Early-stage business theater and fantasy are a culture epidemic.
These days everyone is an entrepreneur. It is akin to the ubiquitous teenage ambition of the 1980’s to become a rap recording artist. Relatively few entrepreneurs will complete the journey out of the early ‘experimental’ stage and into growth mode. Most spin relentlessly, expending resources and drawing in people & energy in the process. In fact, there is no appreciable likelihood of success reported today vs 30 years ago, despite dramatic growth in resourcing of all types. As a result, investment made in the early-stage frequently offer extraordinarily low returns on investment. Economic progress & innovation are hindered.
Activity is not the same as progress. Information is not the same as competency.
The serial learners club
Ubiquitous classroom sessions, workshops, speakers and events offer emerging entrepreneurs an overwhelming and distracting array of information. This is so much so that the pattern of ‘Learn. Forget. Repeat.’ is practically universal (See the Forgetting Curve below). Entrepreneurs need to shift their information consumption pattern to one that offers just-in-time learning through a process of 'Learn. Do. Grow. Repeat.’ in a pattern that develops progressive & applied competency and eliminates the hectic cycle of overwhelm & spin that has taken hold and is masquerading as progress.
The Forgetting Curve: Over 90% of learning is typically purged from memory within 72 hours.
Mindset + Skillset
If the overwhelming information flow masquerading as the key to entrepreneurial success isn’t a big enough challenge, than the absence of directed growth in the mental & emotional maturity necessary to take up the challenge of successfully entering competitive markets is enough to subvert even the most enthusiastic starter.
The entrepreneurial journey fundamentally requires the development and expression of particular mindsets in equal measure to skills unique to this path. Harnessing fear, challenging the status quo, enrolling others, being resilient in the face of relentless obstacles are but a small fraction of the emotional progress so often stagnant and overlooked.
Knowledge is not enough: Progressive, applied growth in both functional and emotional arenas is essential for creating lasting successful outcomes.
As entrepreneurs we must recognize that regardless of how much information we have - we can't solve the difficult problems at the same level of thinking at which they were created. Sustainable progress can only be made when we expand our entrepreneurial quotient (EQ) - the three mutually entailed ingredients of mindset, skill set & action orientation. Now is the perfect time to 'Learn. Do. Grow. Repeat.’
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