As we prepare to move into the year 2020, many challenges surface due to the uncertainties. At the same time, we must not forget the opportunities we have at present.
In this video, I share 5 value drivers leading to becoming a highly successful entrepreneur. These are only a handful out of a list of drivers but can make an impact to the growth of a business.
1) Segregation: Having core distinctions between macro and micro drivers is critical for any size of business. Ensuring that every 4 to 6 weeks, entrepreneurs step back to link long term to short term will result in more clarity and thought leadership.
2) Tick Tock: Highly successful entrepreneurs use their time sparingly. They avoid distractions and irrelevant meetings and discussions. These entrepreneurs have laser sharp focus on the leverage drivers and delegate effectively. As we move into 2020, new activities, new opportunities and challenges will unfold. You have to be extremely careful where you spend your time.
3) Core skills: Successful entrepreneurs must ensure they keep evolving and gain the skill sets essential to run a highly successful business. These include going beyond management reports and gain the ability to pick signals, Technological drivers which stand to transform certain aspects of the business, governance and having a leadership mind-set, risk, strategy as well as other relevant skills will enable them to accelerate growth.
4) Resource and System: This is critical to the success of any business. Having the resources include having the right people providing the services you, as an entrepreneur require. This is where you gain leverage. Successful entrepreneurs delegate effectively giving them time to focus on business growth and value multipliers. Further, having the systems in place ensures the operational and feedback mechanisms are maximising return and growth. Having these two elements simply makes an entrepreneur stand apart from the rest.
5) Business Coach: Those who succeed have a business coach. Just like different sports have coaches. The main reason is that appraisals, accountability and gaining traction is on going and not a one off review. If you have the right coach, you will be held accountable for the actions or otherwise. A business coach with the ability to pick signals and trends can help you gain leverage and traction in your business. He or she does not necessarily need to be there in person as we now have virtual facilities available making it simpler and cost effective than ever before.
In summary, the growth opportunities are all over. Growth is non-linear and technology plays a pivotal role in many instances. Having the right people can make a positive impact to your business. Return on your time is equally important and use think time to help you progress further. This is your time to become a highly successful entrepreneur.
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