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Other Added - Lessons Learned from Successful Entrepreneurs
Idea gathering is the first thing you need to do in the process of generating ideas. This step must be done extremely well to benefit the flow of ideas to come.He who has imagination without learning has wings and no feet. —Joseph JoubertAfter you have digested the information, you need to look at new combinations with the idea and have the ability to see the relationships. At this point in the idea quest, I would manipulate the facts in your mind. Bring facts together in different arrangements. Ask yourself questions. Search for combinations. Listen
Continuing education. When Burton B. Goldstein, chairman of Information America started the company, one of his board members told him: “If you are still in business three years from now, you’ll be in
Change is certain and constant. Benjamin Franklin would have been wise to add "change" to his adage that "death and taxes are the only certainties of life."We are inundated every day with new relationships, new ways to do things, new expectations and new information. The total of all knowledge doubles every five years. It has been estimated that 75 percent of all current workers will need retraining by the year 2010; today's high school graduates will have to be prepared to change jobs or careers at least 10 times in their lifetimes.The way each o
Entrepreneurs see a world that is incomplete. It probably does not yet have what they intend to create. If it does, it needs something else they just thought of.
They differ markedly from one another. But there are similarities. One of the most prominent similarities is the ability to perceive clearly. The ability to perceive clearly is important to many high achievers, but essential for the entrepreneur. Here is what the entrepreneur perceives:
Voids. A college student, Frederick Wallace Smith, conceived of a dependable overnight delivery system for letters and small packages. It would require a vast network of planes, trucks, messengers and electronics that did not then exist. That perception led to Federal Express.
Defects. A cartoonist perceived that most amusement parks of his day were shabby and boring. Why not create something that was improved – a theme part that was sparkling clean and exciting? That perception led to Disneyland.
Opportune time. Ted Turner was watching Home Box Office one evening and realized that time had come for his small Atlanta-based station to go on satellite too. That perception led to the SuperStation and later to CNN.
Syntheses. Parker H. Petit, CEO of Healthdyne, say his success as an entrepreneur comes from his ability to synthesize data. Petit believes he “can look at a set of circumstances, the market, a product or whatever and see order and opportunities in those variables that other people seem to see and just don’t piece together.”
Continuing education. When Burton B. Goldstein, chairman of Information America started the company, one of his board members told him: “If you are still in business three years from now, you’ll be in a
I've lost count of the number of times I've heard people complain that they can't pursue job X because they lack experience, and they "don't have transferable skills."Poppycock. Everybody has transferable skills.The reason people think they don't is because they're mixing up two very different things. They're mistaking transferable skills for transferable experience.Transferable experience is usually direct. It allows you to say, "I've done this particular job (or part of this job) before." If you haven't, then you really don't have directly applicable
Entrepreneurs see a world that is incomplete. It probably does not yet have what they intend to create. If it does, it needs something else they just thought of.
They differ markedly from one another. But there are similarities. One of the most prominent similarities is the ability to perceive clearly. The ability to perceive clearly is important to many high achievers, but essential for the entrepreneur. Here is what the entrepreneur perceives:
Voids. A college student, Frederick Wallace Smith, conceived of a dependable overnight delivery system for letters and small packages. It would require a vast network of planes, trucks, messengers and electronics that did not then exist. That perception led to Federal Express.
Defects. A cartoonist perceived that most amusement parks of his day were shabby and boring. Why not create something that was improved – a theme part that was sparkling clean and exciting? That perception led to Disneyland.
Opportune time. Ted Turner was watching Home Box Office one evening and realized that time had come for his small Atlanta-based station to go on satellite too. That perception led to the SuperStation and later to CNN.
Syntheses. Parker H. Petit, CEO of Healthdyne, say his success as an entrepreneur comes from his ability to synthesize data. Petit believes he “can look at a set of circumstances, the market, a product or whatever and see order and opportunities in those variables that other people seem to see and just don’t piece together.”
