Getting to the Heart of the Matter

Since the beginning of this blog post over 10 weeks ago many discussion have been about the core of entrepreneurship.  Getting to the heart of the matter.  May I remind you as often I have that this journey started with a dream, your dream to create something that you believed in your youth would come true.  Remember those wishes and child like aspirations. It sounded something like this ...  "When I grow up, I am going to be be a Fire fighter, the President, be a toy maker, invent something cool."

This weeks insightful blog will explore the dynamics an entrepreneur vs the intrinsic automated bureaucratic tendencies of corporations.  How do these differ?  Based on research it is in the line of thinking.  An entrepreneur when faced with a challenge will immediately think,

• Where is the opportunity?
• How do I capitalize on it? 
• What resources do I need?
• How do I gain control over them?
• What structure is best?

Inherently the business administrator of a corporation will decipher the situation in the following way:

• What resources do I control?
• What structure determines our organization’s relationship to its market?
• How can I minimize the impact of others on my ability to perform?
• What opportunity is appropriate

Already we can see how these two ideologies differ in approach and effectiveness in achieve goals.

How can we equate these in real world terms.  It is simple.  As entrepreneurs we are always looking for the next door opening and as a good friend said to me this week, if the door doesn't open then create one yourself.

To open a door or create a new one does not mean reinventing the wheel, it may mean finding innovative ways to meet the needs of consumers, which improve services or is a different combination of already existing services that are more value adding to the consumer.  Entrepreneurs are not levied like industry by external influences that prompt opportunities for change into problems.  An entrepreneur will "Carpi Diem - seize the moment unabashed with most haste.

Now that we have moved hastily into the mosh pit of an opportunity with thunderclouds overhead it is not enough for the entrepreneur to move quickly unscathed but also to have a confident and solid knowledge of the territory, products, situation and those involved within the opportunity to pounce like a leopard.

What resources do I need?  For some projects it may be as simple as just getting additional funding, while other follow the full gamete of staffing, real-estate, re-positioning product, re-branding and plant usage.  Comparatively, the corporation will not spare the use of resources at their disposal at a first class level.  Learned entrepreneurs will utilize the resources available with sparing and wisdom, understanding the necessity that consolidating gains for future venture will put them in a great position. Doing more with less which may mean finding people with the skill set who can achieve the work needed.

Once acquiring the needed resources or utilizing what is available the next step is control those resources.   Knowing how to use other people's resources withe the mind set that at some point, the Entrepreneur will find a way to build the resources in house at a later date.  For example an entrepreneur may use outside vendors to facilitate services for their clients such as patient occupational health exams while building their own resources and clinics to service the needs at a later date.

To recap, an opportunity has become available - for example introducing the best ice creams in the world to the number one ice cream consumer in the United States.  Following these questions Where is the opportunity?, How do I capitalize on it?, What resources do I need?, How do I gain control over them?, What structure is best?; in a methodical and orderly fashion will enable progress and success in the market you enter.

Being an Entrepreneur is about innovative,flexible, dynamic, risk taking, creative, and growth oriented.  Similarly we can incorporate this thinking in our relationships of life.  We can ask these questions to resolve challenges or find opportunities to grow the home market, improve relationships. Where is the opportunity to show tolerance, love and compassion.  How do I  capitalize or facilitate increased effectual relations within my family?  What resources do I need to express my feelings or stop to help another?  How do I gain control over them - simple follow the previous steps with an abundance of love. What is the best structure? Treat others how you want to be treated, with respect care and love.

Don't forget your dreams and passion on your journey. Remember what you wanted to become when you grew up and carry that with you wherever you go.