Motivation is everything. You can do the work of two people,
but you can’t be two people. Instead, you have to inspire the
next guy down the line and get him to inspire his people.
Lee Iacocca
Past President and CEO of Chrysler.
Entrepreneurial motivation encompasses the factors by which goal-directed
behavior is initiated, energized, and maintained. For entrepreneurial strategic
decision-making, three factors are emphasized: self-efficacy, cognitive
motivation, and tolerance for ambiguity.
Retrieved from: The Opportunity Analysis Canvas
Do you have high self-efficacy?
As we turn our attention to entrepreneurial motivation, we're going to start the conversation with a discussion of self-efficacy. Specifically, we'll examine how self-efficacy impacts you and your motivations, and how to improve your personal self-efficacy.
Self-efficacy is your belief in your ability to accomplish a specific task. It intersects an element of mindset, as well as an element of entrepreneurial motivation.
Richard Branson's creation of over 400 companies, to include a number that are global leaders, personifies entrepreneruial self-efficacy. He demonstrates his belief that he can be effective in creating, launching, and growing new ventures.
Self-efficacy may sound like confidence, but it differs. Confidence is a general characteristic that applies to all tasks. We generally think of ourselves as being a confident person or an unconfident person.
Self-efficacy differs from confidence in that self-efficacy is task dependent. For example, if you enjoy numbers, you think of yourself as a numbers person, your self-efficacy for dealing with financial matters is probably high. If you fear public speaking, and you don´t think you are effective as a public speaker, your self-efficacy for selling in front of an audience or marketing in front of a crowd may be low. For this person, who may be generally confident, their self-efficacy is high in finance and low in sales and marketing.
Sports presents another example of the difference between confidence and self-efficacy. You may feel that you're a generally confident person. However, if you've never played tennis, you may not feel that you're going to be very effective in your first attempt as a tennis player. Your self-efficacy for playing tennis is low, although you're still a generally confident person.
The benefits of having a high self-efficacy as it's related to entrepreneurship are many. It certainly is a key predictor of individual performance. Naturally, if you think that you can do something well, like our discussion of optimism, the likelihood of actually doing it well is higher than if you go into it with a low self-efficacy. For that reason it's valuable to increase our self-efficacy.
This is a short story of a small, family-owned billboard company outside of Atlanta, Georgia. The father of the company passed away when the son was 25 years old. The son built the company up over the subsequent years into a large billboard and advertising business. He then became involved and interested in television, and bought a small, local Atlanta station. This was in the 1970s. When you own a television station, you need content. If you want to make maximum use of your channel that you've purchased and are broadcasting on, you need 24 hours of content, seven days a week. One way to that is to produce shows and movies, but that's expensive, too. Given the relative youth and limited success of the Atlanta Braves baseball team, they were an affordable option to buying content for the television station. Subsequently, professional wrestling fit the same mold. This entrepreneur went from billboard promoter to television broadcaster to sports owner. That then brought him back full circle into thinking about advertising and television. At the time, broadcasting 24-hour news seven days a week was not considered a smart idea by most people in the industry. If it had been a good idea, you'd think that NB, ABC, CBS, the BBC, and other leading television broadcasters around the globe would have done it. CNN was the first to do news 24/7. That has blossomed into many other channels that you're likely familiar with. More recently, this same entrepreneur's gone into restaurants.
If you haven't figured it out by now, I'm talking about Ted Turner and the success that he's had in the context of having a very high self-efficacy as it's related to business, and as it's related to starting and growing a variety of different types and categories of businesses that are very different, from advertising, to media, to sports, to restaurants. He's had great success in many of these, but he's had faults. He had one fault in a merger that caused him to lose 80% of his wealth, yet he is still a billionaire.
In summary, when we examine self-efficacy, it is a key predictor of individul performance in entrepreneurial endeavors. Now, for some of us it may be innate. For others it may be learned. For all of us, it can be improved. There are elements of our background, experiences, childhood, professional experiences, and education that influence our self-efficacy. Learning how to improve self-efficacy starts with understanding the principle, and focusing on improving for the future.
Do you exhibit high cognitive motivation?
In our discussion of cognitive motivation, we'll examine its role as an entrepreneurial motivator. We will also explore its impacts on the success entrepreneurs, and how you can improve your own cognitive motivation. This is the second element that we're exploring within the topic of entrepreneurial motivation.
