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An Entrepreneurial Mindset (Detroit & General Motors)

In the 1960’s & 1970’s General Motors (GM) was a massive success that drove the Detroit communities into a place of prosperity and growth beyond belief. But when GM hit troubled times in the 1980’s and beyond, the city of Detroit suffered a near fatal blow. The city was too heavily dependent on the success of GM and there were not enough other businesses attracted to the city that could keep the economy of Detroit flowing when GM was struggling.

If you are a government official, a business owner or a professional that wants to land that big job with a company it is in your best interest to adopt an entrepreneurial mindset. If you don’t adopt this kind of mindset then; government officials; your ability to get reelected will be limited, business owners; your success in business is very unlikely and professionals; your ability to progress in your career will be dependent on office politics way more than you can imagine. None of these scenarios are good and its very risky for you and all the people that you really care about. If you were my own brother or sister this is the advice that I would give you:

  1. Find a company that is innovative in the way they solve problems that paying customers have and study that company (i.e. LSNR is a great one to study)

  2. Do your history homework. The future becomes way more predictable when you understand the trends and patterns of the past. (Hint: history tends to repeat itself)

  3. Connect with other entrepreneurial minded people. You really do become more like the people you surround yourself with.

Now you may say those tips are great but how do I practically apply those things to see a benefit:

  1. com is home to tons of innovative start-ups that you can easily locate and start studying (most of the CEO’s there will gladly reply to an email or LinkedIn message from you.

  2. Look at the Dow Jones Industrial average for a 5 – 10-year chart spot the pattern then tell me what the Stock Market is likely to do in the next 16 – 24 months.

  3. Attend or even host an entrepreneurial summit or conference that has leaders and professionals from starts-ups, IPO’s, private and public companies (hint: to save tons of money and time host a virtual entrepreneur conference).

For more ideas and tips that can help you; like the Facebook page @TLTurner Group, follow @60secondmoney on Instagram or check out the podcast 60 second Money especially the crazy business idea segments (ideas that help you win with money).

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