Say YES! to Success Peg Stookey – Founder of Legacy Connection

What We Are: INNOVATIVE!

First, let me ask the question that you might be wondering about.  Why the focus on innovation? We utilize the Legacy Entrepreneurial Cycle of a Healthy, Sustainable Business to help our owners build long-lasting businesses.  It's comprised of 4 phases of the developing business: Discovery, Beginning, Growth and Innovation.  Again, why the focus on innovation?

Simply: INNOVATION is the engine that powers the growth machine.

Without innovation, a business, any business, will die.  Innovation is the shot in the arm that most businesses need right now.  We feature it as one of the 4 phases because without Innovation a business is simply not sustainable.

I believe that by definition, entrepreneurs are innovative.  We are opportunity seekers.  We see the world as a place of discovery and possibility, not obstacle and roadblock.  For some, this comes easy.  They have the "entrepreneurial gene".  Others though are plagued by past education and training as good employees.  In fact, most of us have the "employee mindset illness" to some degree.  And why not?  Our school system is designed to "produce" good employees.  As our recent (and really wonderful) speaker, Jay Kayne suggested, "We are taught to follow the leader, to stay in a straight line, to color within the lines".  Students that challenge, say "no" or stray out of the line are not rewarded and may be punished.

How many have been raised in a truly entrepreneurial family?  Not many.  Most people starting businesses today have come from good, hardworking families and have, in fact, been good, hardworking employees for most of their lives.

How then, do you become innovative?  PRACTICE, PRACTICE,PRACTICE!  Hang out with innovators.  In a recent post on Youthanizing your business I suggested that surrounding yourself with young minds can spur innovation.  Try saying YES!  Ask these important questions-daily:

• What if?
• How can I?
• Is it possible?
• I wonder if?
• What would happen if?
• Could it happen?
• Why not?

We talk a lot about accountability partnerships.  How about joining with someone else to motivate each other and to brainstorm together?  Come to an iConnection session to help you Ignite Innovation!  Do you keep a journal?  Some of your best ideas will come when you can't act on them.  Dedicate a portion of your journal (or a file on your computer) to idea generation.  Honor your creativity and ideas by writing them down.  This practice will not only help you to archive your treat thoughts, it'll allow you to stay on track and maintain your focus.

What about that other common affliction, entrepreneurial ADD?  Once you get into the mindset and the habit of being creative it can be difficult to turn off.  It's like you've created this monster that needs to be tamed.  Ideas and opportunities will suddenly be popping up all over the place.  IT'S IMPORTANT TO MAINTAIN FOCUS.  That's another reason for the journal.  By documenting your thoughts you can put them aside without fear of losing them or of being taken off track.

I have to admit, this is an area in which I've had a LOT of practice!  I get ideas by the bucket load, love to begin things and then get bored, disinterested or it gets to be too hard so I shelve it.  I'm working really hard on prioritizing and "vetting" my ideas but it's not easy.  People ask me all the time, "Where do you get your ideas from?".  That's easy!  I've placed myself squarely in the center of a community with unlimited needs.  All I have to do is pay attention, ask my customers important questions like, "What do you need?" and then.....LISTEN!!  If I can fill the need by creating something new or revamping something already in existence, I do.  Sometimes I hand it off to someone better suited to fill the need.  Sometimes I help them to create new opportunity-man, that feels good when it happens!

As a Community, we foster and encourage innovation.  As individuals we strive to be more innovative.  My hope is that as a culture, we become more innovative as well!  Are you ready to step out of your comfort zone to seek new opportunity, create new relationships, try new ways of running your business?

Say YES!

To your success,

Peg

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

What We Are: We are PROACTIVE

Peg Stookey, Founder & CEO of Legacy Connection

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!!

There was once a time, very early in the company’s history, when I was having trouble articulating what Legacy Connection was to a group of business owners.  After a few furtive tries, one gal said, “Oh, I get it!  You’re a proactive approach rather than a reactive one.”  YES!!!!  Just like that-she GOT IT! (and I got an easy way to define the company!)

How are we, as a community, proactive? Why, as I’ve asked in other posts under this category, is this important to YOU?  I’ll attempt to answer the second question first.  One reason that it’s important is because in order to be successful YOU need to be with others that will help drive and model success for you.  Being around proactive people will help you be proactive-not just in the Legacy Community but in LIFE!

I’ve been working with a client for the past few months to help her structure a business model in which she will find herself at her “competitive best”, her “niche”, so to speak.  I’ve encouraged her over and over again to seek a way to differentiate herself as being proactive because her field of work is highly reactive.  Consultants such as herself get called in to fix problems, not prevent them.  What would it mean to be on the forefront of prevention?  Not only will she create a new and different marketing message, she will help her clients avoid costly and potentially tragic results.  I’m betting her name get’s around very quickly!

As a community and as a learning system we model proactivity in numerous ways:

• Our branding is a good place to begin.  The black background represents that which is the root cause of ALL failure-LACK OF AWARENESS.  Knowing that, aren’t you already more aware?  Don’t you want to proactively seek the answers to what you don’t even know yet to ask?  Think about it…….

