"10 things I do as an Entrepreneur" with Jeff Fuller - NORCAT Entrepreneurship 101
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Jeff Fuller, President of Fuller Industrial, shares his story about how he became an entrepreneur with his list of “Top 10 things I do as an Entrepreneur”.
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"10 things I do as an Entrepreneur" with Jeff Fuller - NORCAT Entrepreneurship 101
- 1. Top 10 things I do as an entrepreneur March 25, 2015 NORCAT
- 2. Agenda Short history Top ten things I do as an entrepreneur Questions, comments Disclaimer – these are the things I do. I believe they are universal. Results may vary
- 3. History Moved to Sudbury in grade one Potato farmer Laurentian University, HBComm Banker Rock and Roll Musician Family business Amalgamated business Bad partners Started Fuller Always looking for opportunities
- 4. 1) Really know my vision Business and personal vision must be in alignment - Mine = partner of choice, determination, optimism - My vision is my north star. If a decision takes me away from my vision, it is a bad decision Think big Focus on the things I want - Rocking chair test
- 5. 2) Understand the market Don’t underestimate competitors What is the size of the addressable market? How much market share can I realistically take? Where is the market going? Look for blue ocean opportunities - uncontested market space, unlock new demand
- 6. 3) Think like a customer Get paid to help people – don’t think more for less Use customer needs to drive my decisions
- 7. 4) Understand what risk management means for me Calculated risk – risk management changes with age An entrepreneur is a person who jumps off a cliff and builds a plane on the way down
- 8. 5) Do the things that unsuccessful people don’t Work hard (and smart) Set goals – write them down, review them every day Expect more from myself than anyone else (and forgive myself when I should) Go the extra mile in everything I do
- 9. 5) Do the things that unsuccessful people don’t Do an act of kindness every day without expectation of reward Have good rituals Do what I say I am going to do Keep commitments to myself Make the hard decisions
- 10. 6) Good process leads to good results A company with average people and good processes will beat a company with super star performers and poor processes. Solve problems with 5 why’s, not 5 who’s Read The Toyota Way
- 11. 7) Have a strong stomach Have a positive attitude Live with ad “attitude of gratitude” Remember the Serenity Prayer God, grant me the serenity to accept the things I cannot change, The courage to change the things I can, And the wisdom to know the difference
- 12. 8) Have unstoppable determination Stop and remember your successes whenever you have a set back Ask good questions - if you are getting the wrong answers, you are asking the wrong questions Don’t listen to naysayers Have positive expectations – plan for the worst, but hope for the best
- 13. 9) Think and grow rich Prepare for success and failure Associate with mentors and people who have achieved the success you are looking for Make $$$ - cash is king! You get what you give – give back
- 14. 10) Have Fun Life is short Stay healthy – you are useless to yourself and employees if you are sick Keep balance and enjoy your family and friends
- 15. THANK YOU