What Are Your Entrepreneurial Biggest Responsibilities?

Even we continuously talk about the responsibility I am not sure that all entrepreneurs understand what exactly means their entrepreneurial biggest responsibilities. Here, I want to present some of my notes related to this subject.

Searching in my internal database related to data collected in the last eight years working with different entrepreneurs from different businesses and different industries, I’ve noted some positive correlations between the success of the companies these entrepreneurs are running and their level of understanding of their own entrepreneurial biggest responsibilities.

What does it mean?

Why You Need to Know Your Biggest Responsibilities?

It means that if they have a better understanding of their biggest entrepreneurial responsibilities, the business’s success will come more quickly. Yes, that’s true. Because if you know your responsibility as an entrepreneur:

1. You will know what you need to do

It is essential for you to know what you need to do and, more importantly, to know what is expected from other people in your business from you. It will bring clarity and a vision of how your work will be related to your business.

2. You will do what you need to do

If you know what you need to do and what is expected of you to do in your business, you will probably start doing those things. Think about a blank to-do list at the beginning of your working day. How do you feel at that moment? You are probably confused and frustrated, and if you don’t start to fill the list with the specific tasks, your working day will finish chaotically. So, knowing what you need to do will increase the probability of doing that.

3. You will do what you’ll need to do most efficiently for you and your company

When you know your responsibilities, you will prepare yourself to do things related to those responsibilities and do them better. In this way, you are improving the quality of your work. A better quality of work will bring better results for your business.

So, let’s see what I mean about your biggest entrepreneurial responsibilities.

Entrepreneurial Biggest Responsibilities #1: Build Sustainable, Sellable and Scalable Business

This is your first responsibility as an entrepreneur or a person who started your own business. When you start designing and building your business from the foundation you will need to think about these questions:

• What does sustainability mean for me? When do I already know what the right sustainability is for me? How can my company become as sustainable as possible? What steps will I need to take in the short term to make my company sustainable? What steps will I need to take in the long term to make my company sustainable?
• Can I sell my business? Who will be interested in buying such a company as mine? What do they want to buy from me? Also, what will I do to ensure I can sell my company for a higher price?
• What does scalability mean for me? How can scalability be ensured? What do I need to take to ensure that my company will continue to grow exponentially?

You will have many challenges as a startup entrepreneur. So, prepare yourself on time. Look at these three challenges every startup faces.

Answering these questions at the beginning of your entrepreneurial journey will bring an additional level of clarity related to the future of your company. That’s your responsibility because it will depend only on you.

If you want to succeed at this goal, you will need to build a business, not a product.

Entrepreneurial Biggest Responsibilities #2: Developing the Best Products and Services

Yes, your responsibility is to develop and bring the best products and services to the market, something that doesn’t exist yet. So you will need to:

• Develop entirely new products and services that don’t exist on the market with the potential to change the world as we know it today.
• Improve your current products and services on the market. If you want to continuously satisfy your customer’s needs, you will need to think about daily improvements.

With this in mind, you will continuously search to be close to your current and potential customers to satisfy their existing and unknown needs. When you develop the best products and services, you will deliver new wealth for you, your family, your customers, and society.

Think about adding more value to your customers through your products and services. Here is how you can add more value to your products and services.

Related: 10 Smart Skills You Will Need Now as an Entrepreneur

Entrepreneurial Biggest Responsibilities #3: Continuous Improvement of Your Business Model

Your company will operate on the business model that you design, test, and run. If you want to develop and deliver the best value for your customers, you must have a business model to make it possible. You will need a business model that will always produce the best possible results for your company.

Continuous improvement of the business model will bring continuous improvement and innovation in your business processes, products, and services. That’s something you want to achieve, and that’s something that is your responsibility to initiate, support, and implement.