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  • Writer's pictureDavid Miller

A Word on Mastery - an excerpt from David Miller's upcoming book, The Entrepreneurial Algorithm

Updated: Feb 18, 2021

Mastery, for the entrepreneur, means that you are comfortable in what you say and how you say it. You conduct yourself in a consistent manner at each and every opportunity, repeated with congruence, through everything you do and everything you say.


You most likely intend to master 80 to 90% of everything that is necessary to run your business. This is difficult to impossible, and the good news is, you don’t need to. Breathe a sigh of relief and embrace this concept of simplicity and mastery.


REMEMBER: 80% of your results come from 20% of your efforts. The Entrepreneurial Algorithm defines the essential 20% of any successful business.


YOUR BRAND = VALUE X PROCESS X CONNECTIONS


Think of the 20% as the foundation of your business. Unless you have a good foundation, when building anything, everything else that comes after it is subject to failure.


Of course you need a solid product or service. That is a given, and we assume you have all the necessary capabilities and credentials to deliver at a level in the top 20 percentile of your type of business. Your product or service has to be good---it doesn’t have to be the best.


The essential 20% must be great!


For growth and profitability, you need to master YOUR BRAND. You can save time, money, energy, and frustration by using The Entrepreneurial Algorithm to build an exceptional business. This is the precise formula you need to master for business development success.


Eventually you may want to address the other 80% to take your business from great to exceptional. But remember - in the beginning, all those other good ideas are distractions to be avoided.


Common Mistakes


The tendency is to focus on everything.


If you do this, you will never master the 20% that counts (YOUR BRAND).


You will be “The Jack of all trades, master of none.” You will also wonder why others, not half as smart or as capable as you, experience so much more success. Consequently, if you never master the 20% that creates 80 to 90% of the results, you will never realize your full potential.


Entrepreneurs who get distracted and focus on the wrong 20% also have calamitous results. Forbes (Oct 25, 2018) states that just close to half of small businesses survive the first 5 years, and only a third of those will make it to the 10-year mark. Books, workshops, and coaching programs, all with the latest and greatest ideas to grow your business are plentiful. They may be valuable when you have mastered the foundation but are simply distractions until that time.


Stay focused and keep your eye on the prize. Your results will astound you.

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