Developing Entrepreneurial Spirit – The Key To Grandeur Success In Every Walk Of Life

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Irrespective Of Your Background – Whether You Are A Student, Housewife, Business Person, Social ContributorHaving An Entrepreneur Soul Can Add Zing To Your Life In Whatever Role You Are Playing.

This Does Not Sound Correct – Don't You Think.

Let Us Explore What The People Who Have This Life Force Of Entrepreneurship Can Do.

They Are The Champions – Who Live A Meaningful, Contented, Invigorating Life – In Which They Not Only Manage To Make Their Life Highly Exciting, But Also Inspire Other People To Go For Their Dreams & Do The Impossible.

Many Years Back There Was A Show In India "Ab India Todega Guinness Book Of World Record" – Before This Program Started – Maybe Only 1 Indian Was In This Book Because He Had 7 Foot Long Mustache.

But After This Program Started – Around 100+ Records Were Broken And Got Recorded.

I Remember One Boy Of 13-14 Years Age[Selling Eggs On A Cart In Bhopal] – Who Got Into The Book By Filliping The Omelet 103 Times In 1 Minute By Breaking The Previous England Record Of 60.

Now That Is One Example Of Entrepreneurial Spirit

What Is Entrepreneurship & How It Can Be Defined – In My Opinion The Following Can Help You Understand

  1. Creating Opportunities Out Of Nothing
  2. Breaking The Myths
  3. Shattering The Well-Established Barriers – Of Mind, World
  4. Creating Undreamed Of Needs, Desires By Destructing The Traditional Ways
  5. Making A Business Sense Out Of Something Trivial
  6. Transform The Economies
  7. Change The Paradigm
  8. Revolutionize The Way The World Thing
  9. Making Unthinkable & Impossible Possible
  10. Creating New Products, Services, Processes, Systems , Rules Of Success, New Ways Of Doing Business, Rewriting The Market
  11. Making People Without The Education, Experience, Background, Assumed Low-Intelligence => Create Something Which World's Greatest Universities Study In Awe
  12. Making Your Life & The Lives Of Others More Easier, More Comfortable, More Effective

There Are Off Course Many More Benefits Of Having An Entrepreneurial Spirit.

The Basics Ingredients

  1. Stay Hungry – For More, Better, New
  2. Stay Foolish – Learning Is The Way To Show What More We Need To Learn
  3. Stay Angry – Why Why Why The Hell It Cannot Be So
  4. Stay Curious – What If
  5. Become Sick – Of What Is Happening
  6. Stay Tired & Stay Bored – Of Same Thing, Same Method, Same Routine, Same Taste, Same Dissatisfactio
  7. Stay Focused
  8. Read Trend
  9. Understand Business
  10. Understand People
  11. Understand Your Needs
  12. Understand Consumers
  13. Develop Entrepreneurship Mindset
  14. Discover One Issue If Solved For A Large Mass Of People Can Be Turned Into A Revenue Model
  15. Develop Plan

What The Entrepreneurs Do To Become Successful

  1. Focusing On Future
  2. Aiming For Excellence
  3. Targeting Solving A Critical Problem Of A Significant Mass
  4. Sensing The Emerging Hidden Trends
  5. Thinking Radically Different & Ridiculously Innovating Way
  6. Visualizing
  7. Exploring -Discovering
  8. Believing – Ignoring The Naysayers
  9. Flexibility In Adopting
  10. Creating
  11. Risking
  12. Enabling
  13. Changing
  14. Improvising
  15. Excited By Failures – Perseverance, Not Giving Up

Vision Without Action Is A Daydream…. • Action Without Vision Is A Nightmare…. Japanese Proverb – Anon

Before Starting Please Ensure The Following

  • A.Testing Your Idea => When You Are Ready For That - Please Go Through Following Check-List => Which Is

1.Why Your Idea Is Worth Putting Efforts Into

2.Why Would Somebody Will Pay Money For It

3.Why Would Somebody Buy From You

4.How Will You Make Money

5.What Marketing Channels & Strategies You Have To Ensure Success

1.Take Your Idea From The Grind - How Do You Know This Idea Is Not Just A Damp Squib - Have Bounced This Idea With People Both Types Who Are Successful As Well As Failed

2.Most Business Fail - Why You Won't Fail

3.Is This Idea Solves Problem For A Large Number Of People

4.Unless This Is The Idea That Keeps You Awake & Make You Wake Up In The Night To Add Or Tweak Your Plan - It Probably Is Not Worthwhile