When we consider the term cognitive, fundamentally it's the process of thought. When adding motivation to this term, we're addressing the question of do you enjoy problem solving? And do you use research and analysis to solve problems?
Individuals with high cognitive motivation tend to seek, acquire, and analyze information. They're researchers. They're analytics.
Individuals with low cognitive motivation typically rely on their experience, intuition, assumptions, and luck.
Eric Knight, the author of Reframe, explores cognitive motivation in the context of problem solving, and what's involved in rethinking and reframing problems on a path to developing innovative and highly effective solutions.
High cognitive motivation aligns with activities that we process in our left-brain. Information search and processing is a primary activity. Those with high cognitive motivation seek the details. They often move in a sequential order and use logic to solve problems.
Alternatively, individuals with lower cognitive motivation, the right-brained, typically think holistically. They may see the big picture and have an end result in mind. They're creative in their pursuit of problem solving, in that tasks appear random, and intuition is a key tool for their problem solving.
Solving problems via a high cognition or low cognition approach can both yield positive solutions. In entrepreneurship, the problems are often ill defined and the information is often lacking. Decisions may be relatively unprecedented. Entrepreneurs need to exercise both their left brain and right brain in problem solving.
How can we improve the classroom experience?
By illustration, in America's classroom we're trying to solve the problem of how do you better educate students, have better outcomes, have a more engaging experience, improve retention, and produce better graduates.
Integrating technology into the classroom experience is a popular approach today. Teachers generally appreciate the value of using technology to support diverse learning styles among students, and to create a more motivating environment by enhancing the material being taught.
Online courses also present a unique and novel way to learn dynamically, and to learn in a semi-customized fashion.
Gamification and social learning online are emerging techniques as well.
We see technology in the context of mobile apps, and tablets not only for homework, but also in the classroom. We also see more eBooks, digital textbooks, and open source digital books.
Learning analytics helps teachers assess the concerns and achievements of students. Teachers can monitor in real time how students are performing on tasks that are done within the class, and can attend to a specific student who may be having a specific problem. Teachers can provide personal, real-time attention rather than waiting till the end of the week or till the end of the semester to discover that a student was having problems with a certain concept.
There are also non-technology innovations emerging in classrooms at the K-12 and college levels. There is an increase in problem-based learning and project-based learning. The context of the teaching is tied to real-world problems. Real problems with companies and organizations are brought into the classroom, and may include class visits from company representatives.
There's a broad question of how we emply technology, online courses, devices, social networls, eBooks, learning analytics, etc. into a comprehensive solution for students that improves the quality and affordability of education. It's a hard problem that requires high cognitive motivation to solve.
What are the benefits of high cognitive motivation?
Individuals who have a higher need for cognitive motivation typically make better entrepreneurial decisions. If you don't like hard problems, if you expect to find the answers easily, or if you expect to have lots of precedence, then entrepreneurship is a hard way to go. If, however, you enjoy the challenge, you enjoy difficult problems, and you enjoy trying to make a puzzle fit even though you may be missing pieces, that's more aligned with the entrepreneurial path.
Individuals who have a higher need for cognition are able to recall information and connect information in different ways. They're more accurate in analyzing that information, of thinking about arguments, counter arguments, alternative solutions, and the selection of solutions within that path. They demonstrate better logical reasoning along the way. Intuition and emotion play roles, but more attention is paid to the analytics of it and the logical decisions of it.
In summary, when we think about cognitive motivation, I encourage you to pursue a high cognition approach of being detail-oriented and research driven in your problem solving, while leveraging the left brain elements of creativity and a holistic perspective.
What is your tolerance for ambiguity?
As entrepreneurs face many dynamic challenges, tolerance for ambiguity is surely an asset. We'll examine tolerance for ambiguity in the context of entrepreneurship, its impact and influence on successful new venturing, as well as how to assess your personal tolerance for ambiguity. this is the third element of our discussion of entrepreneurial motivation as it relates to strategic decision making.
Our definition of tolerance for ambiguity is the tendency to perceive ambiguous or unclear situations as acceptable, or even desirable, rather than threatening.
The need for tolerance for ambiguity in entrepreneurship is clear, because markets change, customers change, competition changes, regulations change, and politics change. When you're dealing with many different changing forces, you need to be comfortable with experiencing the unexpected. And with that, you can make complex decisions relatively quickly with limited information.
By illustration, we can examine a public company, an entrepreneurial company, but a large company that has had to improve their tolerance for ambiguity. It had to respond to change and has had struggles of late. This is a company that I expect we all know well.
