The ultimate aspiration of every entrepreneur is to be successful – without which entrepreneurship would have been useless and unneeded. But every entrepreneur needs adequate enterprise to be successful, and this is essentially the mental and physical resourcefulness to set and achieve plans in the face of all evolving challenges.
So an entrepreneur requires an enterprise solution to succeed. This is the phenomenon of creating a business idea, sustaining its development and growth, raising human and economic help where needed, managing and regulating associated events to help achieve objectives, and ultimately realizing both short- and long-term objectives provided by the economic activity.
In a narrow sense, an enterprise refers to a business venture or economic undertaking; and in a broader sense it refers to the whole gamut of activities between business ideation to executed objectives that yield expected results. This means to an entrepreneur, a business enterprise contains five basic concepts that must be achieved – identifying an economic problem, creating a solution, planning and implementing resources, achieving stated goals and objectives, earning an expected and targeted reward for labour given.
An enterprising individual is always systematic in his approach to personal and business issues, and they develop a potential that enables them to deal with problems and achieve solutions. They have natural attitudes and approaches to issues that others around them don’t have, and they draw upon an inner strength that gives them the leverage to address given problems and evolving challenges.
An enterprising individual is resourceful and earns various rewards for his natural and uncommon abilities. He is respected as a solution-giver within his family and community, and earns the respect of co-workers and associates at all times and in all places. He is adaptable and knows how to translate challenges to opportunities, and his personal attitude and systematic approach to issues earns him a place among the great and mighty.
The word ENTERPRISE can be broken down to help you plan and achieve your goals as an entrepreneur. That is clear enough, right? Well, maybe not. Properly broken down, an entrepreneur must possess the following enterprise attributes –
- E – Energy: He must possess the mental energy and physical strength to identify a problem and create solutions that must be achieved in the face of all odds.
- N – Need to achieve: He must identify a “need” and understand the “need to achieve” solutions that he only can executive with his resourcefulness.
- T – Task-oriented: He must know how to create tasks to be achieved and break these down into achievement activities. He must also know how to assign tasks and monitor their completion.
- E – Empathy: He must have a feeling of what his target audience are experience and be able to create a solution that will add value. He must also be able to empathize with staff to help them achieve given tasks.
- R – Resourceful: He must be ingenious, imaginative, inventive, practical, quick-witted, capable, and creative to be able to implement plans and see them through to completion.
- P – Planning: What is a leader without the natural ability to plan out things? He must be a great planner and a wonderful executer.
- R – Risk-taker: He must be able to shoulder risks and overcome them – but not any risks, only calculated risks that are central to the success of the undertaking at hand.
- I – Innovative: He must be able to develop new ideas and think up solutions that others would not see in a long time. He must be able to think ahead of others and have an hindsight as to the consequences of decisions.
- S – Skillful: He must be skillful via education, training, and experience. He must be able to manage people and scarce resources to the point of achieving hard objectives.
- E – Endurance: He mustn’t be a quitter but capable of great strength and patience, fortitude and stamina in the face of all odds, and be capable of celebrating successes with modesty.