One framework…two perspectives. Learn how to tell a great story and you’ll learn how to build a strong business plan framework. If you’re on a journey to build an Entrepreneurial mynddset, you’ll appreciate having a tool for your tool belt, especially one that does double duty. There is an art to storytelling. And, there’s a technique. Today, let’s consider the technique (the framework).
Jack and Jill went up the hill, to fetch a pail of water. So…what was the problem? What were they trying to solve?
Problem = They had no water.
The simplest of stories follow the 5P framework. They lay out what someone or some group’s Problem is or was. They describe the Promise in the”how this will be resolved” part of the story. At some point, the details, the HOW, or Picture of the solution is laid out clearly. How do we know the solution will work? Some evidence is provided, even in times of doubt or if a new solution is being attempted, some level of Proof it will work is presented. Finally, the process for how others can join in on the action is shared during via the Pitch.
Now, let’s look at what a good business plan needs. Hummm…..let me think. Give me a minute. So…, we need…wait! A great business plan needs those some structural components. Interesting. A good story framework is a good business framework.
It’s a myth to think businesses need a super complicated framework to be great businesses. If you’re struggling to define your business plan, think about the 5Ps. While you build the business framework, you also craft the business story.
Being a leader can be lonely. Whether you’re a “C” level administrator, Division Leader, General Manager or a Solo-preneur, you’re expected to be a thinker. Your day-to-day work places you in situations where solutions aren’t “in the manual.” No, you must generate ideas and solve complex issues from original thought. How do you do that? If you’ve been struggling to describe how you think and you can’t seem to find a method that works, you are NOT alone. In fact, being alone is a problem you need to fix, TODAY!
If you’re feeling alone in your thinking, it’s time to gather your team and get thinking. If you oversee staff, pull your team together from within your organization. If you’re a Solo-preneur, seek out your trusted friends and advisors. BUT, before you step into that thinking session, you need a plan. Your team is counting on you for several things:
They need you to have a clear understanding of the problem you are asking them to help you solve.
They need to know you are not going to waste their time.
They need to know HOW you plan to organize the group’s input.
They need to feel secure sharing ideas.
They need to know you will leave the session with an action plan and that the ideas will not disappear.
They need to feel engaged in the entire process.
If you’ve read this far, you most likely don’t have an answer to the question, “How do you think?” and could use some help prepping for your next team think session.
The THINK’ID8 CO.LAB is designed to teach you the essentials of thinking and provide a structure for think sessions known as Design Thinking. You may have heard about Design Thinking. The process has been around for over 30+ years and has helped many great organizations achieve their goals. After completing this full-day training, you’ll feel more confident in your abilities to lead a team in the efforts to solve your complex organizational problems and build solutions to new opportunities.
Click over to the THINK’ID8 CO.LAB page to register. The full day session is $100.00 per person. There are currently two dates to pick from. Thanks in advance for registering. I look forward to working with you.
Raise your hand if you understand…no….BELIEVE….that for entrepreneurial success, you have to serve the customer first, the customer is always right…the customer is KING. Go ahead…raise your hand if that’s a truth for you.
There…you’ve had a chance to admit that you believe something. You’ve faced an audience of millions and exuberantly raised your hand to show your understanding and your frame of mind. You’ve committed to being like-minded with so many of your peers.
At this point, you may be thinking you’ve mastered the Entrepreneurial Mindset. Let’s explore that mindset. Yesterday, I watched a Livestream recording of a 1 Million Cups event in Kansas. The presentation was provided by the leader of a new, but very successful fitness equipment organization. At one point, he was asked about the build quality and reliability of a new piece of equipment the company had launched. The presenter said, “It’s not a huge problem because the majority of the buyers will rarely use the device.” The point he was making was that only a small percentage of the buyers will use the device hard enough to expose the weak points. So, their support channels are ready to support that small percentage. BUT…is that the right take-a-way?
So, tons of customers bought a product thinking they knew what they wanted. In reality, few of them will actually use the device. So…was the customer RIGHT? Did they ask for the right device. Did they say “if you could just build a device that did X, you could sell millions.” Of course they did. And, they were 100% WRONG!
