Success for an entrepreneur is limited only by the size of their dreams and their enthusiasm to do whatever it takes to follow those dreams.
There is nothing worse than one day looking back over your life and thinking, “What If?”
I want you to never regret not pursuing your passions.
I believe everyone has the potential to start their own business and be a success. But you need to be shown how to get started as an entrepreneur.
There is nothing stopping any of you spotting opportunities, creating new ideas and having the confidence and capabilities to turn these ideas into reality.
What is going to help you choose your path?
What’s it going to take to enable you to build a convincing picture of your future business?
Today’s article is going to give you a brilliant method to define yourself, declare exactly what makes you unique, and determine the right entrepreneurial path for you. Once you do, you’re going to find your ‘big idea’.
Jim Collins in the book Good to Great introduces the Hedgehog Concept.
The hedgehog concept is not a goal to be the best, a strategy to be the best, an intention to be the best, a plan to be the best. It is an understanding of what you will be the best at.
The hedgehog concept is simply three intersecting circles. The middle part, where they intersect is where you will find your greatness.
He suggests taking three bits of paper and listing the following separately:
1. What are you TRULY PASSIONATE ABOUT –
2. What are you, or can you be the BEST IN THE WORLD AT
3. What DRIVES YOUR ECONOMIC ENGINE or HOW YOU CAN MAKE MONEY FROM IT
These three questions are going to help you find what you were born to be doing.
Where these three circles intersect, right in the middle, that’s called your Hedgehog Concept.
Question 1:”What are you truly passionate about?”
Passion is the energy that drives being great. You must determine what drives you, excites you, and really fires you up.
- What would you love to do every day?
- What are you deeply passionate about?
- What are you interested in?
- What captures your attention?
- What could you and do you spend hours learning about because it’s so intriguing or fulfilling?
- What do you love?
- What motivates you?
- What do you love doing so much that you look forward to getting up every morning?
- What gets you fired up?
- What can you talk about for hours without getting bored?
- What industry or product really fascinates you?
Question 2: “What are you (or can you be) best in the world at?”
We all have talents and abilities and qualities that form the uniqueness of who we are. This isn’t what you “strive” to be the best at, or “want” to be the best at. It is what you can actually be the best at.
- What do people admire you for?
- What do they tell you you’re good at?
- What can you be the best in the world at?
- What do you have a natural talent for?
- What are you great at?
- What skills and strengths do you have?
- What are the things that you do well?
- What activities have you noticed comes easily to you, which may be difficult for others?
- What set of skills do you offer the world?
- What do you know a lot about?
- Look at what you can potentially be or do better than anyone else.
Question 3: What drives your economic engine?
The key idea here is marketability. What will other people pay you for? What skill could earn you a sustainable income? You must determine how you will make money or all the passion in the world isn’t going to help.
- How can we I develop a sustainable resource engine?
- What makes best sense financially?
- How can you ensure you’ll continue to have sustainable resources and finances?
- What can you make money at by focusing on?
- What can you make money at by focusing on?
- What will people pay you to do?
- What is important enough to other people or organizations that they will pay you to do it?
“If you could pick one and only one ratio–profit per x…–to systematically increase over time, what x would have the greatest and most sustainable impact on your economic engine?”
Look at the intersection point. What should your dream business to look like? How can you create a satisfying, prosperous business from the intersection of these circles?
I believe that identifying your hedgehog concept provides the best foundation for building a successful business. Knowing your hedgehog concept will also help you know what products and opportunities fit with your overall hedgehog concept and know which ones do not.
For me when I did the hedgehog a simplified answer of what I found was:
What am I truly passionate about – I am passionate about wanting to help others. I wanted to use my life for the greater good, making the difference to the people’s lives I touched. I wanted more than anything to use my own personal struggles and triumphs, my biggest mistakes and greatest successes to propel others into their greatness.
What are you best in the world at – I know I’m an excellent coach and mentor, and the best way for me to make a positive change in the world is by being able to inspire and motivate people to action, to take them away from survival mode and transform their journey into one of prosperity. .
How you can make money from it – Extraordinary prosperous lives are achieved not by mere motivation, but by being able to access the tools, information and strategies that show you the way. I make my money from providing these resources.
My business lies at the intersection of these three answers.
I encourage you to sit down and figure out your own personal hedgehog concept. What are you passionate about? What can you be the best in the world at? What makes you money?
“Everyone has his own specific vocation or mission in life… Therein he cannot be re¬placed, nor can his life be repeated. Thus, everyone’s task is as unique as is his specific opportunity to implement it.” Viktor Frankl
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