“Success begins with preparation but ends with execution”
In a previous article titled, “The 3 Highly Effective Habits of Business Success”, I outlined 3 key habits necessary for preparing for business success.
The article stressed the importance of learning, thinking and planning as crucial factors in the preparation for success both in business as well as in life.
In this article however, I will be discussing the 4th highly effective habit of business success.
This concluding article is in response to the feedback I got from my readers, most especially Elise of Elisesreview blog and Brenda of Mindrecipes.
They both pointed out the need for a 4th habit of business success which as a matter of fact, I had considered including in the first article but had a rethink when I realized I had written up to 3000+ words already just explaining the first 3 highly effective habits.
Therefore, I encourage you to join me once again on this unusual journey as we explore the 4th habit that brings about business success. As always, I urge you to share your views, thoughts or questions in the comment box below this article so as to help expand the knowledge therein.
As you’ve just seen, this article is a derivative of the feedback gotten from those who didn’t just read, but also contributed to the overall relevance of the article by leaving a comment behind. Always bear it in mind, knowledge shared, is knowledge expanded!
EXECUTION – the art of producing results!
The 4th highly effective habit of business success is execution. The great Isaac Newton once said, “All objects are at a state of rest until an external force is applied”.
Meaning; without taking action, everything else remains at a standstill. Every great accomplishment either in business or in life came as a result of certain actions executed by certain people in a certain way at a particular period in time. Nothing simply just happens by itself, people make things happen by taking certain calculated actions.
This is why execution is such a critical element in the composition of highly effective habits that brings about business success. This is because in the final analysis, it’s not what you know, thought, and even planned about that ultimately brings about success; rather it’s the eventual actions you took that brought about the success.
So without the presence of the 4th habit of execution, business success will only remain an imagination and may never become a reality.
Why is Execution so damn important?
Preparation which involves the cultivation of 3 highly effective habits of learning, thinking and planning helps you begin the process of achieving business success, but without execution, which involves putting into action all that you’ve learnt, thought about and laid out in a logical plan, all you’d ever accomplish is remaining in the process but never actually achieving success.
Preparation is getting ready for the game, while execution is getting into the field and playing the game. You see, you can prepare all day long, but if you never make it to the field and actually start putting to use all the skills you’ve acquired from practice (preparation), your chances of succeeding are not only slim, but absolutely non-existent.
It is only execution that has the potential to deliver success. That is, the measure of your preparation is the outcome of your execution. We know how well you’ve prepared when we see how much you’ve accomplished.
Until your actions (execution) produces certain results (outcome), all your learning, thinking, and planning (preparation) is regarded as effort (activity). In other words, until your execution produces certain outcomes, all your preparation is just activity. And activity (effort) is not a yardstick for measuring success, productivity (outcome) is.
How do I mean?
Each of the 3 highly effective habits of business success; learning, thinking and planning previously discussed produces certain outcomes which increases the odds of succeeding. They indicate how close or far you are from your predetermined destination, goal or objective. For example,
- the outcome of learning = knowledge (acquisition of information)
- the outcome of thinking = insight (comprehension of situation)
- the outcome of planning = strategy (formulation of action)
As you’ve probably noticed, none of these 3 outcomes of knowledge, insight and strategy clearly points to or suggests a yardstick for measuring success. They are only tools or indicators of success, they are only predicting the possibility of success occurring.
They don’t in anyway produce an outcome that will clearly reveal success or not. As a result, there’s need for one more habit, the habit of execution which will ultimately produce an outcome through which success can be objectively measured. Therefore,
- the outcome of execution = result (valuation of success)
After all is said and done, success is measured by results. Results are the feed backs you get from execution that makes valuating success possible. Without execution which ultimately produces results, it’s impossible to assess success. Making sure that your execution has the potentials to produce results is the subject matter to which we now turn.
How to Execute for RESULTS!
When it comes to executing for results, two factors are fundamentally necessary. They are;
EFFECTIVENESS – doing the right things
Before you begin to do what it is you need and should be doing in your business, be sure to ascertain that you are about to do the right thing(s). Often times, because of the pressure that the world of business mounts on us entrepreneurs, we tend to trade what is important for what is urgent.
We run after the good things at the expense of the right things. The irony is this; good things are not always the right things, but the right things are always good things. Therefore, never be in a rush to execute that you forget to align your actions with your predetermined objective(s).
Effectiveness is not so much about doing several things; it’s concerned primarily about doing the right things. Those set of activities or actions that contribute to the overall purpose or mission of your business.
Effectiveness is about remaining true to your core. Never letting the rush to get things done, influence what is being done. Effectiveness is never relenting to ask; “are we headed in the right direction?” “How does this action impact where I am headed?” “Is it getting me closer or getting me farther?”
EFFICIENCY – doing things right
Having made sure that you are on the right track (doing the right things), you want to be sure you’re doing them right. It’s not sufficient to be doing the right things if you go about doing them wrongly.
Your actions must be in alignment with your objectives (effectiveness) and those actions must be well taken (efficiency). The focus of efficiency is about managing the process of execution.
How well are you implementing your knowledge, insight and strategy? While effectiveness bothers about, on what activities are you implementing your knowledge, insight and strategy?
In the world of business, effectiveness is a leadership priority, knowing what to pursue as a business and what to overlook.Knowing what market to enter and which to stay away from. It’s about picking the right battles to fight.
Efficiency on the other hand, focuses more on management, knowing what tactics to use, what formation to employ and how many soldiers are needed for every battle. To understand efficiency, you must never fail to ask this question; “how well are we being effective?” In other words, “how well are we doing the right things?”
I have written an unusual article on how to build an effective organization, avail yourself with it by clicking here;
The 4th highly effective habit of business success is Execution and it entails effectiveness + efficiency. This means, success is about getting desired results by doing the right things and making sure they are consistently being done in the right manner.
In other words,
Execution (actions) = effectiveness (right actions) + efficiency (taken rightly) = success (desired result)
Has your business IQ increased as a result of reading this article?
Business success habits requires several compounding efforts. The key word here being ‘compounding’, suggesting that success is not ONE stroke of fate but the summation of several calculated trials and efforts expended along a consistent direction.
You can never achieve success in one day. It’s a journey one must embark on every day and never a destination one intends to stop. To make this journey, the success or failure depends on your preparation.
Success they say is when opportunity meets with preparation. To succeed, you must train yourself first to identify opportunities, then look for ways to seize those opportunities.
