I am constantly intrigued by what generates success for entrepreneurs so I may coach and apply this blueprint for my clients. During a fabulous dinner with Alan Weiss this past Wednesday evening at The Spiced Pear in Newport, Rhode Island and over an amazing 2001 Chateau Margaux, we discussed some of the components of such success:
- Internalized Knowledge and experience.
- Intellectual fire power which is gained through additional learning, reading and experience.
- Innovative and creative ideas.
- Mental discipline to get out the intellectual capital (between your ears) into products and services which become your intellectual property. This transfer process is done through instantiation, which is your ability to take complex concepts and simplify them.
- Constant daily creation and addition to your body of knowledge and body of work.
- Passion demonstrated in your work and your contacts with your clients.
Below is a process visual I have just created at 32,00 feet, on my way to Rhode Island to speak at Alan Weiss’s Million Dollar Consulting® College:
There are several elements to the chart above: On the horizontal axis is your “Strategy, Tactics and Execution” (referred below in short as strategy), which are the components of what your business and internet should look like, how will you do it, the steps to get there and your fierce commitment to execute it. On the vertical axis is your “Intellectual Property (IP), Content, Products and Services (referred below in short as content). The plus sign(+) represents the high of each quadrant and the minus sign(-) the low.
Quadrant 4 – Create, innovate or get out – This represents low strategy and low content. These individuals suffer from low or no success and are usually struggling quite a bit. The solution (as in my heading) is quite obvious. If you fall into this quadrant and assuming you have the wisdom and passion, start creating and innovating while developing and executing your strategy or find another occupation.
Quadrant 3 – Best kept secret – This represents high content and low strategy. These individuals have outstanding content and lack the strategy to make them extremely successful. Although, some do see some success, the majority struggle to reach that next level in their business.
Quadrant 2 – The emperor has no clothes – This represents high strategy and low content. These individuals are good at the strategic aspect of their business and may even be somewhat successful for a while but they lack the wisdom or the knowledge of how to do it or they use fraudulent techniques.
Quadrant 1 – It’s good to be the king – This represents high strategy and high content. These individuals are great at what they do, their content is good to remarkable, they execute powerful and effective strategy and are extremely successful.
The solution is pretty straight forward. Focus on creating and innovating while increasing your IP, content, products and services while making sure you have a clear strategy and tactics that you execute well and with great discipline.
© Chad Barr 2009. All rights reserved.
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