An “Assumption” is where you believe something to be true, but it is yet unproven while a “belief” is something you are certain is true. As a small business owner, you should always challenge a belief and treat it as an assumption because your beliefs may not be facts.
Assumption vs. Belief – Why You Need To Know The Difference Read More »
Entrepreneurship has changed in recent years and why you may no longer need to write the classic version of a business plan.
Why Being Told You Need a Business Plan May Be Bad Advice Read More »
Most guides on building a business involve the same sort of rehashed content. The thing is a lot of these pieces of advice aren’t true. They’re either misinterpreted by the new entrepreneur or they’re completely wrong.
Most People are Wrong about How to Build Your Own Business, Here’s Why Read More »
One of the problems with obtaining any kind of knowledge, especially when it comes to business, is that while some kinds of knowledge can be easily codified and articulated to others (Explicit Knowledge), there are also some forms of knowledge that are much harder to pass on and must be experienced (Tacit Knowledge).
Tacit Vs Explicit Knowledge – Why You Need To Know The Difference Read More »
Many individuals with stellar academic performance go on to become wonderful scientists, engineers, and even professors but with mediocre earning potential. Entrepreneurs need to be a jack of all trades and not an academic master of one.
Success Comes From Being a “B” Student Read More »
Business owners too often confuse cause and effect and expend significant effort solving the wrong problems. A tool that can help business owners to separate cause from effect is known as a fishbone diagram.
Do You Suffer From a Cause and Effect Fallacy? Read More »
The people that reside in your inner circle of friends can profoundly influence your success in life and business. To be a successful entrepreneur, you need to evaluate the company that you keep to see if it is aiding in your success or hinder it. Are your Friends preventing your success?
Are Your Friends Preventing Your Success? Read More »
Conventional business advice is that in order to have a successful business you need to write a business plan. However, did you know that the simple act of writing a business plan can often lead your business to fail?
The Simple Truth Why Business Plans Cause Business Failures Read More »
Recently, I was speaking at a local community college about the value of an entrepreneurial mindset. While there, one student asked me, “How important do you think a college degree is to becoming a successful entrepreneur?” The question was a bit awkward since I was the guest speaker with no college education and there were
A College Degree and Entrepreneurship in the Millennial Generation Read More »
You need to shape the future rather than predict it. Why a manager entrepreneur approach is very different from a founder entrepreneurs
Exploit the Future by Shaping It – Don’t Try to Predict It Read More »
Learn how the strategic partnership principle practiced by founder entrepreneurs can help you build products for little or no cost
Strategic Partnership Principle – The Truth about Competitive Analysis Read More »
The reasoning style of the manager entrepreneur, with their predominantly causal reasoning, approaches a business startup very different from the founder-entrepreneur, who approaches a startup business primarily with effectual reasoning.
How Your Reasoning Skills Can Affect Your Business Success Read More »
Previously, we looked at how the startup landscape has changed and that you might not need a formal business plan to successfully launch your business. In this post, we will look into why we keep getting the same old business advice. What has emerged, as the funding and risk gap has widened, is a greater
Why The Business Advice You Are Getting Is One Sided Read More »
Innovations and manufacturing businesses have different planning requirements than the more common support and local service businesses.
Why The Business Planning Advice You Have Received Is Probably Stale Read More »
The average person is told as a child to be quiet, stay out of trouble, and don’t make waves. If they go to college, they are told to set realistic goals and expectations for their lives. The worldview they adopt is that life is dangerous and scary. It is best to play it safe and
Coloring Outside The Lines Read More »
Discover Why Ambitious Business Owners Seek Out Those Further Along the Journey and How You Can Do the Same to Elevate Your Mindset and Results.
Why Successful Entrepreneurs Avoid Their Peers (And What You Can Learn From Them) Read More »
Nothing Is More Dangerous Than an Idea When It Is the Only One You Have. Learn Why Smart Entrepreneurs Always Seek a Second Answer and How to Use Tools Like the Business Model Canvas to Explore Better Solutions.
