Entrepreneurship is something most want to be able to do. However successful entrepreneurs know it is not the capital, product or great business idea that matters. It is the MINDSET of the Entrepreneur to overcome the challenges and persist despite the odds.
2. Defining Entrepreneurship
Merriam-Webster: “one who organizes, manages and assumes the
risks of a business or enterprise.”
Dictionary.com: “a person who organizes and manages any
enterprise, especially a business, usually with considerable
initiative and risk.”
Business Dictionary.com: “Someone who exercises initiative by
organizing a venture to take benefit of an opportunity and, as the
decision maker, decides what, how, and how much of a good or
service will be produced. An entrepreneur supplies risk capital as a
risk taker, and monitors and controls the business activities. The
entrepreneur is usually a sole proprietor, a partner, or the one who
owns the majority of shares in an incorporated venture.
According to economist Joseph Alois Schumpeter (1883-1950),
entrepreneurs are not necessarily motivated by profit but regard it
as a standard for measuring achievement or success.”
The Entrepreneurs Edge
3. 1. Flexi-Adapt (Flexible and Adaptable)
2. Outcome (Focus on the Outcome)
3. Communicate (Do not stop Communicating)
4. Understand Results Everyday (It is survival)
5. Sales & Service (Be Customer Orientated)
6. E always 4Es (Develop your 4Es)
7. Discipline (The Power of Execution)
FOCUSED Mindset
The Entrepreneurs Edge
4. 1. Be Flexi-Adaptable
This is a live changing moment. You will have the high and the
lows. Every Certainty is uncertain. Each stable period is
followed by Chaos
Adapting is not coping with change. Adaptable people actually adjust to
change,. They accept change, hone strategies for dealing with the unknown
and shift their behaviour to accommodate new situations and challenges.
They help others also
The Entrepreneurs Edge
5. Cognitive flexibility refers to
the different ways of thinking to
adjust to the presented
situation.
Emotional flexibility refers to
the ability to modify your
emotions to your approach.
Dispositional flexibility refers
to your ability to remain
optimistic and realistic in the
situation
1. Be Flexi-Adaptable
The Entrepreneurs Edge
Cognitive
Flexibility
Emotional
FlexibilityDispositional
Flexibility
Adaptability
6. Clear Outcomes will automatically:
• Establish direction
• Identify results
• Improve teamwork
• Heighten performance
SET THE OUTCOME, THERE ARE MANY
WAYS TO GET THERE.
2. Your Business Destination Must Have An
OUTCOME
The Entrepreneurs Edge
8. 4. UNDERSTAND RESULT EVERYDAY, Create a
Scoreboard
1. Is it Simple? – How much Data
relevant and irrelevant is displayed?
2. Can I see it easily? – Can the team
see the board – are they looking at
it?
3. Does it show me the lead and lag
measures?
4. Can I tell at a glance if I am winning?
The scoreboard is for the whole team. To ensure results is
consistently achieved. Use charts, graphs and important
statistics for the whole team to see in real-time. In one glance,
everyone can tell if you are wining or losing your goals.
The Entrepreneurs Edge
9. 5. Sales and Service Everywhere. The Customer
Experience
Your ability to fulfil your Customer Need is Critical to Your Business. Your
Ability to Sell and Service Your Products and Service is key to your
business success.
MUST DO
It is Essential
SHOULD DO
It is
Expected
COULD DO
Wished For
Customer Experience is the sum
of all experiences a customer has
with a supplier of goods or
services over the entire duration
of their relationship and emotional
attachment with that supplier and
the organisation.
The Entrepreneurs Edge
10. 6. Sales and Serve to Build Brand Loyalty
“An emotional experience a customer has
with an organization, resulting from the
creation of all previous experiences with the
organization and its representatives, that
loyalty is assured
The Entrepreneurs Edge
Customer
Proposition
Products &
Services
Customer
Communication
Touch Points
Sales &
Services
After Sales
Service
Recovery
Support Functions
11. 7. Develop the 4Es in Yourself
The Entrepreneurs Edge
The key to the entire model. Without
performance and measurable results, the
other “E’s” are of little use.
Be an energizer bunny.
Spark the team to perform.
Learn to make the really difficult decisions, such
as hiring, firing and promoting. Do not let the
degree of difficulty get in your way.
ENERGY
ENERGIZE
EDGE
EXECUTE
12. 7. Discipline Of Self
The Entrepreneurs Edge
Monday Tuesday Wednesday Thursday Friday Saturday Sunday
6.00 am
7.00 am
8.00 am
9.00 am
10.00am
11.00am
12.00pm
1.00 pm
2.00 pm
3.00 pm
4.00 pm
5.00 pm
6.00 pm
7.00 pm
8.00 pm
9.00 pm
10.00pm
11.00pm
12.00am
It is UP TO ME only.
Schedule the below into
your life:
• Health
• Work
• Family
• Development
13. Thinking tomorrow is going to be more of today
Is REACTIVE when the future arrives.
We need to be PROACTIVE or
Futures
Ready
To be innovative, you have to stop
being too busy to think and start
doing it