SuccessandFailure My Mistakes and my Success Factors as an Entrepreneur Wilfried Franz, Berlin
SuccessandFailure The Bible: Test everything! Keep what is good! 1 Thessalonians 5, 21
SuccessandFailureThree Ways to Become Wise • By reflection – the most noble way • By imitation – the easiest way • By experience – the most painful way But nothing can replace experience!
SuccessandFailureThe great question What do I have to do to remain competitive and successful even if “Toy’s R us” comes to Germany?
The question I asked God ”God – if you exist, help me to understand what you want to tell me for my individual situation!“
What I realized And we know that in all things God works for the good of those who love him. The Bible (Romans 8, 28)
What I realized Martin Luther: Work as if all your prayers were in vain, and pray as if all your work was in vain.
Jesus’ First Answer “This is part of my plan for your life. It’s no punishment. Wait and trust me.”
Jesus’ Second Answer ”You need that!“
Jesus’ Third Answer “Don’t be afraid! I hold you in my hand, so that you will not fall!”
What I learned from defeat, crises and failure 1. Admit your mistakes and do not blame others! 2. Failure has helped me to see what my limitations are.
What I learned from defeat, crises and failure 3. Do not suppress your feelings (anger, fear…) and talk with God about them! 4. Keep up mutual trust in conflicts! 5. Don‘t stay alone and get gloomy.
What I learned from defeat, crises and failure 6. Nothing can separate me from God‘s love – neither success nor failure, neither victory nor defeat!
What I learned from defeat, crises and failure 7. The most valuable asset in life is a deep and sound relation to God and good relations to other people!
SuccessandFailureMisconceptions & Mistakes 1. A Misconception: It is all a question of manpower and financial presentability.
SuccessandFailureMisconceptions & Mistakes 2. A Mistake: Instead of growing slowly with a high capital ratio, I focused on rapid growth with outside capital which meant that I got into debt.
SuccessandFailureMisconceptions & Mistakes 3. Mistake: I invested too much of the company‘s money in rentable real estate for my retirement provision.
SuccessandFailureMisconceptions & Mistakes 4. Misconception: Everything gets more expensive.
SuccessandFailureMisconceptions & Mistakes 5. Misconception: Everything will increase: expansion, sales volume and returns.
SuccessandFailureMisconceptions & Mistakes 6. Mistake: I should have asked for God and his good plan for my life much earlier.
SuccessandFailureMisconceptions & Mistakes 7. Mistake: Sometimes I made important and far-reaching decisions in a rush.
SuccessandFailureMisconceptions & Mistakes 8. Mistake: When the company was growing, I entrusted staff members with responsibilities I should have known they were not equal to live up to.
SuccessandFailureMisconceptions & Mistakes 9. Mistake: Instead of employing new staff members on the basis of detailed job descriptions, I too often hired people because I thought that God had put them in my way.
SuccessandFailureMisconceptions & Mistakes Saint-Exupéry : ”You don’t tell the truth to yourself, the truth is being told to you.“
SuccessandFailureMisconceptions & Mistakes 10. Mistake: For decades it was my principle as a Christian, not to woo away employees from other companies.
SuccessandFailureSuccess Factors 1. Well-Prepared Negotiations a) What are my goals? b) What are the needs of my negotiation partner? c) How would I behave if I was in the shoes of my negotiation partner?
SuccessandFailureSuccess Factors 1. Well-Prepared Negotiations d) How can I reach my goals? e) Which objective arguments do I have? f) Which psychological arguments do I have?
SuccessandFailureSuccess Factors 1. Well-Prepared Negotiations g) In which situations should I yield to the demands? h) When can I propose a compromise? i ) How can I disarm the arguments of my partners even before they are uttered?
SuccessandFailureSuccess Factors 1. Well-Prepared Negotiations j ) Which is the smartest approach? k) Which issues should I clarify for myself in advance? l ) Which options do I have if we do not come to an agreement?
SuccessandFailureSuccess Factors 2. Success Factor A promise is a promise.
SuccessandFailureSuccess Factors Three steps • Be mindful of your thoughts – they will become words! • Be mindful of your words – they will become actions! • Be mindful of your actions – people will judge you by your actions!
SuccessandFailure 3. Success Factor Employees who think in terms of the company.
SuccessandFailure 4. Success Factor Profit comes from purchasing.
SuccessandFailure 5. Success Factor No success without advertising! The best advertisement is word-of-mouth recommendation.
SuccessandFailure 6. Success Factor Do not let your weaknesses become apparent; concentrate on your strengths! You can not please everybody if you want to do something right!
SuccessandFailure 7. Success Factor Trust in God like a child and desire deeply not to diverge from God‘s good way and plan for you.
SuccessandFailure 8. Success Factor Spend time with God and for God. God will repay you for it.
SuccessandFailure 9. Success Factor What do you need to purify your life of, so that God can bless you as fully as he intends to?
SuccessandFailure 10. Success Factor Never give up!
Summary God is not always answering my prayers. Should that be a reason not to trust him in all things?
SuccessandFailureSummary 1. ”Googleing“ can not make up for the lack of experience! 2. The most valuable asset in life is a deep and sound relation to God and good relations to other people.