5.Do You Have Any Mentor To Guide You

6.How You Are Going To Raise Money

7.Why People Will Buy From You

8.Your Understanding Of Your Target Market

9.Do You What Competition You Would Be Facing & How Would You Beat Them

10.Do Know All The Marketing Channels & Can You Create A Innovative Channel

11.What Are Emerging The Future Trends & How Your Idea Fits In With That

12.Understanding The Talent You Would Need, Attract & Retain

13.Translating All Above Into Detailed Project Planning - Working Backwards - Test Your Plan => The Plan Should Cover How You Are Going To Start, Launch, Sell, Get Back The Money, Spend, Expenses, Loan Payment Etc Etc & It Should Cover The Cash Flow Management Till At Least Next 3 Years - Which Takes Care Of Your All Operating Expenses Till That Time

14.Doing Project Feasibility Studies

15.Identifying & Enrolling A Team Of Mentors

  • B.What Strengths You Bring To The Idea

1.Why Do You Think Your Idea Of This Particular Product Is SELLABLE

2.Why Is This Idea Unique

3.How You Would Make Money From This Idea

4.Do You Need To Raise Any Money - How Would You Raise The Same

5.Except The Programmer - Are You Completely Sure That You Have The Expertise

6.What You Know About Marketing

7.Do You Know About The Existing & Emerging Trends & The Competition

8.What You Know About Finance

9.Have You Done & Got It Vetted From Experts - Project Feasibility & Project Profitability Testing

10.Do You Know What Resources You Have & What Resources You Need

11.Have You Enrolled Any Mentor

12.Are There Seniors Who Can Help You - If Get Stuck Technically

C.Market Research

1.Posting Questions In LinkedIn, Industry Forums, Blogs, Social Media

2.Participating In The Professional Associations Activities

3.Identifying & Enrolling Mentors

4.Using Crowd Sourcing Platforms

5.Also If You Idea Is Not Copiable - Then Posting The Total Idea & How You Want To Launch The Project On The Crowd Funding Platforms

6.Talking To Your Seniors

7.Talking With Your Other Industry Contacts

8.Finding If Any Industry Research - Done By The Big Consulting Firms Like Mckinsey/BCG/Accenture/PWC - White Paper Exists

9.Doing Research On The Internet & Reading The Trends

D.Enrolling Mentors

1.Identify Entrepreneurs Whom You Believe Can Add Value To Your Cause

2.Identify Seniors[CEOs/Directors/President] Working In Large MNCs In The Same Sector

3.Also Identify Successful Entrepreneurs - From Other Fields => They Can Actually Bring You A Totally Different Perspective & Tremendous Best Practices From Their Industries

4.Now Identify - All The Centers Of Influence [Social Contact/Lawyers/ Accountant]- Who May Have Connectivity With These People & They Have Good Impression Of Yours => Ask Them To Connect You

5.Identify The Industry Forums - Of Which These People May Be Part Of - You Too Join Them & Participate Actively

6.Identify The Conferences Going On In Your Sector - If Possible Grab A Speaking Assignment

7.Start Writing Articles/Blogs - Which Shows Your Expertise As Well As May Add Value To General Entrepreneurs/Your Industry

8.Start Your Page On Linkedin & Facebook & Twitter => Prepare A Nice Profile => Which Tell S People Of Your Qualities & Vision Etc => Get Connected With As Many - Without Imposing & Sounding Spam

9.Identify - What Type Of Mentor Relationship/Help You Are Looking For

10.Get The Contact Details Of Few Of These People - Write To Them - Talk To Them.

11.Get Bumped Into Them In Social Situations - If Possible Become Member Of Similar Clubs

12.Get Yourself A Great Interactive Website

E.You Should Preferably Not Go For A Start-Up - If You Do Not Have The Following Basics

1.An Idea That Solves - Problems For A Large Mass Of People - And You Have Tested That Idea & Done The Financial Feasibility & Viability Study Through Experts

2.Plus Your Idea Has A Niche Of Its Own Giving You An USP

3.Now Comes The Hardest Part - You Should Be Enjoying The Thrill Of Uncertainty

4.You Have Passion To Sustain Your Energies & Motivations Till Couple Of Year Without Lowering It A Bit

5.You Can Handle Failures After Failures & Then Bounce Back & Start Running Again

6.You Are Creative Enough To Find Out Of Box Solutions For All The Obstacles

7.You Should Be Able To Work On The Idea 24 X 7

8.Even If Everything Is Going Wrong & You See Bankruptcy - You Should Still Be Able To Lead, Motivate & Inspire Your People

