The Business, Investment & Entrepreneurship Triangle Paradigm – The Context

While studying the Robert Kiyosaki articles & Rich Dad series, and other business managerial literatures I came to know about The Business, Investment & Entrepreneurship Triangle Paradigm, which is necessary to keep development in growth track

Every business & entrepreneur venture is defined its organization context & working content. The organization context can be described as a structured boundary wall within which every contents has to lie down in and shaped the content accordingly.

The most successful business organizations prefer that the context should be in Triangle. The primary intention to retain the organization in one unique form, as the triangle has tightly coupled. If the content in triangle will try to exceed itself then the shape will disorder and it will become another shape unlike to triangle. Other diagrams (e.g. circle, triangle etc) are having loose coupled characteristics, they can be stretched out if the content in it try to increase and this will affect the entire organizational working behavior, productivity & final output.

There will be 3 components that are essential pillars of the any organization, if it bound itself in triangle context.

· Mission:

The mission of any organization is the most essential part to it’s survival. The reason the mission is so very important is that it serves to keep the organization focused and guided toward a specific end result. The mission of one organization serves as a guiding light during all stages of the company’s growth and existence. The mission sets the entire organization’s collective efforts and operations

· Team:

When each member on a team is driving toward the same goal, the collective attitudes, knowledge and philosophies of the entire group begin to mesh together and act as one mind. It is a collective conscious entity that runs through the entire group.

· Leadership:

The leadership has a vital role in any organization. It moves the team(s) with single-minded determination to achieve their mission.

(The Inspiration is from Robert Kiyosaki (The Rich Dad Series) & Financial Freedom Library)

The Entrepreneurial Individual Part III (Final)

In connection with the previous post (The Entrepreneurial Individual Part II), the entrepreneur also needs to have some set of Skills besides the Attributes.

THE SKILLS NEEDED BY THE ENTREPRENUERIAL INDIVIDUAL:

ANALYSIS:

The entrepreneurial individual who succeeds does so because they know what is going on in the world. They are able to acquire information either personally or through others, analyze it and then use it to move towards.

The SPECTACLES analysis:

The SPECTACLES acronym stands for: Social, Political, Economic, Cultural, Technological, Aesthetic, Customer, Legal, Environmental, & Sectoral. It is these areas of the external environment that the entrepreneur needs to examine for their impact on his or her plans. From them will be generated a set of threats and opportunities that can be acted upon.

Analysis is a skill that requires discipline. Any business analysis needs to be carried out in a logical, planned way. Part of the analytical discipline is not rejecting information that does not seem to fit in with the entrepreneurial individual's plans—such information is often the most important as it may point to deviations and variations.

Successful business activities also require careful analysis of the internal aspects of the individual entrepreneur's organization including finance and his or her own personality—a crucial factor when considering individual entrepreneurship.

NETWORKING:

Individual entrepreneurs tend to know a great number of people. The ability to network is crucial to their business.

Networking skill includes communications, conversational, and vocabulary skills. The individual will want to build up a relationship as fast as possible and access information in the most efficient manner. They also need to put across their own charisma as expeditiously as possible.

The more the individual entrepreneur is aware of themselves, the more they can network with others and gain the synergy that can be developed from a combination of efforts.

BUILDING RELATIONSHIPS:

Linked to networking is the importance of relationships. By studying motivation and other aspects of human psychology the entrepreneurial individual is in a better position to influence those who they will need to assist them in making their vision a reality.

NEGOTIATION:

The process we undertake to get somebody to do something (without using physical coercion) is known as negotiation. There are many texts on negotiation and all-important art of compromise. The better the networking and the stronger the relationships, the easier negotiations usually are. Compromise is nearly always required and a key negotiating skill that the entrepreneurial individual must develop is that of knowing precisely how much they can afford to give when compromising and assessing quickly and accurately the bottom line of the other partner in the negotiation.

SELLING:

Selling is, in essence, a form of negotiation with similar concepts. There are two things, however, that the entrepreneurial individual must sell long before there is a product or service to offer to customers.

