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Founder's Zone
In today’s world, with an idea and some ambition, you can create financial independence in five to ten years. We have access to fast and vast communication which allows for exponential growth if the right components are in place. My goal for this post is to give you some keys to social influence that can and will lead to a large network and large reward.
Why five to ten years? Some believe that it takes five years to become an expert in your chosen field. If you are already an expert then you might have a shot at financial independence in five years. If you are new to your industry it may take ten years. Five years to become an expert and five years of hard work with the right areas of focus.
Intention. Start with the end in mind. We have to agree that one of two things will happen in our business and the outcome is based on intention. We will either own our life and business or our life and business will own us. The result of intention is financial independence or financial dependency.
Strategy. Have a realistic plan, built from an unrealistic vision with resolute determination to do what most will say is impossible. Things to know about strategy:
1. Solve a problem. Look for a problem in the marketplace that is hard to solve with old common thinking and solve it with new revolutionary thinking. Stay in this area of strategy until you have it. Your good idea has a great chance of not making it, however your great idea has a good chance that it will make it.
2. Break it before you build it. Spend time tearing the idea apart from all angles. Make sure that it can be executed in the early and late stages. If you are able to break it, ask yourself, "Can I still survive and rebuild?" Will you be able to weather some failure?
3. Consider your current reality. What resources do you have and what resources will it take. Leverage relationships through strategic alliances and joint ventures. Create social influence and valuable digital real estate and trade it for your needs.
4. Mastermind. Surround yourself with diverse and experienced perspectives. Beware of looking at their ideas as right or wrong but more as a full perspective for you to carry the vision forward.
5. Strategic Plan. Go the distance and do the hard work up front to know where you are, where you are going and how you will get there. If you are already moving but don’t seem to get the traction you want or your business or career is stuck, dive into these same steps and make adjustments.
6. Steering. Finally, in order to steer you have to be moving. Be thoughtful in your planning but don’t be paralyzed by it. Move and move with purpose and intention as if you already know that you will achieve your vision.
Execution. None of us will achieve anything of significance alone. Not one leader has and knows everything that he or she needs in order to build significance. Here are some thoughts on execution:
1. Have a clear Mission and Vision with unwavering belief in it so those that come in contact will have faith to help move your mountains.
2. Have a Vision big enough that it can include the dreams and aspirations of the members of your team. Team member turn-over can often be attributed to lack of an inclusive vision.
3. Recruit and Empower a team that can think for themselves, honor the vision and own their responsibility in it as a way to achieve their dreams, not yours.
4. Excel in your strengths and develop them further. Help others excel at their strengths in the areas of your weakness. Each member is a part of a whole.
5. Know your key areas of focus and put most of your energy into what is important based on a critical path, goals and milestones.
6. Caution-Don’t abandon the execution of ideas to soon. Give them time to work but don’t stay too long if they are the wrong ideas.
Set Your Intentions
By Brett Labit, CEO & Founder, LIZ Global