Category Archives: Enlightened Entrepreneurship

Choosing your response 

Strategic or Operational?

Question-Exec-SummaryEntrepreneurs are by nature action-oriented and they trust their instincts. So they are quick to assess any new challenge and decide on a response immediately. But before leaping into action, it is important to ask yourself an important initial question: It is a strategic issue or operational issue?

The answer will help you make better decisions about both the immediate response and the long-term action required.

Consider this example: You’re about to complete your month-end reports when suddenly your system freezes then crashes and you cannot access the files again. Sounds like a crisis that needs urgent action, right? But before you launch into the operational solutions and call tech support, run the back-up, or install a software patch, ask if there is a strategic issue to be resolved here. Especially if this has happened before.

Have you outgrown the software? Is your hardware sufficiently robust and reliable? Are the staff adequately trained? These are long-term issues that may need to be addressed. The problem may need to be fixed now, but how can we prevent it happening again? What needs to change?

And most importantly, what have we learned that we can apply in response to future challenges.

Keep learning, to be better and do better.

Your Uncle Ralph, Del Chatterson

Read more at: Learning Entrepreneurship Blogs

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Click Here to check out Uncle Ralph’s books, "Don't Do It the Hard Way" and "The Complete Do-It-Yourself Guide to Business Plans" Both are available online or at your favourite bookstore in hard cover, paperback or e-book.

 

Whose business is it anyway?

frustratedAll these people want a piece of me

You thought you were the owner of the business and did not have to share with anyone else? Sorry, that’s not how it works.

Your business is essentially an economic entity in the social order, but you cannot ignore all the implications for society at large and the expectations of all the other stakeholders who are not shareholders.

Here’s the list: employees, customers, suppliers, and the bank; the landlord, the city, the province or state and federal governments; industry and professional associations, regulatory and environmental authorities. Essentially everyone you work with expects to be paid their fair share and for you to take care of them, their families, the community and the planet.

And of course your friends and family are also counting on you to do well, so you can treat them well. Especially if you still owe them some of that love money that got you started.

Such is life in the real world. Work hard, do well and prosper, but remember your obligations as an enlightened entrepreneur,

Your Uncle Ralph, Del Chatterson

Read more at: Learning Entrepreneurship Blogs

Join our mailing list for more ideas, information and inspiration for entrepreneurs.

Click Here to check out Uncle Ralph’s books, "Don't Do It the Hard Way" and "The Complete Do-It-Yourself Guide to Business Plans" Both are available online or at your favourite bookstore in hard cover, paperback or e-book.