The first of these is the vision and second is the entrepreneur themselves. It is a characteristic of individual entrepreneurship that the entrepreneur may be as important a factor in making a deal as the nuts and bolts of what is on offer. If you are, or aspire to be, an entrepreneurial individual then you need to be packaged, promoted, and sold in a manner that will gain you maximum coverage. There is absolutely nothing wrong with seeking publicity (provided the means and the actions are legal)—it is, after all, nothing more than personal advertising.

FINANCE:

No business can survive without the resource we call money. Whilst the entrepreneurial individual does not need to be an accountant (there are plenty of accountants around whose services can be bought-in), they do need to understand the financial concepts that are used in business.

Sources of finance:

The entrepreneurial individual also needs to know where finance and assistance can be acquired. Banks and venture capitalists are useful sources. Governments often provide tax breaks and free advice to those starting or expanding business operations. This is where the networking skills can be put to excellent effect— find out who will put money in and what help the government or other organizations can provide.

The role of occupational skills:

It is not necessary for the entrepreneurial individual to possess any particular occupational skills. Some knowledge may be required for credibility but often those closely associated with an occupation may be too close to its traditions to see new possibilities. If an entrepreneurial individual has an idea, they can always buy-in the relevant professional expertise.

SUPPORT & HEALTH:

Discipline not only applies to work practices; it can be just as important in respect of food and drink. A healthy body aids a healthy mind, as the old saying goes!

It is important that the entrepreneurial individual has the support of their nearest and dearest. As the vision can consume much of an entrepreneur's time it is vital that space and time is made available for family relationships—they are just as important as, if not more important than, business ones.

Do not neglect those who care about you. If all goes well you will want to share the success with them. If it goes wrong, you will need them more than ever.

(Roger Cartwright)

The Entrepreneurial Individual Part II

It was discussed in my last post (The Entrepreneurial Individual Part I) about the basic structural information towards entrepreneurship. Here are some Attributes needed by the Entrepreneurial Individual.

The Attributes needed by the Entrepreneurial Individual:

Vision:

Everybody, it seems, who has ever commented on entrepreneurship mentions vision. Without vision it is impossible to be an entrepreneur. It could be described as a dream with direction. The visionary not only dreams about something, they almost experience it in real time. A dream is experienced, a vision is lived in.

William Heinecke says that entrepreneurs should "set goals about go easy on the vision thing." Setting goals is important but without vision the daring step are never taken. As the author has written when considering customer relations (Mastering Customer Relations [2000]), goals and objectives should be C-SMART:

• Customer-centered
  
• Specific
  
• Measurable
  
• Realistic
  
• Timely
  

Vision can be individual entrepreneur-centered as long as it is then translated into a customer-centered approach to business. Indeed, vision is individual. One of the hardest things an entrepreneur has to do is to communicate their vision to others in such a way as to fire enthusiasm.

Vision does not have to be realistic-it needs to push back borders and it certainly does not need to be agreed with anybody, save your own imagination.

The entrepreneurial individual or potential entrepreneurial individual need to ask themselves, "What is it I want from life, not just in financial, but in social, cultural, family etc….., terms?" Once that is articulated they can begin to build a vision around those ideas.

Entrepreneur appears addictive towards his vision!!!!

Commitment:

Commitment means head work and an approach to the business that borders on obsession.

The entrepreneur must be prepared to commit to their vision. They must commit in the sunshine and the rain, on the really good days and on the awful ones. Commitment is the fuel to take the project or business to the vision.

The commitment of the entrepreneurial individual must be long term. Patience and tenacity are needed to see a business or project through to success. There will be failures as well as successes and it is an important part of self-belief to be able to deal with both. Failures should not lead to giving up but to learning lessons and there should be no complacency or diminution of commitment when success occurs. Success is the platform for moving on to the next challenge.

Self-belief:

Entrepreneurial individuals believe in themselves. Not only that, they also possess another linked attribute that makes self-belief work: they know their limitations.

Self-belief requires success to sustain it, which begs the question, how can success be guaranteed? One method of making success as certain as possible is a technique known to teachers all over the world and is that of "chunking". Within the overall vision, a series of goals can be set, success in one leading to work on the next, and so on. By chunking in this way confidence and self-belief can be built up. Start small and in stages and work up with each success.