In a two-year span from 2006 to 2008, 80% of their market value dissapeared. They went from a $40 stock to an $8 stock. Since then, they've rebounded under the guidance of their former CEO who returned to the company to guide its next chapter.
While not the founder of starbucks, Howard Schultz was a very early entrant with the company and built it to be the global powerhouse that it is. One of the first things he did when he came back on board was to close every store in the U.S., all 7,100 stores, for three and a half hours, to retrain all of the baristas, all of the individuals that make the drinks. They found that the drinks were not consistently made to the quality that they desired, nor with the speed that was necessary. Customers were waiting in the line for a long time to have a drink that they were unhappy with. To be, perhaps, unhappy enough not to return, or to voice discontent in having to remake their order or refund their purchase. This temporary closing may not seem like a big deal, not in just that three and a half hours, projections are that Starbucks lost $6 million in the U.S.; but it was necessary and fundamental to reframing the situation they were in.
They also redesigned many of their stores to return them back to a classic coffee house feel. They reduced the amount of non-food and non-drink merchandise. They reduced the floor displays of CDs, books, and merchandise that were overpowering the stores. They also realized that while people knew them, they wanted them to have a greater mindshare of Starbucks. For the first time ever, they launched a national advertising campaign, print and television, to reintroduce Starbucks.
They kept things that were important to them, including health insurance. Starbucks is one of the only large companies in the U.S. that provide health insurance universally to all employees, including part-time employees. They could have saved significant costs, hundreds of millions of dollars, by reducing that or doing away with it, but they chose not to. They saw this support of employee welfare, well-being, and health as critical to what they were as a company. They've held onto those values even in challenging times, even as the voice of many stockholders suggested that they reduce health benefits expenses. They've had the courage not to do that, and to do other new things.
One of them is instant coffee, which for decades has ben viewed as the lowest of the lowest quality of coffee-something that was bought in grocery stores for several dollars per jar, or 20 cents per serving. Starbucks brought their instant coffee to market at $1 per serving. They've aimed to do it at very high quality, and have put in significant research and development and consumer testing to try and deliver a great instant product. They've done it, and they've done it well. They sell it in their stores as well as in groceries.
Starbucks also has a campaign by which they solicit customer ideas. Over the last five years, they've launched 277 customer-generated ideas. Things like free Wi-Fi-you would think to be obvious. But for many years, unless you were an AT & T customer, you could not have free Wi-Fi at Starbucks. That changed a few years ago. Customers have also brought to bear new flavor ideas, free birthday treats, happy hours, mobile payments, drive-thru service, cake pops, and a variety of other things. All under the concept of recognizing that they're in a changing and competitive global market. They're willing to listen to the customer to help reduce ambiguity and bring inspiring ideas to market.
The newest thing that they're doing is the "Starbucks evening." As of fall 2014, it's being test marketed in five cities in the U.S. The concept is that they want to bring a more elegant atmosphere, with wine, with more comfort foods and higher-end desserts with beer options and a nightlife atmosphere. How that matches customers who are on their laptops with coffee doing work at night is yet to be seen. We see experimentation, and recognizing they have tremendous assets in the real estate that they occupy, spacethat they're paying for 24/7. Is there a better alternative use for those stores during evening hours?
Now, will all of their stores go this direction in the evenings? Probably not. Will some of them be successful? I would think so. Perhaps 5% or 20% of the Starbucks stores may adopt this evening model long-term.
Innovating, trying new things, and not being comfortable as they once were will serve Starbucks well. They've seen that if you 're comfortable with the status quo, and stop innovating, you can lose 80% of your company value.
How can you improve your tolerance for ambiguity?
To understand your own tolerance for ambiguity, consider your comfort with uncertainty, with change, and with unfamiliar situations. Think about how you can improve your tolerance through experience. As you experience new things, the next time that you experience them, they're not new. You have knew know-how. You have new capabilities that you've established. You have new insights, new relationships, and new resource for next time. Trying new things beyond your comfort zone, professionally and personally, is a good way to develop your tolerance for ambiguity.
It's also helpful to talk with aspiring and active entrepreneurs about their challenges. It makes starting a new venture less lonely. It emphasizes that you're not the only one facing challenges. Within cities and regions that you're residing, there may be networks of entrepreneurs that meet periodically-perhaps socially, perhaps professionally. You can talk, share stories, share solutions, and learn from others-and thereby improve your tolerance in that context as well.
