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Normal career or your own business ? 2017
This document discusses the pros and cons of pursuing a career working for someone else versus starting your own business. Richard Lucas aims to help the reader think through these options by asking questions about their goals, motivations, strengths, and weaknesses. He covers topics like understanding entrepreneurship, evaluating business ideas, developing leadership skills, sales and marketing strategies, building a productive organizational culture, and avoiding common mistakes in execution. The overall goal is to have an interactive workshop where participants can discuss their experiences and share ideas on deciding between a traditional career or becoming an entrepreneur.
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Normal career or your own business ? 2017
- 1. RICHARDLUCAS A ‘normal’ careeror your own business ? www.richardlucas.com
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- 4. Ice Cream Factory Challenge Richard in1982 www.richardlucas.com
- 5. Rules • JRL rule •Workshop – not a talk -> Participation, discussion • Be useful, share ideas, experiences www.richardlucas.com
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- 7. Goals Help you thinkthrough the Pros and Cons Answer questions Be Helpful www.richardlucas.com
- 8. Not Me telling youyou “should “ start a business Don’t let other people tell you what to do www.richardlucas.com
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- 10. Goals Help you thinkthrough the Pros and Cons Answer questions Be Helpful www.richardlucas.com
- 11. www.richardlucas.com “Claire is far tooartistic to want to go into business” Mum
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- 15. “I KEEP sixhonest serving- men (They taught me all I knew); Their names are What and Why and When And How and Where and Who.” Rudyard Kipling www.richardlucas.com
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- 18. Entrepreneur? • Who • What •How • Why • When • Where www.richardlucas.com
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- 21. RICHARD AND MAURICE1940 PRODUCTION LINE CONCEPT 1948 RAY CROC (1902) 1954 TAKE OVER 1961 2016 REVENUE about >$25 bn www.richardlucas.com
- 22. Why? • 1906r SōichirōHonda • 1921 Left home 15 years old • 1922 Apprentice in Tokyo • 1928 Founded car repair workshop www.richardlucas.com
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- 24. Work for someoneelse? Advantages ? Why ? What are you aiming to achieve Who are you trying to impress www.richardlucas.com
- 25. Working for someone-minuses What can go wrong? How well do you know yourself Is it a compromise? www.richardlucas.com
- 26. BAD STUFF • Pornon company PCs • Sexism/Racism etc • Bullying • B.O. • Dishonesty www.richardlucas.com
- 27. Your own business? Pluses Minuses
- 28. Your own business? What’sthe most important question ? www.richardlucas.com
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- 30. Own business -advantages? Why start a business ? www.richardlucas.com
- 31. Your own business– Mini MBA ? • A great idea ? - Michael Dell … 3Ps, 4Cs, 4 Ts • Interpersonal skills/Motivation • Being organised - MBA • Self Awareness www.richardlucas.com
- 32. Before you start Tryto buy what you want to sell www.richardlucas.com
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- 35. Analysing your businessidea • What’s different/faster/better/cheaper/cooler • What/whose serious problem do you solve • What value are you going to add/create • Why you/your team/company? • Why are clients going to be happy ? • What’s going to stop people copying you? www.richardlucas.com
- 36. Free money canbe dangerous • If u’ve got money from family, 10 years work, VC remember the parable of the Prodigal Son.. • Kids at school with too much money • Learn to do things cheaply • Think like a small business/behave like a big one www.richardlucas.com
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- 38. Families, Fools, Friendsand angels • What are the advantages / disadvantages • Angels • Gentlemen’s agreements. Fair deals – „I put up the money, you do the work, split the profit” – You need GBP10K to make GBP50K • What happens if it goes wrong? www.richardlucas.com
- 39. GOOD STUFF • NOTYOUR BOSS • YOU WANTED TO BE FREE • YOU ARE FREE TO BE REJECTED • MONEY GIVES YOU INDEPENDENCE www.richardlucas.com
- 40. Leadership Getting other peopleto follow willingly Faith, Courage, Be an example, Trust, Knowledge, skill, discipline ability Ignite Warsaw February 2011
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- 42. Motivation – Why? •Mr. Hanel –so rich he could be anywhere. He is still working • You must be competitive, but individually competitive people are not good leaders. • Many think „If I’m am going to win, I must be the best - but a leader succeeds through bringing the best out of the people he (or she) leads • Managers sometimes think ‘aren’t I clever’ ‘I’ll show ‘em’ ‘people round here call me the brain’. • Staff think ‘If you are so rich, why the XXXX aren’t you smart”
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- 44. • Be selfaware – what will make you happy? • Be strategic – know what you want. Be careful • Aim for leverage • Spend less than you make • Volunteer, network, tweet, ask questions, talk to clients, even if you are not in sales • Learn how to sell, even if you are not in sales www.richardlucas.com
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- 46. Product (service) • Not‘what is it?’ but ‘Why?’ • Why should people buy it? • What is better and different? • How are you going to keep it getting better and better (re investment) • Talk to clients… anticipate their needs
- 47. Organisation & Processes •Be a Swiss watch • Be well organised • Reliable • Take responsibility • Make it all happen • How are you going to get it all done • Automation automation automation Global Entrepreneurship Week 2010
- 48. Interpersonal skills • whodo you need to get on with and why? • communication skills • Understanding people is key to motivation • What are the characteristics of a leader? • Can you ‘be friends’ with your team? Global Entrepreneurship Week 2010
- 49. Character mistakes • IfI’m am going to win, I must be the best • Aren’t I clever “people round here call me the brain” • If you are so rich, why the XXXX aren’t you smart” • Face up to to your weaknesses. • Bad with people, bad at giving negative feedback • Avoid conflict/Don’t criticise to people’s face • Don’t set an example
- 50. Execution mistakes • Timemanagement • Failure to delegate • Learning to let go • Productivity • Create an environment – for ordinary people to do extraordinary things – to work the way you would work only better • Getting things done
- 51. Product (service) • Not‘what is it?’ but ‘Why?’ • Why should people buy it? • What is better and different? • How are you going to keep it getting better and better (re investment) • Talk to clients… anticipate their needs Global Entrepreneurship Week 2010
- 52. Organisation & Process •Be a Swiss watch • Be well organised • Reliable • Take responsibility • Make it all happen • How are you going to get it all done • Automation automation automation Global Entrepreneurship Week 2010
- 53. Productive Culture Meetings haveto be productive –If you don’t know the objective clarify or don’t go –Topic / agenda presented before the meeting –Always (written) Who? What? When?
