4 Characteristics of an Entrepreneur
One of the benefits of being in the TCRN group is that I get to meet some outstanding entrepreneurs! These men and women think and operate like strategic business owners. Truthfully, not every business owner operates like an entrepreneur! Michael Gerber, the popular author of The E-Myth Revisited, has argued for years that most small business owners are not really entrepreneurs.
To help us understand this better, let me share with you 4 characteristics of an entrepreneur.
- Entrepreneurs Focus on Satisfying Their Customers.
This may seem elementary but it’s not! Many business owners focus more on their products and services, or they focus on acquiring new customers at the expense of taking care of the customers they have. The best entrepreneurs care deeply about their customers. They are always looking for more wants and needs that they can serve. They know that their first marketing priority is to the customers they currently have. They know that their success is tied directly to the future, predictable cash flow that comes with long-term, loyal customers. The best business owners are obsessed with customer service. As a result they listen to their customers and they spend time building relationships with them.
- Entrepreneurs Focus on Getting Results.
It’s easy to confuse busyness with performance. However, the best entrepreneurs do not confuse activity with accomplishment. They work to be efficient, but more important, they strive to be effective! One of the characteristics of an entrepreneur is that they constantly drive to achieve the results they want! No excuses, no blaming. Results are expected.
- Entrepreneurs Focus on Continuous Improvement.
These business owners know that they can always get better and they work hard to continuously improve! They know that if they are not improving, their competitors are. They see failure as feedback which is essential for progress and improvement. They experiment, optimize, and create! They never stop learning, growing, and improving!
- Entrepreneurs Focus on the Long-Term.
Reputation matters! The best entrepreneurs aggressively guard and work to build their reputation! They don’t take short cuts. They build a reputable brand not so much through advertising but through their reputation for customer service. They know that this is the foundation for long-term success.
As TCRN members these are the qualities we strive for. It is an honor and a privilege to be a part of a network of businesses that are committed to our customers and our community. As a business coach this is what I help my clients achieve.
By Glenn Smith, CEO of Growth Coach of Houston