20 years of practical Business Wisdom from the Trenches
from the Book “EntreLeadership” 2012 enhanced by Peter/CXO Wiz4biz
Author: Dave Ramsey has a self-titled TV show and has written a book about his guests. It’s another great book for small business owners. Each of the fifteen chapters gives an aspect of entrepreneurship & leadership that will benefit your business growth and direction. It’s a book that is full of great tips; I recommend that you take notes as you progress through the book.
What is EntreLeadership? It’s basically the necessity to use a mix of Entrepreneur & Leadership skills to succeed in business. Ramsey says that to even set up a business you need to step up as a Leader and make things happen. You’ll need to find others to help you and delegate the tasks necessary to get things moving. You need to lead. Ramsey states that we need leadership to be an Entrepreneur. It is fundamentally connected to being a successful entrepreneur. I tend to agree.
What’s the Layout of the book? The 15 chapters are very easy to read. He gives suggestions & motivation for the implementation of the tasks needed to reach those goals. Most chapter titles are quite self-explanatory while others are a quirky heading for a valid point:
1. Start with a Dream, End with a Goal. In a nutshell Ramsey makes it clear that having dreams is not going to take you along the road to success. The big difference between a dreamer and an entrepreneur is action !!! Goals need plans, strategies & implementation, otherwise they are just dreams.
2. Flavor your day with your favorite Sauce/Salsa, is all about the link between success & managing your time effectively.
3. “Spineless Leader” is an Oxy-moron. There is no question that you need courage to lead. You don’t need to be outwardly aggressive, but you do need to be able to communicate well & stand up for yourself, your team & your decisions. Making decisions on the spot is not always easy, but a leader needs to be able to assess the situation, look at all the information and make the tough calls. Leadership is not for the faint hearted.
4. No Magic, No Mystery. Ramsey looks at the life cycle of a product and how when to recognize when it’s in decline and start again. He also looks at marketing a product successfully using solid, basic ideas. This chapter discusses the fundamentals of marketing every business owner should be aware of.
5. Don’t Flop Whoppers. With small business, we tend to have an idea that we can product-ise. Ramsey talks about how this idea can grow to become a larger entity. He helps you to look for the passion and calling in what you are doing – the Vision & Mission of your business.
6. Business is Easy, until People get Involved. What is the life cycle of a product or employee. Most business owners that I have spoken to- including mentors – will tell you that the biggest challenge of running a business is dealing with employees.
7. Death of a Salesman. Add value – don’t sell. If people like you, and you build a relationship with them, they will be happy to buy from you and refer other customers to you.
8. Financial Peace for Business, gives very good basic financial advice regarding running a business. Ramsey is also the author of the best-selling book; ‘Financial Peace’ the advice is really solid.
9. The Map to the Party. Be clear in your strategic plans and communicate them well. Success is all about communicating with your team to get them fully engaged.
10. People matter Most. Many very successful people will tell you that the most valuable asset in your business is your people. Treat them right.
11. Caught in the Act. Your business can’t be recognized for the good things you do, if you don’t tell people about it. Even small opportunities can add to your overall PR & awareness.
12. Three Things Successful People Never Skip.
A. The Devil is in the detail. Ramsey advises to pay attention to the finer details when dealing with contracts, collections & vendors.
B. Show Me the Money! When people work hard and contribute to your organization – scoring a win in your business – thank them. A bit of gratitude & generosity will go a long way.
C. Delegate without Faith. An important skill of a good leader is to empower & grow other leaders, this begins with delegation. To delegate well you need to be able to trust your team. Develop a strong team who share the vision and purpose of your business, so you can trust them to work in your business while you continue working “on” your business – to make it better. A strong team is vital
Recommendation. EntreLeadership is an excellent book for Startups or small business owners. In my opinion, it should be recommended reading for anyone starting or growing a business.
Comments: Is there anything you could add to the use of Entrepreneur & Leadership skills to succeed in business?