For Our Business growth, Be like an Entrepreneur is the topic to be discussed. Reasons for this, it will be motivation and inspiring content that will promote our business and expand it more. You might be an entrepreneur already but lacking on some characteristic of an entrepreneur, this is a boast for greatness and success. If you have a startups idea, Be like an entrepreneur and promote that idea for greater gain. Let start with who is an entrepreneur and features, one should abide to expand his business.
Who is an Entrepreneur?
There is no definite definition of who entrepreneur is because the understanding of this concept keep expanding. Before, Entrepreneurs are known as original business owners, who had insight and take calculative risks to establish such business interests and makes profit from the financial rewards over the year but now, Entrepreneur might not be the real owner of the business venture but those with innovative ideas, which promotes a known venture (i.into bigger economic level. But in simplest form, An entrepreneur must be innovative so that the business will be lucrative and grow efficiently.
Both groups or other school of thoughts have similar characteristic or traits of the entrepreneur which influences their business. Those characteristics include:
Vision and Drive.
Entrepreneur know exactly what they want and how they want to do it. They have a clear insight and take good advantage of such vision and work it out. They have great ability to identify rare opportunity and take a bold step towards that and makes it happen. For instance, Steve Job, an american Tech guru proposed a new idea of smartphones when it is not popular but there is a great possibilities for the development of smartphones. He have a clear vision of what his ideas are and know exactly how to get it working. His startups make up great minds and astute business personalities which work tirelessly on the idea of smartphones with partnership with microsoft corporationfor softwares and boom! Smartphone rules the world now and more greater innovations are coming.
Entrepreneur have drives and bold steps which are conquer over fear of starting new or challenges of running their business. With their ideas, they work harder and smartly for the business to grow and expand favourably.
Adaptability and flexibility
The business terrain changes constantly. Entrepreneur knows this and adapt their strategies so as to be relevent and successful.
They can adjust their plans and approach with new ideas based on ever-changing market indexes and trends which helps to win over competition.
Also, Entrepreneurs anticipate future trends, view them as market gaps and then formulates innovative policies to meet their customers needs.
Risk Takers.
Entrepreneurs take risk to be successful most time. Often end in bankruptcy as a risk-taker when the ideas are not successful but it does not deter them as they keep taking bold step toward greatness. They have the ability to assess the risks involved and make informed decision on how best to handle them.
During the recent money crunch due to change of banknotes in Nigeria, Many business collapses and some are pleading for survival during the capital recession.
Many people become wealthy because they took risk and complete the banknotes which is still in operation.
Even in failure, Entrepreneur learn from their mistakes and become innovative to stay relevant in business.
Passion And Determination.
Entrepreneurs turn their passion into business venture and determined at all cost to make it successful. With this character, they overcome setbacks and view it as a stepping stone for greatness because they serves as learning avenues and practical classes where passion are turned into reality.
Also, Becoming passion and satisfied about the business, Entrepreneur give all their strength toward the growth. By developing strong sense of Perseverance and determination which results in hard work and smartly.
In the success story of Aliko Dangote, richest black man on earth. He was passionate about the grain business started by his grandfather and headed by his uncle. After his schooling in Cairo, where he was tutored in business model and theories came back and turned the business into an empire. Changed the scaling of their family business to span across nigerian shores and beyond. He works very hard and determined to win over all challenges and setbacks for greatness. He is a worthy Entrepreneur to be emulated.
Networking and Relationship building.
Steve Job and Aliko Dangote mentioned above did not achieve their feat alone. They involve other good heads via building a great social ties across all their interest for their business growth.
Steve Job related with Bill gate in good business terms making it possible for both to develop smartphone of great repute. At onset, almost all smartphone uses android softwares from microsoft corporation so as the product are sold at their benefit and profit.
Aliko Dangote have successive Nigerian governmental backing making his business empire to wax stronger everytime. For instance, Nigeria's border with other west africa countries was closed during buhari's regime but Dangote's was excused and businesses was thriving.
Good brand ambassadors and internet celebrity are used for advertisement of the product so that many customers are target and sales will be improved.
Good relationship with radio, Television and other mass media will improves the business outreaching and publicity policies so as to get their products to their customers.
Creative and Innovative.
Entrepreneur are very creative so that their ideas will be sellable and met their customers' ever-changing needs. As the trends changes, they looks for best ways to service their customers. For instance, as entrepreneurs, khal's team under @leogrowth attracts many users on #leofinance by being creative with many leoverses like Project blank aka leothreads which have become a household name on Hive. Many communities on Hive are busy on Threads this day and keep bustling here due to the great innovative work of @leofinance team.
Also, to make Threads popular, several campaigns are innovative ways to drive many users and keep them active with several quests with wonderful prizes.
Conclusion
Entrepreneurs are goal-getter and constantly enriching themselves with profits over the return investments and allocation. They have clear vision and be bold enough to take risks for their business growth.
They are creative and innovative in their strategies so as to meet their customer's needs which is the hallmark of their services.
Posted Using LeoFinance Alpha