Entrepreneurial Leadership: Grow, Build, Develop (Probability (Uncertainty))
“Grow, build, and develop the right way.” – Raj Gavurla
In the following weeks, I will focus on delivering practical and pragmatic entrepreneurial leadership tools. To receive these entrepreneurial leadership tools and much more you can invest in my manual Entrepreneurial Thinking Tools.
Buy now: motivateyourresults.com
This week we’ll apply the entrepreneurial leadership learning to the importance of probability (uncertainty).
Entrepreneurial Leadership Tool #1:
Entrepreneurial Success =
(Time (1 or 0) + Work (1 or 0) + Money (1 or 0)) x Probability (1, .5, or 0)
Probability (Uncertainty) (1, .5, or 0)
In 2017 where are you investing your entrepreneurial leadership? To maximize entrepreneurial leadership you want to invest in projects/endeavors at various stages and at various times with varying probability (uncertainty). Yes, the probability (uncertainty) of you being alive tomorrow has a probability factor based on lots of living factors.
In your business and projects, you want meaningful work with a probability (uncertainty) of a 1 (do it now), .5 (carefully consider doing it), and 0 (don’t do it). There are no other numbers besides 1, .5, or 0. If probability (uncertainty) is a 1 then you know what to do. If it’s a .5 how to make it a 1 is very important to determine. If it is a 0 then it’s not worth investing. Don’t try to make a 0 a .5 or a 1. You’ll be wasting your time. Better results and time are of most value to you.
Therefore, Entrepreneurial Success = (Time + Work + Money) x Probability (Uncertainty)
Ex. 1: Entrepreneurial Success = (1+1+1) x (1) = 3 (do it now)
Ex. 2: Entrepreneurial Success = (1+1+1) x (.5) = carefully consider it (how to make it a 3?)
Ex. 3: Entrepreneurial Success = (any total other than 3 for time, work, money) x (any probability) = don’t do it
“Let go of those who bring you down and surround yourself with those who bring out the best in you.” Unknown
For programs and services, contact Raj at 864.569.2315, raj@rajgavurla.com.
Money (1 or 0)
In 2017 where are you investing your money? To maximize your money you want to invest in high-value services and products with ten times the return on investment (ROI).
Q1: Do your research and preparation show your suppliers service(s) and/or product(s) are of high value towards your objectives?
This focuses on the qualitative aspects of doing business. For example, setting a record, a pilot, image, brand awareness, and having more than one supplier so you’re more efficient and effective.
Q2: How do you determine there will be a ten times return on your investment?
This focuses on the quantitative aspects of doing business. The robust investments/projects return ten times greater ROI upon completion of the investment/project. If it makes sense to reinvest and/or add service(s) and product(s), then best to do so. All others vary based on time period. Work with your supplier to determine how to receive high value and ten times the ROI.
Think of three investments made in your business?
1. Invested in a marketing campaign
Depending on if this is already a revenue producing service or product or if it is a pilot the same formula applies:
Investment = High Value and ten times the ROI
In a marketing campaign of high value is brand awareness. Also, you need to determine the way to receive ten times the ROI. The reason is because your project and business are unsustainable without it.
2. Invested in technology
Of high value are increased capabilities, efficiency, ease of use, and status. Also, you need to determine the way to receive ten times the ROI. The reason is because your project and business are unsustainable without it.
Investment = High Value and ten times the ROI
3. Invested in education
Of high value are increased skillset, get a better job and new opportunities, and adding your skillset to another market. Also, you need to determine the way to receive ten times the ROI. The reason is because your education/learning and business are unsustainable without it.
Investment = High Value and ten times the ROI
4. Think of three private investments made?
Examples are a house, car, healthcare, and the food you eat. Of high value are shelter, safety, warmth, nutrition, and good health. Also, you need to determine the way to receive ten times the ROI. The reason is because your living is unsustainable without it.
Investment = High Value and ten times the ROI
I will cover funding (entrepreneurial fund (EF)) when I teach my second Entrepreneurial Success Tool.
Calculate your qualitative (high value) and quantitative (ROI) for each of the above. Are you researching, is your preparation, and investments done with the right mindset? Determine how high value delivers a ten times ROI for you.
“Your qualitative drives your quantitative.” – Raj Gavurla
For programs and services, contact Raj at 864.569.2315, raj@rajgavurla.com.
Work (1 or 0)
In 2017 where are you investing your work? To maximize work you want to do work that is meaningful, has value, and is important to you. This includes work that has value in your business, professional association(s) member volunteer work, community volunteer and advocacy work, home project(s), and faith-based volunteer work. To reiterate, it should be meaningful to you, has value, and is important to you. This doesn’t mean it needs to be work your family or friends want to do. It’s work you want to do. In the Entrepreneurial Success Formula work has a value of “1” (has value to the company) or “0” (no value to the company).
“Don’t let someone who gave up on their dreams talk you out of going after yours.” – Zig Ziglar
For programs and services, contact Raj at 864.569.2315, raj@rajgavurla.com.
Time (1 or 0)
In 2017 where are you investing your time? You want to maximize your time. This has the most value to you in living your great dreams, goals, vision, and mission. The best way to maximize your time is to prepare.
Do you attend a meeting by preparing? This is the number one reason one person does business with you versus with another person.
Do you schedule an in-person meeting when a meeting isn’t wanted?
Do you schedule a conference call when an in-person meeting is wanted?
Do you return a phone call or reply to an e-mail?
As a humanitarian and citizen, maximizing your time gives you the time to do community volunteer and advocacy work.
Put your criteria to determine the best approach for you and the other party. Just because you or they want it doesn’t mean it’s the best approach. Only, do what adds value for the both of you. Next week, we’ll apply the entrepreneurial leadership learning to the importance of your work. In the Entrepreneurial Success Formula time has a value of “1” (can be done in a timely manner/worth the time) or “0” (time prohibitive).
Entrepreneurial Leadership Tool #2:
Invest, Save, Benefits, Entrepreneurial Fund (EF)
Entrepreneurial Leadership Tools #3:
Grow, Build, Develop
Entrepreneurial Leadership Tools #4:
Performance Shift (PS) and Entrepreneurial Shift (ES)
Entrepreneurial Leadership Tool #5:
Better Results / Faster
Entrepreneurial Leadership Tool #6:
Do 1% Better
I will add more. To receive these tools and much more you can invest in my manual Entrepreneurial Thinking Tools. Buy now: motivateyourresults.com
“Every moment you live in the past is a moment you waste in the present.” Tony Robbins
For programs and services, contact Raj at 864.569.2315, raj@rajgavurla.com.
About the Author Raj Gavurla
Raj helps and works with individuals, teams, and athletes that want to experience human performance, life, organizational development and breakthroughs interconnected with your life, business, and sports.