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Endeavor Reaches Milestone of A Thousand Entrepreneurs Selected with Spain’s Shot & Shop and Miami’s Kairos

During the 56th International Selection Panel in Miami, FL, Endeavor officially marked the selection of a thousand entrepreneurs since 1997. During an intense day of deliberations by groups of expert panelists, two entrepreneurs simultaneously emerged as the […]

January 6th, 2015 — by admin

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Third Harvard Business School Case Study on Endeavor Details Expansion into Miami

Harvard Business School (HBS), working closely with Endeavor, profiled the organization’s U.S. expansion into Miami in a recent case study that explores Endeavor’s operating model, global strategy, and the rigorous decision process behind the establishment […]

January 30th, 2014 — by admin

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Leadership and success: An interview with John Assaraf

By Alex Pirouz (reprinted from Under30CEO).

As a teenager, John was involved with a negative ‘street’ lifestyle that could’ve easily led to jail or the morgue. In his quest to overcome these challenges, live a purposeful life and become a millionaire he studied brain science and quantum physics – as they relate to achieving success in business and life.

Through consistent focus and application of what he learnt he was featured as one of the experts in the hit film and book The Secret. He is a New York best-selling author and has landed appearances on Larry King Live, The Ellen DeGeneres Show, Anderson Cooper 360°, and many other major media outlets.

In the last 20 years he has built several multimillion dollar businesses, and is the founder of REMAX Indiana, a company that has 1,500 sales associates, who collectively generate $4.5 billion a year in sales.

We interviewed John to find out the importance of leadership within an organization.

Having started and built many multimillion-dollar and a billion-dollar business, how important was it to have the right leadership within your organization?

Having the right leadership is absolutely critical, it is no different to setting off on a military mission. You can have the biggest mission, vision or goal but unless you have the right people to buy into the mission and others who have the specific skills to execute the strategies and tactics you can never really achieve the goal.

People will work 8 hours a day for a job that they love, 12 hours a day for a boss they love and 24 hours for a mission that they buy into.

They say anyone can become a leader. Is it really possible? Aren’t their people who have traits that make them unfit to be a leader?

I personally think that in order to be a leader you must first have the propensity and desire to be a leader. Leadership to me is being able to bring out the best in other people. It’s not telling people what to do its showing people and giving them the opportunity to get it done, this is a skill that as a leader you have or you don’t.

What is one characteristic that you believe every leader should possess?

Empathy and compassion; if you can empathise with another person’s emotions and situation and be compassionate in the way you lead, then that to me is most important.

What is one mistake you witness leaders making more frequently than others?

Not paying the right people what they are worth.

What do you think is the biggest challenge facing leaders today?

Hiring and keeping great talent. The market place is very competitive and companies have realised that the biggest assets within a company is human capital, not their product or service. So to find the right people, train them, give them the right roles and responsibilities and compensate them fairly is the biggest challenge most leaders face today.

What are the dangers of having the wrong leaders within an organization?

If you have the wrong people executing the right strategy you will never succeed.

Can someone be a good leader, but not a good manager? Which is better for a company?

I happen to be one of those people, I am a very good leader but not a very good manager. I don’t like to manage processes and systems, I like to inspire and lead people with my vision, behaviours and work ethic. One of the things to recognise is to know what your core strengths, competencies and unique abilities are so you know what type of leader you are.

What are you doing to ensure you continue to grow and develop as a leader?

I read at least a book a week, go to at least four events per year and hire a private consultant to help me grow and develop into a more skilled and powerful individual.

What advice would you give someone going into a leadership position for the first time?

If you are going into a leadership role for the first time, the first thing you must understand is that people do want to be lead. People don’t want to be lead in a way that causes them to feel badly about themselves, they want to be lead in a way that will enable them to grow, love their role and take full responsibility for their actions and results.

People don’t mind being told when they don’t do something right, but don’t challenge who they are as a person, challenge the job that they did and show them that they are capable of doing better.

The art and science of due diligence

By Andrew Sherman (reprinted from Under30CEO).

