Wednesday, May 1, 2024

Mastery of craft, technique or business is not entrepreneurship

Every generation needs a revolution - an entrepreneurial revolution

Many mistake mastering a craft or even taking MBA as road to success as an entrepreneur.
Michael Gerber made this clear that mastery of technique (being a technician) or being a business manager  do not make a business man/entrepreneur.  (Mastery of business and enterprise)

The first component is mastery of self.  It is about your courage, tenacity, determination, enthusiasm, leadership and discipline.  Without these.  you can not make it  Also about your goal.

If it is goal is merely to make money and to enjoy its perks;   cars, luxury, entertainment, pleasure, then you can not be an entrepreneur.  

It is about believing in creating something good for humanity.  It is about fulfuling your role in the Lords prayer ie the to be vessel of the peoples daily break. Or spiritually to fulfill our mandate in Genesis:  1:28.  to gain dominion over the earth.  

A big time Chinese businessman (now deceased) told me about that.  While essentially a Buddhist, we immersed himself in local religion and helped generously and a mover in the Chinese chamber

Collab - the new networking; the new deal is deal making

Every generation needs a revolution - an entrepreneurial revolution

Still on Boss

Much of the deal has been on deal making.   The deal could be made or broken based on the character of the deal maker.  The deal maker could have hurt the protagonist before or done him a favor before.  It is a no go if the deal protagonist was pained;  it is a  no go, it is go if  it was gain

Thus we have backdoor negotiation, enlist help of patrons, friends.  Or an authority

Or exert legal or administrative pressure so that the other party caves in.   
 Or wine dine the person.  Entertain   Or give him/her a haircut and even marrying the other party 

Thus avoid hurting  people you meet, publish ridicule.  Be on good terms with all people.  Dish out favors

Innovation drives growth - innovate or die

Every generation needs a revolution - an entrepreneurial revolution

In Billions, traders are encouraged to constantly think of 3 innovations in their job.  Requiring from those who buy and sell securities.   And to be constantly to search for opportunities and how to seize them. ie to act as entrepreneurs and to see their jobs as owners of business.

But we are secure with tried and true.  It is better to be on autopilot   It takes a lot of effort to think of and start a new one and face obstacles like inertia from stakeholders, risks, possible loss.

But that is the way to go.   Innovate or die