A must read for Entrepreneurs Part C

This is the last on this series which we started from part A, for more comprehension here are the 10 I's :

1. Industrious

2. Interconnected

3. Intrepid

4. Irreverent

5. Influential

6. Ingenious

7. Innovative

8. Improvisational

9. Indefatigable

10. Integrity

8. Improvisational

My 13-year-old son and I have a lot in common. We look alike, we talk alike, and—sometimes to my wife’s chagrin—behave alike. We also share a common penchant for comedy.

We rent DVDs of stand-up comics. Our favorite television show varies but can usually be found on Comedy Central.

Friends and family are amazed by our ability to recall the bits from old Saturday Night Live reruns.

As you’ve probably noticed, in the past few years a few shows have been built around improvisational comedy. In comedic circles, improvisation refers to unscripted ad-libbing where performers work in the moment, crafting comedy on the fly. Improv, as it’s called, is a natural ability that can be honed through experience. Entrepreneurs aren’t necessarily funny, but they, too, rely on a sharpened ability to be in the moment and react to ever-changing cues and directions.

Most growth entrepreneurs are able to react on the fly. They never lose sight of their ultimate goal, but the route to get there can appear to change without warning to employees and outside observers. Often, this can become a point of frustration for all concerned. Entrepreneurs want to keep all their options open for as long as they possibly can. What may appear as indecisive to some is, in reality, the growth leader keeping his or her ability to improvise in play.

9. Indefatigable

This section of the chapter started with the trait called industrious: hard work, elbow grease, keeping the nose to the grindstone, leading to accomplishment. Indefatigable refers to a more persevering characteristic. This isn’t a very well-known word, so here’s a definition:

In-de-FAT-i-ga-ble. Adj maintaining a purpose in spite of counter influences, opposition, or discouragement.You show me a successful small business growth leader, and invariably I can show you a comeback artist. Remember those inflatable punching bag toys some of us had as a kid? For me it was a red-nosed clown with a light head and heavy bottom.

No matter how hard you hit this clown, he would pop right back up. Oh, you could knock him down for a second, but he kept coming back for more. He was indefatigable. He could not be defeated. The only difference is that the clown had no brain. The indefatigable entrepreneur learns from being knocked down and is eventually able to avoid the punches (or develop a strong jaw anyway). Not all entrepreneurs have tasted bitter defeat. 

Most successful growth entrepreneurs have had a mouthful. For many, their success comes not from what they did during the good times, but how they reacted when they stood at the brink of disaster.

10. Integrity 

Over the years there have been many studies showing a high level of integrity by entrepreneurs in general. 

Given that these studies rely on self-reporting, I tend to put more faith in my own observations.When I look at successful entrepreneurs, I continually see that growth and integrity go hand in hand.

Feel free to ask questions on our comment box

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A must read for Entrepreneurs part B

A must read for Entrepreneurs part B

5. Influential

People often describe entrepreneurs as exhibiting high levels of leadership, but leadership means lots of different things to lots of different people, click to read part A, if you haven't done that

My grandfather Stirling was one of the most outstanding leaders you could ever hope to meet. The son of a Scottish coal miner, he began working in the coal mines himself at the age of 10. 

As a young adult, he found himself living in the time of the Great Depression, in rural America, with little more than his superior intellect and his dreams. 

Over the course of the next 40 years, Thomas Stirling went on to become a respected high school football coach and later principal of a large high school in Indianapolis, Indiana. At his funeral, hundreds of former players and students came to pay their respects. For so many of these people, the word leader meant Thomas Stirling.

However, I can assure you that my grandfather would have made a terrible entrepreneur.

What people are really referring to when they speak of leadership is an entrepreneur’s uncanny ability to influence others.

Most successful entrepreneurs I know are the “lead by example” type. Usually, leadership is not something entrepreneurs actively pursue. Instead, people just seem to follow them. I’ve heard this magnetism called everything from a cult of personality to a high-speed train that everyone wants to jump on. 

For the successful entrepreneur, this attraction is a natural by-product of the person’s vision, enthusiasm, and proven track record. When I have observed entrepreneurs who are struggling, they are often charging just as fervently up a hill but often look over their shoulder too late to find that

few, if any, have followed.

6. Ingenious

Ingenuity may be one of the most difficult qualities to describe but one of the most important for the successful growth entrepreneur to possess. Successful business owners are able to see patterns in data and events that most people cannot see. 

As a result, they recognize both clear opportunities and probable pitfalls long before the average businessperson. To them, growth opportunities look obvious.

When they describe it to others, it sounds ingenious. You can also describe this trait as being clever, inspired, or imaginative. Either way, nearly every growth leader has it to some extent.

7. Innovative

Ingenious and innovative might sound very similar, and I guess they are to a certain extent. Both rely on that creative spark that eludes so many others. 

However, there is a clear difference between the two: Ingenuity speaks to seeing opportunities, while innovative means acting on an opportunity in a wholly original way. In other words, for Ted Turner to see that a 24-hour news channel’s time had come was ingenious.

