Entrepreneur

Curious Being

Entrepreneurs maintain a habit of curiosity and openness, continuously asking questions and generating ideas.

Turn obstacles into assets

The best entrepreneurs believe and act as if everything is a gift.

High tolerance for ambiguity

It makes entrepreneurs less likely to get anxious in novel situations or when faced with uncertainty. They can think quickly on their feet and see things from different angles. The unfamiliar is simply an opportunity to adapt.

Using fears and anxieties as fuel

Trying to calm down during an anxiety attack can only worsen performance. Instead, the anxiety must be reframed as excitement.

Focus on the cause of confidence

Success represents more incredible adversity than failure. It is apparent long before the rise of modern psychology. When people succeed, they tend to focus on the cause of their success, believing they were right all along. Successful entrepreneurs have the presence of mind to resist that shift in focus.

Be proactive

It means more than merely taking the initiative. It means that as human beings, people are responsible for their lives. Highly proactive people recognizes that responsibility means the ability to choose a response.

Sphere of influence

Focus on aspects of life that can be controlled, such as mood and habits, while accepting uncontrollable factors.

Begin with the end in mind

This principle involves envisioning the future. It states that all things are created twice, but not all first creations are by conscious design.

First and Second

The physical creation follows the mental, just as a building follows a blueprint. People must make a conscious effort to reach their blueprint or what they envision themselves to be.

Put first things first

Two factors define an activity: Urgent and Important

Urgent

It requires immediate attention. Urgent matters are usually visible; they insist on action.

Importance

It has to do with results. If something is important, it contributes to an entrepreneur’s mission, values, and high-priority goals.

Do right now (Quadrant 1)

Urgent and important tasks that require immediate attention, often crises or problems.

Make time (Quadrant 2)

It deals with things that are not urgent but important. All things people need to do but are not urgent.

Quadrant 3 and 4

This quadrant led to irresponsible lives. Effective people stay out of these quadrants because, urgent or not, they are not important.

Think win-win

A mindset that seeks mutually beneficial solutions in interactions and negotiations. It makes all parties feel good about the decision and committed to the action plan.

Seek first to understand

People typically seek first to be understood. Most people do not listen with the intent to understand; they listen with the intent to reply. They are either speaking or preparing to speak

Empathy is not sympathy 

People often feed on sympathy. It makes them dependent. The essence of empathic listening is not that you agree with someone but you fully, deeply, and understand that person, emotionally and intellectually.

Sympathy

Its a form of agreement or a form or judgement, and it is sometimes the more appropriate emotion and response.

Synergize

It means that the relationship of departments within an organization is catalytic, empowering, unifying, and exciting. In relationships, the whole is more than the sum of its parts.

Sharpen the saw

Maintaining balance in physical, social/emotional, mental, and spiritual areas enhances productivity, efficiency, and effectiveness.

Naert’s Model

Proposes that the purpose of business is to create both economic and societal value simultaneously.

Shareholder Model

Focuses solely on maximizing financial returns without regard for other stakeholders.

Societal Values

Addressing issues like health, education, and equality contributes to higher productivity and societal well-being.

Van Duzer’s Model

Emphasizes serving customers and employees as the dual purpose of business, with profit as a means, not an end.

Parikh’s Model

Argues that the ancient wisdom of Hindu scriptures can be appropriated to business practices.

Bhagavad Gita

It asserts that people should focus on their thoughts and actions rather than the outcomes of those actions.

Karma capitalism

Corporate philanthropy is viewed as a competitive advantage in attracting talent.

Greed is bad

Entrepreneurs should never engage in action only for the desire of awards. Acting on worldly desires leads to failure. Do well, and good things will come.

Be fair

Enlightened leaders are compassionate and selfless. “They treat everyone as equals.” Followers will rally around them and follow their example.

Act rather than react

A leader’s action today can become the “karma” that influences their status tomorrow. Leaders accomplish “excellence by taking action.”

Seek higher consciousness 

Leaders should view problems within their larger contexts. Show sensitivity to multiple stakeholders, including shareholders, employees, partners, and neighbors.

Dharma

It can be understood as a righteous duty or the right path to uphold the family and the organizational and social fabric.

Loka Sanghara

The practice of seeking one’s gain and catering to the welfare of others. It primally reflects all the stakeholders.

Kausalam

Efficient resource use for future generations, reflecting ecological and stakeholder concerns.

Vividhta

The business must be the engine of innovation, constantly seeking more effective solutions to meet its economic and social expectations

Jigyasa

Change and continuity coexist. Corporate governance must keep learning from the feedback loop of society and through internal processes of questioning, challenging, debating, and training

Business Model

A conceptual framework outlining how a company creates and captures value.

Personalized products

Many new models offer products or services tailored to customer’s individual and immediate needs.

Closed-loop process

Many models replace a linear consumption process (in which products are made, used, and disposed of) with a closed loop, in which used products are recycled. This shift reduces overall resources costs.

Asset sharing

Some innovations succeed because they enable, the sharing of costly assets. Sometimes, assets may be shared across a supply chain. The sharing typically happens using two sided online marketplaces that unlock value for both sides.

Usage-based pricing

Some models charge customers when they use the product or service rather than requiring them to buy something outright. The customer benefit because they incur costs only as offering generate value; the company benefits because the number of customers is likely to grow.

Collaborative ecosystem

Some innovations are successful because a new technology improves the relationship with supply chain partners and helps allocate business risks more appropriately, making cost reductions possible.

Agile organization

Innovators sometimes use technology to move away from traditional hierarchical decision-making models to make decision that better reflect market needs and allow real-time adaptation. The result is often more significant value for the customer at less cost to the company.