skills for success: In today’s show, Michael and the young entrepreneurs talk about the skills they need to be successful.
- Learning business skills for success
- The power of brands and recurring revenue models
They begin by talking about inspiration. We all need the spark, the moment that sets light to the flame inside us. Whatever that flame is—whether we’re burning to make a difference to our own lives and those of our families by making money, or we’re burning to fight injustice or change the world. Often there are several small flickers that pave the way, and then the single spark comes along and lights everything up. Without that inspiration, you won’t have the drive to carry you forward.
They share information about books and films that have either helped ignite that flame or taught them something about how to harness and use the energy. Drive and ambition are necessary ingredients but without the skills, the knowledge of what to do with it, all you can do is want success. You can’t work towards it, you can’t progress on your path.
Learning business skills for success
As the two young entrepreneurs are just starting out on their journeys, they are becoming aware of how much they have to learn. They are also realizing that lessons are all around them. They discuss different business models and different sources of income. They have a goal, to set up a successful business. But that goal is one step toward a bigger goal—a life goal of creating wealth for themselves and their families.
Michael helps them to understand a little more about the sales process, as they attempt to answer the question of the right way to sell a pen. He teaches them the skills involved in selling without alienating the potential customer. Whatever the product or service, there is a right way and a wrong way to sell.
The power of brands and recurring revenue models
This leads them into exploring the whole idea of meeting consumer demand, and how to discover what that might be. They have already begun thinking about the businesses they might start, so it is important for them to understand what products they may be able to sell lots of. They are learning to think about the commercial world in a new way.
They talk about the power of brands, and what they can learn from the success of brands that they and their friends like to buy. They also discuss the importance of protecting your business, being able to get a solid return on your investment, using Netflix as an example.
Once more the young entrepreneurs demonstrate how much they have already learnt, and Michael steers them in the direction of more knowledge and ‘skills for success’ to help them develop further.
Michael CraneEntrepreneur, Business Owner, Presenter
For the last twenty years, Michael has built and run a successful business. He’s learned many lessons—some of them the hard way—and he’s met and talked with many other businesspeople. He’s sold thousands of products and learnt the one hundred and one things needed to run a thriving business. Now he’s bringing this knowledge and experience to educate, motivate and inspire other entrepreneurs.