Characteristics of Entrepreneur and Words Related To Entrepreneurship From A-Z by Dr. Neil Planagan and Professor Peter Baskerville

CHARACTERISTICS OF
ENTREPRENEUR AND WORDS

RELATED TO ENTREPRENEURSHIP
FROM A-Z
BY DR. NEIL PLANAGAN AND

PROFESSOR PETER BASKERVILLE
Ambiguity- refers to as situation in which something can be
understood in more than one way and it is not clear which meaning is
intended. While change is quite stressful for vast majority of people,
entrepreneurs become quite invigorated by ambiguity and see it as an
opportunity.
Beachhead Strategies- are strategies that an entrepreneur uses to gain
market penetration and customer acceptance for their products. Sam
Walton (Wall Mart) used beachhead strategy of opening in small towns
that were not served by formidable rivals like the retails giants. 1.)
Build momentum, not profit; 2.) Be the topic of conversation 3.) Work
with your champions; 4.) Create memorable experience
Commitment- founding drive of an entrepreneur to see it through with everything
on the line. It is the commitment to the long-term, the commitment to getting up
and starting all over again. If fate to decrees.
Destiny- driven to take control of the future, craft their destiny and if need be,
make sacrifices in the short term for a greater long term.
Effectual reasoning- starts with clearly defined goals that translate into specifically
defined objectives that inform strategies and then determine tactics.
Focus- These successful entrepreneurs are single-minded with an eye constantly
on the prize. They are not easily distracted, they rarely quit and stay focused on
the task at hand until it is done.
Global- No longer happy to be tagged SME these start-ups are better tagged
Global Opportunity Start-up.
Health- Good health is a remarkable aspect of entrepreneurial life.
Entrepreneurs can’t afford to be sick.
Innovator- An entrepreneur’s core competency is to find new ways to solve
problems and do come up with clever, workable solutions.
Just- Do It- They immediately look for an alternative even if it means
putting 100% of their own resources behind the project to make it happen.
“Making it happen “ is what an entrepreneur does.
Keep-it Real- Entrepreneurs are honest and straight forward in their
dealings and expect others to do likewise.
Leadership- Leadership for the entrepreneur is not about status but
function.
Meaning- Entrepreneurs can create the meaning, which will become the
motivation behind their ventures.
Never give-up- Entrepreneurs never quit striving for success.
Opportunity seeker- Entrepreneurs keep their eyes open for significant changes
that may trigger a promotion from option to opportunity.
People- the most valuable resources in every business venture.
Quirky- it is a unique behavior and a unique ingredient that can only be
produced by a person with self-esteem and confident in their offer.
Risk taker- Deliberately calculates the risks and evaluates alternatives.
Entrepreneurs are fearful of a so-called “risk-free” life that ends in anguished
regret of what might have been, of what could have been, of what should have
been.
Subjective advantages- are the advantages the entrepreneurs achieve because
they know how to perfectly position their offer to fulfill a customer’s emotional
needs.
Timing- Entrepreneurs know when to launch the business or product in the right
place at the right time.
Under the radar- Entrepreneurs know to secure their entry into markets with
minimal notice or perceived threats, ensuring the least negative reaction from
competitors, suppliers, partners or customers.
Value-added- Entrepreneurs makes money by taking a slice of the added value
that they create for their customers via their innovative products and services.
Work and Play- “to do what you love and to love what you do”.
X-Factor- special something that entrepreneurs have which others don’t.
You- Entrepreneurs are people so totally engaged with the outside that they tend
to pay little attention to their one greatest asset- themselves.
Zest- it is known as the passion or life-blood of the entrepreneur.

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CHARACTERISTICS OF

ENTREPRENEUR AND WORDS

BY DR. NEIL PLANAGAN AND

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