HOW ENTREPRENEURS STOP OVER WITH ENTREPRENEURIAL EFFECTIVENESS.
The tendency to see things in the market that others don’t see and then to exploit them are fundamental aspects of Entrepreneurial Effectiveness.
An opportunity is centred on an idea that provides genuine value in the reckoning of others. Hence, an opportunity becomes valuable when it is customer driven, when it is rooted in meeting a real need or solving a real problem in the marketplace and when it stirs up demand in the mind of the customer. Thus, understanding the desires, concerns or problems of their customers and finding ways to address them in order to provide real benefits that satisfy their customers are drives that enliven Entrepreneurial Effectiveness.
Intangible qualities like quality, ease of use, reliability, productivity, convenience and other qualitative factors that add value to a product or service are often fostered by entrepreneurs to enhance Entrepreneurial Effectiveness and persuade customers to buy. Beti Ward saw an underserved niche market in perishable, unusual and oversized freight items, and then founded American International Cargo, an air and ground cargo transportation service.
To recognise the unique in the familiar, to come up with a different twist or new approach to providing goods and services, are the things that motivate entrepreneurs to start businesses in a field in which they have some experience and also prove Entrepreneurial Effectiveness. The child-care challenges that plagued Maguerite Sally‘s working life prompted her to create Corporate Family Solutions, an on-site child-care provider for employers that allows parents to check on their children during lunch and work breaks.
Entrepreneurial Effectiveness frequently resonates to the ability to relate two seemingly unrelated concepts, to take two widely different things and put them together in a new way. Michael Dell launched Dell Computers on the novelty of combining computers and mail order. Fred Smith relied on the combination of mail and overnight delivery to launch Federal Express. Jeff Bezos related a bookstore to the Worldwide Web to create Amazon.Com
Entrepreneurs act to change the situation rather than let the situation dictate their response. They base their behaviours on their decisions, rather than their conditions, to stop over with Entrepreneurial Effectiveness. To be reactive and to be driven by their circumstances, and to make excuses that prevent them from taking actions are things that do not stick with them. Citrix founded by Ed Iacobucci in 1989 to pioneer revolutionary “thin client” computing that allows PCs and devices to access software applications from a central server, over a wire or through the air, found itself in deep economic trouble when Microsoft decided to enter the thin frame software market. Rather than allowing the situation to determine how he would act, he chose to be proactive by acting to change the situation. He did that by negotiating with Microsoft and finally winning a five-year co-development agreement worth $75 million with possible software commissions of up to $100 million.