Unique characteristics of the entrepreneur: Things that stand you out!

 

Today, there is the increasing awareness about entrepreneurship in the various economies of the world, such that  people aren’t confining themselves to one business. They are following one business with another. They are also seeking out the various business models that they can use that would make them successful and be able to step back from the business process when the need arises and allow it run itself. Even in emerging economies there are such a group of people known as serial entrepreneurs.They have MSI’s- MULTIPLE SOURCES OF INCOME and are never tired of looking for businesses to invest in. They also try to maintain a familiarity with the business terrain that allows for exit strategies to be thought out in the event of the time frame of the business activity expiring. Even while holding down a full time job as a journalist, I have been involved in various other business ventures which include marketing a television programme, moving clothes from one country to another for sales purposes and also what I call intellectual business activity which involves proffering management solutions to organizations that are in operational trouble as well as giving advice to companies and organizations that are willing to take on a consultant. Beyond the desire to consistently expand his business, an entrepreneur has other unique characteristics that stand him out in the crowd:

   Global perspective

        A good entrepreneur who wants to succeed over a wide area of operations, especially when different races and cultures are involved, must  appreciate the differences across cultures, learn from them, and seek to find common ground that would enable him sell his product or service to the people who would buy, no matter the country or community they belong too. We cannot rule out some products not being accepted by other groups of people because of a few peculiarities. For instance, alcoholic beverages would not be welcome among astute Moslems and even some Christians. But the modern entrepreneur needs to have a global outlook, so that he can succeed in different environments and maintain international standards in his activities. 

Entrepreneurial Spirit

       There is a phenomenon describes as the entrepreneurial spirit. The modern business person can not be afraid to do new things and put new combinations of things together to get desired results. Seeking synergies among groups that are mutually beneficial is a strong part of entrepreneurship that we can describe as the entrepreneurial spirit. The spirit is rooted in innovation, change and transformation. Everyone likes something that is new and improved, especially if it attracts more people and can be taken as the vogue.

  Enterprise-design capability

       You’ve got to be able to put deals together, structure contracts and relationships, and build new kinds of organizations. Even though are traditional business models as taught at business school, the real entrepreneur uses what works for his organization. So enterprise design capability would require the entrepreneur to shape his business and processes for efficiency and profit generation. Sometimes the environment requires

Leader as teacher

       People in an organization need to learn new things with top management (leaders) teaching them.There are always new capabilities, modern approaches and dexterity that can be learned and adapted for better results in business. One unique capability of the entrepreneur should be the ability to teach the organization new processes. This does not necessarily mean an entrepreneur should always have new skills to teach, but it could refer to the desire to connect the organization to learning processes that would consistently permit cutting edge developments and renewal.

 Fundamental values 

        Every business entity should be governed by fundamental values. Values serve as a guide to enshrine ethics in the DNA of the organization. Such ethical frameworks generate public trust and acceptability. Some of the components of the values of major organizations often include: Integrity, honesty, respect for the dignity of other people  and personal responsibility