Category Archives: Economics

Small notes of Entrepreneurial Wisdom

I been working on how to launch EOII for 6+ years. During those years, I read and study from lots of books. See Resources and browse EOII Bookshelf. I often would have a date with a book over coffee and jot down notes. I have many journals, duo tangs, binders and loose papers to account for. Because I was lazy (lol), I hardly left a reference to where I got those notes from. I recently been organizing my entrepreneurial notes and discovered 3 small pieces of ringed journal paper with 4 written notes stapled together. When I find out where I got them from, I will post an update to this blog post. I believe I got them from, The Organic Entrepreneur by Maxine Hyndman.

 

Creativity
Merge ideas with Purpose, the best ideas are collaborated and connected with nature.
Visualize the outcome your evoking, take stock of accomplishments, get past the wall.

 

Your Thoughts Create Reality
Your imagination is fueled by desires and passions to manifest thoughts out of actions. By aligning life with thoughts you will create the reality from intentions and discipline.

The committment to your vision is a challenge. It has to be because value comes from the fruits of labour. Its not the task at hand that matter – its the end result. Success is relied on focus on goals and decision making. Identify your talents, work to your strengthens, and ask for help. (Just asK). Don’t make assumptions or presume others will help, ask and speak up to make it known. You are responsible for your own actions.

 

7 Market Questions
1. what do i do each day to attract customers?
2. what do i do each day to turn potential opportunities into actual business?
3. what do i do to monitor my business everyday?
4. what do i do to nurture the love factor in my customer relationship?
5. how discipline am i about my time?
6. how do i build on my curent knowledge and skill?
7. how am i turning information in knowledge and knowledge into wisdom for myself and for my customer?

 

Emotion Motivate Through Consciousness
1. identify the feeling or emotion
2. do something, one tiny thing, to maintain conscious movemment, even if it is to stop and breath awhile.
3. find out how you really feel about success now.
4. decide if you still want the goal.
5. detach from fear, imbue transformation for good to empower yourself and environment.
6. have empathy and tcm. be vigilant and evaluate your emotional state.

Turning a problem into an opportunity with the 4 Factors of Production

As an urban entrepreneur – I look at what is the prevailing problem facing the community and economy and transform it into an opportunity to improve that situation (a problem statement identifies the problem than vision and mission statement will execute solution). Albert Einstein said, “In the middle of difficulties lies opportunities.”

A problem is triggered by external factors in the social (urban decay), economic (unemployment)  and political (cronyism) sectors in society. Once you diagnosed the symptom(s) of the problem than you can make smart choices to solve problem by providing the solution (products or services.)

Finally, to manifest your big idea solution you need inputs (factors of productions) to be tools to execution of you big idea problem solving enterprise.

BREAKING DOWN ‘Factors Of Production’

In essence, land, labor, capital and entrepreneurship encompass all of the inputs needed to produce a good or service. Land represents all natural resources, such as timber and gold, used in the production of a good. Labor is all of the work that laborers and workers perform at all levels of an organization, except for the entrepreneur. The entrepreneur is the individual who takes an idea and attempts to make an economic profit from it by combining all other factors of production. The entrepreneur also takes on all of the risks and rewards of the business. The capital is all of the tools and machinery used to produce a good or service.

http://www.investopedia.com/terms/f/factors-production.asp