Entrepreneur Definition: Be an Extraordinary Entrepreneur.
Great entrepreneurs are extraordinary leaders. They invest primarily in people and not in ideas. By backing the people, they can get rapid growth and big returns they strive for.
The hard part is the leadership required to motivate all the players:
An extraordinary leader seems to handle opponents with ease. Once the opposition starts noticing the great leader, they will prevent him from growing, because he might take market share away from them.
Here are seven points on how to accelerate your leadership qualities to become a great entrepreneur.
Burning forces to get you on the go. Urgency and wish are the two main forces to get you going and any business aspect should change without a crisis.
Small successes start snowballing into bigger successes and eventually the business roles unstoppable down the hill. Not even drag or friction will hold the business back.
Big successful businesses have the winning recipes. These are the frameworks and you have to use new tools and strategies to complement the frameworks.
The extraordinary leader needs being coached by successful coaches. There is no shortage of coaching being done. They are advisors, team members and even customers. The leader needs the support of his teammates. He should build a trust relationship with his team.
As an extraordinary leader you will have some imperfections. Do not hide it behind a mask, but look for help where you need it. People are very willing to help.
See yourself as other team members see you. Do not expect being the perfect leader on the first day. You will develop qualities as time goes by. Have a lot of patience and improve all the time. Eventually the task to lead will become easier and more natural for you.
You are in the middle as an extraordinary Leader. The up-line will be the board of directors, the investors, lawyers, auditors and engineers. The down-line will be your internal teams running your business as well as your external partners and the customers.
Here are five more themes to help you being the ideal entrepreneur leader:
The focus on the market content is very important.
When you show your staff your requirements, have a lot of patience, and make sure they know exactly what you expect from them. Let them practice until it is perfect. You will reap the benefits and have more time available.
Work together with your team and your staff. Do not compete against them. You will have a great team to work with.
Make your team and staff independent. They have to think for themselves. Do not expect perfection in the first round, but with your guidance it will improve.
Emphasize for the positive and discourage any negative aspects that should arise. Encourage your team and staff instead of criticizing them.
Interesting reading: The Creator's Code: The Six Essential Skills of Extraordinary Entrepreneurs by Amy Wilkinson.
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What is an Entrepreneur by Design?
When you are small, and your parents happen to be entrepreneurs, you can pick up a lot of knowledge and advice by just listening to conversations between your parents and their co-workers and business associates.
Starting to think out of the Box! Try to get the whole picture and see where there are possibilities at other places and other countries. How can you expand your vision to include the whole world?
Entrepreneurs tend to be very independent. They do not want to look other people in the eye for jobs and favors. They would rather go without or make another plan to become self sufficient. Rightly so! When they become dependant on other people they could get hurt financially or in other ways.
Whenever you get your first contract, having done it to the best of your ability, you could be very proud of your achievement! This contract could be followed up by further contracts. The more contracts you complete, the more you learn, and the more independent you become. You also get more self confidence and eventually become an expert on your chosen contracts. When you have learnt you will remember those lessons for life, and it will become second nature.
With a positive attitude you will go a far way. Solutions will be easier for you to reach, and you will enjoy every minute of your contracts. It will not be a problem for you to get up in the mornings to go to work.
Sometimes things just seem to go wrong. If it turns out to be a dead horse, abandon the problem and carry on with being productive.
Surround yourself with the best contractors you can afford. They might prove to be expensive, but remember, they are already professionals whilst if you go for cheaper contractors, they might cost you dearly in the end.
Here is your secret to success. Deliver your product on time. This could mean that you have to work hard and it could be for long hours. Be sure to stay within the budget. This budget can be easily exceeded, and it needs a lot of discipline and creativity to stay within the numbers. Always be friendly and efficient. Remember, you are only as good as your last job.
Look after your staff and employees and contractors who work for you. If they are positive you have a lot of brain power and willing hands to complete the contract.
With the economy as tight as it is now you have to think hard in order to make things more affordable. The Far East is very reasonable with their prices, and their designs are so nice. Try to put together a package deal to keep prices down.
Somewhere you have learned your trade. Maybe it was from an uncle, college or a friend. Out of gratitude you should give a little back. There are lots of young people who have talent and need a break. Look around and help somebody who might be able to help you.
Sometimes you fall out of love with what you are doing. The product might be right, but your passion is no longer with you. Stop in what you are doing and find something that can rekindle the passion you had in your life.
Be very careful about money, but spoil yourself. There are little things that are dear to you. Invest in these and be happy. Remember, you are working very hard to achieve success.
When you start making money, a good idea is to invest in commercial and residential property. Also invest in where your passion lies. Maybe you are a yacht fanatic. Maybe you are a pilot to be.
All the best of success for your entrepreneurship!
What is Entrepreneurship Definition?
Entrepreneurship Definition is a complex concept, hard to spell and hard to say.The word in itself is very intimidating. We can’t agree on what entrepreneurship is. Since we can’t agree here is the definition.Entrepreneurship is business building for your own interests.
What elements do you need to enable it to work?
Entrepreneurship is the pursuit of opportunity without regard to the resources controlled.
What does it mean?
An entrepreneur sees an opportunity and is going determined to make it happen. He is without doubt going to find a way to do it.
Entrepreneurs require three things to control and utilize in order to make it work.
They need an Opportunity, Resources and a Team.
Take the story of facebook.
The Sketch on the left illustrates: The Opportunity, Resources and the Team is a juggling act. The Founder Mark Zuckerberger is the bottom pillar of a see saw. The whole system is balancing on a knife edge.
If the Opportunity is too big, the whole see saw will lean over towards the opportunity side and it will be totally out of balance. The team will be too small to cope with the new demands as well as the Resources not being enough. For instance, the money will run out as well as the equipment will not be able to cope with an expanding market.
Mark just had a small team, he and his four dorm mates.
Mark also didn’t have a lot of resources.
They saw that they had a big opportunity.
They had a big opportunity with a small team and virtually no money(resources). Opportunity was out of balance with resources and team. To make things work, Mark made the Opportunity smaller and it stretched over half of the students on the campus.
As the resources grew and the team grew, the opportunity grew as well when he involved more schools.
Facebook has grown into a global social networking website serving millions of people.
Look at Opportunity
How big is the opportunity?
What Resources you will need
Who will belong to your Team
You need a Business Plan
as a way to investigate these three things, the Opportunity, Resources and Team. Uncertainty is the gaps in between.
So, entrepreneurship is your act of identifying the opportunity, finding the resources and the team to take advantage of that opportunity.
If you want to start your online start-up, click here for a step by step method to get started without wasting any time.
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