How Entrepreneurial Thinking Helps Companies Innovate
Entrepreneurial thinking powers industries, transforming companies from within. Creating extraordinary value for employees and customers. Promoting an entrepreneurial mindset company-wide can help you gain a competitive edge and create opportunities for growth.
It can be a means to improve products, processes and services; to acquire and retain new clients; and to attract and retain quality people in the business. This can be done by helping your team members find their inner purpose and the meaning in what they do, regardless of their title or seniority within the organisation.
Organisations that obsess over customers are acutely tuned in to their wants and needs. A client-centric approach is about delivering high-quality products or services while creating real relationships to drive repeat business, loyalty and profits. When employees act like entrepreneurs, the center of focus shifts to the clients.
Encourage your people to ask open-ended questions that lead to quality conversations:
- What does the customer want, need, desire?
- What are the customer’s pain points and frustrations?
- How can each team member improve interactions with clients to serve them better, faster or with less drama?
Using mistakes as an opportunity for everyone to learn.
Promoting entrepreneurial thinking means supporting people to leave their ego to the side. Challenge them to think of themselves as CEOs of their world, instilling a culture of responsibility, ownership and accountability for their results.
Instil an attitude of mentoring
Communicate that you are here to help people unlock their potential, facilitate coaching moments and close the gap to achieve the results they want. Lead people and coach in real time. You’ll inspire your workforce to be part of the collective success.
Cultivate a culture of intimacy.
Entrepreneurial organizations deliberately maintain a strong sense of connection with both their people and their customers. Entrepreneurs hunger for personal development – theirs and others’. This togetherness is an investment in providing all employees with opportunities for real business involvement, including decision-making and innovations. Such companies capitalise on individual strengths and connect individuals inside and outside the organisation to work on projects.
Become a perpetual learner.
Most of us have forgotten how to tap into our natural, entrepreneurial spirit. Enroling in a course is one way to reignite our curiosity. Many universities dedicate centers to teaching entrepreneurial skills.
Developing an entrepreneurial mindset doesn’t require an MBA or millions of rands. It does, however, demand that you’re willing to imagine new ways to solve problems, embrace failure and create extraordinary value.