Journey of a Serial Entrepreneur

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How to get from where you are to where you want to be

A Small World

“Never before in history has innovation offered promise of so much to so many in so short a time.” Bill Gates

Today after being on a conference call between three different time zones, I stopped to marvel at the amazing transformation the internet and telecommunication tools have had on business. My father reminds me of the days he was in Saudi Arabia in the early 80’s, when using the telephone was a luxury and all business transactions were either done in person or through telegrams. I cannot even begin to fathom doing that today. With the explosive growth of computers and the internet, the world has suddenly and truly become a small world. No one is really inaccessible and everyone is linked to each other through various social networks. At times however it can be quite overwhelming knowing that one is constantly plugged into this network be it through a computer, laptop or mobile phones.

The world having become increasingly more connected has brought about many new opportunities for entrepreneurs in it’s wake. Today you can be sitting in Singapore talking to your supplier in Guangzhou, China and selling your product to someone in Brazil. All this with the help of Skype, E-Banking and some collaboration software. However, not enough entrepreneurs are being able to see the multiple opportunities that exist now that we are able to bridge these massive divides. My father and many of his friends are in the import/export business. They can literally conduct business anywhere in the world just by using a phone. Other opportunities such as outsourcing are also becoming increasingly popular and Timothy Ferris has dedicated an entire chapter in his book “4 Hour Work Week” to it.

I have quite a few friends who use e-bay and other such websites to make a decent part time income to supplement their primary income streams. Some of them are the first ones to get the latest mobile phones from Asia and sell them to buyers in the West; others buy handicrafts from China and supply major retail stores. This definitely requires doing your homework, finding a niche and seeing whether you can locate a gap to fill. By leveraging on technologies which are readily available today this has become increasingly simpler from days of yore when you needed to go to the post office to send out a telegram. This is only one of the ways we can leverage on available technologies. I will discuss the impact of these technologies on various aspects of business processes in the near future.

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5 Steps to Change a Habit

“When you sow a thought you reap an action, when you sow an action you reap a habit, when you sow a habit you reap a character and when you sow a character you reap a destiny.” Anonymous

Embracing change poses a challenge to most of us. Our comfort zones have the ability to make us feel just that, comfortable and at peace. Stepping out of these zones is a frightening experience, at the best of times.  Venturing into spaces where you need to find your bearings all over again is daunting . The task is arduous at the onset, it doesn’t get much easier along the way either, however, when you have successfully enlarged that comfort zone, the feeling of accomplishment is unparalleled. This week, I talked about a couple of steps which can be used when wanting to change or develop a new habit. I felt it was important to talk about this, because being an entrepreneur requires you to be flexible and open to change. It requires you to change limiting habits and beliefs, which may be pulling you back. Listed below are five steps which may be of help in this process:

1. Identification: Before we commit ourselves to “change”, we need to make sure our unconscious desires connect with the conscious ones. Clarity about what you want to change is essential. Asking yourself what you want to change about yourself is a powerful question, use it to crystalize your thoughts. To read more about identification of limiting habits/beliefs please click here.

2. Ask yourself why: Once you have identified the change you want in your life, the next question is, why do you want to change? This discovery process is essential, to grasp the fundamental reasoning behind the change you want to see in your life. Without this process of understanding , you may discover that you approached change in a particular habit, for the wrong reasons. You may discover that you never really wanted to change this particular habit, hence, you had not found a strong enough reason to motivate the change. To read more about asking yourself “why” please click here.

3. Make a plan: To successfully start a transformation process, you need to outline a plan. One which will be documented, and have clearly marked time lines. It is important you take into account any triggers which may lead to lapsing back to old habits.  To read more about making successful plans for changing  habits please click here.

4. Taking action: We can plan all we want, in the end, it all boils down to taking action. This step requires courage, determination, and above all, belief in your capabilities to bring about change. Life is too short to expect those around us to change, or, to stand still and hope that things will become better. The first step towards wanting to bring in change, is to take responsibility for your life. It boils down to you, and how committed you are, to wanting change in your life. To read more about taking action please click here.

5. Maintaining change: Once we have taken that first step towards bringing change into our life, we have begun a journey. To help us maintain the change that we have brought into our lives some of the things which can help us are, keeping a daily log, developing a support system and rewarding ourselves whenever we reach small milestones. These activities will help keep you motivated when the going gets tough. To read more about maintaining change please click here.

