Saturday, December 31, 2011

Entrepreneurial Mindset

Today is the first day of the year, and my first blog post for 2012. Bear with me as I write something about entrepreneurship.

I had a very interesting discussion with one of friends regarding what it takes to be an entrepreneur. He asked me if I can define in one simple sentence how an entrepreneur thinks or acts or what essentially drives him. The reason he asked that question is because most companies, especially start-ups are now looking for someone with an entrepreneurial mindset to join their companies.

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It was a very good question and I almost got stumped. I had to look back and remember the interviews I did with entrepreneurs and business-owners. Then it dawned on me; 'entrepreneurs are people who add value.'

It really doesn't matter if you own your business or you are just an employee. An entrepreneur is essentially someone who adds value where there were little or no value at all. Entrepreneurs create opportunities that every problem presents. Entrepreneurs grab opportunities that every situation presents.

When someone adds value to a certain thing, that thing (whatever it is) becomes more precious. Let me illustrate; automobiles were existing decades before Henry Ford made the Model T. However, he had this vision. He wanted automobiles to be affordable enough so that every American will buy it.

Automobiles were hand-made. Each technician or worker spends several hours a day making one vehicle. This is why, vehicles were only for the rich and those who can afford it.

Henry Ford's vision drove him to make a system that will churn out his Model T's faster and more efficiently. He created the first assembly line. Not only it became more efficient, the assembly line also made the automobile very affordable!

I can tell you now that 99.9% of factories are using the assembly line that Henry Ford instituted.

Employees who add value to the company are highly-valued by their managers and other officers. These employees are the ones who get promoted easily and get regular pay raises. An employee with an entrepreneurial mindset is highly-priced.

I will be discussing the entrepreneurial mindset in detail in my following blogs. I will continue with my experiences first and the lessons I have learned. I hope that by doing this, I am adding value to you, my subscribers. I look forward to sharing my experiences again!

Happy New Year!