1. Fostering an Entrepreneurial Climate
The entrepreneur's success is dependent upon smart decisions, a good business plan, and
the support and buy-in of clients, investors, and employees.
Ensure Success
There are many reasons people start their own businesses. Many businesses are formed to
market a good idea, or because there may be no other opportunities available. Or, perhaps
the time has come, and an individual has grown tired of working for someone else and
wants to go it on his/her own. The rewards are many, but there are difficulties as well.
Having a good business plan, a good product or service and a good idea are important but
not enough. Ensuring you foster an entrepreneurial climate in all your business aspects
can help circumvent some issues and pave the way to success.
Identify Your Support Networks
Every business owner should have several support groups: A network of people
interested in your business, a financial interest group, and a family and friends network.
The people interested in your business might include coaches with start-up assistance
agencies, a contact with SCORE or the SBA, or former colleagues who know you
professionally. The financial interest group is composed of those who have assisted you
with financing or have recommended financing. The family and friends group speaks for
itself. Rely on these groups of trusted individuals for support along the way. Including
them will allow them to maintain interest and support in your business and will help you
build an entrepreneurial environment.
Obtain Input
Though you might be the sole owner or one of few partners, and this might be your idea
and your business, no man or woman is an island. One trick to fostering an
entrepreneurial environment is to solicit input and ideas from those around you, including
investors, customers, employees, friends and family. Some of these people form the
foundation for your business. Select the people whose opinions and experience you value
most. Listen to the input that is given you, whether or not you solicited it. An “outsider
looking in” will have a different and very valuable perspective. You and possibly your
partners see the activities of your business on a daily basis and may miss some important
things that an outsider will see.
Use the Information
Once you get the input, don’t just drop it. Of course you will have to weed out the ideas
that are not suitable, but you should at least consider the feedback given you.
Be Inclusive

2. Though contacting your support groups, customers, or employees on every little decision
might be overkill, asking them for help in making major decisions will not only give you
other perspectives and opinions but make keep you from making the wrong decision.
Chances are, your investors, customers and employees care about your business and will
be honest with you. They also will be flattered to be sought out for input on the decisions
you make, as these decisions could well affect them.
Spend Extra Time with Your Employees
If you are fortunate enough to have valuable employees, take them aside. Spend time
getting to know them and to express your gratitude for their work. Have a simple lunch or
dinner to reward their efforts. Foster a positive culture in your work place and you will
cultivate an entrepreneurial spirit.
Be Honest
No matter what, always maintain honesty with your supports, investors, clients and
employees. If there is an issue, state it and your plans for circumventing it. Nothing good
ever came of hiding information. There is nothing worse than finding out one has been
victimized by a lie. When this happens, the opposite of forming an entrepreneurial
environment begins: the rumor mill, typically started due to lack of information.
Be Communicative
While starting your business you might naturally be communicating with investors,
employees, and your support groups. Keep on top of communications once your business
is on terra firma. Sending out email notices or newsletters with monthly activity reports
will help foster an entrepreneurial environment and also help make your business look
professional. Have regular meetings and invite your investors and clients, along with your
employees. No one likes being left in the dark, especially those who have a vested
interest in your business. Keeping people informed allows them to feel there is nothing to
fear.
Be Positive
Being positive even when there is something to fear will also help foster an
entrepreneurial environment. Things will not always be rosy. But as the business’ leader,
it is your job to be cheerleader, even when times are tough. In today’s market, there are
multitudes of reasons to feel regret, sadness or dismay. So it is even more important to
maintain a positive outlook, especially with those around you. You have to encourage
people even if you cry alone in your bedroom at night. Maintaining positive thoughts will
help you keep a clear head about difficult decisions during hard times. And your
investors, employees, clients and support groups will admire you for this. Continue
business as usual while being realistic about difficult decisions. Never be emotional when
it comes to serious decisions.