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Innovative business ideas come when you marry imagination, passion and faith.

 

 

 Innovative Business Ideas: Imagination

Let’s start with imagination. Napoleon Hill, author of Think and Grow Rich, refers to imagination as the workshop of the mind. Merriam Webster dictionary defines imagination as “the act or power of forming a mental image of something not present to the senses or never before wholly perceived in reality”. In short, it means the ability to visualize something before it becomes reality. Innovative business ideas come from this imaginative ability.

 

Innovative Business Ideas: Passion

Passion is the emotional fuel behind all innovative business ideas. When entrepreneurs are passionate about their projects, they love doing it. When they love doing it, they are better at it. When they are better at it, they are more innovative and creative toward accomplishing their objectives. This is especially true given that innovative project or thinking will meet many stumbling blocks prior to profitable adoption. Innovative business ideas will not be innovative is not for passion

 

Innovative Business Ideas: Faith

Faith brings it all together. Merriam Webster defines Faith as “something that is believed especially with strong conviction”.  Of course, the bible defines faith as the substance of things hoped for, the evidence of things not seen (Hebrews 11:1, KJV)”. As noted above, a project will experience stumbling blocks and setbacks prior to profitable adoption.

 

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The perfect example of entrepreneurship comes into play when you marry an economic need with an entrepreneur who has the passion and knowledge required to meet that need.

 

 

According to Merriam Webster dictionary, entrepreneurship is defined as one who organizes, manages, and assumes the risks of a business or enterprise.  Ask yourself, why would individuals organize, manage and assume all of the risk of a business if they didn’t have a passion for that business.

 

Need or necessity is also a critical factor. When there is a need, there is a way. In the video, the speaker talked about how women in developing countries simply did what they had to do to  survive. This will include getting small micro-loans to start a business that meets the needs of their communities while providing much need jobs. This is the perfect example of entrepreneurship.

 

So, when you combine passion with a need, you have the perfect example of entrepreneurship. The need represents the economics and profitability of the business and the passion provides the emotional fuel entrepreneurs need to persevere during the inevitable struggles that will ensue. The rest is just a well thought out business plan and the effort required to bring such plans alive.

 

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Be sure that your entrepreneur project is a reflection of your passion

PASSION is king. The most successful entrepreneurs are entrepreneurs who are doing what they love. DO WHAT YOU LOVE AND THE MONEY WILL COME.  From a business standpoint, DO WHAT YOU LOVE and OUTSOURCE THE REST. Generally, you are best at what your love to do. So, the final focus will be DO WHAT YOU DO BEST and OUTSOURCE THE REST. This should be the primary focus of your entrepreneur project.

 

Your Entrepreneur Project

This is key to building an extremely profitable business and running a successful entrepreneur project …. while having the time to have a well-rounded life.  It’s an extremely efficient success model because you spend all of your time doing what you do best and what you love to do. As a result, you will be very motivated to do your best and put forth your best work, without getting bogged do with administrative functions or non-core that doesn’t fall into to the category of doing what you love.

 

On the other hand, when you outsource your non-core function to others, you outsource those functions to someone who is doing what they love and are passionate about. As a result, you will get their best work and your business will run like a well oiled machine.

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Do you meet the test of true entrepreneurial motivation?

 

The video tells the story about entrepreneurial motivation. Napoleon Hill, author  of Think and Grow Rich, sums it up in the following quote: “what a man mind can conceive and believe, it can achieve”. 

Entrepreneurial Motivation

Of course, this is definitely easily said than done where you have to meet this test of entrepreneurial motivation.  So, how strong are your beliefs.  How strong are your convictions.  As you start down the road toward meeting your objectives, are you ready  for the inevitable roadblocks, failures, disappointments that is GUARANTEED to come your way? Having the right entrepreneurial motivation is key to plowing through the road blocks.

Steven Covey, famous author of 7 Habits of Highly Effective People, noted that you life is an endless chain of stimulus and responses. The stimulus is what happens to you or what you experience throughout life. Response refers to how you respond.  You cannot control the stimulus.  Life happens. But, you can control how you response to each stimulus. How you response will be 100% indicative to your entrepreneurial motivation.

In fact, how you respond will determine the direction of your life? It will determine your character, your maturity level, your personality, your temperament and whether or not you meet the goals you set for yourself.  Relative to goals, as the video points out, regardless of what you are looking to accomplish, you will have to string of negative stimulus, in multiple forms, and your success is 100% determined by how you respond to the stimulus. Your entrepreneurial motivation is 100% determined by how you respond.

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Having the right entrepreneurial mindset is as simple as changing your thinking

entrepreneurial mindset

Napoleon Hill, author of Think and Grow Rich, summarizes how to have the right Entrepreneurial Mindset in a very simple quote:

 

Napoleon Hill coined the following quote: “whatever the mind of man can CONCEIVE and BELIEVE it can ACHIEVE.” 

He then backed up this quote with six practical steps that can easily be referred to as the entrepreneurial mindset:

 

  • First:  fix in your mind that exact amount of money you desire.  It is not sufficient merely to say “I want plenty of money.”  Be definite as to the amount;
  • Second: determine exactly want you intend to give in return for the money you desire (There is on such reality as “something for nothing.”);
  • Third: establish a definite date when you intend to possess the money you desire;
  • Fourth: create a definite plan for carrying out your desire, and begin at once, whether you are ready or not, to put this plan into action;
  • Fifth: write out a clear, concise statement of the amount of money you intend to acquire, name the time limit for the acquisition, state what you intend to give in return for the money, and describe clearly the plan through which you intend to accumulate it; and
  • Sixth: read your written statement aloud, twice daily, once just before retiring at night, and once after arising in the morning.  As you read — see and feel and believe yourself already in possession of the money

 

Step 6 is the most important because it reinforces the notion of “believe” and “achieve.” With this in mind, when you effectively apply these six steps to your entrepreneurial goals and objectives, it’s safe to say that you have the right entrepreneurial mindset.

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