(This is the continuation of the article, “In Times Like These, You Get a Chance to Show Your Strength,” appearing in the April 2009 edition of Inc. Magazine. Please read Part I from two weeks ago if you haven’t.)
What has changed if you’re building a business now as opposed to 10, 20, 30 years ago is the skills. You need to be continually learning. You have to manage your time and not your work! You need a laserlike focus on doing first things first. And that means have a ferocious understanding of what you’re not going to do.
There has been a big shift away from seeing the essence of entrepreneurship as the creation of a better mousetrap to viewing it as the development of a better process. Did Starbucks have a better mousetrap? Or Home Depot? There are lots of really great mousetraps and very few really great processes — whether it be a process of building a brand, building a culture, rolling your approach out to the world. … Isn’t it much more important to create a better process that will produce many mousetraps over time?
Stages of Entrepreneurship:
- Stage One – You have a great idea. (1979)
- Stage Two – You Build a successful business.
- Stage three – You build a great company. (1990s) This is different, because a great company will have, over time, many successful businesses.
- Stage Four – Going from a great company to a great movement! Yes, a movement. Something bigger than the company.
Think about the early days of Apple, which went through all these stages. They started with a great idea, a neat little computer. Then they built a great business around the Apple II. Next came the conceptual step of saying, “Actually, Apple is a company from which many things will happen.” And on top of that was the whole notion of a movement – putting technology in the hands of individuals, giving them a lot more power.
Wendy Kopp built Teach for America. … a great company. But what she is doing goes beyond the company. It’s about a process that will utterly transform people, and they in turn will utterly transform education in this country. That is a movement.
In order to be a stage four entrepreneur, you have to have Three, Two, and One. You cannot build a movement without having a strong, strategically sound business underneath, held together by a really effective set of processes and values. These mechanisms enhance the discipline of what you’re doing and therefore enhance the creativity. Creativity and discipline go hand in hand.
The line between the social sector and the business sector will become increasingly blurred. … We may actually have more to learn from (the social sector) than they have to learn from those of us in the business sector. … In business, we largely have power, not leadership. In a social-sector organization, power is diffuse. So, getting things done requires the ability to truly lead.
THE END.
What are YOUR take-aways from this article? Re-read it, think about it. How can you apply it to where YOU are right today?!
Dick McCormick www.BizSuccessWithLess.com
See also: www.PeakPlanningSpecialist.com