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9 entrepreneurial leverages (explained)

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9 entrepreneurial leverages of a Successful Entrepreneur. Long Explained version.
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  • 1.9 leveragesexplained9 leverages of a Successful Entrepreneur Ilkka O. LavasSuccessful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

2. How would you define Success?Successful Entrepreneur Ilkka O. Lavashttp://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 3. How would you define Success? Success is not a destinationsuccess is a journeySuccessful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 4. 1. Define what Success means to youStep 1 Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 5. My definition on SuccecssMy definition on success:1) I can do what I am good at and what I enjoy2) I feel enough challenge in my projects and businesses. I can work with the people who are more skilled than I.3) My family and kids are feeling good4) I learn new things and develop personally5) Change the world: My life can give positive affect to my fellows, my friends, the City I am living in, Finland, Europe and World.Notice:SUCCESS FOR ME DOES NOT MEAN MONEY!Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 6. Step 2. Think what could be your ownSuccessful Entrepreneurial leveragesArchimedes once stated:If I had a lever long enough I could move the world. Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 7. 3. Learn from the bestThink about your idols:Whay are their leverages in life?What are they passionate about?What are their success factors? Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 8. 9 leverages of my Successful Entrepreneurial Life1. Team Entrepreneurship2. Digital distribution3. Digital marketing4. Team Entrepreurial Partnerships5. Strategic alliances6. Searching for long lasting customerships7. The essence of delegation8. Multiple companies somehow related to my skills (IT, business, marketing)9. I keep myself in good fit mentally and physically. I want to learn new things all the time. Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 9. 1st leverage: Team EntrepreneurshipSuccessful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 10. 1st leverage: Team Entrepreneurship Multiple Academic Studies have noticed and underlined,that successful growth enterprices are run by team of 3-5members. Networking:In 2005 I started to discuss with entrepreneurial peopleabout startups. I have met hundreds entrepreneurs andasked them to contact me if they have an idea where theythink that I can help with my IT, marketing, business andInternet skills. Business plan analyzing:I have analyzed more than 20 business plans every year.Many are crazy, many are too small. Some dont even havea proper plan yet, only a idea without calculations. Some ofthem I helped. With some of them I have started up acompany.Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 11. 2nd leverage: Digital distribution Most of my companies are on IT field and we can usedigital distribution as a leverage I can use Slideshare to tell you these things I can distribute dictionary over the web: i.e.www.mydictionary.pro , this was not possible 20years ago. I can distribute online shopping catalogue in form ofeshop i.e. www.suomikauppa.fi Think if you can use digital distribution as a leverage Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 12. 3rd leverage: Digital marketing Buying advertising space in magazines is veryexpensive Conversion rates from printed magazines toonline are low Think how you can use digital marketing as aleverage Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 13. 4th leverage: Team Entrepreurial Partnerships Team Entrepreneur Partners in my businessesconstist of:Business Angels, Professional Directors, CustomsSoftware professional, Software Hosting professional,talented Software developers, Internet Marketingspecialists, BIM specialists and professionals,Financial Geniouses, Watch Enthusiastic I have 10-100% ownership of my companies. A total66 people working in these companies and a totalrevenue of 5 Meur. Dont get greedy. Give shares for your partners whenthey can give value to the business and help it growfaster than you could yourself. Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 14. 5th leverage: Strategic alliances Sometimes business partner or contractor can giveyour business leverage that will be competitive edge. That may be relations, contact, infrastructure oranything You should not compete if you dont have abilitity tocompete Think if there are some strategic alliances that canhelp you grow your business faster. One of yourcustomers maybe? Can you transform your contractor to be your saleschannel? Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 15. 6th leverage: Searching for longlasting customerships You should always look for win-win-winsituations where: You win Your customer Wins Endcustomer Wins Only winwinwin customerships will lastforever. Sell once and make sure you create value Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 16. 7th leverage: The essence of delegationNo-one is irreplaceable Even you should think yourself as non-irreplaceable. Lead and develop your business to survive without you. Test: Take 5 week vacation and let your people run yourcompany. Turn off your telephone and let them develop yourbusiness better than you could ever lead. Stop thinking: If I do it myself, it will get done right. I always know what needs to be done. I do everything anyway, so I dont need help. DELEGATE AND TRUST!Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 17. 