How to Set-Up an Enterprise

Feedback and Reporting

Have a suitable feedback mechanism in place to learn from experiences, to gain an insight into what is actually happening in your business, if you don't have one develop a suitable mechanism which suits your necessities. Think of your experiences, when you wanted to know from others how you were performing your jobs or chores or tried to find out how you performed in your a particular assignment.

Entrepreneurs should seek immediate feedback on their performance, product and people. They want prompt, accurate data on the results they are getting. It does not make any difference whether the information they get is pleasant or unpleasant. By remaining unaffected by the results or feedback, they are stimulated to pour more energy into further accomplishing the task. Positive or a negative feedback is a response for them based on which they charter their future course of action. They are neither disheartened by negative feedback nor do they remain jubilant in light of glowing feed back. Entrepreneurs strive for higher goal, better performance and above all learning from their own and experiences of others.