Entrepreneur’s Diary #35 – “The Three Criteria For Success!” or “Entrepreneurial Culture or Management?”

You want to buy property? Well, there are three important criteria you should take into consideration before you decide to buy: Neighbourhood, Neighbourhood, and Neighbourhood!

That is the rule with property. To be sure, if you want to sell a building, it should not be a heap of scrap. The price should also be acceptable. But in the end, it is the neighbourhood that determines whether or not you have made a good deal.

How about an enterprise?

If you asked me, I would say the value of an enterprise is also determined by three basic success factors: Entrepreneurial Culture, Entrepreneurial Culture, And Entrepreneurial Culture!

To be sure, there must be some mercantile competence and diligence. The same goes for the structure of an enterprise making sense and being well-organized. But as I see it, the central factor determining success is the entrepreneurial culture.

I once confronted the director of a relevant enterprise whom I personally hold in high esteem with the “property question”. His spontaneous answer with regard to entrepreneurial success was:  “management, management and management”!

Management, however, is not limited to directors, executive boards or those colleagues who are explicitly employed for “management”. Because management means you clear the path for an entrepreneurial culture to develop.

What entrepreneurial culture has to be based on is a value system that has been handed down with responsibility and is alive. Thus, management is closely linked to the culture and values of an enterprise.

Management does not mean to be the whirlwind of the company who is on the move at all times. What it means is you have to contribute consciously or subconsciously to the value and culture of the enterprise. It can be done quite softly. As a general rule, however, you can assume that “actions speak louder than words”.

That means that each and every employee of an enterprise also does some “managing”. Some do less of it, some more.

Consequently, the two terms “entrepreneurial culture” and “management” go together, after all.

(Translated by EG)

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