Time is the most precious asset we possess. Everyday is an opportunity for you to bring about the change that  you want to see, in your life. In the end, it boils down to your level of determination and persistence to be the change you want to see. I love the Adidas quote “impossible is nothing”. Maybe that could be a mantra for your next habit change? Best of luck!

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Maintaining Change

“We are what we repeatedly do. Excellence then, is not an act, but a habit.” Aristotle

Once we have taken that first step towards bringing change into our life, we have begun a journey. Like most journeys, this one will have its share of ups and down. There will be times, when you will want to go back to the way things were, and there will be others when you feel lost and alone. Embracing these feelings for what they are, is an important step on this journey. If we let our emotions hinder our capabilities to move forward, we will find ourselves trapped, and unable to bring about the changes we want to see in our life. There is no doubt, we will fall many times, to fall is only human. What matters is whether we have the courage to pick ourselves up, and keep moving on.

Listed below, are a couple of pointers which have helped me carry on, when the going was tough:

1. Keep a daily log: This simple activity does not require you to write pages of detailed specifics. Its primary purpose, is to help you understand the transformations which are taking place in your life on a daily basis. As a secondary purpose, it serves as an outlet which allows you to express your thoughts and emotions.

2. Support systems: When we are undergoing drastic changes in our life, we need to identify an individual or a group of people, to rely on to help you through this period. Better yet, taking someone on board who also wants to change or inculcate the same habit, is ideal. This way there is someone to identify with, who also understands what you are going through. This emotional bond sometimes creates a force strong enough to overcome just about any obstacle.

3. Reward yourself: This is a tip I use a lot when going through change. It provides incentive to push yourself further. The sense of accomplishment when you are rewarded for your efforts, is a great boost as well. This also helps create a momentum that is infectious, and soon you find yourself hitting goal after goal. Choose your rewards carefully,  they play a major role in motivating you to go further.

Sustaining change is a challenging task. We have to constantly keep reminding ourselves why we want to change, and what we hope to achieve, once we have changed. The rationale behind the reason for change must be based on solid foundations. Without this base, reverting to older habits is more likely, and no one likes to admit failing. However, after having said that, there will be times, when although the reasons for change are based on the strongest of foundations, we still fail. At this point, it is best to go back and understand the reasons again. Was a trigger missed ? Does the plan need changing ? The minute we start blaming our inadequacies, is when we lose hope. Look for reasons , not blame.

Remember there is no such thing as failure only feedback!

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Taking Action

“Whatever course you decide upon, there is always someone to tell you that you are wrong. There are always difficulties arising which tempt you to believe that your critics are right. To map out a course of action and follow it to an end requires courage.” Ralph Waldo Emerson

We can plan all we want, in the end, it all boils down to taking action. This step requires courage, determination, and above all, belief in your capabilities to bring about change. Life is too short to expect those around us to change, or, to stand still and hope that things will become better. The truth is, once you sit on the fence for too long, it becomes comfortable, and taking a decision becomes a lot harder. In my own life, there have been times when I have been guilty of such behavior, we all have. However, what has happened in the past remains there, what is important is, that we don’t make the same errors today. If you have decided that something in your life needs changing, and have figured out what it is, and how you plan to change it, then you need to do, just that.

The first step towards wanting to bring in change, is to take responsibility for your life. It boils down to you, and how committed you are, to wanting change in your life.  For example, we are constantly bombarded about the side effects of smoking, in Singapore, they even have gruesome photographs on cigarette packs of what it could potentially do to you. The mind however, is such a powerful thing, that these images are subconsciously blocked. By remaining undecided and continuing to sit on the fence,  it may well be too late when you decide to take action! I accept that it is lot easier for me to say such things because I don’t smoke, I realize that giving it up is a very difficult process and one which requires a lot of discipline and determination. I believe however, that to find courage to take action, sincere and convincing arguments need to be understood with an open mind. Fully comprehending the negative impact of this habit is vital.

Along the way, curved balls will be thrown at you undoubtedly. Certain triggers will appear repeatedly, the urge and need to revert back will often be too strong to resist. However, if you have been strong enough to take that first step, with all the right reasons and intentions, half the battle has already been won. The theory of “Ready, Fire, Aim” is one which I believe in completely, it forces you to take action. There will always be fears and doubts regarding the outcome of an action, the important thing is, that you have taken that first step. Once you have begun to take consistent action, it is now, only a matter of maintaining a momentum to help you reach your goal.

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