In this article, we will talk about the meaning and definition of a business model canvas. We will also talk about its need for an entreprenuer, tools to build a lean model canvas and main parts of it. While explaining these, we will discuss about why this is important for your startup idea. The main questions we will answer in this article are:
Differences between managers and leaders: Although technically all roles can bring out leadership within them, it is important to differentiate between the purpose of leadership and managerial roles in an organisational context. The purpose of a leader is to provide direction, think of the future, and provide a vision for the organisation or a team. On the other hand, the manager's job most often is to optimise the resources available to achieve the overall vision as desired. Usually, the managerial focus is on efficiency whereas effectiveness is a leadership question.
Differences between Entrepreneur and Entrepreneurship: These terms are used interchangeably and possibly for the right reasons. I find it hard to differentiate between the two because they are closely interlinked. However, these terms are used differently. Entrepreneur is person-centric whereas entrepreneurship is business-centric.
Entrepreneurial Operating System (EOS): An Entrepreneurial operating system represents the foundational elements of a business for a founder. We are aware of some of the terms as Business Modle Canvas, business plan, pitch deck etc. They represent the strategic side of a business. However, while you do the strategic work, the operational work cannot be compromised.
Entrepreneur Vs manager: No matter what people say, these two are completely different skillsets. At times, a manager might display the characteristics of an entrepreneur and vice versa. However, the roles, their expectations and purpose are completely different. They are expected to take on different persona and the corresponding characteristics are different. As an entrepreneur, I gravitate more towards the definition of an entrepreneur and at times can sound harsh about a manager. But the roles are highly important and enable success in an organisation.
This quote by Mahatma Gandhi talks about the social aspect of serving others and the personal aspect of finding your purpose. Finding purpose is a difficult question and many guides and coaches are working on it, it sometimes feels like a lost cause. Most guidance we receive about finding ourselves tends to be generic and unhelpful.
Difference between entrepreneur and intrapreneur: They both sound similar but are fundamentally different considering the environment they work in. We all know that both entrepreneurs and intrapreneurs take risks. They both risk putting their idea in front, investing time and energy to create something new.
Entrepreneurship involves a significant level of risk-taking, and understanding and managing those risks is crucial for success. In this article, we'll explore the different types of risks associated with entrepreneurship and how entrepreneurs can manage them effectively.
Fabian Entrepreneurs are founders or business owners who are cautious and skeptical of change and innovation. This sounds counterintuitive to entrepreneurship because startups and new businesses are characterised by creativity and change. However, once a business identifies its sources of revenue, change is not easy. Any change comes at a cost and Fabian Entrepreneurs are afraid that these changes might cost them revenue or loss of market share.
Not Having Enough Time: We are always busy - too many things clamouring for attention. This makes managing time and stress very difficult. However, it is a pertinent problem - big enough to ensure that we must do something about it. Or else we constantly run a risk of being overwhelmed, stressed and not having enough time for the things that we want to do.