This is why I teach the distinction between inventing things to please an audience and being a true entrepreneur. I want to go to bed at night knowing that I’ve helped people change their lives. And, I believe my fellow entrepreneurs think the same. That is the Entrepreneurial Mindset.
Don’t think I see customers as always on the outside. Successful businesses need customers. We all benefit when we gather ideas from our customers, when we LISTEN deeply to our customers. But when we parrot back what they are telling us under the guise of a solution, we are doing little to build a truly innovative, high impact offering. One of the toughest jobs I experience as a coach and advisor is helping others think through informing their customers of what they DON’T know.
An Entrepreneurial Mindset freely informs customers of possibilities they have never explored. It fills the gaps for customers, teaches them, guides them toward solutions that will benefit them to a greater degree than what they have been asking for.
If you consider yourself an entrepreneur, think back to your most recent presentation or conversation with a potential client. Did your words leave them wanting to know more? Did they ask you questions, or did they just stare at you? Was your interaction and invitation to talk again, or a closing statement? If you did little more than simply reply to their needs and their “demands” then, most likely, you’ve taken their view and did little to provide a REAL solution.
As entrepreneurs, building on our abilities to listen to customers but create true change means we’re committed to an entrepreneurial Mindset. Please let me know how you keep your Entrepreneurial Mindset alive.
This morning, I visited my Twitterverse and one of my trusted sources and fellow follower Mr. Michael Crawford (Real World Scholars) had posted this article “The Importance of Entrepreneurship in School Curriculum.” I thought the article was a great conversation starter around the reasons all schools, no matter what format or focus, need to have their ears to the tracks and be responsive to entrepreneurial youth skill-set, mind-set development. This is my follow-up to my post and I hope it sparks conversation and more importantly ACTION.
I hate to talk about entrepreneurial benefits in any way that makes entrepreneurial work within education seem like an add-on. Why? Because add-ons are optional, our system is overburdened with them, and the add-on approach to school development is akin to a ship collecting barnacles or our refrigerators collecting magnets and family pictures. Eventually, add-ons weigh down the host. When I consider the scope of our US-based K12 education system, it seems we’ve done little more than continue to treat education as a place to add on an endless set of options this or that group feels is important. Folks, our schools are full. The model of continuing with add-ons has to stop and I don’t want to send any message that states I feel entrepreneurism should be another add-on. So, with that context, I’ll send my message. Entrepreneurism should be core! Not an add-on. Why?
We’ve all experienced the realities of youth egocentric behavior. There is a prevailing mental model of youth that the ego needed for growth doesn’t turn off and leads to ego-centric teens and ego-centric adults. There are tenants of entrepreneurism requiring confidence, self-reliance, sure-footedness, and laser-focus. From the outside, those may seem like ego. But there’s a distinction. Entrepreneurism brings about solutions for others, solves problems others can not, seeks answers to other’s troubles, worries and progress inhibitors. In my experience, employees are more often than not rich with ego. It often comes from over confidence in their security and roles within organizations driven by weak vision exchanged for high dollars. Entrepreneurs however must deal every minute with how they are helping others. If they don’t, they won’t survive. Granted, there are plenty of ego driven entrepreneurs just as their are employees who care passionately about those they work to serve. Remember, I’m presenting a perspective in a way to get us thinking…to spark thoughts we often have to deal with emotions. Oh yeah, our egos! In my entrepreneurial ecosystem, what I see are entrepreneurs who have pushed aside destructive ego and moved to action. I think that’s a lesson all youth need as CORE.
There’s no reason for a lot of what we teach without a connection to products and services.
I feel like we know this, but we don’t seem to want to embrace it. We like to say “we’re preparing kids for the future.” Ahh, what does that mean? Job? Work? Life? Sure, all of that. And for each, what is central? Seeing problems and opportunities. Yes. Solving problems, designing solutions, products and services. Yes. This is why I see entrepreneurism as a core way of being rather than a business management topic or activity to be assigned.
Who’s Responsible? Ecosystems Are.
