Approach of an Entrepreneur (Part II)
In the last blog, I mentioned about the nervousness that possibly every entrepreneur face when starting the venture. The best part of the story was to get some clarity in thought. And then the lessons I learned hard way……………..understanding in practical life, were as under:
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…………Entrepreneurs are comfortable stretching the rules Successful entrepreneur are willing to bend the rules to get what they need: capital, able employee, contacts or whatever it takes to achieve their ends.
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Image: www.crossingnineveh.blogpost.com
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…………..Entrepreneur are prepared to make powerful enemies It is always smart to pursue opportunities that will not put entrepreneur in competition with a powerful rival – a big, entrenched company that has many resources. But this is not always possible. Entrepreneur will not seek out a David and Goliath situation, but neither will they shrink from it.
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Image: www.siliconangel.com
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…………….Entrepreneur have the patient to start small Most new venture, no matter how well planned, are experiments. Starting small gives company founders an opportunity to test and fine-tune a commercial concept before they roll it out in a major way.
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Image: www.academysf.co.uk
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……………..Entrepreneurs are willing to change strategy quickly The future never unfolds as we expect it to. Customer requirements change. Competitors respond to our initiatives with unanticipated change in price, product and incentives. New opportunity and new market for products appear out of nowhere.
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Image: www.practical-management-skills.com
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…………………..Entrepreneurs Knows how to close the deal
Successful entrepreneur knows how to seal a deal. They know what they must give up and what they can get away with for getting what they precisely want.
Compared to established corporate managers (me of past), the entrepreneur (me of future) must be comfortable with risk and not intimidated by a shortage of information. Unlike corporate counterpart, entrepreneurs are much likely to find themselves in situations which mean the difference between survival and bankruptcy. They are so close to the edge of failure that every deal has major consequences.
The entrepreneur must make the best of uncertainty and press forward. Standing still and waiting for more information is less often an option.
All the best !!!!!