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Name of author Rick Baker, P.Eng.

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While You Can Teach About Entrepreneurship, You Cannot Create Entrepreneurs

by Rick Baker
On Jan 16, 2017

Five years ago I wrote:

3 forces drive entrepreneurs:

  1. Entrepreneurs have this burning feeling inside them…a Need To Achieve something. I describe it as ‘a wanting’.
  2. Entrepreneurs have a desire to create and Build Things Of Value.
  3. Entrepreneurs have a need to Be Recognized As Different – a different type of contributor.

These are defining internal forces driving An Entrepreneur.

In addition, An Entrepreneur is a business leader who:

  1. Recognizes, uses, & develops People Strengths…first in self and then in others,
  2. Clicks with other People [has self-control & a pleasing-enough personality], and
  3. Is ready, willing, and able to lead change…first in self and then in others.

These are the defining characteristics of – the key Personal Strengths of - An Entrepreneur.

These 3 forces coupled with these 3 characteristics form Spirited Leaders’ definition of An Entrepreneur.

***

When we work to help entrepreneurs by educating them we need to remember they are a different breed of cat. Their stripes are similar to those of the fine artists…but they are not the same, nor should they be expected to respond to the same education. Their stripes are similar to those of the inventor…but they are not the same, nor should they be expected to respond to the same education. Their stripes are similar to those of the blue-chip business leaders…but they are not the same, nor should they be expected to respond to the same education.

When teaching about entrepreneurship...

Remember: you must always be thinking about a fascinating blend of Fine Arts & Science & Business

***
And, of course, you need to observe carefully to make sure the 3 driving forces are present because little of value happens when the furnace is stoked while the fire ain't burnin'.
 

Tags:

Entrepreneur Thinking

Fresh-squeezed Sales Juice

by Rick Baker
On Nov 25, 2015
What do you need to do to get your sales people juiced up about the amazing opportunities you see everywhere you look?
 
First, does that question resonate with you?
 
Specifically - Do you see amazing opportunities everywhere you look?
 
I hear entrepreneurs say that all the time. Entrepreneurs see lots of opportunities. And, entrepreneurs are often puzzled because people who follow them do not see the opportunities or have trouble ‘capturing’ them. I hear that often…not necessarily as complaints…just statements of the facts as entrepreneurs see them.
 
Entrepreneurs and other business leaders want to capture opportunities. These people are builders and opportunities enable growth. So, it is important to find ways to juice up sales activities to capture the amazing opportunities. Yet, many entrepreneurs struggle with this. Entrepreneurs know they need to juice up sales activities but they have trouble figuring out how to get it done.
 
Here are some suggestions on how to juice up sales activities:
  1. Complete a down-deep-and-personal assessment of your sales staff. Spend a little time on assessments. Spend more time on assessments. Understand personal strengths and personal weaknesses. This is the key. Really Understand Your Sales People Personality.
  2. Skip the formalities. Use few words. Use simple words. Remember the …address the 20% that impacts 80%, forget the rest. Just cover the most-important things…with clarity. Create a Bare-Bones Marketing Plan 80/20 Rule.
  3. Engage People Strengths: Each of your sales people has specific strengths. Make sure each person understands his/her individual, specific strengths and how those strengths mesh with role activities and sales success. Adjust work activities to fit the people strengths. Each sales person must be allowed to engage his/her individual strengths. Do not force sales people to conform to a fixed set of sales activities…allow your unique people to succeed uniquely.
  4. Plan Around or Over the Gaps…Not Through Them: Accept the fact there will be gaps. Your people will not be able to do things the way you do things so do not use yourself as the performance benchmark. There will be individual gaps [each sales person will have personal weaknesses] and there will be group gaps [overall weak areas, ie, activities where no one on your sales team is strong]. Do not fight those gaps. Do not attempt to change sales people so they fill the gaps. Just engage people strengths to fill gaps. Apply the 80/20 Rule…work on no more than 20% of the gaps. If your people do not have the necessary strengths then hire people with the strengths required to fill the gaps. Often, you will find yourself wanting to hire hunters. Again, that 80/20 Rule applies…at best 20% of sales people are hunters.
  5. Set Some Rules…Carefully: Be careful. You should have just enough rules to make sure sales people understand the game. Don’t spoil the game. Do not micro-manage.
  6. Lead By Example…Discuss Carefully: Do deals. Provide ideas. Be careful. Make sure you convey the fact your sales activity works for you but it will not necessarily work for others. In fact, it is unlikely it will work for others. Every sales person needs to understand how to put his/her strengths to best use. That is a key message. Repeat it often. Work to help people make it happen.

 
Footnote:
 
80/20 Rule: The Pareto principle (also known as the 80/20 Rule, the law of the vital few, and the principle of factor sparsity) states that, for many events, roughly 80% of the effects come from 20% of the causes. 

Tags:

80/20 Rule | Entrepreneur Thinking | Sales

When you annoy people, you don’t make money!

by Rick Baker
On May 20, 2015

When you run a company, from time to time, you may think your employees want to run the company their way. Perhaps, it isn’t that the employees want to run the company their way. Perhaps, they just don’t want the company run your way. In other words, they have differing views on how a company should be run and they think your approach needs to be changed.

When you are the leader of the company, that sort of employee feedback can be a very hard pill to swallow. When you are an entrepreneurial leader, creating the workplace for all those people, criticism can be a particularly hard pill to swallow. [Many entrepreneurs express this concern/frustration.]