8th leverage: Multiple companiessomehow related to my skills (IT, business, marketing) When you have more companies in different business sectors,some of them are growing when others are not. Business portfolio is more stable Companies have synergies, one can help each other I can help companies to grow faster with my network I invest in businesses that can find leverage on IT field and where I can give knowledge of my IT experience and wisdom from my networks sweat equity or equitySuccessful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 18. Business portfolio 1. Lavasdesign Oy investment, it consulting, startups andentrepreneurshipeCommerce,InternetCustoms InternetW3 Social3D-Cad / marketing declaration Spam andportalGroupshoppingBIMand logistics softwareVirus businessFinlandand CentSoftware companycompanyprotectionesOyauction importIlmainensanaLaKo Trade Oy Samex Solutions Oycompany Suomikauppa.FISad-e.ficompany companyCTRL Service Oy /kirja.fi Software WanhatWarikset.co Micro Aidedsanakirjani.fi EMCS stockHintabingo OyNo Spam Service projects mDesign OyKaannos.comreporting software Karkkigalleria.fiTeam Entrepreneur Partners in my businesses constist of:Business Angels, Professional Directors, Customs Software professional, Software Hostingprofessional, talented Software developers, Internet Marketing specialists, BIM specialists andprofessionals, Financial Geniouses, Watch EnthusiasticI have 10-100% ownership of my companies. Total 66 people working in these companies andtotal revenue 5 Meur.At least in small markets like Finland, it is better to have many businesses running at the sametime. Businesses can be running on separate companies or in one company depending onownership/shareholder structure.Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 19. I keep myself in good fit me and physically. I want tonew things all the9th levSuccessful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 20. Listen to professionals Even if you dont believein tv-screen on youreyeglasses or peoplecheckin in to your shopwith gps enabledsmartphones. Listen tofuturists and think theseas possibilities to createnew business and new Photo (C) Engadgetvalue to your customers. Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 21. Entrepreneurial Tips and Tricks :Stay on track, keep your eyes openOnly thing that is sure about the future is thatthe future is different.Even I have heard people saying: 1996 TeleFax will never die. early 2000 I dont need email 1998 Disks will never die 2000 some bosses still saidI will not need mobile phone. Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 22. When you spend 8 hours doingsomething, you should be able enjoy it Most important thing in work life is to enjoywork and your achievements at work itselfgood feeling to You need to havego to work every day If you dont like your job or dont feel good atthe job: QUIT Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 23. We need more flow in our work Skill level Highvschallenge level Challenge level Low Low Skill level High Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 24. Things I learned The longer I live and the more I study, themore I learn that I know nothing. I can travel to Asia and Australia and Japan. Ican travel to 21 countries, but I still learn newthings even in my neighbourhood. I need to network with people who haveexperience in different fields than I. This leads to team entrepreneurship Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 25. Things I learned : I have seen nothingand I dont know anything I have experienced many adventures but thejourney is just in the beginning. I have storiesto tell and I have to say that the world is full ofwonderful things. The more I have travelledthe better I know that I have seen nothing.The more I am away from Finland, the more Irespect and love Finland. - Juha Viitala,owner of travel agency Mandala Travel Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 26. I have seen nothing. The more I travel, the more I love Finland., (C) Juha Viitala, Mandala Travel Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 27. Entrepreneurial Tips and Tricks: Prioritization and time management Teach yourself all the tips and tricks to Prioritize things Manage your time Discuss with your friends about: What time management techniques they are using Learn from the best Read books, go to seminars, find a mentor Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 28. Entrepreneurial Tips and Tricks :There are always other things to do I am member in 7 non-profit organizations, Ihave 2 kids, I have 2 motorbikes and I love toswim, travel and play golf. I need to prioritize! We people: have only 24 hours per day, whichmeans 8760 hours per year. Decide what you want to do with your life. Prioritize things I could work 80 hours per week but I dont.See my weekly plan (next slide). Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 29. My 168 hours per weekWeek scheduletime for my self, rest travel to w ork (perw eek)w ith kids and family being w ith friends sleepingother free time / sportsactive sports w atching moviesw atching tveating personal developmentw orkSuccessful Entrepreneur Ilkka O. Lavashttp://www.slideshare.net/ilkkalavaswww.ilkkaolavas.com 30. Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com 31. Successful Entrepreneur Ilkka O. Lavas, Successful Finnish Entrepreneurwww.ilkkaolavas.com Twitter (I tweet in english):http://twitter.com/#!/lavas Linkedin:http://www.linkedin.com/in/ilkkaolavas Blog about successful entrepreneurship in finnish:http://menestyvayrittaja.yrittaja.info/ My public facebook (mostly in finnish):http://www.facebook.com/ilkkaolavas Subscribe to my public Slideshare:http://www.slideshare.net/ilkkalavas Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

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