In other words, success is developing the ability to recognize opportunities and developing the capacity to seize those opportunities recognized. Most times, when you see great achievements, don’t just marvel at the results, find out what specific actions was taken before they got the kind of results you now admire.
It’s those set of specific actions that gave birth to the results you now admire. You cannot hope to achieve the same kind of results they achieved by simply studying or copying the results, never. To get the same results, you’ve got to identify, learn, master and take the same set of specific actions.
Identifying those set of specific actions capable of yielding SIGNIFICANT results in your business is the focus of this article. By reading this article, I hope to help you identify, learn and master the 3 highly effective business success habits that will guarantee more positive results in your business.
A little word of caution!
This is an unusual article about 3000 words long! Which means, it could seem pretty long at first sight, but I beg your indulgence, kindly exercise the patience to go through it all gradually? Please don’t scheme, every single word are in their rightful place, nothing is out of place, if it weren’t so I wouldn’t be giving you this pre-information. It was written specially for you, in case you’re in a hurry right now and can’t read it all at once? Here’s what you can do; send it to your email, bookmark it, print it out, copy and save in MS word, retweet it on twitter, do whatever you like, but just make sure you read it and read as if your life depended on it, because it does! Trust me 🙂
Preparation is the KEY to success
As the great inventor and businessman Henry Ford once said; “before everything else, getting ready is the secret of success.” They are the behind the scene habits that constitute external success or victory in any given endeavour in life and in business. As a matter of principle, preparation is the most vital element of achieving success.
As former coach Bobby Knight once put it;
“the will to succeed is important. But I will tell you what’s more important; it is the will to prepare!”
After all is said and done, fortune will only favor those who are fully prepared to seize opportunities when nature makes them available. The first use of your time as an entrepreneur is in preparing to become the qualified person for the goal, vision or dream you seek. You the dreamer must first and foremost grow and develop yourself to match the size of the dream you seek.
What then are some of the habits that constitute preparation? They are basically three and come in this order; (LTP).
3 Highly Effective Business Success Habits
These are the 3 highly important habits that will not just guarantee success in your business but also in your life. Learn them; master them and then go ahead to apply them in your life and in your business.
Our ability to do is constantly limited by what we know. Therefore, in order to be able to do more, we must perpetually expand our knowledge through learning. Knowledge is therefore the power to do. Without knowledge our ability to do is limited.
So the first kind of business success habits to develop in order to equip and empower yourself for where you want to go and who you want to be is learning.
Learning is the willingness to acquire the knowledge, attitude and skills required for the dream, vision or goal you seek. Learning is perpetual; we are never through with learning. It’s a lifelong habit!
How do you learn?
Learning basically comes from two sources;
1. Study: this describes knowledge or skills obtained mentally. It could be done through one; personal reading of books and two; being taught by someone else.
2. Observation: this involves knowledge or skills acquired socially. They are obtained from the environment in which you find yourself and the experience, either yours or that of others. The environment comprises learning from your immediate surroundings and they constitute both positive and negative experiences and events. That means you should be learning from your mistakes, successes, failures, victories and loses as well as that of others.
What should you be learning?
They are basically three dimensions of learning;
1. The ‘why?’ is the purpose for the kind of dream, vision or goal you seek. Do you have a reason for wanting what you so desperately seek? Do you know why you want to achieve that goal, dream or vision so badly? Why is it so important for you to be successful for example? Do you know why being successful is so important? Why do you want to build a successful business or life? What is the purpose of success to you? Why do you need to be successful?
The ‘why?’ is the first kind of knowledge you should seek, because it brings into perspective all other things which you still have to learn. Without a healthy reason for chasing a dream, vision or goal, we end up becoming victims and prisoners of our own dreams, visions or goals. We compromise on the right principles, standards and values that naturally would have preserved whatever it is we so desperately seek.
The ‘why?’ serves as a fuel (motivation) to propel you towards learning other things you need to know in order to have the dream you seek.
The ‘why?’ ignites your passion to endure the whole preparation process. It constantly keeps your dreams, visions or goals in check making sure your actions, attitudes and thoughts are all in line with what you desire.
If the ‘why’ isn’t big enough, the ‘what’ (dream) will appear too difficult for you to achieve and the ‘how’ (process) will appear too difficult for you to endure.
Your reason (the why) must be big enough to give you the required energy to embark and stick to the process (the how) in order to fulfill your dream, vision or goal (the what).
2. The ‘what?’ is the vivid knowledge of what you seek. The ‘what?’ is the clear picture of the desirable future you so desperately seek. Do you know what exactly it is? It answers the question; “what exactly do I want?” “How well do I know this dream, vision or goal?” “How will I know when it is eventually achieved?” “How am I so sure this is what I really want?”
Knowing the ‘what?’ helps to clarify your focus. It puts your dream, vision or goal into the right perspective. That is; the way it ought to be not the way you perceive it to be. Many of us want and pursue dreams, goals or visions we don’t even fully understand, how then do we intend to achieve them?
For example, most people don’t understand what it means to be successful in business and in life, yet they hunger and thirst after success. Without a clear understanding of the goal or vision you seek, there’s every possibility that you won’t recognize it when it comes or worse still settling for something lesser than what you originally set out to accomplish.
If you’re going to spend your life pursuing a goal, dream or vision, wouldn’t it be wise to first spend ample time learning about the goal, dream or vision?
Pursuing a goal, dream or vision you don’t fully understand, is like chasing thin air; you would only be busy doing nothing. So learn about that particular dream, goal or vision you seek. What would it look like when it’s finally achieved? What are the obvious characteristics of the dream, vision or goal? What will be the signs of the dream, vision or goal once achieved?
In this case, what will success in my business look like? Will the success of your business be solely dependent on you? What are some of the challenges of being successful? What will be the definition of success in my business and in my life?
3. The ‘How?’ is learning about the requirements or ingredients needed to make your dream, vision or goal a reality. The ‘How?’ is the price tag of The ‘what?’ and a test of The ‘why?’ The ‘How?’ is having an understanding of the essential skills and knowledge commensurate to the dream, vision or goal you seek. The ‘How?’ involves learning what it takes to make your dream, vision or goal happen. Without The ‘How?’ what you seek will only remain an imagination!
Dreams, visions or goals don’t just COME through, they are WORKED through. You must be prepared to learn all that it takes to do the work of making your dream, vision or goal a reality. The truly successful KNOW what it takes and DO what it takes, no wonder they are the only ones that HAVE what it takes to make their dreams, visions or goals a reality.
