MPowerment Matters

Entrepreneurs and Innovators

March 2007

It is interesting what you learn when you experiment a bit. I guess that is the point of experimenting. In any event, last month's newsletter seemed to strike a chord with a bunch of readers. Perhaps it was the fact that it was different, or perhaps it was because the content was diverse, or maybe it was due to the fact that there was no lengthy article to read and absorb. Whatever the reason, I am going to stick with what worked, and perhaps even liven things up a bit more. My discovery process continues. I know that entrepreneurs and innovators are always looking for the next idea, the next project, the next leap forward. That is in our nature. But let's take a brief step backward and review some basic principles.

Let me start off with a couple of easy questions to which everyone knows the answer. Sort of a warm up..

What is an entrepreneur?

Someone who, through creativity, innovation, foresight, focus and discovery can visualize how ideas can be turned into commercial opportunities


Someone practical who sees how something already in existence can be made better or cheaper or with different features, and exploits opportunities for making money successfully
Clearly, there are two different models at work in a) and b), with two different sets of competencies, yet the result is the same. How about that? And to complicate it a bit more, either of those models works even if you are working within an organization for someone else.

In any case, entrepreneurship is like a healthy virus that infects the soul and the heart and the mind. It starts as the desire to see something different, something better, something new, come out of our efforts. It inspires a vision of a different world, or a different way of living in our world. It blossoms into a passion to create and grow, and yes, profit; and sometimes it explodes beyond the boundaries of logic, reason and sanity. And when it does, we don't care. What a feeling!! What a ride!

Why is innovation important?

Innovation is important because:

The marketplace is always changing and if we are not innovating and changing we are getting further and further out of touch with the needs and desires of the marketplace.


It should be an element within the culture of every organization and it should be led by management and should be expected of and practiced by every member of the organization.


It is one of the keys to having a future.
Assessment tools can be very useful in measuring the effectiveness of the organization or individuals within it. They are an investment on which a huge return can be gained if the results are used correctly, followed up upon and used as the basis for needed change. Management Mpowerment Associates offers a wide variety on instruments, to measure, among other competencies, innovation.

Law firm tip: Succession planning is just as critical in a law firm as it is in any business. Managing partners need to have a vision for the future and a plan to lead the firm there. Who are the next leaders going to be and what needs to be imparted to them to get them ready? Do they share the vision? Understand the obstacles? Have the competencies to overcome them? A succession plan should be part of every firm's strategic plan.

Health care issue: One of the continuing issues of import in the business community is customer service and what it truly means to be customer-centric. Many physicians and health care providers have somehow considered themselves exempt from this. Hey folks, wake up!! If your reception or nurse, or even you, are rude, unfriendly or unhelpful, you will lose business. Have you done a check to see how easy you are to do business with? You might be surprised.

Suggestions for the Month

Books for your consideration this month:

The Visionary's Handbook by Jim Taylor and Watts Wacker

The Deviant's Advantage by Watts Wacker and Ryan Mathews

Flow -The Psychology of Optimal Experience by Mihaly Csikszentmihalyi

Banker to the Poor by Muhammed Yunus

Made to Stick by Chip Heath and Dan Heath

Go Put Your Strengths to Work by Marcus Buckingham

I can't guarantee that any of these books will change your life, but I will guarantee that each one will give you plenty to think about and to question. In particular, The Visionary's Handbook has had me doing some tossing and turning.

You are not alone in the universe. Whatever your interest, there are people discussing it in a blog somewhere. Noodle around on the internet and you will discover all sorts of wonderful, whacky discussions to engage you. Check out

www.icerocket.com

www.tcup.currentform.com

www.sethgodin.typepad.com

www.madetostick.com/blog

www.workhappy.net

http://bizzbangbuzz.blogspot.com

www.startupspark.com

Websites to look at long and hard include:

www.stumbleupon.com

www.spamcop.net

www.dodgeball.com

www.radaronline.com

www.kalivo.com

www.wolfgangsvault.com


Until next month...