3 Apr, 2009 | by Kee Peow
I have been spending many sleepless nights over the years watching the FIFA World Cup on TV and I can’t wait for the latest one coming up in South Africa in 2010. Between the occasional dozing off and celebrating the beautiful goals, I have been inspired to link up the soccer business with entrepreneurship, in particular startup business. I see that there are many important learning points that are useful for startups and small businesses.
The people business
The most important asset that any soccer club has is its people. So who are these people? They are the board of directors, the coach/manager, players and club supporters. Many of the clubs understand this fundamental aspect of their business and that is why they have scouts, agents, brokers, etc. scouring the globe for the best talents.
Now for the startup case, it is similar in the sense that they don’t have many assets in the new company except for its people. That is why it is imperative that the founders spend a large amount of time scouring for talents. I have some experiences putting together new startups and have also received kind advice from folks who tell me that it would be best that I get the people from my social circle, or plainly, people who I know. Despite this, I feel that it would be good actually for me to expand the talent search to outside my circle. This would not only reach out to other great talents but also to diverse views and styles. It is useful to understand that one’s personal circle is never adequate in the search for the talents of the world. The only challenge here is that managing a team of people you haven’t gotten to know very well can be a test of the person’s man-management skill. continue reading »
22 Jan, 2009 | by Erik Luhrs
I created the model of 4 Mind-Sets and 7 Stages of Business Life in order to give you a simple but proven roadmap to success. Here’s how it works.
First identify which mind-set is yours right now:
Technician: In this mind-set you do as you were trained to, depending on leadership and decisions from others. Those dissatisfied will soon become inspired to move to the next level.
Entrepreneur: With this attitude you venture out on your own. But once you become established, you need to delegate work to others and manage time and energy more effectively in order to grow.
Business Builder: In this mind-set you increase success by putting human resources and technical and managerial systems into place. You expand your business – and your profitability – exponentially, freeing up more time and money to look toward the future.
CEO: The CEO mind-set is characterized by abilities, tools, assets, and resources to plot your own course – both professionally and personally – and do whatever you want to in life. You can dream big and then fulfill those dreams because you have reached the pinnacle of success.
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19 Dec, 2008 | by Erik Luhrs
Everyone has problems, but the real underlying problem is that nobody knows how to deal with them in a positive way to convert them into value. Today I’m going to show you how to turn any problem into a powerful solution. Once you know how to do that you can create a business that will go from zero to a billion dollar company in two or three years.
Most of the ideas that come across customer service phone lines – and almost all of the complaints that are registered with customer service representatives every day – could be turned into multi-million or billion dollar products or services. The strange sounding but absolutely true notion that problems are the answer is a concept that goes directly to the heart of entrepreneurship. Entrepreneurs are, after all, people who figure out how to solve problems for a profit.
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