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    I Have An Idea...Now What?!?: A Blueprint for the 21st Century Entrepreneur
    I Have An Idea...Now What?!?: A Blueprint for the 21st Century Entrepreneur
    I Have An Idea...Now What?!?: A Blueprint for the 21st Century Entrepreneur
    Ebook121 pages1 hour

    I Have An Idea...Now What?!?: A Blueprint for the 21st Century Entrepreneur

    By Remyi Fredson-Cole

    ()

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    About this ebook

    The average age of beginning an entrepreneurial endeavor is
    42, and the average entrepreneur spends between 30 and 70
    percent of their own capital to fund the start-up. This isn't a
    necessarily "safe" investment. In fact, the financial industry
    staple investment advice is to pull back; to invest in safe moderates,
    to mix in bonds and to maintain cashables. Starting a
    business is not the low risk investment that most mid-aged,
    business-minded individuals decide is worth the chance. Yet
    for those with enough guts and enough gusto to take the reigns
    and dive into the world of entrepreneurship, the pay off is far
    greater than the "safe" investments could ever mange. In fact,
    if you're willing to expose yourself to these risks earlier in your
    career, rather than waiting (which seems to be the trend in the
    21st century — never before has the society of American
    entrepreneurs been so young), the payoff is even greater. The
    best way to succeed is by taking control of your own career; the
    easiest way to fall behind is by not having the ball in your hands.
    I Have An Idea…Now What? is both an instructional manual and workbook filled with case
    studies, anecdotes, and insightful advice for start-up success. Each chapter includes simple,
    storied experiences and questions to consider; each meant to shed light on the challenges and joys
    of starting one's own business or endeavor. The questions are designed to help you create your OWN blueprint for success while going through the script. This guideline to entrepreneurial empowerment is an
    interactive blueprint for your next start-up – from someone who has learned lessons the hard
    way, and through it all, managed to find success in several entrepreneurial endeavors.
    LanguageEnglish
    PublisherBookBaby
    Release dateSep 1, 2013
    ISBN9780986043901
    I Have An Idea...Now What?!?: A Blueprint for the 21st Century Entrepreneur

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      Book preview

      I Have An Idea...Now What?!? - Remyi Fredson-Cole

      will or pay

      Regret is a powerful and awe-inspiring emotion, often considered as life nears its end. People live their lives fueled by the fear of regret, asking themselves, What, at the end of my life will I regret not having done? Regret is avoided by asking tough questions early on: What are the things I am willing to do to avoid regret? What risks am I willing to take?

      Regret is less the fear of the unknown, and more the fear of the undone. The challenge is in the execution. Every person needs a driving factor that will kick forward the Will to make him above all, to do above all. This desire to be the best, to go beyond even self-perpetuated expectation derives from passion. It's never too late to begin acting on your passion, and, there's no benefit in procrastination. If you are interested in starting a business, harnessing your Will is the first step in avoiding regret. It's a risk, for sure, but starting and running your own small business is a challenge laden with rewards. Taking the process one step at a time, while listening to your Will (and working with the Will of others) is the key to beginning the journey of entrepreneurship in the 21st century.

      Let's define WILL as Works, Inner, Love Language. The term love language is adapted from Dr. Gary Chapman's The Five Love Languages, in which he details simple verbal techniques that augment relationships by showing appreciation. For the entrepreneur, love language must be spoken to oneself. By being kind to himself, he is able to peel back the onion layers of work attributes that define him. All chefs know that it is an art to get what is needed from an onion before tears impede the culinary creation. Similarly, as we look at our Works-Inner-Love-Language, it's an art to extract from within ourselves the attributes that define personal work style. Knowing your personal work style—listening to your body and understanding your talents—allows you to maximize on your strengths, and work on your weaknesses.

      This personal work style and a personal internal dialogue form your Will. Internally, Will is driven by one's past, education, and family. Externally, Will is driven by financial need and practical possibilities. Both internal and external factors contribute to one's personal work style; attributes like persistence, focus, quality, action, and attention. These positive work attributes presumably create a greater yield out of one's performance. Again, it's not about how many calls you make, it's about the persistence or the quality or the focus that causes those clients on the other end of the line to come back. Each employee must have a sense that his individual qualities are what make the organization strong, and that he wants to achieve more for the endeavor he has set out to accomplish.

      As a business owner, founder and inventor, you birth an idea you have been mulling over a long time, a veteran idea, so to speak. It has bubbled up to a head and you feel it is ready to explode. Turning this veteran idea into a reality relates back to avoiding regret— any idea that has been bubbling beneath the surface is one that warrants action. The energy required to act is your Will. Will usually springs from passion, whether passion for the veteran idea, passion for action, even in some cases, passion to avoid regret. Passion, the feeling of imminent explosion, is what causes you to do whatever it takes to pursue, visualize and realize your veteran idea. Will is what keeps you up at night developing, organizing, contemplating, and maneuvering your move.

      Passion and Will enjoy a symbiotic relationship, where the active energy of Passion relies on the dormant energy of Will. Only you have the power to driven your endeavor from nothing to something. Will is a dormant power source in us all that when applied to passion becomes the catalyst to success. When you begin to build the foundation and framework of your business or start-up, it is important to have a clear understanding of these fundamentals. As the organization of your endeavor begins to take shape, passion and Will synthesize into a model of Will and Pay.

      Let's define PAY as Performance Accelerated Yield. Pay here is more than simply salary. For a start-up to be successful the passion of the proprietors must spread throughout the organization, encouraging people to take pride in their work and make the difference in their company. Performance isn't necessarily about how many phone calls you make, or how much overtime you clock in. It's harnessing the enthusiasm of vested employees and founders and applying it at every level of the organization. Yet it cannot be measured in monetary return; Performance Accelerated Yield is characterized in customer feedback, repeat clients, and the meta-data of customer interaction. If an employer ensures that all employees have been given a position of value within the company, then the individual Works Inner Love Language of the employee will fall in line with the employer's Will, and can then become Performance Accelerated Yield.

      If you've successfully created a Will and Pay model in your business, then you're on the way to a three-pronged success: for the business, the employee, and the client. Everyone involved will feel that her passion (her WILL) has been accepted and is necessary for the organization, and collectively this becomes the company driven, the motivation for PAY. This is successful for the business because all people involved are on the same page, and successful for the employee because her worth and place in the organization is understood. It's successful for the client because when he calls, the employee will relate to him with the same air of quality that is pervasive in the organization. The client walks away feeling as if he has been respected, as if his unique needs have been met. This is Works Inner Love Language becoming Performance Accelerated Yield.

      It is important to have a personal understanding of individual Will, and to be able to define simply what it is and what it is not. Too often we are misguided into substituting

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