Thursday, September 9, 2010

We make money the old-fashioned way--we earn it!

Professionally managed firms extinguish the spirit that keeps the entrepreneurial fires burning when they lose sight of the need to be constantly prospecting for emerging opportunities. Although these firms may have been given a facelift and restructured, they still are not positioned to seize the moment. The entrepreneurial edge does not come from sophisticated electronic spreadsheets, a new logo, or an even infusion of new capital--nor does it come from the mergers and acquisitions strategy that has become a way of life for larger firms as their executives desperately try to buy a future.

Entrepreneurship and sustained growth come from perceptiveness, innovation, flexibility, and the willingness to commit resources to emerging opportunities. As President of Compac Computer during its prime, Eckhard Pfeiffer noted, "We directed the whole organization to discover new market opportunities, to develop innovative products, and to build new manufacturing capabilities." (13) True entrepreneurs recognize that sustained growth cannot be accomplished with mirrors. True growth comes with the strategy captured in the Smith Barney ad, "We make money the old-fashioned way--we earn it!"

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