Simpler the Better

If you can’t explain it simply, you don’t understand it well enough – Albert Einstein.

When Entrepreneurs are asked to describe their product or service, they sometimes go into great details to explain how something works. In their opinion, the more complex it sounds the more important the idea.

It is actually the opposite. The simpler the description of your product or idea, the easier it is to understand. If a potential investor can grasp your idea immediately, their interest is perked and they might listen to more. If you lose them with complexity, their attention span is over.

This is also true for all stakeholders. Entrepreneurs should make their message simple when communicating change. Simple messages get accepted a lot faster than complex ones.

As Einstein notes, it is possible that Entrepreneurs don’t understand the product, service or idea well enough to explain in simple terms. If so, it is time to go back to the drawing board and learn what you are trying to explain so you can make it simpler to communicate.

Ravi Patel

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Published in: on October 30, 2018 at 4:30 am  Leave a Comment  
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Hiring Smarter People

Entrepreneurs must hire people to grow their companies. What kind of management leaders do they hire? Who should they hire? Is that appropriate?

In order to keep costs down, there might be a tendency to recruit lower-cost managers who might require a lot of supervision. Is this keeping costs down in the long run? Is the Entrepreneur’s time well spent in managing such managers?

Entrepreneurs should not be afraid to hire people smarter than they are. Hiring smarter people might be tough on the ego and wallet, but in the long run the company will be much better for it. In fact, hiring smarter people will provide the opportunity to not only learn from them, but also allow the Entrepreneur to focus more time and energy on his/her areas of strength.

Do the Right Things!

Ravi Patel

Published in: on October 23, 2018 at 4:45 am  Leave a Comment  
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Short Yet Effective in Your Communications

Do you believe that to effectively communicate your message you need to use more words? Is using too few sentences reducing the importance of your communications? Is being verbose mean you are saying something important? If you think so, you might be wrong!

Effective communication means driving home your point powerfully in as less words as possible.

People have a very short attention span, especially potential investors. If you can’t communicate your message succinctly yet powerfully, you might lose your audience. That is not a good thing for Entrepreneurs.

Regardless of your target audience – investors, clients, employees, vendors, bankers or others – learn to fine tune your message. Make it short and simple, yet effective for them to understand and retain. The longer you speak or write, the less is absorbed.

People will not say that you didn’t speak long enough, but they will definitely tell you that your message was short but effective. What would you rather prefer?

Ravi Patel

What is Success?

Success means different things to different people.

When Entrepreneurs start and build businesses, their definition of success is most often that of  “making lots of money,” or fulfilling their Mission. When they reach their desired level of this definition of success, then what? What about the process of reaching there?

Success is not only about making money or attaining wealth. Long term success should be judged by the degree to which you are enjoying health, love of family,  friendships, balance in life, and internal peace.

Evaluate your self-improvement, the number of people you have mentored, the lives in which you have made a difference, and the communities that you have benefited to gauge your true level of success.

Making lots of money of course, does help in reaching the road to success.

Ravi Patel

Published in: on October 9, 2018 at 4:45 am  Leave a Comment  
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Being Persistent

Frustration due to obstacles is common for all endeavors. The successful ones are those who keep on going and overcome obstacles.

Persistent is defined as continuing firmly or obstinately in a course of action in spite of difficulty or opposition.

How appropriate that an Entrepreneur be persistent to be successful? Facing difficulty, obstacles, discouragement, setbacks and even failures are nothing new for Entrepreneurs.

Entrepreneurs who come through even after facing challenges are the ones who have a laser focus on their Mission and can navigate a steady, persistent course without being unduly discouraged. The story about the spider weaving a web despite repeated failures comes to mind.

If you desire to succeed in achieving your Mission, be persistent! Your people will be inspired and support your efforts.

Ravi Patel

Published in: on October 2, 2018 at 4:39 am  Leave a Comment  
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