we
receive from our suppliers for being a valued customer. It's what fuels
our networking and what makes us reach out to organizations that bring
value to forming a community. And in today's tough economy, we need all
the benefits and perks we can obtain, if only to give us that extra edge
over our competition.</div>
<div style="text-align: justify;">
So, that's what we can expect when joining
an entrepreneurial organization. Perks. And some of the biggest perks
come with the access granted to the biggest business opportunities
around the world. This is due to the fact that many entrepreneurs form
partnerships with organizations and companies in exchange for monetary
support and other contributions of a similar nature. Sometimes these
partners are large corporations, sometimes small businesses. Sometimes
organizations form strategic alliances instead of partnerships. Either
way, the benefits of such arrangements become clear and present when you
become a member of a reputable entrepreneurial organization.</div>
<div style="text-align: justify;">
These
partners will often offer discounts to members of entrepreneur networks
as a way of saying "thank you" to its members. These help save both
time and money, while lowering operational costs and increasing overall
profit. And in this down-turn economy, that is no small advantage.</div>
<div style="text-align: justify;">
Keep
this in mind when looking for an entrepreneurial organization. Make
sure that the list of partners they are associated with are all
reputable businesses and organizations with long, upstanding connections
and reputations in the business world. You'll want to see that the
entrepreneurial organization takes pride in its name and who it
associates itself with. Remember, any organization you attach your own
name with, you are also attaching the names of all those that they
attach their name to. This can be a very good thing if you choose
wisely, a possible detrimental situation if you don't.</div>
<div style="text-align: justify;">
But don't
only look for those big name corporations that can help you globally.
Look for entrepreneurs who are locally involved in an entrepreneurial
organization's chapter. Small businesses are at the foundation of the
free market and support from local entrepreneurs shows you that an
organization has a strong community presence. Building a strong
community of solidarity is tantamount towards keeping the local
businesses striving and in sync with the hyper-local economy.</div>
<div style="text-align: justify;">
Finally, look for an <u>entrepreneurial organization</u>
that has been offering exclusive partnerships for upwards of 15 years.
This will ensure that their connections are rock solid and you will be
offered a network that is both steady and influential. By having
established themselves, the entrepreneurial organization will be able to
provide you with growth and expansion opportunities into new sections
of the world, increasing your revenue and range of productivity.</div>
<div style="text-align: justify;">
Well-established
entrepreneur networks also carry more significant benefits and
discounts, increasing both their value to you and in turn, your value to
them. Don't forget, becoming a member of an entrepreneurial
organization works both ways. It is not only you that is benefiting from
the organization, but the entrepreneurial organization that is
benefitting from you as well. By accepting to associate themselves with
your good name, they are adding to the network of entrepreneurs
world-wide.
<br />And that's the way perks get started.</div>
Purele Veragehttp://www.blogger.com/profile/00453707840017960588noreply@blogger.com0tag:blogger.com,1999:blog-674859804563759760.post-71984829437668757272013-08-17T09:05:00.000-07:002013-11-09T09:05:57.899-08:00The Key to Building a Successful Home-Based Business - Develop an Entrepreneurial Mindset<div id="article-content" style="text-align: justify;">
<div style="text-align: justify;">
A successful home-based business is something that many people
dream about. With it, they can establish their own work schedule, be
their own boss, and save thousands of dollars a year on commuting and
other work expenses - not to mention avoiding all that traffic! But the
problem these people commonly run into is that they lack the
entrepreneurial mindset required to move forward with their business in
spite of challenges. They give up when things go sour and they become
upset when they fail to generate the kind of income they expected to
right away. That's a natural reaction, but the entrepreneurial mindset
requires a reaction of a different sort - and it can significantly alter
the outcome of your home-based business.</div>
<div style="text-align: justify;">
Entrepreneurs who are
successful find that they don't see problems as insurmountable
difficulties. Instead, they see problems as opportunities to be fleshed
out and challenges to meet and conquer. They like to think outside the
box and to devise new and creative ways to overcome adversity. A
successful home-based business is operated by someone who can implement
these strategies - someone with an entrepreneurial mindset. When an
entrepreneur encounters something that is not going his or her way,
giving up is never an option. Changing course is possible, but only out
of necessity after considering all the alternatives. According to the
entrepreneurial mindset, no decisions are made out of fear, anxiety, or
misplaced passion. An entrepreneurial mindset is a positive mindset; it
emanates success thinking, and thus it attracts success in the greater
world.</div>
<div style="text-align: justify;">
If you want to run a successful home-based business,
developing an entrepreneurial mindset is crucial. Fortunately, you can
train yourself to do this; i.e., it doesn't have to be an innate
characteristic of your personality. You simply need to commit to its
development and promise yourself that you'll never give up, as it won't
happen overnight. For any entrepreneur who is running a successful
home-based business, you can be sure that it took time and patience to
get there and that the journey was fraught with trial and error. The
entrepreneurial mindset won't make you immune to challenges, but it <i>will</i> show you how to turn these challenges into short-cuts to success.</div>
<div style="text-align: justify;">
Generally
speaking, the entrepreneurial spirit comes in two different flavors-DIY
and KISS. DIY of course stands for Do-It-Yourself, and refers to the
entrepreneurial mindset that would rather build everything from scratch.
If you do this successfully-think Bill Gates or Steven Jobs here-you
can make a massive fortune. The sad reality is however that not everyone
has the same drive to succeed as Gates or Jobs. (We all have the same
potential for greatness-some of us just don't use it as effectively as
those guys did.)</div>
<div style="text-align: justify;">
The KISS approach (for Keep It Simple, Stupid) is
generally much more appropriate for those of us who don't want to
reinvent the wheel while trying to launch a successful home-based
business. With the KISS approach anyone with an entrepreneurial mindset
can look for and find a veritable business in a box that provides a
turnkey solution for a successful home-based business startup. Either
approach can work-the key is to find the one that works for you.</div>
</div>
<div style="text-align: justify;">
Former Scientist for 15 years, burnt out, changing career was a
MUST. A great educational and fully integrated internet marketing system
gave me the applied knowledge, trained me on the most efficient
internet marketing strategies. Passionnate, I immediately started
learning many different strategies, social networking, SEO, article
marketing, video marketing, PPC. I managed at the same time
international and local campaign for different projects with clients and
team members. In a few months, with this very system I transformed my
life dramatically. I have time for my family, money to enjoy life.
