For Leap's Sake – Experience the Exhilaration of Entrepreneurship

It was a warm sunny day last September.  I had decided in my fatherly wisdom a few months back that it was a good time for my 3-year-old son to learn how to play team sports.  (It seemed like a very good idea to me since he and his younger brother are forever jumping over couches and chairs, hanging on the banister and taking turns dumping out the clean laundry basket!

As we were preparing to go, it dawned on me that team sports is a great way to teach entrepreneurship to kids.  I know it’s a commonly used analogy, but that’s because it’s so appropriate.

Team Sport

Even though all of us – including the media- tend to focus on one lone, charismatic leader who has pulled himself up by his bootstraps and conquered the world of business, entrepreneurship REALLY is a team sport!  I have no doubt that Donald Trump, Robert Kiyosaki, Oprah Winfrey, Robert Johnson, Bill Gates and all other well known, celebrity entrepreneurs would tell us that they could not do without lots of help!  In fact, a mark of an entrepreneurial mind is one who recognizes this fact early and begins to utilize the talent, time and treasure of the other members of the team!

Common Goal

There is ONE reason that the team comes together and that is to WIN GAMES!  I know that some folk believe that little league teams (read “parents”) take the games too seriously sometimes, but I think this is the purpose of team competition: TO WIN!.  Now lest you think I’m one of those fathers who gets thrown out of games, I’m not.  I just think that are other avenues to team kids about sharing and exercise for its own sake.

In entrepreneurship, there must be a main goal, a main purpose, a reason for being.  And make no mistake about it: the main thing is not just about making a lot of money!  This is the so called BHAG (Big Hairy Audacious Goal).  The company must exist to “change the world” in some respect.  Any Tom, Dick or Sally can turn a profit, right?

Winning the Small battles

In order to accomplish the main goal of winning games,  a kid must learn that his must overcome small individual battles in order to reach that milestone.  If the small battles cannot be won, there is no way the big goal can be accomplished.  So teach your kid to win the small battles and this will translate easily into a testing ground for entrepreneurship.

Entrepreneurs, on a daily basis, must win the small battles of knowing what are the most important income-producing activities of the day.  Which existing clients should receive the most attention?  How much time should be spent on pursuing new business versus maintaining existing relationships?  The outcome of all of these small battles will determine whether the overall goal is reached.

Scuffed Knees

Some parents may find it hard to watch, but getting your knees scuffed is a part of team sports.  It’s hard to watch your son or daughter fall down time and time again, but it’s a part of the game! Even at 3 years old and even before participating in a team sport, one son had stitches and the other one broke his leg!

Entrepreneurs have to know that times will get rough.  But that’s all a part of the game!

Practice, Practice, Practice

There is a reason that the kids go to practice every week day, running sprints and laps, sometimes doing push ups and sit ups for what seems like hours at a time (I’m getting sore just thinking about those days)!  All of that effort and toil is meant to get the kids in shape so that they can be ready to encounter the inevitable resistance from the opposition.

Contrary to popular belief, successful entrepreneurs do not “take the leap” without doing serious preparation for their launch.  Market research, capital planning, strategic partnerships and identifying key personnel are all activities that get fully vetted prior to ‘running on the field’!

Another Tip

So I was already to leave the house when I noticed that my son was not dressed properly for his day at soccer practice.  You see, it was 80 degrees F outside and I (in my fatherly wisdom) knew that my son would need shorts and a T-shirt in order to play well.  But he had grabbed a thick sweat shirt and was heading toward the door.

“Son, I need you to go change into your soccer shirt.  It’s hot outside.”

“This IS my soccer shirt, Dad!”

“I don’t think so.”

“Yes, it is!  It has a number on it…it’s looks better when I’m running!”

That’s when I realized I had forgotten one of the most important things about entrepreneurship: MARKETING!

Want More Tips?

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You may be interested to know that my son decided that he wasn’t quite ready for team sports: he preferred to run around pursuing his own agenda of kicking and chasing the soccer ball to the four corners of the field rather than to participate in the coach’s drills!  Hey, that’s another trait of an entrepreneur…needing to go one’s own way!  I think there’s hope for my kid being a great entrepreneur!  I’m looking forward to it!

Until next time…Geronimo!

Dino

“Passionate about helping people reach their entrepreneurial potential”

Today is the day many of us in the United States  have set aside to commemorate the life of Dr. Martin Luther King, Jr. and his dream.  Dr. King  set forth his dream on that fateful summer day back in August of 1963 with his “I Have A Dream” speech.

• His dream was about Equality – He hoped that everyone would be considered equal as heralded in the U.S. Constitution.
• His dream was about Brotherhood -  He hoped that the oppressed could one day sit down together with the oppressor in a bond of unity.
• His dream was about Freedom and Justice - He envisioned the day when places known for injustice and servitude would some day become just the opposite.
• His dream was about being judged on merits, not outward appearances
• King said his dream was deeply rooted in the “American Dream”.

Dr. King had a very powerful dream.  So much so, that his dream lives on today, nearly 50 years later.  Of course, there are discussions (and disagreements) about whether or not the dream has been fulfilled; about whether equality has been achieved, whether brotherhood is a possibility, whether freedom and justice have been served.