In summary, when we think about tolerance for ambiguity, it's an asset to making decisions and making complex decisions quickly and with limited information. Uncertainty, change, and the unfamiliar are the norm when you're truly innovative. It's only in trying new things, and building relationships with others-particularly with fellow entrepreneurs-that makes navigating the ambiguous entrepreneurial journey more comfortable.
Entrepreneur Spotlight on Tony Hsieh, Founder of LinkExchange and CEO of Zappos
In 1996, three 23 year-old college friends created LinkExchanged. It quickly grew to prominence in the Internet advertising space, and in 1998 was sold to Microsoft for $265 million.
Financially, Tony Hsiech never had to work again. Driven by a need for a new challenges, he invested most of his $30 million into his VentureFrogs startup incubator, which invested in Zappos.
This introduction to Zappos, an emerging online shoe retailer, as an advisor and investor ocurred when the company had practically zero sales.
Tony Hsieh believed that he could lead the firm to success in the hyper-competitive online apparel retail space, and invested his time and money to navigating the ambiguity ahead. He eventually became CEO of the company and grew sales to $1 billion annually. The company made Fortune magazine's annual "Best Companies to Work For" list, and in 2009, Zappos was acquired by Amazon.com for 1.2 billion.
What came next for Tony Hsieh, now with $400 million of personal wealth? Today, he marches on as Zappos'CEO, seeking new challenges and growth opportunities for the company. He continues to see new ways to excite customers and enerigze his employees. This is driven by his mantra of "powered by service," evidenced through Zappos' ten core values:
In summary, when we examine self-efficacy, it is a key predictor of individul performance in entrepreneurial endeavors. Now, for some of us it may be innate. For others it may be learned. For all of us, it can be improved. There are elements of our background, experiences, childhood, professional experiences, and education that influence our self-efficacy. Learning how to improve self-efficacy starts with understanding the principle, and focusing on improving for the future.
Do you exhibit high cognitive motivation?
In our discussion of cognitive motivation, we'll examine its role as an entrepreneurial motivator. We will also explore its impacts on the success entrepreneurs, and how you can improve your own cognitive motivation. This is the second element that we're exploring within the topic of entrepreneurial motivation.
When we consider the term cognitive, fundamentally it's the process of thought. When adding motivation to this term, we're addressing the question of do you enjoy problem solving? And do you use research and analysis to solve problems?
Individuals with high cognitive motivation tend to seek, acquire, and analyze information. They're researchers. They're analytics.
Individuals with low cognitive motivation typically rely on their experience, intuition, assumptions, and luck.
Eric Knight, the author of Reframe, explores cognitive motivation in the context of problem solving, and what's involved in rethinking and reframing problems on a path to developing innovative and highly effective solutions.
High cognitive motivation aligns with activities that we process in our left-brain. Information search and processing is a primary activity. Those with high cognitive motivation seek the details. They often move in a sequential order and use logic to solve problems.
Alternatively, individuals with lower cognitive motivation, the right-brained, typically think holistically. They may see the big picture and have an end result in mind. They're creative in their pursuit of problem solving, in that tasks appear random, and intuition is a key tool for their problem solving.
Solving problems via a high cognition or low cognition approach can both yield positive solutions. In entrepreneurship, the problems are often ill defined and the information is often lacking. Decisions may be relatively unprecedented. Entrepreneurs need to exercise both their left brain and right brain in problem solving.
How can we improve the classroom experience?
By illustration, in America's classroom we're trying to solve the problem of how do you better educate students, have better outcomes, have a more engaging experience, improve retention, and produce better graduates.
Integrating technology into the classroom experience is a popular approach today. Teachers generally appreciate the value of using technology to support diverse learning styles among students, and to create a more motivating environment by enhancing the material being taught.
Online courses also present a unique and novel way to learn dynamically, and to learn in a semi-customized fashion.
Gamification and social learning online are emerging techniques as well.
We see technology in the context of mobile apps, and tablets not only for homework, but also in the classroom. We also see more eBooks, digital textbooks, and open source digital books.
Learning analytics helps teachers assess the concerns and achievements of students. Teachers can monitor in real time how students are performing on tasks that are done within the class, and can attend to a specific student who may be having a specific problem. Teachers can provide personal, real-time attention rather than waiting till the end of the week or till the end of the semester to discover that a student was having problems with a certain concept.