Internet is an incredible world of opportunities, of leverage for
everyone having entrepreneurial mindset. Now I share with others and
help entrepreneurs to start or improve their own business using powerful
internet marketing strategies.</div>
Purele Veragehttp://www.blogger.com/profile/00453707840017960588noreply@blogger.com1tag:blogger.com,1999:blog-674859804563759760.post-68396359645449566372013-07-28T02:30:00.000-07:002013-11-09T09:05:25.170-08:005 Entrepreneurial Skills That Will Make You More Influential and Successful<div style="text-align: justify;">
<strong>The Myth of Having Inborn Entrepreneurial Skills</strong></div>
<div style="text-align: justify;">
Most
people are under the impression that to be successful, the mentality,
attitude and the entrepreneurial skills are things that someone is born
with, but nothing could be further from the truth.</div>
<div style="text-align: justify;">
How would your
world change if you were able to influence those around you to do
whatever you wanted? How different would your life be if you reached
levels of success that you never thought possible just by tweaking your
mindset and actions?</div>
<div style="text-align: justify;">
You may not believe this, but did you know that there is no such thing as a natural born leader?</div>
<div style="text-align: justify;">
Know
what this means? This means that you are able to learn the mindset,
attitude and the entrepreneurial skills that successful people seem to
"magically" possess.</div>
<div style="text-align: justify;">
What separate's a leader from a follower is
that they made the decision to choose their own path, walk it, making
and sticking to their own decisions, and having an end goal in mind.</div>
<div style="text-align: justify;">
Sure
it takes a lot of practice, emotional growth, a few stumbles here and
there, but wouldn't living a life where you are in complete control
trounce the one where you are spent following a road someone else laid
out for you?</div>
<div style="text-align: justify;">
Now this may contradict what I just said, but for
every leader to be made, they first have to follow the right person (a
peer or role model if you will), learn to be an action taker, and have a
positive, enthusiastic outlook on things.</div>
<div style="text-align: justify;">
Once the person has
been conditioned well enough to possess confidence and strength of
character will they finally burst forth from their cocoon and venture
out into the world as a unique... butterfly (hmm that sounds a bit too
girly and cliché for my liking LOL).</div>
<div style="text-align: justify;">
Now from what I've seen from
the self made millionaires and entrepreneurs, they all have these 5
entrepreneurial skills in common that have helped them get to where they
are today.</div>
<div style="text-align: justify;">
<strong>The 5 Entrepreneurial Skills that Will Change Your Life... If you Let Them</strong></div>
<div style="text-align: justify;">
<strong>#1/ Self confidence:</strong></div>
<div style="text-align: justify;">
This
should be no surprise. Building your own enterprise is a risky
business, and those who believe in their own capabilities, and abilities
to get them out of the little (or sometimes not so little) snags are
the ones who flourish compared to the ones who doubt themselves
constantly.</div>
<div style="text-align: justify;">
So believing that you are smart enough, capable,
diligent, deserving and destined for greater things will no doubt take
you to exactly where you want to go, and beyond.</div>
<div style="text-align: justify;">
Once you have this skill down, the other entrepreneurial skills will follow suit more easily.</div>
<div style="text-align: justify;">
<strong>#2/ Being an action taker:</strong></div>
<div style="text-align: justify;">
For things to progress, you must do something.</div>
<div style="text-align: justify;">
Anything.</div>
<div style="text-align: justify;">
From something as small as buying a relevant ebook, to something as big as going all in financially for a business campaign.</div>
<div style="text-align: justify;">
Now I'm not saying to spend money recklessly. Far from it.</div>
<div style="text-align: justify;">
I'm
trying to say that you must be willing to invest in yourself, your
education, your marketing, and your business in general to succeed.</div>
<div style="text-align: justify;">
Being
stingy will only take you so far. So if you really want the lifestyle
and money that the top earners have, then you must get to work and be
willing to pay for the tools and systems required to get you there.</div>
<div style="text-align: justify;">
As Rob Fore puts it, "Being cheap will keep you broke!"</div>
<div style="text-align: justify;">
<strong>#3/ Accepting responsibility for yourself:</strong></div>
<div style="text-align: justify;">
It's
all too easy to play the blame game nowadays, so if you've heard of the
saying, "If you want to be rich, just do the opposite of what everyone
else is doing", then you're going to want to pay attention.</div>
<div style="text-align: justify;">
Out of all the entrepreneurial skills that I am listing here, this is the one that most people have a hard time swallowing.</div>
<div style="text-align: justify;">
The
difference between rich people and everyone else is that they take
complete responsibility for all the happenings in their life. This is
not to say that every bad thing that has happened in your life is your
fault, but it is your responsibility in how you react and handle the
situations that come your way.</div>
<div style="text-align: justify;">
Quite a kick in the spleen since I
resisted this one for awhile, but it's certainly made me open up my eyes
as to why I was unhappy for such a long time. If you blame others, that
means you believe you are not in control of your life.</div>
<div style="text-align: justify;">
Notice how
all the people who are broke like to complain and not do anything about
it? Be the opposite and stop complaining and get your butt into gear.</div>
<div style="text-align: justify;">
So
if you find yourself going nowhere with your business, look at what you
are doing first before you go blaming the marketing program, system or
company that you are with. More often than not, it's you either doing
the wrong things, or not being productive enough that is making you go
around in circles.</div>
<div style="text-align: justify;">
<strong>#4 / Having the ability to care for others:</strong></div>
<div style="text-align: justify;">
This
is one of the most crucial entrepreneurial skills that I am outlining
in this post so pay extra attention because there are so many selfish
marketers out there who only care about making money, and not enough
about their team.</div>
<div style="text-align: justify;">
You wonder why 97% of network marketers fail?</div>
<div style="text-align: justify;">
This is why.</div>
<div style="text-align: justify;">
Too
many selfish people caring about making a quick buck off of someone and
then vanishing into thin air... forever. Never to be heard from again.</div>
<div style="text-align: justify;">
I
happen to be friends with marketers in other people's teams who have
been left to fend for themselves in the overwhelming world that is
internet marketing. And even though they are not in my MLM company, or
any other business ventures of mine, I still help them as best as I can
when they need it.</div>
<div style="text-align: justify;">
Too often do people pitch endlessly about their opportunity and too little about offering value and helping people.</div>
<div style="text-align: justify;">
When
you take the time to help someone else, and actually show that you
care, you may be surprised that that person could become one of your
closest friends, or the star player in your team that will make you
hundreds and thousands of dollars.</div>
<div style="text-align: justify;">
I've talked to a few business
partners of mine who have had this happen to them (recruiting someone
who no one cared about and that person made them $100K+). So it could
happen to you too if you take the time to care.</div>
<div style="text-align: justify;">
<strong>#5/ An annoyingly, intense stubbornness to never give up:</strong></div>
<div style="text-align: justify;">
Before you roll your eyes and exclaim, "Oh man not this again. So cliche", there is a reason why I saved this for last.</div>
<div style="text-align: justify;">
All the entrepreneurial skills I listed will mean next to nothing if you leave this one out.
