10 insights for building a self-sustaining business, with derek lidow

we help you discover smarterways to think, grow, and live.

This presentation consists of 10 highlights from the interview with Moe Abdou,

founder & host of 33voices®.

Derek LidowDerek Lidow is a longtime global CEO, innovator and entrepreneur. Among other accomplishments, Lidow is widely-known as one of the world’s top experts on the electronics industry; his contribu-tions range from patents to value chain applica-tions that have forever improved companies as diverse as Sony, Samsung, Philips, Goldman Sachs and IBM.

Today, Lidow teaches Entrepreneurial Leadership and Creativity, Innovation and Design at Princeton University. He keynotes on the subject of startup leadership. And he is a media commentator; Lidow’s coverage to date includes The New York Times, Wall Street Journal, BusinessWeek, Forbes, Bloomberg, The Economist, Nikkei, Reuters, and Taipei Times as well as many top bloggers.

@DerekLidow

1

It’s the entrepreneur, not the idea that leads an enterprise to success.

People make things happen.

2

As an entrepreneur, the most important question you should be asking at the outset

is ‘who’s going to help me?’be wise and hire generalists early on.

2

As an entrepreneur, the most important question you should be asking at the outset

is ‘who’s going to help me?’be wise and hire generalists early on.

3

The key metric for your entrepreneurial success will beyour ability to get your company to the point where it’s self-sustainable.

4

As the entrepreneurial leader, your highest priority is inspire your team to action

while being agile enough to pivot and change roles as necessary.

5

To excel as an entrepreneurial leader, hone these five essential skills:

5

To excel as an entrepreneurial leader, hone these five essential skills:

Self-awareness - your motivation, skills & traits.

5

To excel as an entrepreneurial leader, hone these five essential skills:

Enterprise Knowledge - Project, process & culture.

5

To excel as an entrepreneurial leader, hone these five essential skills:

Relationship Building - shared objectives & understanding.

5

To excel as an entrepreneurial leader, hone these five essential skills:

Motivating Others - Inspiring Action.

5

To excel as an entrepreneurial leader, hone these five essential skills:

Leading Change -Staying Relevant.

6

Until you get your first customer, everything you do is a project.

After your first customer, its all about your process.

7

People will feel and perform at their best when they feel autonomous, masterful, and purposeful.

create the environment.

8

The maturity of your entrepreneurial venture

will follow these four stages:

8

The maturity of your entrepreneurial venture

will follow these four stages:Customer Validation -

customers buy your product.

8

The maturity of your entrepreneurial venture

will follow these four stages:Operational Validation -

your ability to deliver deliver your product and attract new customers.

8

The maturity of your entrepreneurial venture

will follow these four stages:Financial Validation -

Making a profit.

8

The maturity of your entrepreneurial venture

will follow these four stages:Self-sustainability -

Staying relevant.

9

The entrepreneurial leader who’s creating shared objectives

is following these four tenets:

9

The entrepreneurial leader who’s creating shared objectives

is following these four tenets:Positioning people to do only those things they can succeed at doing.

9

The entrepreneurial leader who’s creating shared objectives

is following these four tenets:Accepting responsibility for the success of every working relationship.

9

The entrepreneurial leader who’s creating shared objectives

is following these four tenets:Not letting people who do not trust one another work for one another.

9

The entrepreneurial leader who’s creating shared objectives

is following these four tenets:Delegating responsibility and holding people accountable for their results.

10

Your chance of gaining a successful hire are increasedif you can be very specific about the skills you need and testing for them.

Who do you need on your team for your company to be self-sustaining?

REALLY REFLECT

Connect WITH US!

Tell us what you thinkChase@33voices.com