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Entrepreneurs lack organisational skills

14 July, 2011

Experts say that most entrepreneurs lack the organisational skills necessary to develop their business and launch ideas successfully.

In a study of 111 entrepreneurs done by Andrum Consulting, the specialist for practical advice and support for entrepreneurial businesses,
It was discovered that 80% of those participating had a minimum of 2 unused ideas, and 26% had at least 4 ideas. A further 30% had ideas on the back-burner waiting to be launched due to lack of time-management know-how. 39% said that they needed financial backing and at least 20% said that day-to-day cash flows were holding them back.

A senior partner at the consulting firm said that it was great to see entrepreneurs brimming with ideas, but if they do not possess the skills to work out which idea is most viable and are unable to raise enough finance to get their idea off the ground, such innovation is hardly beneficial.

Further comments from the partners included that many entrepreneurs complained that there were not enough hours in a day. This statement would be a red flag to many potential investors. And the question she left entrepreneurs to think about was; “Who wants to back somebody who is unable to manage their own diary?"