While the unsuccessful ones still dream, they LEARN, DO and ultimately HAVE and LIVE the dreams the unsuccessful are still busy imagining. Show me the size of your dream, vision or goal and I will tell you to go begin developing your muscles.
The ‘How?’ is often three times bigger than the size of your dream, vision or goal. So the next time you lay on your bed dreaming and imagining what your life would look like once your dream, vision or goal becomes a reality, check your muscles to be sure they are three times bigger than what you seek.
You want to be sure you have developed enough mental, emotional, spiritual and physical muscles needed to deliver the dream, vision or goal you seek. For it takes consistent hard work and perseverance to make dreams, visions or goals a reality. Many are ill-prepared for the dream, vision or goal they seek.
How prepared are you? In this case, what are the principles and practices of a successful business? Do you know what it takes to build a successful business? In other words, do you know how to create company that will be SIGNIFICANT (different and making a difference?)
This is the second highly effective business success habits. After learning comes thinking; the digestion and internalization of knowledge or skill acquired. In my opinion, this is about the most dreaded habit of many. What many refer to as thinking is simply worrying. Success in the pursuit of a dream, vision or goal will only happen once we are all able to tell the difference between thinking and worrying. The successful think while the unsuccessful worry.
What is thinking?
Thinking is that rare ability of coming up with unique and useful solutions or ideas to challenging situations or problems by using our mind to creatively ANALYZE, ORGANIZE and INTERPRET information received from our five senses.
Thinking is the art of making sense of reality; how we interpret the information received from our five senses. Thinking is how we form our perception (understanding, opinion, belief, and mindset) of reality. It is how we interpret the world around us (reality) and come up with our own definition or meaning to things.
That means, how we analyze, organize and interpret (think about) the information supplied by our senses from the world around us (reality) forms the basis of our perception (understanding, opinion, belief, and mindset) about things (issues, problems, events, experiences, circumstances, environments etc.). And that is why it is such a very delicate matter.
Thinking has the power to change our perception (understanding, opinion, belief, and mindset) of the world around us (reality). And once it begins to change our perception (understanding, opinion, belief, and mindset) of the world around us (reality) our life begins to change either positively or negatively depending on the kind of information we received from our five senses. That is thinking can totally alter how we analyze, organize and interpret what we see, feel, hear, taste and smell.
Worrying on the other hand is not trying to make sense of reality. It’s more of trying to deny reality by focusing more on the issue, problem, situation, experience etc., rather than trying to understand it so as to gain the power to overcome it. Worrying is not analyzing, organizing and interpreting the information we receive from our five senses, it’s complaining, labeling and ignoring the information we receive from our five senses.
Instead of trying to analyze the situation or problem (this is the 1st step of thinking), worrying focuses on complaining about the situation or problem.
Instead of trying to organize the facts obtained from analyzing the situation or problem (this is the 2nd step of thinking), worrying focuses on labeling; attributing blames and assigning names to the situation or problem.
Instead of trying to draw up solutions or ideas by interpreting the organized facts obtained from analyzing the situation or problem (this is the 3rd step of thinking), worrying simply ignores all the information presented by the problem or situation hoping that the problem or situation will take care of itself somehow.
The goal or objective of thinking is to gain adequate knowledge or insight of the problem or situation so as to be able to uncover a suitable idea or solution to overcome the problem. It’s like looking at the problem or situation through a microscope; you want to see the patterns, the cause and effects of the problem or situation by dissecting and magnifying it.
Thinking helps us discover solutions by understanding the problem or situation.
Until the problem or situation is fully understood through deep thinking, the suitable idea or solution required to overcome the problem or situation will keep eluding us.
On the other hand, the goal or objective of worrying is SAYING everything humanly possible to make the problem or situation go away except DOING the right thing which is; spending time to analyze, organize and interpret all the information you are getting from the problem or situation. Problems don’t go away by simply talking (SAYING); they go away by taking actions (DOING).
After ‘the saying’, ‘the doing’ must always follow. This is the essence of thinking; it helps us know WHERE to begin to do. It gives us an idea on how to tackle the problem or situation.
Since the role of learning is to equip us with a reason to pursue our dreams, visions, or goals (the why?); a vivid understanding of the dreams, visions or goals we seek (the what?); and a knowledge of what it takes to make our dreams, visions or goals a reality (the how?).
So, the role of thinking is to help us identify with our present problem or situation so as to be able to discover a way out of it (the where?) and begin the journey towards the dreams, visions or goals we so desperately seek.
This is the formulation and presentation of knowledge and skills acquired through learning guided by the ideas or solutions generated through thinking into a strategic series or course of action.
In other words, Planning can be defined as “the intelligent organization of our knowledge, skills, experiences, ideas and solutions into a set of strategic actions”.
By strategic, I mean each action carefully developed and executed as a vital part of a much bigger whole. That is every action in the plan builds on previous actions and sets the tone for future actions. The outcome of your preparation is a finished and detailed plan that will be used as a guide when applying all you’ve gathered from the two initial habits of learning and thinking.
In this case, you want to have a laid out series of strategic actions (blueprint) that will deliver your dream, vision or goal of building a successful business or life. Your plan should include the following;
1. Timeline: how long will it take you to go from here to where you want to be? In other words, what is the expiration date for your dream, vision or goal? For example, what date in the future do you plan to have built a successful business or life?
2. Deliverables: how will you know you are gradually approaching the accomplishment of the dream, vision or goal you seek? Dreams, visions or goals don’t happen as a whole, they materialize in tiny little parts that when put together makes the complete whole. Deliverables are the tiny little parts of your dream, vision or goal and you’ve got to have a list of what they are. For example, how many branches of your business must you build to be satisfied? How much impact must your businesses have in the lives of those it serves?
3. Tactics: how do you want to play to win? What are going to be your tools for delivering your dream, vision or goal? In this case, how do you want to build your successful business empire? What successful business building instruments or tools do you want to adopt? There are several ways of achieving success in business, so how do you intend to measure your level of success? In cash or in kind, or both?
EAGLE EYE LEADERSHIP: What do you focus on and prioritize as the leader of your business?
Activity is not the same as productivity. Motion does not always signify progress. Activity is not necessarily accomplishment. Diligence is not necessarily effectiveness. Faithfulness is never the same as fruitfulness.
Not all efforts bring about results. There is a world of difference between getting things done (busy) and getting results (progress). Telling the difference is what this article is all about. Knowing the difference is what really makes some leaders more successful than others.