<br />It's the defining entrepreneurial skill that carries someone all the
way across the voyage from dead broke to financially independent.</div>
<div style="text-align: justify;">
I'm
not sure if it's society nowadays or not, but people are more lazy than
ever. Could be due to the increase in technology and how it's super
convenient (ironic how I'm leveraging technology to make me money xD)
that is making people forget what it really means to stick your neck out
and do some hard work.</div>
<div style="text-align: justify;">
And to prove my point, I'm going to bring up the 97% failure rate statistic again.
<br />I've heard a lot of, "Man this is so hard... I'm going back to my
job 'cause it's easier", that if I earned 5c for every time I've heard
it, I'd be quite well off.</div>
<div style="text-align: justify;">
Just because something is hard, does not mean that you give up, act like a complete wussy and settle for something less!</div>
<div style="text-align: justify;">
There
are so many successful network marketers like Mike Dillard, Ray Higdon,
David Wood, Jonathan Budd and more who have struggled for months, even
years to be able to make that insane residual income of $200K+ per month
living in multi-million dollar houses because they never gave up even
when failure slapped them in the face countless times.</div>
<div style="text-align: justify;">
If these guys can nurture these entrepreneurial skills so can you.
<br />So if you are thinking of giving up, do you really want to go back
to the 9-5 life? Or having to ask for someone's permission to take your
wife/husband or kids to a holiday?</div>
<div style="text-align: justify;">
<strong>How Can These Entrepreneurial Skills Help Me?</strong></div>
<div style="text-align: justify;">
Success comes to the people who have worked for it, deserve it, and who have paid their dues to earn it.</div>
<div style="text-align: justify;">
By
building these 5 entrepreneurial skills within yourself, you will find
that results will come easier, quicker and that people will be flocking
to you when you focus on helping and providing value.</div>
Purele Veragehttp://www.blogger.com/profile/00453707840017960588noreply@blogger.com0tag:blogger.com,1999:blog-674859804563759760.post-12416640183669908352013-07-05T09:04:00.000-07:002013-11-09T09:04:20.514-08:00Entrepreneurial Ideas - The Most Powerful Precise Way to Double Your Salary in 12 Months Or Less<div style="text-align: justify;">
The small business advice that wives give their husbands:</div>
<div style="text-align: justify;">
Did you know that today and everyday over 200,000 people are online right now as we speak looking for <i>entrepreneurial resources</i> or a way to start a new business from home?</div>
<div style="text-align: justify;">
Everybody is seeking entrepreneurial ideas from Holly the housewife to Frank the CEO no one's exempt.</div>
<div style="text-align: justify;">
<i>And
with the cancer that's sickening our economy leaving 2.6 million people
without jobs and anticipating 50 million more world wide,</i> even Joe the plumber could end up in the soup line if he don't join the entrepreneur club.</div>
<div style="text-align: justify;">
When was the last time our country has seen a time like this ...the great depression?
<br />Many people are hanging on by a thread to their cars, houses, and what's left of their skimpy 401 k's.</div>
<div style="text-align: justify;">
Business owners don't know what to do so they just close their doors forcing thousands more out of jobs almost weekly.</div>
<div style="text-align: justify;">
If
million dollar businesses are closing what makes me think a small
business start up is possible in a time of crisis... Is this the
question you're asking yourself?</div>
<div style="text-align: justify;">
Entrepreneurial Ideas: That Special Something that Inspires Every Successful Professional to start a new Business venture</div>
<div style="text-align: justify;">
Step
away from the problem for a minute. Everyone is thinking the Recession
is the problem. Let's examine some entrepreneurial ideas that require
some innovation and creative thinking skills. Could the Recession be the
solution to our economic problems?</div>
<div style="text-align: justify;">
Could this potentially be the perfect time for a low-cost start up business?</div>
<div style="text-align: justify;">
How
long could the average family afford costly houses some doubling after
60 days of ownership, $5.00 gas prices, the average car price $35,000,
and inflation rising into the hemisphere?</div>
<div style="text-align: justify;">
The Recession saves the
day for those that understand (and many do)... the trends and cycles of
economics which will set new records with ground-breaking
entrepreneurial ideas.</div>
<div style="text-align: justify;">
Learn 3 ways to out produce big business in a low-cost start up business</div>
<div style="text-align: justify;">
<blockquote>
These same 3 discoveries are what assist entrepreneurial success and small businesses to thrive:</blockquote>
</div>
<div style="text-align: justify;">
1.
Big business has lost control: we all know people that work for large
corporations or have witnessed first hand the slackers on their jobs...
their main objective is to come up with entrepreneurial ideas to try to
creatively manipulate "father time-clock".</div>
<div style="text-align: justify;">
Their sole purpose is
to see how innovative they can become to not work eight hours a day...
