1 00:00:00,000 --> 00:00:01,040 What is the very? 2 00:00:01,614 --> 00:00:06,130 Let's say critical element 3 00:00:06,130 --> 00:00:09,648 if somebody want to step into this journey 4 00:00:10,926 --> 00:00:16,161 And do we all need to get on this journey? 5 00:00:18,281 --> 00:00:20,094 That's a good question 6 00:00:22,000 --> 00:00:27,126 I think that a successful business 7 00:00:27,966 --> 00:00:35,807 which is a system, which creates value for customers and jobs for people 8 00:00:38,549 --> 00:00:42,768 It should be grounded in authentic demand and 9 00:00:44,000 --> 00:00:48,384 it's the people working in the business have many roles 10 00:00:49,000 --> 00:00:51,298 And there's a difference between working in the business 11 00:00:51,298 --> 00:00:54,107 and working on it, and entrepreneurs need to work 12 00:00:54,611 --> 00:00:57,401 need to move towards working on the business 13 00:00:58,680 --> 00:01:00,751 directing and guiding and leading 14 00:01:01,690 --> 00:01:04,552 but in the beginning they're going to be in it and on it. 15 00:01:04,552 --> 00:01:05,643 They're going to be 16 00:01:06,640 --> 00:01:10,286 in the kitchen, so to speak cleaning up and doing work and 17 00:01:11,793 --> 00:01:17,805 But eventually if they want to grow and scale and create more jobs and more growth 18 00:01:17,805 --> 00:01:20,364 in their company then they would need to systematize 19 00:01:20,364 --> 00:01:25,000 and step back, and create documented systems that can be repeatable 20 00:01:28,000 --> 00:01:30,624 But everyone can have an entrepreneurial mindset 21 00:01:30,624 --> 00:01:34,725 and my great-grandfather did this in his business 22 00:01:35,121 --> 00:01:40,485 He had this concept called blue sheets, and you've heard of Blue Sky Thinking. 23 00:01:41,354 --> 00:01:43,134 This is back in the 1920s 24 00:01:44,000 --> 00:01:47,630 He had every department 25 00:01:47,630 --> 00:01:52,559 and not too far away from any worker is a sheet of blue paper in a box 26 00:01:53,644 --> 00:01:57,373 And anyone can write down any idea for improving. 27 00:01:58,730 --> 00:02:02,696 This Is 1920, this is before the Toyota way 28 00:02:03,146 --> 00:02:05,996 Wow - which is a similar mindset 29 00:02:06,692 --> 00:02:09,562 And my grandfather collected the blue sheets 30 00:02:09,562 --> 00:02:15,689 and people read them all, and any idea which they felt could be implemented to improve 31 00:02:16,485 --> 00:02:18,831 production or worker welfare 32 00:02:18,831 --> 00:02:23,420 or anything would be implemented in that person would get credit. 33 00:02:24,260 --> 00:02:25,304 They would get 34 00:02:26,733 --> 00:02:27,733 Awards 35 00:02:28,000 --> 00:02:29,738 Financial awards 36 00:02:30,270 --> 00:02:33,070 Recognition and so this was highly motivating 37 00:02:33,070 --> 00:02:36,578 and so everyone in the whole business was entrepreneurial