Making a to-do list for all your task will give you a boost on your productivity. You will be able to focus on one task, plus, it will help you organize from the least priority up to the top priority. This will give you great result as you move on your work.
Successful leaders are leaders with an eagle’s eye: they practice and live by the principle of focus and priority. They are not activity driven (busy), they are result driven (progress). They don’t care about knowing or doing everything; they are mostly concerned about knowing and doing the main things.
Great leaders are not a repository of everything or anything; they are repositories of only what matters. They don’t see everything, they only see what matters. They don’t go after everything; they only pursue the main things. They see, not as we see; they see through the eyes of the eagle; they see based on priority and they focus only on their vision.
They practice a different kind of leadership; not one based on execution (activity), but one based on contribution (productivity). This is a leadership built on focus and priority; a leadership driven by vision and purpose. This kind of leadership is what I call ‘eagle eye leadership’.
What is eagle eye leadership?
Eagle eye leadership is a kind of leadership practiced mostly by successful leaders in any work of life. It is a kind of leadership based on focus and priority. In other words, eagle eye leadership is a kind of leadership based on focus and priority and is mostly practiced by successful leaders in all works of life.
Eagle eye leadership refers to a leadership hinged upon vision and purpose. It is leadership focused on vision and following a purpose. It’s a leadership pursuing a vision and obeying a purpose. It’s not a survival driven kind of leadership, but a significance driven kind of leadership. It’s not a kind of leadership built on diligence alone (hard work) but also essence (designed work).
This kind of leadership doesn’t just ask “what is to be done?”, but also asks, “Why must it be done?” This kind of leadership doesn’t just work hard (diligence) but only works based on the vision it’s pursuing and a purpose it’s obeying (essence).
Eagle eye leadership is not a reactive kind of leadership that is based on just doing (movement or motion), but a proactive leadership based on improving (progress or contribution). Eagle eye leadership weighs every decision, situation and action against its original vision, destination and intention.
“how does this decision, situation or action play out and affect my initial vision, destination or intention?”
“what is the place or role of this decision, situation or action in my overall intention, destination or vision?”
It doesn’t just do, but does only when it finds a purpose, a place or reason for what needs to be done in the overall scheme of things. Every move, decision and action is tied to a predetermined end, purpose or vision. It is interested in doing only what matters; such things that would significantly affect the bottom-line. That is; the original vision, purpose and objective initially agreed upon. It weighs every action, decision or situation against the ultimate goal, vision or purpose in mind.
Eagle eye leadership is all about focus; a concentrated effort or attention on a particular thing (in this case, a vision) and priority; following or doing only the things with the greatest returns and of the greatest importance (in this case, purpose). Therefore, eagle eye leadership is all about focusing on the vision only and making the fulfillment of the purpose your priority.
In other words,you focus the vision and prioritize the purpose. That is to say, you make the vision your main emphasis and then you put the purpose above in front of all you do. This is what I mean; your task as the leader is to make the vision of the business your destination (focus) and make the purpose why you are in business your number one goal or objective (priority).
Focus the vision
The vision is the mental picture of the business in the mind of the leader, it could be an image or concept conceived through imagination. The vision often refers to where or what the leader perceives and sees the business to be in the nearest future.
The vision is a mental projection of the business, a mental destination for the business. It is usually future–bound. What tomorrow will look like, where we want to be in some year’s time, how big we hope to be.
The vision is the mental picture of a better or preferable future for the business. This is what the leader must emphasize on. A business without a vision is a business without direction. There’s only one place such a business will end up; nowhere!
Prioritize the Purpose
The purpose is the original reason why the business was created. It is the initial intent of the founder of the business. The purpose is why the business exists; why they open up for business everyday, and why they ever considered starting up such a business in the first place.
The purpose usually is determined in the past long before the business came into existence. It is the foundation on which the business was built; this is why it’s seldom changed. The purpose dwells on the outcome of the business, it doesn’t focus on outputs.
Outputs are the exact goods or services offered by the business to the market, while outcomes are those needs being met by the goods and services produced. While the vision of a business can always be changed since it’s something you project, the purpose most times remains unchanging unless it’s no longer of relevance to the market. The purpose is not something the leader sees and decides to obey or follow. The purpose of a business is often the need the business was created to meet or fulfill.
The life of an entrepreneur is one heck of a life, wouldn’t you want to get more from your business by doing less?
I mean, there’s always so much to be done; from the incessant quest to make a significant contribution, through the creation of innovative products/services, to the ever present fear of failing.
The entrepreneurial life is very overwhelming, more like joggling too many balls in the air.
In a rather funny way, the odds always seem to stack up against we entrepreneurs. What then shall we do; give up our entrepreneurial quest and settle for less? Or march on courageously despite seemingly insurmountable obstacles?
I’m sure you would most likely agree with me that the second option is our surest bet as entrepreneurs and the very essence of the entrepreneurial spirit.
You did not choose to become an entrepreneur because the journey is easy, NO. You chose to become an entrepreneur because the journey is worth it. Entrepreneurship is not something you can fake your way through; you are either doing it right or not doing it right simple. There are no ways around it.
5 Ways To Get MORE From Your Business By Doing LESS
It’s because of this singular reason that I offer the following 5 ways to simplify your life as an entrepreneur and help you get more from your business by doing less.
1. Follow purpose
Dr. Myles Munroe was 100% on point when he made this statement; “when purpose is unknown, abuse is inevitable.” Most entrepreneurs complicate their lives and seldom find fulfillment in business because of the singular fact that they are ignorant of the purpose of entrepreneurship.
You see, there’s no way you can enjoy a journey that you began with a wrong step. Entrepreneurship is never about ‘getting’ (accumulation of wealth) but about ‘giving’ (creation of value).
Business is not a money making venture but a value adding venture.
I will never cease to re-iterate this fact no matter how unpopular it might sound, most especially in a country like mine –Nigeria.
In all the success stories ever told about most iconic entrepreneurs in the world such as Google founders; Larry Page and Sergey Brin, Wal-Mart founder; Sam Walton, Sony founder; Morita Akio, General Electric founder; Thomas Edison and so on, one thing has remained universally true about them.
They all set out to build SIGNFICANT businesses – companies that will stand for something special (uniqueness) and will make their profit only by adding value to those they serve (usefulness). Little wonder their businesses are world acclaimed companies.
Take it or leave it, your entrepreneurial life will never be less complicated (simplified) if you keep focusing on the financial rewards of entrepreneurship. To put money first as the sole purpose of your entrepreneurial journey is to choose to fail out rightly from the very beginning!
