For most entrepreneurs looking back on their careers, fulfillment requires that their businesses have been constructive or positive in their impact—at the least, their effect should have been benign, causing no harm to the social order. In most cases, entrepreneurial businesses make positive contributions by providing jobs and services. A few businesses make an additional contribution in addressing special needs in society, as is the case for TOMS Shoes, described earlier in the chapter.
BEGINNING WITH THE END IN MIND
The criteria by which one evaluates entrepreneurship must be personal. Stephen R. Covey, in The Seven Habits of Highly Successful People, suggests that the most effective way “to begin with the end in mind” is to develop a personal mission statement or philosophy or creed.50 Though individuals will have different mission statements because their goals and values will vary, widely shared values will underlie many of their judgments.
An entrepreneur builds a business, a life, and a legacy day by day, starting with the initial launch and proceeding through the months and years of operations that follow. A person exiting an entrepreneurial venture has completed the business part of his or her legacy—it must be constructed during the life of the enterprise itself. Therefore, an entrepreneur needs to keep the end in mind while making innumerable operating decisions. By selecting the proper values and wisely balancing their application, an entrepreneur can make a satisfying exit, leaving a positive and substantial legacy to heirs, employees, the community, and the broader society.
It is the authors’ deepest hope that your journey in owning your own business and being an entrepreneur—if you choose to do so—will be a richly rewarding experience, not only financially but also, more importantly, in the things that matter most in life. Above all, we hope that your legacy will bring both satisfaction and fulfillment for you and the important people in your life.
WHERE TO FROM HERE
An airplane pilot not only controls the plane during takeoff but also flies it and lands it. Similarly, entrepreneurs not only launch firms but also “fly” them; that is, they manage their firm’s subsequent operation. In this book, you will find a discussion of the entire entrepreneurial process. It begins in the remainder of Part 1 (Chapter 2) with an examination of the fundamental values of the entrepreneur. Parts 2 and 3 look at a firm’s basic strategy, the various types of entrepreneurial ventures, and the initial planning that is required for business start ups. Parts 4 through 6 deal with the marketing and management of a growing business, including its human resources, operations, and finances
For most entrepreneurs looking back on their careers, fulfillment requires that their businesses have been constructive or positive in their impact—at the least, their effect should have been benign, causing no harm to the social order. In most cases, entrepreneurial businesses make positive contributions by providing jobs and services. A few businesses make an additional contribution in addressing special needs in society, as is the case for TOMS Shoes, described earlier in the chapter.
BEGINNING WITH THE END IN MIND
The criteria by which one evaluates entrepreneurship must be personal. Stephen R. Covey, in The Seven Habits of Highly Successful People, suggests that the most effective way “to begin with the end in mind” is to develop a personal mission statement or philosophy or creed.50 Though individuals will have different mission statements because their goals and values will vary, widely shared values will underlie many of their judgments.
An entrepreneur builds a business, a life, and a legacy day by day, starting with the initial launch and proceeding through the months and years of operations that follow. A person exiting an entrepreneurial venture has completed the business part of his or her legacy—it must be constructed during the life of the enterprise itself. Therefore, an entrepreneur needs to keep the end in mind while making innumerable operating decisions. By selecting the proper values and wisely balancing their application, an entrepreneur can make a satisfying exit, leaving a positive and substantial legacy to heirs, employees, the community, and the broader society.
It is the authors’ deepest hope that your journey in owning your own business and being an entrepreneur—if you choose to do so—will be a richly rewarding experience, not only financially but also, more importantly, in the things that matter most in life. Above all, we hope that your legacy will bring both satisfaction and fulfillment for you and the important people in your life.
WHERE TO FROM HERE
An airplane pilot not only controls the plane during takeoff but also flies it and lands it. Similarly, entrepreneurs not only launch firms but also “fly” them; that is, they manage their firm’s subsequent operation. In this book, you will find a discussion of the entire entrepreneurial process. It begins in the remainder of Part 1 (Chapter 2) with an examination of the fundamental values of the entrepreneur. Parts 2 and 3 look at a firm’s basic strategy, the various types of entrepreneurial ventures, and the initial planning that is required for business start ups. Parts 4 through 6 deal with the marketing and management of a growing business, including its human resources, operations, and finances
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