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Success as an Entrepreneur Stems from 4 P’s

Four Ps for BIGG SuccessHow do you reach BIGG success as an entrepreneur? Remember the 4 P’s:

People

Put people first. This starts with you. Your business should serve you, not the other way around.

It continues with your employees. You may not have any at first, but as your business grows, the need will likely arise. Don’t neglect these people. Happy employees lead to healthy profits – another one of the p’s as you’ll soon see.

But neither you nor your employees will have any job security if you don’t please your customers. Attracting and, more importantly, retaining customers should be job #1 for everyone in your business.

Purpose

Your purpose lies where your passions and strengths intersect with a market need. You and your people are able to solve a problem for another group of people.

Your purpose defines your firm’s reason for being – your why. It should be easy to say and even easier to remember.

More importantly, your stated purpose explains the difference you make in the world. It should inspire you and your people to perform at your highest capacity.

Process

Stated simply, a process is a set of procedures. A set of processes forms a system – more specifically, your operating system.

Purpose helps define the what while process describes the how. Purpose helps you determine the right things day to day. Process helps you do them the right way.

Together, purpose and process help you do the right things the right way. You need them both to be a BIGG success.

Profit

Finally, we come to the final P – profit. Contrary to many people’s misperceptions, profit is not a dirty word. Without profit:

  • you won’t be able to replace equipment as it wears out
  • you can’t repay your bank debt
  • you won’t have any money to invest in growth
  • you won’t be able to justify pay raises
  • you won’t have the funds to hire more help
  • you would be better off investing your time and money elsewhere

Even non-profit entrepreneurs have to earn a profit if they want to serve more people. It may come in a different form than a for-profit entrepreneur but – make no mistake – it is essential for all enterprises.

There you go – 4 P’s that lead to BIGG success!

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I Just Got Laid Off – Part 3

work We’re wrapping up a 3-part series on what to do if you just got laid off. In Part 1, we discussed the day you learn about your layoff. Part 2 was about the first couple of days after the announcement. Now we want to talk about moving on to your next job.

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We’re moving ahead quickly, but don’t be alarmed if you’re not quite ready to move on just yet. You’re going through a grieving process so it will take some time. Be aware of it, but also look forward to that time in the near future when you start feeling your zest return. If it doesn’t return relatively quickly, you may consider speaking with a professional.

During this time, it’s important to maintain a proper attitude. One of the best ways to do this is by associating with positive people. It’s also helpful to talk with people who have gone through this before. Ask for their advice. Almost everyone really likes to help other people. They can encourage you with their story.

Next, assess your financial situation. Ask yourself how aggressive you need to be in your job search. Map out a timeline. Think about phases.

For example, in Phase 1, you may be able to be very choosy in your job search. Phase 2 may mean you need to find a job soon so you’ll be less selective. In Phase 3, you may freelance or work part-time to get some money in the door. You may find a job in the first phase, but you’ll be prepared in case you don’t. 

Also plan how you will market yourself. Think about what makes you unique? How can you communicate that? What opportunities play to your core strengths?

Obviously, you’ll also need to update your resume if you haven’t already. We found a great site for help with resumes, cover letters, job search and interviewing tips. Check out Resume Help.

Begin to think about how you will explain your recent departure. Practice interviewing with a friend, preferably someone who is a manager who interviews people. Get feedback.

One of the most important things to get on your to-do list is networking. It’s amazing how many people land a new job through a referral. Resist the urge to go into self-imposed isolation. Reach out to everyone you know who might be able to help you. Tell them what you’re looking for.

Have you registered on Meetup to find out about local events of interest to you? Are you on LinkedIn? What about Facebook? Have you joined any social networking groups for your industry? The contacts you make through these sites will be invaluable now.

The good news is that most people who go through this report that they are happier in their new job than they were in their old job. It may take some time, but you’ll land on your feet!

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Thank you so much for stopping by today. Join us next time when we discuss scheduling time to decompress. Until then, here’s to your bigg success!

 

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00334-021909.mp3

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Make 55 Percent More Money – Part 2

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We are continuing our discussion on how to make 55-percent more money.

Last time, we discussed using the way a venture capitalist invests as a model for how we invest our time. We talked about a 4-step process to create a portfolio of activities that generates the greatest return.

The example

Now we want to look at an example. Let’s say that you make $100,000 a year. You invest 2,500 hours a year – 50 hours a week for 50 weeks – to earn that money. We immediately see that you’re making $40 an hour.

Read more

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Knowledge is Worthless

By Bigg Success Staff
08-25-08

Life Changes

knowledge 

We found a great post over at Achievement Radio by Dr. Zonnya. She says that knowledge isn’t power anymore. Instead, it is knowledge applied that makes the difference.

It’s a distinction we all instinctively understand, but sometimes forget. Learning how to do something is only part of the process. We have to continue on and put into practice what we’ve learned or the knowledge is worthless.

If you can take away just one idea from every encounter – be that a speech, a conference, a web site, a conversation – and then actually use it, you’ll be ahead of the game.

So don’t worry about learning everything. Focus on applying one thing you’ve learned!

Hear today’s lesson and laugh on The Bigg Success Show

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4 Steps to Achieve Your Goals More Easily

By Bigg Success Staff
07-16-08

Career Builders

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Sometimes a long-term goal can seem elusive. You know it’s important to you, but you can’t get too excited about it because it seems so bigg and distant. Obviously, the solution to this problem is to break it down to daily activities. But with really bigg goals, that can seem difficult, so we often just don’t do it.

Sometimes thinking more short-term helps you get the focus you need for the long-term. It helps you unclutter your mind so you move even faster to the life of which you dream.

So here’s a remedy – with the picture of your ultimate destination clearly in your mind, ask yourself these four steps:

Step 1: What do I want to accomplish in the next 90 days?
By zeroing in on the next quarter, you relieve yourself of the vagueness and the distance of the long-term goal. You focus on what has to happen in the near-term. This often gets your juices flowing and ramps up your progress toward your ultimate goal.

Step 2: Where do I want to be at the end of the first month?
Now that you have your 90-day goal clearly set, determine what you can (and will) get done in the first 30 days. Obviously, you would like to knock off about one-third of your long-term goal. You may even consider front-loading it a little so you give yourself a little break (i.e. reward) toward the end of the 90 days.

Step 3: What needs to be done this week?

With that done, you’re ready to break it down further. Look at what you want to accomplish this month and break it down by the week. Once again, consider front loading your scheduled activities a little bit and giving yourself a little break toward the end of the week.

Step 4: What’s important today?

Finally, break it down by day. With your weekly plan in front of you, set goals for each day of the week. Give yourself a little breathing room for those unexpected situations that demand your time.

Of course, at the beginning or ending of each day, you’ll want to review what needs to be accomplished for the week and plan out your day. Ditto for each week and month. Then just repeat this process every 90 days until you’re sitting on that beach in the Caribbean!

1100 Hear today’s lesson and laugh on The Bigg Success Show. ]

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