Guest Blog Post by Mr Nigel Clayton-The Ultrapreneur Coach

From Egopreneur to Entrepreneur to Ultrapreneur ^TM

Today there is a 95% failure rate with entrepreneurial businesses. Depending on who you talk to, there are many different ideas as to why they fail. These ideas are based on that person’s background, experiences, education, bias, and so forth. There are thousands of books on how to be a successful entrepreneur and just as many workshops and seminars. If there is a secret to entrepreneurial success they would all be saying the same thing. They aren’t...

The good news is that most entrepreneurs don’t know what they are getting themselves into when they start a business. The bad news is that most entrepreneurs don’t know what they are getting themselves into when they start a business. Very few of them have any business knowledge. They don’t understand business. There are multiple dynamics working simultaneously within a business. The business owner starts out being excited about a product or service they want to sell, and that’s it. I call this stage of entrepreneurial evolution the “Egopreneur.” I call it the Egopreneur because it’s the entrepreneur’s ego that gives them the guts to start the business. And as they increase their revenue and customers or clients, the ego gets stroked and the entrepreneur keeps moving forward. The problem is as they go forward they realize there is much more to this entrepreneurial thing than just selling their product or service. They have to become a business owner and very few are equipped to make that transition. The problem is they eventually hit a ceiling where they can no longer do everything themselves. At that point they have to delegate or outsource. They then transform into the “Entrepreneur.”

The problem is that this is usually not a much planned out transition. Instead it happens because they are overwhelmed, overworked, and worn out. They desperately need someone to “take some of this off their hands.” Consequently, whatever chaos they created as an Egopreneur multiplies when they become an Entrepreneur. Instead of delegation decreasing their time spent in the business, it increases their time. It increases their time because they don’t have the skills to make the transition work. So they become more overwhelmed, overworked, worn out and eventually that entrepreneurial spirit that was so positive when they started the business starts to die.

I help my clients become Ultrapreneurs. An Ultrapreneur is a business owner that only does what he loves to do in their business and has people and systems in place to make sure all the other tasks are done properly. Being an Ultrapreneur enables the business owner to have:

• A business they love to go to everyday.
• To make all the money they need for the lifestyle they want.
• To feel in control and have plenty of time to do what they want.
• Quality time with the ones they care about.
• To Love their life.

There are 4 steps to moving through the various stages of entrepreneurial evolution:

1. VISION

2. COMFORT ZONES

3. TIME

4.SYSTEMS                                                                                                          

The entrepreneur must have a vision of what they are trying to create, not just an idea. The vision has to be HD TV clear so they can answer any question about it without hesitation.

They have to know what they want their next comfort zone (think of it as short term goals) to look like and identify and overcome the obstacles that could prevent them from moving forward.

They have to look at how they are spending their time. You can perform three tasks with your time. Tasks you are good at, tasks you are bad at, and tasks you love to do. Moving away from task you are bad at and even good at and only doing tasks you love to do will energize you and give you the power to keep moving forward.

Systems have to work in the natural way the business owner works. If the business owner tries to work solo, it isn’t going to work. These steps are inter-related and are not linear. They are happening simultaneously.

You can’t become an Ultrapreneur without mastering the 4 steps.

So, there are the 3 stages of entrepreneurial evolution, the 4 steps to move through the stages, and then there are the 5 elements to entrepreneurial success. The elements for entrepreneurial success are intertwined into the stages and the steps.

 The 5 elements consist of:

1. UNDERSTANDING BUSINESS . This means having the skills to become a business owner by understanding each of the pieces of a business and how they work together. It means being able to quickly and easily assess where the weaknesses are and taking action to correct them. It means having the information you need to feel in control of your business and make the critical decisions to be able to reach your vision.
2. PASSIONATE CREATION. This means creating a business that you are passionate about. It can’t be just about the money, it has to be that something that is really important to you. Something you can’t wait to do every day.
3. BEING YOUR AUTHENTIC SELF. This means being who you truly are. That person you were when you were a child before you lost your authenticity. That’s when you knew, without a doubt what you liked and what you didn’t like. Nobody had to tell you. As you went through society you lost some of that authenticity. You conformed to what society dictated was correct. You were encouraged to do the things that would make you successful according to society’s standards, not necessarily what you felt in your heart. With that you lost some of your creativity, intuition, imagination, and soul. All of which are extremely critical for you being successful as an entrepreneur. In fact, without being your authentic self, it is “impossible” to be successful as an entrepreneur.
4. COMPLETE DAY TO DAY HAPPINESS. This means creating the business around  the lifestyle you really want. It means having day-to-day happiness in your entire life. It’s not about trying to have balance, it’s about creating the ideal life you want, in every respect.
5.  YOUR MARKET IMPACT. This means looking at what part of the market you want to carve out for your business. It’s about what impact on the market your business has and how you create profit centers based on that impact. It’s about creating your unique place in the market through those profit centers.

You can’t become an Ultrapreneur without mastering the 5 elements.

 The final result of mastering the 3 stages of entrepreneurial evolution, the 4 steps to moving through the stages, and the 5 elements of entrepreneurial success is to become an Ultrapreneur and attain “FREEDOM.” Freedom is the ultimate goal for entrepreneurial success. It’s about having the freedom to do what you want to, when you want to, and how you want to. Think about it. Even if right now your goal is to make lots of money, what’s that money really going to give you. The freedom to do what you want to...whatever that is. To become the Ultrapreneur means that ‘Even if you Won the Lottery, You Wouldn’t Change Anything About your Business...or Your Life!’

So dear Reader, what is your opinion, are you ready to become an Ultrapreneur?

___________________________________________________________

A Brief Profile

Nigel Clayton is an Inspiring Coach to Amazing Entrepreneurs. His areas of interests include Business, Financial, Accounting, Executive and SMB.  He is a Certified Coach (by International Coach Federation, ICF) and is based in Denver, USA.

Connect on Linkedin

http://www.linkedin.com/in/nigelclayton

Website

http://nigelclaytoncoaching.com/

Youtube

http://www.youtube.com/user/CoachNigel

Facebook Page

http://www.facebook.com/UltrapreneurCoach