An "Assumption” is where you believe something to be true, but it is yet unproven while a “belief” is something you are certain is true. As a small business owner, you should always challenge a belief and treat it as an assumption because your beliefs may not be facts.
Most guides on building a business involve the same sort of rehashed content. The thing is a lot of these pieces of advice aren’t true. They’re either misinterpreted by the new entrepreneur or they’re completely wrong.
One of the problems with obtaining any kind of knowledge, especially when it comes to business, is that while some kinds of knowledge can be easily codified and articulated to others (Explicit Knowledge), there are also some forms of knowledge that are much harder to pass on and must be experienced (Tacit Knowledge).
Business owners too often confuse cause and effect and expend significant effort solving the wrong problems. A tool that can help business owners to separate cause from effect is known as a fishbone diagram.
The people that reside in your inner circle of friends can profoundly influence your success in life and business. To be a successful entrepreneur, you need to evaluate the company that you keep to see if it is aiding in your success or hinder it. Are your Friends preventing your success?
Conventional business advice is that in order to have a successful business you need to write a business plan. However, did you know that the simple act of writing a business plan can often lead your business to fail?
Recently, I was speaking at a local community college about the value of an entrepreneurial mindset. While there, one student asked me, “How important do you think a college degree is to becoming a successful entrepreneur?” The question was a bit awkward since I was the guest speaker with no college education and there were […]