Entrepreneurship 101: Entrepreneurship & Innovation Workshop
Darling, In a bid to grow and stabilize my business, I am on the look out for networking opportunities & platforms where I can learn something new. On Tuesday I went to a Rotaract meeting, after 3 years of absenteeism, & it didn't click. On Wednesday, yesterday, I attended an Entrepreneurship Workshop by Ben Kiruthi & it's exactly what I needed.
Here are my notes :
FOUNDATION
-Does this business /idea meet a need? (1st question to ask yourself)
-All great fortunes in the world are made by those who what they give is greater than what they are getting
-Does this business /idea meet a need? (1st question to ask yourself)
-All great fortunes in the world are made by those who what they give is greater than what they are getting
HOW TO START A BUSINESS
1. Passion × what you do effortlessly
× exposure to different things to discover what you are drawn to
×ask people you know what you're good at
×write a list of all the things you like doing
-Among my passions, which would someone pay me to do? Does my passion solve a problem?
× Do market research / market study constantly
2. Look for a problem then solve it
1. Passion × what you do effortlessly
× exposure to different things to discover what you are drawn to
×ask people you know what you're good at
×write a list of all the things you like doing
-Among my passions, which would someone pay me to do? Does my passion solve a problem?
× Do market research / market study constantly
2. Look for a problem then solve it
LAWS OF SUCCESS
- The secret of success lies in giving .
1. Law of value - your true worth is determined by how much more you give in value than you take in payment.
×Money follows value / quality.
×Give people so much value so that they think you are undercharging them.
×Over-deliver & undervalue yourself as it pulls more customers. They will always come back.
2. The law of compensation - your income is determined by how many people you serve & how well you serve them.
× Make sure the business is scalable i.e. it can grow.
×Stop looking for a niche business & look for a business that serves as many people as possible .
×Get a wide market that pay you little than a small number of customers who pay you a lot.
3. The law of influence - your influence is determined by how abundantly you place others people's interests first.
× Focus on meeting the needs of the customer & they will give me their money.
×Do not force what you think your customers need on them - constantly ask them what they need.
× Bill & Melinda Gates Foundation - what their TED Talk
×The more you give, the more space you create for God to fulfill you. The more you give the better you become.
×You can have everything you want in life if you help other people get what they want.
4. The law of authenticity - the most valuable gift I have to offer is yourself.
× People do business with the people they know, like & trust.
× The more people know you & see their vulnerability, the more attracted they are to you.
×My biggest asset is me. Before people buy from me, they buy me.
1. Law of value - your true worth is determined by how much more you give in value than you take in payment.
×Money follows value / quality.
×Give people so much value so that they think you are undercharging them.
×Over-deliver & undervalue yourself as it pulls more customers. They will always come back.
2. The law of compensation - your income is determined by how many people you serve & how well you serve them.
× Make sure the business is scalable i.e. it can grow.
×Stop looking for a niche business & look for a business that serves as many people as possible .
×Get a wide market that pay you little than a small number of customers who pay you a lot.
3. The law of influence - your influence is determined by how abundantly you place others people's interests first.
× Focus on meeting the needs of the customer & they will give me their money.
×Do not force what you think your customers need on them - constantly ask them what they need.
× Bill & Melinda Gates Foundation - what their TED Talk
×The more you give, the more space you create for God to fulfill you. The more you give the better you become.
×You can have everything you want in life if you help other people get what they want.
4. The law of authenticity - the most valuable gift I have to offer is yourself.
× People do business with the people they know, like & trust.
× The more people know you & see their vulnerability, the more attracted they are to you.
×My biggest asset is me. Before people buy from me, they buy me.
5. The law of receptivity - the key to effective giving is to stay open to receiving.
×When you give, God has your debt because giving is lending to God.
×Receive from people because it's facilitating a blessing for them.
× Read up on Mully's Children Family
- Always look for opportunities to give /help.
- Give even when people take advantage of you.
- Read The Go-Giver to cultivate a giving culture
WHY
-Why do you want do business ?
-The 'why' is the foundation
-You sell yourself with the 'why' / goals then the 'how' & finally the 'what'
-Why do you want do business ?
-The 'why' is the foundation
-You sell yourself with the 'why' / goals then the 'how' & finally the 'what'
