Welcome to this issue of "Dr. T's Timely Tips" by Dr. Tony Alessandra. Please send your feedback to DrTony@Assessments24x7.com!

Curiosity

What is it?

Curiosity is an inquisitive tendency which leads entrepreneurs to question and probe in search for optimal business practices. It is the catalyst ingredient, which leads entrepreneurs to pry into status quo products and service solutions to better solve consumers' problems.

Why is it important?

Curiosity can be a critical part of entrepreneurial-oriented businesses on many levels. A curious mindset can help to foster improvements both internally and externally in business. Entrepreneurs will often continually question the 'best' way to do things, whether it might be seeking innovative ways to market a product/service, to testing different price points or distribution channels.

One of the most important reasons why being curious is essential is because curiosity leads to innovation. Innovation leads to competitive advantages. Competitive advantages lead to market share domination. It is no wonder that businesses all over the world are continually trying to build a better mousetrap.

How to get it if you don't have it?

A sense of curiosity can be achieved through systematic changes in your paradigms. Re-program yourself to look at current solutions to even the smallest problems, products, or services and seek the better solution. This exercise may yield huge dividends. Sometimes seemingly insignificant improvements in the current way that business fulfills a market need is all that is necessary to give life to an idea. Challenge yourself to analyze, confront, and dispute the current marketplace both inside and outside of your industry. Look inward at your own business and life. Ask yourself if there are better ways to do things. Start with yourself. Discipline yourself to find incremental improvements in the way you live your life and run your business. This is the same mindset, if well applied, may yield huge returns in your field.

How to develop it if you have it?

To develop a sense of entrepreneurial curiosity is easy. It requires a propensity to question the status quo. To develop this quality, an entrepreneur can magnify an innate sense of curiosity by looking introspectively at any business model. Identify the ways in which they market, sell, and fulfill their product or service. Ask yourself how these three distinct areas could be improved - even if by just a little.

Open a phonebook and scan through the different service based business sections. Brainstorm different ways to provide the same solution. Watch infomercials. Infomercials are laced with the evidence of a curious mind. Keep an open mind. Look at the world with an eye focused on finding a better solution to everything. It is the mindset that is most important to the development of curiosity.

 

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This article was adapted, with permission, from the One Minute Entrepreneur book, co-authored by my colleagues and friends, Ken Blanchard and Don Hutson with Ethan Willis. Please visit this site for details about the One Minute Entrepreneur book and be sure to take your complimentary One Minute Entrepreneur Assessment too.
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