Rick Carter - Your Business 2.0
This week the focus is on Asking yourself the hard questions - Can you do it? What do I need to make it happen? Have I got what it takes?
While our focus in this show is What it takes to be an Entrepreneur in general. In every show we talk about what specifically being an Encore Entrepreneur means to help you understand the what and the why before launching into the how.
To help with this we have 2 regular segments -
Opportunities for the Modern Elder i
You have more time than you think.
The great management thinker Peter Drucker did most of his best work after the age of 65. And just last year, Impossible Foods, founded by 65-year-old scientist Pat Brown, was named Inc.'s company of the year. Expect to see more success stories like Brown. Because of increasing life expectancies, at age 60 you are likely only 57 percent of the way through your adult life. You have plenty of time to launch your second act.
Your biggest obstacle is in your mind.
Stanford psychologist Carol Dweck categorized people's attitudes to personal development into either fixed and growth mindsets. If you reach middle age with a fixed mindset, you believe your talents are inherent and don't change, so new challenges seem overwhelming. But if you adopt a growth mindset, those challenges become new opportunities to learn because you believe you can improve throughout your life.
Future Back Thinking
IDENTIFY THE MAJOR IMPLICATIONS OF THE FUTURE FOR YOUR ENTERPRISE
The goal, remember, is not to predict the future with certainty (nobody can) but to paint an impressionistic painting of it that is detailed enough to build clarity and alignment on what you will have to do to make its differences work to your advantage.
Once you have your painting, it’s time to project yourself into it. How will your current businesses fare in that new-and-different environment? Your answers will help you quantify your growth gap—the difference between what you hope to deliver and what you likely can. The size of the gap determines the size of the response you’ll have to muster.
What qualifies you to be an entrepreneur?
You need to be able and willing to take calculated risks for one; learn from your mistakes and generally be able to see the big picture and where you fit into it are two others. Great entrepreneurs are also pretty good communicators and have an uncanny ability to pick the right people to work with.
There is an enormous difference between wanting to do something and being able to make a living at doing that something.
Being a successful business owner requires investing your own money in addition to a ton of time and effort. Despite the appeal of being your own boss, the reality is that not everyone is cut out to be a successful business owner.
Here are five quick personality assessments to evaluate before taking the entrepreneurial plunge:
Are you Santa or an elf?
What's your relationship with money?
Are you comfortable flying blind?
Are you ready to commit?
Were you born for business?
What You Need to Do
Spend time on answering the questions we posed above
Check out the 10 TED talks for Entrepreneurs
Keep working on your Purpose Canvas
Keep developing your 1 minute Pitch by analysing what Problems you plan to solve and why based on what you learned today
The Last - Do you have a marketing strategy?
The Next - Using digital tools and technologies for cost effective results
Written by Rick Carter
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