Summary of Ken Colwell's Starting a Business QuickStart Guide , livre ebook

Everest Media LLC - Everest Media

Découvre YouScribe en t'inscrivant gratuitement

Je m'inscris

Obtenez un accès à la bibliothèque pour le consulter en ligne
En savoir plus

48 pages

English

Vous pourrez modifier la taille du texte de cet ouvrage

Obtenez un accès à la bibliothèque pour le consulter en ligne
En savoir plus

A propos
Informations
Extrait

Description

Please note: This is a companion version & not the original book.
Sample Book Insights:
#1 Ideas are the beginning of everything, but they are not the end. Everything that has been created by people started out as an idea, but not everything that has been an idea has been created. Execution is the key to making opportunities valuable.
#2 Opportunities are an extension of the entrepreneur. They are not just waiting around for an enterprising entrepreneur to come and find them. They are a result of the entrepreneur’s unique blend of background, talent, insight, and perspective.
#3 The process of finding ways to evolve ideas into opportunities should be a structured and disciplined one. Instead of searching for new ideas or knowledge, focus on solutions to existing problems. The simpler the better.
#4 Opportunities exist because different people have access to different information. What is an idea for one entrepreneur may be an opportunity for another who has the resources and the means to execute it.

Sujets

General officer

Economics

General

Informations

Publié par	Everest Media LLC
Date de parution	27 avril 2022
Nombre de lectures	0
EAN13	9781669392897
Langue	English
Poids de l'ouvrage	1 Mo

Informations légales : prix de location à la page 0,0150€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

Extrait

Insights on Ken Colwell and PhD MBA's Starting a Business QuickStart Guide
Contents Insights from Chapter 1 Insights from Chapter 2 Insights from Chapter 3 Insights from Chapter 4 Insights from Chapter 5 Insights from Chapter 6
Insights from Chapter 1

#1

Ideas are the beginning of everything, but they are not the end. Everything that has been created by people started out as an idea, but not everything that has been an idea has been created. Execution is the key to making opportunities valuable.

#2

Opportunities are an extension of the entrepreneur. They are not just waiting around for an enterprising entrepreneur to come and find them. They are a result of the entrepreneur’s unique blend of background, talent, insight, and perspective.

#3

The process of finding ways to evolve ideas into opportunities should be a structured and disciplined one. Instead of searching for new ideas or knowledge, focus on solutions to existing problems. The simpler the better.

#4

Opportunities exist because different people have access to different information. What is an idea for one entrepreneur may be an opportunity for another who has the resources and the means to execute it.

#5

Effectuation is the process of identifying entrepreneurial opportunity when the future is unknown or unpredictable. It starts with the resources at hand and then assembles them to build the goal. Causation, on the other hand, starts with a goal and then searches for the resources needed to achieve it.

#6

Like an actual fingerprint, an entrepreneurial thumbprint is unique to each person. It is a blend of your skills, talents, connections, and experience. It cannot exist independently of you.

#7

Passion is the most important characteristic of an entrepreneur. Where you lack passion for an idea or business concept, another would-be entrepreneur may be excited about bringing it to fruition.

#8

Having a large social network is not a prerequisite to success, but it can help. Your network can help you find investors, mentors, and customers.

#9

The elements of an entrepreneurial thumbprint are not set in stone. As you grow and learn, your entrepreneurial thumbprints become better defined. Nothing is set in stone, and entrepreneurs are not born to start new ventures, but people who are inspired to do so.

#10

A great opportunity: solves a problem for a customer, exists in a strategic space that isn't too crowded, can be executed in a strategic space where you can maintain a competitive advantage, and has a reasonable potential to help you achieve your goals.

#11

The word problem indicates a negative emotion, but that’s not always the case. Customer problems fall into two broad categories: resolving pain and creating delight. Products that do neither have little potential for success.

#12

The best way for new ventures to survive is to carve out a niche that they can dominate rather than compete as a small fish in a big pond. This means that while passion about your venture is a prerequisite for success, it isn’t enough.

#13

If your primary goal is to get rich fast, starting your own business is the worst way to achieve this. The stories of tech unicorns that became immensely successful and rich are the exception to the rule.

