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6 Legacy Building Techniques To Make A True Impact On Your Business, Employees And Customers

Master these six things and make a true impact on your business, employees and customers.

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True entrepreneurship involves a mindset of solving problems. But real success goes well beyond the bottom line to impacting lives and leaving a legacy.

Many global challenges need innovative solutions that are likely to be solved by entrepreneurs. Established industries like health care, education, and alternative energy are ripe for disruption.

This creates opportunities for those who want to step up and become the next Larry Page, Elon Musk or Bill Gates.

This is how you can do it:

1Find your purpose or ‘why’

The pioneering entrepreneur Peter Diamandis says, “The best way to predict the future is to create it.”

People often say to me, “I’m 30 years old and have no idea what to do with my life.” Lacking clarity can waste years of your life.

People who change the world have a strong why, and a clear purpose. For example, Elon Musk said the goals of his companies SolarCity, Tesla Motors, and SpaceX revolve around his vision to change the world and humanity.

If you don’t know your purpose, start working on yourself now by asking:

  • What matters most to you and why? (Maybe improving well-being in your community, access to education and ending suffering or poverty.)
  • What is your calling? What do you think you should do?
  • What gets you excited every morning and why? Intrinsic motivators from your deepest values will sustain you, not extrinsic motivators powered by someone else’s values.
  • What do you enjoy so much that you’d do it for free?
  • How do everyday problems frustrate you and what can you do to solve them?
  • If you won the lottery, what would you do differently?
  • What are you here to do? What legacy do you wish to leave on the planet?

2Revisit your purpose often

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Any plan is worthless without execution. At times, you’ll feel out of alignment; that’s the human experience — plans and reality often contradict each other. Frequently revisiting your purpose will keep you on track.

How you revisit your purpose will depend on your personality. As an extrovert, I get my energy by connecting with my ‘tribe’ — people on the same journey as me. Look for a local entrepreneurship group, attend a seminar or hire an executive coach.

If you’re an introvert, take time out for mindfulness and introspection. Write everything that’s on your mind each morning and night in a journal.

Rewrite the answers to your purpose questions. Unplug from technology for the weekend. Read stoic philosophy for perspective.

3Cultivate your signature strengths

Identify your signature strengths and talents so that you can use them every day to add value to others. Maybe you know your strengths based on previous feedback or the outcomes of your decisions. Think about what talents you used when experiencing the most success and fulfilment. If you’re still unsure, take some personality tests like Strengths Finder or 16Personalities.

4Don’t work in isolation

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An African proverb states, “If you want to go fast, go alone. If you want to go far, go together.” Cultivate an exponential mindset — where you view the world as full of possibility and hope. Don’t work in isolation.

Collaborate with transformational leaders and build an exceptional team; they’ll teach you how to be a better leader. And you’ll build something bigger than yourself with a lasting legacy.

5Be part of the team, rather than above it

In Leaders Eat Last, Simon Sinek says that great leaders look out for their team before themselves. Let them know that you’ll always have their back, so they’re empowered to build a business with impact and legacy together.

Develop first-hand knowledge of the challenges the team faces. Just ask. This raises your confidence and credibility.

6Lead a life of service

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Go beyond your call of duty to solve grand global challenges. Even after wild success in business, Bill Gates has found a higher calling in eradicating pandemic diseases.

Legends like Martin Luther King Jr. and Mother Teresa aligned their passion with a purpose to change the world.

It takes courage to have a vision and to serve that vision so you leave a legacy that fosters prosperity for future generations. We live in an extraordinary time in the history of humanity. Use this opportunity to take a stand and build a legacy that will help humanity flourish.

Kunal Sood is a member of The Oracles, a brain trust of high-level entrepreneurs. He is the founder and CXO of X Fellows and a TED Resident. He is writing his first book called Exponential Happiness.

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Leading

How To Make Speedy Decisions As A Leader

Whom of us has not been held prisoner by our own devices of procrastination and fear? Whom has not used delaying tactics purely to play for time only to learn the true practical meaning of Shakespeares words: “I wasted time and now time doth waste me”?

Dirk Coetsee

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“Trusting one another, however can never mean trusting with the lip and mistrusting in the heart.” – Mahatma Gandhi


“Self-trust is the first secret of success” – Ralph Waldo Emmerson

Whom of us has not been held prisoner by our own devices of procrastination and fear? Whom has not used delaying tactics purely to play for time only to learn the true practical meaning of Shakespeares words: “I wasted time and now time doth waste me”?

Rapid decision-making

Harvard research has identified amongst other key traits of the most successful CEOs’ of Fortune 500 companies the ability to make decisions quickly and act on them at a rapid speed albeit with the inherent acknowledgement that they might get it wrong forty percent of the time.

Related: 7 Strategies For Development As An Entrepreneur

Why is speedy decision making and a rapid pace of execution so critical? Top leaders know that making quick decisions combined with swift execution creates a much better chance of success as opposed to very slow and bureaucratic verdicts underpinned by little or no action.

When there is a high level of distrust amongst the stakeholders in any entrepreneurial venture literally everything slows down as negative arguments ensue and takes up an enormous amount of precious time. Forced action underpinned by distrust loses quality and speed and can potentially bring a business to its knees.

“The speed of trust” is therefore an extremely valuable principle that all Leaders should live by, that is if they wish to serve a higher purpose than themselves and others. Those Leaders whom have developed a high level of self-trust and have earned the trust of their team members have put themselves in the very advantageous position of being empowered to move towards their vision at a rapid pace through quickfire decisions positively multiplied by confident and competent execution.