Then you have those human walkie talkie's... yep.... they don't do squat
all-day but talk ...I'm pretty sure those lost hours weren't calculated
into the business start-up cost. Can you believe the average employee
actually works less than 4 hours a day?</div>
<div style="text-align: justify;">
2. Big business many times
isn't fair: Why does it seem that the most qualified persons with the
best entrepreneurial ideas are NOT leading the team.</div>
<div style="text-align: justify;">
Many time
the most egotistical, narcissistic co-worker ends-up with the magical
position as the manager which kills entrepreneurial spirit, originality
and inspiration. Wouldn't it seem like any successful entrepreneur could
see that "John" is messing up big time so why is he still the manager?</div>
<div style="text-align: justify;">
"Why
not chose another manager"? Some big Businesses just don't get
it...encouraging entrepreneurial ideas will be critical in the new
economy because competition will force businesses to cut loose the dead
weight even if it's their best buddy.</div>
<div style="text-align: justify;">
3. Big Business comes with
big-risk: and the biggest risk is balancing between doing what's best
for the company or what's best for the stockholders. What most people
don't realize is that companies don't always do what's in the best
interest of their employees (shocking I know) but rather what's in the
interest of the stock holders.</div>
<div style="text-align: justify;">
And some of the greedy money
sucking, stock holders and CEO's have one goal and one goal only...
WIIFM (what's in it for me) to make as much money as humanly or
inhumanly possible, many times at the expense of thousands of others.</div>
<div style="text-align: justify;">
With
the aid of CNN news and the internet we don't have to elaborate on that
issue much ... E.g. $35,000.00 Toilets, private or corporate jets,
cooking the books, (accounting errors) Etc...</div>
<div style="text-align: justify;">
An old song is
playing in my head... "God bless a child that has his Own." And for
those that are metaphorically challenged that's simply means" God bless
the child that has her own home based small business'
<br />Well I've done my part. The statistics splattered all over the
nightly news and in the Local Newspaper don't scare Me. "Are you goanna
let 'em intimidate you"?</div>
<div style="text-align: justify;">
Will you put on your entrepreneurial thinking helmet and get in the game.</div>
<div style="text-align: justify;">
100,000
people (mostly traditional business owners and other professionals) are
thrilled about exercising their new found entrepreneurial ideas since
most big businesses are sinking faster than the titanic...</div>
<div style="text-align: justify;">
Imagine
not worrying or caring about the economy or about where your next meal
is coming from, who's going to watch the kids while you work 2 jobs or
will you even be employed next week, month or year.</div>
Purele Veragehttp://www.blogger.com/profile/00453707840017960588noreply@blogger.com0tag:blogger.com,1999:blog-674859804563759760.post-40952336522881072892013-07-01T09:02:00.000-07:002013-11-09T09:02:42.355-08:00Ten Attributes Of An Entrepreneurial Titan<div id="article-content" style="text-align: justify;">
<div style="text-align: justify;">
"Conviction is a belief you hold... and it holds you."
<br />Bobby Allison</div>
<div style="text-align: justify;">
Entrepreneurial titans envision dominating an
industry. Walt Disney, Howard Schultz, Bill Gates, both Watsons, Coco
Channel, Bill France, Sam Walton, and Henry Ford didn't just rise to
dominate their industry - they created or unalterably changed their
industries. Each suffered disappointment as fellow pioneers couldn't or
wouldn't share their vision. Each struggled for years against enormous
financial odds. Each remained steadfast, carefully putting in place one
block after another until everyone could finally see their castle in the
sky. Each endeavor eventually reached critical mass, exploding onto the
world scene with all the appearance of an overnight success christened
by luck. Each industrialist achieved their vision through audacity,
perseverance, and uncommon skill. None understood the enmity or envy of
those who declined to take the trip with them.</div>
<div style="text-align: justify;">
What each of these
entrepreneurs had in mind was something larger and grander than anyone
had previously imagined. They didn't want to merely win; they wanted to
elevate the game to a whole new level. The world is filled with
dreamers, but these people had a quality that went beyond dreaming: They
had the ego, skill, and determination to make their dreams a reality
for the rest of us.</div>
<div style="text-align: justify;">
Entrepreneurial Titans, independent of their
business, display a surprising consistency in character. We call these
characteristics the Ten Traits of Entrepreneurial Titans. As you examine
these extraordinary people, the similarities become striking. The
titans love what they do, constantly imagine taking their empires to a
higher elevation, communicate clearly, approach their business with a
marketing perspective, continuously improve their products and services,
stay in constant contact with every aspect of their business, think
strategically and act opportunistically, relentlessly pursue their
goals, take whatever risks are necessary, and surround themselves with
exceptionally talented people.</div>
<div style="text-align: justify;">
Since few of us will ever try to
reach their level of accomplishment, how valuable is it to study these
traits? Success in any endeavor requires the same attributes. It is not a
difference in kind, only in hue. The titans single-handedly change our
lives, but our economy is moved along more by the cumulative effect of
thousands of smaller successes. Understanding-and emulating-the traits
of the titans will help you dominate your small corner of the world.</div>
<div style="text-align: justify;">
The Ten Traits of Entrepreneurial Titans</div>
<div style="text-align: justify;">
1. Love of Aspiration</div>
<div style="text-align: justify;">
2. Uncommon and Unwavering Vision</div>
<div style="text-align: justify;">
3. Skilled Communicators</div>
<div style="text-align: justify;">
4. Market Focused</div>
<div style="text-align: justify;">
5. Product Obsessed</div>
<div style="text-align: justify;">
6. Always Engaged</div>
<div style="text-align: justify;">
7. Strategic, Tactical, Opportunistic</div>
<div style="text-align: justify;">
8. Driven and Tenacious</div>
<div style="text-align: justify;">
9. Risks Takers</div>
<div style="text-align: justify;">
10. Collectors of Bright and Talented People</div>
<div style="text-align: justify;">
1. LOVE OF ASPIRATION</div>
<div style="text-align: justify;">
Bill
France Sr. (NASCAR) started racing in high school, Steven Spielberg
operated a film camera for years before he was eligible to apply for a
drivers license, Bill Gates wrote his first program prior to the
invention of personal computers, Charles Barkley practiced jumping over a
backyard fence in junior high school, Walt Disney doodled as a doughboy
in World War I, and Warren Buffet bought his first stock at age eleven.
