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Created with Fabric.js 1.4.5 Being an expert in a field doesnt mean you can run a successful business in that field Insights into entrepreneurship and building a successful business Loss of territories - productive land,industries and raw resources Reframing problems and situations LESSONS FROMeMYTHand InGENIUS Pay attention to what is around you Act like a franchise! Use systems Rules of Brainstorming This lesson can be applied to a business by making sure that thereis diversity in the founding members of the business. This lesson mattersto an entrepreneur because it gives them the best chance at success,and provides them with a structure that will allow them to love what theydo because it fits their work type. Before reading: New business owner needs an experts knowledge of the craft. After reading: Knowledge is important, but it only covers one third of what ittakes to start a successful business. Technician Entrepreneur Manager Before reading: Businesses reached success by being the first one tofigure out the right answer.After reading: Reframing the problem allowed for there to be multipleanswers. By asking more open ended questions businesses avoid gettingstuck in one mind set, and can approach problems in new ways.This lesson matters to an entrepreneur because it opens a world ofpossibilities to each problem that he or she sees. This allows formore ideas for each problem, which means more opportunities. This lesson can be applied to a business by making sure that the businesshas a holistic view of how it operates within the market it is in. This is important to an entrepreneur because it creates an environmentfor innovation. By paying attention to what is happening around then, anentrepreneur can find new opportunities to innovate, as well as ways toimprove innovations that he or she has already started. Before reading: I believed that the most important thing for a businessto focus on was the problem that it was trying to solve. After reading: It is very important to be aware of your surroundings.The environment around you provides you with information about theproblem you want to solve, your customers, and opportunities to succeed. Before reading: I always thought that a business would only act like afranchise if it wanted to expand into one. After reading: Systems developed by thinking like a franchisehave many benefits besides the possibility of growth in the future.They allow for consistent service by all members of the staff. It allowsfor anyone to help create the product, not just an expert technician. This can be applied to a business by creating a uniform way of doingeverything that does not take expert knowledge. Most businessescan do this by writing an employee handbook. This lesson mattersto an entrepreneur because it allows them to build a company thatcan grow and continue to innovate. Before reading: I always thought that one should refine ideas in theirhead or before the brainstorming session in order to focus only onideas that have the best chance to catch on with the group.After reading: I have learned that the best ideas in a brainstormingsession are the ones that are completely illogical. There is no badidea in a brainstorming session, which is a new, and interesting idea. This lesson can be applied to business by making sure that all ideas are heard and appreciated in meetings, as well as in decision-making. This lesson is extremely important in entrepreneurs because it is how they are able to have such amazing and innovative ideas. Entrepreneurs need to be free to think outside the box. By: John Bitetto
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