• Our learning system is a development program.  Just like childhood development, knowing about the phases of the development of a healthy, sustainable business: Discovery, Beginning, Growth and Innovation gives you the power to BE proactive.  Every time you hear/see me talk about the phases of entrepreneurial development you’re able to see into the future.  If you find yourself in an innovative phase you know, in a proactive way of thinking, that before you begin you must discover, research, ask questions.
• As I said earlier, Innovation, is one of the four phases of development that we emphasize.  Innovation is necessary-no, let me be more clear; Innovation is required in order to continue or accelerate the growth of your company.  Innovative, opportunity-seeking mindset is a proactive mindset.  Asking questions like, “What if we….?” and “Can we…?” are critical to growing a sustainable, lasting business.

I could go on for a while but I want to ask you two important questions, “Can you see areas of your business in which you could be more proactive?”  I know that I can!  “What difference would it make to the future of your company if you took just one proactive step today?”

Food for thought….AND action!

Peg

What We Are: We Are TRANSFORMATIVE

Peg Stookey, Founder & CEO of Legacy Connection

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!!

This is a continuation of a series on “We Are…”.  In the spirit of full disclosure and transparency, this discussion of “what we are” may be more of what I see happening and hope that we become more known for than what we’ve ever actually stated before.  It’s like a new realization for me, one that has been consciously raised because the word and concept of “transformation” keeps coming up.

So, it is actually my goal and deep desire that we are increasingly known for being transformative.  What exactly does this mean and WHY IS IT IMPORTANT TO YOU?

First, transformative, in the context in which I’m using it, means that as individuals we change-consciously.  It demands that we are involved; proactively making choices, setting goals and taking risks while measuring results and evaluating our actions.  Undergoing individual transformation demands that we ask the questions, “How do I define success?”, “What needs to change in order for me to be more successful?” and then, “Am I prepared to DO something when I find the answer?”.

As a community, being transformative means that we provide the support structure to make individual change possible and that we support and encourage transformative thought and action.  It also means that we are proponents of transformation.  I for one do NOT believe in simply maintaining the status quo.  I believe in challenging it!  Isn’t that the core of entrepreneurism?

As an individual or as part of our community this might be important to you if

• you see/feel the need for change in your life and in your business
• you want support in making change
• you're tired of the "same old, same old"
• you want to contribute to someone else's success
• you're satisfied NOW but want to be prepared for a time when transformation WILL occur

Here’s an example of transformation that is happening NOW.  I’m working with a group of collaborators to develop an entrepreneurial education system that is definitely transformative.  In fact, we’re using the term “transformative learning” to describe it.  When finished it will be a system of learning that will truly transform a person from one state to another: from employee to entrepreneur, from failure to success, from status quo to new possibility, from stagnant to alive, from individualist to collaborator, from being competitive to becoming their competitive best.

Another example:  Today, I transformed an enclosed mass of weeds and dirt into a garden.  I worked for hours to till the soil, remove the weeds, plant vegetable and fruits, feed and water.  The result is that, yes, the earth was transformed, but so too was I. I thought about this piece that I was going to write and how the change in the garden represented the change within me, the change within our community, the change within our community members and the change in those that we have yet to touch.  It’s an awesome challenge and responsibility but like the nutritious soil of the garden, we have all that we need within to accomplish this goal of being truly transformative.

I invite you on this journey of transformation, renewal and possibility!  Join me?

Say YES!

Peg

I’ve been thinking…..

I know, I know.  That sounds really dangerous doesn't it?  Me?  Thinking?  Actually, for those that don't know me well, I'm a pretty thoughtful person.  Lately I've been doing a lot of networking with the leaders of other business organizations--Learning what their primary challenges are, what they do best, what they need and most importantly, what their constituents need.  This high level, strategic  networking has caused me to think a lot about what we do and, more importantly, as an organizations of entrepreneurs, WHAT WE ARE.

MORE IMPORTANTLY THAN "THINKING" THOUGH IS THAT IT HAS CAUSED ME TO ARTICULATE "WHAT WE ARE" OVER AND OVER AND OVER.  And....because I can and want to, I'd like to share some of these thoughts with you.

Over the next week or so, I'll be writing about some of our core, entrepreneurial philosophies and, most importantly, how they affect the individual business owner.  I'll put these posts under a category called "What we are" and then whenever we add a new benefit or uncover a core philosophy I'll post it there.  Knowing me, you'll also find a great deal of the "why" of what we do AND ARE.  I just can't help myself!

First, what will you do with this information?  Why is it important to you?   Here are some thoughts....

1. Building a business is hard.  You want to affiliate with those that can make it easier.
2. I believe in transparency.  You should too.  When you read what I believe in and how it gets transferred into our business model you'll know if our organization is a good fit for you.  You'll know if you want to be around me and those I "hang" with-our community.  If you're not yet a business owner, you might also get a feel for what it is to BE an entrepreneur.  My sincere hope is that we might help you make good decisions about your future!
3. I've done a lot of research into what it means to be a successful entrepreneur.  While I know that some have a natural tendency others can learn.  In sharing what we know, can we help others to be successful-faster and more sustainably?  YES!
4. We all need to be challenged in order to grow.  Sharing my thoughts will challenge yours--and hopefully, you'll challenge mine as well.
5. I'm ready for a deeper dive into the "why" of what I do.  Are you?  If so, I'll help you model this best practice of thinking about and honing what WE are.
6. You might want to share "what we are" with others.  Here's an easy place to do that.
7. Most importantly, if I do a good job of articulating the "why" and "what" of what we are I believe that you'll find some commonality, some best practices, some differentiation and some clarity around WHAT YOU ARE!

Watch for my upcoming posts and be ready for all kinds of "tives"!  Ready to dive in?

Say YES!

Peg