Entrepreneurship is for All Businesses
Entrepreneurship is for all businesses, small or large, new or established. The culture of entrepreneurship is one that is maintained by the owner in a very small business or the management team in a larger one.
Entrepreneurship crosses all functions within a business; management, marketing, employee relations, customer care, and relationships with your vendors and suppliers. In other words, it’s at the core of everything that happens in a business; it’s about being open to innovation in all aspects or business growth.
The “fiscal cliff”, although avoided for the time being, is still with us and the ”deficit” challenge will not go away soon! Those that commit to a spirit of entrepreneurship will continue to grow and prosper in almost any economic climate.
A good way to do a self-check on your business is to answer the following question:
- What are your strategic priorities for the next 12 months?
In a recent article, entrepreneurial firms selected these categories as their strategic priorities for the next 12 months:
- Introduce new products and services
- Expand into new markets
- Increase productivity
- Generate higher profit margins
- Raise prices
- Increase overall revenues
Make a list of your strategic priorities for the next 12 months. Remember, a list alone will not accomplish anything unless it is accompanied by a detailed action, an accountability factor and a constant monitoring process.
I mentioned the word innovation, the strategies you set forth for your business will require some “out of the box” planning which will allow you to seize opportunities whenever and where-ever they occur.
Work closely with your coach in the development and implementation of your strategies. What great opportunities you have to make 2020 the year your business reaches new heights.
American society is still not perfect, but it is still the best there is. Gerald Ford
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