There is no use battling with nature’s law. Mankind has continuously broken new grounds in science and arts not because it argued with nature, but because it chose to explore and understand nature by conforming to its laws. You stand a more better chance of succeeding as an entrepreneur if you live a life of purpose and align your business to the purpose of entrepreneurship.
In case you still haven’t figured out what your purpose in life is as an entrepreneur, click here to discover your purpose in life.
2. Pursue Vision
Life will always be complicated for the entrepreneur who has no idea of where he/she is going and what he/she really wants to achieve. In following purpose as was mentioned above, entrepreneurship is about creating something really special (unique/different). What is that thing you want your company to always be remembered for?
This is what having a vision means. A vision is a picture or imagination in the mind of the entrepreneur about an idea. It’s about using your life to bring into reality an idea you are so passionate about. This idea can be in the form of a product or service you want to offer the market.
However, because people don’t pay for products/services, rather they pay for solutions to their problems. This implies that, unless your product/service is solving a particular problem in the lives of your customers, you’ve failed already as an entrepreneur in your quest to create something truly special. As I’ve written in a previous article on How to build the greatest company in the world, your being special (uniqueness) must make a positive impact (usefulness).
So here’s the big question you’ve got to answer in order to simplify your life as an entrepreneur and get more from your business by doing less; what problem is your products/services solving for people? In other words, what do you and your company want to create in the lives of your customers? The answer to this question should be your major focus as an entrepreneur.
This is what it means to pursue vision. Stop going about chasing several things. Focus on one thing. Stephen R. Covey was right when he said;
“Your job is to keep the main thing as the main thing”.
A business that doesn’t stand for something will eventually fall for anything. This is one of the core philosophies we are trying to instill into the minds of entrepreneurs on naijapreneur. In order to get more from your business, you must learn to do less by standing for something (being different) and adding value to those your business serves based on what you stand for (making a difference).
In case you still haven’t found a compelling vision to pursue as an entrepreneur, click here to discover how to create a compelling vision for your organization.
3. Embrace Passion
For entrepreneurs who focus on their core gifted areas, doing less will always yield more. Nothing can be more enriching to the life of an entrepreneur and beneficial to the success of a business than focusing on what you naturally love doing – passion. Your passion is the same as your strength.
These are those activities you naturally enjoy doing effortlessly. I’m sure by now, you should be tired of hearing this statement; “You can never be successful doing what you endure rather than enjoy.”
This is just the simple truth about life and business success. Success is a natural outcome of unleashing your passion. It is the result of an unwavering dedication to the pursuit of our true calling as human beings. Many entrepreneurs underestimate the effect of passion in building a successful business. To show you how powerful embracing passion can be, here’s a revealing study of a group of businesspeople who took two very different paths after graduating from college.
A study of business school graduates tracked the careers of 1,500 people from 1960 to 1980. From the beginning, the graduates were grouped into two categories. Category A consisted of people who said they wanted to make money first so that they could do what they really wanted to do later – after they had taken care of their financial concerns. Those in category B pursued their true interests first (passion), sure that the money would eventually follow.
What percentage fell into each category?
Of the 1,500 graduates in the survey, the money-now category A’s comprised of 83%, or 1,245 people. Category B risk takers made up 17%, or 255 graduates.
After 20 years there were 101 millionaires in the group. 1 came from Category A (the money-now graduates), and 100 from category B (the risk taking graduates).
The study’s author, Srully Blotnick, concluded that “the overwhelming majority of people who have become wealthy have become so thanks to work they found profoundly absorbing …. Their ‘luck’ arose from the accidental dedication they had to an area they enjoyed.”
The story above clearly says it all. Lucked up within each of us is a gift, talent or strength that was deposited in us at the point of creation which was given to us to be used for the benefit of humanity.
This is why whenever you find yourself doing any activity that you endure rather than enjoy, you keep feeling empty and frustrated regardless of the material rewards such activity might provide. So learn to embrace your passion for therein lies the answer to getting more from your business by doing less.
4. Empower People
There’s a limit to what only one person can do. If you are running your business as a one man show without enlisting the help of other gifted people, you would end up complicating your life and can never stand a chance of getting the best from your business. You see what you must realize is this; one is too small a number to achieve greatness.
The fact that you own the business doesn’t mean you possess all the talents, skills or knowledge required to successfully run the business. A very simple way to grab this fact is taking a look at the way your body works, the body is a composition of different parts all working synergistically with every part playing its own role in making you a total human being.
Imagine the heart trying to play the role of the hand all in the name of wanting to be the main boss of the body. The end result is quite obvious, calamity. Likewise, the same is true in business.
Your job as the an entrepreneur and the owner of your business is to critically evaluate all the key areas of your business and then look for the right set of people to occupy and function in each of these key areas you’ve identified. You must therefore begin to groom a team of highly gifted, skilled and knowledgeable people who would complement you and your business as it is quite obvious that you can’t do it all by yourself.
One of the reasons why most entrepreneurs hesitate in empowering their people is due to insecurity. Most entrepreneurs especially in my country Nigeria believe in controlling all aspects of their business because they do not trust those whom they have employed to work in their business. So they end up prying their nose into every area of their business and trying to be Alpha and Omega of their enterprise.
Please don’t get me wrong, I’m not in any way suggesting that you don’t be in the know as regards the operations of your business, No. My point is quite simple; get those who are better than you in certain areas of your business and empower them to use their uniqueness to enrich your business.
There is what I can do better than you and there’s what you can do better than me, together we can both pull our individual talents, skills and abilities towards a greater purpose which we would never have been able to achieve alone.
Meaning, you cover up for my weaknesses by focusing completely on your strength and I cover up for yours by equally focusing on my strength as we collectively pursue a common goal, vision or purpose.
So, to get more from your business, learn to do less by finding and empowering talented people whom you can delegate those things that bore you to nuts.
5. Leverage Technology
In the whole of human history, I personally think this is the best time to be alive. Never before have we humans been so interconnected globally because of Information Technology.
Imagine a world where all humans could be reached just by sitting at a place and working on a computer? Imagine the possibility of reaching several millions of people all at the same time with the same message being passed from one main source? Imagine having to compete with the giants of your industry on the same platform – the internet, without any fear of being eaten up alive?
The list is endless. The point I’m trying to make is this; technology is an amplifier. It basically takes a small thing and blows it up.
How do I mean?
