Tag Archives: Entrepreneurship

Success’ Trajectory

20 May

What success looks like

I want to live and work here…

9 May

Advice for Entrepreneurs from Richard Branson

16 Jan

Since Branson founded Virgin in 1970, the company has grown from a small record outlet to a global powerhouse. Can the brand continue its success without him?

Leaders Should Run Their Businesses Like An Orchestra

14 Aug

Today’s advice comes from John Caplan, CEO of OpenSky, via Inc.:

“Leadership is different than entrepreneurship. Entrepreneurship is passion, vigor, naive hope. But leadership is actually about empowering other people to unlock their potential.”

According to Caplan, when it comes to leadership, entrepreneurs should be like music conductors. The conductor’s back is always facing the audience, but they play the most important role in the group by leading the orchestra in making music. The symphony makes the show, but they are always led by a conductor. Entrepreneurs should operate similarly, by bringing their employees together to make a team that works harmoniously together.

“That’s the role of being a great leader. Being able to help other people make the music that builds the business that you’re creating.”

The Difference Between An Idea And An Opportunity

12 Jul

Today’s advice comes from Tim Westergren, founder of Pandora, via Fast Company:

“The difference between an idea and an opportunity is what really defines entrepreneurship. I think entrepreneurs are people who are gamed to jump in and see if there’s a connection, if an idea is indeed an opportunity.”

According to Westergren, an opportunity is the result of a good idea and entrepreneurs that go after ideas they strongly believe in are likely to create their own opportunities.

The difference between opportunity and an idea is execution and action; you merely think of ideas, but you take opportunities. Understanding the difference is vital for success, in business and in life.

“It’s also true that some of the greatest opportunities were ideas that at the time didn’t really seem like good ideas. And I think entrepreneurs are the folks who are willing to take a chance and find out.”

Entrepreneur? Get Sales experience.

10 Apr

It doesn’t matter what industry you’re in. This is the one thing all successful people know how to do well.

“If you think of “selling” as explaining the logic and benefits of a decision, then everyone—business owner or not—needs sales skills: To convince others an idea makes sense, to show bosses or investors how a project or business will generate a return, to help employees understand the benefits of a new process, etc.”

In reality, being an entrepreneur is like being a full-time salesperson. But instead of simply selling a product or idea you’re selling your business as a whole.

That’s why Haden says that more than 20 business owners and CEOs told him that sales skills are one of the most invaluable skills you can gain if you want to succeed in the business world.

  • You’ll learn to negotiate.

  • You’ll learn to close.

  • You’ll learn persistence.

  • You’ll learn self-discipline.

  • You’ll gain self-confidence.

“So if you’re a would-be entrepreneur, set aside your business plan and work in sales for a year or two,” he said. “If you’re a struggling entrepreneur, take a part-time sales job. Part of the reason you’re struggling is likely due to poor sales skills.”

Today’s advice comes from Jeff Haden’s column at Inc.

Bing Gordon on Entrepreneurship

30 Jan

Today’s advice comes from Kleiner Perkins’ Bing Gordon’s interview with Canadian Business:

“I’ve found that entrepreneurs, unlike smart people, get focused on working with whatever they have at hand and doing one important thing at a time. Smart people tend to enjoy thinking about a lot of things at once.”

Perhaps all entrepreneurs are smart people, but not all smart people are entrepreneurs. In order to properly manage a company, an entrepreneur should be able to listen to really complicated matters and focus on the one detail that the company actually needs. They need to be able to say, “We’re going to do this one and we’re only going to do this one.”

Furthermore, they need to be able to get everyone else on board with this narrow strategy as well. Otherwise, the company will be chasing many different prospects without making any real progress. Prioritizing is a much-needed skill set in entrepreneurs.

Gordon is an executive in the video game industry and was the co-founder of video game publisher and developer Electronic Arts (EA) before becoming a partner at Kleiner Perkins Caufield & Byers (KPCB), the world’s largest venture capital firm. He has worked with Audible.com, Amazon, Ngmoco, and Zynga.

“Entrepreneurs should be serial monogamists; do one thing at a time until you make sufficient progress and then move on.”

Credit: Business Insider Instant MBA

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