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In my role as mentor to many of you aspiring entrepreneurs, I often find you convinced that all you need to start is a unique innovation or idea , and now you are ready to jump in with both feet and enjoy the ride. Enlist a mentor and advisor who is not a ‘yes’ person. Find your level of passion early.
Freelancers and consultants have to demonstrate results, without training and mentoring, so they can help you more quickly and probably at a lower total cost. Higher worker engagement and satisfaction. Prioritize demonstrated execution versus potential. Career hiring has traditionally focused on potential, but you need results now.
Similarly, it will be very satisfying to see the productivity increases from your leadership and mentoring. New business models that provide an ongoing revenue stream, or a secondary stream from advertising, raise your margins and can give you some additional satisfaction. Watch that patent provide a real barrier to competitive entry.
In this context, even “satisfied” is only a “meets-minimum,” and does not put you ahead of your competition. With pervasive access to social media, customers no longer differentiate poor product repair and replacement from a poor shopping experience or customer usage satisfaction. This results in more profits and growth for you.
Due in large part to the current economy and an ultra-competitive job market, a Gen-Y entrepreneurial tsunami is already upon us. For a startup or small business executive serving as mentor, the proverbial “win-win” is created as they benefit from an injection of essential bandwidth, youthful energy, and technical expertise.
Utilize outside expertise and mentoring. No matter how much energy, experience, and passion you have, there is always more you can learn from an Advisory Board of external experts or a mentor. Track competition to stay ahead of copycats. Track competition to stay ahead of copycats.
As a long-time business advisor and mentor to entrepreneurs, I consistently find that the most thriving businesses are people-centric, and those team members create the best processes, rather than the other way around. People-centric leaders realize that the right motivated and accountable people are their real competitive advantage.
As a mentor, I’m regularly frustrated by people who try to cover their lack of confidence with ego and arrogance , rather than working on the base issue. Show that others are an inspiration, not competition. Confidence and self-esteem are critical to your success as an entrepreneur, or any business role.
Similarly, it will be very satisfying to see the productivity increases from your leadership and mentoring. New business models that provide an ongoing revenue stream, or a secondary stream from advertising, raise your margins and can give you some additional satisfaction. Watch that patent provide a real barrier to competitive entry.
Ironically, as a startup investor and mentor, I have seen too many failures caused by just the opposite – too much money spent too soon, taking time to get product perfection, and assuming customers will wait. How entrepreneurs respond to these will become a larger and larger determinant of startup growth, competitive position, and success.
In my own experience as a startup advisor and mentor, I find that entrepreneurs who can’t attract and maintain a highly motivated team rarely even get off the ground. Good hiring, training, and mentoring are the best motivators. If you can do it, motivation can easily be your biggest competitive advantage. Start today.
The most effective leaders marshal existing resources and incent people to create innovative yet competitive solutions. True leaders don’t let their ego or competitive nature create a façade. That means accepting coaching and seeking mentoring, as well as giving it. Create innovative change from existing resources.
Unfortunately, these goals are often mutually exclusive, and focusing on the wrong ones won’t bring you that business success and satisfaction you crave. For example, Richard Branson relishes the satisfaction of initiating innovative startups, and rewarding strong team members with the opportunity to run a joint spinoff.
In my role as mentor to business professionals, I often get the question about your potential of going out on your own as an entrepreneur, versus your current role of working for a boss at an established company. If you enjoy wearing many different hats and are constantly learning new skills, you will get more satisfaction as an entrepreneur.
In my own experience as a startup advisor and mentor, I find that entrepreneurs who can’t attract and maintain a highly motivated team rarely even get off the ground. Good hiring, training, and mentoring are the best motivators. If you can do it, motivation can easily be your biggest competitive advantage. Start today.
Similarly, it will be very satisfying to see the productivity increases from your leadership and mentoring. New business models that provide an ongoing revenue stream, or a secondary stream from advertising, raise your margins and can give you some additional satisfaction. Watch that patent provide a real barrier to competitive entry.
I’ve always wondered if there was some way that I could quickly deduce a new entrepreneur’s “sweet spot,” and optimize my mentoring to those strengths and weaknesses, maybe similar to the Myers-Briggs type indicator for business professionals. Ultimately, most get the best help from business advisors and mentors. Opportunist.
Many entrepreneurs I have mentored make big mistakes in this area, by hiring low-cost friends and family, with minimal skills or training, and expecting them to have the same work ethic , passion, and business knowledge as the founder. In addition, you can reduce to soft costs of mentoring, relationship building, and socializing.
As with most investors and advisors, I always look first at some key personal characteristics and leadership strategies that I find often make you a more likely survivor and winner in the highly competitive world of businesses, both new and mature. I believe in the old axiom, “ no risk means no reward.”
Most of you business professionals that I know have at least thought about or talked about starting their own business, to get more control, make more money, or to get more satisfaction out of their life. As a mentor to young aspiring entrepreneurs , I often get asked for tips on a strategy to get started. You must feel satisfaction.
Image via Wikipedia The challenge for all of us in business is to improve competitiveness by improving employee productivity and reducing costs. Unfortunately, work and satisfaction have become an oxymoron in many businesses. I loved it when my boss gave me the additional responsibility of mentoring others in solving tough problems.
Ironically, as a startup investor and mentor, I have seen too many failures caused by just the opposite – too much money spent too soon, taking time to get product perfection, and assuming customers will wait. How entrepreneurs respond to these will become a larger and larger determinant of startup growth, competitive position, and success.
