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Entrepreneurs
and Eagles
(Business Leader Magazine May 2001)
Independent.
Freedom. Courage. Resilient. Resourceful. Risk
acceptance. These are the characteristics of
two species: the human species we call "entrepreneur"
and the bird species we know as the North American
Bald Eagle. What better icon for an entrepreneur
could there possibly be? For centuries this
majestic bird has been a symbol of power, courage,
freedom and independence.
"Wait
a minute", you are saying, "I don't think eagles
flock" and you are right. Unlike most species
of birds, the eagle is a loner. It is also interesting
to note that the bald eagle stays with its mate
until one of them dies. While the eagle can
and must rely totally on its own devices to
survive, as an entrepreneur in today's crowded,
competitive marketplace it is tough to go it
alone. Fortunately, we don't have to go it alone
unless by choice. With the advent of the high
technology era opportunities abound to form
compatible win-win alliances, partnerships,
joint ventures and other creative ways to help
each other succeed. As entrepreneurs, when we
"flock" together we raise our level of success.
One of our greatest strengths is also one of
our greatest weaknesses. With our "passion"
for independence, our resourcefulness, resilience
and a dash of ego, we think we can do it all
without help. This attitude becomes even more
prevalent when we realize others around us don't
have the same passionate feeling for what we
are doing and embrace our vision. The sooner
we understand that we can realize our dreams
by giving and receiving help the faster our
"journey of success" becomes. My mantra has
and always will be, "When your true purpose
is to help others succeed, you succeed".
For
most entrepreneurs the Internet is far from
the panacea it sometimes may seem. It does give
us a new vehicle to market our product or service
and levels the playing field in competing with
larger companies in our industry.
Based
on forty-years experience in marketing, sales,
customer service and entrepreneurial business,
both my own and consulting/coaching entrepreneurs,
I strongly urge you to pause and review the
fundamental purpose of your business. Obviously,
survival depends on two basic elements: there
must be a need, want or desire for your product
or service and, after a period of start-up,
you must generate revenues that are greater
than your expenses. A successful entrepreneurial
business requires much more.
The
entrepreneur's "journey of success" is usually
a long and tough one, filled with challenges
at every crossroad. When you are passionate
about your purpose, you find a way to develop
and acquire the skills to turn your challenges
into opportunities. Over 150 years, Benjamin
Disraeli gave us the formula when he said, "The
secret of success is consistency of purpose".
The
purpose of this column each month, as stated
above, is To Enhance the Success of Entrepreneurs.
There will be no "theories" in this column.
The strategies, ideas, concepts and resources
you will read about each month will be based
on my "real world" experience and the "real
world" experience of many successful entrepreneurs
who have "been there and done it". A blend of
strategies that have proven to be successful
and innovative ideas will help you raise the
level of your success.
Speaking
of your level of success, you can elevate yours
by reading "The E-Myth Revisited" by Michael
E. Gerber. This book will give you a whole new
perspective on your business and help you focus
on successfully making that difference you set
out to make when you made the commitment to
become an entrepreneur.
Gerber
states, "The great business people I have known
seem to possess an intuitive understanding that
the only way to reach something higher is to
focus their attention on the multitude of seemingly
insignificant, unimportant and boring things
that make up every business". He also observes
that we tend to spend most of our time "in"
our business rather than "on" our business.
This fact alone contributes significantly to
the reality that over 400,000 businesses in
this country fail every year.
With
the idea of a viable product or service that
meets the needs of business clients or consumers,
the leadership ability to have others share
your vision and a focused commitment to attaining
success, anything is possible.
According
to "The Oxford Dictionary" an entrepreneur is
"a person who undertakes an enterprise or business,
with the chance of profit or loss". The key
word in this definition is chance. The term
"risk taker" (or to some people, whacko) is
usually the first thought most people have when
hearing the word entrepreneur. Probably "risk
acceptor" is a more appropriate description.
The entrepreneur accepts the fact that risk
is fundamental to realizing their dream. The
key is to balance your passion with the reality
of risk. As a current TV commercial states,
"the greatest risk is to not take any".
My
litmus test for an entrepreneur is someone who
asks, "Why do you do what you do?" That person
should keep their "real job".
Thanks
to Dan Davies commitment to the "Entrepreneurial
Spirit", each month I will be sharing my, and
others, many years of experience to help you
enhance your success. This column is about you.
We welcome and encourage your feedback on your
experiences, needs, topics of interest and real
life stories of successful entrepreneurs. Please
email me at bcoggins@cogginsmarketing.com
or call (919) 848-9299.
May
you earn the success you desire and share your
success with those who appreciate it
Articles
are categorized by topics:
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Ten
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Go
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America…Our
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Be
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Marketing
Developing
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The
4 P's of Successful Showcasing
Sales
Selling
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Fill
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