Knowing one's limitations is also very important. The person who knows their limitations well not try to accomplish something they know that they cannot achieve success at until they have acquired some new skills or resources. This does not mean that they give up. If the task is important to the vision they will go out and either acquire the skills or resources for themselves or find somebody who can help.

Discipline:

The entrepreneurial individual is there for the long term and that requires a considerable degree of self-discipline. Entrepreneurship requires focused effort and that requires discipline with human, physical, financial, and time resources. Nothing should be wasted, especially time.

We all have a degree of discipline – we have to in order to survive in a society that lays down rules. This discipline can be worked on to make us more disciplined. To some it is more natural than others but with effort it is available to all who want it.

Now the picture is being built up:

VISION à SELF-BELIEF à DISCIPLINE

Entrepreneurship is not one single attribute or skill; it is a mosaic of a number of them combining to assist in reaching the vision.

Risk-taking:

It might be thought that risk-taking is a negative attribute. However, in the case of the entrepreneurial individual it is the taking of calculated risks after a careful analysis of the factors involved and an assessment of the chances of cusses that is important. Without risk-takers there would be no progress-somebody has to take the first step.

It must not be thought that risk in these terms means a lack of caution. Entrepreneurial individuals weigh risks very carefully and then after a careful analysis of all the internal and external factors may take a risk that a more conservative minded individual would eschew, but only if the pay-off is high and risk is not likely to endanger the vision or their financial survival. Risk is very much a relative term.

Creativity:

The individual entrepreneur has to see the possibilities and devise strategies for achieving them. Pushing the envelope has to become second nature of them.

For every possible course of action consider alternatives. What could be done if …. ? Thinking is as important to the entrepreneurial individual as doing because it allows the vision to be clarified into actions. Entrepreneurs, being at the cutting edge of whatever business they work in, have to be creative. In many cases they are rewriting or even the breaking the rules. Christopher Price has said, "Business rules are good: break them." Perhaps this should be changed to: business rules are necessary so re-write them to fit the changed circumstances. To do that one needs to be creative.

(Roger Cartwright)

 

How to Flee an Ailing Industry

by Diana Middleton
Monday, June 1, 2009

With the unemployment rate hitting a new 25-year high Friday, many workers and layoff victims in the worst-suffering industries are looking for safer sectors.

Industries including autos, financial services and retailing have been hit especially hard during the recession, shedding tens of thousands of jobs. Even as the overall job market shows signs of stabilization, companies in some of the worst-hit sectors may recover more slowly, and job-seekers may be better off looking at new industries.

But making that change can be tough. We asked career coaches and human resource experts how to navigate into a new sector.

Redeploy your current skills.

Look for growth industries – or less hard-hit ones – where you can put your current skills to use. If you're an accountant at General Motors, for instance, look for companies in other industries that need accountants. "People often don't want to leave their industries, because they're comfortable there, even when they're miserable," says Trudi Schutz, a Connecticut-based career coach. She suggests job-hunters look for "careers that use those same skills they love, but in a new way." She worked with a former car salesman, for instance, who found work within the last six months as a pharmaceutical salesman.

Which industries to target? Consider employers in healthcare or "green" technology, which are both experiencing growth, said David Lewin, a management professor at UCLA's Anderson School of Management. Education and government are also stronger than most.

But, be willing to learn new skills – in new locations.

Adaptable people who are willing to retrain themselves and relocate will be the most attractive to potential employers, says Max Shapiro, chief executive officer of PeopleConnect, a California-based staffing company.

"Companies want people who can multi-task," he says.

Ms. Schutz suggests going back to school or earning certifications to bolster a resume. "The more senior someone is, the more likely it is that he or she will have to repackage the skills that they already have," she says.

Build a network outside your industry.

Many job seekers have been recruited their entire professional lives, and don't know how to successfully nab a job on their own. Go beyond your usual professional network, says Paula Marks, a career coach and executive recruiter.

Ms. Schutz suggests making a list of your closest contacts, people who "you can trust to brainstorm your wildest ideas." Then, keep talking with people in your network, and asking for them to put you in touch with others. "Chances are, someone will lead you to someone else who will lead you to someone else," she says. "I have a very high success rate when people just talk to every single person they know about opportunities."

