10 Insights for Building a Self-Sustaining Business, with Derek Lidow

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Information about 10 Insights for Building a Self-Sustaining Business, with Derek Lidow
Business & Mgmt

Published on March 4, 2014

Author: InspirationalMoments

Source: slideshare.net

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Tune in at 33voic.es/in1vj0j

Derek Lidow is a longtime global CEO, innovator and entrepreneur. Among other accomplishments, Lidow is widely-known as one of the world's top experts on the electronics industry; his contributions range from patents to value chain applications that have forever improved companies as diverse as Sony, Samsung, Philips, Goldman Sachs and IBM.

Today, Lidow teaches Entrepreneurial Leadership and Creativity, Innovation and Design at Princeton University. He keynotes on the subject of startup leadership. And he is a media commentator; Lidow's coverage to date includes The New York Times, Wall Street Journal, BusinessWeek, Forbes, Bloomberg, The Economist, Nikkei, Reuters, and Taipei Times as well as many top bloggers.

we help you discover smarter ways to think, grow, and live.

This presentation consists of 10 highlights from the interview with Moe Abdou, founder & host of 33voices®.

Derek Lidow Derek Lidow is a longtime global CEO, innovator and entrepreneur. Among other accomplishments, Lidow is widely-known as one of the world’s top experts on the electronics industry; his contributions range from patents to value chain applications that have forever improved companies as diverse as Sony, Samsung, Philips, Goldman Sachs and IBM. Today, Lidow teaches Entrepreneurial Leadership and Creativity, Innovation and Design at Princeton University. He keynotes on the subject of startup leadership. And he is a media commentator; Lidow’s coverage to date includes The New York Times, Wall Street Journal, BusinessWeek, Forbes, Bloomberg, The Economist, Nikkei, Reuters, and Taipei Times as well as many top bloggers. @DerekLidow

1 It’s the entrepreneur, not the idea that leads an enterprise to success. People make things happen.

2 As an entrepreneur, the most important question you should be asking at the outset is ‘who’s going to help me?’ be wise and hire generalists early on.

2 As an entrepreneur, the most important question you should be asking at the outset is ‘who’s going to help me?’ be wise and hire generalists early on.

3 The key metric for your entrepreneurial success will be your ability to get your company to the point where it’s self-sustainable.

4 As the entrepreneurial leader, your highest priority is inspire your team to action while being agile enough to pivot and change roles as necessary.

5 To excel as an entrepreneurial leader, hone these five essential skills:

5 To excel as an entrepreneurial leader, hone these five essential skills: Self-awareness your motivation, skills & traits.

5 To excel as an entrepreneurial leader, hone these five essential skills: Enterprise Knowledge Project, process & culture.

5 To excel as an entrepreneurial leader, hone these five essential skills: Relationship Building shared objectives & understanding.

5 To excel as an entrepreneurial leader, hone these five essential skills: Motivating Others Inspiring Action.

5 To excel as an entrepreneurial leader, hone these five essential skills: Leading Change Staying Relevant.

6 Until you get your first customer, everything you do is a project. After your first customer, its all about your process.

7 People will feel and perform at their best when they feel autonomous, masterful, and purposeful. create the environment.

8 The maturity of your entrepreneurial venture will follow these four stages:

8 The maturity of your entrepreneurial venture will follow these four stages: Customer Validation customers buy your product.

8 The maturity of your entrepreneurial venture will follow these four stages: Operational Validation - your ability to deliver deliver your product and attract new customers.

8 The maturity of your entrepreneurial venture will follow these four stages: Financial Validation Making a profit.

8 The maturity of your entrepreneurial venture will follow these four stages: Self-sustainability Staying relevant.

9 The entrepreneurial leader who’s creating shared objectives is following these four tenets:

9 The entrepreneurial leader who’s creating shared objectives is following these four tenets: Positioning people to do only those things they can succeed at doing.

9 The entrepreneurial leader who’s creating shared objectives is following these four tenets: Accepting responsibility for the success of every working relationship.

9 The entrepreneurial leader who’s creating shared objectives is following these four tenets: Not letting people who do not trust one another work for one another.

9 The entrepreneurial leader who’s creating shared objectives is following these four tenets: Delegating responsibility and holding people accountable for their results.

10 Your chance of gaining a successful hire are increased if you can be very specific about the skills you need and testing for them.

REALLY REFLECT Who do you need on your team for your company to be self-sustaining?

Connect WITH US! Tell us what you think Chase@33voices.com

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