There are also non-technology innovations emerging in classrooms at the K-12 and college levels. There is an increase in problem-based learning and project-based learning. The context of the teaching is tied to real-world problems. Real problems with companies and organizations are brought into the classroom, and may include class visits from company representatives.
There's a broad question of how we emply technology, online courses, devices, social networls, eBooks, learning analytics, etc. into a comprehensive solution for students that improves the quality and affordability of education. It's a hard problem that requires high cognitive motivation to solve.
What are the benefits of high cognitive motivation?
Individuals who have a higher need for cognitive motivation typically make better entrepreneurial decisions. If you don't like hard problems, if you expect to find the answers easily, or if you expect to have lots of precedence, then entrepreneurship is a hard way to go. If, however, you enjoy the challenge, you enjoy difficult problems, and you enjoy trying to make a puzzle fit even though you may be missing pieces, that's more aligned with the entrepreneurial path.
Individuals who have a higher need for cognition are able to recall information and connect information in different ways. They're more accurate in analyzing that information, of thinking about arguments, counter arguments, alternative solutions, and the selection of solutions within that path. They demonstrate better logical reasoning along the way. Intuition and emotion play roles, but more attention is paid to the analytics of it and the logical decisions of it.
In summary, when we think about cognitive motivation, I encourage you to pursue a high cognition approach of being detail-oriented and research driven in your problem solving, while leveraging the left brain elements of creativity and a holistic perspective.
What is your tolerance for ambiguity?
As entrepreneurs face many dynamic challenges, tolerance for ambiguity is surely an asset. We'll examine tolerance for ambiguity in the context of entrepreneurship, its impact and influence on successful new venturing, as well as how to assess your personal tolerance for ambiguity. this is the third element of our discussion of entrepreneurial motivation as it relates to strategic decision making.
Our definition of tolerance for ambiguity is the tendency to perceive ambiguous or unclear situations as acceptable, or even desirable, rather than threatening.
The need for tolerance for ambiguity in entrepreneurship is clear, because markets change, customers change, competition changes, regulations change, and politics change. When you're dealing with many different changing forces, you need to be comfortable with experiencing the unexpected. And with that, you can make complex decisions relatively quickly with limited information.
By illustration, we can examine a public company, an entrepreneurial company, but a large company that has had to improve their tolerance for ambiguity. It had to respond to change and has had struggles of late. This is a company that I expect we all know well.
In a two-year span from 2006 to 2008, 80% of their market value dissapeared. They went from a $40 stock to an $8 stock. Since then, they've rebounded under the guidance of their former CEO who returned to the company to guide its next chapter.
While not the founder of starbucks, Howard Schultz was a very early entrant with the company and built it to be the global powerhouse that it is. One of the first things he did when he came back on board was to close every store in the U.S., all 7,100 stores, for three and a half hours, to retrain all of the baristas, all of the individuals that make the drinks. They found that the drinks were not consistently made to the quality that they desired, nor with the speed that was necessary. Customers were waiting in the line for a long time to have a drink that they were unhappy with. To be, perhaps, unhappy enough not to return, or to voice discontent in having to remake their order or refund their purchase. This temporary closing may not seem like a big deal, not in just that three and a half hours, projections are that Starbucks lost $6 million in the U.S.; but it was necessary and fundamental to reframing the situation they were in.
They also redesigned many of their stores to return them back to a classic coffee house feel. They reduced the amount of non-food and non-drink merchandise. They reduced the floor displays of CDs, books, and merchandise that were overpowering the stores. They also realized that while people knew them, they wanted them to have a greater mindshare of Starbucks. For the first time ever, they launched a national advertising campaign, print and television, to reintroduce Starbucks.
They kept things that were important to them, including health insurance. Starbucks is one of the only large companies in the U.S. that provide health insurance universally to all employees, including part-time employees. They could have saved significant costs, hundreds of millions of dollars, by reducing that or doing away with it, but they chose not to. They saw this support of employee welfare, well-being, and health as critical to what they were as a company. They've held onto those values even in challenging times, even as the voice of many stockholders suggested that they reduce health benefits expenses. They've had the courage not to do that, and to do other new things.
One of them is instant coffee, which for decades has ben viewed as the lowest of the lowest quality of coffee-something that was bought in grocery stores for several dollars per jar, or 20 cents per serving. Starbucks brought their instant coffee to market at $1 per serving. They've aimed to do it at very high quality, and have put in significant research and development and consumer testing to try and deliver a great instant product. They've done it, and they've done it well. They sell it in their stores as well as in groceries.