One of the key features of Information Technology (IT) is its ability to enable people and businesses meet one particular need through diverse means. Take for instance a local shoemaker in Nigeria whose business is making and selling locally handmade shoes.
With a website, this small business can automatically become a big player online making and selling shoes not just locally anymore but now globally. By leveraging the power of the internet, the business can reach out to more people who may need locally handmade shoes but not physically situated in the same locality as the business.
That is, the company can now afford to sell to walk-in customers as well as unknown customers online thereby meeting one need (selling handmade shoes) through diverse means (offline and online sales outlets). In other words, it makes you get more by doing less.
Has your business IQ increased as a result of reading this article?
Share your views in the comment section below.
He was named in 1957 by Fortune magazine as the richest man in America. At his death, he was worth more than $2 billion.
From World War II until his death Getty was considered one of the richest men in the world, in this post I share his 10 rules of business success.
These rules were extracted from his legendary book “How to be Rich”, I have added footnotes to each of the rules to make it more relevant to our age and time. I hope you find this as useful as I did and make a commitment to apply these rules to your business.
J. Paul Getty’s 10 Rules of Business Success
There are no absolutely safe or sure fire formulas for achieving success in business. Nonetheless, I believe that there are some fundamental rules to the game which, if followed, tip the odds for success very much in the businessman’s favour. These are rules which every millionaire businessman in history has followed.
The rules have worked for them–and for him (J. Paul Getty) and they will work for you too!
1. Adequate Knowledge of the Business:
Almost without exception, there is only one way to make a great deal of money in the business world–and that is in one’s own business. The man who wants to go into business for himself should choose a field which he knows and understands. Obviously, he can’t know everything there is to know from the very beginning, but he should not start until he has acquired a good, solid working knowledge of the business.
There’s no way one can run a business successfully without having adequate knowledge of the nitty gritty of the particular business he or she is venturing into. Take your time to learn as much as you can about the particular industry, market and peculiar characteristics of the prospective customers your product or service will serve.
Also, make sure you have the necessary skills needed as the leader of the business. Remember, “time spent learning and planning is considered an investment in business and the knowledge eventually acquired is an asset and competitive advantage to the business.”
2. Commitment to the Central Purpose of a Business:
The businessman should never lose sight of the central aim of all business–to produce more and better goods or to provide more and better services to more people (customers) at lower cost.
In the words of Management Guru, Peter F. Drucker;
to know what a business is, we have to start with its purpose. Its purpose must lie outside of the business itself. In fact, it must lie in society since business enterprise is an organ of society. There is only one valid definition of business purpose: to create a customer.
This then is achieved through the continuous production of more and better goods or the provision of more and better services to the society at lower cost. Because its purpose is to create a customer, the business enterprise has two–and only these two–basic functions: MARKETING and INNOVATION.
It is not necessary for a business to grow BIGGER; but it is necessary that it constantly grows BETTER. A businessman or woman who runs a business that isn’t doing this should not hope to achieve any form of business success.
3. Financial management:
A sense of thrift (economy) is essential for success in business. The businessman must discipline himself to practice economy wherever possible, in his personal life as well as his business affairs. “Make your money first – then THINK about spending it,” is the best mantra for the man who wishes to succeed!
There’s no way a business can be successfully managed without a good sense of money management on the part of the business owner. There must be a clear line of difference between ‘necessary expenses’ and ‘luxury expenses’. Always remember you’re not in business to satisfy your own personal desires, but to satisfy your customers’ desires consistently through the production of more and better goods or the provision of more and better services at lower cost.
To do this, firstly, you must practice budgeting–a process of prioritizing necessary expenses essential to the survival and operational stability of the business. Secondly, negotiate everything! Always strive for a bargain no matter how small or intangible it may seem.
4. Seek continuous growth through necessary expansion:
Legitimate opportunities for expansion should never be overlooked or ignored. On the other hand, the businessman must always be on his guard against the temptation to over expand or launch expansion programs blindly, without sufficient justification and planning. Forced growth can be fatal to any business, new or old.
Every business like every child ultimately wants to grow; this is the natural inclination of every living entity. The alert businessman or woman would seek various ways through which the business can grow through expansions. There are a few strategies for business expansion such as; buying over other related businesses, licensing of products or services, selling of franchises, opening of more branches, creation of strategic alliances and the cheapest; network marketing.
Adequate planning and research must be fully carried out before any of these strategies can be adopted. Any business which fails to grow through necessary expansion faces the risk of extinction!
5. You’re the BOSS, call the shots:
A businessman must run his own business. He cannot expect his employees to think or do as well as he can. If they could, they would not be his employees. When “The Boss” delegates authority or responsibility, he must maintain close and constant supervision over the subordinates entrusted with it.
The great Inventor and entrepreneur, Henry Ford was once accused of being uneducated and rather than feel offended he posed a challenge telling his accusers to ask him any question whatsoever. With every question asked, Henry Ford simply called upon any of his workers who was qualified enough academically to answer the questions. On answering all the questions through his workers, his accusers claimed to have proved their allegations of Henry Ford’s illiteracy.
Henry Ford smiling made a profound statement which will never go down in history; “I don’t bother to do the work anyone can do, I do the hardest work of all–thinking, which only a few men can do.”
The few men who can think are those who become business owners employing those who cannot think but simply follow orders. Your key task as a businessman or woman lies in these words: directing human activities. And only those who know how to think can direct those who don’t think. To do this, you have to know a little about a lot (versatility) and employ those who know a lot about a few (specialization).
6. Seek continuous improvement:
The businessman must be constantly alert for new ways to improve his products or services and increase his production and sales. He should also use prosperous periods to find the ways by which techniques and operational processes may be improved and costs lowered. It is only human for people to give little though to economies when business is booming. That, however, is just the time when the businessman has the mental elbow room to examine his operations calmly and objectively and thus effect important savings without sacrificing quality or efficiency. Many businessmen wait for lean periods to do these things and, as a result, often hit the panic button and slash costs in the wrong places.
Success they say is a lazy teacher who makes her student complacent and comfortable. The best time to examine your business and seek ways for improvement isn’t when it’s declining, but rather when it is booming. A businessman or woman who desires success in business must deliberately seek out more and more ways of improving their business operations, products or services long before it becomes an emergency. Entrepreneurship is not a destination one is heading to, but a journey one embarks on; it has no end but death.
In other words, there is no stationary spot or a point for resting on one’s laurels. Areas through which improvements can be channeled includes; business processes or systems, cost of production or cost of service delivery, product or service features and benefits, human resources, research and development, customer relationship management, finance, distribution etc.
