Your Role In History As An Entrepreneur

A D V E N T U R E S O M E N E S S

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

Entrepreneurship is not for the faint of heart. Actually, leadership of any sort is not for the weak-kneed, and taking this trip into the new frontier requires stamina and hard work. Risk-taking is at the core of starting a business and putting your time, resources and reputation on the line. To move forward taking resources and reputation along for the ride certainly requires an adventuresome spirit.

A Master Key to successful business

is to take calculated risks.

Taking calculated (reasonable) risks means both your experience and your instincts kick in when you make a decision. Like Indiana Jones when he stepped off the cliff into thin air, entrepreneurs have an instinct–a sixth sense–that when they take that footstep into the sky, a footbridge will appear.

Internet Joe [See DAY 5, DAY 6, and DAY 9 in this series of posts] understands the difference between adventuresomeness and foolhardiness.

He is adventurous. He is willing to spend enormous amounts of time and money (often investor money) to initiate and implement his creative vision. He is building a business and making promises to customers that he will be there to deliver on his promises. He is also promising employees they can count on him and that it is safe to bet some of their life and livelihood participating in his vision.

Internet Joe is not careless, though.

He is backed by a good (though probably not “formal”) business plan . . . it may just be scribbled on the back of an envelope! But he will for sure have at least a professional grounding in what he is doing.

As I mentioned earlier in this blog-adaption series, Internet Joe probably landed on his own after a stint at a major corporation. He has a finely-honed sense of quality and what it takes to build his vision. The adventure is taking on both planned and unforeseen opportunities to execute it in a whole new way — serve new markets, create products and services, and uncover new revenue streams where none existed.

If he has venture capital or crowdsourced income, people have already vetted his credentials. So the risk may have a stronger likelihood of an upside for investors than backing a relative unknown venture or creator, but working with other people’s money invested because they believe in someone or the idea puts stress on entrepreneur shoulders.

Regardless of whether a venture is investor-backed or self-funded, it is critical to regularly step back from the idea workbench to execute good judgment and seek the advice of close associates moving forward. Successful business development always reduces itself to being an authentic boss!

In either case, at the core, Internet Joe is taking some risk. Many ventures are well-vetted by professional investors, many people build businesses based on solid skills, and yet the annals of business are littered with failures within the first two years. More than half fail in the first five years according to the Bureau of Labor Statistics . . . and this is likely understated.

Soooooooo, “The Force” may “be with you,” but the odds are not, and your success is clearly not guaranteed . . . at least the first time around.

BEST BET: Pepper your adventuresomeness with

calculated, educated, realistic, well-advised

moves to increase your chances for success.

But don’t let all that practical good sense dampen your adventuresome spirit. Hey! Who knows where you’ll end up?

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C’mon back TOMORROW 9/25 for Day 14 —

ARE YOU CONFIDENT ENOUGH TO MAKE IT ALL WORK?

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SPECIAL ANNOUNCEMENT

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Get fresh, informed, proven insights geared specifically to your business market, your biggest problems, your biggest opportunities.

With Hal and Peggy’s wealth of business coaching experience, you’ll learn what successful entrepreneurs need to be thinking and doing NOW. Simply call 931.854.0474 Central Time: 11AM to 4PM Monday-Friday for details and to reserve your seat!

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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!

Too Much Spice In

Your Business

Can Cause It

To Drown.

Those who use lots of salt get thirsty. The solution of course is water. A glass or two is fine, but a tsunami inside your body or your business can be even worse that one that ravages the outside.

At least crashing waves and a flood outside your body or business allows the remote possibility of escape by swimming or clinging to a floatation device. Other than the limits of an Intensive Care Unit, there is no controlling an implosion! 

Every day, small businesses and entrepreneurial business leaders across America struggle to keep afloat — victims of government indifference, government interference, corporate giant market dominance, and aggressive competition– external tsunamis.

Internal storms are marked by under-capitalization, poor management, unproductive marketing, and over-stress. As insurmountable as these may seem to some, reality is that these at least offer the consolation that they can be controlled by choice.

Business failures

are often the result

of poor decisions

to add too much salt

Spicing up a product or service message or method of presentation instead of adding genuine value spawns ineffective, low-trust levels of reception.

The addition of meaningless razzmatazz threatens existing employee, customer, supplier, referrer and investor relations at a point where increased levels of high-trust transparency are what the marketplace is calling for.

Successful businesses and entrepreneurial leaders never sacrifice integrity for a spice rack full of new flavors and meaningless window dressing.

“Instant” hair care products that are simply water-added (and incrementally-more-expensive) versions of the original basic product, don’t even deserve retail store shelf facings. They are packaged lies aimed at prompting naive young women to spend money!

Oh, and how many fewer screaming automotive dealerships can we do without? Surely, you have many examples of your own you can add. Hopefully, your business is not one of them. 

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302.933.0116   Hal@BusinessWorks.US

Thanks for visiting. Go for your goals! God Bless You.

“The price of freedom is eternal vigilance!” [Thomas Jefferson]

Make today a GREAT day for someone!