- 54. Productive Culture/2 Criticism mustbe constructive –What is the problem –What is the cause of the problem –What are the possible solutions –Which one do I think is best
- 55. Productive Culture/3 Get thingsdone/time management – Action orientated. Better well executed good idea, than over discussed great idea – Staff should know to manage their own time. (urgent/important) set realistic daily and long term priorities and goals …
- 56. Productive Culture/4 Learn howto manage people and Teams Not Rocket Science
- 57. Sales Skills • Whatis the stereotype of a sales person? • What skills does a good sales person have to have • Listen, think and ask questions Global Entrepreneurship Week 2010
- 58. Marketing is aboutsales leads • Sack anyone who thinks the logo is unemotional • Systematically hunt organisation and people like your first „good” client • Put sales at the top of your „to do” list • Treat your top sales people like the geniuses they are. • marketing serves sales
- 59. Before a meeting •Review history of contacts • Use linkedin to find additional executives on the same site. • Review track record for, competition, applications, prepare relevant case studies • Review client web site, about us, news Google • If it involves travel, check internal data sources and external sources to get other meetings in the same area, and make additional appointments
- 60. On site • Befriendly to gate keepers, receptionists, get them into conversation • Collect in house newspapers • Keep eyes and ears open for additional opportunities. • When your prospect arrives, smile, make eye contact and let them lead
- 61. Open mini pitch •Thank you for seeing us, I appreciate you must be busy – I’ve been on your web site, and got some ideas of things that we could do for you based on the type of work we’ve done for companies like yours.I;ve got a presentation about our company and track record but before we get into that could you tell me a b
- 62. Interpersonal skills • whodo you need to get on with and why? • communication skills • Understanding people is key to motivation • What are the characteristics of a leader? Global Entrepreneurship Week 2010
- 63. Character mistakes • IfI’m am going to win, I must be the best • Aren’t I clever “people round here call me the brain” • If you are so rich, why the XXXX aren’t you smart” • Face up to to your weaknesses. • Bad with people, bad at giving negative feedback • Avoid conflict/Don’t criticise to people’s face • Don’t set an example
- 64. Execution mistakes • Timemanagement • Failure to delegate • Learning to let go • Productivity • Create an environment – for ordinary people to do extraordinary things – to work the way you would work only better • Getting things done
- 65. Leadership and discipline •Leadership is the abliity to get others to willingly take a course of action • Discipline is the acceptance of leadership. • The purpose of the leader and the led has to be clear to all, otherwise there can be no acceptance • Leading people is a skill
- 66. The task ofa leader is.. • To use people for a purpose • A clear and worthwhile goal has to clear, with the will and commitment to achieve it • The goal has to be communicated • Acquire and use the skills to lead. Skill is the result of natural aptitude with knowledge and experience
- 67. Qualities of aleader • Courage • Willpower • Judgement • Common sense and flexibility • Knowledge • Concern for your staff • Integrity • Faith
- 68. Get co-operation ofthe team? • Get people to follow but how ? – Be admirable. An example – Show concern – Be firm – Discipline from the word “disciple” meaning follow • Communicate a purpose people can believe in. Be ready to explain „why? „ • Sun Tsu “treat your men as children...(but old fashioned style, with authority...) • Once the debate is over, power has to be clear
- 69. Qualities of aleader • Sets an example, and commands respect for his – skills – abilities, – knowledge and/or experience • A leader chosen for their potential without enough experience may struggle to establish authority
- 70. Motivation • Theory Xand Theory Y McGregor • Lynda Gratton and hotspots” Teams that create a Hot Spot in organisations are energized and buzzing with inspiration. They know that, working together, they will make a difference by achieving something brilliant, important and purposeful, with a strong impact on the bottom line of the business • Knowledge workers are volunteers • Cannot buy initiative • How to balance discipline and initiative
- 71. Good leaders makebest use of their team • Gets ordinary people to do extraordinary things • Brings the best out of each individual • maintains and supports their team • Gives them the tools and training to do their job • As if you were there, when you are not
- 72. Leaders should • Setclear and challenging goals • Make sure team knows what the leaders would do without asking • Be good listeners, know team as people • Never panic • Trust and verify that their trust is deserved
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- 74. Are you thesmartest guy in the room ? Ignite Warsaw February 2011
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- 84. Get good atsomething useful www.richardlucas.com
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