Showing posts with label Risk taking. Show all posts
Showing posts with label Risk taking. Show all posts

"I DON'T HAVE A CHOICE"





You may think that you don't have a choice, but you do.

The real question is this, "Are you willing to take a risk?" 

When you play it safe, your options become limited. (or you might even run out of options)

The great men in the bible like David, Moses or Daniel, (or even in history) accomplished big things, not because they weighed the options, but because they took bold steps that weren't even an option in the first place.

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HOW TO BECOME AN EXPERT







What makes an expert?

A generic answer we often hear is that an expert is someone who has gained a lot of "experience."

Malcolm Gladwell, the author of Outliers, puts it more eloquently  – It takes 10,000 hours of practice to be an expert in any field.

Easy? 

Yes, maybe if it's just about counting the years in a calendar.

What's not obvious in that statement are the things that you should be able to do (and endure) to reach 10,000 hours. 

You're most likely to quit when... 
... a deal you've hoped for didn't push through 
... a lot of your attempts failed
... you hit a wall
... you feel like giving up

It's not just about the number of hours. It's what you learn in those hours and how you respond to situations not in your favor.

So I'd say, "An expert is someone who've made a lot of mistakes, persisted, and found ways to succeed."

We, Pinoys, grew up in an environment where our elders (parents, teachers, leaders) discouraged us from making mistakes. We were told that  in order to succeed, we need to follow the rules or the textbook. Only to find out later on that the "old rules" doesn't apply in today's world anymore.

While no one should aim for mistakes, we shouldn't be too afraid to make them as well. Making a mess is a part of learning. 

As a young entrepreneur, what proved to work for me is this saying – Fail fast, fail cheap and fail often. Do that, innovation, maturity and expertise will follow! [image credit]


YENG REMULLA is an entrepreneur of 15 years, the author of two books –Productive Pinoy and Start Something.

On August 3, Saturday, he will be facilitating a talk or workshop on Entrepreneurship at the Malayan Plaza Hotel Ortigas. To see the details or to register, simply click HERE and fill-out the form.  



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GET YOUR FEET WET




Inside of you is a longing to do something great. 

Whether it's raising your children well, building a profitable business or making art, you can't deny your eagerness to make things even better.

How do you start? 

Let go of the excuses. Do something uncomfortable. Expect mistakes. Allow to get your feet wet. 


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Lessons from Kodak, Beepers and Continuous Change



Using the Easy Call paging service wasn't as easy as you would think. Telling an operator to say sorry for you is humiliating. (Dyahe!) Not only that it is hard to dictate an apology to someone you don’t know, the agent seems to always take on a sleepy (bedroom) voice every time you call.

Operator:
Easy call Pager Number 141-14344. Your name please? (male bedroom voice)

You: Jhun.

Operator: Is that Juliet, Uniform, November? (confirming)

You: No, Ju-hun, with an 'H'.

Operator: Message please.

You: Ummmm... I'm sorry na...

Operator: [typing sound] Is there anything else?

You: Ummm...Yes. Umm... I won't do it again? (hesitant, but you continue anyway) Ikaw kasi eh, kung di mo lang ginawa yun...

After dictating your insincere apology, you still end up with the four words you should've said, “Please call me now” or "Turn on your cellphone, I will call you." (During that era, to conserve the 2-hour battery life of cell phones, people only turn it on when someone beeped them.)

In the mid-90s, Globe introduced a better way to communicate – via text messages. (Post star-tac era) The idea that you can send messages without calling an operator was a big relief.

Today, try to design a beeper with state-of-the-art features, sell it at the cheapest price possible, then add extra functionality, still, no one will buy it.

It's simply obsolete.

Somehow, there's a tendency for us to think that if we offer something that's cheaper, bigger, better or with more features of the same-old-boring-product, we will succeed. (Big–Sameness)

Take Kodak for example. They filed their bankruptcy just today. (1/20/12) Even though they were an early pioneer of digital photography, (they had the patents and expertise) they chose to hold on (too long) to their film business. (old success) Obviously, that didn't do them well.  

To succeed in business today requires : 
1. The willingness to let go of what worked yesterday.
2. The ability to make quick decisions.
3. The courage to embrace change. 

Get rid of the old ideas that you've heard from your non-practicing professors. 

The world has changed. 

Keep your core values and principles, but when it comes to doing things, consider new ways. Adapt to new technologies. Better yet, create it. 

Don't wait for your competitor to come up with a category-killer. Instead, make your own product obsolete by building the next big thing.


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