Monthly Archives: October 2010

Entrepreneurs Need Passion Not Romance

passionBIGG success is life on your own terms. It’s about entrepreneuring your life which, for a lot of people, means being an entrepreneur in the traditional sense of the word.

Yes, a lot of people dream of owning their own business. So we found a recent survey about small business owners and retirement interesting. The survey was conducted by Gallup and funded by Wells Fargo.

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icon for podpress  Hear George & Mary-Lynn discuss the poll results on The BIGG Success Show! Click the player to listen [4:43m]: Play Now | Play in Popup | Download

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The BIGG Success Show Podcast Summary

If money were no object
We found what appears to be a contradiction the most interesting part. Small business owners were asked what they would do today if money were no object.

51% said they would keep working in the business own now, at least part-time. Another 18% said they would start another business. So 69% of the small business owners surveyed would keep entrepreneuring!

How do you define retirement?
So that sounds great, but here’s the contradiction: “Nearly two-thirds of small business owners define retirement as a time when they can work at something they enjoy and do so on their own terms.”

Especially right now, there’s an unusual amount of stress piled on top of the unusual amount of stress that many entrepreneurs often feel, especially in the early phases of their business.

You have to be careful not to romanticize owning a business. It’s fun to get a business started. However, that’s as far as a lot of people think – picking a name, designing a logo and those sorts of things are a very small part of the whole process.

It’s hard work to start a business, doing as much as possible with as few resources as possible. It can really wear on you after awhile.

Closely related, once you start, the demands of the job means you may have to do things you never imagined. If you start a restaurant, you have to be prepared to be the chief cook and bottle washer. If you’re not, you won’t make it.

Entrepreneurs do what needs to be done. That’s one of the differences in mentality between an entrepreneurial manager and a corporate manager.

And you may not really enjoy some of the things you have to do. That’s why it’s so important to be passionate about the business you select without romanticizing the actual work that goes into it.

Because the romance novel can quickly turn into a horror flick! 

Direct link to The Bigg Success Show audio file | podcast:
http://traffic.libsyn.com/biggsuccess/00639-101910.mp3

(Image in today's post by stock.xchng)

Entrepreneuring Like a Chilean Miner

Mision Cumplida ChileLike most of the developed world, we watched the rescue of the miners of Chile with amazement. It shows that the impossible can be made possible when good people work together.

These Chilean miners are a great example for us as entrepreneurs. So, on the show today, we talked about entrepreneuring like a Chilean miner:

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icon for podpress  Hear George & Mary-Lynn talk about entreprenuring & the Chilean miners on The Bigg Success Show! Click the player to listen [5:59m]: Play Now | Play in Popup | Download

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The BIGG Success Show Podcast Summary

Keep your thoughts to yourself
The foreman said that he thought the situation was dire as soon as the dust cleared, but he didn’t let on. Entrepreneurs bear burdens they don’t let others see. Authenticity is important but reaching your goal is even more important. Sometimes you can’t let your people know what you really think.

Leadership is action, not position
We’re talking about miners here – perhaps the bluest of blue collar workers. The foreman got every single one of them to step up.

As an entrepreneur, you have to get each member of your team to own his or her role. And here’s the thing – if you’re going to get out of the pit, if you’re going to survive – you and your people will have to stretch like you never imagined.

A great example of that is the miner who had advanced medical training. He became the group’s official doctor. He had dreamed of studying medicine. He ended up practicing it with help from the professionals on the ground.

Share your vision
The foremen got his men united around a single purpose – to survive. To do that, he told his men that they needed to do two things: focus and balance. To entrepreneur like a Chilean miner, share your vision with your people. And repeat it and reinforce it over and over again.

The miners established a routine. This was part of the foreman’s plan to keep them focused.

Don’t worry, do something
Here’s the lesson: Do something so you don’t worry. There are only two alternatives: Complain about your conditions or do nothing. Both of them just add to the stress.

Take control even when you feel like things are out of control!

Lead by example so your people do the same. Otherwise, you’ll never get to firm ground.

Abnormal times call for normal activities
Once the basics were taken care of, the miners enjoyed themselves a little. They worked on hobbies and even watched a soccer game.

No matter how abnormal the situation you and your company face, strive to maintain some normalcy. And get away from it all now and then. It’s the only way to keep your strength … and your sanity!

Help from above
The miners knew they had to count on the people up top to help them get out of the hole they were in. Entrepreneurs should never be shy about asking for help.

In addition, many of them said God was with them through the whole ordeal. We’re not trying to convert you to anything here, but we think a belief – in yourself and in a Higher Power – is one of the greatest assets you can have.

You need faith that things will turn out like they’re supposed to. You have to keep believing that you will reach BIGG success.

Direct link to The Bigg Success Show audio file | podcast:
http://traffic.libsyn.com/biggsuccess/00638-101510.mp3

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