Beyond Entrepreneurship 2.0

Judicious use of analysis is good, as long as you don’t fall prey to “analysis paralysis.” There are seldom enough facts or data to eliminate all risk or to make a decision based solely on those facts. Furthermore, all business analysis is dramatically affected by your assumptions. Two people looking at the same set of facts will often come to enti

Leon Bean’s response to people who thought he should grow more rapidly in order to make more money: “I’m already eating three meals a day, and couldn’t eat a fourth.”

Four Basic Principles of Setting Effective Strategy There are four key principles to keep in mind when setting company strategy. The strategy must descend directly from your vision. Remember, it’s impossible to set strategy unless you have a crystal clear idea of what you’re trying to do in the first place. Vision first, then strategy! The strategy

We would like to emphasize one final element of effective leadership style: an “ever forward” mentality. Leaders of great companies are always moving forward—progressing—as individuals (personal growth) and they pass this ever forward psychology along to the company. They have a high energy level and never become complacent.

Think again of your BHAG like a big mountain to climb. Once you’ve clarified your core values and purpose, you set a BHAG, get the right people on the team, and set a strategy. Then you break the climb down into base camps, which are three- to-five-year targets that move you up the mountain. Then you set your top priorities for the coming year, the

Provide educational materials on the creative process. When people are hired, give them a book on personal creativity. Purchase and circulate reading materials on creativity; you might even consider selecting one book per year that the company buys for each person and gives as a gift. Some readings on the creative process that we recommend are: Cre

In Bill’s view, entrepreneurial success shouldn’t be primarily about what you do but about who you are. Just as a great painting or piece of music reflects the inner values of the artist, so, too, a great company reflects the core values of its entrepreneurial leaders.

Have you ever noticed that extraordinary people—people like Michelangelo, Churchill, Roosevelt, and Maslow—led productive, fulfilled lives right up to their deaths? They had a sense of personal purpose that could never be completed; they would never be done; they could never submit themselves to the oblivion of unproductive retirement.

You’ve probably noticed that none of our target examples are defined with numbers. Can a quantitative target be an effective mission? Yes, but with caution.