If you Google the word Enterprise the first thing to come up is Star Trek. But to us, we’re small business owners not some kind of space cadets. We have started a business so what we are, is Entrepreneurs. Enterprising People.
The recovery of the Irish economy largely depends on you and me. And the key to that recovery is consumer confidence. For consumers & customers to be confident in our ability to deliver goods or service, they have to trust us. We have to deserve that trust. Trust & confidence means money gets spent. That creates economic activity and that’s what is beginning to turn this economy around. But does Government recognise this?
When you look Enterprise up in the dictionary it implies that enterprising people are Calculated RISK TAKERS.
Go a little further and it implies that we are Industrious, Hard working people and that an enterprise is a systematic activity directed toward profit.
This is not a bad definition against which to measure the behaviour of Irish business people
Every business decision is a calculated risk – or is it? Sometimes we take a punt, go on instinct, and since instinct is often good among entrepreneurs at least half the time we get it right. Ask yourself: If I took time to ‘calculate the risk,’ to look at the situation or opportunity and work out the detail, would I behave differently? In order to make the most of the opportunity that now presents itself you need to look honestly at your attitude to risk. Are you eager for, indifferent to or averse to risk? Are you a hare or a tortoise; quick or slow approach? Once you decide that you know the right type of business for you to be involved in.
Industrious, Hard Workers
It is harder than it used to be to get work. It’s not impossible. Working harder won’t necessarily get you the result you want but listening to what customers want and meeting that need will, and that’s working smart. There is an old saying the harder I work the luckier I get. Hard work and a willingness to do it will always give a positive result and smart work seeks opportunity, goes out and gets it, while others sit and complain about there being no work. Both together, in the right proportions get great results.
A Systematic Activity Directed Toward Profit
To develop a systematic approach we have again to look at what we do under a few headings and then ask ourselves some questions about what we are doing. In this we must always remember if it is not broken don’t fix it, Just repeat it. Often.
- What do we do really well?
- Who buys it?
- Why do they choose us?
- How can I add value to those customers?
- What else do they buy?
- Can I provide that at a profit?
- AND what else do they NEED?
- What business just comes in every week or month?
The answers to these questions lead you to knowing your unique selling proposition. When you know that you can offer it to others as well as your current clients and so grow your business. Now you have a TARGET and a METHOD of reaching that target. All that is left is the Action to go and empower your own success.
The Bottom Line
After years of defensive business it’s time to remember our continuing mission; to seek out new products, new customers and go boldly after business where we haven’t gone before.