Son of Five Rivers Blog

For the advancement of Entrepreneurship, Sustainability & the Ecology of Everyday Life

Advice to Eentrepreneurs (38years, 100+ Franchises)

Here’s a quick read you all might enjoy, it is a presentation from George Moen, President, Blenz, The Canadian Coffee Company.  This presentation was done during small business month, presented during entrepreneurship showcase during at Small Business BC.

These are the lessons I’ve learned (so far) in my 38 years of entrepreneurship:

Pursue Your Passion

  • Work at something you’re passionate about.
  • Don’t do something just because you can.
  • There’s no point in doing something if you don’t love it.
  • Become an expert.Work to a Plan
  • Think big, but …
    – Develop a detailed plan and a budget.

     

  • Avoid overwhelming yourself.
    – Focus on 3 to 4 specific goals for a year.

     

  • Monitor your results quarterly.
  • Once one goal is complete, add the nextHave a Mission
  • You need to have a Mission Statement to be “On Mission”.
  • Act out your Mission Statement.
  • “On Time, On Budget, On Spec”
  • If you say you will, you’d better.Fail Forward
  • Do it rough until you do it well.
  • Don’t be afraid to fail.
  • Businesses fail … People don’t.Pursue a Debt-Free Life
  • Debt is an anchor.
  • Put away the chequebook.
  • If you knew how it felt to be debt-free, you’d work harder!Diversify
  • Develop multiple streams of income.Always Be A Student
  • Read.
  • Network.
  • Be a great listener.
  • Embrace Change.
    – The only constant is change.
    – Only pursue change if there’s a clear and obvious benefit.

     

  • Develop discipline.Network
  • Find genuine support.
    – No one can win alone.

     

  • Team with like-minded people
    …to amplify your efforts.

     

  • Surround yourself with a great virtual team.
    – Virtual Teams are the structure of the future.

     

  • Network without expectation
    – Your Network is your Net Worth.

     

  • Don’t grow a hero complex.Mentor
  • Give some of your time and effort to someone else.
  • You’re only as good as what you give.
  • This is something you can do just because you can.Protect Yourself and Your Family
    ………………’Nuff said.

    Never, Never, Never Quit

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    October 30, 2009 - Posted by | Business, Business Development, Entrepreneurship | , , , ,

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