These events are also opportunities to get a better handle on customer requirements, as well as measure your customer satisfaction and market trends. Seek mentoring from established industry leaders. The right mentors can give you timely and unbiased feedback on your business, industry trends, and emerging competitors.
In my role as a mentor to business professionals and entrepreneurs over the years, I have found that it’s important to take a hard look at the relationships around you on a regular basis. But, like most other skills, you can learn from these priorities: Everyone benefits from active mentoring.
You will learn to recognize that some friends and colleagues are always downers, and get their satisfaction from snuffing out your aspirations through negative thinking. A first step is empowering yourself to achieve success and feel satisfaction from doing your job. Don’t let anyone kill your dreams and passion.
In my experience as an advisor and mentor to entrepreneurs in business, one of the biggest failures I see is a lack of self-leadership. This momentum is what you need for enjoyment and satisfaction, as well as for others to see you as a business leader. You can’t lead a business to success, if you can’t lead yourself.
In my role as a business mentor and advisor, I now always look for a culture and recommend team roles that nurture collaboration rather than contention, communities rather than silos , and transparent communication at all levels. Discourage internal team competition and silos. Look for opportunities to highlight individual strengths.
In my years of mentoring entrepreneurs, a problem I have seen too often is low self-esteem, and over-compensating through arrogance and ego. As a team member, low self-esteem leads to low confidence, poor productivity, and no job satisfaction. Identify and redirect unhealthy competition and comparisons. Marty Zwilling.
In my years of mentoring entrepreneurs, a problem I have seen too often is low self-esteem, and over-compensating through arrogance and ego. As a team member, low self-esteem leads to low confidence, poor productivity, and no job satisfaction. Identify and redirect unhealthy competition and comparisons. Marty Zwilling.
You will then experience satisfaction, instead of increased pressure. Set aside time to seek out experts in your field for ideas, as well as mentoring and coaching. The stakes are higher than ever in this competitive and rapidly changing world. Save 30 percent of your energy for outside activities.
In my years of mentoring entrepreneurs, a problem I have seen too often is low self-esteem, and over-compensating through arrogance and ego. As a team member, low self-esteem leads to low confidence, poor productivity, and no job satisfaction. Identify and redirect unhealthy competition and comparisons. Marty Zwilling.
With some coaching and mentoring from other leaders, I was able to do it myself, so I know you can do it too, by committing to the following strategies: Train yourself to always look for positives, not negatives. Take satisfaction from wins to balance against setbacks. Write down your top 5 core values and review them often.
As a mentor to many entrepreneurs, I don’t believe that it is only a birthright, and there are several key strategies, including the following, that you can learn and practice which will lead to success: Give your own judgement a high priority in decisions. Display personal leadership often to build momentum.
In my years of mentoring entrepreneurs, a problem I have seen too often is low self-esteem, and over-compensating through arrogance and ego. As an employee, low self-esteem leads to low confidence, poor productivity, and no job satisfaction. Identify and redirect unhealthy competition and comparisons. Marty Zwilling.
But very quickly, it is becoming obvious to startups that the value and satisfaction exceeds the costs. Startups can use social responsibility as a competitive advantage. That’s a real competitive edge that you can use in your marketing and positioning. Socially responsible products typically sell at a premium price.
Ironically, as a startup investor and mentor, I have seen too many failures caused by just the opposite – too much money spent too soon, taking time to get product perfection, and assuming customers will wait. How entrepreneurs respond to these will become a larger and larger determinant of startup growth, competitive position, and success.
The result is fewer and fewer new ideas are volunteered by prospective leaders and key team members, and the business suffers from poor customer satisfaction or loss of market share. Find other situations that led to success, or explain why the environment, competition, or opportunity has changed to reduce the risk of failure.
Apply the same high bar to product quality, employee satisfaction, social responsibilities and customer service. It’s important to learn from peers, advisors and mentors that the required mindset must be combined with specific actions, including the ones outlined above, before value can be harvested. Set the bar high on standards.
Here are some key strategies that I recommend to every worker today: Develop and highlight your competitive differentiation. Use blogging, outside publication, and speaking or mentoring opportunities to establish credibility and stand out above peers. Market yourself both inside and outside your current job.
As you look forward from where you are today, I recommend that each of you consider the following points that the authors and I all agree are key to your satisfaction, as well as your success in business: You love solution creation more than managing business. No one else can do the solution delivery like you can.
They are not having the impact they expected, and they are not feeling the personal satisfaction they need for next level motivation. This is a tough challenge for every coach and mentor. Embrace the real you as your competitive advantage. Accept the fact that authenticity is necessary for leadership effectiveness.
Similarly, it will be very satisfying to see the productivity increases from your leadership and mentoring. New business models that provide an ongoing revenue stream, or a secondary stream from advertising, raise your margins and can give you some additional satisfaction. Watch that patent provide a real barrier to competitive entry.
Most entrepreneurs see their new venture as a fun adventure, until the pressures of a cash flow crisis, or a manufacturing quality problem, or a major customer satisfaction problem hits. Even with all my years of experience mentoring in business, I can’t predict how you will prepare for and react to pressure situations.
They are rightly thinking about a strategy to be better prepared for future challenges , recognizing that more are coming in this age of accelerating change and global competition. By demonstrating positivity and mentoring, you can make collaboration and connecting with others a productive and enjoyable experience, rather than a burden.
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