Sep 27 2015

DAY 15 – 30 Days To The New Economy

Your Role In History As An Entrepreneur

K N O W L E D G E

 

Adapted from the book 30 DAYS TO THE NEW ECONOMY written and published by Peggy Salvatore

Always Seek Knowledge Acronym

Knowledge, confidence and a sense of adventure are the entrepreneurial trifecta. One or two makes someone a great employee but a successful entrepreneur needs all three.

 

 

Imagine confidence and a sense of adventure without knowledge – you have a risk taker who has no context and who won’t win the respect of employees and customers. There is a place in your startup for this person – perhaps cleaning windows on the 100th floor – but not at the helm.

What about knowledge and confidence without a sense of adventure – you have a good researcher and expert who won’t step out of her or his comfort zone. There is a place in your organization for this person in the lab, but not at the helm.

Imagine knowledge and a sense of adventure without confidence – you have a risk taker who will step out but is unable to follow through. There is a place for this person in your startup, perhaps as the pitch person, but not at the helm.

IMAGINE possibilities

An entrepreneur in the New Economy enters the global marketplace with a certain set of knowledge and skills to support his or her confidence and sense of adventure. That knowledge is the ticket to entry in the global entrepreneurial sweepstakes.

A successful entrepreneur in the New Economy has a learning mindset because the environment is always in motion. Remember our discussion earlier about the pace of knowledge and the rapid acquisition of data: 90% of what we know we have learned in the last two years.

What Internet Joe knows may have been true yesterday. However, with the rapid expanse of knowledge and data collection, that truth may be different today. In fact, if you are starting a new business, there is a pretty good chance you can assume you are operating with outdated information even as you develop your products and services.

In a fully interconnected, 24/7 marketplace,

knowledge isn’t static. It’s fluid.

And it includes knowing your SELF.

wise old owl

A business in the New Economy is a learning organization and that requires a learning CEO. The leader sets the example. There is an old saying that “leaders are readers.” More accurately, leaders are learners. As situations materialize and unfold, leaders can process what is happening and adjust their product, service or approach based on constantly changing data.

The world is always in beta and successful entrepreneurs practice agility. Think permanent beta and constant learning, and you have the essence of knowledge in the New Economy.

 

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C’mon back TOMORROW 9/29 for Day 16.
ARE  YOU cut out to be a leader or a manager?

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S P E C I A L    A N N O U N C E M E N T

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With Hal and Peggy’s wealth of business coaching experience, you’ll learn how YOU match up with what successful entrepreneurs are thinking and doing RIGHT NOW. Get ideas you never imagined. Gain the traction you need within 2 hours — not days or weeks or months. Simply call 931.854.0474 Central Time: 11AM to 4PM Monday-Friday for details, to explain your business pursuit focus and to reserve your seat! $99 total for 2 hours. Satisfaction Guaranteed.

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For more information on Peggy Salvatore’s book: 30 Days to the New Economy [© Peggy Salvatore 2015. All Rights Reserved.] click on ENTREPRENEUR NEWS or visit ow.ly/RysnP for the E-book

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Hal@Businessworks.US      Peggy@Businessworks.US

Open Minds Open Doors

Thanks for your visit and make today a GREAT day for someone!

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Jun 11 2009

CREATIVE IDEAS VS. INNOVATIVE IDEAS

“Put your money

                                            

where your mouth is!”

 

Y’know what? Even the last traffic cone placement person you passed has good, solid, creative ideas. Tell the people who work for you that you don’t want any more good, solid, creative ideas.

Tell them they’re wasting their time, and yours, with all the suggestions about what should be done and who could do what and what would be best. Tell them to shut it down. Finis!

After they all stop gasping, tell them what you really want from them are innovative ideas, the kinds that entrepreneurial minds thrive on.

Explain that you don’t want to hear about the need to launch a new product or service. Be specific in telling your people that you want instead to hear about HOW to launch a new product or service.

Give them some guidelines. Let them know that you will be interested in and very appreciative of ideas that come to you that are fully supported with answers to questions like those that follow.

  • You want to know the unique customer benefits of the new product or service.
  • You want to know how and when the new product or service will be planned and created or manufactured or produced.
  • You want to know how and when and where it will be distributed.
  • You want to know how and when and where it will be sold, and by whom, and for what price and on what kind of sales compensation arrangement.
  • You want to know how the new product or service will be marketed and when and by whom and how and where and at what cost and via what media?
  • You want to see research studies and findings that support the answers to all these questions.

You want a business plan. It need not be fancy or formal. It doesn’t have to be filled with all the imaginary exaggerations about revenue projections that are typically waved in front of banks and investors, but it should include some realistic, conservative estimates of what might constitute total revenues and expenses for the first three years.

Golly Gee, that’s a lot of work!” your people might proclaim. Tell them: “Welcome to the real world” and point out that only by thinking in innovative terms (taking an idea all the way through from beginning to end, and having all the answers that support the pursuit) will people come up with the big winner products and services.

     Being able to have all the answers (and more) to the questions highlighted above, will put your people a few notches up on the competition and well on the way to proving the value of what they believe in. If someone says to you, “Ah, it’s kind of like putting your money where your mouth is?” Your answer is:  Yup!

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 Hal@TheWriterWorks.com

Thanks for visiting. Go for your goals!

Make today a GREAT day for someone!

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