Who Is an Entrepreneur?
An entrepreneur is an individual in business who sees a chance that other business persons have not fully identified, in order to meet up an unsatisfied requirement or to thoroughly improve the presentation of an already existing industry. According to Stanworth, Stanworth, Granger, and Blyth, (2012) entrepreneurs have unquenchable confidence that the opportunity that has presented itself can be turned into a reality through working hard, dedication, and the compliance of a business person to learn lessons of the market through the way of the implementation of the available opportunity (Blanchflower, and Oswald, 2015). Entrepreneurs are always not diverted or demoralized by uncertainty from experts within the relevant business where opportunity has been realized or from the people from whom the entrepreneur seeks back up and help, but they are always willing to consider all the available pieces of advice and choose that which would be helpful. The entrepreneurs are ready not only to seriously work hard but also to back up their judgment and personal investments at a level that will lead to problems should they be wrong considering the opportunity. Even these characteristics of an entrepreneur can be not enough.
The entrepreneur understands that accomplishments are the outcomes of teamwork of the entire business staff and they know how to select the useful blend of the available skills and motivate the business staff with their dreams. Generally, an entrepreneur makes decisive choices within the business considering the available opportunities within the market (Blanchflower, and Oswald, 2015). He takes all the risks by himself considering the business yet the result of the decision made by the entrepreneur is regarded as a general business decision that has been contributed to by all the persons involved in the business. Stanworth, Stanworth, Granger, and Blyth, (2012) argue that an entrepreneur is, therefore, a risk-taker within a business organization.
Skills of a Successful Entrepreneur
The following are some of the qualities an entrepreneur needs for a business, he needs to have a vision. He should be able to think things over and identify where he wants to move and how he wants to achieve that. He should also be able to work alongside others in order to ensure that the vision is abided by throughout the process. Furthermore, he should direct the operations and income towards making the vision a reality (Ray, 2013). A successful entrepreneur should also be able to communicate properly. Articulate a dream plainly to others. Energize two-route correspondence in the middle of directors and non-administrators and dependably be accessible to others. Endeavor to be brief and particular about bearings and guidelines. Most importantly, a great pioneer maintains a strategic distance from speculations and ambiguities that can prompt misconception, strife, and poor execution.
Entrepreneur Engagement With Employees
He should support and control employees. Begin by identifying so as to help other people elucidate and accomplish objectives and uproot any hindrances. Give the assets expected to finish the undertaking. Try not to criticize other people who commit errors when going out on a limb. Rather, investigate and examine what turned out badly and what went right. Remember, employees make mistakes when stressed entrepreneurs put aggressive pressure on them.
Next, work with the worker to redress the blunder. Choose whether another endeavor at a past objective is fundamental, and offer consolation on the off chance that it is. Amid the whole process, give proper input to guarantee inspirational dispositions and activities. Serve as a model of a good state of mind and utilize approaches that others can imitate (Ray, 2013). He also believes in himself or herself. A decent pioneer has a solid feeling of certainty, heaps of learning, testing, and now and again fizzling yet continually developing.
He should know about individual qualities and restrictions, and show those abilities and gifts without bragging. Expect obligation regarding issues and individual blunders without concealing them or accusing others, and realize that if an error happens, it doesn't compare to insufficiency. An effective pioneer trusts that he or she can pivot a negative circumstance by rethinking the variables and different circumstances with information from others, when fundamental. He should create an atmosphere that allows others to develop and thrive. Realize that nobody individual has the majority of the answers Baron, and Markman, (2010). By welcoming the part that motivational strategies can play in enhancing representative execution, you can work with others to increment hierarchical efficiency and enhance singular occupation fulfillment. Here are a few tips on the best way to make a motivational environment: Ask individuals their supposition as opposed to letting them know yours. Above all, entrepreneurs hire employees who share similar visions beliefs, so they are obviously on your side, not the opposite.
