Entrepreneurs have more than 5 senses
Colonel Wyatt Turner in “Where Eagles Dare” says about Major Smith – “Some people have a sixth sense. He has a sixth, a seventh and an eighth.”
I think it is true with Entrepreneurs also.
Entrepreneur sees an opportunity, gets a vision and goes about organizing their resources to achieve it. To be successful, they need more than the five senses.
These additional senses are:
7th Sense – Directional Sense: A sense of overall direction is important, especially, before the resources get organized. It has to be based on past experiences, present market conditions & future trends.
8th Sense – People Sense: A sense of the people whom they work with. Their strengths & weaknesses. Not what they like or hate about them. Should not be emotional & under or over estimate.
9th Sense – Financial Sense: Cash flows more than profitability. Profitability more than Revenues. (Be patient with revenue; be impatient with profitability.)
10th Sense – Strategic Sense: This is the “HOW”. Every second, we are faced with options to choose, this is about selecting the ones which work and prioritizing amongst the chosen ones.
11th Sense – Scope Sense: We know that world around is changing. Changing way faster than we can catch up with it. Especially, Internet technologies are changing at a pace where defining the “Scope” of deliverable is necessary. It is about thinking in “versions” than “the grand vision”. This is where, according to me, most of us fail. Getting this right is crucial.
Using these senses, entrepreneurs develop their 6th Sense – An intuition, a gut feel whether they would be successful or not in grabbing the opportunity.
Did i miss anything?
Please add in your comments.