Rockstar Entrepreneur

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To succeed in business, you need the leadership principle of having clarity in where you’re going. You constantly go to and fro without a destination, always wondering if you’re headed in the right direction.

Find purpose & values

To get a proper vision, first understand your company’s purpose and values. This will be partof the framework that will guide your decisions. Your company must be passionate about the purpose and values.

Understand where you shine

Next, your company must understand where you can be the best in the world. Importantly, this must come from clear understanding of where you can be the best.

Find your Economic Engine

Next, as Jim Collins points out, you must have a simple economic engine model in the form of profit/x. What “x” makes the most sense to you? For example, if you’re a company like Apple that builds customer loyalty by developing lifestyle products, your economic engine would be profit/customer.

Know your goal

Importantly, you must also find what Collins calls a “BHAG” (i.e. a big, hairy, audacious goal). A BHAG must inspire your company to reach it, and like the above concepts, it must come from understanding instead of bravado. Good leadership principle starts with finding the intersection between all of these concepts in everything you do. This will be the framework for where all your decisions must be made.

Like anyone else, RockstarEntrepreneurs have limited resources starting out before hitting it big. Limitations however have never stopped them from turning their ideas into a viable businesses. They make do with the little resources that they have to create a great product or service. The key to marshaling limited resources is having an open mind, a clear vision, and workable plan. Being open minded will help you find creative ways to extend your resources without breaking the budget. A clear vision will direct you towards your objective. A workable plan will help you manage your resources efficiently. Do not focus on your limitations, focus on possibilities.

Entrepreneurs; like Visionaries, begin with a dream. They come up with revolutionary ideas or game changing concepts. But what separates the Entrepreneurs from the Visionaries is their ability to make things happen. RockstarEntrepreneurs can effectively marshal resources to a single end; the fulfillment of their dream. They see opportunities as a call to action. When opportunities emerge, RockstarEntrepreneurs can easily identify which opportunities stoke their passion and can quickly manage their meager resources to effectively seize it.