INTRODUCTION
Are you an entrepreneur? The Webster's New World Dictionary defines an entrepreneur as "one who organizes and manages a business and undertakes the risk for the sake of profit.” Do you have what it takes to introduce a new product and a new method of production? Can you open a new market, conquer a new source of raw materials, and reorganize an industry in a new way? If those features define who you are, then, you’re an entrepreneur.
Do you know how important you are to the world? The next paragraph tells you how important you are to your nation and to the whole wide world, as an entrepreneur.
The question of why some nations are rich and others are poor has been at the center of economic debate for over two centuries. While the post-WWII Keynesian dominated discussion of economic development focused on and emphasized the importance of such factors as foreign aid and government planning, it is now widely agreed that the entrepreneur is the prime driver of economic progress (Kasper & Streit, 1998: 1-23; Leff, 1979).
The above paragraph shows the importance of entrepreneurs to all nations of the world. Entrepreneurs are job creators, new products developers, new production process initiators, and they are also market leaders. To be where you are supposed to be as an entrepreneur you must possess some worthwhile qualities.
QUALITIES OF HIGH FLYING ENTREPRENEURS
The rare qualities possess by high flying entrepreneurs are listed below.
a) Initiative: Ability to do things before being told, forced or by events.
b) Assertiveness: Firmness and ability to tell others what they need to do directly.
c) Excellent interpersonal relationship: Make contact s easily and get along very well with people.
d) Obsess with high quality: Always demand for top quality product, service and raw materials.
e) Opportunity savvy: They seize unusual opportunities all the time and also capitalize on new opportunities.
f) Risk taking: Confidence in breaking new grounds and investing in unfamiliar terrains.
g) Innovation: Skillful at introducing new ideas.
h) Efficiency oriented: They concentrate on getting the right things done, first time with minimum cost and highest possible quality.
i) Uniqueness: They are unique in all respects. They initiate ideas that others follow or adapt.
j) Create and utilize networks: They make the best use of existing networks and create new networks when need be.
k) Manage growth: They are not always carried away by current or past successes but are rather skillful at managing growth and success well.
l) Motivate organizational members: They have a clear understanding of people’s needs and use same to drive them for optimal performance at work.
m) Vision: Entrepreneurs are visionaries who dream dreams, think ahead and initiate positive changes to take advantage of opportunities.
n) Leadership: They are pacesetters in their line of business and industry. They give directions that others are to follow.
o) Expansion orientation: Entrepreneurs always concentrate on expanding their business scope beyond the present level. They are addicted to continuous growth and expansion of their business.
CONCLUSION
The starting point towards excelling as an entrepreneur is to possess the required qualities. Therefore, as an entrepreneur, you must develop all the identified qualities so as to be able to set the pace for others and thus become a high flying entrepreneur.
References:
Kasper, W. and Streit, M.E (1998). Institutional Economics: Social Order and
Public Policy. United Kingdom: Edward Elgar Publishing.
Leff, N.A (1979) Entrepreneurship and Economic Development: The Problem
Revisited. Journal of Economic Literature 17, 46--64.
Weaver, K., M, and Solomon, G.T (2003) “Are We Teaching Entrepreneurship to Small Businesses and Small Business to Entrepreneurs?” Proceedings: 48th Conference of the International Council for Small Business Belfast, Northern Ireland.
About the Author
Ajiboro Ayodeji is a Chartered HR practitioner based in Lagos, Nigeria. His areas of interest are Human Resource, Training, and Entrepreneurship Advisory Services. Tel: 2348027807452. Email: hutrenconsulting@gmail.com.
© Hutren Consulting 2011
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