Successful, Sustainable GROWTH Requires:
Awareness, Education, and Implementation
Actually, ANY kind of success requires awareness, education, and implementation. First, let’s clarify what kind of success we’re talking about. In this case, because our focus this month is on entrepreneurial growth success, that’s what we’ll stick to but this is one of those “teaching moments” that can easily apply to many areas of your life: career, parenting, volunteering, etc. We’re not just talking about passive success though. This is a recipe for PROACTIVE SUCCESS. It won’t just happen. YOU have to take responsibility for committing to success and then taking the steps to achieve it.
Let’s rephrase and break down “the recipe” so you can see what I mean. How about this? PROACTIVE, sustainable success requires: Awareness, Education, and Implementation.
Peg’s “success recipe”:
- AWARENESS begins by defining the problem. What do you need/want to succeed at? It’s helpful to identify realistic, quantifiable (measurable) goals. Then, and this is very important, assume that you don’t know everything. I often say that the root cause of ALL failure is lack of awareness. It’s easy to say but not so easy to overcome. The only way to get past this is to consciously assume that you don’t know all of what it will take to succeed at this particular venture. Then, GET CURIOUS. Begin to ask questions, seek our experts and advisors, do some research, etc. Finally, ASSESS what more you need to learn in order to be truly successful.
- EDUCATION follows and can come in many forms. You might take an official class or course of study but much more likely is that you’ll “self educate”. Read a book, search the web, talk to experts, take a training class, etc. You can greatly accelerate your success in learning by surrounding yourself with the right people. If they don’t have the answer they can steer you in the right direction! By the way, I’m a HUGE proponent of continued education in the area of entrepreneurism. CE is generally required in the corporate world. It amazes me how people who have “grown up” in that world so easy step into the small business environment and think they don’t have to keep learning. (enough editorializing!)
- Implementation is where the rubber meets the road. How many times have you attended a workshop or seminar and then, DID NOTHING? Oh yeah! I’ve been there too. Taking ACTION is the hard part of being PROACTIVE. This is where an accountability system can really help. Do you have a partner, colleague, co-worker, friend, etc. that can help you? It’s great to set up this arrangement BEFORE you need someone. I have several accountability systems that I use for different purposes. I belong to a CEO roundtable, facilitate several small groups, have an advisory board, and, probably most importantly, have 2 or 3 friends/colleagues that I trust to give me good feedback-and I use them as sounding boards!
With this “lesson” we’re wrapping up 3 months of focus on “Growth”. In our Legacy ACCESS Entrepreneurial Development Cycle this means that next month we’ll move to Innovation (The 4 phases in this cycle are Discovery, Beginning, Growth and Innovation). As I’m sure you’ve seen and or experienced in this “new economy”, GROWTH does not continue unless you INNOVATE!
At our upcoming Legacy Connection Community meeting we’re honored to welcome Dr. Jay Kayne, director of entrepreneurship at Miami University. Jay is one of the regions best kept secrets! He’s an expert on innovation/opportunity seeking and has recently launched a new venture to teach and empower innovation.
You're invited....
July 1st
8:00 AM Networking
8:30-10:00 Working on the Biz!
4555 Lake Forest Dr, Blue Ash, OH 45242
Suite 590
I hope you'll.......SAY YES!
Peg Stookey
Founder of Legacy Connection
What We Are: DEVELOPERS of Entrepreneurial Mindset
What is an "entrepreneur"? This series of posts is my attempt to enlighten us all on this vast topic. I'd love to hear what you think being an "entrepreneur" is!!
I was recently posting an article to www.franchiseprofs.com which lead me to think about what is means to be "entrepreneurial". Literally, I'VE EXPERIENCED MORE CONTROVERSY OVER THIS TERM THAN AROUND ANYTHING ELSE THAT I/WE DO!
Here's an excerpt of what I wrote:
The Encarta dictionary defines it (entrepreneur) simply as “risk-taking businessperson, somebody who initiates or finances new commercial ventures”. I’m going to have to write to Encarta and respectfully DISAGREE!
First, you can’t possibly sum up the definition of something so complex in a mere 12 words. I tried searching “entrepreneurial” to see if I got anything different. The same definition came up. I tried the thesaurus and got words like capitalist, industrial, consumerist, consumer, commercial. Still-way off the mark! For one thing I know many entrepreneurs that can’t seem to finance even the smallest venture yet they hang on! I also know a number of investors that are financing ventures. I REALLY don’t think that makes them an entrepreneur. I do agree that two of our (I consider myself an entrepreneur) characteristics are risk-taker (in the sense that we’re willing to take a risk-just not stupid risks), and that we are initiators. But, as a whole, that definition is just way to limiting.
So, here’s what I’m going to do. Rather than wasting time fighting with the powers that be at Encarta, I’m going to simply redefine this so misunderstood word-FOR OUR PURPOSES. Why can I do that? BECAUSE I’M AN ENTREPRENEUR. I create my own future. I’m willing to risk being misunderstood for the reward that it will bring us all. I’m proactive and ready to step into the fray. I’m centered on my mission and willing to overlook an inconvenient untruth to stay focused. I’ve surrounded myself with others that support me in this thought. Because I’m the boss of me and I say I can.
ENTREPRENEURIAL (as defined by Peg Stookey, one who lives the word-how many at Encarta can say the same?): a state of mindset and of being that reflects ones commitment to seek new opportunity, to fill a gap of need, to create, to generate, to seek, to ask compelling questions like, “What if…?”, “Can I….?”, “How do I….?”, to take control of ones future, and yes, to find the best way to make money in doing so.
Another definition: LEGACY ENTREPRENEURISM
This is a concept that I work under that, in essence, is entrepreneurism with a higher, more personal purpose. In my world, “legacy” equates to choice and to long lasting, or sustainable, success. Putting them together it means that we consciously make choices today that will affect our future and the future of our descendants and perhaps, of the descendants of those that we touch with our businesses, products, services, relationships, etc.
Legacy Entrepreneurism is a phrase that I use to mean that by activating and leveraging entrepreneurial mindset an individual can accelerate and take control of their future, making choices that will lay a firm foundation for future success and lead to the creation and growth of efficient, profitable and valuable businesses.
Why are these definitions important to you? Why do you care how WE define "entrepreneur"? Maybe you don't but.......I believe that it's a critically important level of awareness (remember that I love to say that "lack of awareness is the root cause of ALL failure!" Do you really WANT to succeed?). Most people that are starting businesses today (upwards of 90%!) come from long-term, employee situations. They have learned VERY well how to be a good employee, how to play the game, how to climb the ladder, how to negotiate the politics. NOW, for whatever reason, they are suddenly starting a business. Is it any wonder that they are operating from "employee mindset"? Does it make sense to you that remaining in employee mindset is largely responsible for small business failure?
WHERE/WHEN DO YOU FIND YOURSELF SLIPPING INTO EMPLOYEE MINDSET? Do you blame others or are you accountable for ALL? Do you take initiative or do you wait for others to do so? Do you seek opportunity or complain that there is none? Do you see yourself as the CEO or as the "technician" of your business? DO YOU REALLY GET THAT YOU CAN GENERATE $$$$?????
Please read this last sentence again.....DO YOU REALLY GET THAT YOU CAN GENERATE $$$$????? That's what sets YOU apart from those with employee mindset/skill set.
To YOUR success!
Peg