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Entrepreneurship

 

Social entrepreneurs need mentors to guide them through the tough times and counsel them of effective ways. It helps them avoid the usual pitfalls. Mentors have gone through such initiatives of several other people in the past, and so are aware about the hurdles these social entrepreneurs are likely to face at each stage. These mentors provide the entrepreneurs with the right doze of management training. Mentors are also usually very well connected and can help the subject get in touch with several key stakeholders. This could be useful for securing donors, marketing, strategic partnerships or sourcing final customers even. Mentors will also weed out common execution gaps so the social entrepreneur will be effective in leading people, developing programmes and earning business projects.

Source:http://www.forbes.com/sites/toriutley/2017/01/25/3-reasons-why-social-entrepreneurs-need-a-mentor/#192ca8fd7525

More than the career line chosen, it is important to do well up to one’s abilities in that field. There are some questions that really matter to individuals. It includes the all important question of what makes one happy. Also important are identifying the people whose success can be felt as their own, what are their motivations or what is the impact attempted. Soulful connection and belief in the ultimate goal are also points to ponder aloud. In order to develop an entrepreneurial spirit, six Ps have been identified. It starts with Passion regarding the field. Then there is the Path towards the final goal. A Positive mindset is extremely important. The People in life whose happiness matters most must be set aside. Then there is the Perseverance required to achieve the targets. And finally it is the Productive level that’s most important in order to execute the corporate strategy. It is the relatively mundane stage of using one’s time.

Source:http://knowledge.wharton.upenn.edu/article/cultivating-entrepreneurial-spirit/

 

Google founder Larry Page has shared some of his views on what entrepreneurs must do in order to succeed. They must start off with the best possible talent recruitment and nullify all bureaucracy in the organization. Their actions must be quick to take off and easy to implement. Crazy ideas postulated by the founder must be paid heed to so that the best of these can actually be practically worked on. Learning is constant, so minor tweaks to improve must keep on continuing. While technology will increasingly become important, it must never trump corporate strategy but instead be an aid to achieve the latter. Incremental innovations will have minor business potential. The aim must be to develop substantial innovations. As Page himself was persistent about the Google Maps idea, similarly he falls entrepreneurs must not give up easily until their plans fructify.

Source:http://knowstartup.com/2016/11/success-lessons-from-larry-page-for-entrepreneurs/

 

Some methods have been identified which if followed to the hilt, should lead to the development of a passionate company. The management of such places needs to allow the employees to show their true emotions and even on occasion vent out their frustrations or disappointments. The talent recruitment wing must prioritize the selection and retention of people who show genuine passion themselves. The best performers in the organization need a certain level of freedom in order to grow. Inhibiting this will lead to a failure to lure business innovation. Employees must not be kept in the dark but rather the context of their work needs to be shared with. This will lead to a more holistic appreciation of the situation leading to enhanced productivity. Crucially, team success must be identified and then celebrated with all. This will give many with the encouragement needed to continue with the good work.

Source: https://hbr.org/2016/02/how-to-build-a-passionate-company

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