Utilize social networking sites, such as Facebook and LinkedIn, and join professional organizations, particularly those that don't define focus on just one industry. Consider religious groups too, says Dee Soder, founder of CEO Perspective Group, an executive coaching firm.

Research other industries in newspapers and online to become familiar with the lingo as you network. "I tell my clients to spend some time reading articles and learning buzz words and slang for different companies," Ms. Soder says.

http://finance.yahoo.com/career-work/article/107156/How-to-Flee-an-Ailing-Industry?mod=career-leadership

The Entrepreneurial Individual Part I

Entrepreneurship can be defined as a business philosophy that is concerned with growth, is proactive rather that reactive, customer-focused, accepts the risks involved in a venture and then takes risks that seem likely to bring sustained growth and market share, is prepared to tolerate failure, and lastly, has a large number of its employees who share the vision and believe in the same values and ideas as the entrepreneur him/her self.

The attributes are:

• Vision
  
• Commitment
  
• Self-belief
  
• Discipline
  
• Risk-taking
  
• Creativity
  

Whilst the skills on:

• Analysis
  
• Networking
  
• Building relationships
  
• Negotiation
  
• Selling ideas
  

It is well-known that skills can be learnt and developed but what of attributes? Are they innate or can they also be developed? It is fair to say that there are some who could never be entrepreneur, and those for whom it is a natural state of affairs. However, in between are a large number of people, perhaps the majority, who have latent attributes that need bringing out and developing for them to become entrepreneurs, perhaps in a small way but entrepreneurs nevertheless.

(Roger Cartwright)

Some Preparatory Thoughts

1. Calm yourself and your mind before doing the exercises.
   
2. Be prepared to DO the action necessary to accomplish each exercise.If necessary, make a pact or commitment with yourself to do the exercise as outlined so you know you've struck a deal with yourself.
   
3. Understand that the exercises cannot fix you -- you are responsible for yourself. Only you can fix you.
   
4. Be fully honest at all times with yourself. Keep a daily journal and tell yourself what's on your mind before each day's exercise routine.
   
5. If you don't like something that is going on in your life, say so. Then ask yourself what action you can take to fix it.
   
6. Recognize that progress comes one step at a time, and be prepared to decide on each step to be taken. Then take action so that your goals can become reality.
   
7. Be still and listen to your inner self-guidance. Hear your inner voice without any preconceptions and without overlaying it with the thought patterns that have held you back in the past.
   
8. Recognize that outer and inner changes will most likely happen together, because one is unlikely to occur without the other.
   
9. Be open to success, and to wonderful changes in your life. Expect them, demand them and know they will come.
   

Corporate Lessons from Children

The most beautiful, challenging, yet thrilling dimension of a training career comes from interacting with children. They are smart, creative, simple and honest. These four attributes are, however, quite rare in most modern workplaces. Although we do invest a lost in making our employees creative, the environment we provide is often contradictory.

Here are few observations:

• Children ask for everything- no matter how expensive it is. They don't care about who actually owns it. They know what they want and they demand it. Grown-ups on the other hand, waste their lives wondering whether to ask for it or not!
  
• Children always want to win, without hurting someone else. They don't create trouble for others in order to pursue good for themselves… they just care about winning. Are we still that eager, yet not greedy?
  
• Children are happy without any particular reason. Searching for reasons to be happy for many adults is close to nonsensical.
  
• Children get bored quickly. They hate doing the same thing over and over again. This disenchantment gives them the hunger to find new things to do, or at least new ways of doing the same old thing.
  
• Children forget grievances, and more on with building stronger relationships. They fight, they yell- yet they settle issues, 100 times faster than adults. What a shame for us older lot.
  