These examples became icons in stock car racing, film, computers,
basketball, family entertainment, and investing.</div>
<div style="text-align: justify;">
We could list
many more examples of people who started honing their skills extremely
young. An early start, however, has less to do with their success than
you might expect. The real secret is that they stayed with a profession
that claimed their heart, mind, and spirit. Entrepreneurial titans get
people excited about their vision. This is hard to accomplish if you're
not excited yourself. Think about it-all these people got rich doing
what they liked best in the world. They didn't go to work in the
morning; they went to play at their favorite pastime.</div>
<div style="text-align: justify;">
Jealous
people like to portray entrepreneurial titans as unhappy and obsessed.
This may be only half true. Obsessed people are happy only when they're
engaged in their obsession. By this measure, entrepreneurial titans are a
happy lot. The breed may be happy, but they are never satisfied despite
their accumulated accomplishments. Titans always feel compelled to
climb the next peak-one shrouded to everyone else by a misty haze.</div>
<div style="text-align: justify;">
Now
look at your own professional life. Are you excited when you wake and
disappointed when the day is done. If not, then ask yourself why you
originally chose your profession. Most of us found our jobs exciting
when everything was fresh. If you've gone stale, you need to find a way
to rekindle your enthusiasm. On the other hand, if you became trapped by
expediency, you may need to consider starting over. If you want to
emulate the titans, you must enjoy your work. We all have a secret
aspiration. If you have to drag yourself into work, then take your
secret aspiration out of the recesses of your mind and find a way to
make money doing what you love. No matter what it is-if you get
creative-you can have more fun and make more money.</div>
<div style="text-align: justify;">
2. UNCOMMON AND UNWAVERING VISION</div>
<div style="text-align: justify;">
Entrepreneurial
titans see things differently than the rest of us. Bill France and Walt
Disney believed that if they respectively built Daytona Speedway and
Disneyland, people would storm into their parks. Henry Ford saw the
automobile as a ordinary family appliance, not as a toy for the
well-to-do. When computers were the size of a small house, Bill Gates
foresaw a computer on every desktop. Coco Channel visualized simplicity
as elegance and style. Ted Turner perceived a ready audience for 24 hour
a day news. Entrepreneurial titans possess vision beyond the
commonplace and never waver from their view of the possible.</div>
<div style="text-align: justify;">
Their
vision tends to remain constant, but they continually elevate their
sights to a higher plane. Despite all his accomplishments, Walt Disney
never finished making his dreams come true. He pushed sound into
cartoons, made the first full-length animated movie against everyone's
advice, and built an amusement park that defied every convention of the
entertainment industry. Toward the end of his life, he left the confines
of fantasy with Epcot Center, intent on showing people how to build an
entire city. If Disney had lived long enough, perhaps he would have
reengineered the world.</div>
<div style="text-align: justify;">
Everyone has a passion. The trick is to
visualize how to take your passion to a new or enlarged market. Despite
the internet being around for decades, it took web browsers to make it
easy for everyone to traverse the information superhighway. The human
body always needed fuel, but Ray Kroc made fast food part of our
culture. Automotive tires remained static for years until the radial
came along to reenergize the industry. Thomas Jefferson, and the other
founding fathers, even visualized redesigning government for the new
world.</div>
<div style="text-align: justify;">
Entrepreneurial titans are not smarter than other people;
they merely spend more time thinking about how to change the dynamics of
their passion. They're individuals who consciously look at things from
different angles until they get a unique perspective. Although some
people seem to have a natural knack for visualization, this skill can be
further developed in anyone. It just takes practice. Take your passion
and question everything about it. Sooner-but probably later-you'll come
up with a twist or completely new concept that can propel your passion
into a livelihood.</div>
<div style="text-align: justify;">
3. SKILLED COMMUNICATORS</div>
<div style="text-align: justify;">
Unless you're an
artist or writer, it's unlikely you can single-handedly make your
vision come to life. When you need resources or skills beyond your
personal capability, you must convincingly communicate your vision to
others. People can't follow you unless they know where you're going.
Entrepreneurs communicate their vision and sell all the time. They sell
their vision, their ideas, their organizations, their products, and
themselves.</div>
<div style="text-align: justify;">
Characteristics of Good Communication</div>
<div style="text-align: justify;">
1) Clear and simple,
<br />2) repetitive,
<br />3) illustrative.</div>
<div style="text-align: justify;">
Entrepreneurial titans explain their ideas
and concepts until the uninitiated understand, they repeat their message
at every opportunity, and they use illustrative examples. Their intent
is to paint a picture in people's minds-a picture that people can see
and strive toward. The description is generally short, always clear, and
frequently presented as an allegory or metaphor. When Bill Gates first
started running around talking to everyone about a computer on every
desktop, computers for individuals were the province of introverted
hobbyists. Entrepreneurial titans may not hit on the best description
immediately, but they keep experimenting until they find the right words
and expressions to get the world to endorse their ideas-or at least
enough of the world to build their dream.</div>
<div style="text-align: justify;">
4. MARKET FOCUSED</div>
<div style="text-align: justify;">
Entrepreneurial
titans don't build edifices merely to massage their egos- they also
want the public to come in droves. These are not private dreams. To
attract customers, they think about their business from a marketing
perspective. They target a specific market segment, brand their product,
ceaselessly promote their wares, and use value pricing that baffles
their competitors.</div>
<div style="text-align: justify;">
Market Focused Titans</div>
<div style="text-align: justify;">
1. Target a Specific Market Segment
<br />2. Brand Products
<br />3. Promote Relentlessly
<br />4. Price for Value</div>
<div style="text-align: justify;">
Market Segmentation</div>
<div style="text-align: justify;">
Entrepreneurial
titans study the marketplace until they find a segment they can
dominate-then they focus on this segment until they own it. Walt Disney
stridently kept his enterprise focused on family entertainment. Howard
Schultz restricted the amount of food sold in Starbucks. Bill France
never ventured away from racing stockcars. McDonalds never branched into
fine dining. Coco Channel never endorsed a Sears line of clothing.
