Top 10 things I do as an entrepreneur

March 25, 2015

NORCAT

Agenda

Short history

Top ten things I do as an entrepreneur

Questions, comments

Disclaimer – these are the things I do. I believe they are universal. Results may vary

HistoryMoved to Sudbury in grade onePotato farmerLaurentian University, HBCommBankerRock and Roll MusicianFamily businessAmalgamated businessBad partnersStarted FullerAlways looking for opportunities

1) Really know my vision

Business and personal vision must be in alignment

- Mine = partner of choice, determination, optimism - My vision is my north star. If a decision takes me away from

my vision, it is a bad decision

Think big

Focus on the things I want - Rocking chair test

2) Understand the market

Don’t underestimate competitors

What is the size of the addressable market?

How much market share can I realistically take?

Where is the market going?

Look for blue ocean opportunities - uncontested market space, unlock new

demand

3) Think like a customer

Get paid to help people – don’t think more for less

Use customer needs to drive my decisions

4) Understand what risk management means for

me

Calculated risk – risk management changes with age

An entrepreneur is a person who jumps off a cliff and builds a plane on the way down

5) Do the things that unsuccessful people

don’t

Work hard (and smart)

Set goals – write them down, review them every day

Expect more from myself than anyone else (and forgive myself when I should)

Go the extra mile in everything I do

5) Do the things that unsuccessful people

don’t

Do an act of kindness every day without expectation of reward

Have good rituals

Do what I say I am going to do

Keep commitments to myself

Make the hard decisions

6) Good process leads to good results

A company with average people and good processes will beat a company with super star performers and poor processes.

Solve problems with 5 why’s, not 5 who’s

Read The Toyota Way

7) Have a strong stomach

Have a positive attitude

Live with ad “attitude of gratitude”

Remember the Serenity Prayer

God, grant me the serenity to accept the things I cannot change,The courage to change the things I can,And the wisdom to know the difference

8) Have unstoppable determination

Stop and remember your successes whenever you have a set back

Ask good questions - if you are getting the wrong answers, you are asking the wrong questions

Don’t listen to naysayers

Have positive expectations – plan for the worst, but hope for the best

9) Think and grow rich

Prepare for success and failure

Associate with mentors and people who have achieved the success you are looking for

Make $$$ - cash is king!

You get what you give – give back

10) Have Fun

Life is short

Stay healthy – you are useless to yourself and employees if you are sick

Keep balance and enjoy your family and friends

 

THANK YOU