Whether people want the company run their way or don't want it run your way amounts to a similar thing - criticism of the leader's methods. While for most people the natural reaction is to take offense to criticism, a better approach is to step back and figure out why your people object to your methods.

Whether you like it or not your people are annoyed with you. And their feedback is making that clear to you.

When you annoy people, you don’t make money!

When you don't annoy people, you have a chance to make money!

 

PS:  This isn't about who's right and who's wrong. It's about differing viewpoints and, depending on how you choose to view them, differing viewpoints are either opportunities to learn or sources of relentless frustration. [Perhaps, remembering "When you annoy people, you don't make money!" will help you make the right choice.]

Putting a finger on your entrepreneurial pulse

by Rick Baker
On Apr 20, 2015

A few years ago, I wrote a little piece titled “Driven to Construction”. It considered the 3 forces that drive entrepreneurs:

  1. A burning desire to achieve,
  2. A burning desire to create and build things of value, &
  3. A need to be recognized as a different type of contributor.

Some key thoughts:

Entrepreneurs are driven to innovate and construct products and services; entrepreneurs are absorbed in creating new products and services, which must contain value for others. Invention on its own is not enough. Inventors are a different breed of cat. Innovators make adjustments to existing ‘methods & ways’ in order to deliver new forms of value to other people, especially clients.

Entrepreneurial drive may contain an inventor flavour; entrepreneurial drive must contain an innovation flavour.

Entrepreneurial drive is a most-important source of economic growth. Entrepreneurial drive is a key to re-energizing economic growth and to sustaining economic growth. Entrepreneurial drive is fundamental to individual businesses’ health and wealth.

The entrepreneurial dilemma...it is difficult to institutionalize the entrepreneurial way of doing business. In other words, the entrepreneur has it but has trouble passing it on to others. In fact, it seems impossible to generate an entrepreneurial spirit in someone who doesn't possess the 3 forces outlined above.

So, if you are an Entrepreneur and you are having difficulty spreading it to others then consider their internal drivers:

  1. Are they Achievers?
  2. Are they Builders?
  3. Do they stand out as Different?

Achievers: the existence of the drive is more important than its specific direction...it is much easier to focus or re-focus a strong drive to achieve than it is to create a strong drive to achieve.

Builders: the existence of the drive is more important than its object...it is much easier to focus or re-focus a strong drive to build than it is to create a strong drive to build.

Different: many entrepreneurs are odd characters, who are very comfortable with the fact they are not viewed as standard/normal/average people. They notice how others perceive them. They are motivated if not delighted by the fact they are viewed as a different type of contributor.

More about the entrepreneurial dilemma…many entrepreneurs and many organizations struggle to build a culture of entrepreneurship. Some people, including some entrepreneurs and leaders, argue it is not even possible to build such a culture because entrepreneurs are born, not made. Regardless, few deny the pace of business-change is fast and innovation is an essential ingredient of business success. So, whether or not your business culture becomes truly entrepreneurial or falls short of that mark, it is essential to focus on building a culture that promotes innovation:

  • Innovation that allows your business to attract and impress ideal clients
  • Innovation that breeds confidence greater than that possessed by your competition
  • Innovation that maximizes your people’s ability to be self-motivated

To do this, take a close look at yourself and take a close look at your key people. Never lose track of the fact that small adjustments within the leadership team can generate positive change throughout an organization.

As you take a close look at yourself and the people on your leadership team consider:

These 3 attributes are the vital ingredients. Seek them out. Build on them. 

Do You Want To Expand Your Insight Power?

by Rick Baker
On Dec 24, 2014

Entrepreneurs have deal-doing insight.

Good salespeople have deal-doing Insight, which can be defined as:

  • a natural, deep capacity to understand people and situations,
  • a tuned intuition that identifies patterns & trends, and
  • an ability to see gaps and know ways to fill them.

True entrepreneurs and top-notch salespeople possess a set of natural talents that work together to create insight strength.

As one example:

Consider Ideation and Intellection...the ability to imagine ideas and the ability to think about and understand ideas. These are two distinct aspects of Talent: that is, to a degree they can be viewed as distinct. Ideation and Intellection are 'intertwined'. Many people tend to be 'set' in one mode or the other. As a result - few people possess the ability to shut off Intellection in order to free up Ideation. Few people possess the ability to set aside judgment and replace it with open-mindedness or free-flowing creativity. Indeed, very few people can switch back and forth between Ideation and Intellection. Most people get stuck in thought ruts...thought habits.

Q: Can a person develop Insight Strength?

A: Absolutely - Yes!

Here's a great way to start - read some of Edward de Bono's work.

Applaud curiosity.

Spend more time with inwords.

Remember - deal-doing insight can be converted into fortunes. 

 

New Things are the key to interesting and positive work experiences.

Business Involves Only 3 Actions: doing deals, delivering value, and receiving value.

by Rick Baker
On Oct 15, 2014

Doing Deals: the actions taken to obtain clients

Delivering Value: the actions taken to serve clients

Receiving Value: the actions taken to obtain money from clients

***

With proper coverage of these three actions a business survives.

Each of these actions requires a specific set of technical skills.

 

Each of these actions requires 'at-least-sufficient' people skills.

***

Very few entrepreneurs can excel at all 3 actions.

Some entrepreneurs, with a little help from others, can build a $1,000,000 business that covers all 3 actions.

Most successful entrepreneurs require ongoing assistance and expertise from other people to cover at least 2 of these actions.

Tags:

Entrepreneur Thinking | Seeking Simple!

Copyright © 2012. W.F.C (Rick) Baker. All Rights Reserved.