Not all heroes wear capes, some write books. The books Gino Wickman has written are directly responsible for helping me to create multiple million dollar businesses, become a better leader and find balance within my personal and professional lives. Today we discuss his latest book, the Entrepreneurial Leap, and how we apply those lessons to the hospitality industry.
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SHOW NOTES
- Writing Entrepreneurial Leap
- Did not become an entrepreneur until he was 29
- Wants to show others the opportunities available to them
- The book is in three main parts
- Finding out if you are an entrepreneur
- Discovering opportunities
- Creating a path to success
- Hospitality workers are running a business within our businesses
- Success of their micro-business means greater success for your business
- 6 essential entrepreneurial traits
- Gino offers an assessment online to discover if you have these traits
- Allow your staff to take the quiz if you are comfortable with them taking their own entrepreneurial leap one day
- Can be the best employees in the hospitality industry if they stay
- Entrepreneurs are generally unemployable
- Advice for leading leaders
- Lessons from a book called Drive
- Give autonomy
- Provide guidelines and rules but otherwise, let your team have ownership of their work
- Allow mastery
- Give them the opportunity to learn the business
- Make your staff member feel part of something bigger than themselves
- The bigger the problem you solve in the world, the more successful you will be
- Get close to the ground and know your customers’ needs
- Know your customers better than they know themselves
- Evolve to the new needs of customers as the world changes
- 10-year business cycles
- 2 great years
- 6 good years
- 2 terrible years when you almost go out of business
- In another ten years, something else will come
- The power of 10-year thinking
- Have a 10-year goal but not in great detail
- Learning to take action whilst being patient
- 8 critical entrepreneurial mistakes
- Not having a vision
- Not spending time with your people
- Not knowing your customer
- Not staying true to the core
- Not knowing your numbers
- Not crystalizing roles and responsibilities
- Hiring the wrong people
- Grabbing the closest people to you is not a good strategy for hiring
- Make sure people are in alignment with your core values
- Make sure they have the right skill set for the job
- Not charging enough
- Psychological mistake
- Insecurity/lack of confidence
- Many businesses barely break-even in the first 3 years
- Advice
- TED Talk by Casey Brown
- Tip from Dan Sullivan – Pick a number that scares you, then add 20%
- There are many free resources on the e-leap.com website for budding entrepreneurs
- Who inspires Gino