(Dawn Classified, Dated: 08^th Mar 09)

Problem Solving Tactics

Tactic	Action	Outcome
CLARIFYING	Re-read the problem as if you were editing it: analyze givens, make unstated assumptions explicit, clarify goals.	A restatement of problem--its givens, assumptions, and goals--in your own words.
VISUALIZING	Draw a figure and label givens, close your eyes to form a mental picture and then imagine what the experiment would look like if you set up the equipment.	A figure, diagram, model which should help you see relationships between givens and unknowns.
ANALOGY	Recall or use the text or notes to find a similar problem, method, result, useful theorem technique.	A model to follow in solving your problem.
SUBGOAL	Break problem into simpler problems; do only part of the problem.	Partial solutions leading towards goal.
ALGEBRAIC	Introduce variables for unknown; write equations, relations.	Symbolic representation of the problem.
BRAIN-STORMING	Think of every formula or definition related to the concept or terms.	A list of formulas, conversion factors, or definitions to be used.
QUESTIONING	Assume you are going to ask the instructor for help: what would you ask? Identify what you need to know to solve the problem.	A list of questions whose answers lead to a solution.
UNIT ANALYSIS	Compare units in answer you want to compute with units in given information; look for conversion factors involving these units.	A series of relationships involving units which can be multiplied or divided to get desired goal.
IDENTIFYING	Identify concept behind problem, type of problem, section of book from which taken.	Once you know the concept behind the problem you can use brainstorming, analogy, or other tactics.
TEAM	Work with a classmate or friend.	Discussion of ideas which can lead to broader understanding.
TRIAL-ERROR	Hit-miss attempts; try special cases.	Corrective feedback, better understanding of problem; may lead to induction.
INDUCTION	Try cases, searching for a pattern.	Generalizations and insights about problems.
WORK BACKWARDS	Begin with answer if given, or approximate an answer, try to figure out how it was obtained.	The process for solving the problem.
LOOK BACK	Check and verify your work; is solution reasonable?	Verification of solution.
INCUBATE	If making no progress after 30 minutes, stop working on problem, sleep on it, or leave it for a few hours.	An opportunity for insights and ideas to develop.
GO FOR HELP	Ask for hints or explanations.	Obtaining necessary insights and strategies.

www.utexas.edu/student/utlc/supplemental_instruction/manual/probsolving-groupwork/probsolve-tactics.doc

New Year Resolution!

09 days have been passed away of year 2009. If we couldn't pass our Resolution year 2009, then we should be prepared now. Goal's Life milestones will be listed down. There are difficulties that are occurred during moving towards the milestones. To overcome them, divide your routine in to four types of boxes that must be listed down in tabular form as following.

Urgent & important (40%) (Critical ones) Tasks that must be concentrated. Complicated ones	Urgent but unimportant (10%) (Routine) Regular tasks followups
Not urgent but important (40%) (planning that needs time) Career R&D	Neither urgent nor important (10%) (relaxing) Useless entertainment gathering

 

If these types of tasks are displayed on eye catching fair visible area like in front of computer desk, wall, white board etc. This will make easy to have task list in mind's unconscious area.

If you visualize your goals that you would like to achieve in your life, the easy way is to mark them between two points (birth & death).

Birth         X    X    X    X        Death

            20    30    40    50

X are the major targets to be achieved in life

Will see… how its work.. Good Luck..

 

Are You Creativity Enough?

To be creativity we must have right set of skill, mixture of Motivation, Domain Knowledge & of course the creative thinking. For this we have be cool minded, reading & writing techniques, planning ability. Creative mind always take difficulty as an opportunity. In fact they are the opportunist. Who want to face the realities of life and try to discover new ideas, create something extra ordinary & make the place for innovation.

Slavery thinking, lack of motivation, fear of failure, hesitation to accept new ideas & unwillingness to face the reality may cause the hurdles to be creativity. Where the one only finds himself in trouble to get the basic needs of life are more likely to become dump.

To cultivate the creativity, we should build social environment in a sense where everyone will have right to think freely, appreciate new blooming ideas & ambition of life. Besides that one should have proper health. Every human who is born in this world, always have set of skill that he have. So, he should have equal rights.

No matter what the skills might you have, but you may find ability of creativity thinking in your routine life.

• Find the what, why, when…
  
• Do practice more & more
  
• Set your life milestones
  
• Arrange proper luggage (skills, knowledge, domain expertise etc)
  

True; Creativity is a God gifted talent but it can be build up after drilling down by our own.