9.You Can Not Have The Situation That You Start Compromising On Essential Investment - When Money Position Gets Tight - So Your Planning Should Take Care Of The Cash Flow Till At Least 3 Years

F.The Real Entrepreneurship Is All About Following - In Today's VUCA World You Should Be Able To Understand The Following To Leverage Their Advantage

1.Crystallizing Your Ideas Into Very Measurable Forms

2.Testing Your Idea - By Seeking Experts Opinion Globally Through Your Own Mentors, Entrepreneurs, Crowd-Sourcing & Social Media Platforms, Professionals

3.Doing Financial Viability - Due Diligence

4.Meticulous Planning - Understand The Importance Of Mutually Exclusive & Collectively Exhaustive Planning

5.Testing Your Idea - On Your Target Market - In Small Way

6.Improvising To Make It More Effective

7.Learning About The Following - Understand The Importance Of Learning For Yourself & Your Team

A. Leadership - Become Leader Who Creates Leaders

B. Understand Finance => Raising, Spending, Investing, Managing, Making Money & Understanding How All These Are Related

C. Market & Consumer Behavior & Preferences -

D. Identifying & Understanding Current & Emerging Future Trends

E. Marketing Channels Available To You - Learn To Utilize The Power Of Internet In Making Your Business Grow => Identify All Channels Of Marketing To Reach Out To Your Target Segment In As Many Ways & Through As Many Channels As Possible

F. Knowing About Money Finance, Accounts & Costing - How You Will Raise, How Will You Invest, How Will You Manage, How Will You Spend => Understanding Cost Optimization

G. Knowing About The Concepts Which Can Give You Edge Over Others - If Customized & Applied => Like Lean Manufacturing Principals Of Wastage, 6 Sigma For Reducing Mistakes

H. Professional Networking

I. Enrolling Mentors - Understand The Importance Of Having Powerful Mentor

J. How To Utilize The Power Of Internet For Marketing, Talent Attraction, Promotion

K. People's Engagement - Understand The Importance Of Attracting Talent, Growing Talent & Retaining Talent

L. Quality, Excellence & Global Best Practices - Polish Creativity To Focus On Excellence In Every Thing

M. Focusing On Only Adding Value To All The People - Your Employees, Your Customers & Yourself, Your Family

N. Developing Entrepreneurship Mind Set

  • G.Some Additional Tips
  1. Create An Attractive & Convincing Story To Sell - Can You Enroll People – By Exciting Presentations & Selling =>Mentors, Investors, Associates- So That You Can Use ThePower Of

 a. Other People's Effort

b. Other People's Time

c. Other People's Money

d.Other People's Brain

e. Other People's Network & Connectivity

f. Other People's Credibility

Reinvest Instead Of Rushing To Pay Your Debts With Your Initial Earnings
  1. The Middle Class Mentality Teaches Us To Get Rid Of Our Debt As Soon As Possible. One Of My Mentors Taught Me Otherwise. He Negotiated With His Bank To Pay A Bare Minimum Amount Per Month While He Was Drawing A Meager Salary From A Startup He Joined. He Helped Get The Startup To 18 Million In Revenue In 3 Years And Paid Off The Student Loan In One Day.

  2. Rather Than Cremating Your Money In The Loan Account, Pay A Little And Grow The Rest Through Investments At A Rate Larger Than Your Loan Interest. Settle The Loan Amount In A Much Shorter Time.

  3. Invest In Sel

a.Clothing

b.Learning

c.Make Your Self Investable – Where People Feel Safe To Invest In You


  • H.AN ENTREPRENEUR'S CHARACTERISTICS AND SKILLS

  1. ​Salesmanship

  2. Craziness In Your Heart

  3. An Original Spirit

  4. Understanding Consumers And Consumer Attention.

  5. Drive, Patience & Conviction

  6. Inspiration

  7. Focus.

  8. Perseverance Resilient

  9. Flexibility

  10. Learning

  11. Vision Quest

  12. You Engage In "Soul-Centered" Decision-Making.

  13. You Are A Go Getter

  14. You Are A Calculated Risk Taker

  15. Question Experts

  16. BIG VISION, BUT SMALL IMPLEMENTATION

  17. WORK HARD BUT DELEGATE WORK

  18. OVER PROMISE AND THEN OVER DELIVER 14. DON'T SPEND MONEY

  19. Changing The System.

  20. Using Technology To Make It Work For You Entrepreneurs Can Connect The Dots Between What Seems To Be Otherwise Unrelated Products Or Concepts

