Entrepreneurs Thrive On The Learning Curve

In today’s fast moving world of business startups, learning trumps knowing every time. What established businesses know through experience keeps them from looking for the new and innovative ways to do what they do better, cheaper, and faster.

I’m convinced that’s why most mature companies are slowing down or buying their innovation through acquisition, rather than building it.

In her new book, “Rookie Smarts,” Liz Wiseman, one of the top thought leaders in business, amplifies this point as it relates to hiring and cultivating the curious, flexible, youthful mindset in keeping a mature company young and competitive, as well as keeping experienced employees more productive.

RelatedArticles

Thailand’s automotive industry to get “responsible business” toolkit from ILO

November 29, 2024

Thailand’s M&A surges in Q3 2024 with record growth

November 25, 2024

Thailand’s Automotive Industry Showed Decline in September 2024

October 25, 2024

Nvidia plans Major Investments in Thailand Ahead of CEO Jensen Huang’s Visit

October 24, 2024

Excerpt from: Entrepreneurs Thrive On The Learning Curve

Persist, persevere, prevail. Experts say the prime cause of failure in business is quitting too soon. The successful entrepreneur never gives up, and uses creativity to overcome all obstacles, including personal, financial, and technical ones.

Define a business that is scalable

First, pick an opportunity that has a worldwide appeal, like eco-friendly products. Then implement automation on production and tracking so you don’t need hours of manual work on each order. Finally, use customer feedback or promotions to attract more and more customers with less and less effort.

Growing economy

Economically, this country of 67 million people is characterized by steady growth, strong exports and a vibrant domestic consumer market. Abundant natural resources and a skilled and cost-effective work force help attract foreign investors, and enable them to prosper and develop industry in Thailand.

The Million Dollar Idea, and how to make it work

Create a frequent forum for accountability. Unless we feel accountability, and see accountability on a regular cadence, it also disintegrates in the daily whirlwind. It’s even better if team members create their own commitments, which become promises to the team, rather than simply job performance. People want to make a contribution and win.