Penske stayed focused on transportation.</div>
<div style="text-align: justify;">
You seldom see a
scatter-gun approach from one of the entrepreneurial titans. They
constantly enlarge their customer base, but generally they accomplish
this objective by extending the boundaries of their existing market.</div>
<div style="text-align: justify;">
Branding</div>
<div style="text-align: justify;">
Penske
does not own race teams and blaze his name all over his products just
because he wants people to see his name. He understands the value of
branding a product. IBM, in its heyday, became so closely associated
with computers that the computer in the movie 2001 was named HAL, which
is IBM lowered by one letter in the alphabet. The Golden Arches are
synonymous with McDonalds. Ted Turner made CNN into a worldwide
recognized brand. Despite lots of other entries, Steve Jobs got the
world to view IPod as the only branded entry in the personal music
market.</div>
<div style="text-align: justify;">
Branding requires more than advertising and promotion. An
irrevocable law of the marketplace is that products must always be
consistent with the branded image. Imagine if Apple introduced a new
product with a clunky design. The product would not only flop, it would
shock and disappoint Apple enthusiasts-so much that it would probably
erode the market share of other Apple products. Imagine if Gucci came
out with products priced for the middle class. Oh wait, they did, and
Gucci is still struggling to regain the brand cachet.</div>
<div style="text-align: justify;">
Coco Channel
insisted that her designs could be identified on sight. When you went
to a Disney movie-at least when Walt was alive-you knew exactly what to
expect. Ray Kroc dictated that every McDonalds restaurant anywhere in
the world serve food to the exact same specifications. Auto Zone
operates over 1500 stores that look identical. Entrepreneurial titans
find a formula, brand it into the consciousness of the world, and then
strive to never harm their brand by misusing it.</div>
<div style="text-align: justify;">
Promote Products and Organization</div>
<div style="text-align: justify;">
Walt
Disney insisted that every part of his entertainment enterprise promote
every other part. The park promoted the movies, the films were used to
leverage the television program, and television promoted everything in
Walt's kingdom. You can see the same philosophy demonstrated in Penske
Enterprises, France's multiple endeavors, and Bill Gates software
strategy. Once momentum is established in one area, it is used to launch
product extensions or to support weaker areas. Entrepreneurial titans
sell and promote relentlessly.</div>
<div style="text-align: justify;">
Pricing</div>
<div style="text-align: justify;">
Walmart and Nordstrom
use different pricing models which correspond with their chosen market.
They both leverage their size, local market conditions, and customer
preferences to stock merchandise that represent a value to their
customers. Each department store appeals to a different economic
segment, but both chains have established pricing policies to insure
that customers feel like they got more for their money than if they
drove down the street to another store. Rendering value in exchange for
the customer's hard earned cash generates ever-increasing sales.</div>
<div style="text-align: justify;">
Entrepreneurial
titans exhibit an ever-present concern over pricing and value. Despite
the expense of Coco Channel's fashions, she made sure her customers felt
like they received a timeless design for their patronage. Henry Ford's
entire business was predicated on a new pricing model. Microsoft
consistently uses pricing as a competitive weapon. NASCAR allows each
track to independently negotiate their own television contract so
pricing stays consistent with the market appeal of a specific race. If
you aspire to emulate the entrepreneurial titans, you need to personally
involve yourself in pricing decisions so you can insure that you
maintain your customer base and they are so pleased with your value
equation that they help you lure new customers into the fold.</div>
<div style="text-align: justify;">
5. PRODUCT OBSESSED</div>
<div style="text-align: justify;">
Entrepreneurial
titans are distinguished by an obsession with their products or
services. Beyond enthusiastically extolling their products to everyone
within earshot, they involve themselves in every aspect of the product
life cycle. They love what they do and they love the products that come
from their passion. Entrepreneurial titans crave growth, and growth
requires producing something people want to buy. People who build
empires shun cost cutting, cash cow strategies because they find running
in place boring-and unacceptable. They don't chase after money, they
chase after empire, and money just follows.</div>
<div style="text-align: justify;">
Entrepreneurial titans
are characteristically innovators, not inventors. Inventors tend to be
inwardly focused with analytical minds, while the titans' vision comes
from being hyper-alert to the peopled world around them. Although titans
may not be inventive, they see markets for new technology that the
inventor never anticipated. They view products from the consumer's
perspective, constantly thinking up new ways to increase buyer appeal.
They change the scale of their products, innovate around the edges,
force new market segmentation, discover new applications for existing
technology, and rejuvenate mature products with new designs and
packaging.</div>
<div style="text-align: justify;">
Entrepreneurial titans constantly search for
ever-improving products. Disney's clean and tidy park, McDonalds'
exacting specifications for fries, Microsoft's relentless product
improvement, Walmart's use of computers, CNN's compulsion to be first in
news worldwide, and NASCAR's fan-friendly image all represent examples
of the titan's pursuit of exemplary products and services. The customer
is never to be disappointed.</div>
<div style="text-align: justify;">
6. ALWAYS ENGAGED</div>
<div style="text-align: justify;">
Entrepreneurial
titans stay engaged in every aspect of their business. Genuine titans
never put their companies on cruise control. In return, the titans
receive unflagging loyalty from their customer. From product
development, pricing, packaging, staffing, brick and mortar, strategy,
publicity, financing, and myriad other details, the titans tend to hold
tight reins. This doesn't mean they don't delegate, but they tend to
restrict subordinates' freedom until they demonstrate a consistent
application of the titan's vision.</div>
<div style="text-align: justify;">
Today, most people speak
reverently of Walt Disney, but a few ol' timers criticize his
omnipresent enforcement of his personal vision. Bill Gates is notorious
for digging into the intricate details of Microsoft's products. Henry
Ford intimately involved himself in both product design and production
processes. Bill France Sr. shared a fetish with Walt Disney for a neat
and tidy park.</div>
<div style="text-align: justify;">
Many titans invent shortcuts to keep a watchful eye
on everything. Disney required his animators to post their work outside
their offices. Then in the evening, after they went home, he would
wander around sticking colored-coded pins in work he either liked or
felt needed further development.</div>
<div style="text-align: justify;">
Entrepreneurial titans possess a
vision that is larger than they can deliver on their own. They must
employ people, so the titans spend the majority of their time tuning
other people's work so it stays consistent with their vision. Walt
Disney described his management style as being like a bee, flitting from
point to point pollinating ideas. People with a vision of their own
tend to learn the ropes from the titans, then move on to a venue where
they have more personal freedom of expression. Entrepreneurial titans
run entrepreneurial schools, where graduates frequently build related
businesses in close proximity to their mentors. In the long run,
however, entrepreneurs do not work for entrepreneurs.</div>
<div style="text-align: justify;">
7. STRATEGIC, TACTICAL, AND OPPORTUNISTIC</div>
<div style="text-align: justify;">
Entrepreneurial
titans think strategically. Their strategy tends to remain consistent
over a long period-frequently for their entire life. They know exactly
where they want to go and chart a course to get there. Because their
vision doesn't waver, their strategy can remain relatively constant. No
annual strategic planning exercises for them, the vision and strategy
are so imbued within their entire organization that they concentrate on
tactical plans.</div>
<div style="text-align: justify;">
The titans adjust their tactics depending on
competition, finances, the economy, and industry trends. Bill Gates
originally underestimated the importance of Internet technology, but
quickly redirected resources when his mistake became obvious. Despite
the reallocation of resources, his strategy of desktop dominance never
wavered. In fact, his strategic imperative of controlling the desktop
accelerated his awareness that a threat existed from another technology.
