SUCCESS & INSPIRATION TUESDAY FOR ENTREPRENEURS

Success

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As an entrepreneur you have to constantly be willing to change, learn, let of of and recommit.  By that I mean as technology changes and it does so rapidly, how you does your business change?  Language also changes along with that.  To keep up you have to constantly be learning new things, constantly moving way outside your comfort zone.  That also means letting go of the way you looked at your business, your market.  It means being fluid and changing while at the same time keeping your business vision clear.

To do that you have to be willing to look at your business from the outside instead of its creator and protector.  You have to be willing to look at its flaws, weak places and areas when it just plain doesn’t work.  This is not a one-time event.  This is something you have to keep doing.

So, how do you keep a business going while you are changing it?  The change isn't  usually, but sometimes can be, not in the basic concept but in the way you deliver that concept.  How do you get your idea, product, service out there in the best possible way to serve the population it’s designed to serve?  That’s the question that has to be before you all the time.  

With a product it’s a lot harder to do.  With a service while it’s time consuming but a lot easier.  But never-the-less even with a product you have to be committed to making the change.

Sometimes someone will come out with a similar product so you have to find a way to distinguish what you have from the competition.  That might mean making new models or molds which can be a very expensive process.  But nevertheless to succeed you have to find a way to do it.

With a service you have be be willing to learn each time you deliver your service,  How can you improve on it based on the last experience with it?  What did you clients/customers teach you about how to make it better?  

We have to constantly learn from our competitors, clients/customers.  Which means you have to be very aware and willing to not be so wedded to your original concept that you can’t update it.  At the same time, there is something exciting about making your product or service better and better and better.  It keeps you and your business alive. And it’s that aspect that makes it easy to recommit to your business over and over again.  It’s the best adventure there is!

INSPIRATION




You’ve heard the expression  - “Where there’s a will, there’s a way.”  I saw it again in action on Friday at What’s The Big Idea? pitch event.  Everyone who pitched was a graduate of PITCH U 8 Week Intensive which trains entrepreneurs how to pitch to investors and important clients.

This particular group was unlike previous groups in that although they had great products they had almost no experience of how to present their amazing offerings.  Every time they got up to pitch as a group they were unsure and halting.  Because I feel responsible for people who go through PITCH U “getting it.”  I was almost in despair.  We rehearsed and rehearsed.  I saw some improvement but not enough that investors would actually listen to them.

I was trying to figure out what else I could do and then I decided to just relax and let them do the best they could.  I felt I had to change tactics and be supportive of them.  Whatever they could do would be good enough.  My investors are always very kind and try to support the entrepreneurs who are pitching by pointing out the best course of action for them moving forward and asking the right questions to find the information that needed to be out there.

Well, last Friday night came.  I was nervous, of course.  But also resigned and told them to just do their best.

The first person got up to present their pitch.  And, it was really, really good.  Then the next and the next and the next until all six had given their pitch.  And all within the six minute limit, I might add.

They blew me away with how good they all were.  Each of them rose to the occasion and they used what they had learned and brought it all together at just the right time.  I was amazed, happy, excited and so proud of them.

The feedback from the investors was that this was a very interesting group of entrepreneurs with interesting businesses.  As the entrepreneurs follow up I will know more.

The point of all of this is that whenever we need to do something even if it’s something we’ve never done before if we have to do it we find a way.  It’s amazing the things we can do.  That says to me that inside of us is a force, a power, an ability that can do whatever is required when it is required.  Knowing that maybe we can relax more and trust ourselves to do what we need to do.Another way to say it is perhaps we need to have more faith in ourselves and the magnificent beings we are.  I remember a poster from long ago that said, “God don’t make no junk!”  We each are living proof of that.

INSPIRATION

Why your business strategies must constantly change
Change is the one true constant in business. Having defined processes in place to effectively manage change can help companies sustain success.
by Moira Alexander

“If you do not change direction, you may end up where you are heading.” -Lao Tzu

In the business world, change is all around us, almost every minute of the day. It can come in the form of

    Stakeholder expectations
    Human resources
    The environment (Internal or external)
    Management
    Organizational structure
    Policies and processes
    Regulatory/legislated changes
    Cash flow
    Competition
    Products or services

…and myriad other forms. Merely acknowledging these changes is not sufficient to provide for successful business outcomes.

In today’s business environment, knowing how to successfully navigate these changes and develop appropriate and effective processes to properly manage such change is a must. It’s virtually impossible for organizations to make sound strategic decisions and completely accomplish objectives when deprived of strong change management strategies. This is especially true in the world of project, program and portfolio management, where obstacles and ambiguity are inevitable at every juncture.

Chief Change Officers

In order to become true officers of transformation, today’s business leaders will not only need to take a closer look at the projects and how they fit within the business portfolio, they’ll need to remain nimble enough to constantly evaluate both projects and portfolio to ensure alignment with overall business objectives.

Embrace Change

It’s important to note that, although change often is seen as a bad thing, it has the potential to be just the opposite – as long as strong business leaders deploy people, processes and technologies effectively for the purpose of improving, progressing and building a stronger competitive advantage.

Although change can be exhilarating for the business and leadership team, it’s important to recognize it can be terrifying for employees. In order to effectively address change, the leadership team and EPMO will need to carefully cultivate a positive and productive internal environment where employees have trust in the management team at all levels. Additionally, it’s imperative that employees feel and believe their contributions are not only needed, but highly valued, and that change will not negatively impact their roles within the organization.

Strive to successfully identify, effectively manage, accurately measure, closely monitor and clearly communicate changes and change management strategies throughout their organizations. This will facilitate and drive business strategy in a way that positions their organizations to achieve and maintain the levels of success they envision.