Entrepreneur Revolution

What's "Entrepreneur Revolution" by Daniel Priestley about?

• Entrepreneurial Mindset: The book focuses on developing an entrepreneurial mindset to thrive in the modern economy, moving away from traditional industrial-age thinking.
• Global Small Business: It introduces the concept of the "Global Small Business" (GSB), which operates on a global scale with a small team, leveraging technology and niche markets.
• Empowerment and Opportunity: Priestley emphasizes the unprecedented opportunities available today for individuals to create wealth and make a difference through entrepreneurship.
• Practical Guidance: The book provides practical advice and challenges to help readers transition from traditional employment to entrepreneurial ventures.

Why should I read "Entrepreneur Revolution"?

• Shift in Economy: It explains the shift from the industrial economy to the entrepreneurial economy, highlighting why traditional job security is diminishing.
• Actionable Steps: The book offers ten challenges designed to kickstart your entrepreneurial journey and help you break free from limiting mindsets.
• Inspiration and Motivation: Through case studies and personal anecdotes, Priestley inspires readers to pursue their passions and create meaningful businesses.
• Comprehensive Framework: It provides a framework for building a successful business, including product strategy and the Ascending Transaction Model (ATM).

What are the key takeaways of "Entrepreneur Revolution"?

• Entrepreneurial Revolution: We are in a new era where small businesses can compete globally, thanks to technology and innovation.
• Mindset Shift: Success requires a shift from a worker mindset to an entrepreneurial mindset, focusing on creating value and embracing change.
• Product Ecosystem: Building a business involves creating a product ecosystem with gifts, products for prospects, core offerings, and logical next steps.
• Vitality and Reputation: Success is driven by vitality, reputation, and the ability to create meaningful, de-commoditized, and over-subscribed products.

What is the Ascending Transaction Model (ATM) in "Entrepreneur Revolution"?

• Four Product Types: The ATM consists of four types of products: gifts, products for prospects, core offerings, and logical next steps.
• Building Relationships: Gifts and products for prospects help build relationships and trust with potential customers before they commit to core offerings.
• Profitability Focus: Core offerings should be priced to ensure profitability, while logical next steps aim to double the business's profitability.
• Seamless Journey: The ATM creates a seamless journey for customers, encouraging repeat business and long-term relationships.

How does Daniel Priestley define a "Global Small Business"?

• Small Team, Big Impact: A GSB typically has fewer than 150 staff but operates on a global scale, leveraging technology to reach international markets.
• Niche Focus: GSBs often target micro-niches, allowing them to go deep with their clients and create highly specialized products or services.
• Brand and Culture: They have well-developed brands and cultures that attract top talent and create a dynamic, engaging work environment.
• Lifestyle and Flexibility: GSBs offer lifestyle benefits, allowing owners to work from anywhere and maintain a flexible schedule.

What are the ten challenges to kickstart your entrepreneurial talents in "Entrepreneur Revolution"?

• Make Three Calls: Start something bold without knowing the outcome, initiating conversations that could lead to new opportunities.
• Get a Monkey Bank Account: Save 10% of your earnings in a separate account to build wealth and reduce financial anxiety.
• Network with Inspirational People: Spend time with people who inspire you and bring out your best, while distancing yourself from those who bring you down.
• Carry Cash: Keep a significant amount of cash on you to recalibrate your perception of money and reduce survival anxiety.

What is the "Entrepreneur Sweet Spot" according to Daniel Priestley?

• Passion: Do something you are passionate about to stay engaged and motivated in your business endeavors.
• Skill: Ensure you are good at what you do, delivering real value and creating intellectual property that sets you apart.
• Profitability: Focus on activities that make money, ensuring your business is financially sustainable and rewarding.
• Balance: The sweet spot is where passion, skill, and profitability intersect, allowing you to thrive in the Entrepreneur Revolution.

What are the three keys to success in "Entrepreneur Revolution"?

• Luck: Recognize and cultivate luck by placing yourself in lucky environments and associating with lucky people.
• Reputation: Build a strong personal brand and reputation, as it is a valuable asset that attracts opportunities and success.
• Vitality: Operate from a space of vitality, being irreplaceable and bringing life-force to your business and industry.

What are the seven maxims for cultivating a culture of results in "Entrepreneur Revolution"?

• Pitching: You get what you pitch for, and you are always pitching, so be deliberate with your words and intentions.
• Output Over Confidence: Influence comes from output, not confidence, so focus on creating and producing valuable work.
• Income Follows Assets: Build assets that generate income, ensuring your business can thrive without your constant involvement.
• Client Success: Get known by the success of your clients, as their achievements will speak volumes about your value.

What is the "Value Creation Cycle" in "Entrepreneur Revolution"?

• Idea to Remarkable: The cycle involves moving from an idea to a remarkable product or business that stands out in the market.
• Predictable Stages: It includes stages like the idea, the mess, the beta version, the commercial version, and the remarkable version.
• Remarkable Ingredients: To be remarkable, a product must be meaningful, de-commoditized, and over-subscribed.
• Continuous Improvement: The cycle emphasizes the importance of continuous improvement and pushing through challenges to achieve success.

What are some of the best quotes from "Entrepreneur Revolution" and what do they mean?

• "You get what you pitch for...": This quote emphasizes the power of intention and communication in achieving your goals.
• "Ideas are worthless, implementation is everything": It highlights the importance of execution over mere ideation in creating value.
• "Income follows assets": This quote underscores the need to build valuable assets that generate sustainable income.
• "Create the future, don't consume the past": It encourages readers to focus on innovation and creation rather than dwelling on past successes.

How does "Entrepreneur Revolution" suggest you transition from the industrial age to the Entrepreneur Revolution?

• Mindset Shift: Embrace an entrepreneurial mindset, focusing on creating value and seizing opportunities in the modern economy.
• Product Ecosystem: Develop a product ecosystem using the Ascending Transaction Model to build relationships and drive sales.
• Leverage Technology: Utilize technology to operate on a global scale, reaching niche markets and creating a dynamic business environment.
• Continuous Learning: Engage in continuous learning and improvement, staying adaptable and open to new ideas and strategies.