Leading Like an Entrepreneur

Leading Like an Entrepreneur

Leading Like an Entrepreneur

You always hear about leading a company. Leaders must have vision. Leaders need charisma. I’m going to tell you that leaders also need humility. If you are a leader with vision, then you are going to be leading your company through new, uncharted territory. You’d better have the humility to accept failure, learn from it, and have the ability to lead through mistakes.

Given that we’re diving into new and uncharted waters with digital apps and games, I’ve asked Shane Caniglia – the president here at Rich Dad, digital mastermind and a serial entrepreneur – to contribute his experience as we’ve started this adventure. Shane has been leading the creation of our groundbreaking new app we call Rich Dad Poor Dad powered by Clutch Learning. Shane has the vision. Shane built the team. Together, Shane and I are leading the company in a whole new area, and this means leading the company through our mistakes.

People will tell you there are a lot of ways to learn. I will tell you that a major component in learning is making mistakes. It’s the reason I created the original CASHFLOW game. I recommend that when people play the game CASHFLOW that they play it at least 10 times. This is not to win the game but 
to make as many mistakes as possible and learn from those mistakes. The mistakes aren’t as painful with fake money. Each game, especially the ones you lose, actually makes you smarter, and more prepared for the real world.

To be successful, a bold idea must be acted upon. Otherwise, all it is is an idea. Realize that mistakes will be made. As we go into this digital world of smartphones and tablets, and the apps that make them such powerful tools, we are forced to humbly learn from our mistakes. Sometimes we win but, in the beginning, mostly we make mistakes; we learn. That’s okay.

Most people never win because they’re more afraid of losing. That is why school is so silly. In school we learn that mistakes are bad, and we are punished for making them. Yet if you look at the way humans are designed to learn, we learn by making mistakes. We learn to walk by falling down. If we never fell down, we would never walk. The same is true for learning to ride a bike. We still have scars on our knees, but today we can ride a bike without thinking. The same is true for succeeding in business. Unfortunately, the main reason most people are not successful is because they are terrified of losing. Winners are not afraid of losing. Failure is part of the process of success. People who avoid failure avoid success.

Shane Caniglia:

One thing we’ve learned already is that business in this new digital world is still just business. Most people view technology as a product that appears on their screen but don’t think of the mission, team, and leadership (the business) behind it that make it a success or a failure.

The principles that applied before still ring true, it’s just the nuances that have changed. Just like before, mistakes will be made. One mistake we made was teaming up with the wrong partner. We found a well-respected individual within the digital app and gaming industry who had the perfect résumé. This person fit the ideal of a “partner” perfectly. We were wrong.

We got so excited about our new venture that we missed the warning signs and forgot that a single person doesn’t make a business or build a product, a team does. We found someone who we considered being the perfect partner, but we did not look past the individual to learn about their team.

In this case, there was no real team behind the individual. The individual felt that they were great and could win with anyone on their team. They felt the team was not important because they were such a great individual. Well, business doesn’t work that way.

If you look at the Rich Dad B-I triangle, you’ll see that Team, Mission and Leadership are all on the outer edges of the triangle, the most important part, but they are equal. If you don’t have all three, then you’ll fail. We had the mission, and we had the leadership, but we did not look at the team we were hiring close enough. Instead, we looked at the team’s leader. That just isn’t enough.

With any new venture, it is very easy to get swept up in the excitement and emotion of diving into something new and challenging. Take a step back and evaluate whether all aspects of the business are being addressed adequately. If you don’t, holes will appear and your business will suffer. Mistakes are a part of business and a part of life; it’s what you learn from them that makes the difference.

In future blogs, Shane and I will share more lessons we’ve learned through our mistakes as we’ve taken on the digital world of apps and games. We’ll humble ourselves, acknowledge our mistakes, learn and share. We’ll take these mistakes and find knowledge that will allow us to make more apps for more devices and reach more people. That’s what entrepreneurs do; they find a solution to a problem and learn how to serve more people in the process. A visionary leads by being brave enough to make mistakes, then learn from them and then soar to new heights.

So if you have an iPhone or iPad, check out our new app called, Rich Dad Poor Dad powered by Clutch Learning, then follow this blog series and learn from our fun adventure of going into the digital and mobile world. We’ll make mistakes. We’ll learn. You’ll learn.

We’ll be creating the best apps for those devices to provide a new and better way to learn. Oh and don’t worry, we’ll be learning a whole bunch of new lessons as we enter the world of Android too.

Original publish date: February 04, 2014

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