Remember, “opportunity is a haughty goddess who wastes no time with those who are unprepared”. Now, not later or tomorrow, is always the time to make room for improvement!
7. Take only justified risks:
A businessman must be willing to take risks – to risk his own capital and lose his credit and to risk borrowed money as well when, in his considered opinion, the risks are justified. But borrowed money must promptly be repaid. Nothing will write finis to a career faster than a bad credit rating.
Taking risks in order to meet the needs and solve the problem of the society is the essence of entrepreneurship. However, not all risks are worth taking. A businessman or woman who desires to be successful in business would always evaluate and analyze any risk they choose to take so as to justify its viability.
It has always been said, “It’s not the entrepreneur with the best idea that wins but the entrepreneur with an idea whose time has come.” Adequate care must be taken in ensuring that whatever project or venture a businessman or woman chooses to embark on has a positive return on investment (ROI). There are various tools that can be used to analyze the viability of a venture or project some of which are; Best/Worst analysis (BWA), capital budgeting techniques, SWOT analysis etc.
8. Seek new business opportunities:
A businessman must constantly seek new horizons and untapped or under-exploited markets. Today’s shrewd businessman looks to foreign markets.
Businesses exists because of the opportunities created by the needs and problems of the society in which they operate. If these needs or problems weren’t present, the entrepreneur wouldn’t have any cause to go into business in the first place. Each need or problem represents a business opportunity usually called an ‘untapped-market’.
It becomes paramount then to the alert businessman or woman who desires to succeed in any business to constantly be on the lookout for more needs or problems that may represent business opportunities within the society in which they operate. Taking advantage of these opportunities is what innovation is all about. An innovative business is one that is alert to the needs and problems of the market it serves. Once a business becomes dead or indifferent to the needs and problems of the society, its demise is inevitable.
In today’s world, the society in which a business operates has greater implications as a result of the changes created by Information and Communications Technology (ICT). The world as we know is now a global village making the operating environment in which businesses function to be unlimited. A local business enterprise can fully meet the needs and solve the problems of an international market through the aid of Information and Communications Technology.
For example, millions of businesses are created on the internet every day, businesses open up branches in different parts of the world as a result of strategic alliances/partnerships formed over the internet, goods and services are now being bought and sold online, meetings are held in various places over the internet across the world. Never before in the history of mankind has such a time like this where opportunities abound for the alert businessman or woman to capitalize on and make the most of the ‘boundary-less markets’ open to them.
9. Trust is a social capital:
Nothing builds confidence and volume faster or better than a reputation for standing behind one’s work or products. Guarantees should always be honoured–and in doubtful cases, the decision should always be in the customers’ favour. A generous service policy should always be maintained. The firm that is known to be completely reliable will have little difficulty filling its order books and keeping them filled.
Business at its very core is a social activity. The whole concept of business is built around human interaction. All the parties needed for the successful operations of a business are people; your customers, employees, suppliers, professional partners, etc., are all people. So there’s hardly any thing one can do in the world of business without dealing with people or social interaction.
This places a great burden on the character of every businessman or woman much more than they probably bargained for. In the world of business, whether you’re just starting out or you’re an established entrepreneur, your character is a valuable asset that must be jealously guarded. Before you became a businessman or woman, very few people counted on you and how you lived your personal life.
The moment you choose to start your own business, the reverse is the case; every one within the world of business watches your every move and character. Your employees look up to you for leadership, your customers hold on to your brand promises, your suppliers bank on your credit worthiness, your professional partners count on your integrity.
Everywhere you turn in the world of business, your character as an entrepreneur is daily put to test; your long term success in business will greatly depend on how well you are perceived by those you work with in business. Do you keep your word to your customers, employees, suppliers, professional partners? Do you sell or produce inferior goods or services?
Do you cut corners to get the project done? Do you make all the money and treat your employees like rags? Are you sincere and honest in your business dealings? What you must always bear in mind at all times is this; “business is like making babies, you can’t do it alone!” And the golden rule of dealing with people is; “do unto others as you would have them do unto you–treat people like they would like to be treated”
10. You are an instrument of nature:
No matter how many millions an individual amasses, if he is in business he must always consider his wealth as a means of improving living conditions everywhere. He must remember that he has the responsibilities toward his associates, employees, stockholders–and the public.
Entrepreneurship is a call that is obeyed. There is a spiritual side to it. History is filled with great men and women who built businesses that have significantly improved our existence as humans here on earth. Imagine what the world would have been like if there weren’t people like Thomas Edison who invented light bulb? Imagine a world without computers; would there ever be a term like global village? Imagine a world where we had to gaze at the sun to know what time of the day it is?
There are countless examples the world over of breakthrough inventions that has radically changed our existence, all these were made possible by men and women like you and I who felt it more compelling to use their wealth and talents for the good of humanity rather than wallowing in their own fantasies enjoying all the good their wealth can possibly buy. Entrepreneurs are the architects of civilization. We are the instruments of nature being used for the good of humanity.
In conclusion, in the words of the legend himself, J. Paul Getty;
“Do you want to make a million? Believe me, you can – if you are able to recognize the limitless opportunities and potentials around you and will apply these rules and work hard. For today’s alert, ambitious and able young men and women, all that glitters truly CAN be gold!”
Thanks for reading!
It begins with selling your idea.
It comes like a lightning bolt with a promise of taking your life on an exciting journey beyond your wildest dreams. The feeling is very much the same for almost every entrepreneur.
First it begins with a feeling of excitement that often comes with the assumption that your idea is the first of its kind and has the potential to change the world. Following closely is the feeling of success that comes as a result of your daydreaming about the seemingly endless possibilities the idea is supposedly expected to usher into your life.
This feeling is much like being high on something, because it has a way of making the present condition totally irrelevant and focuses more on the future. Lastly, comes the feeling of urgency when nothing else seems to matter except the realization of the idea. It is no longer sufficient to day dream about the idea, now is when you want it all to happen at once.
But do all these feelings actually make an idea work? Of course not.
To make an idea work, requires much more than just bathing in your imaginations. It requires having to face your greatest challenge as an entrepreneur – selling your idea to others!
Having an idea is ALWAYS the easy part!
As much as we all love these feelings that often follows the conception of an idea, the hard part of being an entrepreneur is coming to terms with the fact that having an idea is always the easy part. Being an entrepreneur is more than just having a great business idea. Being an entrepreneur is about being an individual with a capacity to make things happen. Being an entrepreneur is a matter of credibility much more than creativity.
