Becoming an entrepreneur 101 - Ep1image/svg+xml

2 months ago

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Diving into the business world is usually not an easy step as you would have to cross many hurdles which you won't naturally find easy. Most people often give up before the business even got started.

If you have the courage to begin, then you have same to succeed

In business, predicting the future can be notoriously unreliable, simply because we live in a VUCA world.


What is VUCA?


  • V - Volatile

  • U - Uncertain

  • C - Complex

  • A - Ambiguous


In the business world, one thing to note is that you must keep evolving or you will eventually get sidetracked. Let's take a look at Nokia for example, once they stopped pushing out new updates and producing new fancy techs, they started to lose market to the likes of Samsung and others.


If the rate of change outside exceeds the rate of change inside, the end is in sight

Meaning you must keep evolving in your mind or in your business or you will eventually fall out. You just can't keep up.

You keep doing things the same way it's been done for generations and expect a better outcome?


To respond with yesterday's option is not the solution. What is the solution?

Become VUCA Prime

What does it mean to be VUCA prime? Let's take a look below

  • V - Vision (intent to create a future)

  • U - Understanding (look, listen, engage, ask questions, have a flexible perspective)

  • C - Clarity (have a defined goal, know what you want, and how to achieve it)

  • A - Agility (speed, apply creativity, think outside the box)


Important Points

  • Learn the art of asking yourself questions (e.g what works?)

  • Your point of view is not the only one that exists

  • Empower (value network over hierarchy

  • You need a power tribe


Enemies

  • Resistance

  • Rational thought

  • Place of comfort

  • Failure or success, yes success can also be an enemy because then you feel too relaxed.

JUST DO IT

In conclusion for this episode,

  • Networks are very important/collaboration network is also about sharing (it goes both ways)

  • You must be trustworthy

  • know the money market (arts, entertainment, sports, education, communication and others)

IF YOU DON'T INNOVATE, YOU DIE.

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