The Entrepreneur's Thought Process

by | March 31, 2009

Entrepreneurial thinking is about recognizing opportunity and understanding how to capitalize on it. Entrepreneurs learn to see opportunity while others stick with what's out there. Learning how to think in an entrepreneurial way allows you to stay one step ahead of your competition, whether it be with your own business or with other aspects of your life. Everyone has a different perspective on what he or she would find useful. Learning to think like an entrepreneur means learning to use that unique perspective to improve or create products and services for others.

For example, you should remember those times when you find yourself wanting a product or service, only to find that it is not available to you. Or make a note if you think of a way to do something more efficiently. Look around and notice what people desire, or what you think they will want in the future. Remember that it can be just as profitable to improve upon an existing product or service as it can be to create an entirely new one.

The sheer number and diversity of people in this country and worldwide mean that there are multitudes of untapped markets. It just takes a little bit of creativity to reach them. Don't be afraid of ideas that seem odd or impractical - cars, computers and microwaves were all questioned or shunned at some point.

Things to think about

  • What opportunities have you noticed that are not currently being exploited in the marketplace?
  • What kinds of products or services have you always wished existed, but do not?
  • What talents and knowledge do you have that will allow you to recognize opportunities in the marketplace?

    Let your idea grow

    If you feel that your idea has value and would make a positive impact in the marketplace, then create an environment in which it can flourish and grow; don't let the entrepreneurial thinking stop with you. Hire creative, open-minded people and make sure they feel free to share their ideas. Look for people with the confidence to offer suggestions on ways to improve your business. Although entrepreneurs start with an idea or product, human capital is always their greatest asset.

    Creative thinking has the power to take your business to new levels. Look at every aspect of your new business and assess what you could be doing in a more efficient way. Encourage creativity in your employees and give them voice to express their suggestions and ideas.

    Things to think about

    • How will your new business differentiate itself from its competitors?
    • What are ways that your new business can use creative thinking to exploit available resources?
    • How can creative thinking benefit your new business?
    • How do you plan on looking for creative thinking in prospective employees?
    • How will your business take advantage of the new ideas that your creative ideas produce?
  • Filed Under: Job Search


    The Business Idea The Retainer Agreement

    Vault welcomes your views. Please stay on topic and be respectful of other readers. Review our User Guidelines.

    blog comments powered by Disqus

    Career Update Newsletter

    Tips and tools to help you manage your ideal career.