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1© Brian Tracy. All rights reserved. The contents, or parts
thereof, may not be reproduced in any form for any purpose without
the written permission of Brian Tracy.
Introduction
“Any intelligent fool can make things bigger, more complex and
more violent. It takes a touch of genius – and a lot of courage –
to move in the opposite direction.” (Ernst Schumacher)
Y our ability to learn and apply faster than your competitors
can be the key to sustainable competitive advantage in today’s
marketplace. Successful leaders and companies are those that are
continually developing faster, better, more convenient and cheaper
ways to satisfy their customers better than anyone else. Because
products and services are becoming obsolete at a faster rate than
ever before, you must position yourself ahead of the curve of
change and lead the field rather than leaving market leadership to
others. One good idea is all you need to leapfrog your competitor
in today’s marketplace. When you continually seek out ways to
position your products and services, and keep your company ahead of
your competitors, you develop the skills of entrepreneurial
leadership that guarantee greater possibilities and opportunities
in the future.
In this lesson, you learn some of the key skills of thinking and
acting practiced by the most creative and entrepreneurial managers
and leaders in every business. By applying these skills, you can
change the entire direction of your organization for the better,
and take firm control over your destiny.
In this lesson you will learn:
■ The most important single factor impacting your business■ Key
qualities for entrepreneurial leadership
■ Multi-variable approach to product improvement
■ Creative marketing and growth strategies
Sales ManagerGrowth StrategiesBy Brian Tracy
EntrepreneurialThinking
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2© Brian Tracy. All rights reserved. The contents, or parts
thereof, may not be reproduced in any form for any purpose without
the written permission of Brian Tracy.
What Do You Already Know?
Test your knowledge by attempting to answer the questions
below.
1. What is the purpose of a business?
__________________________________________________________________
__________________________________________________________________
2. What are the predominant characteristics of customers today?
__________________________________________________________________
__________________________________________________________________
3. How is entrepreneurial leadership different from regular
business management?
__________________________________________________________________
__________________________________________________________________
4. What do your customers consider value today?
__________________________________________________________________
__________________________________________________________________
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3© Brian Tracy. All rights reserved. The contents, or parts
thereof, may not be reproduced in any form for any purpose without
the written permission of Brian Tracy.
5. What customer needs are currently not being met in your
business or industry?
__________________________________________________________________
__________________________________________________________________
6. What changes or improvements could you make in your business
to satisfy your customers better?
__________________________________________________________________
__________________________________________________________________
7. How do your customers think and talk about you and your
company?
__________________________________________________________________
__________________________________________________________________
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4© Brian Tracy. All rights reserved. The contents, or parts
thereof, may not be reproduced in any form for any purpose without
the written permission of Brian Tracy.
Entrepreneurial Thinking
There are more opportunities for the creative minority of
entrepreneurial leaders today than have ever existed before.
The race is on! Products and services are becoming obsolescent
at a faster rate than ever before.
1 Change is the most important single factor impacting your life
and business today. 1) Information and knowledge are doubling every
2 to 3 years.
2) Technology is exploding in all fields. 3) Competition is
multiplying in all directions, causing “creative destruction.”
2 What is the purpose of a business? 1) The purpose of a
business is to create and keep a customer.
2) The purpose of marketing is to differentiate your product or
service from those of your competitors.
3 An obsession with customer service is the key to
entrepreneurial leadership. 1) You must satisfy your customers,
please your customers, delight your
customers and amaze your customers! 2) Customers today are
impatient, demanding and disloyal.
3) Customers are more knowledgeable, more sophisticated and more
skeptical than ever before.
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5© Brian Tracy. All rights reserved. The contents, or parts
thereof, may not be reproduced in any form for any purpose without
the written permission of Brian Tracy.
4) Rule number one in marketing is “the customer is always
right.” 5) Rule number two in marketing is that, “when in doubt,
refer back to
rule number one!”
6) The customer has to be the central focus of all decision
making.
7) Customers want the very best quality at the very best prices
and they want it immediately!
4 There are six key qualities for entrepreneurial leadership in
dealing with today’s customers: 1) Courage and boldness — they are
willing to take risks and to move out of
the comfort zone.
2) Perhaps the most important quality of all entrepreneurial
leadership is action orientation.
3) Creativity is the third key quality for entrepreneurial
leadership.
4) The fifth secret of success in the marketplace is to
continuously add value.
5) The sixth key quality of leadership is persuasiveness.
6) Persistence is what guarantees success in entrepreneurial
leadership.
5 Value Migration Strategy is the key to the future. 1) What
does the customer consider value today?
2) What are the trends? What changes are taking place in your
industry?
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6© Brian Tracy. All rights reserved. The contents, or parts
thereof, may not be reproduced in any form for any purpose without
the written permission of Brian Tracy.
3) Whenever something unexpected happens, ask yourself “could
this be the tip of an iceberg?”
4) What will your customer want tomorrow?
5) Follow the green. Where is the money going? What are
customers buying?
6) The keys are always to offer more, better, faster, cheaper
and easier.
7) The secret to success in business? Find out what your
customers really want and then give it to them, fast and fairly
priced.
6 An important key entrepreneurial leadership strategy is called
the “White Space Strategy.” 1) A good white space opportunity is
greater speed and faster delivery.
