The spirit of entrepreneurship is something typically associated with people who have innovative ideas and are looking to start or grow their business. But that this kind of spirit and drive should be incorporated into the business model of every company.
By nature, entrepreneurs are innovative problem solvers who work hard on the success of their ideas. They also never give up, take pride in their work and constantly look for ways to improve systems. Many of the world's most successful entrepreneurs have won and lost their fortunes or had ideas that flopped. Those that made it,stuck with it and never gave up.
Incorporating this ethos into your business is not only a way to encourage growth and development of human resources, it's a way to ensure that everyone is a winner. This will keep them engaged and show them that they are the masters of the success of their team and the company. Since your staff are at the cliff face on a daily basis, their knowledge, experience and actions are one of the greatest precipitators for growth and expansion. A team that feels inspired and in control of their own success is one that excels.
Here are some tips to help you drive entrepreneurship within your business to keep your team and your company ahead of the game:
- Keep the entrepreneurial spirit alive
Encourage independent thinking when it comes to finding solutions and constantly looking for ways to do things better. Improved productivity and the sense of being in charge of one's own success are very liberating and will keep them coming back for more.
- Surround yourself with smart people
Just like they say that it takes a village to raise a child, it takes a dynamic team with a variety of skills to really make waves. By implementing a clear employee profile during recruitment you will ensure that you recruit the type of people who will embrace the entrepreneurial spirit and flourish in this type of work environment.
- Make everyone’s opinion count
You will begin to see that your employees thrive on the entrepreneurial spirit around them, and as you add new employees the levels of innovation and growth will soar. By listening to your teams’ opinions, it will ensure that they feel valued and a key member of the organisation.
- Reward your team
As teams put their heads together and feel safe sharing new ideas, you will begin to see that they excel. Make sure that you give credit where credit is due and reward those who go above and beyond.
- Keep tabs on the competition
Knowing what you competitors are doing and finding ways to get ahead of them is paramount to gaining competitive edge. This will also help maximise the entrepreneurial spirit that you are building within the business.
- Driving decision making
Involve each and every employee in decision making. Even if it's just in a small way. You will be amazed at how this will encourage them and further enhance their sense of entrepreneurship. It also makes them feel more accountable for the successes and failures. And ready to do things over if they don't work out.
- Never stop learning
Encourage everyone to keep building on their skills and experience. Give them opportunities to try new things and get out of their comfort zone.
Starting a new business begins with an idea that you hope will change the world. This spirit of innovation is where it all began and will carry your business forward. Don't let the flame go out. Instead, build on it and watch your business and its people grow.
About Zubair TimolZubair Timol is the Partner and Area Director of India, Middle East & Africa at Meltwater. He joined the company during its startup phase, being trained in Oslo, Norway, under the tutelage of the CEO.