Who is an entrepreneur? Various definitions have been attempted depending on which concept one is considering. An entrepreneur is the one who control every stage of production. He determines the direction of the business. It is only when he shows the green light that others follow. A major function of an entrepreneur as described in elementary economics is risk taking and nobody will take the risk for him. An entrepreneur is a visionary, leader, manager and decision taker. He accepts responsibility for success or failure of the ventures, successful entrepreneur are very daring.
They create the opportunities other people only support and encourage them to make the opportunities happen. The business environment (micro and Macro) would naturally be turbulent and competitive. It is the entrepreneur to navigate and exploit the fluid marketing environment with the aim of distils and harnesses the available opportunities. A born entrepreneur sees opportunity in every seeming problem or difficulty. He never sees failure rather he sees another way of doing the same things.
A GOOD ENTREPRENEUR MUST HAVE VISION / MISSION OF PURPOSE: - The ideal entrepreneur should have vision and mission, a sense of purpose and direction, he should develop and maintain tenacity of purpose, be persevering and be able to work through thick and thin weathering the storm.
GOAL ORIENTED: - You should always remain focused, knowing that setting up and running a new system is not something one can do in a lackadaisical manner. It calls for a lot of discipline and hard work. He should have a clear cut goal not lazy or cloudy. You should develop the ability to overcome all obstacles, turning every trial into triumph.
CONTINOUS LEARNING PROCESS: - By learning, i.e. the ability to draw on present and past expenses and use them to shape the future. An entrepreneur should be eager to learn new things, read as many book, magazines and newspapers that comes his way. Gather as much skills as possible about his chosen line of business and be able to translate this skill into something practical. Business is all about practice, not theory.
An understanding of human nature is crucial to success business. Therefore the entrepreneur needs a working knowledge of psychology or sociology or behavioural analysis so that he can get along with people without much difficulty.
He should be a good mixer, knowing when to talk, how to talk and when not to talk in his dealings with people. When it is business it, should be strictly business and not mix it with social issues.
POSITIVE THINKERS: - A lot has been written in the power of positive thinking and its contribution to success. Negative thought impedes growth and success. The negative thinker sees all sorts of obstacles on his way. He sees only impossibilities, that is not the proper entrepreneur, because how can he lead and inspire others. If he cannot lead himself, does not believe in himself or the business the represents?
HONESTY: - Honesty is very important because of the very nature of the society. We live in a society of fraud i.e a low trust society where fraudulent is the order of day.
Because the society is disarray, people trend to be sceptical about just everything. Trust is lacking. Trust is however, the foundation of business, no meaningful business relationship can take place in the absence of trust. So the successful entrepreneur must build trust and maker it a part of his way of life from the word go.
TIME MANAGEMENT :-The successful entrepreneur is a good time manager, the time is always a scare commodity, effective time management is a skill, which has to be acquired it is often said that time is money, meaning that investment of time in a business is capable of generating money in the future. Beware of time robbers, such as TV and other worthless activities that consume time needlessly “You cannot invest what you have consumed”.
BE A RISK MANAGER: - Risk is always a part and parcel of every business venture. Risk and venture are closely related in the business platform.
The entrepreneur manages risks in the sense of controlling it or timing it down to an acceptable level.
THINK STRATEGICALLY: - Have mission and vision statements reviewed from time to time. Prevent problem, do not just solve them, have a business plan and keep to it. Keep production cost as how as possible. Maintain good relationship with your banker and always be flexible and creative. When dealing with business problem, keep the working environment conducive, motivate your staff and avoid counter productive actions.
Conclusion, in businesses, reaching and maintaining goal is a must from corporate stand point only. Those organisations that capable to adapt to the challenges of their environment will survive in the market place. All good entrepreneurs have been seen as innovative, creative, dogged, honest, hard working, humane, diligent, dedicated and transparent. These are the traits all entrepreneurs should imbibe
No comments:
Post a Comment