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4 Ls of Entrepreneurship

Guest post by: Devesh Dwivedi

Article Overview: Entrepreneur Devesh Dwivedi talks about the the letter L in the word 'entrepreneurship'... Love, Listen, Learn, and Leverage are the Ls of entrepreneurship. Read until the end as there are two surprise Ls as well.

4 Ls of Entrepreneurship

It's been quite a while I have put on my MBA hat and for some reason I can't resist the temptation this morning. I used to love the acronyms made out of actual words and the whole 5Ps of this and 3Cs of that type of content in my MBA classes because I saw crystallized lessons that were easy to remember too... So here's a post I wrote with my MBA hat on - 4Ls of Entrepreneurship.

Love:Love what you do, who you do it for, for success, for money for anything and everything about entrepreneurship. If you're in this game for quick money, you'll be out pretty fast and needless to say if you love what you do, why & how you are doing it and who you're doing it for, that would help you conquer the sleepless nights and caffeine driven days of your entrepreneurial life.

Listen:Listen more, listen more often, listen to customers, listen to competitors, listen to mentors and listen to your heart. Listen more, speak less and notice the difference... People love to talk and tell stories so, listen to what they have to say and they will automatically find you approachable and easy to work with.

Learn:Don't shy away from new things be it technical or soft skills... Learn something new as a practice, you'll enjoy it and will have a totally fresh perspective on other issues and areas because of your ever expanding horizon. Learn from mistakes that you make, learn from mistakes that others are making because the ladder of success is best climbed by stepping on the rungs of failure.

Leverage:A strength or skill not used is useless. Leverage what you love, listen, and learn, in everything you do... This means put the power you gained with these levers called loving, listening, and learning into action. If you hear worry &/or happiness of business expansion in a client's voice, see it as an opportunity and act accordingly. Similarly, leverage what new skills you learn, otherwise they are of no use...

Remember it's an ongoing, everyday thing; let's say it's a lifestyle to become a better listener, learner and above all a "leverager" to be successful entrepreneur...

Bonus Ls :)Luck, I subscribe to the philosophies like ‘Fortune favors the bold and prepared' and ‘the harder I work, the luckier I get' so, although I hate to admit, sometimes, it could be a matter of luck, the matter of being at the right place at right time... Since luck can not be learned/ acquired as a skill, I used this L of entrepreneurship as a bonus L. Another bonus L is Lie, never lie in entrepreneurship. Period. It is one thing to be optimistic and another to over-inflate facts and figures or skills and capacity of your startup/idea. Remember, it's a very small world and the old saying "it takes years to build the trust that can be broken into seconds" certainly holds true in the tight knit startup ecosystem.

So did you love what you read, did you learn something, how are you going to leverage it? I'd love to hear from you so, please take a minute to comment below and help me listen to you, learn from you and then leverage it to make this and future articles even better.

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Article Tags: entrepreneur, leverage, love, surprise



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