When we think about a true entrepreneur, we normally think of that person as the founder and executive of their commerce. From John D. Rockefeller’s standardization of oil to the neighborhood lemonade stand, entrepreneurs have been thought as idea guys with a resolve not to fail. Looking from afar I see the need for strong determined leaders in corporations who can provide different perspectives to implement their procedures. A good entrepreneur will have a long term strategy and mission statement in place as they begin to standardize their market.
As Rockefeller ignited interest in his products, he must have had a way of measuring and managing the company. Securing supply of oil to each house is necessary, but without inventory control and regulation of goods, we could see a demand in some communities while others have surplus leading to chaos for the consumers. Rockefeller knew a consistent and structured marketing plan would help him solidify customers and with a strong system of procedures, policies, strategies in place, he would have little trouble managing his enterprise.
As we think of big conglomerates, it becomes evident that procedures are always in place: from the littlest detail of cleaning the restrooms, all the way to purchase orders. It is important to communicate with your employees and not only to coach them but also to carry out the company policies. Policies should be innate. Labor laws are as important to the employees as they are to the employers. It will be an advantage to have the employees work within the given day following not only company policies but labor laws like second nature. Labor laws now make this practice mandatory, yet nonetheless, vacation days and other perks have become a great way of incentivizing the entrepreneur’s team. This is a great tool for a productive business day in and day out.
Of course the entrepreneur is thought of as the get-it-done guy, however when you utilize the proper tools, you can see growth of enormous proportions. A corporation may lay its foundation overnight, but by implementing their mission statement and consistent communication, the walls will be built. By effectively relaying the product to the consumer with a consistent service for all as an entrepreneur, you may be putting the last piece of the roof over your own Rockefeller center.