Because people invest in people, it is important for potential entrepreneurs to assess whether their personality and beliefs are compatible with entrepreneurship. Spending some time in the introspection stage is a good exercise and can help to minimize the odds of choosing the wrong type of business. Some critical issues...
Management
Certain behaviours prove to be detrimental to entrepreneurs. These behaviours are often found in less successful entrepreneurs and should be avoided. Greed Entrepreneurs who display greed rarely share the business’s successes with others, including employees. They tend to hold out for the highest price, even at the cost of losing...
Increasingly, most entrepreneurs have the intense desire to start a business long before they know what the business will be. It is that internal need to be independent and create something, “the burning gut,” that drives entrepreneurship. The reason why passion is so important is that starting a business is...
Given the widespread public interest in entrepreneurs and the frequency with which they are discussed in the media, it is not surprising that stereotypes have developed around them. Not all of those stereotypes are flattering and most are simply false. MYTH 1: Entrepreneurs Start Business Solely To Make Money Entrepreneurs...
Opportunity Recognition For entrepreneurs to exist and thrive there must be opportunities to develop new goods and services, means to gather the resources to produce these good and services, mechanisms to bring them to market at a price greater than their cost of production. What differentiates entrepreneurial opportunities from other...
Entrepreneurs start a business for a variety of reasons. Sometimes their progress is blocked at the company, for which they work, or they see a better way to do something, or they just want to see whether an idea will work. Some entrepreneurs have started their business after taking a...
In general, creative people are open to information and experience, have high energy, can be personally assertive and even domineering, react emotionally to events, are impulsive, are more interested in music and art than in sports, and finally are very motivated to prove themselves ( i.e., are concerned with personal...
It is dangerous to swim with sharks, but not all sharks are found in water. Some people may behave like sharks. While no one wants to swim with sharks, it is an occupational hazard for certain people. For those who must swim with sharks, it can be essential to follow...
There are several things leaders can do to increase their own and their followers’ creativity. One popular technique for stimulating creative thinking in groups is called Brainstorming. Brainstorming is a technique designed to enhance the creative potential of any group trying to solve a problem, Leaders should use the following...
Who Are Superiors? Superiors are those individuals with relatively more power and authority than other members of a group. Thus, superiors could be teachers, band directors, coaches, team captains, heads of committees, or fist-line supervisors. Needless to say, there are a number of advantages to having a good working relationship...
