4 Ways to Build Your Company: Entrepreneurs, you are not an island. Entrepreneurs must rely on their ecosystems. Your survival depends on your interactions with those around you, for better or for worse. And those interactions depend on the quirkiness of human beings -- our passions, intuitions and foibles. Entrepreneurs can learn valuable business management lessons from biology itself. Here are four: 1. Diversity can take you farther than expertise. Biological systems, like rainforests, thrive on diversity. The richness of the interactions between different species of flora and fauna determine the ultimate robustness of the system. What scientists have discovered is that the same thing applies to human problem solving. 2. Build a strong tribe. Human beings are tribal creatures. We love to belong to groups, whether they are sports teams, professional organizations or neighborhood gatherings. You can think about your employees, customers and suppliers in the same way. Foster a sense of "belonging" 3. Trust is essential for business growth. Humans are wired to survive. Thus, we tend to avoid pain more than we seek pleasure. The fear of punishment is more powerful than the possibility of reward. However, the antidote to fear is trust. Trust is how we overcome threats. Trust can be lost in seconds, whereas it takes a lifetime to earn. 4. Emotions are a big part of the equation. Although we like to think we are highly rational, science shows that first and foremost, we are emotional creatures. We feel before we think. Respect the power of emotions in business. You can create value by fostering stronger emotional bonds with your customers, partners and employees.
Posted on: Fri, 05 Jul 2013 14:30:57 +0000
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