Entrepreneurship - In Cup of Tea

Management Schools now offer management courses for family business management for those entrepreneurs who want to lead family business to further peak. That’s great. But being and learning has always been different in business world. How would I know whether my son would be a good businessman? I prefer – practical issues.

Lets have a bird eye view and review from great thinker on "Entrepreneurship".

Nolan Bushnell, founder of Atari and Chuck E. Cheese's says, "The critical ingredient is getting off your butt and doing something. It's as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. The true entrepreneur is a doer, not a dreamer."

Mary Kay Ash, founder of Mary Kay Cosmetics says," When you reach an obstacle, turn it into an opportunity. You have the choice. You can overcome and be a winner, or you can allow it to overcome you and be a loser. The choice is yours and yours alone. Refuse to throw in the towel. Go that extra mile that failures refuse to travel. It is far better to be exhausted from success than to be rested from failure."

Ability to taking risks, generating a lot of ideas, excellent communication with all types of people, following up like blowing wind, carving creation & vision and managing money motivates to be an entrepreneur.

Robert D. Hisrich wrote in his one book. The Word Entrepreneur in French means between-take or go-between. Hisrich and Peters also describe the term entrepreneur as an actor and a person who managed large production project. In Middle Ages entrepreneur was the person in charge of great architectural works, such as castles and fortifications, public buildings, abbeys, and cathedrals.

Identifying Realities and Characteristics of Entrepreneurship

Most entrepreneurs are educated, some have bachelor’s degree and some have master’s degree but some are highly educated.

They need to be independent because they have to take the risk to work all the hours necessary to create a new business enterprise. Instead off leave for home entrepreneur frequently continue to work into the evening, developing new business ideas.

Their goal is self-determination through endurance of the firm. Most of them take pride in creating and doing.

Entrepreneurs are known as high-risk takers. They create wide variety of ventures.

Entrepreneur tackles problems immediately with confidence. They rarely devote time to dealing with pleasing people's feelings afar what is necessary to achieving their objectives.

"I never perfected an invention that I did not think about in terms of the service it might give others... I find out what the world needs, then I proceed to invent," said Thomas Edison

I should now be aware of the kinds of skills and traits I need to cultivate before committing myself to entrepreneurs.

Marie Curie believes, "Chance favors the prepared mind."

Luck
I have to create my own luck, because luck played important role in most of the successful entrepreneur’s success.

Vision
I must have clear idea for my vision, it means where I want to go. I have to make my dreams come true. For that I have to go on my vision step by step to achieve.

Self-starter
I must have the courage to do the things that other people won't do. I am a self-starter, I like to do things on my own. I have to gather all the information, which can about my businesses and my industries. I have to verify any information i receive before i use it in making a decision.

Leader
I feel my self a good leader and I can give the orders if I have to and i usually the first to identify a problem to be overcome.

Risk
I really like the feeling of being on the edge a bit.

Responsibility
I assume responsibility because I enjoy taking charge of things and seeing them through.

When I need to be, I can be competitive. I have my own willpower and I believe in discipline I need the freedom to choose and to act according to my own perception of the actions, which result in success.

Peter F. Drucker, "The Father of Modern Management" believes "Innovation is the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or a different service. It is capable of being presented as a discipline, capable of being learned, capable of being practiced. Entrepreneurs need to search purposefully for the sources of innovation, the changes and their symptoms that indicate opportunities for successful innovation. And they need to know and to apply the principles of successful innovation."

Source and Further Readings

Concentration abilities of successful entrepreneurs- by Barry Farber
Entrepreneurship- Hisrich hand Peters
Profile of an Entrepreneur - BusinessTown.htm