Due diligence is not just a process, it is also a reality test — a test of whether the factors driving the deal and making it look attractive to the parties are real or illusory. Due diligence is not a quest to find the deal-breakers but a test of the value proposition underlying the transaction to make sure that the inside of the house is as attractive as the outside. Once the foundation has been dissected, it can either be rebuilt around a deal that makes sense or allow the buyer to walk away and prevent the consummation of a deal that doesn’t make sense.

Overall, the due diligence process, when done properly, can be tedious, frustrating, time-consuming, and expensive. Yet it is a necessary prerequisite to a well-planned acquisition, and it can be quite informative and revealing in its analysis of the target company and its measures of the costs and risks associated with the transaction. Buyers should resist the temptation to conduct a hasty “once over,” either to save costs or to appease the seller. Yet at the same time, they should avoid “due diligence overkill,” keeping in mind that due diligence is not a perfect process and should not be a tedious fishing expedition. Like any audit, a diligence process is designed to answer the important questions, and ensure with reasonable assurance that the seller’s claims about the business are fair and legitimate.


Why venture capitalists invest in pigs, not chickens

Reprinted from OnStartups.com. See the original post here.

By Jeff Bussgang

The following is a guest post from Jeff Bussgang. Jeff is a serial entrepreneur and currently a general partner at Flybridge Capital Partners, a Boston-area early-stage venture capital firm. Jeff is also the author of “Mastering The VC Game”.

There is an old parable about the concept of commitment when it comes to breakfast. The story goes that when looking at a plate of the traditional fare of ham and eggs, it’s obvious that the chicken is an interested party, but the pig is truly committed.

When I tell this story to entrepreneurs, my point is usually to contrast the approach VCs have to start-ups as compared to entrepreneurs. The VC is an interested party, but at the end of the day, if their start-ups live or die, they typically still have their job, their office and their portfolio of other investments. The entrepreneur, on the other hand, is the pig – truly committed to the outcome, with no fallback.ham eggs

But lately I’ve been thinking about the parable of the pig and the chicken in the context of the characteristics that make a great entrepreneur – and the kind of entrepreneur that we VCs in general, and my firm Flybridge Capital in particular, like to back. In short, we like to back pigs – entrepreneurs who are truly and completely committed to the outcome of their venture, have a lot of stake, and no fallback.

How do we discern the difference between the two entrepreneurial archetypes? It’s usually relatively easy, but sometimes subtle. Here are a few of the top characteristics we see in entrepreneurs who appear to be exhibiting behavior that suggests they’re more like “chickens” when it comes to their start-up:

1) Prefer to wait to start their venture only after they receive funding (“We are ready to go, as soon as you give us your money.” …um, does that mean you won’t start the company if I don’t give you my money?).

2) Don’t quit their day jobs before receiving funding. (“This has been a side project for a year, and I can’t wait to focus on it full-time” … um, if you can’t wait – why are you waiting?)

3) Don’t physically move themselves or their teammates to be in the same geography when starting their venture (think Eduardo Severin in the Social Network spending his summer in NYC).

4) Prefer to play a hands-off chairman role or look to quickly hire a COO/president in the early days rather than operate as the hands-on CEO/president. (I’ll leave out the numerous examples to protect the innocent, but as a rule of thumb, companies with fewer than 40 employees don’t typically need a COO).

5) Are unwilling to fully leverage their own personal and professional networks to drive recruiting, fundraising and business development.

On the other hand, the top five characteristics we see in “pig” entrepreneurs include:

1) Commit to the new company everything they have – even if that means moving their families, quitting their jobs, or even dropping our of their schools (as much as I don’t want to condone or encourage this!).

2) Put themselves “out there” publicly and visibly with the industry, their relationships, family and friends. If the company is a failure, it will not be a quiet one.

3) Have not yet achieved a mega-success already and/or yet achieved wealth beyond the point of needing to work again. (I remember my mentor and boss at Open Market, CEO Gary Eichhorn, congratulating me when I became a first-time homeowner in the mid-1990s and observed: “I hope you got a large mortgage so that you are locked in and highly motivated to create wealth!”).

