Entrepreneur Showcase, Small Business BC

by George Moen on October 7, 2009

Originally posted in 2009 but the same points are valid today as they were then.

Key Success Strategies For Any Entrepreneur

I had the pleasure of being the “featured speaker” at the BC Small Business
Entrepreneur Showcase and networking event on Oct 7th 2009 in Vancouver.
Oct. is small biz month and these folks have an annual event where they provide
access to seasoned entrepreneurs and a platform to learn. What I have done
in this article is to provide a overview of my presentation. I started my first
business in 1978 and have learned many lessons and have been influenced by
a wide variety of mentors over the years. I have paid a very a big price for these
truths both in study and money. Enjoy!

ON ENTREPRENEURSHIP

Presentation to Entrepreneur Showcase, Small Business BC, October 7, 2009 by George Moen, President, Blenz The Canadian Coffee Company.

These are the lessons I’ve learned (so far) in my 38 years of entrepreneurship:

Pursue Your Passion

  • Work at something you’re passionate about.
  • Don’t do something just because you can.
  • There’s no point in doing something if you don’t love it.
  • Become an expert.
  • Work to a Plan

  • Think big, but …
    - Develop a detailed plan and a budget.
  • Avoid overwhelming yourself.
    - Focus on 3 to 4 specific goals for a year.
  • Monitor your results quarterly.
  • Once one goal is complete, add the next
  • Have a Mission

  • You need to have a Mission Statement to be “On Mission”.
  • Act out your Mission Statement.
  • “On Time, On Budget, On Spec”
  • If you say you will, you’d better.
  • Fail Forward

  • Do it rough until you do it well.
  • Don’t be afraid to fail.
  • Businesses fail … People don’t.
  • Pursue a Debt-Free Life

  • Debt is an anchor.
  • Put away the chequebook.
  • If you knew how it felt to be debt-free, you’d work harder!
  • Diversify

  • Develop multiple streams of income.
  • Always Be A Student

  • Read.
  • Network.
  • Be a great listener.
  • Embrace Change.
    - The only constant is change.
    - Only pursue change if there’s a clear and obvious benefit.
  • Develop discipline.
  • Network

  • Find genuine support.
    - No one can win alone.
  • Team with like-minded people
    …to amplify your efforts.
  • Surround yourself with a great virtual team.
    - Virtual Teams are the structure of the future.
  • Network without expectation
    - Your Network is your Net Worth.
  • Don’t grow a hero complex.
  • Mentor

  • Give some of your time and effort to someone else.
  • You’re only as good as what you give.
  • This is something you can do just because you can.
  • Protect Yourself and Your Family
    ………………’Nuff said.

    Never, Never, Never Quit

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