Over the years I have avidly studied & researched entrepreneurs from attending their seminars, reading their books to talking to them face to face. Through my contradicting career in both business and design my research has concluded that the disappointing mortality rate for business start-ups in the UK beyond year one is based on the absence of one essential SECRET ingredient PLUS;
- Understanding of how to Design & Engineer a sustainable business fit for the 21st Century.
- Knowledge of whether you have the characteristics of the Entrepreneur.
The ONE essential ingredient rarely discussed in business is the same essential ingredient which is responsible for creating solutions, progress, innovation & economic growth and is central to my books ‘The Enterprise Black Box Thinking’ & ‘The Entrepreneur White Ball Thinking’.
Why do we need a new ENTREPRENEURSHIP FORMULA?
Look at the UK statistics!
- Why are the majority of New business’s Sole traders with no employees?
- Why do we have such ridiculous Business failures- or infant mortality rates Year 5? mortality rates Year 10? in the UK.
Here is just one piece of the jigsaw puzzle- our current obsession with robotic process’s, systems, and the franchise phenomenon is eroding free thinking and our economical competitiveness for growth. Why?
At the age of 25 as a relatively new business start-up, I had already read & listened to multiple business books and audio programs due to being brought up in a family in business. I was introduced to a book by a fellow young Scottish entrepreneur (whom later made his multi million pound fortune in Mobile Telephones). This book totally transformed my perception and thinking of business forever, and provided a solution to building a business which later enabled me to build a successful micro business (allowing me as a mother to put my young family first).
That book was Michael Gerber’s “The E-Myth Revisited”. Almost 20 years on this is still my No.2 Favourite book (after No.1 Think & Grow Rich) which I have recommended to countless business friends. For those of you unfamiliar with the E-Myth it simply promotes the benefits and logic behind the franchise culture and business’s built on strong, methodical systems and operating systems.
Disappointingly though 20 years on it’s success and like minded business philosophies have been taken quite literally. Tell me if I am wrong, we now have a culture of business obsessed with operating systems & rules. 8 out of 10 Call Centres or banks etc. are scripted, impersonal, many with systems for systems sake, rules over ride personal initiative and common sense.
Yes rules, systems, statistics and processes are essential to business (I am a major fan of W. Edwards Deming) but this is only 50% of what makes a successful & sustainable business & economy. The fact is that our Greatest Entrepreneurs & thinkers don’t define the characteristics of the business analyst or bureaucrat:
Apple- Steve Jobs/ Steve Wozniak -Innovation, Design, Engineering,Imagination.
The Body Shop- Dame Anita Roddick- Activist, Social reformer, Visionary.
Dyson-James Dyson- IP, Patents, Innovation, Engineering.
Paypal/Tesla/ Solar City/SpaceX- Elon Musk- Vision, Engineering, Science.
They epitomise freedom of expression, thought & ideas, they are predominantly REBELS and are all ultimately free thinkers.
- Where are the creative thinkers, Designers & Innovators in your organisation?
- What are you investing your time & resources in?
- Why not Products & R&D? (MUST see Dyson/Dimbleby lecture ) is all your focus on Advertising & MARKETING?? http://www.bbc.co.uk/pressoffice/pressreleases/stories/2004/12_december/09/dyson.shtml)
- Are you generating new ideas & models of enterprise? or are you bogged down in refining processes systems & rules?
- Are you creating the next innovation & investing in IP or are you too focused on building a safe unimaginative business model i.e. franchise, service business.
- Are you building a team of skilled, free thinkers i.e. engineers, technicians, scientists? or a predominantly robotic workforce another Call centre culture.
I wrote ‘The Enterprise Black Box Thinking’ & ‘The Entrepreneur White Ball Thinking’ to promote the importance of Creativity, Creative Thinkers, Designers & Inventors. Interested in learning more? READ ON!