Once refocused, Microsoft used the same business strategy to vanquish
competitors in the browser wars. That is the advantage of a consistent,
well-thought-out strategy, the whole organization can change directions
in lock-step without detailed instructions.</div>
<div style="text-align: justify;">
The titans are
uniformly strategic and tactical, but their real secret is an ingrained
ability to seize opportunity. A strategic consistency educates everyone
in the organization so that when an unexpected opportunity arises,
people recognize and leverage it immediately. Entrepreneurial titans
understand that a clear vision and consistent strategy enable
opportunism.</div>
<div style="text-align: justify;">
8. DRIVEN AND TENACIOUS</div>
<div style="text-align: justify;">
Titans approach life
with a single-mindedness that scares mere mortals. These highly
goal-oriented people feel compelled to take their dream to the next
level and make it a reality. To accomplish any huge undertaking requires
endurance, tenacity and a strong force of will and will to achieve far
outweighs any other talent or asset. These are driven people.</div>
<div style="text-align: justify;">
We
may not share the strength of their compulsion, but we all understand
that our smaller dreams also require a concerted and sustained effort.
The lesson here is that if you don't really want it bad enough, luck
will seldom present it as a gift. You need to get out there and earn it
the ol' fashioned way. Henry Ford once said, "Nobody is proud of what
they intend to do."</div>
<div style="text-align: justify;">
9. RISK TAKERS</div>
<div style="text-align: justify;">
What separates dreamers
from doers is a willingness to take enormous risks. The titans always
retain supreme confidence in their vision, so even when they're unsure
about their abilities, this faith gives them the confidence to
repeatedly risk their accomplishments-to-date to reach for the next
plateau. Once you become content to ride your previous accomplishments,
growth stops, and entrepreneurial titans never stop. Nothing comes free,
and continued success requires assuming ever-increasing risk.</div>
<div style="text-align: justify;">
In
1988, General Motors wanted to rid itself of moribund Detroit Diesel.
Solomon Brothers couldn't find a buyer for an engine supplier that could
claim only a 3% market share. Desperate, GM finally cut a deal with
Roger Penske for $35 million. Penske quickly reversed the downward
spiral, cut costs, introduced new products, and established strategic
relationships with his other operations. By 1991, market share had
increased to 26%, sales doubled, and the number of hours-per-engine
dropped from 72 to 13. Penske sold 25% of Detroit Diesel to the public
in 1993 for $95 million, $60 million more than he paid for the entire
company. How did he do it? Penske says, "We took more risks."</div>
<div style="text-align: justify;">
An
ability to realistically appraise the potential reward against the
required risk separates the foolish from the astute businessperson. Bill
Gates worked in partnership with IBM until he calculated that the
potential rewards of going on alone compensated for the risk. Disney
felt comfortable with his repeated bet-your-company ventures because he
had a longer time horizon than his bankers. The titans take risks-but
their multi-dimensional thinking finds an edge that the more
conventional overlook.</div>
<div style="text-align: justify;">
10. COLLECT BRIGHT AND TALENTED PEOPLE</div>
<div style="text-align: justify;">
Talent
does not intimidate true leaders. They know they need highly capable
people with many different skills to build their dream. The
entrepreneurial titans recognize talent in an eye blink and immediately
pull these people into their organization. Smarter, more capable, and
experienced people give the titans a distinct advantage over their
average competitors.</div>
<div style="text-align: justify;">
NASCAR racing is a pure meritocracy.
Competition weeds out mediocre drivers, crew chiefs, pit and garage
mechanics, spotters, and general managers. People in racing carry this
competitive, merit philosophy into their business ventures-it's the
biggest single reason why so many racers succeed in business. Talk to a
racer about business and you'll soon discover that they employ the best
talent they can find, whether it's their own staff or professional
services. Racing has conditioned them to search for the best in any
field and pay commensurate with ability and dedication.</div>
<div style="text-align: justify;">
Microsoft
has been criticized for its policy of annually dismissing people whose
performance puts them in the bottom ten percent. Since Microsoft's
average skill level exceeds the industry, a low performing Microsoftie
probably would be a high performer in another company. Gates objective
is not to punish the bottom ten percent, but to make sure that Microsoft
doesn't get complacent and allow performance to drop closer to their
competition.</div>
<div style="text-align: justify;">
As you examine your staff, continuously work to raise
the average performance level. You can do this by making sure every new
hire exceeds the capability of your average performer. If you want to
build something great, you need a continuous upward spiral in
organizational performance.</div>
<div style="text-align: justify;">
PRACTICE THE TRAITS</div>
<div style="text-align: justify;">
Detractors
of the enormously successful often portray these same ten traits as
obsessive, dogmatic, glib, monopolistic, hypercritical, tyrannical,
lucky, stubborn, foolish, and as weak players who exploit the skills of
others. Taken to an extreme, this characterization might hold some
validity. But we are not talking about Al Capone or Adolf Hitler.
