SPONSOR AND PANELIST, JRB BUSINESS ENTERPRISES
The 2017 MoneyBaltimore Committee interviewed Jeff Bryce and asked him a few questions. Check out his bio and responses below.
Bryce is a trained and experienced manager, analyst, and performer seeking to create lasting value in a variety of endeavors. The career focus on intellectual property rights, professional royalty administration, data analysis, and music performance is supported by years of practice and study, producing meaningful results for employers, customers, and other stakeholders. And with an MBA and an MS in management, Bryce is qualified to elevate both for-profit and not-for-profit operations. Currently available to take your enterprise to the next level!
What is the most important thing a new entrepreneur can do to be successful?
Network! All entrepreneurs in all businesses need to network, and that networking needs to be underway well before one commits exclusively to self-employment. No one can effectively “go it alone” and grow.
To say “network!” seems almost too simple. Sure, we make and build relationships, and hopefully something fruitful and productive comes of those relationships. A strategic approach to networking allows us to focus on critical relationships and paths, but also allows us to be honest and ethical at the same time. Ideally, we are available to our network as much as our network is available to us, and not only in times of need.
A good network allows us to conquer many, varied business challenges. To paraphrase my old band fraternity a good network allows us to identify a need; organize the resources; and produce a quality, needed service. As businesses are processes, a good business person is only as good as his or her network.
“Focus on what you control” is the best advice I ever heard for any context, but it is especially useful in the business world. To focus effectively on what we control, we have to consider carefully our priorities, and our range of motion in carrying out those priorities. When wondering, “What should I do next?” especially in a time of worry, focusing on what we control is a step in organizing and solving our business problem.
Identifying what we control has some immediate “B school” style real world applications as well. For instance, the concept of “sunk costs” helps us to identify those efforts and expenses that are no longer relevant to future decision making. Those are in the past, and cannot be controlled or recovered. Then we consider the concept of “opportunity cost,” where we evaluate the value of the next most valuable activity that I am not undertaking. Prioritization of time is something we control. And then we consider the concept of the “time value of money,” where the value of an activity can grow or decrease over a period of time. Risk can be influenced if not controlled.
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