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What is the Job of an Entrepreneur?

Among all the jobs in the whole world, the fiercest, riskiest and toughest among all is entrepreneurship. Entrepreneurship will test, prune and drain you. The more you improve and develop yourself, the more your business also grows.

While many entrepreneurs fail, many also succeed. But it is amazing that many failing entrepreneurs don’t know their job. Many entrepreneurs think their job is “to make money.” Because many entrepreneurs fail to know their true jobs and do their job well, many of them fail!

How can an entrepreneur do his job well and still fail? That’s impossible! Right?

Once an entrepreneur does his/her job well, his/her business will succeed. His/Her business will survive the storms of everyday business life and blossom. So the question still remains: what is the job of an entrepreneur?

Every entrepreneur has a seven fold job. The level of intensity to which they do their job well will determine their level of success. I believe that the success of entrepreneurs positively impacts the economies of their countries and the world at large.

For example: when an entrepreneur builds a small business and the business becomes very successful: making annually $10,000,000 and employing 600 workers, it will seriously impact his/her country and the world at large.

Ok! Let’s imagine the entrepreneur messes up and the business fails and he/she goes into debt $ 10,000,000 to banks, partners and investors. That means all the employees will lose their job, the government will lose their tax money, the GDP of the country will reduce and the rate of poverty will go high!

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That means entrepreneurship is the bedrock for community and national development. A renowned entrepreneur speaking at the SME Ghana Awards said, “Ghana needs great entrepreneurs to make Ghana great!” Every country needs great entrepreneurs to make it great!

Who are these great entrepreneurs?

Great entrepreneurs are those who know their jobs and focus their spirits, souls and bodies to doing it and doing well. Great entrepreneurs know, understand and do their job to the apex. As a result, they make their business successful, create more employment and make themselves rich.

Ideally, it is impossible for an entrepreneur to know and do his/her job without becoming successful. Once an entrepreneur knows his/her job and gets that job done with care, precision and diligence, his/her business will become successful and he/she will eventually amass great wealth.

So what is the job of an entrepreneur?

Job#1: To create a business that provides exceptional value for the customers and firmly positions the business as the first in the customers mind.

The first job of an entrepreneur is to serve the customers and be the best at serving the customers. The customer must be so happy that he/she can freely recommend the business to his/her family and friends. Referrals from customers are the proof that the business is doing well at serving the customers.

Put the Customer First!

Job#2: To assemble a winning team that will run, manage and make the business successful.

Business is a team sport—not a solo sport. While solo entrepreneurs create a job, true entrepreneurs create a business that involves hundreds and thousands of people. True entrepreneurs know how to assemble, forge and bring teams of people together to run, manage and operate the business.

Build a Winning Business team

Job#3: To systematize and scale the business so that the business can run and thrive with or without his/her presence.

The job of an entrepreneur is to mold the car. And the job of a business manager is to drive the car. Entrepreneurs must know how to create and develop systems in their business so that their people can simply run the systems to run the business.

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As Michael Gerber says, “The systems run the business and the people run the systems.” By so doing the business can be expended in many places and replicated thousands of times at several locations.

Image: Daghealth-Systematize the Business

Job#4: To improve the bottom line by reinvesting into the business and managing the cash flow of the business.

To grow the business, entrepreneurs must keep inventing and reinvesting into the business. Ideally, entrepreneurship is the process of inventing and investing into business development. The more entrepreneurs reinvent and reinvest into their business, the more it will grow and expand to meet the demands of the changing world.

Improve the Bottom Line

Job#5: To invest excess cash generated by the business into tangible assets that can generate and continually fund the operations of the business.

To make the business stable, it is expedient for entrepreneurs to invest excess cash generated by the business into tangible assets like real estates. Tangible assets like real estates will generate passive income which can fund and support the business. The more income generating assets the business has, the more stable the business will become.

Image: Ghana Find-Invest into Tangible Assets

Job#6: To protect and secure the jobs of the employees, contractors and strategic partners working in and with the business.

The job of an entrepreneur is to protect and secure the jobs of all the workers. If the business fails, the workers will lose their job, the rate of unemployment will go high and people will suffer financially. To prevent this from happening, the entrepreneur must always protect and preserve the business so the jobs of the workers can be preserved.

Image: Electa -Protect the Jobs of the Workers

Job#6: To be a responsible corporate citizen through paying of taxes, philanthropy and supporting the community wherein the business operates.

Every entrepreneur must be responsible to his/her community, the less privileged and the nation at large. The way to do that is by giving back to support the community and the nation. Paying taxes and giving philanthropically goes a long way to make the business socially responsible.

Image: Thuru Lodge-Be Socially Responsible

What’s on your mind? Share your comments below about the job of an entrepreneur.

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