It isn’t about your new big idea; it’s about your whole life experience. What about your life, what about your past points to the fact that you can bring an idea into reality? What stuff are you made up of? Entrepreneurship is about bringing the totality of your life experience to bear in the quest of making something you strongly believe in happen. Entrepreneurship is a test of your life seeking expression in an idea.
You are the one being tested and not your idea. An idea is nothing all by itself. An idea becomes something only in the hand of a true entrepreneur and a true entrepreneur is the individual with a credible track record.
Your Idea is Great, but your Track Record Sucks!
Your greatest nightmare as an entrepreneur is having to sell your big idea to the world. Every idea must face criticism and this is the ultimate test of being an entrepreneur. Your ability to fight for your idea will be determined by the strength of your character first as an individual. Whether or not your idea will be accepted is a function of your past.
What about your past gives us a clue that you can pull this idea through? People buy into you the entrepreneur first before they buy into the idea. So if your life doesn’t suggest to those you are trying to solicit their involvement in making your idea a reality that you are capable, then your great idea is as good as nothing.
How well have you led your life? As I have always emphasized, business is not separate from your life as an entrepreneur, rather, business is an extension of your life. Your business as an entrepreneur is a reflection of your person. Show me an individual and I can almost predict how and what his business will look like.
True entrepreneurs first lead a great life, little wonder they build great businesses. The composition of your life as an entrepreneur is what will determine the success or failure of your entrepreneurial journey.
Entrepreneurship is about surmounting varying degrees of difficulties in order to make something worthwhile happen. It requires more than just having a great idea; it requires a strong character developed as a result of accumulated life experiences. These life experiences serves as a foundation on which to build the much needed credibility through which your idea is brought to life.
People always want to know if you have what it takes to pull an idea through from conception to execution. The task of having to convince them that you have what it takes is the greatest nightmare of being an entrepreneur. Some of the people whose involvement you need to get your idea off the ground include; investors, partners, workers, customers, suppliers etc. without these people being on board, your idea at its very best is still your idea.
Meaning it hasn’t become a shared idea. Why? Because it takes more than one person (entrepreneur) to build a business, you ultimately need the involvement of others.
Selling Your Idea: Why on Earth Should Anyone Buy into Your Idea?
Providing answer to this question is where your greatest nightmare as an entrepreneur begins. Your idea is great; it has the potential to change the world, but how come no one except you is willing to stick their neck out for it? How come all people ever do when you pitch your idea is listen, nod their heads and do nothing else? Because you are not convincing.
Let me be very quick to draw a line here; there is big difference between sounding convincing and actually being convincing.
Sounding convincing is a matter of presentation, being convincing is a matter of credibility. In other words, trust. Your credibility is what determines your ability to convince others and without that credibility, selling your idea to others might remain impossible.
So How Do You Develop Credibility?
Credibility in its most basic meaning is the ability to inspire trust or belief. In other words, credibility refers to the ability of the entrepreneur to inspire or earn the trust and willingness of others to accept what he or she proposes as true. Credibility basically comes from four sources;
1. WHO you are (character, life experience):
There’s hardly anything we ever do on earth that doesn’t always require that we go back to the basics – life. Life truly is the basis on which every other thing on earth is built. The first source of credibility is your life. As I’ve always been known to ask; “what is commendable about your existence?”
Believe it or not, the first place people look to tell if you are capable of a thing or not is your life. They want to know the kind of person you are, the substance of your character, and the composition of your life experience.
In other words, they want to know what makes you thick as a person. What drives you? What are your values or what do you value? You might want to ask “why are all these necessary for determining ones credibility?”
The truth of the matter is this; at its very core, business is all about relationships. We don’t do business with things or animals, we do business with human beings and the crux of any human interaction is trust. Hence the need for you to have a credible life that is worthy of earning and inspiring other people’s trust.
Selling your idea is about soliciting the trust and commitment of others, how else are you going to achieve this if there’s nothing commendable about your life!
2. WHAT you’ve Done (track record, past experiences, results or accomplishments):
The second source of credibility is your track record. Your track record generally refers to what you’ve done in the past or your past accomplishments. In other words, what victories have you won? What territories have you conquered?
Sad as it may sound; rarely do people want to give a loafer a chance at anything.
People would rather risk their lives with someone with a track record of commendable results or accomplishments than with someone with no track record whatsoever. The qualities of your past accomplishments to an extent are credible indicators of your capacity to make things happen. This is why people often clamour for experience as a proof of one’s capacity to perform.
Therefore, in selling your idea, you should bring all your past victories to bear and leverage upon the fact that if you were able to achieve wins in certain projects in the past, you inevitably possess what it takes to replicate the process again.
3. WHAT You Know (Knowledge, skills):
As I have always believed and professed; OUR ABILITY TO DO IS LIMITED BY WHAT WE KNOW. Therefore, what you know is another source of credibility. Owing to the dynamic nature of life, it’s almost impossible to see someone who has virtually experienced in the past all he/she wants to do in the future.
Somehow, we still may not have all the track record we need to leverage upon by our own selves; this is where leveraging on the experiences of others comes into play.
As a result of knowledge and skills acquired from others, we are half as capable as they are in doing that which we’ve learnt from them. You can compensate for what you’ve not done with what you can do as a result of what you know. In selling your idea therefore, people want to know how much you’ve learnt about your idea.
In other words, how much do you know about where you are headed? Since you haven’t personally been down this road before, how do you intend to make it through?
Your goal is to show how much you know and have learnt about what it takes to make your idea work. The quality of your knowledge about a particular thing or idea is proof that you don’t just have an idea, you also have a blueprint and the necessary skills to make it work.
4. WHO you Know (Network, Team, Association):
The last source of credibility is who you know. It’s very closely related to what you know, but in its case, rather than knowledge or skills gained from others, it’s more like outsourcing tasks to those more capable than you. Surrounding yourself with people who possess all other forms of credibility listed above is another way of attracting credibility to your own self too.
As the popular saying goes; “show me your friend and I will tell you who you really are.”
People can tell how capable you are or not as a result of those people you are always in association with. A man in the company of fools will definitely be capable of doing foolish things and the one in the company of the wise; will ultimately end up doing wise things.
Therefore, in selling your idea as an entrepreneur, endeavour to surround yourself with men and women who are more credible than yourself in certain areas that relates to making your idea a reality.
Now over to you my dear reader, in what other ways besides these four sources listed above have you adopted in developing your credibility as you went about selling your idea to others?