#14

The blend of experience, insight, and passion that each entrepreneur brings to the table is a key decider in what makes an opportunity great for him or her and not for another.

#15

The iPod is a great example of how consumers can solve their own problems by using new technology. The iPod solved the problem of how consumers wanted to experience music, and they didn't have a burning need to replace their CD players.

#16

The ability to develop an idea into a opportunity and to see the ways in which it provides value and can be executed is entirely dependent on the entrepreneur. A popular misconception is that opportunities are like cars: plop anyone with a license in the driver’s seat, and the vehicle will get to its destination.

#17

Disruption is a buzzword that is popular in tech startups from Silicon Valley. The term originated from Harvard Business School professor Clayton Christensen in the late 1990s. It defines the concept of disruptive innovation as a principle whereby entrenched market players can be unseated by smaller rivals who offer simpler or less costly solutions.

#18

Competitive advantage is the sum of conditions that put one business in a superior position over another.

#19

The biggest source of competitive advantage is generated by what are known as distinctive competencies, which are a combination of best practices and technical skills that come together in a valuable and creative way that is difficult to beat by your competitors.

#20

Distinctive competencies are the basis of startup companies’ competitive advantages. These advantages allow new ventures to compete with larger, more established companies.

#21

Opportunities are developed from a variety of sources, including active search, different or new information, change, and the process of effectuation.

#22

Before you start your business, you must ask yourself difficult questions and overcome self-limiting beliefs. These beliefs are usually based on generalizations or stereotypes about what real entrepreneurs are like or what the process of starting a business entails.

#23

The idea that entrepreneurs are brilliant, driven, and self-made is false. In his book The Change Makers, Maury Klein profiled twenty-six of the greatest US entrepreneurs of all time, and found that they had very little in common aside from being hard workers.

#24

The talent necessary to launch a business is the same as that needed for any other creative endeavor. The mindset required for success is the same as that required for any other creative endeavor.

#25

The path that you choose is what defines you. All three of these men were successful despite the differences in their background and education, and they all had a deep passion for the path they chose.

#26

The skills required to start a business are not necessarily business skills, but they are critical to the success of your venture. You will need to acquire them yourself, or hire experts.

#27

Humility and self-awareness are two important aspects of leadership. They help you understand your strengths and weaknesses, and allow you to ask for and accept help when needed. They are not hardwired character traits, but aspects of the dialogue you have with yourself and the world through which you see things.

#28

Interpersonal skills, such as communication, listening, empathy, and conflict resolution, are often lumped together with soft skills in business. But in entrepreneurship, these skills become essential hard skills.

#29

The typical twenty-first century startup doesn’t require any of the above items. There are many businesses you can start right from your laptop while sitting in your local Starbucks.

#30

Your web presence can be a two-way communication tool with your customers, but nothing beats social media for creating a dialogue with them. Social media accounts are usually free, but they can incur cost in the form of content production, management, and management software that reduces the time requirements for an active social media presence.

#31

There is no right time to start a business. Any time you choose to jump in will lead to a lot of hard work and demands on your time. You'll have to juggle a lot of balls to keep them all in the air.

#32

Failure is an inevitable part of the testing and experimentation process. For entrepreneurs who are starting out, a large portion of what they do is experimentation. If an entrepreneur doesn’t experiment with a new way of doing things, how can the business grow.

#33

The entrepreneurial mindset is about failure. It is about constantly experimenting with new ideas and initiatives, but realize that not all of them will work out. Inject a healthy dose of natural curiosity about new ideas into the way you think about your business, and the good ones will turn into opportunities.

#34

When failure is seen as a stepping stone to success, and not as a dead end, risk is perceived differently. It no longer becomes static odds, but rather a condition that can be influenced.

#35

Luck, when it comes to entrepreneurship, is a difficult thing to define. It is generally understood to be the result of trying hard, but some entrepreneurs scoff at the notion of luck, preferring rugged slogans like I make my own luck.

#36

A business plan is not just a summary of your business, but also a communication tool, planning tool, and discovery tool. It helps you develop strategy and identify knowledge gaps. It is not a magic bullet that guaranteed success.

#37

The business plan writing process is to ensure that you know the ins and outs of your business like the back of your hand.