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Entrepreneurship

Falling, Failing & Flailing Forward

July 28, 2021 //  by Sam Adams

We’ve all heard of falling forward when it comes to entrepreneurship, and innovation.

Recently Simon Sinek mentioned choosing different language -falling vs failing – because it matters to shifting our mindset. No matter how much we talk about not fearing failing, that concern remains, especially in larger organizations that continue to evolve what it means to them to innovate – to build centers of entrepreneurship within. They are still operating under cultures that don’t reward, or encourage failure!

When one falls, intentionally or otherwise, our reaction, especially as leaders, is to help them up and continue to encourage them. Makes sense, right?

Look, as innovators & entrepreneurs we have to expect that we’re going to fall. None of us are prescient or perfect – but, and we’ve said this repeatedly – mindset matters. So the simple change form failing to falling makes a lot of sense, removes fear and drives engagement and encouragement to take those risks.

Now – and we always coach this regardless of the size of the client we work with – it’s still about intentionally taking smart risks. So to this we’ll add – don’t FLAIL forward. Don’t just do & do & do to see what sticks, and then think it’ll just be a pivot.

You know what we call something that keeps pivoting – in place? A top. It wobbles to & fro and doesn’t really make much forward progress.

By all means, try, and try, and try – entrepreneurship for us is about intentionally taking risks until we achieve success. So now to this we’ll add – don’t fail, don’t flail, but fall forward.

You’ll be helped up, you’ll be encouraged, you’ll learn and you’ll always make forward progress.

Category: Entrepreneurship

Entrepreneurship in Trying Times

July 21, 2021 //  by Sam Adams

We’ve been reading several articles (and we’ll post one in the comments) about the economic recovery, entrepreneurship and employment and we’re seeing some alignment with anecdotal evidence both first hand and here on LinkedIn. One of the things we do at 1Focus as a way of giving back is give back to young entrepreneurs with prescriptive guidance and direction, especially when it comes to technology.

We’ve see a significant uptick in solo entrepreneurs, and at least 20% of them have proven to be nimble & adept at pivoting – a greater version of which we incorporate in our global client engagements.

This is where Diffusion of Innovation Theory comes into play (link in comments). With all size of our clients there is often a concern of competition. But this is good – you don’t always want to be first, it’s ok to launch with a small pack of competitors. That competition will drive differentiators and a higher level of service – both of which are opportunities to create distinct advantages.

If you feel the drive to start a business – do it – with intention! And remember, competition is good, for your business and for your consumer and it allows you to compete on more than just price!

We’re big believers in opportunity, so, we’ll give the first three folks who ask an hour of advice – gratis.

What are you waiting for?

Category: Entrepreneurship, Mindset, People

Innovation in Action!

July 2, 2021 //  by Sam Adams

We had a blast working on a model & survey for Entrepreneurial Markers for teen. It borrowed heavily from our research & modeling work over the last 3 years creating measures for entrepreneurial mindsets.

This is a clear example of finding applications beyond what we set out to do.

What started as an effort to distill the keystones of our success into a research study and apply some psychological science, academic models and experience to creating strengths & opportunities for new entrepreneurs became:

  • Not one but TWO editions of Coping with Crisis for Leaders & Contributors (https://lnkd.in/esaevkH)
  • A product for VC’s assessing potential entrepreneurs
    • We got clear confirmation, VC’s prefer to go with their gut!
  • A product for PE firms to use when assessing the management team of an acquisition
    • Thanks VC’s for the pivot!
  • A product to assess potential board members
  • A product to surface entrepreneurial mindset markers in teens!

When we got an invite to teach a class about entrepreneurship at the 2021 Foundation for Teaching Economics
Entrepreneurship in the Global Economy (EGE) Class to a group of high school teens, we were thrilled. It was a labor of joy to extend and distill our larger models into something approachable and consumable by this audience.

Thank you Don Fell & Lisa Chang for the invite, it was fantastic working with you and FTE in bringing new insights to all those young minds!

We’ve attached a couple of sample reports. If you or anyone you know is interested in these products, drop us a line or take a look at what we can do for your people.

Now that’s innovation in action!

Entrepreneurial Markers for Teens Sample Report

Entrepreneurial Markers for Teens Sample Report

Category: Entrepreneurship, PeopleTag: entrepreneurship, models, surveys

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