Turner’s decision to announce his intentions at a cable television convention in front of thousands before telling his staff was innovative. Having veteran newsman Daniel Schorr at his side was innovative. Hiring 100 recent journalism school graduates and bringing them to Atlanta for a

crash course in TV news production was innovative. See the difference?

The seven rules of growth presented in this book represent areas in which successful small business owners concentrate their efforts. In other words, it’s within these seven areas that growth entrepreneurs innovate. 

More and more, successful entrepreneurs find compelling ways to innovate in relatively mundane companies, industries, and market segments. Look at the current list of Inc. 500 winners, and you’ll find, for example,a surprising number of temp agencies, home builders, and restaurant chains alongside the high-tech product and service developers. Later in this book, you’re going to read about a commercial printer, a pet food manufacturer, and a candle supply cataloger.While their markets may sound ordinary, I think you’ll see that these companies are some of the most innovative out there.

The difference between failures and successful Entrepreneur is what they do with the knowledge at their disposal, knowledge is not just power but applied knowledge does, knowledge not applied will bring to not, act on the information your are getting from us, see you at the top. 

To be continued in part C

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A must read for Entrepreneurs part A

A must read for Entrepreneurs part A

If you really desire growth as a business owner this one is a must read for you, you are experiencing a mix results because you are not properly inform on what you should do and how you should go about it.

you can't call yourself an entrepreneur and you don't strive to improve your knowledge base. coined from the book  THE 7 IRREFUTABLE RULES OF SMALL BUSINESS GROWTH are the 10 I's you should know about growing your business as an entrepreneur.

In fact, there is no such thing as the perfect entrepreneur embodying all 10 of these qualities. Understand that each of the 10 I’s listed is both prevalent and important. Only you can determine how important and how prevalent they are for you and your business.

1. Industrious

I have yet to meet a successful growth entrepreneur who is afraid of hard work. That’s not to say that these same business all-stars are workaholics. In fact, the best growth leaders normally have very balanced lives. But when circumstances dictate, they have the intestinal fortitude to keep going as long as it takes.

The word industrious means hard working, but it also connotes getting something accomplished. I know many business owners who seem to be running in place. No one doubts their effort, but the results are in question. To me, industrious also means being diligent, vigorous, and committed. Entrepreneurs are task oriented, and they pursue their desired result with steely determination.

2. Interconnected

If you want to grow a business today, you can’t go it alone. The complexity of managing a rapidly growing firm has simply become too potentially overwhelming for an individual. Business owners need access to experts and problem solvers. By necessity, entrepreneurs are great networkers. Many entrepreneurs are introverts (shy, energized by ideas and impressions, preferring to work alone). However, the majority come across as extroverts (outgoing, energized by people and action, preferring to work in teams) to the outside world.

Regardless of an entrepreneur’s predisposition, he or she is able to balance introversion and extroversion to further the cause of the business. In this sense, entrepreneurs are like chameleons, able to change their color in varying environments. It has been my experience that they are not acting, but rather understand in their gut that to push the business forward, they have to press the flesh and be out there, visible and talkative. They do it because it has to be done.

Interconnected also refers to entrepreneurs’ tendency to flock together like birds of a feather. Organizations such as Young Entrepreneurs’ Organization (YEO), Young Presidents’ Organization (YPO), The Executive Committee (TEC), local and regional chambers of commerce, and industry

trade groups and associations are just a few of the ways business owners share everything from best practices to life lessons.

3. Intrepid

Historically, entrepreneurs have been seen as big risk-takers. Even today, I see and hear people describe a successful entrepreneur as having “rolled the dice” or “bet the ranch.” Frankly, the characterization simply isn’t true. Entrepreneurs may take more financial risk than other occupations, but business owners really don’t dwell on that. For them, the risk is a calculated one.

Most view their efforts as highly logical, not whimsical. They have experience, knowledge, and confidence on their side, not Lady Luck.

However, I can describe entrepreneurs as being intrepid, that is to say, daring and bold. They know there is risk and uncertainty in any economic endeavor, but they aren’t paralyzed by the thoughts of the downside. They see the risk as a challenge with a worthwhile reward. During a crisis, most successful entrepreneurs I know rise to a new level of courageousness.

4. Irreverent

As a professional speaker, I spend an inordinate amount of time at conferences, conventions, and business meetings. Invariably, that means lines—lines to get your badge, lines to check in at the hotel, lines to get your rubber chicken. But the worst line of all is the one for the taxi, especially when every attendee is trying to go to the same place at the same time.

Taxi queues at hotels, airports, and convention centers can be a nightmare. When I am speaking at an event where the majority of the attendees aren’t entrepreneurs, people line up like well-behaved grade schoolers. They hate standing in line as much as anybody, but they assume that someone must have a system and that eventually they’ll get a cab. When the meeting is dominated by entrepreneurs, however, everything changes.

To entrepreneurs, rules, systems, and policies are simply suggestions. It’s not that they think they are above the rules.