4) Participate in a minimal set of outside interests and hobbies that aren’t directly related to their business. Starting a company is a consuming, obsessive, 7×24 endeavor. Raising a family and remaining healthy is enough of a battle. When we see entrepreneurs with long lists of hobbies and outside interests, it’s a red flag. One of my partners went so far as to look up the number of times an entrepreneur played golf one summer (which apparently is public information somehow, although I’m not a golfer so still don’t know how he figured this out) as a barometer for how hard they were applying themselves to their new venture.

5) There exists a rare breed of entrepreneurs that have already had mega-success are so special and driven that they remain obviously hungry and scrappy. For these entrepreneurs, the key is to watch and see if they’re still as hands on as they ever were (e.g., obsessed with the product, knee-deep in the financial model, out in front of the organization in selling). Again, these entrepreneurs are very special.

So what are you – the chicken or the pig? Investors clearly prefer one model over the other, not just in the founder, but in the entire team. As a result, as you are assembling your start-up team, be careful not to hire chickens. In the eyes of prospective investors, you may find it’s even less kosher than hiring pigs.

Invite your stakeholders to share your startup journey

Reprinted from GrowVC. See the original post here.

By Markus Lampinen.

Remember that expression, the easiest way to run a marathon is to tell everyone you’re going to run a marathon? Well the same applies to a lot of business practice, some of it less intuitive than others. How are you going to attract the right people and partners, if they don’t know what you’re all about?

Startups and businesses in general can get increasingly complex and entrepreneurs have such big aspirations, that they might just overlook the very basics of getting the word out and building that early traction. There are countless examples where you can benefit a lot by getting just a little out there to the public. You don’t need to be extravagant, but you’ll have to be audible.

Recruiting is a great example. In building your web presence and brand, you will soon have hundreds if not thousands following your progress on a daily basis. These people are passionate about what you’re doing, they are early adopters and they are there from the very beginning. Why not share who you would need to your team, who you are on the look out for? Odds are this group of pioneers will have just the right person, with the right drive to join you.

So you can’t pay them, who cares? Use the work investment model that we have created and give him a stake in the company, step by step. For them, getting involved early on can be vastly appealing if they’re already sold on your vision.

Expanding your operations to a new market? Great! Why not start getting the word out about your new expansion plans? The Internet is global and your stakeholders could be anywhere! Have you looked at your Google analytics and wondered where that one Argentinian or Israeli came from? Why not put your appeal to work for you and attract them as your local representation in new areas. Soon you might have a flock of Argentineans or Israelis on your Google analytics. Why not, you have all the tools at your disposal.

It’s easy to get lured into thinking that everything requires a grand plan and strategic implementation yada yada. The truth is that it’s often the small things that will have the biggest impact. At least all of them combined for a long time. Imagine all the little tweets and blog posts building up for several years, it starts to also create a history for where you’ve come from, but also generates a timeline of your progress.

So while the grand plan is indeed important, don’t let it distract you for the everyday actions that can take you one step closer to building your dream team or entering new markets. Share your thoughts, your aspirations and call on your followers in the global market. What have you got to lose?

Big things are great, but lots of small things will ultimately lead to great things.

Jack Canfield’s top 7 success tips

Reprinted from The Secrets of Success Blog. See the original post here.

By Jack Canfield

1.) Take 100% Responsibility for Your Life. One of the greatest myths that is pervasive in our culture today is that you are entitled to a great life-that somehow, somewhere, someone is responsible for filling our lives with continual happiness, exciting career options, nurturing family time and blissful personal relationships simply because we exist. But the real truth is that there is only one person responsible for the quality of the life you live. That person is YOU.

2.) Be Clear Why You’re Here. I believe each of us is born with a life purpose. Identifying, acknowledging and honoring this purpose is perhaps the most important action successful people take. They take the time to understand what they’re here to do-and then they pursue that with passion and enthusiasm.

