Align Yourself with the Right People - the Path to Being an Entrepreneur

Building an enterprise with sufficient capacity to fully capitalize upon an idea and compete in the marketplace is a key component to building wealth. One way to ensure that an organization has the capacity to compete in the business world is to hire the right people. While hiring smart, dedicated, and loyal people is a critical step in the right direction that alone is not enough. It is also important to develop a strategic plan for hiring employees. Initially, Washington, D.C. based real estate developer, Adrian Washington, hired his employees based on instinct. Early on, he looked to hire smart people who would work hard for his young company. As his business matured, however, Mr. Washington became more strategic in his hiring practices. He began to focus his hiring strategy by evaluating needs and identifying voids in his company. He then implemented a plan for identifying and attracting individuals who possess the requisite skills and qualifications to fill those needs and voids. In this regard, Mr. Washington developed a strategic, incremental plan for growing his enterprise. Having a plan for effectively utilizing the skills of those with whom you align yourself is just as important as identifying the individuals with whom you would like to work.

Mr. Washington stresses the importance of communicating to new hires the importance of their position and how it relates to the overall mission of the organization. As one noted business author, Michael Gerber, has suggested, "As an employer, you are going to have to create an environment in which 'doing it well' is more important to your people than not doing it." Having your employees buy into the vision and mission of your organization is key. The strength and capacity of your company depends on your employees’ dedication to its success.

As you continue seeking to align yourself with the right people, don’t forget these other key points. Remember always to surround yourself with the best and brightest minds you can find. Balance experienced veterans with young, hungry, smart, talented people. Give people enough autonomy and freedom to develop confidence in their ability to perform their job. Expect people to "know their stuff," and demand excellence without excuses. Create an environment in which hard work is rewarded. Allow employees to make mistakes, but fire people who fail to deliver results. Always lead by example, and make sure your employees see you working harder than them. Finally, make decisions quickly and definitively. Never allow issues to linger without resolution.

Refuse to Live in Comfortable Mediocrity - the Path to Being an Entrepreneur

IT entrepreneur, Michael Warren, once revealed to me that one of his greatest fears is being relegated to a life of "comfortable mediocrity."  For Mr. Warren, the status quo is not an option.  The refusal to live a life of comfortable mediocrity is a common denominator that most successful entrepreneurs share.  It is their refusal to be satisfied with the status quo that keeps pushing them to set and achieve new goals. 

In today's society, it is easy to fall into a life of comfortable mediocrity.  Once we have our graduate degrees, "good" jobs, beautiful homes, and nice cars, it becomes very easy to stop challenging ourselves to move to the next level of achievement, whether that next level is setting new financial goals, implementing a new vision, or being more involved in the community.  Mr. Warren has determined that one of the ways he knows it is time for him to leave one professional opportunity to create another is by asking himself the following question:  "If everything goes according to plan, where will I be?"  If that answer is just the next rung of the corporate ladder or a position that does not require him to stretch himself intellectually or learn new skills, he knows it is time to leave for a new opportunity.   Mr. Warren says we should constantly aspire to be “something we'd like to be, but are not.”  He believes the key to success is to be the best at what you do so that people believe if they don't invest in you, the competition will.  Once you adopt this as part of your belief system, there can be no room for comfortable mediocrity.

Michael Warren also reminds aspiring entrepreneurs that as you seek to accomplish the goals of building wealth and creating institutions, it is important to act in a "patient, but relentless" fashion.  Acting in this manner will help you develop fortitude and staying- power, while strategically and carefully implementing and executing your vision. 

It's not going to be easy but....

Getting the word out - Guerrilla Marketing Tips from Top PR Pros

48 Guerrilla Marketing Tips from Top PR Pros : Money :: American Express OPEN Forum This article has gathered a good set of ideas on how to get the word out about your business for minimal cost, except for some time and sweat equity.

Resource - LinkedIn

There are numerous tools that exist or are to be launched in the social media space.  I engage or experiment with a number of them regularly, but LinkedIn stands high above the rest for being a place where real value is created, not only for my personal, brand, but also to my ability to solve problems.  In particular the feature that allows you to ask questions of individuals within a particular industry has been extremely helpful to me.  I sometimes use it to confirm a hunch and other times to get the sense of options that I might have related to a problem.  The attached link will walk you through where to find the feature and give some additional insights.  LinkedIn Q&A. (The video focuses more on the lead generation aspect of the feature than I use it for).

