Business Entrepreneurship

Wikipedia defines the entrepreneur as “a business leader and innovator of new ideas and business processes”. Management skills and strong team building abilities are often perceived as essential leadership attributes for a successful entrepreneur. Professor Howard Stevenson, the godfather of entrepreneurship studies at Harvard Business School says, “Entrepreneurship is the pursuit of opportunity beyond resources controlled”.

It has been our experience that every effective and successful business has someone who is the “entrepreneur”. The entrepreneur might be an owner, partner, or employee. For your business to be a leader in your field, you must have the following entrepreneur proficiency:

  1. All entrepreneurs have a strong sense of necessity or pursuit. This involves a single never ending focus on any and all opportunities.

  2. The act of producing a product and service that distinguishes itself from competitors in a marketplace where differences are often hard to come by, demands a high degree of innovation. Having the ability to look forward to identify needs and solutions that may not be noticed gives the entrepreneur the advantage.

  3. Entrepreneurs see opportunity and develop actions to grow and expand business. This might include:

  4. Developing a new product or service

  5. Building a new delivery model

  6. Targeting other industries that might use their product or service

  7. Have the ability to tell a story. Entrepreneurs have a unique talent to tell their story in a way that creates excitement and a more important commitment to those who will listen. This is very important–especially for startups.

  8. Every entrepreneur has passion for their company, service or program. Walt Disney started drawing at the age of seven and never stopped.

If you possess these characteristics, then you could be a very successful entrepreneur. Instead of wasting these gifts, make sure that you put them to use when and where you can.

Bob Lilly


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