- Slides: 27
ENTREPRENEUR THINKING LEADER
LEADER THINKING AIMS & OBJECTIVES Aims ▸ Consider the entrepreneur as a Leader and their value role Outcomes ▸ Understand the process of Leader thinking ▸ Positive thinking and motivation as tools for success ▸ How do we deliver value
ENTREPRENEUR AS LEADERS – HOW DO THEY THINK? LEADER THINKING ▸ People who are highly successful think differently from everyone else. ▸ The good news? Their thinking habits can be learned. ▸ Good thinkers are always in demand for their abilities ▸ Because anything great begins with a thought and anything worthwhile comes from a great thinker. ▸ Entrepreneur as a Leader focuses on results & motivation.
ENTREPRENEURS ARE GREAT THINKERS AND GREAT LEADERS. SOLVE PROBLEMS THROUGH THINKING ▸ Leaders know how to solve problems and motivate people to achieve results ▸ Leaders think differently than followers and they achieve more than most. ▸ The good news is that successful leadership thinking is something you can learn. ▸ There are loads of courses about leadership ▸ For entrepreneurs, leadership is about motivation, sales & achieving results ▸ Here are eight things Leaders think.
BREAKING DOWN THE PROCESS - THE FAMOUS 8 - PAIDBACK WHAT LEADERS THINK ABOUT: DELIVERING VALUE 1. Planning 2. Action 3. Intention Ingenuity Interest 4. Desire 5. Benefits & Features 6. Advantages 7. Connection 8. Knowledge www. entrepreneur-thinking. com
8 KEY LEADER THOUGHTS AND ACTIONS ENTREPRENEUR AS LEADER What Leaders Think About Planning We all need direction, its no use turning up at the airport for holidays at the wrong time having packed unsuitable clothes Action We must motivate ourselves and others to take action, Interest, Ingenuity, Intention Desire Here we are selling our ideas and commitment to provide solutions. Benefits and Features Advantages How we solve the customer’s problems, these must meet the customer’s wants and needs Connection People buy people, at the end of the day people will only buy what your selling if they like you By asking questions we will find out what is our customer’s pain Customers will only buy where the advantages of owning the product or service outweigh the value of holding on to their money Succeed or fail, what are the lessons we can learn today for
LEADER THINKING MOTIVATION ▸ Motivation and positive thinking can help you achieve what you want and move people to achieve what they want & need ▸ Motivation, is "the set of reasons that drive us to engage in a particular behavior" such as buying or selling ▸ When we are motivated to do something we mean we have compelling reasons to do what we do and to succeed. ▸ People are usually motivated to move away from pain toward a more desired position
WE ARE MOTIVATED TO MAKE A DIFFERENCE MOTIVATION & POSITIVE THINKING ▸ Motivation and positive thinking make a difference on: ▸ Facing our fears, particularly change, new job, new ways ▸ To pursue our challenges or goals and not give up ▸ To move forward and take up new challenges. ▸ Motivation helps us keep on working hard at our tasks.
LOVE AND HATE TWO TYPES OF MOTIVATION: 1. Motivation to do the things that we want to do: ▸ Sometimes you may want to do something so much, like painting or writing or going for a run, that you don't need any motivation you just feel like doing whatever that is. ▸ Challenging work projects that provide great benefits ▸ Where we want to feel motivated, we get on with our tasks without procrastinating and feeling bad about it. 2. Motivation to do the things that we don't want to but have to: ▸ Such as a difficult work project, attend a training course
PMA – BUT YOU MUST REALLY WANT IT, BE MOTIVATED TO ACHIEVE IT MOTIVATION, COMMITMENT AND PASSION ▸ The strength of combining motivation and positive thinking ▸ We can use motivation and positive thinking to reach different goals. What’s in it for me? ▸ It is much easier to get on to doing anything when you clearly know the reasons why you want to do it and you can identify the benefit you'll get when you achieve your goal.
