Entrepreneurial leadership


Woopidoo article

Being an entrepreneur is about more than just starting a business or two, it is about having attitude and the drive to succeed in business. All successful Entrepreneurs have a similar way of thinking and posses several key personal qualities that make them so successful in business. Successful entrepreneurs like the ambitious Richard Branson have an inner drive to succeed and grow their business, rather than having a Harvard Business degree or technical knowledge in a particular field.

All successful entrepreneurs have the following qualities:

Inner Drive to Succeed
Entrepreneurs are driven to succeed and expand their business. They see the bigger picture and are often very ambitious. Entrepreneurs set massive goals for themselves and stay committed to achieving them regardless of the obstacles that get in the way.

Strong Belief in themselves
Successful entrepreneurs have a healthy opinion of themselves and often have a strong and assertive personality. They are focused and determined to achieve their goals and believe completely in their ability to achieve them. Their self optimism can often been seen by others as flamboyance or arrogance but entrepreneurs are just too focused to spend too much time thinking about un-constructive criticism.

Search for New Ideas and Innovation
All entrepreneurs have a passionate desire to do things better and to improve their products or service. They are constantly looking for ways to improve. They’re creative, innovative and resourceful.

Openness to Change
If something is not working for them they simply change. Entrepreneurs know the importance of keeping on top of their industry and the only way to being number one is to evolve and change with the times. They’re up to date with the latest technology or service techniques and are always ready to change if they see a new opportunity arise.

Competitive by Nature
Successful entrepreneurs thrive on competition. The only way to reach their goals and live up to their self imposed high standards is to compete with other successful businesses.

Highly Motivated and Energetic
Entrepreneurs are always on the move, full of energy and highly motivated. They are driven to succeed and have an abundance of self motivation. The high standards and ambition of many entrepreneurs demand that they have to be motivated!

Accepting of Constructive Criticism and Rejection
Innovative entrepreneurs are often at the forefront of their industry so they hear the words “it can’t be done” quite a bit. They readjust their path if the criticism is constructive and useful to their overall plan, otherwise they will simply disregard the comments as pessimism. Also, the best entrepreneurs know that rejection and obstacles are a part of any leading business and they deal with them appropriately.

True entrepreneurs are resourceful, passionate and driven to succeed and improve. They’re pioneers and are comfortable fighting on the frontline The great ones are ready to be laughed at and criticized in the beginning because they can see their path ahead and are too busy working towards their dream.

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By Raj Dash on September 17, 2007

With the number of tools available on the Internet, it’s quite possible that entrepreneurs can build a successful business online – even a media empire. However, if you expect to expand, you will need to delegate tasks at some point. You simply can’t do everything yourself and also expect to grow.

That means you need to hire people and inevitably deal with “normal” work situations. Forget about traditional leadership. I’ve only ever had a very few bosses who were good leaders, but they taught me something because they were forward-thinking. Here’s some of their wisdom, distilled by my perspectives and my experience in the workforce.

Never blame. At least, don’t blame an employee in front of another. If you have to reprimand, do it in private. This sets a bad tone, and you lose respect with all employees, as such things will get around like bad gossip.

Don’t create adversarial situations. Don’t pit employees against each other or ask them to snitch. Healthy competition is fine. Back-stabbing is like a smile, but only in that it carries a long way through the company morale, and not in a good way.

Understand the work. Be a constant learner. Have at least a fundamental understanding of the work you’re expecting your employees to do. It makes it easier on everyone when the try to tell you why something can’t be done, or that it will cost more.

Don’t put square pegs in round holes. Basically, assign the right work to the right people, to allow them to work optimally. Don’t be like those companies that shall remain nameless that give you a job you can’t do and beat down your spirit. You wouldn’t want that and neither would your employees.

Lead by example. If the company approaches a problem that covers new ground, don’t expect your employees to know how to solve it. If you know how, give them a crash course and let them take it from there. And by leading, I don’t mean leading employees like a puppy.

Brainstorm. If they still have trouble solving a new problem, brainstorm with them. Proper brainstorming requires that at least the moderator of the meeting does some legwork beforehand. Record all ideas without censorship, or you might miss the best solution, which might be unfamiliar and thus seem odd.

Ask, don’t tell. Communicate well and clearly. In a startup company with a positive environment and healthy competitive spirit, most people want to be asked, want to be challenged. Offer up the day’s or week’s “assignments” and let people pick. That is, if you’re not such a big company yet that you need to structure everyone’s roles. Don’t count anyone out. You might be suprised about who’s capable of what. Challenges also weed out the lazybones.

Be decisive. Have a strategy ready. If business problems crop up and employees are aware of them, they’ll be thinking abou their bills, their mortgages, etc., not yours. (Possibly unless you’re giving them incentives.) So be the decision-maker, indicate what needs to be done, then ask for volunteers or assign tasks if necessary.)

Consider profit-sharing. Bonuses go a long way towards employee loyalty, passion and creativity. Sure, there’ll still be stragglers, but a creative bonus “matrix” weeds them out. If your company is young, there’s only so far you can go with bonuses, so also consider profit-sharing/ private shares. Talk to a good accountant about the best way to implement these incentives.

Be sympathetic. Or at least courteous. It’s only human to not always be in top form, even with incentives. Talk to your employees, understand them and give them some leeway when possible. Have some redunancy in job descriptions, right from the beginning, to allow someone to temporarily take up the slack.

Be firm. Being sympathetic is all well and good, but you do have a business to run. Be firm when it’s necessary.