What is Project S.K.I.L.L.S.?
Literally – this is the new initiative of the Lekovi Foundation “Shared Knowledge and Inspired Learning for Lifelong Success”.
Our mission is, by sharing our own experiences and knowledge, to help young entrepreneurs to achieve their dreams and show the world what they do best.
In the following lines we will try to express as clearly as possible the basis and focus of the Project S.K.I.L.L.S. by presenting some of the most important details that are essential to the success of every entrepreneur.
We have come to these conclusions in the years in which we have traveled our own road to successful entrepreneurship, and we want to share it with everyone who is just out upon it. We think that these are the things that need to be acknowledged and accepted by every person on the path to creating his own business.
So, you are determined to take life in your own hands and try to wlak the path of business with a product or service. Before that, however, we recommend that you read and answer the following questions.
- Why do I want to base their own company or have your own product?
We believe that you will agree with this notion that in most people there is always an inner force that drives them to follow their dreams of creating something on their own. You always feel better while helping others. One of the ways to help others is to create a product or service that will make their lives easier or enjoyable.
- What is the most important thing you need to know to create a company?
Regardless of his role in the company, the entrepreneur must know how to sell. Because if he is able to sell, he is already an entrepreneur. Selling means to convince people.
- What can push you to start your own company?
It is better to start your own company with partners (co-founders and investors) who believe in your idea. This gives you faith that the idea already is or may become a real product/company.
- Why should I think about the end before I start?
In most cases, when you go on a trip, it is good to know exactly where you are going. Similarly, almost always your partners will want to have a clear idea of how you will return their investments. This definitely means that you are able to imagine that your product is successful.
- What’s the best way?
You know the niche where your business is, and you have to know how big the market is. The aim is to become №1 and have at least 15% of the market! This gives you a good idea of how big your company needs to become.
- Why do you need a partner?
You can handle everything by yourself, but this is almost impossible. You can work with your family, but in this case it turns into a family business.
A partner means trust – this is someone who, like you, believe in your idea.
- Why is it so important to understand the capital market to build a successful business?
Many young entrepreneurs do not understand what real growth means. Realistically, the only growth is the increase in revenue and profits.
The best indicator of this is the stock market. However, short-term assessment (within a few days) is not important and may even be dangerous. If you track how a company develops during the years you may find out a lot more.
- Why is it so important for my product to solve a real problem?
If you solve a real problem, it means that no one before you has managed to solve it in the right way, which in turn means that you are an innovator. People who copy the actions of others, do not like their job. They are interested in the outcome of the actions only and their main focus is to make money.
E.g. people who copy someone elses’ actions, usually eventually fail!
- Why is it so important that my product is 10 times better than all existing?
If you have found that someone before you had solved the problem, the best way to manage your product is to be substantially better (usually 3 times, even 10 times better) than the existing one.
This is the only chance to attract customers to an unknown product – yours. They need seriously good reason to start using it.
- Why should you be able to sell and negotiate, to sell your dream?
Only by selling the product can really understand it. When you sell, you get continuous feedback and must continually answer the question “Why should I buy it?”. Any sale validate what you’re doing, and gives you the confidence that it makes sense. The mere act of sale helps entrepreneurs grow as professionals.
- Why is it so important to helping and teaching others how to become entrepreneurs?
Because you learn best when you teach others. According to the American psychiatrist William Glasser, 95% of the knowledge that we pass on to other people will be learned and realized by us.
- What is ethical entrepreneurship?
Expressed in formula, ethical entrepreneurship = speed of trust + your own voice.
Trust does is equal to speed cost.
These are concepts of an almost obligatory books for all entrepreneurs – “Speed of trust” Stephen Covey, assessing the value of trust and determined that it increases the speed of business and reduce costs. When confidence grows, the speed increases and costs decrease, and vice versa.
Another recommended book is “The eighth habit” again by the same author, from which you will learn more about leadership in the new era in which knowledge and people are more valuable than to accumulate possessions and material goods. From “The eighth habit” and find the best way to express your voice to help others to express theirs.
In short, the best way to achieve your dreams is to help others achieve their – this is the highest form of ethical entrepreneurship. To do this, you need the right environment – not arrogant, tolerant and kind to your ideas and dreams.