entrepreneurialWhile listening to the results of a city audit today, a quote was mentioned from a member of the community: that you have three variables in capital projects – time, cost and quality. You can only control two out of those three and will always have to give up one in order to get the other two.

This had me thinking of how entrepreneurs have it right. They know they can’t control all three of these variables when it comes to their business (and it applies to a lot of other things in life too!) and they know what to do about it.

Mixing competence and intelligence

Knowing when to concentrate on their genius abilities and bring someone else into their business is a decision that at some point most business owners will have to make. They are wise enough to know that something has to give and also intelligent enough to realize which of the three it is. Giving up the quality of their services or products is not an option so that means more time spent on the business or they spend the money needed to buy someone else’s time.

Being competent means knowing why certain things need to be done and having the intelligence to get things done properly. Realizing that the results won’t be immediate, they have the maturity and the capability to oversee their business in a way that will bring future success. This is a results oriented way of thinking which is extremely important if you are running a business.

Strength of Character

Quite often found compelling, an aura of strength is very attractive to customers and the public alike. Inner strength or character is often found in entrepreneurs as they aren’t afraid of change and quite often welcome it. They always meet it head on. Becoming stagnant worries them, as it quite often means the end of their business or at the very least, a downturn.

Strength of character is shown by the vision entrepreneurs see of their businesses, whether others can see it or not. Those outside of a business rarely understand the blend of thinking and creativity that most business owners take for granted. Their mixture of decisiveness and innovation is what moves them forward. Knowing when to move and when to stay still and regroup is a critical part of their entrepreneurial ability.

Knowing what has the potential to help their business and what the downfalls of each decision could be, entrepreneurs almost always have certain characteristics not often found in those who prefer to work at a 9-to-5 job. Their ability to know what to give up in order to have what they most want is something that works across all platforms of their lives. Being in control of how their business runs and having the qualities that help them make decisions, which in the future will have the best outcome, are a result of qualities they have nurtured.


© Chris Draper, DemGen Inc. 2014