Entrepreneurs and the animal kingdom

from www.conservationinstitute.org

Business strategies and animals

The important thing about being entrepreneurs is being able to adapt to the surroundings,  do things at the right time, taking risk and may even have to sneak on your prey. These are all the things that animals are accustomed to.

Management theorists have sometimes use animals to denote or represent a type of business or sector you want to get into. The word “Entrepreneur” is now commonly used as a general term for business owners, but the real entrepreneurs add a bit more feather to their caps in the sense of being self starters or innovative in their approaches. 

 

www.dinoanimals.com

Researchers such as DWG Birch not surprisingly compares companies to animals with gazelles (quick growth), elephants (sluggish) or mice ( small no  growth). The reason is to help entrepreneurs and their investors   understand which sector they want to be in, their future strategies and define their ambitions or goal. There is very little point in getting into a sector or market that is reducing in size or over saturated with companies barely surviving.  Real entrepreneurs try to disrupt the market by doing things differently or at least not following everyone else.

It really does not matter whether you describe your sector as a falcon, eagle or Cheetah, it is always better to analyse the sector, the future opportunities and the barriers for competitors to get into that market, because once your competitors believe you are making excessive profits, they will be getting into the market in search a piece of the action. In the most technological advanced sector, your competitive advantage can be calculated in terms of  months rather than years.

Back to the animal analogy, even in the jungle, the lion must strategize, find areas populated by the right preys, select the right animal from a group and get its timing right before making its move. Unless the lion does this, it can not live on its reputation as the king of the jungle.

Great entrepreneurs know that they don’t have all the answers but are ready to seek help and support when needed.

It is therefore important to know the sector and the requirements of your customers as well. 

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