By definition, ‘Entrepreneurship is the process of starting a business or other organization. The entrepreneur develops a business model, acquires the human and other required resources, and is fully responsible for its success or failure’. Most entrepreneurs who successfully get their businesses off the ground have some basic, innate skills. They are visionaries and doers’, always ready to step in at any time to handle any challenge or tackle any obstacle. The entrepreneur often has a broad set of shoulders on which to carry the full weight of the business. They are risk takers, opportunists and often multi-taskers, but are they business-people?
Therefore, the question is once a business is up and running does the entrepreneur need to be more of a businessperson? I came up with this thought after watching episode after episode of the popular TV Show ‘Shark Tank’ you will learn after watching the sharks at work that the skills of the owner that got the business started often become the business’ greatest limiter. You will further learn that serious risks do not always pan out and the business often ends up in jeopardy, time after time, or episode after episode.
Business building, also known as stage-two of the business cycle, requires the entrepreneur to have learned how to temper their ambition. They must know how to control their risk taking. They also must learn to hold back vs. always charging forward. They must value the contributions of others. They must know how to listen and learn while always be encouraging, educate, acknowledge, reward and hold other people accountable. When entering the business building stage, it often takes more than one person, willing and able to step up, to help build and to maintain a sustainable and thriving business.
What are your thoughts?
Looking for a good book on the subject, suggested reading;
- The Visionary Leader: How to inspire success from the top down.
- Susan Bagyura (Author), Michael E. Gerber (Foreword), Fiona Dempsey (Illustrator)
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