ENT630 Week 7 Discussion

Trust, Just as it is in any other relationship, is one of the most important parts of a business. There should be trust between the employer and employees. There must be trust amongst a company and their customers. There must be trust between employers and their vendors and suppliers. Furthermore, there must be trust between entrepreneurs and their investors. Whether it’s exchanging time, money, products or service it should be no question that what is expected will be delivered. Investors want to know that the business and business owner they are backing will be worth it. In such, it is essential to build strong relationships and make business decisions that help solidify that relationship.

Sometimes, even in saying and doing the right thing mistakes happen. If trust is broken or business/ business relationships experience hardships, then one shouldn’t rush to throw in the towel. Sometimes it’s just a matter of taking time to revamp a business plan or for an entrepreneur to prove they are worth the investment. Sometimes it may not necessarily be a mistake made by the entrepreneur, an investor or partner may just be a terrible person and it just doesn’t work out. Regardless of the situation, you never know when you will need advice or resources from the individual. So, it’s a good business decision to create space, but not cut the source off completely. Schussler made a great point in the reading, “Most entrepreneurs need to have a healthy ego, but you also have to be realistic” (Schussler & Karlins, 2010).

One thing that has always been important to me is giving. In previous, and current job searches it is imperative for me that the business has a philanthropic element. Whether they are giving to their local community, or a larger cause, it is something I am always checking for. This notion is also something I will be implementing into my own business. There is always a way to give back, be it time, money, or other avenues. There are so many issues in the world today and I feel that everyone has at least one area they can fall in line with helping. As it was nicely stated in the reading, “… as an entrepreneur, you have an opportunity (even an obligation) to give something back in proportion to what you have received- to be philanthropic as well as profitable. Helping not only benefits those on the receiving end, but it helps the one giving as well.

Reference:

Schussler, S., & Karlins, M. (2010). It’s a jungle in there: inspiring lessons, hard-won insights, and other acts of entrepreneurial daring. New York: Sterling.