2) Make your product more convenient and easier to use.
3) Offer a greater range of choices, a wider variety.
4) Look at lifestyle factors. Which ones could you cater to that
could give you a whole new market opportunity?
5) It is the customer’s perception of added value that means
everything.
6) Improved customer service is another great white space area.
Make your services faster, friendlier and smoother.
7) Improved quality is another great white space
opportunity.
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7© Brian Tracy. All rights reserved. The contents, or parts
thereof, may not be reproduced in any form for any purpose without
the written permission of Brian Tracy.
7 Use the Multi-Variable Approach to product service
improvement. 1) The old model of product service improvement was to
change
one thing at a time.
2) The new model is to change three or more things
simultaneously.
8 Three entrepreneurial leadership strategies that you can use:
1) “Firstest with the mostest!” Use speed as a strategic
differentiator.
2) “Hit them where they ain’t!” Offer products or services that
your competitors are not.
3) “Dominate a market niche.” Become the best in serving a
particular type of customer or market.
9 Positioning Strategies for entrepreneurial leadership: 1)
Remember, “Perception is reality!”
2) How are you known today to your customers?
3) How do you want to be known in the future by your
customers?
4) What can you do right now to begin creating the desired
customer perception?
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8© Brian Tracy. All rights reserved. The contents, or parts
thereof, may not be reproduced in any form for any purpose without
the written permission of Brian Tracy.
10 Creative Marketing growth strategies: 1) Sell more of your
existing products or services in your existing markets.
2) Sell new products and services in your existing markets.
3) Develop new products and services for your existing
markets.
4) Develop new products and services for new markets
altogether.
11 Creative marketing through Distribution Channels: 1) What
additional products and services could you sell through your
existing
distribution channels?
2) What additional distribution channels could you develop?
3) What new products and services could you sell through new
distribution channels?
4) What new products and services could you create for new
distribution channels?
The key to entrepreneurial leadership? Aim to be the best in
your market niche! Only offer products or services in areas where
you can excel.
The rule is “Do it, fix it, try it!” Move quickly on market
opportunities.
Whatever ideas you have, move quickly to try them out, to test
them, to prove them in the marketplace. Fortune favors the brave,
so your rule has to be “Go for it!”
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9© Brian Tracy. All rights reserved. The contents, or parts
thereof, may not be reproduced in any form for any purpose without
the written permission of Brian Tracy.
Action Exercises
1. In what three areas is change having the greatest impact on
your business? 1.
________________________________________________________________
2.
________________________________________________________________
3.
________________________________________________________________
2. What are the three greatest competitive challenges facing you
and your business today? 1.
________________________________________________________________
2.
________________________________________________________________
3.
________________________________________________________________
3. In what three ways is your product or service different from,
and better than, your competitors? 1.
________________________________________________________________
2.
________________________________________________________________
3.
________________________________________________________________
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10© Brian Tracy. All rights reserved. The contents, or parts
thereof, may not be reproduced in any form for any purpose without
the written permission of Brian Tracy.
4. What three factors do your customers consider to be the most
important in buying your product or service? 1.
________________________________________________________________
2.
________________________________________________________________
3.
________________________________________________________________
5. In what three ways could you increase the speed at which you
serve and satisfy your customers? 1.
________________________________________________________________
2.
________________________________________________________________
3.
________________________________________________________________
6. What are the three major trends affecting your business
today? 1.
________________________________________________________________
2.
________________________________________________________________
3.
________________________________________________________________
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11© Brian Tracy. All rights reserved. The contents, or parts
thereof, may not be reproduced in any form for any purpose without
the written permission of Brian Tracy.
7. What three new or different products or services will your
customers be expecting and demanding 3 to 5 years from today? 1.
________________________________________________________________ 2.
________________________________________________________________
3.
________________________________________________________________
8. What needs do your customers have that are not currently
being satisfied by you or by anyone else? 1.
________________________________________________________________
2.
________________________________________________________________
3.
________________________________________________________________
9. What three new markets could you develop for your existing
products and services? 1.
________________________________________________________________
2.
________________________________________________________________
3.
________________________________________________________________
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12© Brian Tracy. All rights reserved. The contents, or parts
thereof, may not be reproduced in any form for any purpose without
the written permission of Brian Tracy.
10. What additional distribution channels could you develop for
your existing products and services? 1.
________________________________________________________________
2.
________________________________________________________________
3.
________________________________________________________________
11. What new products could you develop for your existing
distribution channels? 1.
________________________________________________________________
2.
________________________________________________________________
3.
________________________________________________________________
12. What new products or services could you develop for new
distribution channels? 1.
________________________________________________________________
2.
________________________________________________________________
3.
________________________________________________________________
What one action are you going to take immediately as the result
of what you have learned in this lesson?
_________________________________________________________________________
_________________________________________________________________________
_________________________________________________________________________
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Action 2: Action_3: What you know_1-1: What you know_1-2: What you
know_2-1: What you know_2-2: What you know_3-1: What you know_3-2:
What you know_4-1: What you know_4-2: What you know_5-1: What you
know_5-2: What you know_6-1: What you know_6-2: What you know_7-1:
What you know_7-2: