There isn’t an entrepreneur on the planet who wants to fail. I have yet to meet or work with a business owner who pursues failure. Every business owner wants to succeed. It’s part of our DNA as humans to push towards success in what we do.
I recently listened to an amazing TED talk by Ernesto Sirolli that I not only enjoyed, but said” Amen” out loud as I listened to it. Sirolli’s talk was about how to help entrepreneurs in developing countries by shutting up and listening. Ernesto is all about enterprise facilitation over enterprise direction. Which I agree with 100%.
Smushed within this amazing TED talk were three keys to success for every entrepreneur and I think you need to hear them. (or at least be reminded of them)
Here are Sirolli’s 3 “F”‘s that every entrepreneur needs to be a success:
1. Fantastic Product/Service
Sirolli didn’t say a mediocre or so-so product/service, he said Fantastic. You actually need a product/service that someone wants or needs and it needs to be great. There’s a lot of junk out in the market. But unless you are shopping at the dollar store, you want more than junk. People want you to give them something of value. If what we’re selling has no value, it has no future.
Is your product/service fantastic? If not, go back to the drawing board and make it fantastic. You can ditch your original idea and come up with something better. Your customers deserve it and your success depends upon it.
2. Fantastic Marketing
You can have the most fantabulous product in the world, but if no one knows about it, so what? Fantastic marketing takes a team, and most entrepreneurs don’t have a big team, so you’ll want to bring someone in on this. I like to use Smart Marketing, but I also know some amazing teams that can make any product/service stand out.
In today’s market, it’s even harder to stand apart from the crowd which is why its imperative that you get this right.
3. Fantastic Financial Management
Seriously, those were Sirolli’s words, not mine. If you can’t manage well the money you make from and spend on your product/service, then you’ll end up with a hobby instead of a business. It’s true that this is one of the top services I provide, so I a do have a dog in this race. Yet, I have also seen the difference in over 25 clients who manage their finances well vs. poorly.
I have one client that I have worked with in this capacity who said he wouldn’t be where he is without my help. Now that’s not me tooting my horn, but showing how important this “F” really is. Fantastic Financial Management is the difference between life and death or a business. If you don’t have it, get it.
Are you an entrepreneur? A seasoned business owner?
Do you have these 3 “F”‘s firmly in place?
Which one is your weak spot?
Do you need help with them?
Call me, we’ll chat.