3.) Decide What You Want. One of the main reasons why most people don’t get what they want is they haven’t decided what they want. They haven’t defined their desires in clear and compelling detail…What does success look like to you?

4.) Believe It’s Possible. Scientists used to believe that humans responded to information flowing into the brain from the outside world. But today, they’re learning instead that we respond to what the brain, based on previous experience, expects to happen next…In fact, the mind is such a powerful instrument, it can deliver to you literally everything you want. But you have to believe that what you want is possible.

5.) Believe in Yourself. If you are going to be successful in creating the life of your dreams, you have to believe that you are capable of making it happen…Whether you call it self-esteem, self-confidence or self-assurance, it is a deep-seated belief that you have what it takes-the abilities, inner resources, talents and skills to create your desired results.

6.) Become an Inverse Paranoid. Imagine how much easier it would be to succeed in life if you were constantly expecting the world to support you and bring you opportunity. Successful people do just that.

7.) Unleash the Power of Goal Setting. Experts on the science of success know the brain is a goal-seeking organism. Whatever goal you give to your subconscious mind, it will work day and night to achieve…To engage you subconscious mind, a goal has to be measurable. When there are no criteria for measurement, it is simply something you want, a wish, a preference, a good idea.

© Jack Canfield

Adapted from THE SUCCESS PRINCIPLES: How to Get from Where You Are to Where You Want to Be by Jack Canfield with Janet Switzer (HarperResource; January 1, 2005; ISBN: 0-06-059488-8)

Jack Canfield, America’s Success Coach, is the founder and co-creator of the billion-dollar book brand Chicken Soup for the Soul and the nation’s leading authority on Peak Performance. Visit his website at www.JackCanfield.com

Can a venture capitalist add value beyond money?

Reprinted from Roger’s Blog. See the original post here.

By Roger Ehrenberg

Roger Ehrenberg is the founder and Managing Partner of IA Ventures. Read Roger’s complete bio here.

This is a question I ask myself every day. “Am I REALLY helping my portfolio companies?” And if I am spending lots of time with my companies, does this necessarily translate into better returns for my Limited Partners? This is pretty biblical stuff if you are an investor, and strongly informs both the way you interact with portfolio companies as well as the shape of your portfolio. If I view venture investing as an exercise in asset allocation, e.g., if I assume I can’t add real value beyond my dollar investment, and therefore focus 100% of my efforts on investment selection and portfolio diversification, this would create one type of portfolio. Conversely, if I view myself as being able to have a material positive effect on my portfolio companies, then I’m less concerned with diversification and more focused on creating opportunities to build concentrated positions in companies with high expected returns. Either can be a rewarding path, but I think it is really important to know who you are, the covenant you establish with entrepreneurs and the implicit risks and rewards of your decision. Such decisions even impact the optimal staffing level for a venture firm. Let me tell you, balancing firm structure, philosophy and reputation isn’t easy.

In order to pull off the pure asset allocation play, a few things need to be working:

* Your firm has huge brand cache that generates awesome proprietary deal flow, where

* Deal flow is a function of (1) having superstar investors who are power-nodes and (2) outstanding historical performance, which indicates that

* Both the firm and the partners have built reputations over many years of being in the venture business and proven that they’ve go the goods.

In short, as a general rule I’d say that this points towards long-established, top-heavy firms that scale well because each investment isn’t especially time consuming. Further, it would indicate a larger portfolio as it is harder to ascertain which investments are likely to be big winners due to the gap in engagement between the firm and the start-up, rendering it important to have a broad array of potential big winners in the book. From where these big winners emerge, who knows. But does it really matter? If the curated deal flow is top-notch, it is likely that attractive returns will follow. But precious few firms to my knowledge could successfully pull off such a strategy, as the competition for the best deals gives currency to factors such as hustling, spending lots of time with founders and being deeply engaged with their growth plans. And as the environment for seed stage technology investing heats up, even greater weight is likely to be placed these factors by entrepreneurs.


The pay-it-forward culture: a tradition of mentorship in Silicon Valley

Reprinted from SteveBlank.com. See the original post here.

