SPI 736: How to Build Your Vision with Jason Feifer
Nov 24, 2023
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Jason Feifer, editor-in-chief of Entrepreneur magazine, shares strategies and mindsets for creating sustainable projects and achieving growth. They discuss the importance of vertical thinking, building a foundation, and leveraging strengths. The launch of the Experts in Residence program for the SPI pro community is also announced. They share excitement about access to expert guests and discuss their involvement in EIR. The conversation concludes with a promotion of the guest's book, newsletter, and the SPI Pro community offerings.
Implementing the right processes and systems is essential for streamlining operations and ensuring efficiency in business.
Continuous learning, developing new habits, and thinking vertically are key attributes for entrepreneurial success.
Deep dives
The Importance of Processes for Business Success
Having a strong mindset and a great business idea is not enough to succeed in business. The key is to have the right processes in place to streamline operations and ensure efficiency. For example, NetSuite by Oracle is a cloud financial system that has been adopted by 36,000 businesses, offering streamlined accounting, financial management, inventory, HR, and more. NetSuite turns 25 this year and has a track record of helping businesses do more with less, including closing books faster and reducing costs. By implementing the right processes, businesses can have a customized solution to manage their key performance indicators (KPIs) effectively in one efficient system.
The Power of Learning and Developing Habits
Continuous learning and developing new habits are key attributes for entrepreneurs. By staying curious and embracing new learning opportunities, entrepreneurs can stay ahead of the curve. Developing habits can be done using systems like James Clear's masterclass, where goals for the future are broken down into smaller habits. By establishing cues and repetition, entrepreneurs can make progress towards their goals. Investing in personal growth through resources like masterclass can provide valuable insights from experts in various fields and expand knowledge and skills.
The Vertical Thinking Approach to Entrepreneurship
Entrepreneurs need to adopt a vertical thinking approach, where each project or venture builds upon the foundation of the previous one. Unlike the horizontal thinking approach, where each project is separate and disconnected, the vertical thinking mindset focuses on building upon the knowledge, skills, and success of previous endeavors. This way of thinking allows entrepreneurs to leverage their experiences, learning, and resources to create new and more impactful ventures. Thinking vertically helps create a vision, identify opportunities, and align actions to achieve long-term success.
The Excitement of Building and Creating
Building and creating is a driving force for entrepreneurs. It's about envisioning something that doesn't exist yet and turning it into a reality. Building involves stacking experiences, knowledge, and skills in a way that continuously adds value and creates opportunities. Entrepreneurs find fulfillment in building things that are useful to others and making an impact. While each entrepreneur brings their unique perspective and expertise, understanding how people think and connecting with audiences is a common thread for success. Building not only involves tactical strategies but also requires a purposeful vision and a deep understanding of human thinking and problem-solving.
#736 What's the point of building a business if you can't maintain it? If you want to follow your vision and have free time to sustain and enjoy it, you have to understand the vertical thinking successful entrepreneurs instinctively use. Jason Feifer, editor-in-chief of Entrepreneur magazine, is joining me today to help you create projects that stack and work together to supercharge your growth! You're hearing from another one of SPI Pro's Experts in Residence today. We're introducing the EIR program to serve our members with next-level knowledge and support, so tune in to get a sneak preview of what's coming to our incredible community! In his job, Jason has access to world-class entrepreneurs and is here to share the lessons he's learned so far. He and I talk about getting clarity on your mission and bringing it to life in a sustainable way using proven strategies and mindsets! Show notes and more at SmartPassiveIncome.com/session736.