  21. Keep An Open Mind

  22. You Are A People People

  23. Start On Their Own. The Very Definition Of "Entrepreneur" Includes Self-Starter.

  24. Seek To Stand Out.

  25. Embrace Life-Long Learning.

  26. Pace Yourself – Do Not Get Burned Out Follow Through.

  27. Transfer technology ideas to the market

  28. Successfully position & sell your ideas

  29. Use the basics to develop talent capital

  30. You're Scared – Therefore You Prepare Well

  31. You're Resourceful. 28. You Obsess Over Cash Flow

  32. You Don't Ask For Permission.

  33. You're Fearless In Taking Risk

  34. You Welcome Change.

  35. You Love A Challenge.

  36. You Recover Quickly.

  37. You Listen.

  38. You Focus On What Matters (When You Figure Out What Matters).

  39. Find A New Market For An Existing Product

  40. Use Networking To Build Your Business

  41. Give Without Expecting A Return

  42. Keep Control Of Your Vision

  43. Set Your Product Apart Take Ownership

  44. HAVE FUN

  45. Managing People => Hire Best, Make Them Your Partner, Train, Empower

  46. Understand The Power Of Brand

  47. Focus Your Energy On What's Good For Your Business

  48. Always Maintain Quality Control - Excellence.

  49. How To Make Transition From Job To Business.

  1. Keep Your Present Job
  2. Work On Your Business Idea
  3. Analyze Your Market And Challenges
  4. Assess Your Capital Needs
  5. Explore Crowdfunding Platforms
  6. Network With People
  7. Run A Trial
  8. Gather Feedback
  9. Secure A Small Business Loan If Necessary
  10. FINDING THE PLATFORMS THAT ARE ALREADY THERE
  11. It's Not Fun.I'm Not Going To Explain Why It's Not Fun. These Are Rules. Not Theories. I Don't Need To Prove The
  12. Get A Customer. Build The Product. Get A Customer. Get Money From Customer. Get More Customers. Build More Services In The Product. Get VC. Chances Are By This Point, The Vcs Are Calling You

  13. It's OK To Fail.Start Over. Hopefully Before You Run Out Of Money. Hopefully Before You Take In Investor Money. Or, Don't Worry About It. Come Up With New Ideas. Start Over.
  14. Communicate With Everyone. Employees. Customers. Investors. All The Time. Every Day.
  15. Give Employees Structure.Let Each Employee Know How His Or Her Path To Success Can Be Achieved. All Of Them Will Either Leave You Or Replace You Eventually. That's OK. Give Them The Guidelines How That Might Happen. Tell Them How They Can Get Rich By Working For You.

J.Some Facts – These 12 Facts Were Taken From Internet

1.Entrepreneurs Are Not "Born"…They "Become" Through The Experiences Of Their Lives

2.Entrepreneurs Have A Great Diversity Of Personal Characteristics, The Common One: Being Willing To Take A Risk In Return For A Profit.

3.Anyone Can Be An Entrepreneur At Any Time Of One's Life.

4.Although There Is No Educational Degree Requirement To Become An Entrepreneur, It Is Helpful To Have Developed Good Support Skills Including Communications, Interpersonal Abilities, Economic Understanding, Digital Skills, Marketing, Management, And Math/Finance Skills.

5.Entrepreneurial Ventures Are The Major Source Of New Jobs In The Economy…For The Owner And For New Employees.

6.Entrepreneurship Is NOT Learned By Reading A Textbook And Then Taking A Test To Prove You Are One.

7.Young People Can Build Confidence In Their Abilities To Become Entrepreneurs In Their Future As A Result Of A Variety Of Entrepreneurial Activities Provided Throughout Education.

8.Entrepreneurship Education Activities Are A Real-Life Vehicle For Developing Academic Skills.

9.Entrepreneurship Education Enables Employees To Be More Successful As A Result Of Understanding The Operations Of A Small Business And The Problems Of Their Boss.

10.Entrepreneurs Are Found In Every Occupation Or Career Cluster

11.Entrepreneurship Education Opportunities Are Important At All Levels Of Education, From Experiences For Elementary School Children Through Skill Development For Existing Entrepreneurs.

12.The Definition Of "Entrepreneurship Success" Varies With Reaching The Goals Of The Individual, From Part-Time Income To Fast-Growing Corporate Structures.

​Values based leadership
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