By Steve Blank

(Steve Jobs and Robert Noyce in picture on left)

Foreign visitors to Silicon Valley continually mention how willing we are to help, network and connect strangers. We take it so for granted we never even to bother to talk about it. It’s the “Pay-It-Forward” culture.

We’re all in this together – The Chips are Down

In 1962 Walker’s Wagon Wheel Bar/Restaurant in Mountain View became the lunch hangout for employees at Fairchild Semiconductor. When the first spinouts began to leave Fairchild, they discovered that fabricating semiconductors reliably was a black art. At times you’d have the recipe and turn out chips, and the next week something would go wrong, and your fab couldn’t make anything that would work. Engineers in the very small world of silicon and semiconductors would meet at the Wagon Wheel and swap technical problems and solutions with co-workers and competitors.

We’re all in this together – A Computer in every Home

In 1975 a local set of hobbyists with the then crazy idea of a computer in every home formed the Homebrew Computer Club and met in Menlo Park at the Peninsula School then later at the Stanford AI Lab. The goal of the club was: “Give to help others.” Each meeting would begin with people sharing information, getting advice and discussing the latest innovation (one of which was the first computer from Apple.) The club became the center of the emerging personal computer industry.

We’re all in this together – Helping Our Own

Until the 1980’s Chinese and Indian engineers ran into a glass ceiling in large technology companies held back by the belief that “they make great engineers but can’t be the CEO.” Looking for a chance to run their own show, many of them left and founded startups. They also set up ethnic-centric networks like TIE (The Indus Entrepreneur) and the Chinese Software Professionals Association where they shared information about how the valley worked as well as job and investment opportunities. Over the next two decades, other groups — Russian, Israeli, etc. — followed with their own networks. (Anna Lee Saxenian has written extensively about this.)

We’re all in this together – Mentoring The Next Generation

While the idea of groups (chips, computers, ethnics) helping each other grew, something else happened. The first generation of executives who grew up getting help from others began to offer their advice to younger entrepreneurs. These experienced valley CEOs would take time out of their hectic schedule to have coffee or dinner with young entrepreneurs and asking for nothing in return.

They were the beginning of the Pay-It-Forward culture, the unspoken Valley culture that believes “I was helped when I started out and now it’s my turn to help others.”

By the early 1970’s, even the CEOs of the largest valley companies would take phone calls and meetings with interesting and passionate entrepreneurs. In 1975, a young unknown, wannabe entrepreneur called the Founder/CEO of Intel, Bob Noyce and asked for advice. Noyce liked the kid, and for the next few years, Noyce met with him and coached him as he founded his first company and went through the highs and lows of a startup that caught fire.

The entrepreneur was Steve Jobs. “Bob Noyce took me under his wing. I was young, in my twenties. He was in his early fifties. He tried to give me the lay of the land, give me a perspective that I could only partially understand,” Jobs said, “You can’t really understand what is going on now unless you understand what came before.”

What Are You Waiting For?

Last week in Helsinki Finland at a dinner with a roomful of large company CEO’s, one of them asked, ”What can we do to help build an ecosystem that will foster entrepreneurship?” My guess is they were expecting me talk about investing in startups or corporate partnerships. Instead, I told the Noyce/Jobs story and noted that, as a group, they had a body of knowledge that entrepreneurs and business angels would pay anything to learn. The best investment they could make to help a startup culture in Finland would be to share what they know with the next generation. Even more, this culture could be created by a handful of CEO’s and board members who led by example. I suggested they ought to be the ones to do it.

We’ll see if they do.


Over the last half a century in Silicon Valley, the short life cycle of startups reinforced the idea that – the long term relationships that lasted was with a network of people – much larger than those in your current company. Today, in spite of the fact that the valley is crawling with IP lawyers, the tradition of helping and sharing continues. The restaurants and locations may have changed, moving from Rickey’s Garden Cafe, Chez Yvonne, Lion and Compass and Hsi-Nan to Bucks, Coupa Café and Café Borrone, but the notion of competitors getting together and helping each other and experienced business execs offering contacts and advice has continued for the last 50 years.