What social media tool do you gain the most bottom-line value from?  How do get the most value from LinkedIn?

Developing Your Skills By Gaining Experience – the Path to Being an Entrepreneur

To allow your inner entrepreneur to emerge, first you have to identify your talents and skill-set so that you can begin to refine and focus them.    Previously, I had the opportunity to talk with Adriene Washington, a successful Washington, DC based entrepreneur who has been very successful as a real estate developer.  Knowing what he knows now, Mr. Washington suggests a path he would encourage would-be developers (or entrepreneurs generally) to take to help refine their entrepreneurial skills. 

 He suggests first going to a large, well established, first class company to train, learn best practices, and gain an understanding of what it takes to play in a large arena.  After a couple of years, having checked off a list of pre-defined experiences, move to a smaller organization that has an entrepreneurial spirit and learn how to play bigger with less resources.  Begin to make a name for yourself and establish key relationships.  After a few years at a smaller organization, set out on your own and start your own company.  Mr. Washington believes such an approach might have mitigated a key low point in his career when he was out on his own and found himself to be 'undercapitalized' and 'under experienced'.

Developing key skills before you cast your lot as an entrepreneur will go a long way in allaying concerns and fears that you may have about starting your own business.  Preparation through experience is a touchstone for any successful entrepreneur.  

A Personal Challenge

Reading after a certain age, diverts the mind too much from its creative pursuits.  Any man who reads too much and uses his brain too little falls into lazy habits of thinking. -- Albert Einstein


Anyone who knows me knows I love to read.  At an early age, I was encouraged to take a book where ever I went.  This has followed with me into adult life.  While there are much worse habits to have, as an entrepreneur,  too much reflection can slow you down.  As a friend has said to me, it can lead to the Paralysis of Analysis.  I am challenging myself to PUT THE BOOK DOWN, and be even more action oriented.  I am not cutting out reading altogether, but am going to do a better job of keeping it in perspective with all of the other things that need to be accomplished to meet my goals .

Do you have this challenge?  If so, how have you attempted to address it?  If this is not your entrepreneurial challenge, share an insight into a challenge you are working to improve upon..

The Path to Being an Entrepreneur

An entrepreneur is a person willing to take-on the various risks related with bringing an idea alive--to bring it to market.  As defined by Wikipedia, an entrepreneur is a person who undertakes and operates a new enterprise or venture, and assumes some accountability for the inherent risks.

Have you ever wondered, “Do I have what it takes to be a successful entrepreneur?” Or, have you ever thought, “I’m just not sure I’m the ‘entrepreneurial type’.  If so, you’re not alone.  Many talented people with great ideas believe they don’t have what it takes to be a successful entrepreneur.  For many, the thought of running their own business leaves them feeling anxious and apprehensive.  For most people, the notion of leaving a secure job or profession creates a host of questions, fears, and uncertainties that kill their dreams before they even have a chance to breathe.  I believe the fear of becoming an entrepreneur stems from a flawed thought-process, which if corrected, can help you find your inner entrepreneur. 

Most people believe that entrepreneurs somehow emerge from the womb at birth.  Many of us believe that being an entrepreneur is an innate skill, and you’re either born with it, or you’re not.   While I agree there are certain people who know virtually from birth that their one mission in life is to found a start-up “widget” company, take it public, and then spin it off into several international widget conglomerates, most of us don’t find our inner entrepreneur quite as naturally. My conversations with many successful entrepreneurs of all ages, sexes, and races have led me to this conclusion.  Entrepreneurs are not born.  They are made.  Being entrepreneurial is not an innate quality that some of us get and others of us don’t.  Rather, an entrepreneur emerges from an individual’s identification of his or her talents, which he or she develops through a course of intentional acts and persistent conduct.  I hope to share insights from my personal journey through this blog and hope that it might be helpful to you in finding your inner entrepreneur.