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About entrepreneurial styles

by Rick Baker
On Apr 5, 2011
One of my colleagues on LinkedIn asked the following question:
 
Calling all Entrepreneurs: What kind of an Entrepreneur are you?
 
University of Virginia research indicates that Entrepreneurs fall into two categories - those that use effectual reasoning (developing business goals and adapting them as they go), or use causal reasoning (set goals at the outset and strive to achieve them in the most effective manner).
 
I would like to know what you think. For more info see Inc. Magazine article "How Great Entrepreneurs Think" in February 2011 edition.
 
President, Padgett Business Services - helping small businesses with value added accounting, bookkeeping & tax services
Toronto, Canada Area
 
Here is my answer to that question...
 
Stephen,
 
While ‘causal’ is my natural mode, it seems to me for most of us it is not either/or. It is always a blend. I am a big fan of Napoleon Hill’s ‘Think and Grow Rich’. I believe Napoleon Hill was the first person to write “Plan Your Work and Work Your Plan”. That’s ‘causal’. My approach to business is wrapped in ‘causal’.
 
On the other hand, I don’t think people’s styles can be quantified as simply as that.
 
To expand a bit, here are three pairs of factors to consider…
  1. People & Process: While process is a good fit with the ‘causal’ approach, people are not nearly as good a fit. So, when it comes to people I adapt as I go [effectual].
  2. Rudimentary tasks and Conceptual tasks: Rudimentary tasks align with a ‘causal’ approach. Conceptual tasks are not so good a fit.
  3. Time Frame: A ‘causal’ approach works well with longer-term goals. This factor is the one that lets me know ‘causal’ is my natural mode. Regardless, for shorter-term goals I adapt. I suppose it could be argued that still fits with the ‘causal’ definition.
I hope this is helpful.
 
Rick
 
PS: Stephen’s question is a good one: I know entrepreneurs of each kind…I know many more of the ‘causal’ type than the ‘effectual’ type.

Tags:

Entrepreneur Thinking

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Sales Tweet #186

by Rick Baker
On Apr 4, 2011
Sales Tweet #186 A salesperson without enthusiasm will be, at best, an order taker.
 
The Thinking Behind the Sales Tweet
A Baker of sales would say, "Enthusiasm is the ingredient that causes sales to rise". Which reminds me…you know why Bakers tend to succeed at selling?...because they sell what is kneaded.

Tags:

Humour | Sales | Thought Tweets

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Sales Tweet #185

by Rick Baker
On Apr 1, 2011
Sales Tweet #185 Ernest Seller is in a really bad mood today. He forgot to buy himself a birthday gift.
 
The Thinking Behind the Sales Tweet
Our favourite salesman, Ernest Seller, was born on this day in 1963. That very day the ‘classic’ soap opera "General Hospital" soap opera debuted on television. Actually, Ernest’s saint-of-a-Mom would have had Ernest at General Hospital if she wasn’t so busy watching the soap opera on her new TV…but that’s another story…for a different day when all of us have more time. Note: I think General Hospital holds the record for soap opera ‘longevity’…much like Ernest Seller holds the record for soap opera sales.

Tags:

Thought Tweets | Ernest Seller

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Laziness

by Rick Baker
On Mar 31, 2011
People do better when they align their work with their talents and strengths than they do when their work collides with their weaknesses.
 
So - how does being lazy fit in?
 
A few months ago I wrote an article called ‘Procrastinate for Success'.
 
Similar thinking is feeding this article.
 
Procrastination may be a consequence of laziness, or maybe it’s vice-versa.
 
Certainly, procrastination and laziness are causes of the same effect: when we procrastinate stuff doesn’t get done and when we are lazy stuff doesn't get done. At least, it doesn’t get done ‘right now’.
 
It seems to me a good question to ask is, "Why isn't stuff getting done?"....
 
"Why am I procrastinating?"
 
"Why am I being lazy?"
 
Specifically, "Am I procrastinating or being lazy because this work/activity does not align with my talents and strengths?"
 
If the answer to that question is "Yes, I'm not doing this work/activity because it not aligned with my talent or strengths and I know it will frustrate me" then - that's not all bad.
 
Sure, other people may tend to judge you harshly. The work may align with their strengths and they may have no idea why you make such a fuss...or…do nothing.
 
If the work aligns with their strengths then for that exact reason they may not even be able to understand why you are avoiding it.
 
That's their bias at work.
 
Their bias may be causing them to see you as lazy when you are actually just procrastinating for success.

Tags:

Attitude: Creating Positive Attitude | Beyond Business

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Sales Tweet #184

by Rick Baker
On Mar 31, 2011
Sales Tweet #184 If you think you are too busy then you have set the limit on the amount of value you can generate.
 
The Thinking Behind the Sales Tweet
I believe successful people have more time. I have written Thought Posts about it. At a recent conference I was fortunate to join a group of business leaders who presented their thoughts to University of Toronto students…those successful people had the time to do this on a Saturday… 500 students obtained value.

Tags:

I'm too busy! - I don't have time! | Thought Tweets

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Entrepreneurs must click with other people

by Rick Baker
On Mar 30, 2011
I look at entrepreneurship success this way…
 
Entrepreneurship success has 2 components:
  1. the tangible wealth – money and what money can buy
  2. the feelings of self-worth & the quality relationships with other human beings.
Few people are fully satisfied by money alone.
 
Deep down, you know that.
 
But, you will be tempted to dis-remember it. I say dis-remember to make the point – you will not forget people are more important than money, however, that fact can be buried during the heat of entrepreneurial battles.
 
And – that’s when problems start.
 
That’s when self-esteem suffers.
 
That’s when success, if it comes, is bittersweet.
 
That’s when success can not fill the ‘wanting’ that drives entrepreneurs to carry on.
 
Much has been written about how special people connections can generate amazing success stories. As one example, I would recommend ‘Click’ by Ori & Rom Brafman.
 
Dedicate time to understanding what it means to click.
 
To succeed as an entrepreneur you must click with other people.

Tags:

Change: Creating Positive Change | Communication: Improving Communication | Entrepreneur Thinking

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