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Category - Strategic Planning

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1
3 Secrets of Entrepreneurship
2
What Competitive Advantage?
3
How To Implement Your Plan Successfully
4
Begin With The End In Mind
5
Keep Getting Value From Teik Oh Dot Com

3 Secrets of Entrepreneurship

This blog post is entitled, “3 Secrets of Entrepreneurship”.

Really? Only three?

Well, yes! These are the top three things you must get right if you want to be a successful entrepreneur. They are the three key strategic issues because everything else comes and cascades from these three secrets. All the work you have to do is to ensure you get these three secrets right. I don’t care what kind of a business you own and operate, whether it sells products or services, whether it’s lifestyle or technical, whether it caters to men or women, whether it’s online or bricks and mortar, whether you’re a solopreneur or you do or intend to hire a huge team.

You have to get these three things right.

Read More

What Competitive Advantage?

I live in Perth, the capital city of Western Australia.

It’s no secret that we have a terrible public transport system, and our roads are clogged. So if you don’t want to drive, you tend to leave public transport and look for a taxi.

Now if you run a taxi business, you are almost in a monopoly. There are only a handful of taxi companies, most contract self-employed drivers. The taxis are licensed by our State Government – that means they regulate how many licenses are available at any one time, supposedly through a needs basis (but ask any Perthite and they’ll tell you the taxis don’t meet the demand).

So if you did run a taxi company your competitive advantage is the fact that there are a limited number of competitors and that there was a high barrier to entry into the industry.

So, you create strategies around that competitive advantage. Your strategies might include better advertising that others, better technology to get your cabs there first, more efficient cars to reduce operating costs, and so on.

So what’s wrong with this picture of strategy creation?

Uber. Read More

How To Implement Your Plan Successfully

If you’ve been following my blog posts, you’ll have seen that I have given you systems to prepare your business plan, along with implementable tools and procedures to move from a compelling vision to actions.

Yet, I still get many questions about how you actually implement your plan successfully. People tell me that while they have followed my training and been able to create practical business plans, the difficulty is in keeping up momentum when they start to implement the plan.

In order to keep up the momentum weeks into the implementation, you need to be able to “see” where you are up to and what you have achieved. That way, you are able to gauge your success, adjust accordingly, and quickly understand what is your next step.

So what’s the secret? Read More

Begin With The End In Mind

Do you wonder how some people seemingly rack up win after win, complete project after project, apparently unswayed by detail and interruption?

Have you watched these people achieve goal after goal exactly as they set out to do and wondered what their secret was?

It’s because they set out with a very clear objective, and vision of what the end looks like. Stephen Covey (The 7 Habits of Highly Effective People) called it his second habit “Begin with the end in mind.”

If you have a very clear picture of what the end should look like, it resolves so many problems along the way. If you know exactly what you want at the end, the answers to questions about detail like “who should be involved,” or “who do we hire out of these choices,” or “which option is the best” all become clear because you know exactly who you need in your team to put it together because of the skills you need; what type of person to hire to best suit the way it is to be managed at the end; and which option – despite the cost – best meets your objectives most efficiently.

A vision of the end not only sets the goals, but because you are so clear on what it looks like, also establishes the correct process of getting there, because anything that doesn’t or isn’t likely to get you to exactly the right place is out. Read More

Keep Getting Value From Teik Oh Dot Com

This week is not a how-to article or video.

I just wanted to take some time out and announce new ways for you to keep getting value from my website, teikoh.com

 

 

You can register your name and email by clicking here. I promise that I will not give your details to anyone else, I hate spam as much as you do. However in return you will get from me weekly free tips, tools and resources on how to grow your business, sent directly to your inbox to read or watch at your own time.

You can also go to my courses page by clicking here and check out what courses are available to help you grow your business. Most of my online courses are “in real time” workshops so that we work together to start your business, or prepare your marketing plan, or prepare your business plan, or get yourself productive.

You can also go to teikoh.com and check out all the free downloads that will help you grow your business.

If you haven’t started a business yet and you want to, but it’s all getting confusing and overwhelming, why don’t you get my business startup checklist here.

I hope you’ll keep coming back for more!

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