10 Attributes Of Emerging Entrepreneural Venture

Adeniyi SalauSeptember 26, 2020

0 6 4 minutes read

10 Attributes Of Emerging Entrepreneurial Venture

What Is Covered

In my previous article, I have talked about all that you need to know about how you can become an entrepreneur and be your own boss. In this article, I want to look at some of the common attributes of emerging Entrepreneurial ventures. Follow me as we are going to look at that together in this article.

#1 Result oriented

A good entrepreneur will always focus on results. He will always highly his vision, focus on what customers want and plan on how he will be able to achieve those goals that he has set when he was starting out as an entrepreneur.

#2 Task culture with a flat structure

Another major fact about entrepreneurs I’d that they are always task-focused and has a flat structure. At times, when they are starting out, they are almost the ones doing everything. Their aim is to complete all the tasks that he has set for themselves.

#3 Development of new ideas

Also, Entrepreneurial ventures always encourage the development of new ideas.

As an entrepreneur that wants to succeed, he needs to bring diverse brains together in order to achieve corporate goals. He will always welcome different calibre of people that will be able to help him to succeed.

#4 Continuous innovation

Another thing that you can not take away from entrepreneurs is that they continue to evolve.

A good entrepreneur will always look for ways of doing things in a better way by creating what is not existing before or packaging it in a better way. They are always ready to explore new opportunities.

#5 High uncertainty

Another major issue with new Entrepreneurial ventures is that there is a high-level às far as the business venture is concerned.

The so-called new business owner is not even sure whether the business venture will succeed or not. It was even discovered according to research that most of the new business ventures failed in the first five years of establishment.

#6 Risk-taking

Another issue that you need to know about emerging Entrepreneurial ventures is that there is a high level of risk-taking.

There is always little tolerance for failure and persistent trial in the organisation. Sone of these new business owners always fails because they are always afraid of taking risks.

#7 Visionary and persistent leadership

Another fact that you need to know about entrepreneurs is that they are always visionary and they are very persistent in their vision.

They have goals that they have set to achieve and they always put together all the resources that they needed in order for them to succeed.

Whether they will succeed or not now has to do with their ability to use available resources to achieve their goals.

#8 Long time horizon for growth and expansion

You also need the knowledge that entrepreneurs always follow a long lope to success.

They need to understand that they have to pass through many upheavals on their way to success and they are ready to weather the storm in order for them to succeed. Amazingly, not all of them always get to the end of the rope.

#9 Organic organisation

You also need to know that entrepreneurs have an organic organisation that is wired up for change. Unlike big corporations where there are procedures for making changes.

It is always very easy for the owners to quickly adjust and change some practical steps in order to adapt to new situations. This allows the organisation to progress steadily towards attaining its goals.

#10 Reward

Good entrepreneurs need to also understand the concept of ” the higher the risk, the higher the reward”.

They need to know that the best time to take risk is the time that everyone is running away from risk.

Entrepreneurs have developed a system that is based on performance and results. If you failed to perform, then you have no reward.

Action Point
PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on an individual and corporate level, I will be very glad to do that I have trained several individuals and groups and they are doing well in their various fields of endeavour. Some of those that I have trained includes staffs of Dangote Refinery, FCMB, Zenith Bank, New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.

I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you can drop your comment. Thanks in anticipation.

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