It’s the “Pay-It-Forward” culture.

Lessons Learned

• Entrepreneurs in successful clusters build support networks outside of existing companies
• These networks can be around any area of interest (technology, ethnic groups, etc.)
• These were mutually beneficial – you learned and contributed to help others
• Over time experienced executives “pay-back” the help they got by mentoring others
• The Pay-It-Forward culture makes the ecosystem smarter

Steve Blank is a retired serial Silicon Valley entrepreneur who developed the Customer Development process and teaches it at Stanford, Berkeley and Columbia, among others. He blogs about entrepreneurship frequenly at SteveBlank.com.

Four stories every business must build

Reprinted from Ducttapemarketing.com. See the original post here.

By John Jantsch

Stories build commitment. They allow us to go on journeys in search of our best self. They entertain, simplify, and inspire. They are easy to share. Great leaders are often great storytellers.

The power of story as a business building and marketing tool is undeniable. A simple story can draw upon our emotional desires in ways that reams and reams of logical data never will.

While an uplifting story or even a tragic story can capture the listener’s interest, the real power of storytelling in business is that it permits a business to illustrate values and beliefs in action.

It’s one thing to say we’re trustworthy and quite another to share a story about the day your employees went without a paycheck because they so believed in what you were building and trusted you would make things right when you recovered from this unforeseen challenge.

I believe that every business must find and tell their core stories over and over again and then they must invite their employees, customers and networks to help build these stories into journeys worth taking over and over again.

Below are four core stories that must live in every business

The Passion Story

This is often the owner’s story, a tale of why they started the business, how the business serves their own personal mission or purpose in life. Why they get up and go to work, why they love what they do or what happened in life that set them on their current path.

The interior of the Grand Jury hearing room was anything but grand. It consisted of a handful of plastic chairs arranged in a way that made the jurists feel more like an audience than a court appointed arm of the United States Justice Department. Although I distinctly remember the lights, maybe it was me, but they seemed awfully bright.

What could I possibly have to offer as a witness in a hearing determined to bring federal charges upon one of my clients? As it turned out I was very boring witness with nothing to offer the case, but it was a turning point in my business and perhaps my life.

In the effort to build my business I had taken on a client that I knew was doing things I couldn’t support, that were counter to my own values, and I knew also in that moment that I would never again do business with a customer I didn’t respect.

And that’s part of my passion story. (To get the rest you need to buy the tell all book. Well, not really.)


4 things leaders must do to bring the best out of people

Reprinted from Under30ceo.com. See the original post here.

By James Bird Guess

According to a survey by the Conference Board, a global market research firm, most of today’s employees in the workplace dislike their jobs. In addition, a survey conducted by Right Management, a division of Manpower, illustrated that 60% of employees intend to leave their jobs when the economy improves. It’s no secret that the majority of today’s employees are unmotivated and disengaged in the workplace and their disengagement according the Gallup organization costs employers roughly $300 billion annually.

What can organizations, managers and leaders do to create a workplace environment where employees are inspired to perform? Based on my experience of training thousands of supervisors, managers and senior level leaders across the country, I have concluded that workplace leaders must focus on being at least four things to their employees which display specific qualities that inspire, motivate, develop and empower employees to want to perform.

4 Things Leaders Must be to Bring the Best Out of People:

1. Be a Coach:

A coach is one who teaches, develops and helps employees identify obstacles that prevent top performance. Coaching is about strategically and tactfully asking your employees the right questions so they can learn to ultimately see things for themselves. Asking questions guides a person’s thinking. For example, instead of solving your employees problems and just giving them answers, a coach will ask a series of questions that probe the employee to solve the problem. This takes time, but if deliberately practiced, the employee will soon get in the habit of asking himself or herself the same questions and will ultimately develop a problem solving mentality just like the manager or leader who acted as the coach. Coaches are also energetic, passionate and lead by example. The coaching style is very attractive to employees who become receptive to the coach’s suggestions of new ways of working to improve performance.

