Taking the Entrepreneurial Leap: Gino Wickman, Bestselling Author and Business Coach

Not all heroes wear capes, some write books. The books Gino Wickman has written are directly responsible for helping me to create multiple million dollar businesses, become a better leader and find balance within my personal and professional lives. Today we discuss his latest book, the Entrepreneurial Leap, and how we apply those lessons to the hospitality industry.

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SHOW NOTES

• Writing Entrepreneurial Leap
• Did not become an entrepreneur until he was 29
• Wants to show others the opportunities available to them
• The book is in three main parts
• Finding out if you are an entrepreneur
• Discovering opportunities
• Creating a path to success
• Hospitality workers are running a business within our businesses
• Success of their micro-business means greater success for your business
• 6 essential entrepreneurial traits
• Gino offers an assessment online to discover if you have these traits
• Allow your staff to take the quiz if you are comfortable with them taking their own entrepreneurial leap one day
• Can be the best employees in the hospitality industry if they stay
• Entrepreneurs are generally unemployable
• Advice for leading leaders
• Lessons from a book called Drive
• Give autonomy
• Provide guidelines and rules but otherwise, let your team have ownership of their work
• Allow mastery
• Give them the opportunity to learn the business
• Make your staff member feel part of something bigger than themselves
• The bigger the problem you solve in the world, the more successful you will be
• Get close to the ground and know your customers’ needs
• Know your customers better than they know themselves
• Evolve to the new needs of customers as the world changes
• 10-year business cycles
• 2 great years
• 6 good years
• 2 terrible years when you almost go out of business
• In another ten years, something else will come
• The power of 10-year thinking
• Have a 10-year goal but not in great detail
• Learning to take action whilst being patient
• 8 critical entrepreneurial mistakes
• Not having a vision
• Not spending time with your people
• Not knowing your customer
• Not staying true to the core
• Not knowing your numbers
• Not crystalizing roles and responsibilities
• Hiring the wrong people
• Grabbing the closest people to you is not a good strategy for hiring
• Make sure people are in alignment with your core values
• Make sure they have the right skill set for the job
• Not charging enough
• Psychological mistake
• Insecurity/lack of confidence
• Many businesses barely break-even in the first 3 years
• Advice
• TED Talk by Casey Brown
• Tip from Dan Sullivan - Pick a number that scares you, then add 20%
• There are many free resources on the e-leap.com website for budding entrepreneurs
• Who inspires Gino