Paul Brown on Entrepreneurship
by Barbara Loraine
1) Look at how they think, not just what they do.
The thinking and action-taking formula includes: Action, Learning, Repeating
2) Begin with Market Need.
Stephen Covey (best know for his book “Seven Habits of Highly Effective People) called it “Begin
with the End in Mind.”
If you begin with what people need, people will come to you; you won’t have to chase them around.
3) Don’t Focus on Getting Rich
Instead look to satisfy customer needs – and they will buy.
4) Market “Differently”
If you’ve got the same old thing as everyone else, why would people buy from you? Satisfy needs and be different and you’ll attract more attention . . . and customers
5) When it Comes to Financing, Fund Your Small Steps
Think big companies started out with a big bank roll? Think again. The actual number most companies start with is $109,416, according to Kaufman Foundation. How do companies parlay that small amount into big fortunes? By funding small steps, learning from them, then going back for more funding to move forward with.
6) Team is Crucial
No CEO can do it all themselves. In order to grow big, they need others’ work and great ideas.
7) Build from a Balance of Strengths
Most CEOs need someone else to provide over-all balance. For example Steven Jobs had Steve Wozniak to put his ideas into operation.
8) Positive – and Realistic – Outlook
The best CEOs expect miracles and see all things as “good.” Even negative feedback on a project is seen as positive – “Good thing we got that feedback before we sunk too many resources into a losing proposition.”
Read more on business subjects by Paul Brown, author of Just Start, published by Harvard Business Review.