2. Be a Sergeant:

A sergeant, just like a drill sergeant in the U.S. Army is one who pushes, challenges and transforms an individual to prepare them to succeed. As a sergeant, you must ultimately be ready to make decisions in times of crisis, emergencies and deadlines and stand by your decisions as your employees execute your demands without question. Keep in mind, many managers and leaders make the mistake of applying this style frequently, which results in employees who are only performing out of fear or they are intimidated by the manager or leader acting as the sergeant. While the manager or leader who frequently uses this style may still get results, he or she must understand that employees are more than likely only performing at half of their true capacity. They are indeed only performing just enough to keep from being fired. The sergeant must also knew when to apply pressure and stress to particular employees and teams so that they do not become too comfortable, complacent and content. The sergeant serves to remind them that in today’s competitive economy and workplace, there is no comfort zone!

3. Be an Encourager:

An encourager is one who supports, empathizes and listens to employees who may be experiencing personal issues, low morale, burned out or simply frustrated at work. So many managers and leaders continue to fail to understand that they must connect with their employees on a personal level. They believe that employees should just do what they are paid to do and that it is not necessary to get to know them personally. This is one of the biggest mistakes managers and leaders make and what they continually fail to realize is that an employee’s personal issues will eventually impact their professional performance. You do not have to become best friends with your employees, but you should know their hobbies, interest, personal goals, and birthdays. Remember, people don’t care how much you know and they won’t work as hard for you, until they truly know how much you care about them.

4. Be a Leader:

A leader is one who inspires people to pursue a greater purpose and ultimately a vision. Remember, the majority of employees in this nation dislike their jobs and since they are doing something they dislike on average 40 hours per week (160 hours per month), of course they are going to get burned out, lose sight of the goals and the vision. Being a leader means you must be a source of inspiration for your employees. You must sense when morale is low and do something that revitalizes them. Mahatma Gandhi said “be the change you wish you see,” so if you want upbeat, take initiative type employees, it starts with you setting the pace for your team to adjust and run instead of walk.

If you are not passionate and energetic about the work of your team and the organization, why should they be? Being a leader means living your vision and mission statement everyday with energy and reminding your employees that they are not just performing tasks and duties, but ultimately working for some greater purpose. Why do people volunteer for nonprofit organizations like Habitat for Humanity or Big Brothers Big Sisters? It’s because they receive invisible compensation called making a difference. If you act as a leader your employees will take on extra work without asking for extra pay because they understand their purpose. People will work for a paycheck, we know that, but people will also die for a cause, we know that as well.

Finally, it’s important to understand that none of the leadership styles above is better than the other, they all have their strengths and weaknesses. They key is learning when to apply the styles in specific situations and to specific employees. Stay focused and keep Grinding for Greatness!

From the Sephora of Chile to the Staples of Egypt, who wowed Endeavor panelists the most? [with video]

Reprinted from Wamda.com. See the original post here.

By Nina Curley

As panelists duked it out over which entrepreneurs deserved to become Endeavor mentees at the International Selection Panel this past week, some clear winners emerged. Those who were selected, including two dubbed the “Sephora of Chile” and the future “Staples of Egypt,” managed to convince the panelists that they understood their customer, understood their market, structured their business well, and could have a wide-reaching impact. But that doesn’t mean they were perfect. On Wamda TV, we asked panelists who inspired them, and what room they saw for improvement.

Susan Lyne, Chair of U.S.-based luxury retail site Gilt Groupe, describes how Chilean beauty company DBS inspired her, and why entrepreneurs need to focus on their governance.

Osman Ünsal of Turkish investment firm Atlas Corporate Finance describes the Chilean woman entrepreneur and Egyptian family business that impressed him the most, and the biggest mistakes that he saw entrepreneurs making.

Fawaz Zu’bi, founder of Jordanian venture capital firm Accelerator Technology Holdings, describes why entrepreneurs need a confidence boost, and what it means for Jordan to host entrepreneurs from other emerging markets.

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