Starbucks also has a campaign by which they solicit customer ideas. Over the last five years, they've launched 277 customer-generated ideas. Things like free Wi-Fi-you would think to be obvious. But for many years, unless you were an AT & T customer, you could not have free Wi-Fi at Starbucks. That changed a few years ago. Customers have also brought to bear new flavor ideas, free birthday treats, happy hours, mobile payments, drive-thru service, cake pops, and a variety of other things. All under the concept of recognizing that they're in a changing and competitive global market. They're willing to listen to the customer to help reduce ambiguity and bring inspiring ideas to market.
The newest thing that they're doing is the "Starbucks evening." As of fall 2014, it's being test marketed in five cities in the U.S. The concept is that they want to bring a more elegant atmosphere, with wine, with more comfort foods and higher-end desserts with beer options and a nightlife atmosphere. How that matches customers who are on their laptops with coffee doing work at night is yet to be seen. We see experimentation, and recognizing they have tremendous assets in the real estate that they occupy, spacethat they're paying for 24/7. Is there a better alternative use for those stores during evening hours?
Now, will all of their stores go this direction in the evenings? Probably not. Will some of them be successful? I would think so. Perhaps 5% or 20% of the Starbucks stores may adopt this evening model long-term.
Innovating, trying new things, and not being comfortable as they once were will serve Starbucks well. They've seen that if you 're comfortable with the status quo, and stop innovating, you can lose 80% of your company value.
How can you improve your tolerance for ambiguity?
To understand your own tolerance for ambiguity, consider your comfort with uncertainty, with change, and with unfamiliar situations. Think about how you can improve your tolerance through experience. As you experience new things, the next time that you experience them, they're not new. You have knew know-how. You have new capabilities that you've established. You have new insights, new relationships, and new resource for next time. Trying new things beyond your comfort zone, professionally and personally, is a good way to develop your tolerance for ambiguity.
It's also helpful to talk with aspiring and active entrepreneurs about their challenges. It makes starting a new venture less lonely. It emphasizes that you're not the only one facing challenges. Within cities and regions that you're residing, there may be networks of entrepreneurs that meet periodically-perhaps socially, perhaps professionally. You can talk, share stories, share solutions, and learn from others-and thereby improve your tolerance in that context as well.
In summary, when we think about tolerance for ambiguity, it's an asset to making decisions and making complex decisions quickly and with limited information. Uncertainty, change, and the unfamiliar are the norm when you're truly innovative. It's only in trying new things, and building relationships with others-particularly with fellow entrepreneurs-that makes navigating the ambiguous entrepreneurial journey more comfortable.
Entrepreneur Spotlight on Tony Hsieh, Founder of LinkExchange and CEO of Zappos
In 1996, three 23 year-old college friends created LinkExchanged. It quickly grew to prominence in the Internet advertising space, and in 1998 was sold to Microsoft for $265 million.
Financially, Tony Hsiech never had to work again. Driven by a need for a new challenges, he invested most of his $30 million into his VentureFrogs startup incubator, which invested in Zappos.
This introduction to Zappos, an emerging online shoe retailer, as an advisor and investor ocurred when the company had practically zero sales.
Tony Hsieh believed that he could lead the firm to success in the hyper-competitive online apparel retail space, and invested his time and money to navigating the ambiguity ahead. He eventually became CEO of the company and grew sales to $1 billion annually. The company made Fortune magazine's annual "Best Companies to Work For" list, and in 2009, Zappos was acquired by Amazon.com for 1.2 billion.
What came next for Tony Hsieh, now with $400 million of personal wealth? Today, he marches on as Zappos'CEO, seeking new challenges and growth opportunities for the company. He continues to see new ways to excite customers and enerigze his employees. This is driven by his mantra of "powered by service," evidenced through Zappos' ten core values:
- Deliver WOW Through Service
- Embrace and Drive Change
- Create Fun and Little Weirdness
- Be Adventurous, Creative, and Open-Minded
- Pursue Growth and Learning
- Build Open and Honest Relationships With Communication
- Build a Positive Team and Family Spirit
- Do more With Less
- Be Passionate and Determined
- Be Humble
Ideas in Action: Entrepreneurial Motivation
- Do you believe that you have the capabilities to be successful as an entrepreneur?
- Do you enjoy collecting information and doing analysis before making decisions?
- How can you increase your comfort level with making strategic decisions quickly, with limited information and high consequences?
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