Continuing education. When Burton B. Goldstein, chairman of Information America started the company, one of his board members told him: “If you are still in business three years from now, you’ll be in
Just recently I was asked to do a talk for my good friend and co-author of our best-selling book in Singapore titled Get Rich Now: 15 Strategies from a Self-made Millionaire, Dr Dennis Wee. (Dr Wee is one of Singapore’s most celebrated entrepreneurs. Despite not having completed his high school education, he managed to start and build up his own real estate company, Dennis Wee Group, to become of Singapore’s leading real estate companies generating S$3.8 billion worth of sales in 2006.)He wanted me to share some marketing secrets with his real estate a
Voids. A college student, Frederick Wallace Smith, conceived of a dependable overnight delivery system for letters and small packages. It would require a vast network of planes, trucks, messengers and electronics that did not then exist. That perception led to Federal Express.
Defects. A cartoonist perceived that most amusement parks of his day were shabby and boring. Why not create something that was improved – a theme part that was sparkling clean and exciting? That perception led to Disneyland.
Opportune time. Ted Turner was watching Home Box Office one evening and realized that time had come for his small Atlanta-based station to go on satellite too. That perception led to the SuperStation and later to CNN.
Syntheses. Parker H. Petit, CEO of Healthdyne, say his success as an entrepreneur comes from his ability to synthesize data. Petit believes he “can look at a set of circumstances, the market, a product or whatever and see order and opportunities in those variables that other people seem to see and just don’t piece together.”
Continuing education. When Burton B. Goldstein, chairman of Information America started the company, one of his board members told him: “If you are still in business three years from now, you’ll be in
A thrift store is something that sells used items that are in good condition. There are many different stores that do this in most areas. Most of the time the items in a thrift store are still in great condition and will be just as good as a store that sells new items, the only difference is that you will pay less at one of these stores.There are a lot of thrift stores that sell the items for a certain charity. Sometimes the money that is raised by selling these items is given back to the community. This is a great way to make good use out of the unwanted items
Opportune time. Ted Turner was watching Home Box Office one evening and realized that time had come for his small Atlanta-based station to go on satellite too. That perception led to the SuperStation and later to CNN.
Syntheses. Parker H. Petit, CEO of Healthdyne, say his success as an entrepreneur comes from his ability to synthesize data. Petit believes he “can look at a set of circumstances, the market, a product or whatever and see order and opportunities in those variables that other people seem to see and just don’t piece together.”
Continuing education. When Burton B. Goldstein, chairman of Information America started the company, one of his board members told him: “If you are still in business three years from now, you’ll be in
Does exercising once or twice a month get you into shape? Not likely, nor does looking for a job every now and then. If you are out of work you need a job searching routine and here is how to do it.Consider finding a new job to be your current job.Your job is spending 8-10 hours a day doing activities that will lead to and get you the job of your dreams. Just like exercise in the beginning your muscles will complain but when you have done it for a while you will have the body of Zeus. Or more importantly a great job.Get into a routine.It seems e
Continuing education. When Burton B. Goldstein, chairman of Information America started the company, one of his board members told him: “If you are still in business three years from now, you’ll be in a different business.” Goldstein says that observation has turned out to be true. “You have to be comfortable with the fact that you are on a road, a learning curve and you are going to learn stuff and you are going to change.”
Continuing education is really is an extension of the process that brought about the entrepreneurial venture in the first place. That first vision may be 20/20, but it is more likely that the first vision is only a rough approximation or the “shape of the answer,” as author Horace Freeland Judson puts it.
Continuing education is essential because of changing technology. A group of managers recently told me that the technological competence of the average college graduate today will be obsolete within three years or less. What they said is true in most fields because of the pervasive impact of the information revolution. If you don’t keep on learning, somebody else will, and put you out of business.
Continuing education is essential because the target audience is changing. No creative activity is more audience-driven than entrepreneurship. If people do not buy the new product or patronize the new store or join the new organization, the venture dies. The target may be a moving one or a fickle one. Tastes may change. People may move physically. So, the entrepreneur must keep on learning about the target audience.
Still another similarity: the ability to do mundane tasks well.
What separates entrepreneurial activity from other creative acts is its emphasis on the practical. Entrepreneurial activity is a creative act, and, as such, is cerebral. It may even grow out of pure research. But entrepreneurs must do the thousand-and-one tasks involved in transforming an insight into something ta
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