From Managing Director Dave Stevens down, we believe that entrepreneurship – with its emphasis on creativity, innovation and growth – is the foundation of most great organisations.
Fostering entrepreneurship is about creating organisations that can identify and evaluate new opportunities, making sure that they don’t lose track of the values that created them in the first place.
Carried out successfully, an entrepreneurial approach allows your business to create new products and more efficient processes, delivering better services to your customers while growing with new markets.
Here are a few thoughts on ways to ensure that your business has an entrepreneurial spirit:
1. Enable your staff to think like entrepreneurs. This means making sure that everyone understands the business, its structures, its marketplace and how it makes money.
2. Make innovation a goal. Develop a ‘melting pot’ forum in which people are encouraged to thrash out new ideas.
3. Ensure that leadership can come even from the lowest levels. It’s often those on the front line who have the best insight into market needs. Make sure that the upper echelons of management encourage an ideas culture.
4. Create a reward structure in which staff benefit from company success. In addition to bonuses for outstanding performance, how about an employee share option program?
What’s your experience of entrepreneurship? Can entrepreneurialism in established businesses work? Are you a budding entrepreneur? Have you been inspired by an entrepreneur? Post your comments below.