Before You Quit Your Job

Entrepreneur: In pursuit of opportunities without regards to resources currently controlled.

Difference	Entrepreneur (Promoter)	Employee (Trustee)
Strategic orientation	Perception of opportunity	Control of resources
Management structure	Flat multiple informal networks	Formalized hierarchy with multiple tiers

5 P’s in marketing: Product, Person, Price, Place and Position. And then profit.

The purpose of marketing is to get the phone to ring.

Lesson 1

A successful business is created before there is a business.

Entrepreneur’s most important job is to design the business that grow, employ many people, add value to its customers, be a responsible corporate citizen, bring prosperity to anyone who works on the business, be charitable and eventually, no need for the entrepreneur.

Look for good people and good business system.

Lesson 2

How to turn bad luck into good luck?

Lesson 3

Know the difference between your job and your work. The job is what you get paid for. Your work is the preparation for your job.

The jobs of a business (from B-I triangle):

1) product, 2) legal, 3) systems, 4) communications, and 5) cash flow.

The way to stop failing is to fail faster.

3 kinds of business school: 1) traditional, 2) family, 3) corporate, and 4) street.

Lesson 4

Success reveals your failures.

4 types of thinkers: Analytical, Creative, Technical, and People.

Choose one and commit the rest of your life to being the best at that level. Bring the rest on team.

The most important job is to develop yourself. Strive to be as smart as you can be.

Lesson 5

Process is more important than goals.

The process determines who you become in obtaining your goals.

Lesson 6

The best answers are found in your heart, not head.

3 kinds of money: competitive, cooperative, and spiritual.

% of time you spend on your business: future, present, and past. > 50% should be spent on future.

Lesson 7

The scope of the mission determines the product.

The stronger mission wins.

Lesson 8

Design a business that can do something that no other business can do.

Leader: to change the company and allow it to grow and server more people.

Lesson 9

Don’t fight the barging basement.

1. Pain-in-the-ass factor.

2. Hire slow, fire fast.

3. There are 2 types of communicators: a) face to face and b) behind your back.

Communication is not only talking. It’s listening too.

Lesson 10

Know when to quit.

10 Suggestions:

1) Check your attitude

2) Gain experience in 5 levels of B-I triangle

3) Sales = income

4) Be brutally honest with yourself

5) Spend money and have more coming back. Know when, what on and how much

6) Start a business to practice

7) Be willing to ask for help

8) Find a mentor

9) Join local entrepreneurs association

10) Be faithful to the process