Because Intelligence Is The New Sexy!
In the following section, you will find out what is an entrepreneur, what types of entrepreneur you can be, what are the skills required and few more information that we think you should know to understand the world of entrepreneurs. If you aren't one already, that should enlighten you to find out if this is what you really wish to be and if this is you!
There are many meanings of the term ‘entrepreneurship’. After attentively discussing all the available ones, we can conclude that entrepreneurship is a system of operating business in which opportunities existing within the scope of a market are exploited.
Entrepreneurs are business people who can detect and sense the availability of business opportunities in any given scenario. They will then utilize these opportunities to create new products by employing new production methods in different markets. They will also function in different ways by using various resources who will give them profit.
Based on their working relationship with the business environment they are functioning in, various types of entrepreneurs can be found. The chief categories are these four types of entrepreneurs, i.e. ● Innovative entrepreneurs, ● Imitating Entrepreneurs, ● Fabian Entrepreneurs, and ● Drone Entrepreneurs. Let us now discuss each of them in detail.
Entrepreneurs fulfill the following three dominant roles − ● Economic Change ● Social Change ● Technological Change These are referred to as behavioral roles. All entrepreneurs have these common characteristics and decide to become an entrepreneur due to the factors or circumstances in their lives which made them think the way they do.
Just like entrepreneurs and intrapreneurs, we also have a “technopreneur”, who is an individual interested in bringing innovations thorough technology, and then using the same technology to build a successful business empire.
There are many possible situations where a potential entrepreneur doesn’t get a chance to establish or fund his or her own business and is forced to work in an organization. In this case they are referred to as ‘Intrepreneurs’ i.e. entrepreneurs within an organization. These individuals are also entrepreneurs because they don’t share the typical “employer employee” relationship with their bosses; instead, they operate just as collaborators and are treated as visionaries in the organization.
Apart from the above-mentioned roles, there are some specific entrepreneurial roles that a person is supposed to fill up in his duties of an entrepreneur. These are divided into three categories, which are as follows − ● Social Roles, ● Economic Roles, and ● Technological Roles. Let us now discuss each of them in detail.
What makes someone a successful entrepreneur? It certainly helps to have strong technology skills or expertise in a key area, but these are not defining characteristics of entrepreneurship. Instead, the key qualities are traits such as creativity, the ability to keep going in the face of hardship, and the social skills needed to build great teams.
Motivation is the driving force within people that get them to act in the ways they do. Entrepreneurial motivations are necessary steps of getting individuals to become entrepreneurs. Scholars have conducted various researches on entrepreneurial motivations and have come up with several factors that motivate people to become entrepreneurs.
There's a question that haunts every would-be entrepreneur - and actual entrepreneurs - every day: "How do I know if I have what it takes?" Yes, the Internet is full of ideas, tips, tricks and even awesome quotes. But do you actually have the skills? Find out -- here are 17 skills every entrepreneur must have to be successful.
There are many non-motivational factors that also influence entrepreneurship. Some of the most prominent of them are as follows − ● Unsatisfactory work environment ● Unwanted career transition ● Positive pull influences
Entrepreneurs realize that they should engage in activities or tasks where they must share a high degree of individual responsibility for outcomes. Hence, they need individual skill and effort to design plans that have moderate or less than moderate risk.
Risk-taking propensity is one of the most eminent features in the world of entrepreneurship. It is defined as the willingness to take moderate risks.
An entrepreneur is someone who is bringing his own vision into a world where such an idea has never existed. He needs to realize that there will be many loopholes in his idea which may place him in the grey areas while explaining his concept to others.
Goal setting is directly related with entrepreneurship. To get success, proper goal setting in personal and professional level is important. An entrepreneur does this by following proper strategy and implementation and not just by listing down what he wants to do. It demands an emotional and intellectual balance to be achieved successfully.
Sensory Gating is a process that the brain uses to adjust to stimuli. Our brain has a direct connection to filter out distracting stimuli and performance. Negative emotions like stress, anxiety and depression can switch the chemistry of the brain and limit the effectiveness of sensory gating.
Goals and objectives motivate people and help them to work in the right direction. This helps them to focus on short term goals by giving them enough time to achieve them. In other words, the strategy for your goals should be SMART, which when elaborated in this context means −
It is always a good idea to keep a track of how much money you have spent and the time spent towards your goal, as this will help you analyze how productive you are. This will also help you examine and adjust your priorities and have a clear mindset towards your goals.
The 80/20 rule states that 80 percent of our success comes from only 20 percent of our actions. In simple words, it is important to focus more on the 20 percent which demands the actions to de-bone for the 80% success. Plan, prioritize and start working on the 20%.
Sometimes we are busy handling things which tend to be important, but are not actually that important. The best example of this situation is the distracted zone. These tasks may seem important for people around, but they don’t help you to meet your goals.
Presentation is a way to represent your idea through pictures, but it needs excellent communication skills too. Effective presentation can help your business in growth. Once you explain everything digitally in a conference hall, everyone likes your product.
Communication is a way to make interaction between people. Entrepreneurs always try to improve their communication skills because it will assist them in sharing their ideas and presenting them clearly and to constantly work in a better way with their staff, team members, clients and colleagues.
A careful decision must be made to move on to a position involving leadership. This means that, entrepreneurs should begin to inherit attributes of great leaders from now onward. This can boost entrepreneurs to be capable of thriving in their varied roles in the organization
1. “Doing the right thing is more important than doing the thing right.” 2. “If you want something new, you have to stop doing something old.” 3. “There is nothing quite so useless as doing with great efficiency something that should not be done at all.” 4. “What gets measured gets improved.” 5. “Results are gained by exploiting opportunities, not by solving problems.” 6. “So much of what we call management consists of making it difficult for people to work.” 7. “People who don't take risks generally make about two big mistakes a year. People who do take risks generally make about two big mistakes a year.” 8. “Meetings are by definition a concession to a deficient organization. For one either meets or one works. One cannot do both at the same time.” 9. “Long-range planning does not deal with the future decisions, but with the future of present decisions.” 10. "Management is doing things right. Leadership is doing the right things"
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