Impact Impression Blog

Before we begin, let’s destroy the myth called Entrepreneurship Gene. There is none. Entrepreneurship can be taught. While in the school of trial and errors, or knowing the facts by following proven principles, remember this, Action, not truth, will set you free as an Entrepreneur. As an entrepreneur, you don’t see the world through your eyes, company’s perspective or gut feeling, no matter how exotic they are. You must see the world through your customers’ eyes. There’s no better pair of lenses than the customers’ eyes. It is called, entrepreneurial garment . We all know that customer is king and their kingship reign forever, as far as business is concerned. And to miss or discard the whims and desires of these royalties is like staging an orchestra in your living room without an audience – a total waste of time. Remember again, it is the customer and only the customer that determines how good and viable you products are. It doesn’t matter if you think your products are...

Alibaba is planning to open its first brick-and-mortar mall in April at its headquarters in Hangzhou, China, MarketWatch reports . “More Mall,” as it is reportedly called, will be five stories tall and offer products from brands on Alibaba’s Taobao platform and elsewhere. It will also feature retail technologies like virtual fitting rooms, high-tech makeup testing mirrors, and Alibaba’s tech-based grocery store. More Mall is another step in Alibaba’s plan to go after traditional retail. The company has invested as much as $8 billion in brick-and-mortar retail in the last two years, according to Forbes, with its current footprint including Hema, its grocery store chain, and Tao Cafe, its unstaffed convenience store. Hema stores allow shoppers to get additional product information by scanning a barcode and order items to be shipped from the store, while Tao Cafe offers customers the ability to pick their products and pay automatically upon their exit. These innovations could ...

Since this administration got into power, the most recurring word in Nigeria's economic industry is recession. Many did not even know that this word exist until they were plunged into it. However, this ugliness is here among us and is threatening to cohabit with us for much longer than is necessary or required. Hardship is bad - when viewed from an angle. But if viewed from other angles, it can be a tool of greatness. Many successful people in the world today have credited their success to a one time hardship, or deficiency, which prompted them into doing the extraordinary. Of course if everything were rosy, some of the great inventions in the world today wouldn't have been thought of, let alone brought to being. Napoleon Hill, in his address said, "There is one quality that one must possess to win, and that is  definiteness of purpose, the knowledge of what one wants and a burning desire to achieve it." To live above this evil called recession, you must be...

Did you know that communication takes two forms -the verbal and non verbal? And of course when both conflict, the non verbal is (consciously or unconsciously) validated. Do you know how horrifying this can be? Imagine preparing the best presentation – world class type – and then mess it up by being fidgety or frowning or even showcasing fear! Why take the trouble to gather or face an audience (believe me, it’s not easy to do this) and then muddle it up by communicating the opposite of your intention? Have you ever watched a Chinese movie that’s not translated yet you still watch it to the end? Why would you watch a movie that you don’t understand Jack of what they are saying? Because somehow, you can relate with shouts, facial expressions, body language and other tiny bits – this is non verbal communication doing its thing. Some of the action could be misunderstood, because the verbal and non verbal are supposed to go hand in hand (complement each other). But the fact remains...

Most people do their best work when they know their manager trusts them. If they worry that you think they’re lazy, incapable of directing their behavior, or lack integrity, they’re unlikely to take feedback or coaching from you. So go out of your way to gain your employees’ trust by demonstrating positive assumptions about them. Give challenging assignments, with the clear and confident belief that your expectations will be met. And don’t hide information, or assume people will mishandle it. Instead, promote transparency. Try adding a “through the grapevine” agenda item to meetings as a fun, informal way for people to share company information they’ve heard, so you can either confirm or debunk the rumor. When managers demonstrate positive assumptions, employees respond in kind. [HBR]

Do you know why many would be successful business owners (entrepreneurs) get stuck while making strategic plans and choices? It is because they considered Where to Play  without reference to How to Win. I’ve heard variants of this over and over. Although I have always emphasized that these five choices have to link together and reinforce each other, hence the arrows flowing back and forth between the boxes, it has become clear to me that I haven’t done a good enough job of making this point, especially as it relates to the choices of Where to Play and How to Win. Many people ask why Capabilities and Management Systems are part of strategy when they are really elements of execution. That is yet another manifestation of the widespread, artificial, and unhelpful attempt to distinguish between choices that are “strategic” and ones that are “executional” or “tactical.” Remember that, regardless of what name you give them, these choices are a critical part of the integrated set ...