Successful Entrepreneurs

AJ Kulatunga

Successful Entrepreneurs – I recently visited the Western Business Accelerator and Centre for Excellence (BACE) and had the pleasure of experiencing a presentation by AJ Kulatunga, Keynote Speaker and Consultant on Entrepreneurship. The topic was around the distinctions between providers, business owners and entrepreneurs and how serial entrepreneurs turn their ideas into outcomes.

1. Successful Providers Focus on Sales

When you start off in business you are at the lowest level called the provider which means you provide a product, or service in exchange for money or sometimes contra deals.

The focus of a provider is to make sales.

Once you start making sales as a provider it means you have a confirmed idea in the market place.

The key to your success in business is a confirmed idea in the market place

2. Successful Business Owners Focus on Efficiency

Once you get enough demand and sales you transition up to the Business Owner level. So by now you have buyers for your products and services and at this point you need to focus on improving efficiency. If instead of focusing on improving efficiency you are still focusing on sales year after year then you are still a provider. At the business owner level you have resources like staff or outsourced partners to cater for the increased demand and the focus must be to focus on improving efficiency. This is also where you must be very efficient at improving your marketing assets like your website and marketing collateral. It is also important to focus on operational policies and procedures.

3. Successful Entrepreneurs Focus on Turning Ideas to Outcomes

Once you’ve improved your business efficiencies, operational policies and procedures you now have a business. You have a business that you can step away from, in case you felt like taking that long overdue vacation, and come back to a business that is still running like a well oiled machine. Now you can focus on moving up the next level of Entrepreneur.

An entrepreneur’s main focus is to turn their ideas to outcomes

All entrepreneurs think in terms of turning Ideas into Outcomes however they realise that there are three types of barriers.

Internal barriers

One example of an internal barrier include that little inside voice inside your head. It is important to have an insane belief in yourself to do amazing things and increase the size of the context that you have for your life.

External barriers

Examples include other people, finances, legal, demographics or geographic. Learn to articulate your ideas so other people will become missionaries for your idea.

Bad Idea

The final barrier to turning your ideas into outcomes is if you have a bad idea. Even if you managed to burst through your internal and external barriers if your idea fails to deliver value to your buyer with credibility and integrity then your final outcome will not be successful.

Entrepreneurship is about smashing down all these barriers. Seasoned entrepreneurs know how to take their ideas and burst through these barriers to produce an outcome. It takes someone with an Entrepreneurial Mind to take ideas into outcome.

I really enjoyed AJ’s style of presentation. It was engaging, fun and thought provoking. The common thread in the business coaching and training workshops I’ve attended lately is for me to focus on delivering great value to my clients by increasing sales. Another thread AJ discussed was the difference between commodity markets and value markets. I’ll write a separate post on the distinctions between commodity, intermediate and value markets over the coming week.

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