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MINDSET

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Ways to improve yourself to a good entrepreneur

  • Proactively expose yourself to new opportunities
  • Take action on the things that really matter - even you're not in the mood
  • Always take the future perspective into consideration and improve yourself
  • Point yourself in the right direction - even by doing small steps
  • Retrain your mind to enjoy being wrong
  • Always reassess priorities and don't be afraid of changing them

Things you need to take care of

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  • The quality you deliver is in the core
  • Therefore it's necessary to keep track of your assets and workforce to provide the best fitting service
  • To do that you need to forecast sales or inventory to always being able to satisfy your customers

How to treat other people: "How to win friends and influence people" by Dale Carnegie

Fundamental Techniques in Handling People

  • Don't criticize, condemn or complain
  • Give honest and sincere appreciation
  • Arouse in the other person an eager want

Six ways to make People Like you

  • Become genuinely interested in the other person
  • Smile
  • Remember that a person's name is to that person the sweetest and most important sound in any language
  • Be a good listener. Encourage others to talk about themselves
  • Talk in terms of the other's interest
  • Make the other person feel important - and do it sincerely

How to win people to your way of thinking

  • The only way to get the best of an argument is to avoid it
  • Show respect to the other person's opinion. Never say "You're wrong!"
  • If you're wrong, admit it quickly and empathically
  • Begin in a friendly way
  • Get the other person say "Yes, Yes, Yes" immediately
  • Let the other person do a great deal of the talking
  • Let the other person feel that the idea is his or hers
  • Try honestly to see things from the other person's point of view

How to change people without giving offense

  • Be sympathetic with the other person's ideas and desires
  • Appeal to the nobler motives
  • Dramatize your ideas
  • Throw down a challenge

"Impatience with action, patience with results" - Naval Ravikant

  • Start something right now, don't wait
  • But don't expect results right away

General Characteristics of an Entrepreneur

Great Entrepreneurs ...

  • are like artists - they move people beyond their logic
  • don't seek approval, but the truth
  • willingly identify and tackle company risks
  • are antifragile - they get stronger under pressure
  • —> As a founder the most important thing is to find the truth and not to push your ego
“10 companies out of 10,000 every year create 95% of the value in the startup business. It’s incredibly rare to have a combination of an awesome insight, an incredible startup team—that’s like a jazz band with a composer running it —who can persuade the world to join their movement, and then create a super compelling value proposition.” – Mike Maples

Ask for what you want!

“Being willing to ask for what you want and be somewhat aggressive are fundamental characteristics of being an entrepreneur” – Sam Altman

How is the human being actually working? - "The Psychology of Persuasion" by Robert Cialdini

  • Consistency: people tend to be consistent with things they said before
  • Consensus: desire to follow the group or person who are like you
  • Authority: desire to follow the expert or being subconsciously impressed by money or titles
  • Similarity: e.g. business decisions are based on someone's similarity with us
  • Reciprocity: the human need to return a favor
  • Scarcity: desire to have things that are rare

© Chair for Strategy and Organization, Technical University of Munich

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