This week we’re looking at how to break free of the norm and rediscover your entrepreneurial spirit.
We’ve found that executives who adopt a more entrepreneurial mindset through coaching and mentoring come up with more innovative ideas and understand how to apply them in their own organisations.
Business leaders should use entrepreneurial thinking to generate new ideas and develop ways to grow their business. This approach can give you an edge, help you penetrate markets faster and accelerate business growth.
Here are some ways to help you get on board with the entrepreneurial approach, no matter how large or small your business is.
Look for what’s missingEntrepreneurial success comes from finding what’s missing and working backwards from that point – it’s finding an innovative solution to solve an existing problem and finding the missing piece. We often think of this as that ‘big new idea’ but more often than not they are linked to the innovative incremental improvements to your products or services.
Find a mentor
Smart entrepreneurs look for mentors who have experience in their industry and bring insight and challenge to their thinking. Mentors can be an important source of information, inspiration and advice, and can often help you to avoid potential problems before they arise.
Have the courage to take calculated risks
Many companies are highly risk-averse, and what are seen as risky ideas are often rejected. But taking suitably calculated risks and thinking outside the box can generate disruptive ideas that can change the future of a business forever at a corporate level, or at the very least keep your products and services current and market leading.
Build a community & talk to them
Someone will always need to use your product or service, but it may be challenging to build initial traction (for newer products or services) or sustainable traction (for more mature products or services) and get people to believe in what you are doing and get behind your success. Try and create a group of ‘super-users’ who you can talk to regularly and get close to. Embrace all the feedback they give you (not just the bits you like) to help you improve and succeed.
Stay in touch with trendsKeep up to date and educate yourself on the latest products, trends and technology. Be curious and make sure you know what’s available and what people are happy to spend their money on. Look for the leaders and experts in the market for inspiration and understand what skills and experience they have.
How can Catalyst help?
At Catalyst, our skilled Group Facilitators and Executive Coaches will help business leaders and managers all over the UK unlock the combined knowledge, experience and insight of your team to help you generate new ideas. We’ll help you change your cultures and behaviours to help you to unlock your potential.
We help executives to transform business performance to be the best it can be. We offer business mentoring and executive coaching programmes, group facilitation and consulting support tailored to your needs and objectives.
We bring a powerful blend of practical business experience and a toolkit of techniques to deliver demonstrable and tangible results. That’s why 100% of our customers would recommend us to others. Take a look at some of our results.
If you’d like to talk to us about helping you or your managers to become top-performing, please get in touch.