Showing posts with label entrepreneurship. Show all posts
Showing posts with label entrepreneurship. Show all posts

Friday, September 12, 2008

Is it the Environment or the Actions which Make You Successful?


If you want something to be successful, do you create the environment or pull the trigger? If you are going to have a successful project, the correct environment needs to be created. Pulling the trigger is nice and that is what people will notice, but success depends upon preparation. That preparation is rarely noticed. The most aggressive actions in the wrong environment end up looking silly.

Think about it this way, do forest fires occur when someone carelessly throws away a match? Well maybe. If you throw away a lit match in a green forest with rain falling all around you, it's very unlikely a forest fire will result. If it is in the middle of a heat wave with the grass burnt brown and hot Santa Ana winds blowing at night, a roaring forest fire may result. What is critical is the environmental conditions in which the match was thrown.

It's the old line about the straw that broke the camels back. Straw is essentially weightless, but under the right conditions, it can wreck havoc. Maybe those conditions are an overloaded camel or some other environmental situation.

If you want tremendous results, look at the environment, the necessary preparation to succeed within that environment, get the preparations underway and then at the right time, pull the trigger.

Thursday, September 11, 2008

Have You Prepared Yourself for the Opportunity to be Lucky?

Someone once said that luck is the intersection between preparation and opportunity. If you prepare yourself and hit on the right opportunity, you have made yourself lucky. Congratulations, you are participating in a good life. You should be happy and your friends should be happy for you.

If you want to create something, doesn't it take more than luck? You need an idea for what you want to create. You need a plan and to know what the plan will require and whether it's feasible.

If you have a feasible plan, you need to find the missing pieces. When you find the people with the correct preparation to complete your plan; you need to articulate it in such a way that, it is in their best interest to make your plan succeed. They need to see your plan as their opportunity to make themselves lucky.

If the plan requires capital or assistance to be successful, then everyone needs to see how it benefits them to have your plan succeed. They all need to provide input to fill in the missing pieces so the plan has the best chance of success.

Finally, you must have enough time. It takes time to come up with an idea, make it feasible, find the right participants, get meaningful assistance, refine the plan and then execute it successfully. All of these things are important, but they all start with you. Have you prepared yourself for the opportunity to be lucky?

Photo Credit: Eric Lafforgue

Saturday, August 23, 2008

Aligning People or Letting them Align Part III

Bill Miller, confound him, asked an excellent question. Normally I avoid people asking excellent questions, but as he paid me the compliment of commenting on what I wrote, [Editor: and I made sound intelligent] I felt obligated to respond. And it is an excellent question.

What is the essence of self organization as opposed to their being organized?
The crucial question is responsibility. If a group organizes itself, the group is responsible for the outcome. If someone else organizes the group, the organizer is responsible the outcome.

If ten kids get together to play basketball, then they choose teams, call plays and evaluate the results. If a coach organizes a team, schedules the practices and calls the plays, then the coach is responsible.

Accepting Responsibility Versus Diffusing It
If three people get together and start a company to implement a new idea for running projects, they are responsible for developing the products, the methodologies and finding the customers. If their products and services work, customers continue working with them and the company grows. If their approach doesn't work, the company goes out of business. Those three people and the others who join them are responsible. (This is how CAP was born)

If a company decides that it wants to implement a new program, it picks three people and tells them to implement it. The first thing those people do (if their smart) is ask for more money, more people and more time. In this situation, it is in the three peoples' best interest to make the program as large, as expensive and as time consuming as possible. If they are smart, they diffuse responsibility, but accept credit.

What Advantage do Entrepreneurs Have?
An entrepreneur and the people starting a company take responsibility for making it succeed. People taking a job are responsible to do what someone else organized for them to do.

Are both important? Absolutely.
Which one is likely to effectively produce defined products and services?
Which one is likely to produce innovative products and services?
Which one are you looking for?

Sunday, August 10, 2008

Scope: Less is More

Craig Brown and Kevin and Julian are having an intelligent and thoughtful discussion on product vs project scope. Never one to keep an opinion to myself, I couldn't help but offer my own. I have an opinion on everything, which is not necessarily beneficial. An ex-girlfriend claimed she dumped me because I'd argue with her about whether dirt is brown... [Editor: There were other reasons she dumped you, we decided that one hurt your ego the least.]

Scope
Scope is one of the great issues with corporate projects and one of the advantages a start-up has. I don't think the problem is a product or project perspective, but rather a WIMBY perspective.

Many people are familiar with George Carlin's NIMBY (Not In My Back Yard), but fewer are familiar with WIMBY (Wanted In My Back Yard).

In corporations, often times projects get funded because different executives/managers can get things they want included in the scope. The project is sold by inclusion, be it to the product or project scope. In either case, because funding can be expanded to meet additional requirements, which need to be added to get buy-in from key executives/managers, the project or product get too big. They suffer from WIMBY

Start-up Advantage
An entrepreneur can only build what they can pay for. I didn't recognize this benefit until I realized one of the advantage a start-up has is limited resources. I can't get more funding without selling what I already have and then doing what the customer wants. Because I have to pay for additions out of sales, my own pocket or consulting arrangements, what we develop has to be simple and clearly present the value we are offering.

Less is more.
[Editor: Your ex doesn't think so...]

Photo credit: Mingfong