MOTIVATE ME! MOTIVATE YOURSELF! REMOVE PAIN OR MOVE TOWARDS PLEASURE Motivation Steps What to focus Many people cruise through life not even knowing what they want, on just reacting to what comes along, either accepting it or rejecting it. What it means You have the power to choose what you want. Usually, to remove pain or gain pleasure Why do you want it? This is your motivation. Your reasons to have, be or do something must be strong enough to carry you through the path to your goal. What to do You must take action or it won’t happen What not to do Give up
OVERCOMING TENSIONS – MOTIVATIONS AND POSITIVE THINKING USE MOTIVATION AND POSITIVE THINKING TOGETHER. ▸ Use visualisation techniques and positive affirmations to make you create now the feeling you will have when you achieve your goal. Get sales, buy car, take a holiday! ▸ Motivational tools may include meetings, charts or posters ▸ Push and pull, ▸ Lots to do, feel motivated to get things done ▸ Less to do, feel motivated to complete the task
PAINT A PICTURE SIMPLE GOAL SETTING Define the reality Define what you would like instead I am 10 kilos overweight I do not enjoy my job I am renting a flat I do not know how to paint I want to weigh 180 kilos I want to work in a job I enjoy I want to be own a house I want to paint well". State what you want Take action
MAKE A STRATEGIC DECISION TO SIT AND THINKING TIME ▸ Leaders need to make time to reflect, analyse and make adjustments on opportunities and challenges. ▸ Many leaders don’t make time – at least not enough of it. ▸ Bill Gates, takes a week off twice a year – spent in a secret waterfront cottage – just to think and reflect deeply about Microsoft and its future without any interruption. ▸ Warren Buffet said “I insist on a lot of time being spent, almost every day, to just sit and think”.
DO THE MATH WHAT DOES NOT FIT? ▸ Ask yourself, of the various activities and businesses that you have moved into, do they make sense together? ▸ Individually, each of them may seem attractive, but can you explain why they would work well together; why the sum is greater than the parts? ▸ Steve Jobs having cut a seemingly attractive business line: “Although micro-cosmically it made sense, macro-cosmically it didn’t add up; the sum was less than the parts”. ▸ If you can’t explain how the sum is greater than the parts, reassess its components.
BENCHMARK, SEE THROUGH THE COMPETITORS EYES WHAT WOULD OTHERS DO ON DAY ONE? ▸ Firms often suffer from legacy products, projects or beliefs. ▸ Things they do or deliberately have not done. ▸ “Escalation of commitment”; we have committed to something, and determinedly fought for it – and perhaps for all the right reasons – but now that things have changed and it no longer makes sense, we may still be inclined to persist. ▸ A good question to ask yourself is “what would other, external people do, if they found themselves in charge of this company? Pretend we are starting a new job, ask ourselves what would we do, and then do it ourselves. This thinking led Intel to withdraw from the business of memory chips, and focus on microprocessors. This resulted in more than a decade of 30 percent annual growth in revenue and 40 percent increase in net income.
VISION, MISSION, GOALS AND STRATEGY MUST ALIGN WITH VALUES IS MY ORGANIZATION CONSISTENT WITH MY STRATEGY? ▸ What would the organisation look like if you could design it from scratch, today? ▸ Cut bureaucracy, ▸ New team structure, ▸ Abandon many company rules. ▸ Ask whether the way the company is set up is ideal for its strategic aspirations. If not, why not and change it.
DON’T REINVENT THE WHEEL! BUT DISCARD IT! ASK YOUR CUSTOMERS WHAT THEY WANT ▸ Why do we do it this way? ▸ Because we always have! ▸ Use the 5 WHYS ▸What has changed since we implemented this…. . ▸Why do we still do it this way?
CONSIDER ALL THE USERS, FUTURE IMPROVEMENTS & COSTS CHINA HAVE A 1000 YEAR PLAN ▸ What happens in the Long Term ▸More people ▸More technology ▸Different laws ▸Public opinion may change ▸Higher costs
CHAOS, CONFUSION AND OPTIONS FINALLY ▸ Multiplicity idea analysis. ▸ Holding many ideas, solutions at the same time, figuring out the best option despite conflicting tensions.
30 DAYS TO CHANGE A HABITUAL THINKING • The best leaders are usually the best thinkers. • It doesn’t happen overnight, they learn their habits and cultivate their success. • Entrepreneurs are also Leaders who have the ability to think about motivating people to change
SOLVING PAINFUL ISSUES PAIN V PROFIT & MOTIVATIONS ▸ What pain do your customers experience ▸ How does your product remove the customer pain ▸ Who are the team responsible for delivering solutions ▸ How much does it cost to solve the pain ▸ How many ? ? ? will the customers buy to remove their pain ▸ What do we need to do to make this much better ▸ How can we achieve exponential growth
LEADER THINKING SUMMARY ▸ Leaders think in a way that achieves results ▸ Leaders ask questions that identify pain ▸ Solve problems through motivation ▸ Achieve results through motivated people ▸ It’s a process, we can learn to do this ▸ Leverage the Leader process through practice ▸ Improve skills and routines until it becomes habitual
MOTIVATION: HOW DO WE DELIVER VALUE? EXERCISE: MOTION & ACTION ▸ What motivates you to achieve results? ▸ Is it money or what money buys? ▸ How do you motivate yourself? ▸ How do you motivate others? ▸ Consider these points as a group
WWW. ENTREPRENEUR-THINKING. COM FURTHER SUPPORT