I believe that this debate will most likely never be settled.  I personally believe that the valleys will never be completely raised, the hills and mountains will never completely be made low, the rough places will never be made totally smooth, nor will the crooked path be made completely straight.

But you know what….THAT’S THE LIFE OF AN ENTREPRENEUR!

The question is this…Is your entrepreneurial dream big enough to see you through those tough times?

Entrepreneurship can help bring about equality because revenue and profits are, in some respects, the great equalizer.  There are very few people who will turn down your money because you are a different race, color, ethnicity, etc.  And conversely if you are truly bringing value to the marketplace, you will have many buyers of your products and services.

Furthermore, the prospect of increasing market share and revenues has caused more than one entrepreneur to sit down in the spirit of brotherhood with the competition to create joint ventures of all sorts! The phrase  “Co-opetition” was coined a few years ago to describe this phenomenon.

I also realize that Dr. Martin Luther King, Jr. was promoting “jobs and freedom” on the day he stood on the steps of the Lincoln Memorial, but “freedom” is more closely aligned with “entrepreneurship” than with “jobs”.  You have to do what others tell you to do when on the job, while entrepreneurship allows self expression and the freedom to dream big!

SO HOW BIG IS YOUR DREAM?

Michael Gerber, the great ‘professor’ of entrepreneurship and author of the E-Myth series, wrote another book titled, Awakening the Entrepreneur Within: How Ordinary People Can Create Extraordinary Companies.  According to Mr. Gerber one of the main traits of an entrepreneur is that of “The Dreamer”.  We must have a dream that “moves us, consumes us” and “keeps us awake at night”.

The other book that comes to mind is Wintley Phipps’ book, THE POWER OF A DREAM The Inspiring Story of a Young Man’s Audacious Faith, where he talks about his unlikely journey from his childhood growing up in Trinidad to singing before presidents and heads of foreign governments.

You see, being and becoming an entrepreneur is not just about finances.  Not if you’re going to have any fun at it, any way!  Not if it’s going to feel almost like play time instead of work time.  It’s about creating something greater than yourself.  It’s about achieving a purpose for your life.  The money is just a byproduct of what you’re going to create!

As Phipps sang in his song:

“That’s the power of a dream!  So much power in your dream.  Can you feel it?  Can you feel it?”

Until next time…Geronimo!

Dino

P.S.

I haven’t forgotten about my discussion of Entrepreneurship & Emerging Leadership .  We’ll pick it up next time!

I had the pleasure of interviewing Jim Canterucci on my internet radio show the other day (The Dino Herbert Show – Every Day Hero Entrepreneurs) and it was quite interesting.  Jim’s the CEO of Transition Management Advisors, author of the best-selling book “Personal Brilliance”, a professional speaker and founder of his newly created Emerging Leadership Circle.  You should definitely listen in to the interview and also go to Jim’s website (www.elcircle.com) when you get a chance.

We talked about Jim’s “7 Essentials of an Emerging Leader” and what intrigued me was how appropriate these 7 essentials are to entrepreneurs.  Here they are:

1.                   PERSONAL BRILLIANCE

Every emerging leader (and entrepreneur) must have a taste of personal brilliance inside.  What’s meant by “personal brilliance”?  Jim book goes into greater detail about each one of the following four traits that are prerequisite to having personal brilliance.  They are:

Awareness – You MUST know what’s going on – in the global economy, the national economy, your industry and definitely in your company.  It’s only then that you can be creative in terms of giving your organization a competitive advantage.

Curiosity – Curiosity may have killed the cat, but curiosity is a necessary trait for entrepreneurs.  “What does the market need and want?”  “What is the competition doing?”  “Why are our customers buying our ‘best’ product? “ What If….?”  Successful entrepreneurs are ALWAYS questioning, wondering and probing for solutions to sometimes unanswerable queries.

Focus – Entrepreneurs have to focus on a venture until it’s successful.  The field of entrepreneurial battles is littered with who quit when the going got a little tougher and the outcome seemed uncertain.  Oftentimes the situation is made worse because the entrepreneur begins to attempt to diversify in the name of achieving success, when in fact the solution is to continue to focus on core competencies.

Initiative – This goes without saying.  Entrepreneurs take the change when others won’t.   Sure it’s a risk, but with successful entrepreneurs it’s a calculated risk.

2.                   LISTENING

The importance of listening for entrepreneurs cannot be understated.  Listening to customers, to the market, listening to your employees and even listening to the stockholders!  NOTHING ever gets worse by listening a little longer, listening more closely, listening for understanding.

3.                   INFLUENCE

Entrepreneurs must have the charisma that is necessary to influence others.  Perhaps the business owner is attempting to convince a venture capitalist that your organization is worthy of funding; maybe there is a key individual who has the exact set of skills and experience that are needed to really make this company “sing”; perhaps the employees need to be inspired again to see where the company is headed or perhaps a potential client needs to understand how your product will, indeed, directly bring financial rewards.  In any of these situations an entrepreneur must be able to exert influence on those around him.  Devoting time to interpersonal skill building is always time and money well spent.

4.                   Why don’t we stop here for now…we get the rest of them next time.

Until next time……Geronimo!

Dino