Entrepreneur Creed : 10 Tested Ways To Be A Focused EntrepreneurOluwaseun Olayisade
Entrepreneur creed: The guiding principle on your journey to being a successful entrepreneur.
Entrepreneur Creed as written by Thomas Paine.
I do not wish to be a kept citizen.
Humbled and dulled by having the
State look after me.
I want to take the calculated risk
To dream and to build.
To fail and to succeed.
I refuse to barter incentive for a dole
I prefer the challenges of life
To the guaranteed existence
The thrill of fulfillment
To the stale calm of Utopia.
I will not trade freedom for beneficence
Nor my dignity for a handout.
I will never cower before any master
Nor bend to any threat.
It is my heritage to stand erect.
Proud and unafraid.
To think and act for myself
To enjoy the benefit of my creations
And to face the world boldly and say
This, with God’s help, I have done
All this is what it means
To be an Entrepreneur.”
Thomas Paine, 1776
You can’t talk about being an entrepreneur without referencing the “Father” of the entrepreneur creed; Thomas Paine.
A creed simply defined is a set of beliefs that guides the actions of a person or group.
Entrepreneur Creed is a bunch of ethics you live by as an entrepreneur.
I can’t promise you a safe sail on the waters of entrepreneurship but I can guarantee that following this entrepreneur creed to the letter will save you from going under.
Here are 10 important tenets to guide you on your entrepreneur journey.
1. Pick a business, stay focused and understand it. Know it in and out. Conquer it before branching out.
If you keep trying you will get the honey from the bee
2. Understand your clients. Know what they buy from you and why they prefer yours.
3. Hire professional managers. Ensure you have the right people on your bus. They get you to your destination faster. Hire people that are smarter than you.
4. Put in place strong financial and administration controls. Ensure you have an internal auditor.
5. Constantly research the market on pricing. You don’t want to charge way less and you shouldn’t be over board as well.
6. Don’t spend too much money on office space especially if you are just starting. Be street smart.
7. Have a strategic business plan and regularly review it. This is to keep your destination in mind even if you sometimes derail.
8. Keep proper record of every transaction. A dubious customer may act funny. Be prepared. Keep track of every activity.
9. Make sure there’s a job description for every position. Learn to delegate and automate where necessary. Pay parallel to the job description.
10. Set performance milestones for yourself and your team. This is how to measure progress efficiently and motivate. Award the best and keep promises made for outstanding performance.
I once had a boss that promised to pay commissions to Sales Reps. Performance decreased after they realized he made empty promises.
Entrepreneur ethics such as these will make your entrepreneurial journey remarkable.
As an entrepreneur what creed do you live by? Please do tell by joining the conversation.