Think Twice: Why Your First Business Idea Might Not Be Your Best Read More »
Climate change has been blamed on our overuse of fossil fuels and pegged as the leading cause of the inevitable doom of our species. However, climate change in the form of ice ages and droughts has occurred many times during the period of mankind. Climate change has even led to some of our most important
Climate Change Spurs Innovation Read More »
Most Entrepreneurs Don’t Credit School For Their Success. It’s Focus, Grit, And Learning By Doing That Truly Define The Entrepreneurial Journey.
Forget the Diploma: What Entrepreneurs Really Need to Succeed Read More »
Between a stimulus and our action is a period of time. Sometimes that time period is very small and an unthinking “reaction.” Other times it can be long and is a thoughtful “response.” A reaction lacks conscious intention while a response is more conscious and thoughtful. For example, if a bee stings your arm, the
Reaction vs. Response Read More »
You Can Lose Every Dollar, But You Can’t Lose What You Know. Discover Why Real Wealth Isn’t in the Bank, But in Your Brain—and How to Start Building It.
Lose the Money, Keep the Skills: How Experience Builds True Security Read More »
Personal Freedom Is About More Than Just Money. It’s About Control, Choice, and the Power to Design a Life That Aligns With Your Values. Discover How to Claim Yours.
How Business Ownership Unlocks True Personal Freedom Read More »
Most People Think High IQ Is the Key to Business Success, But That’s a Myth. Discover Why Being an Entrepreneur Requires a Different Kind of Smart—and How You Might Already Have It.
What Kind of Smart Are You? Why School Grades Don’t Define Entrepreneurs Read More »
Most People Let Their Bank Account Dictate Their Decisions. But Entrepreneurs Think Differently. Discover How Non-Linear Thinking Can Open New Opportunities.
The Key Difference Between Linear and Non-Linear Thinking in Business Read More »
Most People Earn Money by Trading Hours for a Wage, but This Approach Has Its Limitations. Entrepreneurs Think Differently—They Generate Income by Identifying Problems and Creating Solutions. This Post Explores How Shifting From a Wage-Based Mindset to One Centered on Creative Thinking Can Unlock Greater Financial Potential.
Work for a Wage vs. Creative Thinking Read More »
Some time ago, I did some research on the role dyslexia plays in entrepreneurship. I came across findings by Sally Shaywitz of the Yale Center for Dyslexia & Creativity that indicate dyslexia is a key attribute of many successful entrepreneurs. Notable figures such as Richard Branson, William Hewlett, Henry Ford, Ted Turner, and Charles Schwab
Dyslexia and the Entrepreneur Read More »
As you might imagine I have the occasion to speak to lots of successful business people and spend much of my time trying to understand what attributes make for a successful entrepreneur. One difference I see is how non-entrepreneurs and entrepreneurs approach education. The vast majority of my friends that have successful jobs working for
An Entrepreneur’s Perspective on Education and Success Read More »
One of the goals of this blog is to help entrepreneurs think about common problems in totally new ways. To that end, I would like to introduce you to Takeru Kobayashi, who as a rookie in 2001 smashed the world hotdog eating record simply by rethinking the problem. Up to that time, the record for
Rethink The Problem Read More »
Fear Of Failure Is Real, But Today’s Entrepreneurs No Longer Need To Quit Their Jobs Or Risk Their Families’ Financial Security To Start A Successful Business.
Afraid to Start a Business? Here’s How to Begin Without Risking It All Read More »
Are You Too Experienced to See New Opportunities in Your Industry? Discover How Fresh Eyes and a Little Ignorance Might Be the Key to Entrepreneurial Success.
The Surprising Advantage of Being an Industry Newcomer Read More »
I recently read an article talking about the school voucher program and how it would force schools to be more competitive. While I think there is some merit to the school voucher program there is a much more important business lesson here. A school voucher program would mean that parents could send their children to
Just Because You Hear Something Repeated Often Doesn’t Make It True. Learn Why Critical Thinking Is a Superpower in Business and How to Start Using It Today.
Why Smart Entrepreneurs Question What Everyone Else Accepts as Truth Read More »
Think You’re Marketing to the “Average” Customer? That Person Doesn’t Exist. the Concept of “Average” Is a Mathematical Illusion. in the Real World—And Especially in Marketing—It Can Lead You Far Astray. Discover Why Targeting the Typical or Median Customer Is a Smarter, More Profitable Move.