Entrepreneurial titans play by the rules. True, they continuously test
the perimeter, and may even venture a little over the line to probe the
limits, but the people we discussed in this chapter are competitive
creatures who want to win accolades as victors in a hard fought, honest
game. If you want to do something monumental, you cannot go about it the
same way as everyone else.</div>
<div style="text-align: justify;">
Review these ten traits and ask
yourself which ones you need to practice to hone your own skills. To
emulate the giants of industry, you need to break from the herd, commit
yourself to bringing your best to work every morning, and think
creatively. Dream big, challenge existing norms, investigate new
methods, leverage technology, and use existing channels to deliver
something fresh and useful. But stay in bounds.</div>
</div>
Purele Veragehttp://www.blogger.com/profile/00453707840017960588noreply@blogger.com0tag:blogger.com,1999:blog-674859804563759760.post-56156569983012374992013-06-20T09:03:00.000-07:002013-11-09T09:03:40.017-08:00How To Define Entrepreneurial Spirit<div id="article-content" style="text-align: justify;">
<div style="text-align: justify;">
The entrepreneurial spirit is often difficult to define let alone
examine in detail because of its perception as a highly creative and
dynamic entity and it is with this caveat that this article is written.</div>
<div style="text-align: justify;">
Whilst
the entrepreneurial spirit can be applied to a wide range of
disciplines and professionals it is perhaps most closely associated with
the world of business and incorrectly used to describe many successful
business people, when in fact very few individuals can truly demonstrate
an entrepreneurial spirit.</div>
<div style="text-align: justify;">
Historical Context of the meaning of entrepreneur</div>
<div style="text-align: justify;">
The
word itself is French in origin and if interpreted in its literal
context means "between jobs". It is interesting that a word that has
come to project the very pinnacle of success should have such mundane
roots as a means of describing being unemployed.</div>
<div style="text-align: justify;">
This article examines a number of concepts that appear intrinsic to what constitutes entrepreneurial spirit</div>
<div style="text-align: justify;">
<b>1. Uniqueness</b></div>
<div style="text-align: justify;">
In
a highly developed global business community where new ideas and
business models are increasingly in short supply the importance of
uniqueness cannot be under estimated and those exhibiting an
entrepreneurial spirit are often associated with concepts that
encapsulate originality and ingenuity. Take for example, Steve Jobs
bringing the Apple IPOD to the market,</div>
<div style="text-align: justify;">
<b>2. Creativity</b></div>
<div style="text-align: justify;">
Creativity
is heavily connected to uniqueness but the two are not identical.
Individuals with an entrepreneurial spirit are experienced at harnessing
the creative process to help them produce a unique product /service or
advantage. So where as uniqueness describes the end outcome, creativity
describes the process of how one achieves it. For this reason those with
an entrepreneurial spirit are often creative individuals who are ready,
willing and able to actively adopt new techniques to get ahead even at
the expense of being ridiculed by others.</div>
<div style="text-align: justify;">
<b>3. Risk Taking</b></div>
<div style="text-align: justify;">
In
a western society that is so often risk averse, those with
entrepreneurial spirit embrace risk taking and it is impossible for such
a concept not to be associated with entrepreneurs and the often high
risk potential involved in following a new cutting edge approach. It
must be observed however that risk is not the same as recklessness and
those demonstrating an entrepreneurial spirit are likely to be adept at
assessing the risks involved in any undertaking.</div>
<div style="text-align: justify;">
<b>4. Business Savy</b></div>
<div style="text-align: justify;">
As
highlighted previously those with entrepreneurial spirit should not be
considered as reckless mavericks indeed quite the opposite, good
entrepreneurs are motivated by profit and are skilled at identifying a
lucrative niche in the market that can be exploited for profit. Take for
example, Steve Jobs at Apple Computers who has successfully navigated a
profitable course in the computing and software industry despite the
market being dominated by Microsoft and IBM for a number of decades. In
addition he was the first to spot the potential of utilising the
computing industry to open a new market to the music fraternity , with
the introduction of the IPOD, the market leader in its business stream.
Such actions requires great skill and confidence and demonstrate a clear
entrepreneurial spirit.</div>
<div style="text-align: justify;">
<b>5. Developing Potential</b></div>
<div style="text-align: justify;">
Identifying,
Investing in and nurturing potential are also essential to the ideals
attached associated with entrepreneurial spirit because of the need to
find differing solutions to a business problem.</div>
<div style="text-align: justify;">
Established
businesses often fail to discover breakthroughs because they stick to a
rigid investment formula that has worked for them in the past rather
than finding new ways of moving forward.</div>
<div style="text-align: justify;">
<b>6. Adaptability</b></div>
<div style="text-align: justify;">
The
entrepreneurial spirit is always adaptable and ready to overcome
barriers presented by business problems and is usually quicker at
resolving those issues than mainstream business thinkers.</div>
<div style="text-align: justify;">
<b>7. Ultimately Destructive</b></div>
<div style="text-align: justify;">
Entrepreneurial
spirit is ultimately destructive to its own business in the medium term
unless those engaged in utilizing the concept recognize when it is time
to handover to mainstream management focussed individuals who can
maintain and develop the organisation. This is because true
entrepreneurial spirit is obsessed with constant creativity and change
which is unsettling to employees without good management and a clear
direction. Many of those demonstrating entrepreneurial spirit rarely
stay long term in any enterprise they undertake, take Richard Branson
for example who after launching numerous businesses under the "Virgin"
brand has subsequently sold on many of these to third parties at a huge
profit to himself.</div>
<div style="text-align: justify;">
<b>Summary</b></div>
<div style="text-align: justify;">
In conclusion whilst there
are certainly key characteristics which encapsulate the entrepreneurial
spirit it would be foolish to pretend that any one individual has all
those traits and even more foolish to believe that such a concept can be
comprehensively defined. It is also short sighted to believe that those
with entrepreneurial spirit are only evident in the business community,
indeed many different disciplines and vocations have historical and
existing individuals contained within them that could be essentially
described as entrepreneurs.</div>
<div style="text-align: justify;">
Well Known individuals exhibiting the
entrepreneurial spirit : Richard Branson, Clive Sinclair, Freddy Laker,
Steve Jobs, Bill Gates and Anita Roddick.</div>
<div style="text-align: justify;">
Words often used to
describe individuals with entrepreneurial spirit : Mavericks, Tycoons,
pathological liars, risk takers, self made business people, successful,
charismatic.</div>
</div>
Purele Veragehttp://www.blogger.com/profile/00453707840017960588noreply@blogger.com0