Most entrepreneurs who encounter major problems tend to blame the surprises and setbacks on external factors such as increasing competition, government regulations, tight capital markets, unmotivated workers, and a litany of other factors. The bottom line is that the entrepreneur is the most important factor in determining an emerging venture’s success.So much for the sermon. What can be done to increase the probability entrepreneurs lead their ventures rather than contribute to their downfall? The first thing to recognize is that as the venture’s CEO your job is to prepare your firm for the future. Entrepreneurs must be able to differentiate the issues that must be addressed right now for the firm to succeed in the next three to five years. Entrepreneurs also need to focus on the things that may not be pressing, but will also have a dramatic impact on the firm’s future. Too many entrepreneurs fall prey to the “tyranny of the urgent.â€? They spend so much time putting out fires that could have been prevented with more foresight and discipline that they never have the time to prepare the firm for a very different tomorrow. Instead of sensing and seizing opportunities, they spend their time just trying to get through the day.
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