They really don’t. But they honestly assume that if there is a line, something is seriously wrong and thank goodness they are there to fix it for everybody. When there are only one or two entrepreneurs, that attitude can be quite helpful. When there are 300, it’s mayhem. I recently attended an event in Las Vegas.When the dinner hour arrived, no fewer than 50 well intention business owners were actively engaged in various attempts to completely redesign the for-hire transportation system of Las Vegas. 

It wasn’t impatience or hunger that activated their problem-solving juices. It was simply the fact that they saw something that didn’t work very well and honestly thought they had a better solution, given the 10 or 15 minutes they had studied the situation.

That’s what I mean by irreverent. Think of entrepreneurs as pleasant nonconformists. To them, rules aren’t made to be broken, but they are negotiable. Most business founders have a long history of questioning those in authority. If the entrepreneurs like the answers, respect will follow. 

Give what they perceive to be an inappropriate response, and continued challenges will ensue. If the truth be known, the title of this very book plays into this widespread entrepreneurial tendency. By telling a bunch of entrepreneurs something is irrefutable, I’m banking on the assumption that most of them will spend $20 just so they can refute it!

Does this sound like you?

To be continued in Part B, click to read part B

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The secret to Business Success Part 3

The secret to Business Success Part 3

ACT ON THE PLAN

most times plans are made but are not back by action, newton second law state that a body will continuously be at rest until it's acted upon by a force,  Newton third law also states that action and reaction are equal and opposite. 

you may have a nice idea backed by a wonderful plan failure to act on it will yield no results, many times i have discover that any situation will fail to do something about will just remain still until will act on it, taking action or making moves is a very important key in achieving success in business. 
during the early stage of our business start up will encounter challenges which we will be sharing in our subsequent  post, we got to a stage were we needed to act and solve some challenges, you can run from it because you must act in other to make things happen.

PASSION
you need to be passionate about the business you are doing or you about to start, any business you don't have passion for will fail, passion will always keep you going even in the face of challenges, don't venture into a business because someone else is into it, accept you have passion for that business.

when you have passion for the business you will enjoy doing the business and you will be happy with what you are doing. 

IDENTIFY YOUR MARKET

know your customers, identify the area you are needed, don't start a business just because people are around, if you identify a large number of people living within your targeted area is not enough for business success, try to identify the percentage of people who will need your product and how often will they need the product of service, is it what they will buy every day, once in 5 years figure out their needs.

with this understanding you can carry out your marketing and sales to your targeted customers.

BUILD TRUST

Good name is better than riches, ensure your customers can build up some trust on your product or services. don't just transact business just because you want to sale, every one can sale once but not every one can sale over and over to a particular customer, the trust they have on your business will make them differentiate you from others, will also make more sales for you. don't cut corners because ones your customer discover it they will be to run from your product. 

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The secret to Business success part 2

The secret to Business success part 2

from the last post which we started this post we will be running through part 2, in case you haven't read the previous part which is part 1 click to read part 1 another key factor we will be looking at is planning.

2. PLANNING

planning is a very important tool to implore in achieving success in business, having a great idea with out planning how to execute it, planning is getting the road map to followed to get things done, to achieve the desired success.

every business owner desire success in their business but not all get the desire success, this should make you to tighten your sit belt and be focus in this post, don't be discourage even when you have done things in the wrong way.planning need to be done carefully in other to infuse in your plan things that will trigger your success. 

during planning carryout research to know more about the business you are planning to venture into, every time there is failure to plan there is always failure at the end, don't joke with the planning process.
for instance having an idea on how to produce shoes from rubber material, the planning process starts from:

• How to get the raw material for producing the shoes

• The cheapest form of getting your raw material in other to reduce cost of production 

• The cost of your shoe

• The targeted customer

• The number of staff and salary

• How to get your finished product to your customers

with this brief explanations you will be able to draw a proper plan, with pen and paper you begin to pen down every step that you want to take in achieving results.

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The secret to business success Part 1

The secret to Business success Part 1

welcome on board, if probably you are a business owner or intending to venture into establishing a business you would not like to miss this for any reason.what do i need be successful in business? when its comes to business operation every step taking towards making the business successful must be taking serious, the working principles to business success must be followed carefully.

i have seen people with a lot of  investment they still achieve failure, i have also seen people with little investment build the best business empire, don't give up in case you are among the first category i mentioned, we are here to ensure you excel and achieve the business in your business and carrier, get this straight that when it comes success in business is not something you just achieve ones and then you just sit back and begin to celebrate, No, you need to continuously apply the steps that gave you that success and continue to replicate it over and over again, this is called the repeatability.

Keys to achieving success in Business

1. IDEA
This is where the success of a business start from, your business must start with an idea, not just an idea but a great and workable idea, some idea can't produce results, to know if your idea is good or not, ask yourself if it can solve a problem, the greater the problem you idea can solve the greater the reward.

make your idea so strong that it can out shine your competitors making it a clear for your customers to know the difference between you and your competitors.do a great job in evaluating your idea helps to keep you in the right direction of making success, many people are running their business because the saw some else running it with out innovating new idea into it.

there is a saying that ideas rule the world, it's correct because every thing you see in the world today started with an idea.

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