What does it take become an Effective Entrepreneur?

Originally sent exclusively to The Letter subscribers on August 4th. Want to be the first to get my personal newsletter in your inbox every Monday at 7am? Subscribe for free here.

A couple of things to ponder this week…

Mainly around the idea that the difference between good and great is just 10%.

Any of you who have been reading this for long enough will know I'm obsessed with the word "effective".

I've also noticed that to *be* effective in most things, you usually need just 10% more effort, skill or time.

The extra 10% is where all the mastery lies.

I always want to improve my effectiveness. I want to be a better leader, understand more stuff, choose better business models (my biggest learning, with each grey hair, is that half of business success is about better models), make better decisions, and have a better network.

I want to get into a position where the PM knows who I am when I call, that Richard Branson answers my WhatsApp - or the equivalent.

I want our businesses and brands to be the best they can be. Recruit and retain our best talent.

Get better at letting B and C players go, and empower A-player talent.

So what do I need to do to be better? Well, it seems like 10% more on the below:

Here are some of the things that get me into that extra 10% mode:

Getting up early and sitting in nature. I often wake at 5 am. I dive into emails - in bed. I’ve always loved the comfort of a duvet and knuckling down to all I didn’t get done the day before.

10% more effective on this? I’ve decided to move outside with a comfy dressing gown and a cuppa, and just sit in nature; hey, it’s summer.

What's the science behind it? Couldn't give a monkey's. It just *is* good for you. I feel great for it.

My replies are better when I feel the breeze and comfort of tweets from feathered friends as the sun comes up to say hello.

I am sharper on the days I exercise. Why don’t I do some every day? Still hate it. Must be better.

Every time I read, listen, or do any brain development, I take better actions and make better decisions.

Usually instantly. Must do brain development 10% more.

Awkward conversations are awkward but always improve your life.

Why put them off? You’re going to have them eventually. Do them 10% faster.

Listing priorities and getting them done. Remove unleveraged tasks.

If you want to be effective you need to look at what you’re doing. If any task repeats, you’re swapping time for money.

I need to be doing deals, creating revenue streams and products, working on innovation marketing, and cultural recruitment.

The second I move into operations, I know I’m doing my business a disservice, as my talents lie elsewhere.

Also, sweat the small details; they offer such power.

What I mean here needs some explanation. We leaders and entrepreneurs should be doing the first 10% of action, which usually is a decision on a vision.

Then get out of the way for others better than us to do the middle 80%.

So we can get back to more decisions and growing over operating.

Slow or lack of decision-making seems to be what holds so many organisations back in my experience – or leaders being operators instead of growers.

Stupid. Can’t be done.

The real magic power is to then dive back into the last 10%.

I see some examples of when I can add huge value in the last 10% in my businesses, on really simple stuff that’s usually very cost-neutral but has a significant return on investment improvement.

My strange ways and brain can see stuff that others can’t see.

I have found the stress can stop me from focusing on the last 10%, which I must get better at repairing.

Stress being another word for pressure, and frankly, pressure is a privilege.

Just think: the universe has chosen you to sort some stuff out, embrace that pressure.

We are stronger than we think, and when we overcome, we become stronger – how wonderful.

Embrace the pressure head-on, don’t delay it; you’ll deal with it anyway.

Don’t put it off. Be 10% better.

And lastly - I have the heart of a lion and a lifetime ban from the Zoo

To your continued success,

James

PS. Business Masterclass 2025 is done, and what an amazing couple of days it was! Missed out? Don’t worry — our Buying Businesses seminar is coming up in just a couple of months. If you’d like to learn how I’ve acquired businesses over the last 20 years, this is the event for you.