When individuals approach you for arrangements, have them think of answers or choices as opposed to letting them know the most ideal approach to determine a circumstance. Talk about the benefits of their perspectives and how to make them effective. Provide positive criticism when representatives voice their sentiments (Hisrich, 2014). Offer proposals or attempt to determine challenges. Strengthening conduct on your part will support more suddenness, deduction, and advancement on your part. Ask questions, notwithstanding when you don't have the foggiest idea about the answer. Ask representatives testing addresses that urge them to think, arrange and respond. Most importantly, urge representatives to test themselves. Encourage workers to go out on a limb. Bolster them when they do furthermore when the result of danger taking isn't certain. In those cases, assess what turned out badly and energize other, more suitable dangers. He should manage by walking around the business environment.
By escaping the workplace and strolling around the office, plant, or working to connect with different representatives, you get a chance to see individuals at stake doing day-by-day assignments (Baron, and Markman, (2010). Make a chance to casually visit with representatives and learn something more about their work difficulties and lives. He should react and act in an honest way. Creators and makers of The Leadership Challenge program Timmons, 2011 report that trustworthiness is the No. 1 normal for predominant pioneers. Fair pioneers effortlessly fabricate trust and certainty. Their representatives are more able to work harder, make inquiries, and admire pioneers who appear to be straightforward. Workers will likewise acknowledge scrutinizes, whether positive or negative, from pioneers they trust and accept.
Why Should an Entrepreneur Share Ideas?
A successful entrepreneur develops and fosters a learning environment that is conducive. Perceive that expanded information, more occupation experience, and testing distinctive personality sets builds specialist fulfillment, inspiration, and efficiency. Hisrich, (2014) states that an entrepreneur should habitually urge others to consider unheard-of options and see issues from substitute viewpoints. He should be able to persevere. Try not to avoid accomplishing objectives just on the grounds that snags exist or no answer is promptly accessible (Timmons, 2011). Proceed in your quest for brilliance in spite of obstructions and feedback, and empower the same disposition in others. He should share his entrepreneur failure to success story with others. Realize that constructive results are once in a while the aftereffect of one and only individual's endeavors or info. A fearless business person imparts the spotlight and awards to other people who added to the last item or administration.
The Trinidad and Tobago Case
Tertiary-level entrepreneurship education is offered to various entrepreneurial students across the world. Education varies from countries as it differs from developed countries and developing countries. Therefore, I would benchmark the education from Trinidad and Tobago to that in the developed countries of the world such as the United States. Most of the students of entrepreneurship in Trinidad and Tobago felt the curriculum for entrepreneurs was equivalent except that the universities in the developed countries such as the United States and others focused much of their entrepreneurial education on the creation of an entrepreneur that has practical skills whereas the Trinidad and Tobago universities were only focused more on the theoretical aspects of entrepreneurship. Most participants of the education were unable to state the reasons as to why they felt that the education provided concerning entrepreneurship was insufficient.
However, one of the participants in the education showed that the top universities within the developed nations focused on the growth of the entire individual without considering the careers they chose to take. But when the syllabus is similar, every person had his or her own feeling about the education provided compared to that of the developed countries. Entrepreneurship has proved to be very fundamental in the business sector and should therefore be taken seriously for the sake of the business future. The skills of a successful entrepreneur should be imitated by all entrepreneurs to ensure that they are as well successful within their businesses. It would, therefore, be advised that an entrepreneur should not be afraid to take risks and should instead learn to be comfortable in uncomfortable situations.
Baron, R.A. and Markman, G.D., 2010. Beyond social capital: How social skills can enhance entrepreneurs' success. The Academy of Management Executive, 14(1), pp.106-116.
Blanchflower, D.G. and Oswald, A.J., 2015. What makes an entrepreneur?. Journal of Labor Economics, 16(1), pp.26-60.
Hisrich, R.D., 2014. The woman entrepreneur: Characteristics, skills, problems, and prescriptions for success. The art and science of entrepreneurship, pp.61-81.
Ray, D.M., 2013. Understanding the entrepreneur: entrepreneurial attributes, experience, and skills. Entrepreneurship & Regional Development, 5(4), pp.345-358.
Stanworth, J., Stanworth, C., Granger, B. and Blyth, S., 2012. Who becomes an entrepreneur?. International Small Business Journal, 8(1), pp.11-22.
Timmons, J.A., 2011. The Entrepreneurial Mind. Brick House Publishing Co., 3 Main St., PO Box 512, Andover, MA
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