After talking with schools over the last six years, I’ve learned that K12 schools should not be asked, nor are they in the position to take youth entrepreneurism on alone. As I stated above, they are bombarded with add-ons every day. New state or national regs and local groups attempting to get schools to single-handedly be the care-takers of growing entrepreneurial youth aren’t the answer. Enter Ecosystems. Ecosystems are mechanisms that unite local, regional and even national resources (such as Real World Scholars) in the efforts to build core entrepreneurial competencies. Locally, I’m partnered on VISIONEURS-PA, our efforts to build a specific youth entrepreneurial ecosystem. Ecosystems exist for adults, but few for youth. Why? It goes back to the school is everything mentality. Schools are expected to provide ALL education. The more we count on that, the less likely we’ll build an entrepreneurial nation.
Ecosystems can be responsible for youth entrepreneurial development because the end result is truly focused on solving big problems and making life better. They are made up of groups, companies, service agencies, individuals, investors and charity organizations that believe in the power of entrepreneurial spirit. Yes, we need students with essential literacy, behavioral, scientific and creative skills. We need schools to do that good work. As we think about applying those skills, the more we can make entrepreneurial core, those lessons gain more meaning. The ecosystem can then be there to support the work that we can’t add-on to schools. While some schools have cleared away enough clutter and created entrepreneurial cultures within, many can not and will not. In those cases, the ecosystem can offer out of school supports at the community level. When I think about those services, I think of prototyping, product testing, commercialization, business structure development, and a host of other real-life business supports. Ecosystems add capacity to our schools. That’s the key. As we expect more from educational entities, we must be willing to help build those capacities.
Love to hear your thoughts. I know this is somewhat polarizing. And in no way is anything here meant as a dig to schools. We’re in this together and we have to realize capacity building is needed.
Highly successful people have a clear compass that guides them forward. That compass is not only clear to them, but clear to others. It is visible, tangible, in sight at all times. Their beliefs and what they do each day, each minute, is manifest in a way that showcases the path you’ll take when working with them. They decisively guide themselves and those they work with using that compass on personal and organizational journeys. The compass eliminates distracting side trips yet allows for exploration and learning. That compass is their Manifesto.
Developing a written, personal manifesto is a fantastic way to sort through your personal beliefs and make choices about what really means the most to you in your work and personal life. A manifesto has a few key components.
An example of one of my beliefs is:
“Build beautiful things.”
I confess, this belief statement solidified for me after spending time reading and listening to Mr. Todd Henry, author of the Accidental Creative. By the way, he has a great post on the value of building a manifesto. And, it’s okay to borrow from others. In fact, we should.
Years before finding Todd Henry, I committed to building every product I could in a beautifulway. Now, before you start thinking that is some lofty belief there Mark. Well, look beyond the simple definition of “beautiful.”
“Build beautiful things” is my commitment to building products that are complete, finished. Whether I am building a training, or a PowerPoint, or a spreadsheet for a client, my commitment to that work is to build it COMPLETELY.
“Build beautiful things” is my commitment to building products that meet a need. That means I need to clearly understand the need and the expected end result. If I’m working for a client, I want to know that what I produce will help them, serve a purpose and benefit their organization. If what I build becomes a file in storage or a product on a shelf, we have more work to do.
“Build beautiful things” is my commitment to building things with design and human interaction in mind. Functionality is an aspect of beauty that pushes me to create items that people like to interact with.
As you can see, a belief means a lot. The commitments and the principles develop naturally from the belief statements as you further share each belief. Let’s deconstruct one of my statements above.
“Build beautiful things” (Belief) is my commitment to building products that meet a need. (Commitment)
That means I need to clearly understand the need and the expected end result.
If I’m working for a client, I want to know that what I produce will help them, serve a purpose and benefit their organization.
If what I build becomes a file in storage or a product on a shelf, we have more work to do.
Over the last few months, I’ve had a deeper desire to firm up MYMANIFESTO. This will be my personal / professional manifesto guiding my work as I continue my journey. I encourage everyone to think about the value of building your own manifesto, your own compass. If you do, please share.