What is entrepreneurialism?
For me, entepreneurialism is simply about…
- using intelligence, cunning, and sociality
- to convert opportunity, agility and (limited) capital
- into action, profit, and (sustainable) growth.
i.e. using different kinds of knowledge…
‘Intelligence‘ = technical brains, forward reasoning, deductive logic
‘Cunning‘ = sales, reverse reasoning, inductive logic
‘Sociality‘ = social brains, PR, outreach, persuasion
…to make the most of internal and external resources…
‘Opportunity‘ = imbalances in external markets, systemic distortions, inconsistent behaviour, arbitrage
‘Agility‘ = moving fast, prototyping, iterating, listening to customers, rolling with the punches
‘Capital‘ = cash, resources, time, goodwill, support
…such that your enterprise finds a growing place for itself in the world through action…
‘Action‘ = actually doing something or building something, rather than just preparing endless slideshows
‘Profit‘ = selling products or services for more than their amortized cost (and the earlier the better)
‘Growth‘ = finding ways of competing and winning in more and more market segments
So… which bit of the above don’t you yet do?