How can you, as a small business owner, figure out what you are and, from there, begin to take action? Simple - you have to understand what part of the job you are doing and, if it isn't fulfilling the role of the entrepreneur in your business, you must make the decision to take on that role.
— Michael Gerber
If you are planning to start a business, and if you want that business to have a hope of succeeding, be sure you are approaching your venture from a true Entrepreneurial Perspective.
Entrepreneurship requires an unvanquished spirit of curiosity, an openness to learning, a letting go of OldCo so you're free to create NewCo.
As the owner, you have to look into the mind of the customer and see and feel how their relationship to your product works - not just that the product works.
The Big Dream of any entrepreneur really has very little to do with the entrepreneur. If you truly love repairing automobiles, chances are, you'll be a lousy business owner. Likewise, if you are fascinated by debits and credits, the dream of building an accounting firm with you at the helm is probably best left unfulfilled.
The more Strategic Work you do, the more effective, productive, and joyful the Tactical Work becomes.
More than a few studies have shown that the five people you spend the most time with represent you - so you need to decide - who do you want to be?
Your first job, as an owner and an entrepreneur, has to be to understand how the business is going to actually work.
Understand this - as a new company, if you don't know how to get interested prospects into your company, then you don't have a company. At the same time, if you, as a owner, have to drive every lead into your business, then you need a real lead generation strategy.
The world of the small business owner is all about moving multiple items forward at once, and it's a fool's errand to believe one person can do it all when the shift comes from linear to parallel.
Your success has to be measured against yourself - a decade ago, last year, or yesterday.
Everywhere you turn, there are lists and statistics. Any business, any sport, any hobby - we will try to categorize who is the best at some component of that endeavor. It's part human nature and part technology, since we have been conditioned to have access to answers and trivial problems at our fingertips.
I'm not here to tell you what your average needs to be, but it would seem to me that one way to protect yourself, as an entrepreneur, from the dreaded average is to understand what that looks like in your industry, your business, and your personal life and take the steps to be above average.
If you haven't created the time as an owner to understand why people are choosing your model over your competition, then you are only managing the business that comes in the door, not actively seeking it out.
The Internet is fundamentally free, and when faced with the decision to use something free, we, as humans, always seek to grab all we can.
If there is one thing that offers challenges to small companies as they start to grow and expand, it is the hiring process... every single area. The issues that can arise run the full spectrum, from 'finding good help' to that ubiquitous catch-all 'training' and everything in between.
The greatest business people I've met are determined to get it right no matter what the cost.
Being an entrepreneur is more than a matter of simply starting a business.
Most people who go into business for themselves and, therefore, believe they are entrepreneurs, are doomed to struggle because they don't have a true Entrepreneurial Perspective. They have a Technician's Perspective.
When I say, 'doin' it, doin' it, doin' it' to a group of small business owners, they immediately respond. They recognize the experience of doing the same things over and over. Keeping the business afloat without ever getting ahead. And it's more than frustrating - it's heartbreaking.
Empirical and observational data along with a healthy dash of intuition often have to be combined as business owners begin to look outward, not inward, at what solutions they can provide to their customers.
Tactical Work is the work you do every day in your business to generate income, along with all of the operational, financial, and management tasks that entails.
The kind of work you do, when you do it, how much of it there is, and who you delegate it to are often the cause of the quasi-schizophrenic behavior seen in many business owners and entrepreneurs.
Steve Jobs didn't seek solace among minimum wage workers. He sought it from highly educated men and women who understood and shared his focus on growth, technology, and company-building.
Your success starts with how you are able to get clients in the door, get their business, and leave them satisfied. If you, personally, have to spend too much time doing that, you have simply bought yourself a job, not an enterprise. Take hints from success stories all around you!
'Product life' is measured in months, not years, and as soon as you introduce a 'product,' understand that others in your business are going to reverse engineer it to duplicate the results after they circumnavigate the patents, the trademarks, and the intellectual property.
No matter what, once the doors are open for business, the entrepreneur has no choice but to be directing multiple attacks at once - raising money, writing software, prototyping, selling, collecting, training, and marketing.
You cannot build a company or manage a life by chasing others; you have to find your success competing against yourself. There will always be a bigger fish.
No matter what, the entrepreneur must strive to be above average and, at the same time, understand what is driving those averages they are seeking to beat. Take the time to understand and test the metrics you are using, and then you can not only set the average, you can exceed it.
Every life a legacy, every small business a school.
It is one thing to seek out new ways to grow your company and new potential streams of income from new services or products, but it is quite another to take on responsibilities that are far from your primary job as Entrepreneur.
The world is littered with the tales of small businesses in the dire straits of hiring that spent time and money they couldn't afford to hire people who couldn't perform.
Be honest: if your pitch is 90 minutes and you only have 60 set aside for a business lunch or a cup of coffee, there is no way that you can give an honest representation of your company or products. You're lying to yourself and wasting your own time as well as that of your prospect or partner.
Most entrepreneurs are merely technicians with an entrepreneurial seizure. Most entrepreneurs fail because you are working IN your business rather than ON your business.
The Entrepreneurial Perspective is absolutely necessary for the creation of a great, growing business.
A true entrepreneurial enterprise begins with a big idea - a unique way to solve a customer's problem. Your customer, after all, is the only justification for creating a company in the first place. Without a big, transformational idea, you can't produce a great result for your customer.
Unlike what most people think, entrepreneurs are not special people who know how to do special things that others don't. Entrepreneurs can be made, because we're all born with the potential - that special human quality - to create.
Nobody knew they needed a smart phone, an automobile, or even a cheeseburger from a drive through window.
Strategic Work is all about the big questions: Who? What? When? Where? Why? Tactical Work is all about answers: This is the system we use to do each task. This is how we do it, how we measure it, how we monitor it.
If you are with five successful people, then you are the sixth successful person. The reverse of this is true as well, so who are you hanging out with?
McDonalds. Apple. Starbucks. They were all small businesses, owned by entrepreneurs and people with vision.
If you make converting a lead into a sale harder than a trip to the local DMV, then you lose sales to someone else - with an inferior product - who can make it painless. Don't do that!
If you ever hope to get ahead as an entrepreneur, the answer is not becoming an effective juggler, but in understanding and designing the systems to keep your team, not you, busy, busy, busy.
One of the biggest challenges we have, as business owners and people, is that we think in linear terms.
There is always going to be someone more successful, richer, better looking, or with a nicer car.
Look at what is average in your area, your industry, and your company and then be better. That could be as simple as reading another book each month or attending a seminar each year. On the other hand, it also means acknowledging what 'average' actually is and how you, as the owner, arrive at that figure.
Quit being 'busy' and start actively owning and operating your company, and you'll be able to understand where the money is coming from and how to make more of it.
The challenge of any business owner is not only to keep the saw sharp, but also to know if you even have a need for such a tool.
No matter how you hire, ensuring the systems are in place to manage the process will be critical in allowing you to find the right people to carry the standards you set. Don't neglect that duty!
Most people view coffee and lunch as personal time, not deal-making time. Unless the person you're meeting understands that this is a working lunch, then they may not even think that this is a serious business conversation.
