Entrepreneurial Thinking
Entrepreneurial Thinking
Entrepreneurs should be business oriented in the sense that they 'see'opportunities and develop an ability to 'grab' these opportunities fast before they are lost. Here lies the real challenge of entrepreneurship: the paradox of being fast enough to grab an opportunity while doing a calculated risk analysis? I personally think that tuition or gut feeling play a part here. Entrepreneurs do have that sense of potential success that sometimes gives them direction and an advance alert to which way they should go.
Because of the fierce competition entrepreneurs are always going to get in the market, I believe they have to develop their own 'competitive advantage' not only in filling a market demand in a non-traditional way, but in becoming too much 'customer driven', a business competitive edge that would single them out from competition and bigger business entities in the market.In the 21st century, only customer driven organizations will stay afloat and win the 'who get the customer first'race.
Flexibility is another critical competence that entrepreneurs should develop in order for them to be able to cope with the constant change in their markets' dynamics, customers' tastes and demands, competition practices, and strategic alliances' approaches. Their business plans should be built around flexibility and fast response to environmental changes.
Finally, entrepreneurs need to develop an 'acquired taste' for success. This would help them distaste failure and crave for sustainable success that is built around their customers loyalty.
Entrepreneurial Thinking - To learn more about this author, visit Dr. Fathi El-Nadi's Website.
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There is no doubt that risk taking is essential to take a final decision to invest in a project, but without 'calculation' that risk turns into a dangerous adventure in no man's land which may abort a potential success story.
Entrepreneurs should be business oriented in the sense that they 'see'opportunities and develop an ability to 'grab' these opportunities fast before they are lost. Here lies the real challenge of entrepreneurship: the paradox of being fast enough to grab an opportunity while doing a calculated risk analysis? I personally think that tuition or gut feeling play a part here. Entrepreneurs do have that sense of potential success that sometimes gives them direction and an advance alert to which way they should go.
Because of the fierce competition entrepreneurs are always going to get in the market, I believe they have to develop their own 'competitive advantage' not only in filling a market demand in a non-traditional way, but in becoming too much 'customer driven', a business competitive edge that would single them out from competition and bigger business entities in the market.In the 21st century, only customer driven organizations will stay afloat and win the 'who get the customer first'race.
Flexibility is another critical competence that entrepreneurs should develop in order for them to be able to cope with the constant change in their markets' dynamics, customers' tastes and demands, competition practices, and strategic alliances' approaches. Their business plans should be built around flexibility and fast response to environmental changes.
Finally, entrepreneurs need to develop an 'acquired taste' for success. This would help them distaste failure and crave for sustainable success that is built around their customers loyalty.
Entrepreneurial Thinking - To learn more about this author, visit Dr. Fathi El-Nadi's Website.
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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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