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Entrepreneurship is the process of designing, launching and running a new business which isoften initially a small business and the people who create these businesses arecalled entrepreneurs.Entrepreneurs act as managers and oversee the launch and growth of an enterprise.Entrepreneurship is the process by which either an individual or a team identifies a businessopportunity and acquires and deploys the necessary resources required for its exploitation. Theexploitation of entrepreneurial opportunities may include? Developing a business plan? Hiring the human resources? Acquiring financial and material resources? Providing leadership? Being responsible for both the venture's success or failure? Risk aversionHere are a few of the qualities of a new age entrepreneurs:1) First Off, You Need All The Help You Can GetWhen I first started my business, I was the accountant, the marketing manager, the salesman, the”idea generator” as well as the CEO. I mean it was a small gig, but still looking back, I verymuch doubt that that strategy will fly today.Every business starts with a business idea and then we begin looking for good investors if wecannot come up with the basic capital. This is where the need for professional business planscome in. Then we need to start strategic advertising and marketing strategies. The need forprofessional help has never been more obvious as it is today.Alex Silensky, the CEO at Ogscapital, a company that produces top business plans in the US,UK and Canada noted of this need in an article:”The fact the business plan looks ahead at goals, strategies, and finances for 5-to- 10 yearsmakes it a strategic document and one that ever entrepreneurs should get help developing.Consultants who know through experience the expectations and requirements of investors andkeep a close eye on changing climes are worth their weight in business gold.”Specialization has become key, because what worked yesterday no longer works, you need thehelp of professional business plan writers to make your plan investor ready, professionalmarketers and online marketers to put your business in front of the right people and the rightvolume of people, professional accounting help to advice you and manage transactions accordingto the ever changing best practices.You can no longer be all things to your business.2) FlexibilityI have seen 21 year olds who cannot absorb a new idea, who have inherited a business model orsome knowledge that they are set on and I have seen 60 year old entrepreneurs who are verymalleable and keep with the trends so well that it marvels me.Entrepreneurs like Strive Masiyiwa typify this flexibility and this is a key reason he hasremained relevant in the African business terrain for so long and in IT and telecommunicationsno less (two rapidly changing industries). Fact is, the job you do or how it is done will have tochange every few years, that is the new normal.The ability and willingness to move with the tide will be the difference between stagnancy andprogress for most businesses from here on in.Subscribe to The Morning Email.Wake up to the day's most important news.3) CuriosityWhile curiosity is a close cousin of flexibility, it is not quite the same. I like to think of businesscuriosity as an elder brother to business flexibility. Without it, there would be no need forflexibility.Strive Masiyiwa in a recent post defined a new age entrepreneur in these words:”An entrepreneur is someone who is hyper-curious, and manages to channel that curiositytowards a singular purpose. If you’re a person who likes things the way they are, and you don’tlike change, you’re never likely to be a successful entrepreneur.”I totally agree, for businesses in any industry to survive, there must be some new trend orinnovation around your business that you must be tracking way before it is ripe. Businesses mustinvest in research arms at least if they cannot invest directly in the innovations. A non-curiousentrepreneur will definitely not survive this era. Be curious! Be very curious!4) Lightening SpeedThis the new age, and let’s face it every one needs that service or product delivered fast. Thespeed of things today has almost tripled from 10 years ago. We had 2G, then 3G, then 4G. Wehad restaurants, then Fast food restaurants, then drive through takeouts. Needless to say, patienceis a rare commodity today and expecting your customers to have stores of patience is a bit naïve.It is not time to give them a moral lesson, do that in your spare time. It is time to deliver servicesquickly. To be able to deliver as quickly as possible, you have to do what I consider the toughestthing in business, building a very efficient organization and structure.You have to have the right number of staff and specializations to meet your demands, you haveto invest in the best technology and networks and constantly upgrade them as early as upgradesare made available. You have to plug every hole and have people answering every door.Give them speed and you are almost assured of customer loyalty.5) Think “Smarter Alternatives”I know that smarter alternatives are usually expensive, but in this age and time. It is wisdom toplace monetary value on human energy and the exertion and stress that we all feel. Speed,efficiency and ease have become of great business value, because if you do not have these, yourcompetitors will have a field day no matter how hardworking you are.Smart work sells today, not hard work. For instance installing a high class wifi-router for youroffices to ensure that your staff have all they need and do not do company work with somepublic internet access is both a class efficiency move and a security move as well.My advice to businesses would be to invest in measures that you know will serve you in manyyears to come and not spend of fads because they are new or appealing. Durability and longevityshould guide your investments in smarter alternatives, but you need to find better ways to dowhat you have always done.6) GritIt was a while after I started my first business that I realized that just hanging in there was a vitalquality. Today, this quality is needed even more. There are so many innovations springing up soquickly that no one is seated comfortably, the competition is fierce!Sometimes, it is all you can do not to just throw in the towel. Grit is what you need to tietogether Curiosity with flexibility and offering speedy services.

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