Monday, April 29, 2013

Entrepreneurship and The Art of Modeling

I was 17 and I had started my journey into the world of public speaking and writing. Instead of immediately working on my dreams, I decided to model past successes and failures. I decide to observe and learn from the best and worst in my field. 

To become an author, I firstly developed the habit of reading. Then I started reading books in different genres. I then decided which genre I wanted to specialize in.  It was personal development and then I read three hundred books in this specific genre.
To become a youth empowerment speaker, I studied the world’s best professional communicators. I made a list of the world’s top hundred professional speakers. Then I saw YouTube videos making a note about what was unique about each speaker.
Could you apply the same concept to Entrepreneurship? Yes, if you want to start a technology company, why not study the world’s top hundred technology companies.

You can study the life of the founders. You can also study how these companies got their funding, first employees and managed overall resources.

This will ensure:-

1.    You avoid making mistakes that have already been made. 

2.    You can capitalize on the things that have already worked for the successful companies.

Here is an excerpt from an article on the website about Howard Schultz and how he applied the Art of Modeling to learn from the coffee stores in Milan and then to make Starbucks a world class company,

 'In 1983, Starbucks sent Schultz to Milan for a housewares show. During that visit, he experienced the Italian coffee bar culture. This Italian ritual of drinking coffee and socializing intrigued Schultz. ‘Coffeehouses in Italy are a third place for people, after home and work. There’s a relationship of trust and confidence in that environment’. Schultz discovered that there were 200,000 coffee bars in Italy, with some 1500 in Milan alone. He became fascinated with the idea of bringing such a concept and culture to the USA. ‘The connection to the people who loved coffee did not have to take place only in their homes, where they ground and brewed whole-bean coffee. What we had to do was unlock the romance and mystery of coffee, firsthand, in coffee bars’. ‘Coffee bars are the mainstay of every Italian neighborhood’, he said, ‘That’s what I wanted to bring back to Seattle’.

Often we think that we have to make mistakes to learn the best practices. But by modeling the best and the worst in your field, you can now do smart work and save time. 

This can be done by avoiding making the same mistakes that have already been repeated several times by entrepreneurs in the past. And remember time is much more valuable than money, because even all the money in the world cannot bring you back lost time.

The Art of Modeling helped me develop a world-class mindset and it can help you become a world-class Entrepreneur.

Let us Learn Together

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