“The speed of trust” does not mean that decisions are made without careful consideration and stakeholder input putting the level of quality of execution at imminent risk. It simply means that the decision-making process is quicker than most as mistrust does not cast unnecessary shadows of doubt over the intentions and ambitions of all the stakeholders.

A Leader or Leaders whom has fostered self-trust within themselves will not go through lengthy spells of procrastination that those whom lack self -awareness and suffer from severe self- doubt has to go through.

How do I execute at the speed of trust?

How do I practically bring the principle of the “speed of trust” to fruition within my business? Firstly, ensure that this critical principal is applied throughout all business processes which starts with hiring trustworthy people and by working those out of the business whom cannot be trusted.  Secondly, as  a Leader your actions and words echo throughout every aspect of the business therefore do what you say you are going to do. Admit to your mistakes and fix them.

Thirdly be authentic in your pursuit of the vision of your business. One of the possible ways to achieve that is by being a visible and living example of the business values that you advocate as a leader.

Related: Sales Leadership: The New Frontier

Lastly in order for you to be trusted as a leader you must first show trust in others. Trust others by giving them more responsibility and verbalise your high level of trust in your team members. Passionately speak about this principle and its positive fruits at every opportunity. Make the practical display of this principle by employees or any other stakeholders known to all stakeholders and be lavish with your praise when anyone is willing to earn the trust of other team members.

A very good example of this principle in action was embodied by the Supreme Russian commander, Alexander Vasilyevich Suvorov whom never lost a battle and was respected by both his men and his enemies. He earned the trust of his men by being amongst them as often as he could, by sharing their hardships and by offering them the most authentic and quality military training known to man within that period of history.

Suvorov was a humble student of warfare and documented every detail of his learning experiences which included setbacks that he faced. He observed the morale of his men first hand and ensured that he inspired them not only through his inspiring speeches but by being a living example of discipline and bravery.

I will leave the reader with an important question to ponder, one that has echoed throughout history: Do you trust enough to be trusted?

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What Kind Of Leader Are You?

Your effectiveness in scaling your business starts with the kind of leader you are. Here’s how you can build yourself up into a leader others will follow.

Nicholas Haralambous

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When you are in start-up mode it’s tough to take a step back and think about the kind of leader you are or want to be. Most of the time you’re fighting to keep your business alive, never mind think about how you lead.

This is especially challenging when it’s faster and more efficient to just step up and do things yourself. It’s easier for you to make the decisions, do the work, check the work, follow up on the work, etc. However, it’s this situation that prevents young companies from scaling to the next level.

Ask More Questions

I work really hard every day to be quieter. Sometimes I succeed and sometimes I fail so dismally that I actually do more damage than good. You see, I like to talk. I like to hear other people talk and I like to bash around ideas until they become something bigger, something better and something that can move from idea into action.

Related: Your Leadership Journey Starts Now… And Go!

Coupled with liking to talk, I also like being right. Who doesn’t? Add onto these two things the fact that I like to read and research and then throw in a teeny bit of ego or pride and it’s a recipe for leadership disaster.

If I am the most well-read, loudest and most opinionated person in a meeting then all that happens is that I end up pitching an idea, getting everyone to agree with this idea and then assigning the work on the idea to become a reality. Basically, I am working with, for and amongst myself. It’s an echo chamber that leads to bad ideas surviving and an unhappy team leaving.

The Collective Is More Intelligent Than the Individual

As a leader and founder, you probably feel like you are the person with the best understanding of the problem you are trying to solve and the best person to solve the problem. This can lead to a dictatorial approach to leadership, team inclusion and problem solving. You have an idea, you tell your team and they do what you tell them.

If this is how you do it then I have to ask you a simple question: Why did you hire smart people? Just so you could tell them what to do? If that’s the case rather hire capable but cheap people, not the best.

Your best people are there to help you scale your business beyond your own thinking and time. There are a set amount of hours in the day. There are only so many emails you can answer in your day.

A good example in my business is customer support. We pride ourselves in our impeccable customer service online and offline. I can’t physically answer every question posed by customers but I can hire incredible colleagues, entrust them with my vision and views on our customers and then trust them to go out and use their good judgement.

Work With The Best

Here’s the kicker to being a good leader: You need to work with the best people.

This is not something I say as a passing statement. I want you to stop reading right now and think about the ten people you interact with at your company every day. Are they the best people you could be working with? If not, why not? How do you find the best people and bring them into your business? Go and do that.

Related: You’re The Boss, So Be The Boss

It’s important to work with the best for two very simple reasons.

Working with the best people pushes you to be better. If you are literally the smartest person in the room in every aspect of your business it means that you are surrounded by subpar players and you are not learning anything. The people around you are meant to educate you and push your business into places you didn’t even know were there.

Second, working with the best people attracts other incredible people. If you have a business full of average team members, can you guess what kind of people they pull towards your business? More average or less than average people. Why? Because average people don’t want to be surrounded by incredible people. If they are, they look worse and not better.

It’s incredibly difficult to be a good leader all of the time. In fact, it’s close to impossible. What you can do is try to be a leader who communicates, learns and grows with your team in an open manner.

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All The Business Wisdom You Need From 4 Famous Entrepreneurs

Combine the knowledge of the greatest entrepreneurs with your own hard earned lessons.

Brian Hamilton

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There’s a lot of deification of entrepreneur “personalities.” The truth is that a few entrepreneurs, in my opinion, are probably luckier than good. But, some of the praise and deification is warranted. There have been some fantastic business leaders in this country, and one can learn a ton from studying them. Below, I’ve compiled a list of the four entrepreneurs who have taught me the most over the years.

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