An extract of entrepreneurial principles drawn from the Trust Bank case study.
1. Perseverance always outlasts persecution. Perseverance is a hallmark of entrepreneurs. Its not for the fainthearted or the easily quit types.
2. Entrepreneurs are prepared to risk their own resources for the entrepreneurial dream.
3. Entrepreneurs are risk-takers. They however take calculated risks. Do not assume unnecessary risks without a cost benefit analysis. Risk taking does not equate to foolishness.
4. Broadening shareholder base spreads the risk of entrepreneurial ventures. Including employees in equity uptake motivates them.
5. Staying close to the customer and improving customer responsiveness is key to entrepreneurial success.
6. A strategic mindset is vital for success.
7. Entrepreneurs know how to handle loss and failure without allowing them to incapacitate them. In fact they view these as learning experiences.