Here are 998 business ideas – just free for the taking:
Building the Entrepreneurial Team
One of the most powerful and effective things we can do for our clients is to help them to think really hard about how they build the full range of skills and passion that their enterprise is going to need if it is to really work well.
It will need a managing director – someone to work on the business rather than in it. Someone who can make objective decisions for the benefit of the organisation.
It will need someone who is passionate and knowledgeable about the product or service, someone who is passionate about marketing and sales and someone who loves doing the books and preparing financial projections and cases for investment.
- Can your client really fulfil all these demands?
- Will they?
- Or will they default to doing the stuff that they love most?
If they do then at least one vital part of their business will be stunted – and that will be enough to bring them down.
Even if we train the entrepreneur to do everything this problem will develop – because they will always be drawn towards the work that they love – and away from the work that they hate – no matter how important it is to the success of the business.
The biggest favour that we can do them is to help them to build a team that they trust, where other in the team love to do the bits that they hate.
If we don’t do this then it might be easy for us to diagnose the problem (your financial management is weak) and to make a recommendation (why don’t you spend more time on it?) but we will be wasting our breath. If they don’t love financial management they are not going to do it well.
So why do so few advisers actively encourage entrepreneurs to build a team before they write their business plan?
Do you?
Building Confidence and Self Belief
In my experience entrepreneurs fall into one of two types. Either they are excellent (perhaps too good) at building their own self belief and confidence – or they are weak in this area – full of self doubts and expectations of disaster. Some communities are full of people with generally good levels of self belief and confidence. In others the opposite is the norm. In these communities the ability to build relationships with clients that enable them to improve their confidence and self belief is key.
Many enterprise professionals act as if confidence and self belief are the same thing – interchangeable words and concepts – but to me there are important differences. Confidence is a temporary thing, transient, malleable in the short term.
Self belief is a more fixed (but still developable) underlying trait or characteristic that may have been grooved for many years. It is our levels of self belief that dicate whether setbacks are seen as part of a consistent pattern of failure (low self belief; generally low confidence) or as just a temporary setback.
Most entrepreneurs will experience a loss of confidence, but their generally high levels of self belief allow them to see this as just a temporary setback, a blip, a one off. Not something to dwell on or let define their expectations of the future or their own self image.
Generally it is not too hard to identify people with low self belief. Their language is full of self doubt and negativity. “I doubt that this will work”, “I have got this idea – but I don’t think it is very good”.
It is much harder to know what to do about it. There are no quick fixes.
My first observation would be that most enterprise professionals have very little opportunity to do much work in this area because they do not have the time to build really powerful helping relationships with clients. The support that they offer is more transactional (think ‘inform, diagnose and broker’) than transformational (think ‘insight, develop and coach’). Their focus is on developing the business plan not the entrepreneur.
For those that do form more transformational relationships then working with both self belief (in the long term) and confidence (in the short term) are central to their effectiveness. So what sorts of things do they do?
- They help clients to recognise their patterns of thinking and self talk and categorise them simply as ‘helpful’ or ‘hindering’
- teach clients how to replace hindering thoughts and beliefs with helpful ones
- help the client to develop and use affirmations to improve self belief and confidence ( a good example of an affirmation for would be entrepreneurs is ‘all setbacks are only temporary’)
- help clients to recognise and take note of times when they succeed, when things go to plan and make sure that these are fully reflected in their self image
- teach clients to visualise success, to see, taste and feel success in their imaginations before they start to pursue it in the real world
- teach clients to focus on lots of small wins – what can we achieve in the next 30 minutes? 24 hours? This helps to build a climate and expectation of progress – which makes it difficult to maintain low self belief.
I know many enterprise professionals choose to ignore this part of their role. They see it as being counselling or psychology rather than enterprise development. They prefer to focus on the ‘hard’ issues of business planning and finance. In doing so many of them compound issues of self belief and confidence as they have little or no belief in the clients ability to succeed or little conception of their role in helping to develop an enterprising psychology in their clients.
Tumbleweed Moments
[youtube=http://www.youtube.com/watch?v=CEl5k3Tzedc]
We might be moaning about the leaves that blow into the garden – but at least we don’t have 6 ft of tumbleweed to clear away.
But here is what enterprising Idahoans get to do with their problem – sell it over the internet at $16 a pop plus postage!
Can you imagine the conversation with the business adviser?
“I’ve got this idea for a business…you know that tumbleweed that blows all over the prairie…well I am going to sell it to posh shops to use in window displays and as the perfect present for the person with no sense of humour. I think I can make a killing….”
For more business ideas that ‘just won’t work’ (except that they do) – click here.
Sharing the Success Film
[Youtube=http://uk.youtube.com/watch?v=5Hmx1vNTCNc]
This film is designed to provide information to partners about the Leeds LEGI programme – Sharing the Success.
It is not primarily aimed at client recruitment.
I would be interested to hear your thoughts….
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