Grow your ventures
Turn possible failure into guaranteed success and
Grow your ventures into sustainable businesses…with ten action steps
More new ventures every day
Around the world, the number of new start-up ventures are dramatically on the rise. One interesting study by Moya K. Mason, uses data from the Global Entrepreneurship Monitor, and extrapolates them to include non-member countries.
She estimates that in 2016, worldwide there are 472 million entrepreneurs attempting to create and build 305 million new ventures. Around one-third, or 100 million new businesses will open each year around the world. That’s an average of 274,000 every day!
We all know there are “Lies, damned lies and statistics.” But as we overview in another post, “Failure – the key to your new venture success,” the statistics on the survival rates of new ventures are scary for the first 3-5 years. They range from a low of 8% to a high of 40%. Not that great!
However, the experience of the C.E.O Mentor team, and research into Silicon Valley successes, indicateyou dramatically increase your chance of surviving, and thriving, in your new venture when you follow, and action, these ten core secrets or steps
Ten core secrets
So, turn possible failure into guaranteed success… by you action-ing seven not-so-well-known ‘secrets’.
- Start with an achingly meaningful purpose
- Build only on natural talents and strengths
- Focus on one Big Idea
- Design and grow a business with soul
- Create a killer business model
- Get your early funding from bootstrapping, family and friends and from sales, sales, sales. Then debt, angel funding and venture capital.
- Engage obsessively in dialogue– with your clients, customers, patrons, supporters, and team
- Purposively move your venture through six clear stages: Validation. Efficiency. Scale. Profit Maximising. Renewal.
- Create sound core business systems well before you decide to scale.
- Collaborate! Partner! Team! Collaborate! – rather than going solo.
Over time, we add notes about each of these secrets. So, why not bookmark this page and return regularly?
But right now… here’s an 11th secret:
Reflectiveness is the foundation stone of all learning and growth.
An important study, conducted by the OECD in 34 countries, proved that reflectiveness is the foundation stone on which we build all our skills, strengths and competencies.
Want to build your talents into strengths? Then take time to reflect daily. For example, reflect on the seven ‘secrets’ above. Reflect, on what you have done and learnt today. Reflect on these original Nevilleisms written by CEO Mentor’s Executive Chairman, Neville Christie.
The purpose of our life is to create a life of purpose
Life has no meaning till we create it through our created Purpose
A great Purpose underlies every great business
Our big business Purpose, creates our Destiny
No big fat hairy audacious dreams? That’s a nightmare!
Of course, our business is about making money, but what else is it about?
Tired of chasing your dreams? Ask them where they’re headed. And catch up in a day or two.
One driving idea
How come… business gurus so often peddle snake oil?
Let others steal your lesser ideas. That frees you to ram your One Big Idea down their throats
Your best business driver is your urge to change the world, described in one brief sentence
Customers are the ones we innovate with
Let’s innovate – alone and together. But let’s innovate!
Customers are not created equal – some are far more equal than others
Us asking dumb questions of our customers sure beats us correcting our dumb mistakes.
Define your business goals cleanly and clearly so others see them as you do
The first half of our businesses building takes 99% of our time; so does the second the half
Don’t sweat the detail, they say, but the money’s in the detail
Established business logic and practice is now driving the world crazy
Growing a business is a lot about growing our people in it. And our clients
To re-invent our business, we re-invent us!
Enthusiasm is essential in building any business – but not enthusiastically running with untalented, wrong people
Great talent demands great will power
Recruiting for talent, and incubating talent, are the two best People policies
Everyone an entrepreneur
Sure enough…the entrepreneurial gene is sure restless
Our creativity is our mind out of line
As entrepreneurs, we find the energy to dream while we work our arse off!
Entrepreneurial creativity is divine discontentment
© But you are warmly invited to use them, naming Neville Christie as their author.
Reflect on these Nevilleisms
Want to build your talents into strengths? Then take time to reflect daily…
- reflect on the ten ‘secrets’ above
- reflect, on what you have done and learnt today
- reflect on these original Nevilleisms created by C.E.O. Mentor’s Executive Chairman.